5:12 pm - FKLI Jan doing a year end wash back to 1414.0

If this is a wash, then we have a good start for 2008.

If this is a true for reversing the up trend, then we have a down trend for the first week of 2008.

Look at the tail.

10:03 - FKLI Jan gap up to cross the resistance @ 1444.5

Technically, FKLI Jan has touch the last high @ 1454.5. Currently it is trading 1452/1451.5

9:31 am - KLCI is certainly bullish. Vol is steady and not high is good for breakout.

9:59 am - FCPO will trend higher next week as it track against soybean.

Soybeans prices reach 34-year high NEW YORK (AP) - Soybean futures fell Friday, pulling back after touching a 34-year high on expectations for robust exports next year and continued strong demand from China. Gold prices climbed almost $11 an ounce, boosted by strong oil prices, weak economic data in the U.S., and world political concerns following Thursday's assassination of Pakistani opposition leader Benazir Bhutto. Wheat futures dropped sharply and oil prices fell. Trading was light in most financial markets due to the holiday season, and that tended to exaggerate many price movements including the turnaround in soybeans. U.S. exporters have already sold roughly three-quarters of the soybeans the Agriculture Department predicts for the whole marketing year, which ends in June 2008. To make up for dwindling inventories, analysts say farmers need to plant more soybeans than they did last year -- when an ethanol boom led farmers to favor planting corn acres over soybeans. So far this year, soybean exports are running at 735 million bushels, or about 74 percent of the USDA's total estimate of 995 million bushels. Last year, the farmland dedicated to soybean plantings was reduced by 15 percent. Feeding Friday's record was continued strong demand from China, the world's largest consumer of soybean oil, said DTN commodities analyst Elaine Kob. "It's really been an impressive week for soybeans," she said. A bushel of soybeans for March delivery settled down 8.5 cents at $12.23 a bushel. The price had jumped to $12.48 overnight, beating June 1973's closing high of $12.10 but still shy of that day's trading record of $12.90 a bushel. Wheat for March delivery fell 26.25 cents to $9.15 a bushel. March corn rose 2.5 cents to $4.5475 a bushel, while March oats traded flat, settling at $$3.09 a bushel. Gold prices advanced on the precious metal's appeal as a safe haven investment during political uncertainty. Bhutto's assassination in a suicide bombing has stirred investor worries about further instability in the region. "The geopolitical background continues to unnerve a lot of people," said Jon Nadler, senior analyst at Kitco Bullion Dealers, adding that gold has "the potential to close out the year at its very peak." The dollar's steep drop against the 13-nation euro this year has been a major driver behind gold's advance from less than $650 an ounce in January to a 28-year high near $850 an ounce in November. Gold futures are up nearly 32 percent this year, Nadler said. An ounce of gold for February delivery added $10.90 to settle at $842.70 on the New York Mercantile Exchange. March silver climbed 0.077 cent to $14.895 an ounce, and Nymex copper for March delivery fell 6 cents to close at $3.0720 a pound. The dollar fell against the euro and yen in late New York trading, but strengthened versus the pound. Hampering the rise of gold and other commodities was a government report showing sales of new homes fell in November to their lowest level in more than 12 years. The Commerce Department said new home sales fell 9 percent from October to a seasonally adjusted annual rate of 647,000. Copyright 2007 Associated Press. All rights reserved. This material may

5:09 am - KLCI boleh ! Last minutes pushed up by the big institution !

KLCI boleh ! and ready for Jan 2 rally.

FKLI Jan closed with a upthrust. Let's see how Monday 31 Dec wud open with effect of DJIA tonite.

4:10 pm - After Hong Kong Hang Seng market closes at 4 pm, FKLI will set its goal for higher.

Not influenced by Hang Seng market, the Malaysian "Tai Ko" can move the market up with relative easy effort.

12:54 pm - FKLI is holding up and looking to break upside.

9:29 am - Market reacting to Bhutto's assassination

However, FKLI and KLCI holding nicely.

5:43 pm - FKLI trade higher. Our long position is in nicely

Took the long trade after it broke up.

12:21 pm - FKLI broke out nicely to 1435

Look like we are in long again.

9:44 am - FKLI Jan 2008 contract break out for the 3rd attempt

Let's see if we get a bullish year end closing. Here is the 15 mins chart on the breakout.

2:36 pm - FKLI Dec 2006 - Modest uptrend until first week of Jan 2007

11:31 am - FCPO - 26 Dec 2006. Today based last year.

