A test of patient.

KSL failed to take-off today and instead it started to pullback. If it continues to go lower in the next few days, then it is forming the mini wave 4 of sub-wave iii. However KSL still can run higher in the next trading session after today's one-day rest.

Golden Pharos looked more and more like forming an a-b-c wave (iv).

Priceworth looked exciting today. Is this green candlestick the first candlestick of sub-wave iii ? If it can move higher than 24 sens in the next few days, then it is sub-wave iii.

 

But if it is unable to move higher than 24 sens, then its is forming an a-b-c sub-wave ii. 

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Dow - No danger

I expect Dow to move higher in the next few days to form the minor wave iii of its mini-wave 5 of sub-wave iii of wave (xi). The next possible major turning point is at wave (xiii), Dow will take a few months to reach that point if I am right.

A crucial level to watch is the 16,800 level. I will have to revise my wave count if Dow goes below that level. Once that happened, it can mean that Dow has a failure mini-wave 5 and its sub-wave iii is completed. 

If Dow has no danger, you need not worry about FBMKLCI. Keep a close watch on KSL. Hopefully it can open with a gap with high volume on Monday and move on with its minor wave iii.

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KSL, GPharos and Priceworth

KSL Holdings Bhd (Rm2.46)

The Friday's candlestick of KSL looked bullish. If KSL can open with a gap next Monday and started to move higher, then it is the minor wave iii of mini-wave 3 of sub-wave iii of wave (iii). Very bullish.

Golden Pharos Bhd (Rm 0.905)

It appeared to me that GPharos is probably forming the wave b of its wave (iv). Wave c may bring the stock to 65 sens level to complete its wave (iv). Be careful.

Priceworth International Bhd (Rm 0.205)

For 4 days, PWorth is able to hold around 20.5 sens level. Can this be the bottom of sub-wave ii. If it can move higher next week, that can be the starting of its sub-wave iii.

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KSL and Golden Pharos

KSL Holdings Bhd (Rm 2.46)

KSL added 10 sens (+4.2%) today to close at Rm 2.46. Mini-wave 3 in progress.

With a quartery earning of 15.80 sens a share and net assets per share of Rm 3.49, its closing price of Rm 2.46 looked cheap. Looking at its long-term chart below, it has a potential of going to Rm 5.00 or Rm 6.00 if its quarterly earning of 15.80 sens can be maintained.

Golden Pharos Bhd (Rm 0.895)

Finally, I managed to find out the reason for its high quarterly earning (January to March 2014) of 14.84 sens a share. Out of its quarterly gross profit of Rm 29.43 million, Rm 27.29 million came from an one-off logs sales proceeds from a tender to extract logs from 2,076 hectares of its 2,553 hectares timber concession that was given to the company by the Terengganu State Government earlier. Without this one-off item, its gross profit from its normal operation for the last quarter is only Rm 2.14 million. For this reason, I don't expect its next quarterly earning to be good.

From its long-term chart, GPharos is forming its wave (iii) currently.

At this moment, GPharos is either forming the sub-wave iii (very bullish option) of its wave (iii),

Or it has already completed its wave (iii) and is forming the wave b of its wave (iv) as shown below.

If its next quarter earning is not expected to be good, it is more likely that GPharos is having its wave (iv) correction at this moment. I am not as optimistic as before for this stock and I have started to reduce my holdings on this stock.



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Priceworth, KSL and Golden Pharos

Priceworth International Bhd (Rm0.22)

PWorth has completed 9 mini-waves to form its sub-wave i. Sub-wave ii is in progress. Hopefully sub-wave iii can bring the stock to 35 sens level.

KSL Holdings Bhd (Rm2.26)

The powerful surge a week ago that I thought was the starting of mini-wave 3, it turned out to be the wave b of mini-wave 2. KSL gained 2 sens today with improved volume. Hopefully this is the starting of mini-wave 3.

Golden Pharos Bhd (Rm0.88)

Option 1 : 
If GPharos can start to run and go above the Rm1.00 level, then it is possible that it has completed its sub-wave ii correction and it is forming its sub-wave iii at this moment. Hopefully sub-wave iii can reach at least Rm1.50.

Option 2 :
If GPharos is not able to cross the Rm1.00 level next week, then it is possible that the previous peak is the end of wave (iii), it is forming its wave (iv) at this moment. It may need another 2 weeks to complete its wave (iv).

 

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Dow - Closed above 17,000 for the first time

Dow set another new high and closed above 17,000 level for the first time. It added 92 points on Thursday to close at 17,068. Mini-wave 5 of sub-wave iii of wave (xi) continues.

Still a long way to go before Dow reaches a possible major turning point at wave (xiii). Only at that junction I have to worry whether Dow is going for its major wave (6) correction,

 

or the assets bubble has finally burst, where the mega wave 2 correction can bring Dow to 10,655 level for a 40% pullback. The worst case scenario is a 100% retracement for mega wave 2 to go back all the way to its starting point at 6,547 level.

 

Hopefully Dow can be well-behaved in completing its wave (xi), (xii) and (xiii), I do not wish to have a heart attack.

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Golden Pharos Bhd

GPharos gained 11 sens (+13.5%) today to close at 92 sens with improved volume.

It is either forming its sub-wave iii currently,

Or it is forming the wave b of its wave (iv).

If it can continue with its up-trend and break the Rm 1.00 level with higher volume, it will be more convincing that sub-wave iii is in progress.

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