Ekovest Berhad

One possible reading for Ekovest is as shown above, a very bullish waves (I)-(II), 1-2, i-ii and a mini (i)-(ii) pattern, A mega trend since 1998 bottom. The next wave has the possibility of being the wave (iii) of iii of 3 of (III).



But it must be confirmed by a volume much higher than the August sub-wave (i)'s volume. Failure which, the last two session rebound can be just a technical rebound while trending downwards as shown below, it is forming the wave c of wave 2.




Have to monitor the volume closely, without volume no uptrend is sustainable except manipulation by interested party.

Lap Lap Chap Chap - Miscellaneous

Wait, make sure that it is a mirror before your next action

Just place your finger tip on the mirror, if there is no gap between the finger and the reflection, it is likely to be a 2-way glass. If there is a gap, it is a true mirror.

For 2-way glass, the reflective transparent film is placed in front of the glass whereas the reflective coating for mirror is coated behind the glass, the gap is due to the thickness of the glass.

Different Opinions

On Tuesday ADB President Haruhiko Kuroda said, " .... double-dip recession seem unlikely ..... ".

Two days earlier Professor Nouriel Roubini said, " ....... there is a high probability of another recession in US ....... ".



A this moment, I prefer to stick to my own hypothesis, I will maintain my chart reading that Dow is at the tail end of the major bear market rebound, a major wave B rebound, as shown below.



As shown above, the price and volume divergence during wave 1, heavy volume sell 0ff for wave 2 and very low volume for wave 3 are signs of wave B.

In the next few days, if Dow starts to turn down from here, that means wave iii has been completed. However if Dow continues to struggle upward to form five mini waves, then wave iii may move slightly above 11,000 with five mini waves as shown below.



Another scenario as mentioned in my previous post is shown below.

That means so far Dow has not completed its wave 2 as shown below. The wave c's magnitude will be much bigger than the wave iv in the previous scenario.

Lap Lap Chap Chap - Miscellaneous

Someone emailed the following to me. A very good idea, no need to buy plastic clip anymore.

Dow - Is Dow heading for an exciting bull run ?

Based on data that includes GDP, income, employment, industrial production, wholesale & retail sales figures, etc. etc. NBER considered the data looked strong enough and long enough for them to declare the start of the rising phase of the business cycle is July 2009. This declaration was made on 20 September 2010. So the recession is officially and statistically ended on June 2009. Is Dow going for another record run?

I don't think so, I don't think Dow is in a bull cycle, but I can be wrong too, only time can tell.



At this stage of the market, to me, there is no sign of a bull run. Look at the chart above, Dow has completed its wave 1 & 2 by July 2010 since the 2009 March low of 6,547. Dow is currently in its wave 3 phase. In a bull run, wave 3 has to be more powerful than wave 1 and with a much higher volume than that of wave 1 due to widespread participation. When reaching sub-wave iii of wave 3, the run is usually euphoric and unmistakable. But in the last 3 weeks of the current sub-wave iii of wave 3 run-up, the average volume as shown above, is the lowest since the beginning of the run in March 2009. Only wave 3 of B has a volume that is lower than that of wave 1.

Based on the low volume, another possibility is as shown above, Dow remains in its wave 2. It is about to complete its wave b. After that Dow will move lower with very very low volume to complete its wave c to form the wave 2.

Karambunai

Karambunai dropped 5 sens today to closed at 13 sens to rest on top of its neckline. If its sub-wave ii can consolidate around this level holding above the 12.5 sens neckline, the next run up is the sub-wave iii of wave 3 of major wave (III). Sub-wave iii of 3 of (III) is going to be very dynamic with high volume and it should be able to break its higher degree neckline at 26 sen. once the 26 sen neckline is broken, the next minimum price target is around 50 sens. However, if the price goes below the 12.5 sens neckline, it can go all the way back to its 5.5 sen level.

Email from London

Received this email the other day from my daughter with beautiful photos and her experience of fine dining in a French gourmet restaurant, I can't resist but to post her email (with her consent).

L'Atelier de Joel Robuchon

Heavenly!