FCPO had a good run on 26 Dec 2006. It hit a new high on that day. This nice uptrend during the last 2 weeks of Dec 2006 is due to the flooding in the palm oil estate.

10:58 am - FCPO export Dec 1-25 down -0.8%

Despite negative news on FCPO, FCPO continue to power higher. Last high at 3068 and today's high at 3064.

9:53 am - Go Long if break above 3018 resistance for FCPO

If you have been reading my CI/CPO newsletter dated 24-28 Dec 2007, there is a recommendation to go long if break 3018 resistance.

The FCPO is in an uptrend on a daily basis (check out 240 mins chart posted earlier).

Trade FCPO with a wider stop at least 40-60 pts on a daily basis.

Here is a snapshot of my newsletter dated 24-28 Dec 2007

9:35 am - FCPO is trending nicely & closed 3030 last Monday.

Crude oil has risen and soy bean oil has broken to new all time high.

Look at the 240 mins chart of FCPO -March 08 contract.

3:30 am - FCPO is trending nicely along 240 mins chart.

Here is an opportunity to go long at 3015/3016 on a 15 mins entry using breakout as your entry approach and using 240 mins as stop. Trail your stops on the 240 mins as FCPO break higher.

On my CI & CPO weekly newsletter, weekly entry is 3,018 on the long position using daily chart.

12:21 am - FKLI broke higher to 1427.5

It is treading nicely along the Bollinger Band. Can you buy now ? You can buy on the basis of EOD chart. Today is 5 days line change. You are looking at 25-30 pts stop if you are trading daily chart.

However, on the daily chart, FKLI is currently trading at 61.8% (downtrend). If FKLI can break higher above 61.8%, FKLI can trend higher. The 61.8% is a resistance.

4:51 pm - FKLI is trading in bullish terrority.

FKLI is trading at this point +12 pts premium.

Wait for DJIA closing tonite. If it is good DJIA closing > 150 pts, MOnday is selling day i.e. to take profit.

If DJIA closing low to slightly high, Monday is a day for going long.

As forecasted, when all the fund mgrs are on leave due to holiday seasons, they run the market up.

11:49 am - Looking for a re-entry to go long to ride this mini year end rally

On uptrend, FKLI wud retraced back to 38.2% or 50% retracement.

So if this top @ 1406 for today, then look to buy back at 1390.8 (38.2%) or 1386.0 (50%).

10:14 am - FKLI rebounds after 1 day of holiday.

As DJIA not falling too much and the regional markets are recovering, so too is FKLI.

Looks like FKLI has taken out the last high at 1397 with its today's high at 1398.5. On the intraday, FKLI is forming a double top. This is a strong resistance. If the top at 1398.5 is taken out, think to go long.

5:12 pm : FKLI closed +3.5 pts due to last seconds buying

It was a see-saw market for FKLI, morning up and afternoon selldown to 1387 prior to pre-matching.

DJIA futures is -10 pts.

With the public holiday Hari Haji, let's see how DJIA is going to work out.

9:27 am - We were long yesterday as KLCI had 5 consecutive down bar

There were a lot of short covering yesterday i.e. for those who shorted the FKLI in the past few days are covering their short position by going long or buying.

There will be more short covering today and these "shorties" are going long - fueling to the reversal of FKLI.

10:07 am - FKLI is about to cross up.

Be ready to go long.

9:55 am - FKLI may be heading for a reversal soon.

After 3 consecutive days of downtrend, FKLi is ready for a reversal ??

Look at Hrly bar.

1:12 pm - FKLI holding nicely at 1389-1390

Despite selldown by KLCI, FKLI holding up. If this continues to after lunch, we are looking for a rally, maybe a reversal soon.

2:04 pm - Wow ! Another down day for DJIA. Expect gap down for FKLI on Monday.

