KSL Holdings Bhd

On 26th February, KSL reported a very poor result for its 4th Quarter ending 31st December. From its 1st, 2nd and 3rd  Quarters per share earning of 12.39 sen, 17.26 sen and 17.70 sen respectively, the 4th Quarter earning reported was -2.73 sen (negative earning). For the whole year, KSL still made 44.62 sen a share with net assets at Rm3.31.

My reading for KSL remains bullish, unless my chart interpretation is wrong. It is a (1)-(2), 1-2 and (i)-(ii) formation with strong support at Rm2.05 level. It closed at Rm2.10 today. If my interpretation is right, KSL is likely to hover around Rm 2.05 to Rm 2.10 for some times to complete the wave (ii).

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What Buffett said on Friday

1. He would be 'surprised a lot' if stock prices fell 50% in the near future.
2. There will be another financial crisis "someday" in the years ahead.
3. Dow will reach 100,000 but he won't live to see.

Click "Warren Buffett" for the CNBC report.

He has ruled out my 'Option 2' as shown below, where mega wave 1 has ended and Dow is forming its mega wave 2 that can go as low as 6,547 level, the March 2009's bottom.

So, he think that this scenario won't happen at this moment and in the near future. May be a 10% major wave (6) pullback is more likely, that is Option 1.

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Dow - Looking for a small surge before next major correction

Dow dropped 231 points (1.4%) on Thursday to close at 16,108. That can either be the wave ii of b.

Or it can be the wave b of sub-wave ii of mega wave 2, this is very bearish.

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Malaysia Boleh

"Eliminating me from the political terrain will not be the end of Karpal Singh. It will in fact lead to the rise of many Karpal Singhs."

 

"I am foregoing retirement from active politics to right an injustice for the benefit of my grandchildren."

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FBMKLCI - Rebound may have ended

FBMKLCI dropped 10 points to close at 1822 today. With that, the index has punched through its short-term lower resistance as shown.

It is very likely that the rebound since early February has ended. I expect the index to move lower for the next 3 to 4 weeks.

Option 1- Wave (vi) formation

This is a more optimistic option

FBMKLCI is likely to drop to 1750 level to complete the wave (vi).

Option 2 - Sub-wave iii

This option is possible but less likely at this moment.

Option 3 - Major wave 4

A pessimistic option. 

I expect the index to go to as low as 1574 level for another 13% drop

I am still talking about the same 3 possible options that I have mentioned previously but with today's 10 points drop, Option 2 becomes less likely. Another 10 points drop tomorrow will knock out option 2.


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Look at Ukraine for direction.

Dow (16,168)
Due to the escalating conflicts between Russia and Ukraine, Dow dropped 0.94% or 153 points to 16,168 on Monday. The drop marked the end of mini wave 3. Can this be the end of wave b rebound ?

Or it is the end of sub-wave ii of wave (i) of major wave (1) of mega wave 2 ? The bubble has burst. ?

It is also possible that sub-wave ii has not ended yet, especially if Dow has a strong rebound on Tuesday. I am still keeping the double-tops formation for sub-wave ii as an option. A seven-waves formation as show below can pave the way for a double-tops.

FBMKLCI (1,826.46)

FBMKLCI continues to hover around 1820 level. 5-Year wave count is as shown below with possible wave (vi) option.

If the index starts to move lower from its current level, it is likely that the last high is the end of wave b.

However, if the index breaks out of the upper short-term trend line, it is a bullish mini-wave 3 of sub-wave iii of wave (v).

Option 3 is the most pessimistic major wave 4 correction. The next down is the sub-wave iii.

Major wave 4 can possibly reach a low of 1,574 for a 16% pullback.

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Sunday Update

Dow (16,321)

My possible options for Dow remain the same. Dow is either forming its major wave (6)

Or it is forming its wave (ii) of its major wave (1) (going south) of its mega wave 2.

Or the optimistic wave (xi) that I have previously ruled out. I have to put it back if Dow continues to move higher for more historical highs.

PJ Development (Rm 1.44)

 

It is possible that its wave (v) and its major wave 3 has ended.

 

Latitude Tree (Rm 2.61)

 

It has reported an impressive earning of 19.52 sens per share for its second quarter ending December 2013. With its previous quarter earning of 15.02 sens per share, the 1st half-year earning is 34.54 sen a share.

The recent pullback can be the sub-wave 2 of its wave (v)

MK Land (Rm 0.435)

Its sub-wave iv is almost completed. Next up can be its sub-wave v.

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