Asian Markets

Shanghai market, wave e of major (2)

Hang Seng index of Hong Kong may have completed its mega wave B, if there is no extension to the major wave 3.

Is Hang Seng forming a 'head and shoulders reversal pattern as shown above ?

My reading for Singapore STI is similar to that of Hang Seng. Major wave 3 has completed its 5 waves. The only question left is whether its has 5 or 9 waves.


Similar to Hang Seng, it is also has the potential of forming a 'head and shoulders' reversal pattern. Wait for confirmation.

Dow - sub-wave 1 of wave V completed

Dow has completed its sub-wave 1 of wave v. Currently it is forming its sub-wave 2. If my interpretation of the chart is correct, sub-wave 3 will start sometime next week as the technical indicator William%R(14) need to move side way at upper level.

There may be other possibility to the chart but I prefer to stick to me current interpretation until new data shows that the above wave count is wrong.

Malton - Double Bottom Formation

Malton after breaking its neckline in Octoble, it has been consolidating for close to two months with its price dropping back to rest on the neckline. A price reversal with high volume from this level will likely to see its price reaching a minimum target of Rm 1.14

Money makes the world go round

Courtesy of guardian.co.uk

The International Monetary Fund has urged the EU to pump more resources into its bailout programme, and also to buy up more government debt. Otherwise, the crisis could escalate – threatening the stability of the euro.

Courtesy of guardian.co.uk

America may need a 3rd dose of Quantitative Easing (QE3) to avoid its economy slumping back into recession. Bernanke said it was "certainly possible" that the Fed would open the QE floodgates again, if the US recovery does not pick up pace.

With these money printing proposals, commodity will surge further, a repeat of 2008's commodity peak.

UEM Land to Buy Inch Kenneth's Land in Bangi

It must be very cold in London. Bobo is interested in Democracy.

UEM Land announced today that it has offered to buy 463.51 acres of Inch Kenneth's Land in Bangi (2 parcels), Selangor for a cash consideration of Rm 268.50 millions (Rm 13.30 per sq ft.). For the adjacent third parcel of land of 136.49 acres, UEM land is to be given the first right of refusal to participate in the development or to purchase the land.

The Rm 268.50 millions cash consideration divided by 420 millions Inch Kenneth shares equal to 64 sens per share. If the third parcel can be disposed of at the same rate of Rm 13.30 per sq. ft for cash, the cash per share will be about 83 sens.

Inch Kenneth has another higher value piece of land in Kajang, the area is about 350 acres ready for development. This piece of land can easily give Inch Kenneth another 50 sens per share.



The wave count for Inch Kenneth is as shown above, the question here is how high this current wave 5 can go.

Dow - When will the uptrend end ?

If wave v of the major wave (3) has started and if the duration of wave v is about the same as wave i, then wave v will end at about one month from now on first week of January 2011. Target price for Dow is about 12,000 to 12,200.


My projected target for the bottom of mega wave 6 is around 5,000 for Dow.

This is a more optimistic hypothesis, assuming the super cycle wave (III) that started in 1932 has 9 waves and this current bear cycle since October 2007 is mega wave 6 that may end by 2012.

A more pessimistic hypothesis is to assume the super cycle wave (III) has only 5 waves and it has ended in October 2007 and Dow is currently forming its super cycle wave (IV) that can easily last for 10 to 12 years with wave a from 2007 to 2011/2012. Wave b and c may stretch until 2020

Refer to the "Median and average sales prices of new homes sold in US" published by U.S. Census Bureau. Its chart is as shown below.



The sales prices reached its peak in March 2007, 7 months ahead of Dow's peak in October 2007. Its bottom in March 2009 before the rebound is same as that of Dow, also March 2009. The interesting data is its October 2010 figure, which has dropped lower than its March 2009 figure. Some analyst expect the sales prices to bottom by early 2012, will the Dow follow suit as in 2007 ?

The Chef

Roast Chicken

Mango with Shrimp and Scallops

These two dishes look good, look extremely good, they were prepared by my son, I was not aware that he can cook until I received his email the other day.

This is the chef, sorry, don't have his recent photo. He is in London now, 'study lorr'

This is the chef many many years ago, a serious driver, more interested in F1 than anything else.

This is the chef, once upon a time, long long ago, 'Bo Putt Bo Dye' (know nothing)

Really can't imagine, this boy can cook.


Something light

As a senior citizen was driving down the freeway, his cell phone rang. Answering, he heard his wife's voice urgently warning him, "Herman, I just heard on the news that there's a car going the wrong way on Interstate 77. Please be careful!" "Hell," said Herman,
"It's not just one car.. It's hundreds of them!"