Wall Street sells off on inflation fears

NEW YORK (AP) - Stocks finished a bruising week on the downside Friday after a jump in consumer inflation raised concerns about how much freedom the Federal Reserve has to continue cutting interest rates. The Dow Jones industrial average gave up more than 178 points. Concerns emerged after the Labor Department reported its consumer price index had a bigger-than-expected jump for November, with large increases in the cost of clothing, airline tickets and prescription drugs. That raised questions about the Fed's options for priming the economy. Policymakers this week lowered interest rates and announced a plan to align with other key central banks and offer loans to pressed lenders around the world. But while it wants to stimulate the U.S. economy and make lending easier among banks wary of faltering debt, the Fed also has to keep a watchful eye on inflation. Robert Dye, senior economist at PNC Financial Services Group, said the economic readings this week painted a mixed picture for investors, spurring some of the market's volatility. "If you take the stronger-than-expected economic data we saw this week in the form of retail sales and add to that the inflation data and then combine that with a somewhat ambiguous statement from the Fed, you get a picture as clear as mud," he said. The uncertainty weighed on the markets Friday, a day after stocks finished mixed. The Dow Jones industrial average fell 178.11, or 1.32 percent, to 13,339.85. Broader stock indicators also fell. The Standard & Poor's 500 index dropped 20.46, or 1.37 percent, to 1,467.95, and the Nasdaq composite index fell 32.75, or 1.23 percent, to 2,635.74. It resulted in Wall Street's worst weekly showing in a month. For the week, the Dow tumbled 2.10 percent, while the S&P 500 declined 2.44 percent and the Nasdaq shed 2.60 percent. Bond prices fell for the third straight day. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.23 percent from 4.21 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell. Light, sweet crude dropped 98 cents to $91.27 per barrel on the New York Mercantile Exchange. Friday's report on inflation follows a reading Thursday that showed the biggest jump in inflation at the wholesale level in 34 years. The 0.8 percent increase in consumer prices topped the 0.6 percent rise economists had been expecting. The report also showed so-called core inflation, which excludes often-volatile food and energy prices, had its biggest increase in 10 months, rising 0.3 percent. Dye said the Fed could be proven wise for cutting interest rates by just a quarter of a percentage point Tuesday rather than by a half point as some investors had hoped. Stocks fell sharply Tuesday after the Fed's rate decision and staged a partial rebound Wednesday after the Fed announced its liquidity plan with other central banks. The uptick in core inflation is unnerving, Dye said, because it makes it harder for the Fed to justify further rate cuts. Also Friday, the Federal Reserve said industrial production rebounded in November, increasing 0.3 percent after a steep 0.7 percent decline in October. The increase came in slightly ahead of Wall Street's expectations. But beyond economic reports, investors faced more news from the troubled banking sector. Citigroup Inc. fell 31 cents to $30.70 after the bank announced late Thursday it plans to move $49 billion of assets from seven "structured investment vehicles" onto its books to help the SIVs repay their debts. The bank had said earlier it had no plans to bring the SIVs onto its books. Citigroup's Vikram Pandit, who on Tuesday became chief executive, said taking control of the SIVs was the best way to guard their credit ratings and help them sell their investments at decent prices. SIVs are complex investments set up by banks and sold to investors and have come under pressure in recent months because of their investment strategy, which involves the use of mortgage investments and other now-risky debt. The resulting drop in demand hurt the value of the SIVs. Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where volume came to 3.25 billion shares from 3.49 billon on Thursday. The Russell 2000 index of smaller companies fell 15.53, or 2.02 percent, to 753.93. Overseas, Japan's Nikkei stock average slipped 0.14 percent. Britain's FTSE 100 rose 0.52 percent, Germany's DAX index rose 0.25 percent and France's CAC-40 rose 0.26 percent.

8:00 pm - Lower closing for KLCI

Malaysian shares close lower on local political tension, shaky US outlook

- KUALA LUMPUR (Thomson Financial) - Malaysian shares closed lower Friday as investors continued to trim positions ahead of the weekend given rising domestic political tensions and a shaky outlook for the US economy. The government detained five leaders of Malaysian Indian activist group Hindraf Thursday under a security law after the group held a mass anti-government protest in Kuala Lumpur last month. The Hindraf rally was held just two weeks after a demonstration was organized by electoral reform campaigners. The Kuala Lumpur Composite Index (KLCI) closed down 7.15 points or 0.5 percent at 1,403.41, off a low of 1,396.45. For the week, the KLCI was down 30.63 points or 2.1 percent. The FTSE Bursa Malaysia 30-large cap index dropped 58.53 points or 0.6 percent to 9,036.3 and the FTSE Bursa Malaysia second board index was down 7.17 points or 0.1 percent at 6,678.32. Decliners beat advancers 453 to 347 with 299 stocks unchanged and 246 counters untraded. Trading volume was thin at 668.5 million shares, valued at 1.66 billion ringgit.

