INDEXFTSE:FBMKLCI : Weekly Update
Dow continued with its mini-wave 5 and has another record closing on Friday. How high will it go before the bubble burst ?
Marc Faber, 'Dr. Doom' has been expecting 'a major correction' for two year, but the market has instead moved up by more than 30%. One year ago, Roubini changed his view from bearish to bullish and he said on Thursday that 'the asset bubble won't pop until 2016'.
For me, I will be very very cautious at every possible major turning point and be prepared to run for my life. The next possible major turning point is at the end of mini-wave 5.
FBMKLCI (1749)
KLCI is at the tail end of wave c of 4.
Hopefully next week KLCI can form the wave iv of c.
KSL Holdings Bhd (Rm 4.26)
On Thursday KSL issued an amended announcement to clarify that the dividend per share after the 1 for 1 bonus issue shall remain at 5 sens. This is equivalent to a 10 sens dividend per share before ex-bonus.
If my reading is correct, the next wave up will be the sub-wave iii of wave (v) of major wave 3.
Berjaya Corporation Bhd (Rm 0.435)
BJCorp continued to set new low on Friday. Hopefully its bear run since 2010 can end with the completion of mini-wave 4 and 5.
Priceworth International Bhd (Rm 0.175)
Hopefully my reading is correct and PWorth can end its major wave 2 with the completion of mini wave 4 and 5.
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