FBM KLCI Twin Peaks & 2011 Theme


That was a nasty correction for those who made  entries early January. That's probably after seeing the market gave a great 2011 bullish opening ceremony.  Well,  KLCI  has been creating new historic high again and again, the market need a breather once in a while.

KLCI corrected after the bearish Twin Peaks (double top) pattern As you have probably expected, the correction was likely to end in the current pivot zone and it did rebound (with micro double bottom) in the zone. That despite there would be a long Chinese New Year break. Thus, we can expect FBM KLCI to climb again and shall attempt again  to break the resistance at  1,576 pt.  If KLCI can break that resistance, it means we'll get a new historic high.   (Take it as a bearish warning if it fail this time again )

Below: FBM KLCI Daily Chart   fbm-klci Looking with my over simplified Elliot 5-wave perspective, we are still in wave 3. I did consider the recent correction (a to b) could be a wave 4 but I don't think it is yet.  It's good thing the index didn't fall below the zone, that could be a start of a lot longer downtrend. Let's just say bullish wave 3 is still on and haven't ended yet. These supported by other indicators (technical  and volume).  Thus I think KLCI will keep on rising and will break the current historic  high 1,576 pt. Yeah, history after history.  You want to be part of the history, don't you?

The theme for 2011 is screaming loud at you. Yes, it's the election thing. Stockbroker analysts already saying election as a big factor for 2011. (Well, so much about financial analysis). First we have Sawarak election (rumored in March 2011 - school holiday period) and then the General Election. 

Talking about election factor, it is not just about to raise the feel good factor, it also about  to raise lot of funds.  True, bullish market does raise the feel good about the economy and it is not that difficult to raise the index.

Based on 2008 General election result,  BN need a lot and a  lot more fund for the coming one, so what happened in 2008 will not happen again. Typically by pushing some goverment-linked counters (GLC)  and some sponsoring companies counters and sell them. Those companies need to give donation more than usual. I will not surprise if TNB want to increase the rate after the GE. Or an increased number of lottery lucky draw (wait a minute, it already increased). 

Recent correction gives a lot of opportunity to buy share for short-term play. I supposed stocks that had been actively traded before the correction will resume. Those election-theme counters already highlighted by stockbroker analysts. With Malaysia multi-billion worth of projects still not yet awarded,  you might want to look at the likely candidates among the construction stocks. When will be the general election is anybody's guess but don't you think so that those multi-billion worth of projects must be awarded and secured before the date of the general election announced?

Sarawak Government Politically Linked Companies

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Happy Belated Birthday to FBM KLCI


Oh, happy belated birthday to FBM KLCI. 6th July 2010  is the first anniversary of the implementation of FBM KLCI (formerly known as KLCI only).

If you wasn't there when  it started, maybe reading several of my previous articles on FBM KLCI can help you visualize:birthday-cake

1. FTSE Bursa Malaysia KLCI 30 Component Stocks That Made It
2. Last statement by Bursa Malaysia before FTSE BM launched
3. FBM KLCI cheat sheet
4. How to perform FBM KLCI magic
5. You and me and the index named KLCI
6. Help, my KLCI analysis is skewed.

Some changes of the FBM KLCI constituent stocks through out the one whole year:

PARKSON out from the list, replaced by NESTLE.
NESTLE out from the list,  replaced by MAS.
MAS out from the list, replaced by MAXIS.
ASTRO out from the list, replaced by HONG LEONG.

Here is the latest FBM KLCI component stocks:

RHB Capital      
Malaysia Airline System      
British American Tobacco (Malaysia)      
Axiata Group Bhd      
Maxis Bhd      
Genting      
Kuala Lumpur Kepong      
Malayan Banking      
MMC      
PPB Group      
Sime Darby Bhd      
Hong Leong Financial      
IOI      
Genting Malaysia BHD      
Telekom Malaysia      
Tenaga Nasional      
AMMB Holdings      
Berjaya Sports Toto      
CIMB Group Holdings      
Hong Leong Bank      
Tanjong      
UMW Holdings      
YTL Corp      
Petronas Gas      
YTL Power International      
Digi.com      
Petronas Dagangan Bhd      
Plus Expressways      
MISC      
Public Bank BHD    

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Banks Are Like A Group of Junkie


Banks think they are too fat to die. And they are like a group of junkie. Not sure? Watch this 50 second clip:

weapons-of-self-destructionA 50-seconds snippet from Robin Williams' stand up
comedy titled: Weapons of Self Destruction

 

 

 


junkie - someone who cannot stop taking illegal drugs

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Malaysia Latest PN17 Companies List and Talam is No More There


Talam is NOT PN17 status company anymore. I hope this will inspire other PN17 status companies such as Evermaster, Hop Hup, HSL, Transmile, Ramunia and WWCable to speed up its regularisation plan.  Full updated PN17 list below.