7:52 pm - FKLI closed lower at 1395.0

The trend is still down. FKLI had 3 consecutive down bar in a row. Watch out for the reversal bar. Maybe next week.

12:55 pm - FKLI breakdown to 1389.5 lowest of the day.

However, TG indicates no signals. So we forgo the short trade

But now it has 3 strengths in intraday charts. HSI Hong Kong recover back. Looking to go long.

9:40 am - FKLI gap up due to support on DJIA.

Nikkei is positive and ST Spore is slightly positive.

Possibility to short FKLI at 1400 or below. At this point, think long.

9:16 pm - DJIA closing lower looks more certain.

TG indicates weakness for DJIA.

Wall Street poised for lower open

NEW YORK (AP) - U.S. stocks headed for a lower open Thursday as investors appeared skeptical that a plan from the Federal Reserve and other central banks to ease tightness in the credit markets would prove effective. Stocks declined overseas amid uncertainty over the plan after an initial burst of enthusiasm in the U.S. on Wednesday gave way to concerns about the effort to inject liquidity into the credit markets. U.S. stocks ended higher but well off their highs Wednesday as investors took a closer look at the Fed's agreement with the European Central Bank and the central banks of England, Canada and Switzerland to combat what it labeled elevated pressures in the credit markets. Uncertainty continued Thursday ahead of several economic readings due before the opening bell, including the Labor Department's producer price index, a reading of inflation levels. In addition, the Commerce Department is slated to release its November retail sales report. The reading could be an important snapshot of retailers' health heading into what is for many the most important period of the year. The uncertainty over the economy sent stock futures lower on Thursday. Ahead of the opening of trading, the Dow Jones industrial average futures fell 114, or 0.84 percent, to 13,386. Standard & Poor's 500 index futures fell 13.90, or 0.93 percent, to 1,476.30, while Nasdaq 100 index futures fell 22.50, or 1.07 percent, to 2,085.20. Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its yields, rose to 4.10 percent from 4.06 percent late Wednesday. The dollar rose against other major currencies, while gold prices fell. Light, sweet crude rose 19 cents to $94.58 per barrel in premarket electronic trading on the New York Mercantile Exchange. In afternoon trading, Britain's FTSE 100 fell 2.23 percent, Germany's DAX index lost 1.29 percent, and France's CAC-40 fell 2.18 percent. In Asia, Japan's Nikkei stock average closed down 2.48 percent, while Hong Kong's Heng Sang index lost 2.72 percent on the day. In corporate news, Costco Wholesale Corp.'s fiscal first-quarter profit climbed 11 percent amid membership fee growth. The warehouse retailer's results met Wall Street's expectations. Investors also awaited fiscal-fourth quarter results from Lehman Brothers Holdings Inc. expected Thursday morning. Dow Chemical Co. said it agreed to sell a 50 percent stake in five of its global businesses to a Kuwaiti company for about $9.5 billion to form a joint petrochemicals venture.

5:16 pm - FKLI closed at 1400.0 down -21.0 pts.

DJIA futures is down -44 pts.

Wud DJIA closed lower tonite. If so, DJIA closed lower, we wud have a opening gap and think to go long.

If DJIA down by -200 pts tonite, FKLI wud probably gap down to 1384-1390.0 on the opening.

4:26 pm - FKLI really sell down today. However TG was too late on the position trade

Intraday TG is whipsawing too. It has long position earlier in the morning and short just before lunch.

Position TG system indicates and it was too late already at 1409.0. No edge !

A well known newsletter in town was long on this current trade with stop loss at 1414 and they got hit too. The daily FKLI traders (those who use eod chart) were stopped out now.

5:54 pm - No position after closing our long position.

DJIA Futures is up by +95 pts.

Let's see if DJIA wud close up tonite after -290 pts.

4:07 pm - Tradeguide indicates 2 weakness on FKLI

If FKLI breaks lower, we are looking to short the market.

9:27 am - US markets did not like FOMC rate cut of 25 basis points and selldown at late trading hours.

The KLCI has some support due to crude palm oil but react to bad news of DJIA -294 pts fall.


