Thank You

 

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Puzzled

Recently the government has announced that it will introduce a Goods and Services tax starting in 2015, and also possible increases to electricity tariffs, public transportation fares, highway tolls, property assessment rates and others in 2014. Since the government slashed petrol subsidies in September, prices for many essential goods and services have increased. 

In response to a planned rally at Dataran Merdeka on 31st December to protest against the above price hikes, the police today issued a stern warning that individuals or groups would be charged for holding the illegal assembly to overthrow the Government. 

Police's logic :

Protest against price hikes = Overthrow the Government

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Dow - It is mini-wave 3 run-up

By now it is clear that Dow is having its mini-wave 3 of sub-wave iii run-up. I need not worry about the possible wedge formation that I have mentioned previously. From now until 3rd quarter of 2014, I just need to watch Dow unfolding its sub-wave iii, iv and v, if wave (ix) has only 5 sub-waves. The target is 20,000 The up trend can last even longer and can go well beyond 20,000 if wave (ix) has 9 sub-waves.

TA Enterprise Bhd (Rm0.775)

My wave count for TA.

 

If my wave count is correct, its next surge is the sub-wave iii of wave (iii) of major wave 3 of mega wave (3). It is the iii of (iii) of 3 of (3).


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Merry Christmas

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Latitude Tree, FACB Ind, Land & General and PM Corp.

Latitide Tree Holdings Bhd (Rm2.35)


I mentioned 2 stocks on 28th November, Latitude Tree and FACB Ind. At that time both the stocks have just announced their respective quarterly (July to Sept) earning.

For Latitude Tree, earning per share (EPS) is 15.02 sen, net assets per share is Rm 2.57. Since then Latitude Tree has continued with its major wave 3 and moved from Rm 1.48 to Rm 2.35, up 58%.

It is currently forming the wave ix of its major wave 3.

FACB Ind Incorporated (Rm 1.25)

FACB on the other hand has hardly moved at all. In fact it dropped 3 sen from Rm 1.28 to Rm 1.25.

FACB reported EPS of 76.64 sen and net assets per share of Rm 2.61. The high earning was due to its disposal of properties. Without this exceptional item, its profit due to its normal operation was about 2.3 sen a share. After its properties sale, its net cash per share is Rm 1.77

FACB is currently forming its  a-b-c wave 4. That explained why its stock price has been moving side-way to lower.

Land & General Bhd (43.5 sen)

I have modified my wave count as shown below. Its latest quarterly EPS is 3.86 sens and net assets per share is 75 sens. Its cash per share is 42 sens.

Land & General is forming its sub-wave ii at this moment. Its next wave up is the sub-wave iii of major wave 3 of mega wave (3). It is the iii of 3 of (3).

Pan Malaysia Corporation Bhd (22.5 sen)

Its last quarter earning is 3.22 sen a share. Net assets is 48 sen, out of which 20 sen is cash.
The current pull-back can be its wave 6 correction. So watch out for the wave 7, it can be very dynamic with high volume. Just wonder whether its price will go below 20 sen.

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Dow - Next week can be crucial.

Dow closed the week with another new record at 16,221. I am looking forwards to Dow moving above 16,400 level next week, to confirm the mini-wave 3 run-up and hopefully Dow can last another 9 to 10 months..

And if this is going to be the last surge before the bubble burst, an euphoric parabolic run-up may take place to bring Dow to above 20,000 level.

However, if Dow failed to break its upper resistance line to go above 16,400 next week, Dow may complete its wave (ix) with a wedge formation as shown below. It's quite likely that Dow may go to 14,000 level to form its major wave (6).

My focus next week will be on whether Dow can break its upper resistance line.

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Dow Jumped on Federal Reserve Tapering Announcement

Dow jumped 292 points (+1.84%) on Wednesday to set another new record at 16,168 level after Federal Reserve announced to reduce its US$85 billion monthly bond purchase by US$10 billion starting January 2014.

With this surge, last Thursday low of 15,739 is very likely to be the mini-wave 2 of the sub-wave iii.

Dow will set more new highs on its way to complete its mini-wave 3 of sub-wave iii. 3 of iii, it has to be dynamic. With this wave count, Dow is likely to complete its wave (ix) during third quarter of 2014.

Another possible wave count is rather pessimistic, sub-wave iii and iv of wave (ix) were completed as shown below, a wedge formation. Wave (ix) can be completed within the next two weeks.

I personally feel that this option is unlikely. It is more likely that Dow will break its upper resistance line to complete its mini-wave 3 of sub-wave iii.


Land & General Bhd (46 sen)


L&G closed strongly today at 46 sens. Is this the starting of sub-wave v of wave (iii) ? With a quarterly earning of 3.86 sen per share and having cash at 42 sen per share, L&G at 46 sen is dirt cheap.

 

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