Tuesday, April 26, 2016

Zhangjiajie 张家界 - Wonderland

I am back from Pandora, a densely forested habitable moon, featured in Avatar.

In Zhangjiajie, the quartzite sandstone pillars are results of millions of years of physical weathering.


Big Canyon

To The Sky Gate

Phoenix ancient town


 It may look small but each of them can swallow away 2.6 billion evils.

FBMKLCI (1,684)


As I have mentioned previously, KLCI is at its major wave 5.

So far it has completed the wave (i)-(ii) and sub-wave i of its major wave 5

Sub wave ii has started.


Friday, April 15, 2016

Crude Oil WTI - Going for its last plunge ?

Crude Oil WTI (US$ 40.41)

It appeared to me that crude oil price has completed its mini wave 4 rebound.  

Mini wave 5 is likely to retest its previous low of US$ 26.00 to complete the sub-wave v of its wave (iii).

I expect the next wave (iv) rebound to last for more than a year and can reach as high as US$ 60.00.

Dow (17,897)

Dow closed at 17,897 on Friday.

If crude oil's rebound has ended, it is very likely that Dow has completed its sub-wave i and it will come down in tandem with the crude oil price.

FBMKLCI (1,727)

If crude oil price were to retest its previous low of US$ 26.00, I would expect the Ringgit to drop and KLCI to move lower in tandem with crude oil price and Dow. Because of this reason I have revised the wave count for KLCI.

It is possible that sub-wave i has ended. Be careful.


Wednesday, April 13, 2016

Asian Markets Jumped on China Trade Figure

Global stocks rose on Wednesday on improved trade data from China.

Asian markets closed strongly.

European markets opened with 2% gain.

China exports in March returned to growth for the first time in nine months. March exports rose 11.5% from a year earlier, the first increase since June 2015. 

EG Industries Bhd (Rm 0.855)

I expect the mini wave 9 to end at about 80 sens.

But the last wave of a long corrective wave can be quite unpredictable. It can have a normal end or end with a sharp sell-off followed by a sharp rebound, a V-reversal, and it also can end with a failure wave as shown below.

EG has a small rebound today. If it continues to move higher tomorrow with higher volume, then there is this possibility of a failure mini wave 9. This can be confirmed if EG can go higher then 87.5 sens.

Then the next question is whether the next up cycle is the very bullish wave (iii) of major wave 3 ?

Or it is the wave b of major wave 4 ?

Hopefully the volume can give us some indication whether it is wave b or wave (iii). Theoretically wave (iii) of 3 of (3) is expected to be very dynamic with record volume. If the volume is so so and price movement is half-dead then it is more likely to be wave b.

Ministry of Youth and Sport (Rm 10.00)

Minister Khairy presented a mock cheque of Rm 10.00 to the happy under 9 winner.

The event, which was held on 9th April, was organized by the ministry to encourage youngsters to take up cycling as well as to identify young cycling talents. 

The mock cheque itself is likely to cost more than Rm 10.00.

I guess this is what the ministry can afford after one of its senior officers has misappropriated Rm 100 million meant for sport development.

Malaysia boleh


Saturday, April 9, 2016

Weekly Update

Crude Oil WTI (US$ 39.64)

Crude oil price is forming its wave c of 4 which is expected to end around US$42 before its final mini wave 5's plunge to below its last low of US$26.

Dow (17,576)

Dow has completed its mini wave 3 with a diagonal minor wave v

FBMKLCI (1,718)

KLCI is forming the mini wave 5 of its sub-wave iii.

EG Industries Bhd (Rm 0.875)

The January high is either the higher degree major wave 3 or it is the one degree lower wave (i).

If it is the major wave 3, then EG is about to complete the sub-wave iii of wave a of its major wave 4. Then the next up will be the wave b of 4.

But if the January high is the wave (i), then its is very likely that wave c of (ii) is about to end and the next up is going to be a very bullish wave (iii) of 3 of (3).


Sunday, April 3, 2016

Mulpha International Bhd (Rm 0.305)

Mulpha might have added only half a sen on Friday but its OBV has set a new record high accompanied by improved volume. Its mini wave 7 of sub-wave i has started.

Hopefully the 24.5 sen low recorded on 26th January is the bottom for Mulpha and it is on its new up-trend.