Memoir of a pirate.. #1

Oh, it was back in 1996.., circa the twelve full-moon. I was sailing an old but very efficient Chinese junk, charting the turbulent seas of South East Asia - this is a highly prosperous and productive region, endowed with rich natural resources belonging to the people of the dragon and tiger clans.

Sailing was smooth and easy. The ship was on course in a familiar ancient trade route - the busy Straits of Malacca, scouting for easy hunts. Deck hands were happy and morale were at the highest. Suddenly, the unthinkable happened, leaving many perish in the region and plunging into the deep depths of unforgiving financial hell for a very, very long time...

And I saw it coming.. We were all caught, at the crest of a big ominous financial tidal wave !

In my captain's log (Tuesday, 24 Dec 1996) I wrote: " The development of a bearish 5th wave Diagonal Triangle (wedge) in the weekly KLCI chart is a trend ending pattern or a bull market failure!" (the market was trading at low 1200s at that time.) And I reluctantly set at new painful objective course towards the south..- the 700s! (market hit a low at 261!)

As R.N.Elliott puts it: " This ending Diagonal Triangle is a special type of wave structure that occurs primarily in the 5th wave (the final impulse wave of the entire major up trend) position. This will be the termination point of a larger pattern."

Conquest of paradise.mp3.http://hbcw.hndt.com/bbs/UploadFile/2005-10/2005106948796621.mp3
(refer to Memoirs of a pirate #2, for the Ending Diagonal Triangle charts.)