Sideline

KLCI ends down 0.3% at 1339.18 in thin volume, recovering from midday slump to 1331.21. Sharp falls in Chinese stock markets following a hike in stamp duty to cool speculative activity cited for market's weakness. Market breadth remained deeply negative with decliners thrashing gainers 729 to 190 but KLCI expected to hold 1330-1350 trading range. Investors were already cautious ahead of 1Q GDP data. The China factor just accelerated selling pressure as some investors expected the duty hike move to trigger a much larger correction. However, mild bargain hunting by local funds and a flight to more resilient plantation stocks helped to buffer falls, suggesting further declines may be muted.

TOMYAM SHOPPING LIST

TODAY AYAM TALK

• Malaysia GDP Up 5.3% In 1Q, Beating Expectations
• SAAG Surges; Rig Contract Speculation
• E&O Ppty; UBS Keeps As Buy, Tgt MYR4.45
• UBS Keeps Buy On PLUS, Target MYR3.40
• Aseam Starts Mah Sing With Buy, Target MYR5.90
• Citi Keeps Buy On SapuraCrest; Tgt MYR2.15
• Morgan Rates MAS Overweight, Targets MYR7.50
  

Nothing New

KLCI ends down 0.2% at 1343 on profit-taking in thin volume, off intraday low of 1339.95 in last hour trade on mild bargain hunting; investors cautious ahead of 1Q GDP data due out after hours Wednesday. Pockets of positive corporate development's including MAS' surprisingly strong first quarter results helped to buffer the decline but persistent profit-taking dragged the KLCI into negative territory. Market breadth negative with decliners outpacing gainers 501 to 306. KLCI tipped in 1340-1350 range tomorrow.

TOMYAM BORING SHOPPING LIST

TODAY AYAM TALK:

• Ranhill Down 5.5%; Thin Details On Pipeline Deal
• MBF Plunges 48.1%; SC Rejects Revamp Plan
• Nasioncom At Record Low On Misleading Info Probe
• Proton Likely To Post MYR19.1M Loss For 4Q
• MIMB Starts Alam Maritim With Buy, Target MYR5.12
• Malaysia 2nd Fin Reiterates Sees 2007 GDP Growth Of 6%
• UBS Starts Malaysian Plant At Buy,MYR3.50 Target
  

SAHAM UPDATE LAH

KLCI ends +0.5% at 1345.99 on mild bargain-hunting but in thin volume of 660.5 million shares, retreating from an intraday high of 1348.30 as investors locked-in profits. Market breadth turned positive in last hour of trade trade with advancers outpacing decliners 448 to 395. Investors took their cue from surging Chinese stocks. Both local and foreign funds accumulated blue chips and some index-linked issues but thin volume traded reflects the cautious undertone. Expects KLCI to trade within 1339-1350 band Tuesday with investors taking profit on any rally ahead of Malaysia's 1Q GDP data due out after hours Wednesday.

TOMYAM SHOPPING LIST

TODAY AYAM TALK

• MAS 1Q Net MYR132.7M; May Buy 110 Aircraft
• Asian Shares End Up; Nikkei Rebounds, China Stks At New High
• OSK Keeps Buy On TgOff; Target At MYR4.20
• TA Keeps KNM As Buy, Target At MYR16.20
• Bearish Undertone May Drag KLCI To 1300 -Aseambankers
• OSK Starts Green Packet As Buy, MYR6 Target
• Local analyst says KEuro share price unlikely to rise substantially higher as currently trading at rich 13.5X forward PER vs average 10X for small- to medium-cap construction stocks - Local analyst said.
• Ranhill suspended at MYR1.81, likely to surpass all-time high of MYR1.94, test MYR2 (psychological support) on requotation tomorrow, say dealers; this after winning US$7 billion contract from unlisted Trans-Peninsula Petroleum to build oil pipeline across northern Malaysia to help ease congestion along busy Malacca Strait.
• RCE UP; Aseambankers Targets MYR1, Trading Buy
• Lafarge Up On 20 Sen/Shr Capital Repayment
• CS Keeps Outperform On Telekom M'sia,MYR12.20 Tgt
  

MARKET UPDATE

KLCI ends almost flat at 1339.08, shedding only 1.9 points as bargain hunting helped benchmark recover from intraday low of 1319.75. Volume remained thin with decliners outpacing gainers 428 to 389. The sharp fall in U.S. stocks overnight and the subsequent decline in regional bourses spurred some heavy selling in early trade. Both local and foreign funds snapped-up some heavyweights and index-linked issues on price weakness. Expects jittery trade to persist next week with index tipped in 1320-1350 range.

ENCORP
Buy on dip. Next Potential Target 0.90. Cut loss 0.70.

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
The projected upper bound is: 0.88.
The projected lower bound is: 0.68.

