Another boring week.

Dow (25,450)

Dow dropped continuously for five days from 26,026 to 25,450 for a 576 points drop (-2.2%). If Dow can start to move higher next week then the drop so far could be the mini wave 6.

But if Dow continues to move lower next week for a higher degree pullback, then the current correction can be the wave ii of its wave D.

During the next surge after the current pullback, the interesting question is whether Dow will stop at 27,000 level and will begin its steep 22% plunge to 21,000 level or it will punch through its ceiling and continue to move higher into record territories?

I wouldn't like to rule out this possibility but it will be hard for me to explain why wave C has only three waves instead of the normal five waves. Isn't Dow going for a classical 3-3-3-3-3 expanding triangles?

FBMKLCI (1,679)

KLCI is expected to move in tandem with the Dow. If Dow were to form its wave D and E, KLCI will follow with a wave iv and v to form its mega wave (6).

And If Dow can punch through its ceiling at 27,000 level and go higher, the wave count for KLCI will take the following form in forming the wave (iii) of its major wave 5 of its mega wave (5).

Inari Amertron Bhd (Rm 1.67)

Inari is expected to have a small wave c pullback to complete the wave ii of B.

Insas Bhd (Rm 0.78)

Insas is currently forming its wave ii. It can either be a straight down wave ii

or it can be a 'a-b-c' wave ii.

Pinehill Pacific Bhd (Rm 0.32)

After announcing its 8,999.13 acres of land sale to United Plantation Bhd for Rm 413,574,302.49 on 21 September 2018, Pinepac's stock price shot up from 14 sens to as high as 69 sens. Since then its price started to move side way forming a 3-3-3-3-3 a-b-c-d-e corrective wave ii. If Pinepac can either start to move up from here to form its wave iii

And of course it can also continue its side way consolidation with a 'X-a-b-c' or 'X-a-b-c-d-e'.

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Liew Chin Tong calling all Pakatan Harapan supporters.

Liew Chin Tong calling all Malaysian that had voted for the Pakatan Harapan (PH) in the G14 for support in the battle being waged against PH on two fronts following the latest development in the political scene.

"Whether the break-up of BN is real or just a drama, Umno and PAS already attacking Harapan from the Malay flank, while MCA and MIC are attacking Harapan from the non-Malay flank."

"The ethnic-based flanks raids were demonstrative of this attempt to win at all cost regardless of the destruction inflicted.  ....... Theses forces seek to render Malaysia ungovernable for Harapan."

"In this setting, there is no way Harapan can 'out-Malay' Umno, 'out-Islam' PAS, out-Chinese' MCA and 'out-Indian' MIC."

"For the 'New Malaysia' experiment to succeed, Harapan must emerge as a 'people's movement'. The people should not assume that since they have voted on May 9, 2018, (and have changed the government) it is time to sit back and watch. The struggle is not over yet."

"For Malaysians who believe that Malaysia does not need to be torn apart racially, 

those who believe that GE14 was a turning point to build lasting prosperity and peace for all,

and those who want Malaysia to stand tall in the eyes of the world,

we must stand together and form a movement to counter 
the divisive and racial 'movement strategy' of Umno-PAS and MCA-MIC."

Reformasi

Dennis Ignatius, "Genuine reform has always been viewed with hostility by Ketuanan Melayu politicians and their followers. For them, anything that limits their ability to manipulate people, institutions and situations to their advantage is quickly projected as existential threats to 'bangsa, agama dan negara'."

"It is no surprise then, that every time the PH government talks about reform, the Ketuanan Melayu propagandists quickly turned it into a racial or religious issue to block change."

"The reluctance of many Malay PH leaders to counter the blatant racism of UMNO and PAS is troubling to say the least."

"It is hard not to conclude that the PH leadership appears to lack the courage of their convictions (assuming they have any) to stand up to UMNO and PAS."

"What hope can there be for reform if even PH ministers are not convinced that the reform agenda is vital to our nation's future? ................"

Click 'Will racism kill Malaysia's reform agenda?' for the latest article from Dennis Ignatius.

Latest article from Dennis Ignatius

Just when we think we’ve heard it all, someone finds a way to take racism and bigotry to a whole new level.

In some of the most blatantly racist remarks we’ve heard in a long time, former law minister Nazri Aziz, speaking at a political rally in Semenyih late last month, asserted that the chief justice, the attorney-general and the finance minister were incapable of upholding the constitution or acting fairly simply because they were non-Malay, and because they had not taken their oath of office on the Koran as he put it.

He also went on to dismiss the holy books of other faiths as little more than “dictionaries” not worth swearing upon.

Offensive, disturbing & insulting

His message to the Malay masses in Semenyih and beyond was clear: non-Malays are not only unworthy of high office but every senior appointment that is given them directly threatens the Malay race and Islam. It must surely rank as among the most offensive, disturbing and insulting remarks ever made by an UMNO politician.

