Sunday, August 28, 2016

Weekly Update

Dow (18,395)

My wave count for Dow remains the same despite the fact that the magnitude and duration of mini wave 1-2 is about the same as that of sub wave i-ii.

The reason is that, based on the 60-minute interval chart as shown below, the up trend from 2nd August to 15th August which I have designated  as mini wave 1, has 5 advancing waves. My wave count indicates that Dow will complete its mini wave 2 on Monday morning and at the close of its Monday trading session Dow will be in positive territory that indicates the starting of mini wave 3

However if Dow failed to move higher on Monday, I will have to revise my wave count.

FBMKLCI (1,683)

KLCI is forming its sub-wave iv at the moment. Hopefully it can start to move higher next week to begin its sub-wave v.

Felda Global Ventures Holding Bhd (Rm 2.14)

Currently FGV is forming its sub-wave iv.

EG Industries Bhd (Rm 0.87)

EG is currently forming its sub wave ii. Hopefully it can complete its sub-wave ii next week and start to move higher to form its sub-wave iii. It should not drop below Rm 0.835.

Insas Bhd (Rm 0.655)

Insas announced an earning per share of 5.47 sens with net assets at Rm 2.04 per share.

It failed to move higher despite a jump-start at 66.5 sens. Hopefully Insas can move higher next week to start its mini wave 3.

Berjaya Corporation Bhd (Rm 0.33)

BJCorp ended Friday at its 9-year low of 33 sens. There is no way to tell how low it can go. At least the gradient of lines joining the lows has started to flatten.

The only positive sign at this moment is the divergence between the gradients of price's lows and OBV's lows.

The only thing that is sure is that BJCorp is greatly undervalued. Only those with lots of bullets can buy and hold until Vincent Tan has decided it is time to move his stocks.


Saturday, August 27, 2016

Pokemon Fever in KL

This viral Nintendo game has a way of bringing people together and sending crowds into a frenzy as they tried to hunt down the latest, hottest and most elusive Pokemon MO1.

You can hear them shouting, loud and clear, "Tangkap, tangkap, tangkap ..........."


Sunday, August 21, 2016

Weekly Update

Dow (18,552)

Dow is forming its mini wave 2.

FBMKLCI (1,687)

If KLCI is going for a shallow correction, it should start to move higher next week to form its mini wave 3.

But if it is going to have a higher degree of correction, it will continue to move lower to around 1,670 level to form its sub-wave iv.

Felda Global Ventures Holding Bhd (Rm 2.29)

If the next pullback for FGV is another one day affair, it is forming the mini wave iv as shown below.

And if the next correction is about 10%, it is the sub-wave iv.

EG Industries Bhd (Rm 0.895)

EG is about to end its mini wave 4 correction.

Insas Bhd (Rm 0.66)

Insas formed a long-legged doji last Friday, is it going for a reversal?


Saturday, August 20, 2016

1st Olympic Medal in Badminton Mixed Double

Congratulation to Chan Peng Soon and Goh Yiu Ling for getting our first ever medal in Olympic badminton mixed double and it is a silver medal, what an achievement !

Each of them will get a  Proton Suprima S from DRB Hicom.

Not many people know that Goh Yiu Ling was the cover girl for Malaysia's Long Life magazine in April 2015.

She is currently the brand ambassador for Maxs International that produces kinesio tapes for sports and health.

Chan Peng Soon looks more like a Korean film star.

Congratulation to Goh V Shem and Tan Wee Kiong for winning the Silver Medal in the Men's Double. They were so close from the gold medal. They won the first set 21-16 but lost the 2nd set 11-21. In the 3rd set they missed two consecutive game point before the top Chinese pair took the game at 23-21.

Aiyoh Dato' Lee, third time silver medalist. Anyway don't feel too sad, it is still a great achievement. So far no Malaysia has won a silver medal in three consecutive Olympics. Congratulation.


Monday, August 15, 2016

EG and Insas - Major wave 5 in progress

EG Industries Bhd (Rm0.89)

EG reversed with a strong candlestick with improved volume on Monday after forming 2 dojis last week.

This is likely to be the mini wave 3 of sub-wave i of wave (iii) of major wave 5. There is still a long way to go.

Insas Bhd (Rm0.675)

Insas gained 2.5 sens on Monday to indicate the starting of its wave (iii). It ended its wave (ii) with a failure sub-wave v of c.

This is the wave (iii) of its major wave 5.

Sunday, August 14, 2016

Weekly Update

Crude Oil WTI (US$44.72)

Crude oil continues to form its wave (iv). Currently it is at its wave a of (iv).

Dow (18,576)

If Dow continues to move higher next week, then sub-wave iii is on with more new record highs in the process.

But, if Dow were to move lower next week, then it is forming its wave c of ii.

FBMKLCI (1,684)

KLCI continues to form its sub-wave iii.