TOMYAM SHOPPING LIST

MALAYSIA & US Economic Calendar - Week Ahead

MALAYSIA
Monday, May 28, 2007

• Bank Negara Malaysia - Monetary Policy Statement
• Apr Money Supply 12.8%YY
  

Wednesday, May 30, 2007

• Q1 GDP +4.7%YY +5.7%YY

UNITED STATES
Tuesday, May 29, 2007

• May Conference Board Consumer Confidence Index
• May Dallas Fed Mfg Production Index 24.3
• Apr Chicago Fed Midwest Mfg Index +0.8%
• May 27 ABC/Washington Post Consumer Confidence Index -9
  

Wednesday, May 30, 2007

• May 25 MBA Refinancing Index +1.9%
• May 26 ICSC-UBS Chain Store Sales +1.5%
• May ADP/Macroeconomic Advisors Employment Estimate +88K
• May 26 Redbook Retail Sales Index +2.2%
• May FOMC minutes
• US Secy of State Rice attends G8 Foreign Ministers meeting in Germany
  

Thursday, May 31, 2007

• May 26 Jobless Claims +4K +15K
• 1Q GDP, prelim +0.9% +1.3%
• 1Q Corp Profits, prelim +0.8%
• May Chicago PMI 54.0 52.9
• Apr Construction Spending Unch +0.2%
• Apr Conference Board Help-Wanted Index 30
• May 19 DJ-BTMU Business Barometer -0.2%
• May 25 US Energy Dept Natural Gas Stocks (in bil CB) +104
• May 25 US Energy Dept Crude Oil Stocks (in barrels) +2.0M
• May 25 US Energy Dept Distillate Stocks (in barrels) +500,000
• May 25 US Energy Dept Gasoline Stocks +1.5M
• May Kansas City Fed Mfg Index 26
• Money Supply
• Secy of State Rice attends roundtable on "Networking for Peace and Security in the Middle East" in Vienna
  

Friday, June 1, 2007

• Apr Personal Income +0.3% +0.7%
• Apr Personal Spending +0.4% +0.3%
• May Non-farm Payrolls +145K +88K
• May Unemployment Rate 4.5% 4.5%
• Apr Pending Home Sales -4.9%
• May Reuters/Univ Mich Index, final 88.0 88.7
• May ISM Mfg Index 54.0 54.7
• May ECRI Inflation Gauge 116.6
• Ex-Fed Chmn Greenspan speaks at Book Expo America in New York

Whaat lar!

KLCI ends down 0.9% at 1354.98 with gainers in thin volume; advancers trailed decliners 262 to 623. Some positive developments helped lift a handful of lower liners but generally, investors opted to lock-in profits after yesterday's surge. Expects KLCI to stay in 1350-1360 range tomorrow with mild bargain hunting in blue chips lending some support.

TOMYAM SHOPPING LIST

Prediction abrakedabraa

KLCI ends +1.5% at 1367.51 in thin volume, just shy of record high 1368.87 as bargain hunting by foreign and local funds picked-up pace; market breadth turned positive late morning with advancers leading decliners 613 to 240. Both foreign and local funds bought blue chips and heavyweights. The rally in China's stocks (benchmark Shanghai Index at new record) had a positive impact on regional markets, noting ringgit's continued strength an added incentive for foreign investors. KLCI tipped to test and breach record high of 1368.87 tomorrow, may rise to around 1370-1375. However the situation stays fragile due to low volume.

KLCI
For KENO
(This is only a raw prediction based on `Fibonacci Time Projection' which is not 100% accurate). The potential trend change for KLCI is around end-May or early-June. (see chart, click on image below to enlarge).
Note: The technique calculates a trend change date. It will not indicate itself whether this date will be a high or low, only that a change in trend is probable.

TOMYAM SHOPPING LIST

More Blogs Added

In case some of u didn't notice. I have added tons of very informative, rebel, hubba hubda crazy, boink-boink BLOGs under the "AT LARGE SECTION". Be free to explore it. Thanx.


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Update For Today

KLCI ends down 0.7% at 1347.17 in thin volume, off intraday low of 1344.08; market breadth deeply negative throughout the day with decliners thumping advancers 676 to 235. Some (not me because i don't really know why our market turned south today) said China's tightening efforts caused some jitters in the market. This was compounded by Bumi-Commerce's (BCHB) decision to probe further into (recently acquired) Southern Bank's accounts. Transparency issues are now weighing on investor sentiment. KLCI tipped to consolidate in 1340-1350 (psychological resistance) tomorrow but with downside bias as market continues to consolidate from recent high of 1368.87.

