Double bottom on 5 min FKLI futures
20081020 1120. FKLI futures shows double bottom formation. This feels like the beginning of the end or does it signal the end. Certainly the way the selling came in on Friday on KLSE stocks and earlier this morning, it certaintly feels like capitulation.(bottom) In this situation, with the benefit of hindsight, everyone should have just stpped aside with the bids and let them (the suckers) sell every stock down 20 or 30% then there is opportunity for those brave enough to take on the capitulation trade. Hopefully this rebound continues on into the afternoon.
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