L’Atelier de Joel Robuchon (with Michelin stars) was really a good experience. The food was good and the service was fantastic. We ended up having a 9 course dinner, by accident. We only intended to have a 3 course dinner. So, although we originally planned to leave by 7pm, we ended up staying way past 8pm, from a 5.30pm sitting.



The entire place is in black and red, and we sit at the counter instead of a table, informal, but very tasteful. So, it didn’t feel very pretentious for a place of such status. I like the ambience very much.

J remarked at their expensive plates and cutlery. The plates, apparently go for about RM200 each. Of course, he was flipping over the plates and such to see their brands.

For appetisers, he ordered fresh sea trout tartar with some lemon dressing.



This is the first time that I’m eating sea trout raw, and man, it was good. Taste like really expensive salmon, but with more firmness to the flesh, and goes really well with the lemon dressing and pickled cabbage.

I ordered a poached egg with hazelnut vinaigrette.



The hazelnut vinaigrette was amazing, very fragrant, and somehow, complements the egg, which sits on some beetroot (I like) very well. We swapped our appetisers, so those are the first 2 courses.

The serving portions, although for tasting plates were rather generous. As we were very impressed with the appetisers, we ordered another 2 types of appetisers.

J wanted to try their standard beef carpaccio. He said that it wasn't cold enough, but I think it was because we keep on taking photos of it before we started eating.



And I chose a crab dish



Needless to say, they both astounded me. I like the crab dish because it is served in between thinly sliced turnip and as I pop each portion into my mouth, the flavour of crab blends with the turnip, which is crispy and slightly sour and after I swallow, the taste of sweet crab lingers in the mouth.



Then, it was time for the mains. J's pollock fish was so-so only. To be fair, it is quite good, but, the excellent appetizers sort of made us expect more. My fish was delicious until I reached the tummy part. It was very fishy. Normally, I would have just drink a lot of water, cut away that portion and continue eating, but this is Robuchon that we are talking about, so I returned the dish. The restaurant confirmed that their fish was fresh, but would be happy to replace my main for another fish or other stuff.



At that point in time, I still that fish taste in my mouth and J's fish wasn't too impressive, so I decided to go for the chicken.



Actually, the name is 'Chicken breast stuffed with vegetables, served with sauce Normande'. I'm saying the full name because it deserves special mention. The chicken is served with roasted apples in some alcohol (which I think could be Calvados) and some bitter radish-like thingee. That dish was so delicious that although I was already quite full, I wolfed down the chicken in less than 5 minutes. It was with reluctance that I swap with J’s fish after that.

By then, we were really really full. So, we decided to order only 1 dessert and J chose something that requires skill – soufflé, my favourite after crème brulees. It was orange soufflé with raspberry sorbet.



Sounds very ordinary, looks very ordinary, but it wasn’t ordinary. The soufflé is light, but the orange flavour is solid. And, the orange flavour tasted very fresh (I don’t have another word to describe). The taste combined with the smell, is like an orange when it is being peeled. I don’t know how they do it. So, when you put it in your mouth, it is like having foam, with an explosion of fresh orange. The raspberry sorbet, unlike normal sorbet, is creamy, but light and packed with the intense flavour of raspberry, which again, I have not tasted any better. When eaten together, the orange and raspberry made an interesting combination.

Now, the restaurant, to ensure that I’m really happy with my meal, given the fish incident, gave us a medley of cakes and tarts for free.



There was (in the order starting from near to far) a lemon cheesecake, chocolate orange tart, strawberries on tiny cakes, cinnamon tart, and crème brulee on apple pie. Well, these are the names that I fixed for them because I’m sure these cakes have good names to match their exquisiteness. I ate the cakes in the order above, with one tasting better than the next. Therefore, the crème brulee on apple pie was the best, when I would have been most happy with just the lemon cheesecake. So, you can imagine how good the crème brulee on apple pie must have been.

At the end, we were really full. I think I need to go on a diet. Good thing J is going back to KL tomorrow.

Dow jumped 170 points on Friday Morning

The 77 points drop yesterday has completed the sub-wave iv. On Friday morning Dow jumped 170 points within the first one hour of trading to mark the starting of sub-wave v. Wave iii should be completed within next week. After that Dow has another two waves to go, the wave vi and wave v to complete the mega wave B that has started in March 2009.