TOMYAM SHOPPING LIST

MARKET UPDATE

KLCI ends down 0.2% at 1356.84 in moderate volume, off intraday low of 1351.03; market breadth negative with decliners edging advancers 483 to 372 as investors unwound positions ahead of weekend. Aside from the privatization theme and higher crude palm oil price boost to plantations, there were no catalysts to drive the market. Expects KLCI to consolidate in 1340-1370 range next week. Actually nothing much to say as the market volume stay low. Stay sideline for a while.

TOMYAM SHOPPING LIST

e-Books Worm

Dear friends,

I've uploaded the

Encyclopedia of Chart Patterns

in the Chap Ayam e-Book Blog

Rgds,
TS

MARKET UPDATE

TOMYAM SHOPPING LIST

MARKET UPDATE

KLCI ends +0.6% at 1359.59 in moderate volume, off intraday high 1364.05; market breadth turns negative in afternoon trade with decliners outpacing gainers 607 to 306 as profit taking picked up pace. Gains on Wall Street Friday, positive domestic newsflow with some solid quarterly earnings and speculation of more privatization deals were the main catalysts in today's gains. Some bargain hunting in blue chips kept the market buoyant. KLCI expected to trade at 1355-1365 range tomorrow.

TOMYAM SHOPPING LIST

TODAY AYAM TALK:

• Malaysia Wants Singapore To Invest In Indus Park Proj - Min
• Tenco; Restructuring Plans Given Nod
• IJM; AmResearch Ups Target To MYR10
• OSK Keeps Faber As Trading Buy On Merger Talk Target MYR2.00
• Hwang-DBS Ups Maybank To Buy, Tgt MYR14.50
• Aseambankers Ups Transmile To Hold; Tgt MYR9.60
• AIGB Up On Privatization Report;MYR3 Cap
• CS Ups Evergreen Fibreboard Target to MYR2.65
• Citi Starts Sime With Buy, MYR15.42 Target
• UBS Starts MRCB At Buy, Target Of MYR3.80
• UBS Starts E&O Property Development As Buy; MYR4.45 Target
• UBS Starts Sunway City As Buy; MYR6.90 Target
• S&P Cuts Megan Media To Strong Sell,26 Sen Target
  

MARKET UPDATE

TOMYAM SHOPPING LIST

MARKET UPDATE

KLCI ends +0.4% at 1355.62 in thin volume despite persistent profit-taking; bargain hunting in select blue chips and heavyweights after 2-day losing streak helped lift market. However, market breadth was negative with decliners outpacing gainers 440 to 382. Wall Street's gains overnight and the ringgit's strength (USD/MYR slid to 9-year low of 3.40) helped to stir fresh buying interest especially in banking and plantation stocks. KLCI likely to stay in 1350-1360 range tomorrow as investors lock-in profits ahead of the weekend.

And Dow Jones also look likes in a correction mode (Gosh!!)

TOMYAM SHOPPING LIST

TODAY AYAM TALK

• LBS Susp'd; China Waste Water JV Plan - LBS suspended related to MoU with Shanghai Jiao Tong University to establish JV partnership to carry out waste water treatment and reduction of ammonia content in water. LBS says MoU will enable company "to explore a smart partnership for venturing into the biotechnology business and enhance its position and presence in China." MoU also in line with group's strategy to expand revenue base. However, no impact expected on NTA or EPS in FY07 until formal agreement executed. Stock resumes trade tomorrow.
• Hubline Up As Shipping Fund Buys 7.1% Stake
• Equine Up; Hedge Fund Buys 5.2% Stake
• CIMB Starts Kencana At Outperform;MYR1.72 Target
• Aseambankers Starts Ramunia At Strong Buy; Target MYR1.80
• ECMLibra Rates Lafarge A Hold, MYR1.50 Target
• DiGi Tie-up Speculation Buoys Time dotCom
• Kencana Up On MYR132M O&G Platform Contract
• Muhibbah get Lands MYR41.4M Job
• S&P Ups Bolton To Buy; Ups Target To MYR1.14

LBS & SAPCRES - WA

KLCI ends down 0.3% at 1350.84 in thin volume on persistent profit-taking as recent price movements suggest market entering correction phase. Market breadth negative with decliners outpacing gainers 583 to 288. Concerns over Transmile's accounting practices provided the ideal excuse for profit-taking in blue chips (after market peaked at all time high of 1368.87 yesterday). Some caution also ahead of Fed's interest rate policy meet later today. KLCI tipped in 1345-1360 range tomorrow with possibility of mild bargain hunting in blue chips, construction, consumer and plantation stocks.


LBS
Buy on dips. Support 0.95 (Watch the support level closely).

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
The projected upper bound is: 1.11.
The projected lower bound is: 0.90.


SAPCRES-WA
Set to test resistance level 1.15

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
The projected upper bound is: 1.25.
The projected lower bound is: 0.88.

