Dow gained about 100 points after 2 hours of trading on Thursday morning. With this 100 points, I can safely remove the wave (viii) scenario.
If Dow continues to move within its lower and upper trend-lines with low volume as shown below, then it is a diagonal wave (v), a terminal wave form. Mega wave 1 will end within this year.
Another possibility is Dow started to surge with high volume and breaking its upper trend-lines one after another as shown below. This is a typical crazy, euphoric run with fantastic volume before the bubble bursts, likely to be in 2014.
Bursa Malaysia
Malton gained 3 sen to 89.5 sen with high volume.
This is likely the wave b of sub-wave iv.
TA has started its sub-wave v today.
If Dow is going to lead the world bourses for a euphoric run, TA can be very interesting in its wave 3 run. Wave 2 correction can provide a good entry point.
Asian Pac Holding
This property penny stock looked interesting. The return can be fantastic provided my reading is correct and there is a euphoric run.
After breaking out of its upper trend line, Asian Pac is forming its wave 2 at this moment. It may drop back to 12 sen level before starting its wave 3 of (3). For 3 months ending March, 2013, Asian Pac earned 1.75 sen per share. NTA is 35 sen.
Its borrowing is high at Rm290 millions but it has Rm400 millions worth of investment properties and lands that must have appreciated by quite a lot. It has cash of Rm 83 millions.
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