Oil & Gas

Crude Oil WTI (US$46.34)

Crude Oil (WTI) dropped to US$46.34 on Wednesday morning. It is likely to go lower in the next few trading sessions to around US$43.00 level to complete the wave c of its wave ii before resuming its up-trend to form its sub-wave iii. I expect this sub-wave iii to end at around US$60.00 level.

Perisai Petroleum Teknologi (Rm 0.355)

In tandem with the crude oil price, oil and gas related stocks of Bursa Malaysia are likely to move lower in the next few trading sessions.

Perisai is forming its wave c of ii currently before its next surge.

Alam Maritim Resources Bhd (Rm 0.51)

Similarly Alam Maritim is expected to complete its wave c of ii in the next few trading sessions.

Bumi Armada Bhd (Rm 0.995)

Armada's wave form is slightly different. It has formed 5 sub-waves in an up-trend channel. It is likely to drop lower to Rm 0.90 level to complete its sub-wave ii.

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Sigh !!!

Khairuddin and Matthias Chang were finally charged under Section 124L of the Penal Code for attempted sabotage of the economy and the financial and the banking sectors, which carry a jail term of up to 15 years upon conviction.

They were charged for making police reports in Malaysia, Singapore, Switzerland, France and Hong Kong against 1MDB.

Some criminal and constitutional lawyers said that it won't be easy for the prosecution to prove that lodging police reports over alleged wrongdoing in 1MDB is an attempt to sabotage the economy.

Click 'Lawyers say tough to prove' for the article.

However, if ultimately the prosecutor is able to win the case and put them to jail, then in future any financial analyst, economist, fund managers, investor, columnist etc etc can be put to jail for saying anythings that have a negative impact on economy, finance or banking.

Then a sentence such as 'the assets bubble is likely to burst in 2017' and what Marc Faber has said, 'stocks are about to fall 40% - at least' could be deemed as an attempt to sabotage the economy and those involved could be jailed up to 15 years upon conviction.

Or am I too imaginative ?

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Dow - It is not forming a-b-c-d-e

Dow (17,050)

Dow added another 138 point on Thursday and pulled further away from the upper channel line. It appeared that my previous assumption that Dow is forming a a-b-c-d-e sub-wave ii is wrong. Its sub-wave iii has started.

FBMKLCI (1,692)

If Dow is not forming a-b-c-d-e, there is a possibility that KLCI may not form a-b-c-d-e too.

Then KLCI may move in tandem with Dow by breaking its upper channel line in the next few days and has its sub-wave iii.

Perisai Petroleum Technologi (Rm 0.365)

I found One petroleum stock rather interesting. Perisai has an OBV break out while its share price is almost at the bottom.

Is it forming a (i)-(ii), i-ii wave?

For its quarter ending 30th June, earning per share is 0.13 sen. Net assets per share is Rm 1.07. Its borrowing is rather heavy at about Rm 1.2 billion.


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Crude Oil - Wave 4 rebound on course

As mentioned in my earlier post in September, the September low is likely to be the end of wave 3 and wave 4 has started and I expect this wave 4 to end around US$80 in 2017.

Looking at the daily chart, if crude oil price (WTI) continues to move above US$50 a barrel, then sub-wave ii of wave 4 is completed.

But if in the next 2 week if prices move lower to US$44 again, then the current high is the wave b of ii. We will have to wait for November for the starting of sub-wave iii.

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From the Malay Rulers

After the pre-council meeting of the Conference of Rulers, following statements were released by the Keeper of the Rulers' Seal:

* The Malay Rulers want the Government to complete the investigation related to 1MDB as soon as possible and take "the appropriate stern action" to all found to be implicated.

* All enforcement agencies and regulatory institutions such as the Police, MACC, Bank Negara, A-G's Chamber and the Judiciary, as well as related government bodies should be worthy of God's trust and the people's faith with transparency, credibility and integrity.

* And would like to remind leaders of political parties and NGOs not to sensationalise racial and religious issues to garner support from the people for the parties or for themselves.

Click 'The Sultans Have Spoken' for the article from Malaysia Chronicle.

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Sub-wave ii continues.

Dow (16,472)

Very likely, Dow is forming a 3-3-3-3-3 a-b-c-d-e sub-wave ii.

Dow added another 160 points after one hour of trading on Monday morning.

Wave d is likely to end at 16800 level.

Dow has completed its major wave (6) and is on its way to form its major wave (7).

FBMKLCI (1,647)

Similar to Dow, KLCI is also likely to form a a-b-c-d-e sub-wave ii

KLCI is in the process of forming its major wave 5 which is expected to last until 2017.

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When will dy/dx=0

When dy/dx is approaching zero

He doesn't like Bee Gee


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