Wednesday, August 03, 2005

Breaking new high

Seems that my analysis is wrong. Bursa is breaking new high. Both the daily and weekly charts shows that KLCI is overbought. Only blue chips are matching higher. 2nd and 3rd liners all still have no petrol to move. It is very dangerous to chase the price when it is overbought. Your probability of winning is getting less and less (risk increases). If we become emotional, then we may be the fools that buy at the highs (buy high sell low)

We must be patience. Remember, what goes up must comes down. Wait for the price to pullback and then only take a ride for the next trip up.

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