The Lowdown

Wall Street did not get everything it wanted for the holidays when Federal Reserve lowered the federal funds rate by 25 basis points to 4.25%.
Stocks took a dive on Tuesday afternoon as traders scoffed at language in the Fed's policy statement, which offered no assurance of another cut. The Dow Jones Industrial Average fell 294 points to 13433, its biggest drop since Nov. 1. The Nasdaq lost 67 at 2652, and the S&P 500 gave back 38 to 1478.
The rate cut had been widely expected, as recent speeches from Fed governors and Chairman Ben Bernanke had portrayed the economy as slowing. However, the language of the policy statement suggested the Fed's next move is unclear. "Recent developments, including the deterioration in financial market conditions, have increased the uncertainty surrounding the outlook for economic growth and inflation," the Fed wrote.
There had been some mystery surrounding this Fed meeting. Economists appeared certain that the Fed would make its third consecutive cut in as many meetings. However, some economists had gone so far as to predict a cut of 50 basis points.

3:20 pm - FKLI finally broke out the resistance 1441/1442

It has gone up prior FOMC tonite.

9:37 am - DJIA closed higher +101.45. FKLI had gap up this morning.

Our last position was short FKLI @ 1428.5 and we were out yesterday before this morning FKLI gap up. Looking to go long.

Remember, FOMC interest rate cut announcement tonite. Watch your CNBC.

8:21 pm - Will DJIA closed higher tonite ?

Stocks head to higher open despite UBS
NEW YORK (AP) - Wall Street headed for a slightly higher open Monday despite further evidence that the subprime mortgage crisis continues to spread. Swiss bank UBS said it will write down some $10 billion of subprime mortgage holdings, and also announced plans for an $11.5 billion capital injection from the government of Singapore and an unidentified Middle Eastern investor. Shares of the bank rallied in Europe on relief this might be the worst of UBS' exposure, and that the bank was able to secure more capital. The announcement from UBS comes just before the top U.S. investment banks are slated to report earnings. Lehman Brothers Holdings Inc. will report results on Wednesday, while Goldman Sachs Group Inc., Morgan Stanley and Bear Stearns Cos. are scheduled for next week. Investors were also upbeat ahead of the Federal Reserve's rate-setting meeting on Tuesday. Policymakers are broadly tipped to lower rates, though economists are still split over whether there will be a quarter point cut or a half point cut. Wall Street will also be monitoring data released Monday on pending home sales in October. Dow Jones industrial average futures rose 31, or 0.24 percent, to 13,681, while Standard & Poor's 500 futures rose 3.20, or 0.21 percent, to 1,510.50. Nasdaq 100 index futures added 5.00, or 0.23 percent, to 2,137.00. Wall Street has posted robust gains recently as investors grew more confident in the Fed's openness to loosening its policy again. The Dow has risen more than 640 points over the last two weeks, a rally that has brought the blue-chip index to less than 4 percent below the record close it reached Oct. 9. Last week, the Dow ended 1.90 percent higher, the S&P 500 index finished 1.59 percent, and the Nasdaq ended up 1.70 percent. In corporate news, Blackstone Group Inc. might be planning a bid to acquire Rio Tinto Ltd., according to Britain's Daily Telegraph. Blackstone would lead a consortium that would include China's sovereign wealth fund, according to the report. Japanese drug maker Eisai Co. said Monday it will buy U.S. biopharmaceutical company MGI Pharma Inc. for $3.9 billion in a move aimed at boosting its cancer drug business and sustaining sales growth. Oil prices slipped Monday, extending a decline that began Friday after a November U.S. jobs report turned out to be less robust than expected. Light, sweet crude fell 16 cents to $88.12 a barrel in electronic trading on the New York Mercantile Exchange. Overseas, Japan's Nikkei stock average closed down 0.20 percent, while Hong Kong's Hang Seng index fell 1.18 percent. Britain's FTSE 100 added 0.07 percent, Germany's DAX index rose 0.29 percent, and France's CAC-40 increased 0.29 percent.

7:48 pm - FKLI really moves sideway. Wash the stops at 1438/1439.0

FKLI gap down after lunch and went down straight to 1426/1427 support level. Since then, it is moving sideway.

With the FOMC Dec 11 interest rate, the market is getting trendless. Overall, FKLI market is weak but with FOMC announcement, FKLI market may jump up.

Let's see as the next few days develop.

10:08 am - FKLI has broken lower to 1426.5

With crude oil lower in NY last week, plantation theme stocks will be badly hit.

Sime, KLK and IOI Corp are down ! so will be our KLCI !

2.57 pm - Look like DJIA had runned of steam - bear a toppish doji.

This wud affect Monday FKLI opening and rest of the week.

