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Kagi Chart
Like Candlestick and Renko charts, Kagi lines charts come from Japan and were made popular in the USA by Steve Nison. Kagi charts display a series of connecting vertical lines where the thickness and direction of the lines are dependent on the price action. If closing prices continue to move in the direction of the prior vertical Kagi line, then that line is extended. However, if the closing price reverses by a pre-determined "reversal" amount, a new Kagi line is drawn in the next column in the opposite direction. An interesting aspect of the Kagi chart is that when closing prices penetrate the prior column's high or low, the thickness of the Kagi line changes.

Kansas City Board of Trade (KCBT)
A futures exchange trading No. 2 red wheat futures and options; Mini Value Line futures and options; and Value Line Index futures. Hours: 8:30 am. to 3:15 p.m. Monday through Friday.

Karat
A unit of fineness for gold jewelry. Twenty-four karat is equal to 100% pure gold; 18 karat contains 75% pure gold; and 10K gold contains 41% pure gold.

Key-person Insurance
A special insurance policy on the lives of principal active shareholders in a corporation. Key-person policies can be used to fund buy-sell agreements as well as provide funds to continue the company in the event of one manager's death. There may be important tax implications when key-person insurance is taken out.

Know Your Customer
An ethical concept that brokers should have reasonable grounds to believe the investment recommended is appropriate for the customer.

Kondratieff Cycle
The theory that economies of the Western capitalist world were prone to major up-and-down super cycles lasting fifty to sixty years. Also known as the Kondratieff wave, this theory was developed by Soviet economist Nikolai Kondratieff in the 1920s and has some adherents today although it is controversial amongst economists.

KST
Indicator developed by Martin Pring. A weighted summed rate of change oscillator. Four different rates of change are calculated, smoothed, multiplied by weights and then summed to form one indicator.

Kuala Lumpur Commodity Exchange
An exchange trading futures in crude palm kernel oil, cocoa, tin, rubber and crude palm oil.

Kurtosis
Descriptive measure of how flat or pointed a distribution is.