FBMKLCI - Plunged 2.3%

FBMKLCI (1,778)

KLCI pulled back sharply today. It plunged to an intraday low of 1768 before closing at 1778 for a 42 points drop (2.3%). As long as it does not drop below the 1,768 level, it remained possible that it is forming the wave c of 2.

Berjaya Corporation Bhd (Rm 0.455)

Finally BJCorp broke the 47 sens support level to close the day at 45.5 sens. I have no choice but to modify my previous wave-count.

Its closing price of 45.5 sens is another 55-month new low for BJCorp. It is possible that the current down is the sub-wave iii of its wave (v) of major wave 5.

KSL Holdings Bhd (Rm 4.37)

It is possible that KSL is forming the mini wave 2 of its sub-wave iii.

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Dow - Be careful, be very careful

Dow (17,828)

Out of 19 trading days in November, Dow set new record high on 12 days. I think this is a record by itself. But there were no high record volumes and there was no euphoria. The current record bull run is so different from those good-old-day euphoric record setting bull run. May be because this is purely a liquidity driven run, an assets bubble run, and the bubble can burst anytime. So, be careful, be very careful.

FBMKLCI ( 1,820)

As long as Dow can hold, I will continue to maintain my present wave count for KLCI. It is on its wave c of its mini wave 2. Hopefully it can begin its mini wave 3 soon.

Hopefully KLCI can proceed to complete its wave d by early 2015.

KSL Holdings Bhd (Rm 4.54)

On Friday, the AGM has approved the proposed 1 for 1 bonus issue as well as the dividend reinvestment plan. KSL has also announced its 3rd quarter earning of 18.14 sens per share. Its net assets per share is Rm 3.87.

Earning for the first months reached 54.33 sens. Kenanga expects KSL to earn at least 78 sens a share for 2014 and 97 sens a share for 2015 (based on its current number of paid up share of 386 million)

Hopefully KSL can continue with its sub-wave iii next week.

Priceworth International Bhd (Rm 0.185)

PWorth has announced a positive earning of 0.23 sen a share after many many quarters of losing money. It has also announced quite a high figure for its October logs output of 9,485 cu.m. Hopefully it can slowing improve it monthly logs output from the current level to its estimated 100,000 cu.per month by 2017.

If 100,000 cu.m a month can be achieved by 2017 and KSL can increase its integrated timber mills operation from its current 30% of its available capacity to more than 70%, PWorth is going to be a goldmine. But, I am still worry about the assets bubble and when it will burst. 2017 is a long time to go. Sigh !

Malayan United Industries Bhd (Rm 0.27)

After suspended its share for 3 trading days, Mui announced on last Tuesday that the company is engaged in discussion with a potential party to explore the possibilities of disposing certain substantial assets of the company.

Currently Mui is forming its major wave 5. The stock opened with a gap on Wednesday, has a pullback on Thursday on thin volume and started to move higher again on Friday with high volume. This looked interesting. There were speculation that Mui may dispose its London Hyde Park Corus Hotel for £200 million or Rm 1.05 billion.

Mui is currently forming the sub-wave i of its wave (iii) of major wave 5.

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Dow - I am getting nervous as it moves higher

It is interesting to note that Warren Buffett's Berkshire Hathaway is keeping US$55 billions cash, a record high for Berkshire. Is he slowly building up his protection against any possible downside ?

Click ' Buffett Builds US$55b Green Pile' for the article published on 21st August, 2014.

Frankly speaking I am getting more and more nervous as Dow moves higher and higher with more record highs.

If Dow is well behaved, it will form its next minor wave ix. After completing its mini wave 3, it will then form its mini wave 4 and 5 and then my next question will come, "Is that the end of wave (xiii) ?"

 As wave (xiii) can be the end of Dow's major wave (5) unless it continues to form wave (xiv), (xv) and (xvi). The worst is when this major wave (5) is also the end of its mega wave 1.

Since the March 2009's low of 6547, Dow gained 70% for its major wave (1), 32% for its major wave (3) and until now its has gained 67% for its current wave (5) that has yet to complete. The only thing that gives me some comfort is the theory that 'wave 3 cannot be the shortest wave'. But, don't forget the Murphy's Law.