Paulson: Economy 'Fundamentally Healthy'

NEW YORK -(Dow Jones)- U.S. Treasury Secretary Henry Paulson Friday said the economy is "fundamentally healthy," with inflation "contained," but that the housing sector remains the largest danger.
Paulson made his comments in an appearance on CNBC.
The Treasury secretary, facing a visit to China next week, also said he wouldn't say that Chinese markets were open to the U.S.
In an appearance on the Fox Business Network, Paulson added that China's foreign exchange policy makes it increasingly difficult for that country to battle inflation.
He reiterated that a strong dollar is in the U.S.'s interests.
The Labor Department earlier in the day reported that 94,000 new jobs were created in November, topping Wall Street's expectations. Paulson, in an appearance on Bloomberg Television, said the economy would continue to grow.
In comments on the Bush administration's mortgage-relief plan, unveiled Thursday, Paulson also countered criticisms that the plan would involve taxpayer funding.
Paulson announced Thursday new guidelines by mortgage investors and servicers aimed at streamlining the process for struggling homeowners to refinance or rework their mortgages.
The streamlined procedures, which make up part of a package of government and industry measures aimed at limiting the fallout from the mortgage crisis, could help as many 1.2 million subprime borrowers get fast-track service. He told Bloomberg TV that the Treasury Department is looking at policy "prescriptions" that include the securitization process and the ratings agencies, for later consideration. He didn't elaborate.
Paulson said a much larger volume of adjustable-interest-rate increases, or resets, would be seen next year.
He also sought quick action in the House of Representatives to enact a temporary fix for the Alternative Minimum Tax. The Senate already has approved a so-called AMT patch.
The AMT, a parallel income tax, was created in 1969 to prevent a small group of very wealthy people from avoiding or greatly reducing their tax bills. Because it wasn't indexed for inflation and because recent tax cuts didn't account for it, a growing number of families would have to pay for it in the absence of legislation.

9:44 am - FKLI has strong support at 1445-1448

I will wait for strength to appear before buying long at 1445-1448.

A lot of the Msia blue chips is looking to break higher. E.g. Maybank is looking to cross 200MA.

9:10 pm - FKLI - I am thinking of going short until I saw FOMC may cut 50 basis pts on 11 Dec

Stocks tilt to higher open ahead of data

NEW YORK (AP) - U.S. stocks headed toward a higher open Wednesday ahead of economic data that some investors hope will support a half-point interest rate cut. Wall Street is waiting for gauges on the service sector, factory orders and worker productivity. All are expected to be closely watched by the Federal Reserve, which meets for the last time this year next Tuesday. It is widely expected central bankers will lower rates to help pump up the economy and head off a recession. However, some investors are betting the Fed will go beyond the generally anticipated quarter percentage point cut, and lower rates by a half point. Investors were also hoping to rebound after two straight sessions of losses. Dow Jones industrial average futures rose 70, or 0.41 percent, to 13,332. Standard & Poor's 500 index futures rose 9.40, or 0.64 percent, to 1,472.40, and the Nasdaq composite index added 13.75, or 0.67 percent, to 2,076.00. Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.90 percent from 3.88 percent late Tuesday. The dollar was lower against other major currencies, while gold prices rose. OPEC decided Wednesday to keep output ceilings steady for now, in a move that briefly propelled crude prices above $90 a barrel. Wall Street is also waiting for government data that is forecast to show that crude oil inventories fell last week for the third straight week. Light, sweet crude rose $1.09 cents to $89.41 per barrel in premarket electronic trading on the New York Mercantile Exchange. Fannie Mae has joined rival mortgage financer Freddie Mac in cutting its dividend and selling special stock to raise capital. The government-sponsored lender hopes to cushion against mounting losses from high-risk home loans. Economists expect a report on business activity in the service sector to show slower growth than the previous month, due to pressure in the real estate, financial and shipping sectors. The Institute for Supply Management, a trade group of purchasing executives, will release its index of non-manufacturing business activity for October at 10 a.m. EST. Commerce Department figures are also expected to show factory orders in October were flat as concerns about the nation's economy's health hurt demand for manufactured goods. The data is due out 10 a.m. EST. Investors are also waiting for a government report due to show U.S. worker productivity rose in the third quarter while wage pressures slowed. The Labor Department is scheduled to release its final report of both measures for the July-September quarter at 8:30 a.m. Overseas, Japan's Nikkei stock average closed up 0.83 percent, while Hong Kong's Hang Seng index rose 1.61 percent. Britain's FTSE 100 added 1.11 percent, Germany's DAX index rose 0.69 percent, and France's CAC-40 increased 0.83 percent.

