Sunday, October 31, 2010

Karambunai - Other possible wave counts

It is learnt that the project may look like Singapore's Marina Bay Sands.

Is this a rumours ?????

My previous wave count for Karambunai was wave (i) - (ii), sub-wave i,ii,iii,iv as shown above. At this stage sub-wave iv has completed its a-b-c-d-e form by last Friday. This wave count remains acceptable if its stock price can start to move up strongly with high volume on Monday or Tuesday, the latest. Failure which, if its stock price continue to drift side-way next week, it is more likely that its wave pattern may take the following form.

The wave count will take a more bullish form of waves (i) - (ii) and sub-waves i - ii as shown above.

If the side way price movement continue into a much longer period, its pattern may develop into a waves (i), (ii), (iii) and (iv) wave form as shown below.

This is a good example to demonstrate how the wave forms of stocks or indices such as Dow can change with further price development and with time. The final form is the resultant of a mixture of news and human behaviours/reactions to the news.

There may be a few possible wave counts for Karambunai, I personally feel that upwards price movement is not over yet based on its double bottoms formation as shown in the 10-year long-term chart, assuming that the stock markets especially Dow can hold up long enough for Karambunai's double bottoms to complete its form. Chart pattern can fail with changes to the overall market condition.

Friday, October 29, 2010

Dow - Wave iii has 9 sub-waves

Parrot Flower

The intraday 140 points drop on Wednesday, on half-hourly chart, it can be considered as the sub-wave 6 of wave iii. Look out for 9 sub-waves for wave iii.

FTSE has a similar wave count as Dow. As Dow proceeds to complete its sub-wave 7,8 and 9 for its wave iii, FTSE will be completing its sub-wave 5 of its wave iii

After completing its wave iii and iv, the next surge for FTSE, its wave v, to 6000 is likely to be the last surge if wave (3) has only five waves. The possibility of nine waves for wave (3) cannot be ruled out at this stage.

Singapore STI's chart shows great similarity to that of FTSE with similar wave count.


Has YTLE completed its sub-wave iv ? If the interpretation below is correct, then YTLE has completed its sub-wave iv. If today's candlestick closing at Rm 1.42 is the first candlestick of its sub-wave v, next Monday's trading volume for YTLE should be higher than today with the second candlestick going above Rm 1.50. Failure which, today's surge is a sucker wave b, it price may go down to Rm 1.20 to complete sub-wave iv.

Thursday, October 28, 2010

You've Got Mail

All my children are oversea, any email from them talking about a little bit of this and that of their life can always make my day brighter and more comfortable knowing that they are OK over there. An email such as the one below that I received yesterday is lively and amusing.


No need to envy la. These are all the good things I tell you. The not so good one, I keep to myself. For example, having to do essays.

There was this question:

Say you are a doctor and you have 5 patients of very rare blood type, each requiring a different organ within the next 24 hours or else they will die. There is this homeless guy who also has the same very rare blood type who just came in for minor treatment. As a doctor, will yoy kill him and take his organs to save the lives of the 5 people (assuming that you will not get into trouble with the law).

Pening, right? Have to go to art museum for inspiration.

Oh yeah, today I have sore throat because yesterday I went to try this award winning hot chocolate. So kau, I had to keep on drinking and asking them to add more milk. So, quite tai also because I think I drank 2 cups for the price of one. But now sore throat, so this morning, san chou lau lau, I took the tube to Chinatown to buy Wong Lo Kat. Thinking of ponteng today, it is very cold outside, raining some more.


Simple words, simple little thing that can make my day better. Wong Lo Kat should cure the sore throat. She used to talk a lot when she was small. She always likes to climb up my back, “Papa Ngo May Lei”.

That was long long Ago.

Wednesday, October 27, 2010

Dow dropped close to 140 points

Dow is currently down about 140 points after 2 hours of trading on Wednesday morning. If Dow remains at this level at the close, sub-wave 5 and wave iii is likely to be completed. Next one month will see the formation of wave iv, a 7% pull back is my estimate. This is assuming wave iii as shown above, has 5 sub-waves only. It can have 9 sub-waves, then wave iii is extended.
However if at the closing bell, if Dow can reduce the losses by half, then the wave iii has yet to be ended.

