Has Singapore STI turned south ?

Mini wave vii is almost there, next pull back will form the mini viii and then the mini wave ix, which provides another possible terminal location for major wave B. Mini wave ix can be completed within February.

Singapore STI

It is possible that Singapore STI has joined Hang Seng and Bombay in heading south. All the three bourses have their respective peaks in November.

Another possible wave count is as shown below.



However if STI is unable to have a strong run up next week, this option can be ruled out especially if STI continues to drop further.

More Comments on Valentine's Day Celebration

Malaysian Islamic Development Department (Jakim) director-general Datuk Wan Mohamad Sheikh Abdul Aziz said,” Islam would reject anything, even from the Eastern culture, if it contravenes the Islamic teachings,"

"That is why a fatwa (edict) was issued to prevent and advise Muslims not to celebrate Valentine's Day because in reality, as well as historically, the celebration of Valentine's Day is synonymous with vice activities," he said.

To read more, click Malaysia Chronicle.

From The Star Online

Well Done Tan Chin Leong

We need more young man like him

In preparation for next Monday Valentine's Day

This is Boleh Land

Let's get out of the Star Online

In Japan

On Valentine's Day, it's common for Japanese women to give chocolate to men. Men give various gifts to women on March 14th called White Day. Japanese women are encouraged to express love to men by giving chocolate and other gifts on February 14th.

Nice to have Japanese Girlfriends

Bombay BSE30 taking the lead

Divergence can be noticed between Dow and some Asian Bourses. Hang Seng has started to go south. Bombay is quite clear by now that it's major wave C has started.

DOW

If sub-wave 5 has only 9 mini waves and wave (iii) has only 5 waves, major wave B can be completed within 2 weeks before end of February.



However if wave (iii) has 9 waves as shown above, Dow is likely to drag until April if its prices can be kept within the channel for a wedge formation.

Bursa Malaysia

Bursa Malaysia FBMKLCI dropped by about 2% today, said to be caused by the dumping of shares by foreign funds in respond to an article (click to read) written by former US Ambassador to Malaysia John Malott. Despite the sharp drop, the Industrial index is able to stay above the lower support line.



Based on Bursa Malaysia's figure, foreign fund turned net seller in January 2011 with negative Rm 0.1 billion.

When will the music stop ?

Dow put on another solid candlestick on Monday.

Sub-wave 5 continues to move higher to form its mini wave vii after completing its mini wave vi at the end of January.

I can't tell for certain that sub-wave 5 will end at mini wave ix. I also can't tell whether wave (iii) will end at wave 5 or it will continue to form wave 6, 7 and 8 and end at wave 9 to complete the major wave B, but I am pretty sure that this is a volatile last journey. It can be very juicy for some penny stocks but make sure that there is a chair when the music stop.

I wouldn't want to talk about buying stocks for longer term investment at this level at this moment, this is possibly the worst time to do that. To move into the market now is more of chasing a moving stock to test your skill, to make some fast money and hopefully there are always some unlucky poor fellows to buy over your stocks at an even higher price before the major wave C's plunge, if you can be that good.

And if you are caught, cut loss and be happy.

Bursa Malaysia - Penny Stocks

First trading day after the Chinese New Year continued to be dominated by penny stocks.

ASB is forming the mini wave v of its sub-wave v of its wave 3. Since wave 2 is a side way correction that stretches almost 12 months, wave 4 is expected to be a sharp correction with short duration.

Olympia is on course to complete its wave 5 of its major wave (III). It is possible that the sub-wave v of wave 5 is completed as shown below.




Karambunai put on 4 sens (18%) to close at 26.5 sen, reaching the neckline of its double bottoms formation.




The candlestick formed is very dynamic supported by very high volume of 179 million shares. It is forming its mini wave iii of its sub-wave iii of its wave 3 of major wave (3), still a long way to go provided Dow can continue to drag on, moving within the up-trend channel.

Well, Dow just dragged on.

Sub -wave 5 continues to trend upwards within the channel.

It appeared that the sharp pullback a few days ago is the mini wave vi of sub-wave 5.

I would like to classify the market as high risk. It may continue to complete its mini wave vii, viii and ix but watch out for failure sub-wave 5 with some mini waves missing.

Gong Xi Fa Cai

Hi Friends Gong Xi Fa Cai, may the rabbit bring prosperity, good health and good fortune to all of you.