3:43 pm - FKLI is at its highest - 25 years high

FKLI Dec clocked 1,444.5.

However, we have taken profits along the way at 1427,1437.5,1440.0

Entry at 1415.0

9:42 am - FKLI has a support at 1414-1416 level.

Due to Sime RM +0.10 increase, our KLCI goes up 1.8-2.0 pts.

This is extraordinary and this is how they can control our KLCI which in turn control the FKLI.

FKLI is below 50MA and cross down - Look to short now.

Short if it break below 1263.5. However, FKLI trading at discount -19 pts.

11:42 am - Trail stop to 1253.5

Trade #8 is in the money +19 pts.

12:12 noon - FKLI cross up - Long 1234.5

Stop loss at 1206.0

10:49 am - Trade 7 is out with -3 pts. loss

Waiting for the next trade.

5:37 pm - Trade FKLI went long at 1271.5 yesterday

Stop out at 1254. Loss -17.5 pts

8:51 pm - FKLI stopped out at 1252.5

Loss of -14.5 pts

9:05 am - FKLI has cross down - Massive fall from DJIA -387 pts drop

Is the world coming to an end ?

4:46 pm - FKLI has crossed down below 50MA

Ready to short when crossdown.

2:33 pm : FKLI did break out 1380.0

There were no 7 bars line at the crossover. No signal for long.

It is ok if FKLI goes higher.

10:05 am - FKLI has crossed up due to gap up

However, there is no 7 bars line change.

10:06 am - No long position as MACD cross over but no 7 bars line change

The FKLi is gapping very widely making trading difficult to judge.

10:05 am - Short position stopped out at 1285.5

Loss of 27 pts.

10:09 am - FKLI long position stopped out at 1369.0

Loss of 43.5 pts. The biggest loss so far experienced.

10:49 am - FKLI short at 1258.5

Stop loss at 1285.5

10:19 am - Long Aug contract at 1312.5

Stop loss at 1275.0

9:09 am - FKLI has cross up but the trap is ...

Mkt does not like gap up on good news. However, cross did occur and with 44 pts discounts. This is an attractive trade.

Wait till 10 am.

3:11 pm - Short position triggered at 1295.0

Today profits +27 pt.

2:34 pm - Trail stop to 1303.0

12:37 noon - Trail stop to 1324.5

11:35 am - Short at 1322.0

Stop loss at 1331.5

11:06 am - FKLI Aug cross down - Ready to short

9:42 am - Stop triggered at 1345.5

Profit +10 pts.

8:27 pm - FKLI cross over at 4 pm

Long Aug contract at 1335.5. Stop loss at 1323.0

12:45 pm - Waiting for FKLI to cross up

Almost any time now. Targeting Aug contract as July is expiring.

4:12 pm - No short signal for FKLi despite MACD crosses down

Leave this one and look to go long as you have a premium for Aug contract.

5:27 pm - FKLI finally stop out at 1382.0

Stop out at 1382.0. Loss -4.5 pts

Beware of the Black Swan !

Mkt gap down and wait to sell at 1382.0

10:14 am - Trail stop to 1377.5

3:45 pm - FKLI crosses over again.

Long at 1386.0 and stop loss at 1376.0

10:23 am - FKLI gap down due to DJIA -150 pts drop

Stop out at 1371.5 -> +2.5 pts.

4:46 pm - FKLi has moved higher

Trail stop to 1371.5

10:30 am - FKLI gap up to 1381.5

Move stop to 1368.5 pts.

4:02 pm - FKLI fill at 1369.0 instead

Long at 1369.0. Stop loss 1356.5

3:13 pm - Buy stop limit at 1367.5

Waiting for FKLI to break upside.

2:56 pm - FKLI is ready to cross up

Place buy limit at the high 1367.5

11:09 am - Lot of short covering this morning !

There were considerable vol in covering short position today. Since then, there is no up push of the FKLI.

Wait for FKLI to cross up.

2:39 pm - FKLI stopped out 1379.5

Stop out with +13 pts.

11:29 am - Trail stop to 1370.5

Trail is in the money +4 pts.

5:36 pm - Trail stop to 1357.5

10:46 am - FKLI cross over - Long position initiated

Long at 1366.5. Stop loss at 1354.5

10:44 am - FKLI stop out at 1354.5

Profit +13 pts.

