Stock market. Firestone

Is the hit from Kygo. For those of you who believe that the 400 point upward swing by the Dow Jones, means that the equity markets have stabilised, please think again.
In Malaysia, the situation is actually more chronic, with RM10 billion net outflow in the first ten months of the year, which comes up to RM1 billion a month or RM30 million a day for every single day of the month.
There is a Firestone about to hit us.
Read MarketWatch from the godfather himself :

‘Godfather’ of chart analysis says ‘damage done to the stock market’ is much, much worse’ than anyone is talking about

Acampora tells MarketWatch that the action under way in the stock market reminds him of the 1987 crash

Ralph Acampora is bearish on stocks

Prominent market technician Ralph Acampora says the stock market is in bad shape and it’s worse than many on Wall Street investors appreciate.

A pioneer in the field of chart-based trading, Acampora said the technical damage that has resulted in the Dow Jones Industrial AverageDJIA+1.77% and the S&P 500 index SPX+1.57% erasing all of their gains for 2018, and the Nasdaq Composite Index COMP+1.58%falling into correction territory—usually characterized as a decline of at least 10% from a recent peak—will take months to repair.

“From a technical perspective, the damage that has been done technically to the stock market is much, much worse than people are talking about,” he told MarketWatch in a phone interview on Tuesday.

Acampora cited a break down of so-called FANG stocks—a quartet of technology and internet-related companies that include Facebook Inc. FB+2.91% Amazon.com Inc.AMZN-0.55% Netflix Inc.NFLX+0.34% and Google-parent Alphabet Inc. GOOGL+1.43% —as the clearest sign that the worm has turned on the bull market.

On Monday, those names, which have been significant catalysts for market sentiment and price moves, shed a combined $120 billion in market value. On top of that, Amazon became the most recent of that group to close in bear-market territory, defined as drop of at least 20% from a recent peak.

“I’ve been a bull for a long, long time and like everyone, I was waiting for a correction but this is something different,” said Acampora, who many chartists refer to as the “godfather” of technical analysis.

Ringgit Malaysia. Venom

Is a hit now in the UK for rapper Eminem. On September 30th, I wrote the Ringgit would trade at RM4.18 against the US Dollar the following week.
I won't spit any venom, because the Ringgit did not fall to RM4.18 against the dollar anytime between October 1 and October 7th.
22 days latter though, it's a different story. The Ringgit now is at RM4.18 to the dollar, and the sun doesn't seem like it will rise anytime soon underneath the redeemer and the sky.
But, you can be assured that at this level there is more to come and plenty of VENOM!!!

MyEG + Datasonic : IRIS

Is the smash hit from 20 years ago from the goo goo dolls. With the MACC saying that it has not cleared any company (MyEG & Datasonic) with regards to the corruption case of Zahid Hamidi, expect a killing field on Monday.

If nothing happens within the next 39 hours, to clear Datasonic & MyEG, the knives will be out on Monday.

All this will only benefit IRIS, which currently trades at 17 Sen. 

The Star has the story, which has basically placed MyEG & Datasonic in a COFFIN. Read below : 

KUALA LUMPUR (Bernama): The Malaysian Anti-Corruption Commission (MACC) will investigate all the companies involved in the case of Umno president Datuk Seri Dr Ahmad Zahid Hamidi who was charged with abuse of power and corruption on Friday (Oct 19).

MACC deputy chief commissioner (operations) Datuk Seri Azam Baki said any company and person involved in corrupt activities will not escape investigation.

"We investigate whoever is involved in corruption, so far one company has said they are not involved... it is up to them to say. The clarification will come from MACC, if our investigation shows that the company is not involved in any corruption, they are not guilty," he told reporters after the IBR oath-taking ceremony of the Badminton Association of Malaysia (BAM) at the Malaysian Badminton Academy here Saturday (Oct 20).

2019. Rock you like a hurricane

Is the massive 1984 hit by the Scorpions. We all know by now that the Dow Jones has been rocked like a hurricane, with the index falling by more than 800 points.

The Dow now is in bear territory but don't expect a big index effect on the local stock market. For sure MMC and Gamuda will get hit. Pentmaster and Frontken will also see some pressure.

There is one stock though, which won't be moving up or down this round. I shall write more about this stock latter now.

For now, she is resting in order to rock you like a hurricane in 2019.

Ringgit Malaysia. Killshot

Is turning out to be one of the most popular rap song ever. The single is from Eminem, taken from the album kamakazie.

Ringgit currently trades at RM4.14 to the US Dollar. This coming week looks like the killshot for the Ringgit, with the currency expected to come under pressure and test the RM4.18 to RM4.20 level.

ING Barrings meanwhile says that the Ringgit will hit RM4.25 to the dollar. Me thinks that the Ringgit will be RM4.30 come Jan 2019. Anyway this is what ING said:

Article19 September 2018Reading time 4 minutes

Malaysia: Enjoying the lowest inflation in Asia

Inflation missed estimates again in August. But with sufficiently positive real interest rates, the Malaysian ringgit will remain among Asia's top-performing currencies in the remainder of the year, and probably beyond. The risk to our end-2018 USD/MYR rate forecast of 4.25 is tilted more to the downside than to the upside

Lucky You

Is the latest rap single from Eminem ft Joyner Lucas. For those of you looking for the next big investment in the world now that the sun has stopped shining on crypto currency.
Lucky You. The next big this is a familiar product which most of us would have used at one point in our life time, but am too embarrassed to admit it.
Lucky you, vox.com has the story :
How the Canadian cannabis company Tilray became worth more than American Airlines

The pot company’s stock has only been public since July. And it’s making many people — including Peter Thiel — very rich.

The Canadian cannabis producer Tilray became the first marijuana company to go public on the Nasdaq in July. Its initial share price: $17. As of a month ago, its price had about doubled, to around $35. But in recent days, Tilray’s stock has skyrocketed well past $200. The company is now worth more than $20 billion — more than American Airlines, Expedia, and pharmaceutical company Mylan.

So what gives?

Based in the Vancouver Island town of Nanaimo in Canada, Tilray, according to its website, is dedicated to “cultivating and delivering the benefits of medical cannabis safely and reliably.” Its revenues were just $20 million last year, but because Canada is about to legalize marijuana in October, its business prospects recently have become much more attractive.

Ringgit. No Brainer

Is the hit single from DJ Khaled, currently riding high on the UK charts.

It's a no brainer that the Ringgit currently trading at 4.08 to the US Dollar is going slide further beyond the RM4.10 mark before the coming week is over.

Already RHB is selling the Ringgit at RM4.21 to the dollar, while CIMB and Maybank has it at RM4.17 and RM4.14 respectively.

The wide discrepancy in the sale of currency between the three major banks is a firm indication that even the bank's don't know for sure yet, how low the Ringgit will go.