A little bit of everything

Wednesday, October 20, 2010

Advance Synergy Berhad (ASB)

Courtesy of jutiagroup.com

After the March 2009 bottom, ASB has formed a 'Cup with Handle' reversal pattern. It put on 2 sens today to close at 20.5 sens with a volume of 52 millions shares traded. It has a very strong OBV, signaling strong accumulation.

In the last 34 months it has been forming a 'Cup-with-Handle' bullish pattern and finally it has its price breakout today with very high volume of 52 millions shares. It is currently on sub-wave iii of wave 3.

Its half year result ending 30 June 2010, earning per share is 0.83 sen and net assets per share is 97.5 sens

Courtesy of saadfudda.blogspot.com

This is a building you must visit when you go to Kansas City, USA. It is a public library.

Tuesday, October 19, 2010

Dow - I think sub-wave iii of wave 3 has ended.

Dow dropped 135 points to 11,008 after half hour of trading. It appeared to me that sub-wave iii has ended. Sub-wave iv is expected to be completed within three to four day. Theoretically the low of sub-wave iv should not drop below the top of sub-wave i, that is 10,860.

Monday, October 18, 2010

Sunday Roast

Courtesy of Wikipedia

My son talked about his first Sunday Roast experience in his email. To be frank, I don't know what is that, have to check it out from the internet.

*******************************

I had Sunday Roast for the first time today (GASP I know). Wanda was absolutely shocked to find out I hadn't tried it before. We walked past a pub just now and decided to stop by and have some. IT WAS LIFE CHANGING. The meat... the gravy… the Yorkshire pudding... the vegetables at the side (broccoli, carrots and ESPECIALLY THE PARSNIPS)... Everything was just so good (either that or it was because I was starving). By the way this is like, the first time I've ever (knowingly, at least) tried parsnips and they're really good. Good texture and nice taste.

******************************

Must order a Sunday Roast the next time I visit London.

Sunday, October 17, 2010

Dutaland Bhd

Dow remains in its wave 3 formation. Where will wave 3 end remains as anybody's guess.

Dutaland Bhd

Formerly known as Mycome, was the darling of stock speculators in 1993/1994. Its stock price went to a high of Rm9.60 in 1994. With the restructuring exercise in the subsequent years involving capital reduction from Rm 1.00 par value to Rm 0.10 and the capital consolidation of 10 shares of Rm 0.10 shares back to 1 share of Rm 1.00, plus right issues, the Rm 9.60 high in 1994 was adjusted upwards to Rm 55.00. In December 2007, the company name was changed to Dutaland Bhd. Since 2009, OBV accumulated amount to 200 million shares.

Its annual earning for year ending June 2010 was only 1.35 sens. Net assets per share was Rm 1.30. Last week it announced an assets revaluation surplus of 15 sens. With that surplus, its revised net assets per share is Rm 1.45.

After hitting a bottom of 29 sens in March 2009, it moved to a high of 72 sens by June 2009. Since then it has been moving downwards within a down trend channel to reach 42 sens in June 2010. Since then it has formed a double bottoms pattern. The neckline was broken with high volume and with OBV breakout. Chances is high that this is the beginning of its wave (III) that has to go higher than 72 sens, the top of wave (I).

Has to watch out at 55 sens level. Failure to break away from the 55 sens level can send the stock price all the way down to below 40 sens for a A-B-C-D-E wave (II) formation.

Friday, October 15, 2010

Karambunai, Malton and YTLE

Karambunai

Karambunai after resting for three weeks, it put on 6 sens (50%) to close at 18 sens today. In its previous surge, it broke its minor double bottoms neckline at about 12 sens. Its major double bottom neckline is at 26 sens. If it can break the 26 sens level, the minimum target is 46 sens.

If Karambunai can continue to run on next Monday, then it is at sub-wave (iii) of wave iii of 3 of major wave (III) as shown above.

However, if it starts to pull back next Monday, then it is likely that today's surge is the wave b of wave ii, wave iii has not started yet as shown below.

*******************

Malton

Malton gained 3 sens to close above its 70-sen neckline for the first time at 73 sens. It may take a short breather at this level before it continues with its journey to its minimum target of about 113 sens.

Malton is currently forming its wave 3 of its major wave (III).

*****************************

YTLE

As shown above YTLE is forming its sub-wave iii of wave 3 of its major wave (V). It gained 19 sens (15%) to closed at Rm1.48 at the end of today's trading session.

An old song that most people have forgotten

Thursday, October 14, 2010

Dow - Head and Shoulders revisit.

Assuming Dow is forming its mega wave 6 as shown above. Being a corrective wave its has three waves, wave A-B-C.

It is currently trying to complete its wave B, that will be the right shoulder for the 'Head and Shoulders' formation. The last juorney may be short but sometimes it can be very juicy. It is also possible that wave B can drag longer and higher to form a 'double tops' instead of 'head and shoulders'. Big fish may need to exit progressively at a much earlier time, but as a small fish, I still can affort to wait for a while.

After the completion of sub-wave iii, Dow will have its sub-wave vi pullback, to be followed by the last sub-wave v advance to complete the wave (3) as well as wave B as shown then I will have to run for my life unless it is not wave B.

Besides the mega wave 6 option, it is also possible that Dow is currently in its mega wave (IV) as shown below.

Whether it is major wave 6 or mega wave (IV), Dow is likely to head for 5,000 or below in its next plunge, if my chart interpretation is correct. I can be wrong.

****************************************

'Fiddler on the Roof' is a nice movie. I watched it in 1972 when I was studying Engineering in Singapore. This song 'Tradition' is one of my favorites.