Aiyoo DJIA shot up 397 points and KLSE is closed on Monday. What a waste. By the way the resistance RM2.30 is a hard nut to crack.

There are many stale bulls around. Those trapped at RM2.31 to RM2.75. Each time OWG tries to climb up, they will sell on strength. Next week will move sideways. Waiting for the extremely good 2nd quarter results on 25 Feb 2016 and management summit their private placement application (window dressing).

Why still no momentum?... Selling loaded.

I forecast OWG will only summit their private placement application to Bursa on 18 February 2016 and Bursa will approve on 25 February 2016. On the same day, OWG will announce their second quarter results which will be extremely good (due to school holiday season). The price will hit their target of RM2.50 and they will be able to raise enough fund.

http://finance.yahoo.com/news/u-crude-falls-back-jumping-003902750.html
Russian Energy Minister Alexander Novak said Thursday that Saudi Arabia had proposed to cut oil production by up to 5 percent by each country in order to support weak oil prices, Reuters reported.

If this is true, then we will have back our bull market again. I think it is just a false hope.

I did not hold any other shares other than OWG. Marcus Chan (CIMB) said this counter will double up end of this year. Now the private placement is very disturbing. OWG now is only RM2.24 but they want RM2.50 so that the fund is enough. How?

Artificial gap up close at RM2.24.

It seems that OWG wants to wait till the price to go to 2.50, then only they want to summit the pp application to Bursa. How to reach 2.50 unless end of this year? Wait until neck also long.

The private placement issue is yet to be solved. Now no idea when. But the law said in one month time, which is by 17 Feb 2016.

Heard the second quarter results is very good. Hope can have some rebound that time.

Price purposely pressed down.

As at 3:10 am, DJIA is +245 and crude oil at US31.65. Can OWG follows the rising crowd tomorrow or it will be pressed down again. Really disturbing this private placement process and what a wasted opportunity if it goes south again.

OWG has already teamed up with all agents for its mid April launching.

From OWG (Contact Us)

Yes, nothing wrong with the company, falling oil prices affect sentiment.

The soft launch in April is confirmed and money starts to come in in May while waiting for the rest in level 3 and 4 to be completed in second half of 2016.

"Another thing is why is it until now (after 5 days) the private placement is still not forwarded to Bursa Securities for approval."
They have answered and are targeting this Wednesday to summit and targeting the whole process to be completed before CNY. The delay was because they want to choose the best fund managers to own the pp shares.

Another thing is why is it until now (after 5 days) the private placement is still not forwarded to Bursa Securities for approval. They have not answered this question. People want to settle this faster but yet they keep on delaying it.

Private placement won't cause it to crash but delay in the launching will. So I need clear explanation. So it will still be launched in mid April and some other attractions will be opened later.

Yes, through his iphone.

There is one attraction - the aquarium that finishes in Nov 2016. All else open in April 2016.

From OWG 'Contact Us'

I have written to OWG through 'Contact Us'.


2. Is the official opening of KOMTAR theme park confirm to be on 1 April 2016?



The management is expecting the soft launch to be in the mid of April 2016. Having said, we have to take into account of unforeseen circumstances caused by mother nature, such as rain.

There is nothing much CIMB can say about OWG now other than the target price have to be diluted again because of the pp.

The new lowest done price now is RM2.26 and the highest done price now is RM2.74. Now we are at the lower end. I think I will follow 'muscle' to see the pp price first before topping up.

If the management of OWG keeps on letting the share price to go down, at the end they will have very little fund raised. They are just left with three weeks to complete the whole process.

I personally think it will be the average of RM2.22 * 0.9 = RM2.00.

For illustrative purposes only, based on an issue price of RM2.26, representing approximately 90.6% discount to the five (5) - market day approximately RM2.50 per Placement Share.

OWG management is smart. They are waiting for the market sentiment to improve. Then only they will fix the private placement price. They have one month to to decide.

The proposed private placement has yet to to be summited to Bursa Securities for approval. Don't know what OWG is up to. Starting to get worry.

Dear ProfitMan,

I am very concerned about our KLCI. Could you please workout what is the Support 1 and Support 2 for a technical rebound. Thank you.

Last time in August 2015, Dow Jones only drop till 15666, Now Dow Jones already 15634 a new low.

Last time in August 2015, Dow Jones only drop till 15666, Now Dow Jones already 15610 a new low.

Dow Jones now drop 400 points. This time really die.

Surprise OTB Stochastic buy call at 11:37 am got no effect. Still keep on dropping. Looks like very serious. If KLCI 1590 cannot support, really die.

Very likely it will be the average price of 31 Jan, 2 Feb, 3 Feb, 4 Feb and 5 Feb times 0.9.

Private placement is 10% shares given to strategic people at 10% discount using the average price of 5 trading days. Usually during this process, the share price is controlled by the management not to let it fly because if too expensive no one wants to take up the shares.

If follow Evergreen, it was proposed on 20 Nov 2015 and completed on 1 Dec 1015. [Earlier by 6 days].

Last time Instanco proposed Private Placement on 30 Nov 2015 and completed on 17 Dec 2015. So, OWG proposed it on 18 Jan 2016 and should be completed on 5 Feb 2016.

Volume shrinks a lot. Hope the private placement faster completed.

They will block the price from going up because if too expensive no one wants to take up the private placement shares. They want to block the price at RM2.50 to make the private placement price to be 90/100 * 2.50 = RM2.25. Then the target price got to be diluted. Already diluted once because of bonus issues, now got to dilute again because of the 10% private placement. For the next 1 month, the price will be either stagnant or go down. Haizzzz...

Private placement is a very bad news. I have seen how Evergreen and Instanco drop because of private placement. Come at a wrong timing where the global market is so gloomy.

Dear muscle, kao kao is what price?

Both.

Extremely bad! Closed at RM2.51.

Hopefully rise to 3.50 - 3.80 region by end of April 2016.

Not all counters will go down tomorrow. A few will go up or unchanged. Can OWG be these few? Very hard to say one.

There are a few key words:
(a) hang tight
(b) volatility just temporary
(c) growth
(d) medium term

Dear Johny Khong, last Friday DJIA fell by a massive 390.97 points and crude oil is at US29.65. Can you kindly please share to us what should we do or what is the market phsycology should we apply.

Ah Ho, I phone the registrar. They said the bonus shares will go into our CDS account on Monday 9.00 am.

Hmmm... Afternoon session down trend.

Crude oil has broken away from US31.00. So DJIA now up > 100 points.