For the current major wave (5), wave (xiii) has gained 10.6% so far, the magnitude is about there. Be careful.


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FBMKLCI - wave 3 of d

FBMKLCI (1,833)

KLCI added 24 points (+1.3%) to end Monday's trading at 1,833. It appeared to me that mini wave iii of the wave 3 of d has started.

Wave d of major wave 4 is expected to last until early 2015. I expect wave e of 4 to take place during first quarter of 2015 follows by the major wave 5.

I hope I am right and more important, my stocks must moved.

Dow - Wave (xiii) moves on

Dow (17,810)

In an unexpected move, China's central bank cut interest rate on Friday. At the same time in Frankfurt the President of the European Central Bank (ECB) said the ECB will use more aggressive measures to prevent the Euro Zone from falling into a new crisis.

Dow has a jump start on Friday morning and moved to an intra-day high of 17,894. It closed at 17,810 for a 91 points gain (+0.5%), another new record high, its 9th new record in November.

I am assuming the Friday's surge as the minor wave vii of mini wave 3, but whether this is the sub-wave i of wave (xiii) or it is the wave (xiii) itself, I really have no clue.

And whether the end of this wave (xiii) is going to be the end of major wave (5) or the end of mega wave 1, I also have no clue. 

Hopefully the next pullback is only a small mini wave 4 correction follow by mini wave 5 surge for more new record highs until early next year when wave (xiii) is expected to end. But who knows, Dow may continue to move higher with mini wave 6, 7, 8 and 9. Anything can happen in stock markets. 

In 2012, I thought Dow will end at its wave (v) but it continued to run until wave (ix) by end of 2013. It refused to end there too. It then continued to move on to the current wave (xiii). Will  there be wave (xiv), (xv), (xvi) and (xvii) in front. I don't know, don't ask me. Some Gurus have been looking for a major drop for the last 2 years but Dow moved higher by another 40% within 24 months.

FBMKLCI (1,809)

KLCI is forming the minor wave ii. Hopefully it can start its minor wave iii of 3 of d next week.

Jasa Kita Bhd (Rm 0.235)

I hope Friday's drop is the minor wave ii.

Berjaya Corporation Bhd (Rm 0.475)

Has it completed its mini wave 2 ?

KSL Holdings Bhd (Rm 4.36)

From its 10-year chart, I am pretty sure KSL is either forming its wave (iv) or wave (v) at this moment.

Since I am expecting a good earning announcement and I am expecting the shareholders to approved the 1 for 1 bonus issue next week, I read the current correction as the sub-wave ii of its wave (v).

But it is also possible that it may drop for another 3 days to complete the wave c of its wave (iv) before the announcement of its Q3 earning and before the EGM on 28th November.

Small fish is always at the mercy of the big fish. Sigh !


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Jasa Kita Bhd

Jasa Kita Bhd (Rm 0.24)

Jasa Kita surprised me by making a powerful U-turn after closing the gap at 20 sens. It appeared to me that it is forming its mini wave 5 of sub-wave i.

If its current up-trend is the wave D of its mega wave (2), Jasa Kita has a possible high of 45 sens if it can reach the upper trend-line.

Dow (17,179)

Dow closed with another new high on Thursday, its 8th record high for November. Most followers of Dow are expecting a pullback. I just worry that the higher it goes without a meaningful correction, the harder it will fall when the correction comes.

Hopefully its next pullback marks only the end of its sub-wave i of wave (xiii) and not the end of wave (xiii).


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FBMKLCI - Wave 3 of d started ?

FBMKLCI (1,824)

KLCI added another 6 points and it looks more likely that wave 3 of d is in progress.

Jasa Kita Bhd (Rm 0.215)

Instead of moving higher, Jasa Kita moved lower on Wednesday to form a wave c for its mini wave 4. It may go to the 20 sens level to close the gap that was formed by the surge 5 days ago.

KSL Holdings Bhd (Rm 4.55)

Finally KSL closed the day with a small green candlestick. Can this be the starting of mini wave 3 of sub-wave v ?

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