Wednesday, January 24, 2007

There is a saying in Wall Street

There is a saying in Wall Street that if it walks like a duck, quacks like a duck, and has feathers, then probably it is a duck.

On my daily chart of the KLCI I see eight white candles going up in a staircase-like pattern. All the candles have higher highs and lower lows. Volume has been increasing with the uptrend. In point and figure charting, this pattern is called a “diatonic uptrend” which signifies extraordinary steady buying. You may expect more upside.

Writer disclaims all liability for his comments.