Anyhow, what we are seeing now is that stocks are rallying up. The bears are in hiding, waiting for the next strike when the plan eventually fails. The question is how long will the stocks keep going up? With this latest event, it seems that KLSE may be making a tripple bottom, thus invalidating the rising wedge interpretation. If this is a triple bottom, KLCI may go to 950-1000 region. I see this as a good shorterm trade for 1-2 months. We still need to remember that the month of May may be the start of another bear move. Stocks have move up very fast. The plan is to wait for a pullback, that is when the contra players take their profit, to enter.
No comments:
Post a Comment