TOMYAM SHOPPING LIST

TODAY AYAM TALK

• Buy MRCB On Dips For Rebound To MYR2.50 - TA SEC
• Wellington 5.5% Stake Buy Doesn't Impact AirAsia
• MMC, AmResearch Keeps On Buy, Tgt MYR10
• Malaysia Rate Cuts Likely In 2H07 - HSBC
• OSK Says KLCI Has More Upside; Targets 1500
• Nexnews To Be Privatized At MYR1.27/Share
• Mobif May Retreat; New Share Listing Thu
• ECMLibra Cuts Transmile To Hold; Keeps MYR15 Tgt
• Ornasteel; OSK Keeps As Buy, Tgt MYR2.06
• UAC On Boustead's MYR4.85 VGO
• TIME dotCom Up, Renewed DiGi Speculation

MARKET UPDATE

KLCI ends down 0.8% at 1354.67 in modest volume, off fresh all-time high of 1368.87, on profit-taking. Sell trigger attributed to concerns over accuracy of air freight concern Transmile's FY06 accounts. The decline in regional markets also hurt sentiment, despite some solid quarterly earnings reports (locally). KLCI expected to trade in 1350-1360 range tomorrow. Market spread negative; losers outpaced gainers 719 to 205; Transmile sank 23.1% to MYR10 with JP Morgan cutting rating to Underperform from Outperform and target to MYR6.25 from MYR13.

TOMYAM SHOPPING LIST

TODAY AYAM TALK:

• Boustead To Keep UAC's Listing Status
• Boustead Makes Offer For UAC At MYR4.85 Per Share
• CPO Down On Profit-Taking
• Govt Won't Allow Offshore MYR Trade - Bernama reports Awang Adek Husin, in response to questions from Parliament's upper house, says government won't allow offshore MYR trade as it's speculative; also likened those who do such trading to "speculators" and "position takers."
• Deutsche Keeps Telekom On Buy Rating, Tgt MYR12
• Temasek Confirms Sold 3.3% Of Telekom Malaysia
• Central Bank Supporting Dlr At MYR3.4120
• DiGi.Com: Problems Meeting 30% Bumiputra Hldr Rule
• DiGi Committed To Making Capital Repayment -CFO
• Prime Minister Oks Pay Rise For Civil Servants
• JPM Cuts Transmile To Underperform;MYR6.25 Target
  

AJSTEEL & MARKET UPDATE

KLCI ends +0.1% at 1365.28 in moderate volume, just off new all-time high of 1367.40, supported by gains on Wall Street Friday, firmer regional markets. Ringgit's strength vs. US$ (new 9 year high of 3.4140) and flurry of M&A activity lifted sentiment. These factors likely to help sustain momentum this week, tipping KLCI in 1350-1400 range for rest of week. YTL Corp +6% at MYR8 after bagging US$300 million contract to clean up Malaysian rivers. In surprise move, major shareholders of publisher Nexnews announced privatization plan while Boustead Holdings announced plan to privatize 38.5% owned building materials concern UAC. The market is a buzz with this M&A fervor and this is likely to keep interest buoyant. Also, Tenaga's decision to remove 25% foreign shareholding cap likely to drive shares higher tomorrow. However the critical support level is 1,350.

AJSTEEL
Well supported above RM3.00 - Next target:RM4.00. Watch closely RM3.00 support level if anything goes wrong.

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
The projected upper bound is: 3.28.
The projected lower bound is: 2.95.

TOMYAM SHOPPING LIST
(click on image to enlarge)

Market Update

TOMYAM MONITORING LIST

(Click on image to enlarge)

Ali Baba & 40 Thefts

Dear Dudes,

I had added link to a very informative blog & with beautiful Japan gal inside (I think la!) under my "Active Trading Blog" list. Feel free to visit at:

• Ali Baba & 40 Thefts
  

Happy Chickin!!

KLCI, PTARAS, KLCCP

Malaysian shares rose 1.6% to a new record closing high Thursday, buoyed by Wall Street's overnight close, strong buying in telecommunications stocks and pent-up demand for shares in a holiday shortened week. The weighted Composite Index of 100 blue chip stocks gained 20.54 points to close at 1342.79 points, beating its previous all-time high of 1334.44 points achieved on April 17. Interest was quite firm across almost all sectors as investors took their cue from firmer U.S stocks and gains in regional bourses.

KLCI
The Index is now heading to the unknown territory. The sure thing is the immediate support level - 1310.

Overall, the bias is: Upwards.
Short term: Moving.
The projected upper bound is: 1,393.56.
The projected lower bound is: 1,295.38.




PTARAS
Set to test resistance 1.80.

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
The projected upper bound is: 1.63.
The projected lower bound is: 1.37.


KLCCP
Futher upside expected.

Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
The projected upper bound is: 4.20.
The projected lower bound is: 3.70.

TOMYAM SHOPPING LIST

Market Update

TOMYAM SHOPPING LIST