Sunday, May 3, 2015

Weekly Update

Crude Oil WTI (US$ 59.16 a barrel)

At the starting of wave 4 which is expected to last until 2017. The next plunge to below US$ 30 a barrel, the wave 5, is likely to be caused by the 'pop' of assets bubble.


Dow (18,024)

Forming the mini wave 3 of sub-wave v of  'ending diagonal triangle' wave (xiii).

Since I am expecting the assets bubble to burst in 2017, the next pullback is more likely to be major wave (6) instead of mega wave 2 correction.




FBMKLCI (1,818)

KLCI is forming its mega wave 5 which is expected to last until early 2017.


At this moment it is very likely that KLCI is forming its mini wave 2 which may end at around 1,780


Or it may go for a 100% retracement to the starting of its mini wave 1 at around 1,673.


Let's look at Khoo Kay Peng's group of companies this week.

Malayan United Industries Bhd (Rm 0.205)

From its major wave 1's peak of 32 sens (at the beginning of January 2015), it has dropped more than 30% so far.

Since it has punched through its 23 sens support level in the last few days, Mui is likely to go to either the 19 sens level for a 40% pullback or the 16 sens level for a 100% retracement to the starting of its major wave 1 to complete its major wave 2.




Pan Malaysia Corporation Bhd (Rm 0.225)

Since its December's surge has only 3 waves, it is likely that the surge is a X wave rebound.


PMCorp is forming a a-b-c-X-a-b-c corrective wave. Don't forget that it has zero borrowing and its cash per share is 17 sens.


Pan Malaysia Holdings Bhd (Rm 0.285)

A fundamentally very weak company. Rightfully it should stay at around 6 to 10 sens.

Since the announcement of Dr. Yu Kuan Chon's proposal to take over 69% from Khoo Kay Peng in December 2014, PM Holding went to as high as 52 sens.

My reading for  this stock is as shown below. I hope I am right.



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