Karambunai

It moved up another 50% after breaking the 12.5 sen neckline of the lower degree "double bottoms". Volume traded was about 400 millions share, a fantastic volume. Will it break its higher degree "double bottoms" neckline at around 26 sens? Once it is broken, the next minimum target is about 50 sens.

Karambunai

Karambunai Corporation Bhd (KCB). flagship asset is the Nexus Resort & Spa Karambunai, a premier luxury 5-star 485-room international-class resort hotel with a world class 18-hole golf course that lies within a 4,000 acre of eco-sanctuary that is nestled by South China Sea on one end, rolling hills in the center, and a natural cove on the other end. A natural perfection of white sandy beach, wetland, crystal blue cove and natural rain forest.

KCB is also a major property developer in Kota Kinabalu (KK) with its 415 acres of mixed residential and commercial development in Bandar Sierra, which is about 15 minutes drive from KK. KCB also owns 1,363 acres of land in Bukit Unggul Eco-Media City with a 18-hole international class golf course located within close proximity to KL International Airport and Putrajaya.


Within two days its share price moved from 5.5 sens to 12 sens with very high trading volume following an article published on The Malaysian Insider.

Talking about a proposed Integrated Resort (IR) at Karambunai, Sabah, that could potentially include a casino.




Technically it appeared that the March 2009 low can be the bottom for KCB. Since then it has completed its wave (1) & (2). There is a short-term 'double bottoms' formation and a longer-term higher degree 'double bottoms' as shown above.


Today's closing price of 12 sens is 0.5 sen away from its neckline of 12.5 sens. If it can breakaway from the neckline with high volume, the immediate target price is 20 sens. Breaking of the higher degree neckline at 26 sens will see its next price target at 50 sens. However, if the casino talk vaporizes, its stock price will plunge.

Sunrise Bhd & Ingress Corporation Bhd

My friend asked me to have a look at Sunrise Bhd, a property stock. My reading on its chart is as shown above. If its may correction to Rm 1.70 marked the end of its major wave (II), its major wave (III) has already started. My projected minimum price for the major wave (III) is Rm 3.35



Ingress put on 4.5 sens to closed at 88 sens at the close of today trading session. It appeared to me that its sub-wave iii of its wave 3 has started to accelerate.

Email from Isle of Wight

Isle of Wight, slightly smaller than Singapore, is located about 100km to the South-West of London.


My daughter sent me the following email on her visit there.

************************

Hi

I have just returned from the Isle of Wight with my friend SY. It was a rather relaxing holiday and there is really nothing much to do there.We stayed near the old village in Shanklin, which I think is the cutest part within Isle of Wight. We ate crabs and stayed in a lovely B&B called Fernbank.

There are castles and beaches to visit but we were rather lazy. However, we did go to Osbourne House, which is the house where Queen Victoria raised her family. It was a nice place with a garden which supplies the food and flowers consumed by the household.There were also playhouses for the children, where there can learn to grow up and play, outside of the scrutiny of public.


The garden is still functioning today and it is filled with pears, apples, flowers, and pumpkins. Quite interesting. The pears and apples looked very juicy and ripe and SY and I were hungry. But there is a sign which says that everything in the grounds of the house belongs to the Crown (or something like that). So, whilst it was tempting, SY and I decided not to pluck the pears that were dangling from the arches. Just in case the queen decides to deport us. Imagine having to explain to my collegues about that.


Today, just before returning, we decided to sit in the garden of one of the teahouses in the old village (it is the white building on the right hand side of the village picture), winner of the teahouses on the island and had scones and tea. The scones were good, but if I really have to choose, to me, the ones from the HoneyPot in Penzance were better. I think now, my standards when it comes to eating (not making) scones have been raised tremendously.



We did that yesterday, too, but in a different tea house. The weather was very nice and tea was fun. Had cakes and all, and chat for 2 over hours, like some real Tai-tais.

So, it was a very relaxing holiday. Well, until the next holiday.

**************************

It is always an enjoyment to me to read her mail. I can feel and visualize her relaxing, joyous and quiet (to avoid deportation) walk in the Queen's Garden. I started to have in my mind scene of Keanu Reeves "A Walk In The Cloudes". My imagination has started to run wild :).