Dow ended lower on Friday. If Dow continues to move lower next week then it is possible that wave d of (xii) has ended and Dow is going down to complete its wave e and wave (xii).
Then the next wave up is wave (xiii) and that can be a possible point for the major wave (5) to end if wave (ix) at the end of December 2013 is not the turning point.
If there is a major wave (6), it will be a 15% pullback and if there is no major wave (6) and the major wave (5) is also the end of mega wave 1, then be prepared for a plunge of 35% if you are lucky. The worst can be a 60% drop if Dow goes all the way back to March 2009's low of 6,547.
Latitude Tree Holdings Bhd (Rm3.08)
Latitude Tree put on 33 sens or 12% on Friday with high volume. It opened with a gap of 3 sens. It appeared to me that its wave 7 has started.
From its low of 60 sens in November 2012, Latitude Tree has gained 400% to reach Rm 3.08 within 17 months.
Before end of this month, Latitude Tree will have to announce its 3rd Quarter (January to March 2014) earning. It reported very strong earnings of 15.02 sens and 19.52 sens a share for its 1st Quarter (June to September 2013) and 2nd Quarter (October to December 2013) respectively. Judging by its price movement on Friday, it appeared to me that it is going to report another strong earning for its 3rd Quarter.
Sad to say, I have sold my last Latitude Tree upon reaching wave 5 :(
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