Weekend Review - Dow, FBMKLCI and KSL

Dow

If the current pullback for Dow is a minor correction, a very minor wave ii of mini wave 3's correction, then Dow should continue to set new records next week. Sub-wave iii will be able to last until May or June.

If Dow failed to move higher next week, it is possible that a higher degree correction, the mini-wave 4 correction has started as shown below. Sub-wave iii may end in February to be followed by sub-wave iv and v.

FBMKLCI

There is not much changes to FBMKLCI, it continues its journey to complete its major wave 3.

It is forming its wave (v) as shown below.

FBMKLCI so far has completed its sub-wave i, ii and iii of its wave (v). Sub-wave iv is being formed, it may take another week or two to complete unless the 31st December high of 16,576 is not the end of sub-wave iii.

KSL Holdings Bhd (Rm 2.33)

KSL started to move higher with high volume last week. It looks like wave (iii) of its major wave 3 has started.

It has started to pull away from the 'neckline' of its 'inverted head and shoulder' formation.

KSL has reported very good earning for its last three quarters. Its earning per share for its 1st, 2nd and 3rd quarters are 12.39 sen, 17.26 sen and 17.70 sen respectively. If it can report another 17 sen for its last quarter ending December, its earning per share for 2013 will be 64.35 sen. Its net assets is Rm 3.34 per share. At Rm 2.33, KSL is definitely a value buy for me.