And such is the political environment in Malaysia today that even Tengku Razaleigh Hamzah, long considered one of the more moderate voices in UMNO, couldn’t resist pandering to the gallery by suggesting, also in Semenyih, that should anything happen to Dr Mahathir the DAP could seize power given their “control of key ministries.”

Hadi Awang, who often spews the same nonsense about non-Malays holding high office, did the same thing when he rushed to kiss Mahathir’s hand recently, hinting that he was acting out of noble motives – to defend the faith and protect the Malays from a possible DAP-inspired coup against Mahathir.

All but the most gullible, however, saw it for what it was:  a blatantly obvious attempt to curry favour with Mahathir in the hope of protecting himself from the MACC. Thus far, it doesn’t seem to have done him much good.

It is also amusing that one moment UMNO and PAS accuse Mahathir of being a DAP puppet and the next moment hail him as the only one who can keep the DAP in check. Political opportunists, will I suppose, say anything or kiss anyone’s hand if it serves their interests.

It staggers the imagination, as well, that men like Nazri and Tengku Razaleigh would think that despite controlling all the levers of state power, in spite of overwhelming majorities in parliament, the judiciary, the armed forces and the civil service, the Malays are still so weak and vulnerable. How does one even deal with such mind-boggling levels of insecurity and paranoia?

Staggering hypocrisy

It is ironic, too, that Nazri should accuse non-Malays of being untrustworthy because “they do not use the Koran” when it is people from his own party that are now facing prosecution for some of the most egregious crimes of corruption and abuse of power in our history. They posed as defenders of the faith while happily defrauding the faithful. They pretended to fight for the race while racing to enrich themselves. Now we even have religious leaders driving around in Porsches. The level of hypocrisy implicit in so much of the bigotry we hear is simply stunning.

It also shows how easily men like Nazri manipulate facts to suit their twisted arguments.  He disparaged non-Muslim appointees like the Attorney-General and the Chief Justice because they did not take their oath of office on the Koran but omitted to mention that in Malaysia it is not the practice to do so.

If he had cared to watch Prime Minister Mahathir being sworn in at Istana Negara last May, for instance, he would have discovered that Mahathir did not swear on the Koran. And neither did he (Nazri) when he took his oath of office. The fact is, both Muslims and non-Muslims take the same oath of office by reading from a prepared text but, of course, racists never allow little things like the truth to get in the way of a good racist spiel meant to incite and provoke.

UMNO and PAS have taken racial politics to a new low. National unity now lies mortally wounded; will Pakatan Harapan rise to the challenge and save it?

[Dennis Ignatius | Kuala Lumpur 5th March 2019]

To visit Dennis Ignatius website click : https://dennisignatius.com/

To read the article click 'Lim Kit Siang'

Weekly Update

Dow (26,026)

Dow is on its way to complete its wave D.

And if Dow can punch through the ceiling and can keep on going higher, than Dow is on its major wave 9. But then how to explain for the wave C that has only 3 waves?

FBMKLCI (1,700)

If Dow is heading for its wave D and E, then KLCI will follow closely by forming its wave iv and v.

But if Dow can punch through the ceiling and going for its major wave 9, then KLCI will follow suit by punching through the upper trend line and going for the wave (iii) of its major wave 5.

Inari Amertron Bhd (Rm 1.03)

Inari continues to form its wave B.

Insas Bhd (Rm 0.785)

Insas was unable to hold above its upper trend line that its has managed to punch through previously. But my reading for Insas remained the same except that the wave ii pullback will have a bigger magnitude. Hopefully it won't be the case of a 100% retracement.

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In early morning over Kuala Lumpur sky

This morning at around 6.30am I can see Venus, Saturn, Jupiter and the Moon as well as the Scorpius Constellation with its bright red Antares star. 

They are all above the South-eastern horizon. The Moon is about 66 degrees above the horizon, Jupiter at 59 degrees, Saturn at 38 degrees and Venus, that is much brighter than Saturn and Jupiter, is at 32 degrees above the horizon.

Shame on you - UKM Students

The event organised by the members of the UKM Student Council to welcome Najib outside the university campus reflects the total failure of our education system.

Are these university students the future leaders for Malaysia? If they are, then Malaysia is heading the Venezuela's way.

Aren't they aware of the 1MDB scandal that has made Malaysia the laughing stock of the world? They still believed that Najib is innocent? Or they simply believed in Najib's ideology that 'money is king'.

They are not the illiterates from remote villages. They are supposed to be the more brainy youth that are qualified to enter the University but they appeared to me that they are either unable to think and reason or they are willing to follow Najib in selling the nation for personal gain.

What is the use if I still have to pay toll charges (congestion charges) and are free to use the highway only from 11pm to 5am.