Tuesday, October 26, 2010

Inch Kenneth, Karambunai, YTLE and IJM Land

A salute to the Architect for his courage

Inch Kenneth

Today's the price breakout indicates that the 82 sen level is not the end of wave v, it is only the sub-wave i & ii of wave v.


I expect sub-wave v to break the 'Neckline B' at 27 sens level to complete its wave (iii) before taking a pause to form its wave (iv)


For YTLE the uncertainty is whether its wave iii is completed. If wave iii consists of only five sub-waves and is completed, we have either scenario (A) or (B) its price may drop to Rm 1.20. However if wave iii has nine sub-waves, then it is very likely that the current wave is sub-wave (vii) as shown above as scenario (C).

IJM Land

The wave count is very bullish, another case of wave 3 of major wave (III) of mega wave (3)

On its way to complete the mini wave v of sub-wave (iii) of wave 3. Its warrant A at Rm 1.29 with a conversion price of Rm 1.35, looked very attractive.

Monday, October 25, 2010

How much longer the market can last?

Courtesy of

Whether it is major wave 6

Or it is mega wave (IV)

Dow 5-Year Chart

The rebound since March 2009's low of 6,547 will have only 3 waves for both cases. Wave (1) & (2) were completed, sub-wave i & ii of wave (3) were also completed. sub-wave iii as shown below will be completed within a week or two. November may see the completion of sub-wave iv with a correction of about7%, sub-wave v is likely to complete in January 2011. Watch out for a double tops formation when v reaches the top of iii. If wave (3) has only five sub-waves, this bear market rebound can end in January. However if wave (3) has nine sub-wave as shown above, it is likely to last until July 2011. Click on the chart to enlarge it.

Bursa Malaysia Industrial Index

BM Industrial has completed its mega wave (I), (II), (III) & (IV) since its 1998 Asian Financial Crisis's low. Its mega wave (IV) pull back was caused by the 2008 US financial crisis. I expect the industrial index to complete its mega wave (V) when Dow completes its major wave (3), the two indices will move south together.


To be a Malay and a Bumiputra is very easy. All you need to do is to become a Muslim, marry a Malay and your Children will be classified as Malay and Bumiputra and of course for the Malaysian of Chinese origin, they will have to give up their ancestor surname, which is a very very big crime/sin to the Chinese and is likely to be disowned by the clan.

Friday, October 22, 2010

Import - Export

Courtesy of


Tan Zhongshan, from Ipoh, in June 2010, received a first–class honours in Bachelor of Arts (Law) at Queen’s College, Cambridge, he also won the “Slaughter and May” prize, awarded by the Law Faculty for the student with the best overall performance. In addition, he managed to bag the Norton Rose Prize for Commercial Law, the Clifford Chance Prize for European Union Law and the Herbert Smith Prize for Conflict of Laws.

The dean of Queen’s college, Dr. Martin Dixon said, ““He is probably the best Malaysian student I have seen in the last 10 years. …………..”

Tan expects to complete his Bar examinations by the end of 2011 and said, “I will also join the Singapore Legal Service in January”.

After completing his A-levels at the Temasek Junior College, the Singapore Ministry of Education awarded him an Asean scholarship.

Thursday, October 21, 2010

Karambunai, Salcon and YTLE


Sub-wave iv can be completed


My friend asked me to have a look at Salcon. My chart reading for Salcon is as shown below.

Its OBV is impressive, the stock is being accumulated. Its major wave (III) has started. It is currently forming sub-wave v of wave 1 as shown below.


It is currently forming its sub-wave iii of wave 3 of major wave (V).

The question here is whether sub-wave iii has been completed. Possibility 1 as shown above, sub-wave iii has only 5 waves and is completed and it is currently forming wave a-b-c of sub-wave iv.

However if sub-wave iii has 9 waves, the last pullback is mini wave vi and it is currently forming mini wave vii as shown above.