Talam Corp Bhd will be  free  from  its Practice Note 17  (PN17) status company effective  today. The company  told Bursa Malaysia Bhd that with the completion of its regularisation plan, Talam has regularised its financial condition and no longer triggers any of the criteria under Paragraph 2.1 of PN17 of the Main Market Listing Requirements. (BT 10th June 2010)

PN17 Companies`(list updated as at 21 June 2010)

  1. ARK RESOURCES BHD 1
  2. AKN TECHNOLOGY BERHAD 2
  3. AXIS INCORPORATED BERHAD 2
  4. EVERMASTER GROUP BERHAD 2
  5. FOUNTAIN VIEW DEVELOPMENT BERHAD 3
  6. HO HUP CONSTRUCTION BERHAD 2
  7. HOCK SIN LEONG GROUP BERHAD 3
  8. GULA PERAK BHD 3
  9. IBRACO BERHAD 3
  10. JPK HOLDINGS BERHAD 3
  11. KENMARK INDUSTRIAL CO. (M) BERHAD 3
  12. LCL CORPORATION BHD 3
  13. LIMAHSOON BERHAD 3
  14. LUSTER INDUSTRIES BHD 2
  15. MALAYSIAN MERCHANT MARINE BERHAD 3
  16. MECHMAR CORPORATION (MALAYSIA) BERHAD 2
  17. NAM FATT CORPORATION BERHAD 3
  18. NIKKO ELECTRONICS BHD 2
  19. OCI BERHAD 2
  20. OILCORP BERHAD 3
  21. RAMUNIA HOLDINGS BERHAD 3
  22. RHYTHM CONSOLIDATED BERHAD 2
  23. SATANG HOLDINGS BERHAD 2
  24. SELOGA HOLDINGS BERHAD 2
  25. STAMFORD COLLEGE BERHAD 2
  26. SYARIKAT KAYU WANGI BERHAD 2
  27. THE AYER MOLEK RUBBER COMPANY BERHAD 3
  28. TRACOMA HOLDINGS BERHAD 3
  29. TRANSMILE GROUP BERHAD 3
  30. TRIPLC BHD 2
  31. VTI VINTAGE BERHAD 3
  32. WONDERFUL WIRE & CABLE BHD 2
  33. WWE HOLDINGS BERHAD 2

1 Companies that triggered any of the criteria pursuant to Practice Note 17/2005 of the Listing Requirements of Bursa Malaysia Securities Berhad which came into effect on 3 January 2005

2 Companies that triggered any of the criteria pursuant to Amended Practice Note 17/2005 of the Listing Requirements of Bursa Malaysia Securities Berhad which came into effect on 5 May 2006.

3 Companies that triggered any of the criteria pursuant to Practice Note 17 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad which came into effect on 3 August 2009.

List from Bursa Malaysia Website

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Shocking Penang - Restaurant Re-Use Straw


A penny saved, a penny gained. Following that wisdom, a restaurant outlet in Penang use used straw to gain more penny.

 GEORGE TOWN: A restaurant here has been caught re-using drinking straws for its customers. Penang Municipal Council officers were horrified when they saw a worker washing the straws during a spot check on eateries in Pulau Tikus on Wednesday.

“He told us they were going to reuse it. We were shocked and gave him a stern warning,” its public health standing committee member Ong Ah Teong said.

They returned to the restaurant later to verify that their instructions had been followed, he said.

He warned that restaurant owners who committed such misdeeds could face closure.

They would be given warning “but if they still ignore it, they could face a fine of RM100,” he said.

“If they persist, we will lodge a report with the state Health Department to shut the place down,” he said when contacted yesterday.

Several people who have come across such situations said people should look out for signs of bite marks on the straws to make sure that they were not “recycled”.

It is learnt that some restaurant workers would even resort to cutting off the tips of straws and reuse them again

Communication manager Josey Wong, 35, said she found bite marks on her straw while having her meal at a popular food outlet.

“I asked a waiter about it and he admitted that the restaurant would recycle drinking straws.

“This is unhygienic as some people use the straw to pick their teeth,” she said.

Sales executive Adeline Goh, 27, also faced a similar situation when she was dining at a seafood restaurant in Butterworth.

“The tip of the drinking straw was flattened after being bitten by someone else.

“I confronted the waiter and he just replaced it with a new one. It was just so disgusting,” she said.

Ong said those who come across such cases should call the council hotline at 04-2637637.

“They can ask for the report reference number and follow it up with us later to see if any action had been taken,” he said.

Penang Restaurants and Tea-shops Association (Dim Sum) chairman Yee Yook Chee said it had never been a practice for restaurateurs to reuse drinking straws.

“As far as I’m concerned, our association members do not do that.

“However, some operators may not be aware that their workers are doing that.

“I advise them to educate their workers since the reputation of the restaurant is at stake,” she said.

from Thestar June 11 2010

Business must be very bad or simply because of GREED

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