Felda Global Ventures Holding Bhd (Rm2.03)

FGV looked extremely bullish with its last two candlesticks that made its latest correction a one degree lower mini wave 2 correction.

EG Industries Bhd (Rm0.85)

EG formed a 'dragonfly doji' on Thursday followed by a 'gravestone doji' on Friday, both the doji signs indicate an impending reversal. Will it start to form its mini wave 3 next week?

Berjaya Corporation Bhd (Rm0.345)

BJCorp after forming its peak in 2010 it has been moving in a down-trend direction.

By drawing straight lines joining the low points, it can be observed that the gradient of the down lines has become smaller and smaller.

And from the 2-year chart, one can see that if BJCorp can hold at 34 sens and above, the gradient becomes zero giving a 'double bottom' reversal pattern. My wave count indicates a possible completion of wave C at this level with the completion of sub-wave ix of (v). Is this going to be the final bottom for BJCorp after 5 long years?

This stock has been strongly recommended by Calvintaneng since 2014. Click 'Berjaya Corporation - The Berkshire Hathaway of Malaysia' for his article that was first posted in September 2014 and was posted again in February 2016.

Please bear in mind that some of the figures/statistic stated in this 2014 article might have changed in the last two years due to some corporate exercise taken by the owner of BJCorp.


Thursday, August 11, 2016

FBMKLCI - Sub-wave iii continues.

FBMKLCI (1,678)

KLCI continued with its sub-wave iii after a day of rest. But based on advance-decline indicator, the market has moved up for 7 sessions in a row.

Felda Global Ventures Holding Bhd (Rm 1.97)

I have revised my wave count for FGV as shown. The last 5 days of correction becomes the mini wave 2.

RCE Capital Bhd (Rm1.08)

RCECap surged 30 sens on excellent 2nd quarter result. It closed limit-up at Rm 1.08. It reported a 4 folds increase in earnings per share of 5.4 sen following share consolidation (4 into 1) and capital repayment of Rm 0.075 per ordinary share.

Looking at the long-term chart, it has cut through its upper channel and is either forming its sub-wave i of (iii)

Or on a less bullish reading, it is forming its wave (iii) currently, but it will go to a higher level than sub-wave i in its current run up.

EG Industries Bhd (Rm 0.855)

Hopefully EG is forming the mini wave 1-2 of its wave (iii) of 5.


Monday, August 8, 2016

FBMKLCI - Breakout

FBMKLCI (1,672)

Election is coming.

KLCI is forming its sub-wave iii of wave(iii).

They sure can talk

And can talk very well

This is Malaysia

Talk and talk

Thinking of becoming a whistle-blower?


Saturday, August 6, 2016

Weekly Update

Dow (18,543)

Dow moved up strongly on Friday, gained 191 points (+1%). The two weeks of down-trend is too long to be a mini wave 4 that I have mentioned previously. It appeared more likely that it is the sub-wave ii, even though the sub-wave i has only 3 waves. If the current up is the sub-wave iii of wave (iii), it is expected to be strong and dynamic otherwise it is a small wave b of ii rebound.

FBMKLCI (1,664)

KLCI continued with a stronger second green candlestick, very promising. But it stopped right at the upper trend line. Can it punch through the ceiling next week? If the government is pushing, then sub-wave iii will continue. And of course if the government is not pushing, we can forget about the Malaysian stock market as long as the 1MDB issue remained.

Felda Global Ventures Holding Bhd (Rm1.95)

FGV gained 5 sens on Friday. With that it is either forming its mini wave 5,

Or it is forming its sub-wave v, if it can punch through its upper trend line.

Insas Bhd (Rm 0.64)

I have revised my wave count for Insas. Most likely it has not yet completed its sub-wave v of its wave c. It may need another 3 weeks to complete the sub-wave v unless it is a failure v.

EG Industries Bhd (Rm0.855)

I hope its Friday's green candlestick marked the starting of its wave (iii).

Dufu Technology Corp. Bhd (Rm0.62)

The next up-trend for Dufu is its sub-wave v.

Kronology Asia Bhd (Rm0.215)

Very likely Krono has started its major wave 3 since early July

The wave form will be very bullish if it can move to 24 sens to form its mini wave 5. This 5 waves can be taken as confirmation of the starting of its major wave 3.

The next pullback can either stop at 22 sens for its mini wave 6 or it can stop at 20 sens to form its sub-wave ii. Krono is likely to take a few months to complete its major wave 3.

RCE Capital Bhd (Rm0.75)

The wave form for its wave (i) is very bullish. I have been waiting patiently since November 2015 for it to complete its wave (ii). 8 months is indeed a long wait.

Identical to Krono, if RCECap can move to 79 sens to form a mini wave 5, it confirmed the starting of wave (iii). Then the next correction can either be mini wave 6 or sub-wave ii.