4.30 pm - Trail stop to 1358

In the money +9.5 pts.

12:19 noon - Trail stop lower

Trail stop to 1360.5

10:48 am - FKLI moves lower

Trail stop to 1361.0

11:31 am - FKLI cross down and below 50MA - Short FKLI

Sell at 1367.5. Stop loss at 1373.5

10:14 am - Stopped out at 1372.5

No loss or win. +0 pts.

3:42 pm - FKLI going thru accumulation stages

Trail stop higher to 1372.0

5:05 pm - FKLI goes long at 1372.5

Stop loss at 1362.5

10:37 am - Stop out at 1373.5

Profit +27 pts.

3:31 pm - Trail stop to 1369.5

+23 pts in the money

8:53 pm - Trail stop to 1362.0

15.5 pts in the money

3:26 pm - FKLI MACD cross up in the morning

Went long at 1346.5. stop loss at 1340.5

9:20 pm - FKLI turn up and long at 1393.5

Stop loss 1385.5

9:08 am - Stopped out at 1375

Profit +20 pts.

5:17 pm - An update - FKLI cross over on 14 June 07

Long at 1355 and at the current stop loss at 1375. In the money +20 pts.

4:29 pm - FKLI gap down 20 pts due to DJIA +130 drop

I know I cannot get out at this prices so waited till market rebounded and got out at 1360.5.

Loss -9 pts.

2:21 pm - Long 1369.5 after MACD cross up

Stop loss at 1358.0

10:41 am - FKLI for June contracts gap up at this point

FKLI MACD cross up due to gap up is not a good probability trade.

9:36 am - DJIA +116 cause the FKLI to gap up on low volume.

I do not think FKLI can sustain higher on lower volume. Look to short at this point.

10:42 am - Trade #8 stopped out 1332.0

Loss of -5 pts.

9:44 am - FKLI MACD cross up - Long at 1337

Stop loss at 1320.0

11:13 am - Short position is stopped out 1310.5

Profit +29.5 pts.

3:33 pm - Trail stop to 1333.5

2:41 pm - Short FKLI at 1340

Stop loss now at 1344

3:44 pm - Long at 1356 for Trade #6

Stop loss at 1345.0

9:58 pm - FKLI MACD had crossed down

Looking to short below 1347 with a long black bar.

12:54 pm - Mkt getting volatile. MACD did cross down but ...

MACD move back up again, I think this is setting a short position soon.

4:03 pm - FKLI shot back up and stop out at 1354

This is a big loss this around - 10.5 pts.

4:24 pm - Trade #4 is stopped out at 1350.5

Stop out with loss -8 pts.

10:47 pm - Late update : trade #4 is long at 1358.5

Stop loss now at 1350.0

4:34 pm - Short trade got stopped out at 1341.

Profit +8 pts.

2:41 pm - FKLI gap down and sell down to 1335.5 low

Stop loss at 1348.0

12:06 pm - Trade #3 is triggered short as MA is dipped below 50MA

Short at 1349 and stop at 1359

10:57 am - Due to volalitity of market, trade #2 is stopped out at 1356

Loss -7.5 pts.

3:21 pm - Trade #2 is long 1363.5

Stop loss at 1356.0

2:43 pm - FKLI is trading sideway

It is difficult to trade now. The market maybe moving sideway.

10:31 am - FKLi did cross up but no 7 bar line

If it takes out 1353.5, I may consider it.Else it maybe sideway.

11:59 pm - Stop out at 1338.5

I will get the top but I get a slice of the body +11.5 pts.

9:58 am - Trail stop to 1337.5

4:15 pm - Trail stop to 1321.0

10:32 am - Long at 1327.0

Stop loss at 1315.5

10:51 am - Trade #20 stopped out 1310.5

Loss of 8 pts.

3:45 pm - FKLI MACD cross over - Long for trade 20

Long 1318.5. Stop loss at 1310.5

4:38 pm - Stop triggered at 1275.5

Profit +15.5 pt

3:01 pm - FKLI hits 1257 low

Trail stop to 1275.5

2:40 pm - Trail stop to 1281.5

10:38 am - I heard there is another round of selling in the China Market.

The price reflects before the news ! Prices first then news !

Trail stop to 1285.0

9:41 am - Ready to turn short now as it cross below 50MA

Short at 1291.0.

Stop loss at 1305.5

11:22 am - FKLI MACD had crossed down

Wait for 50MA before shorting.

12:03 am - all time 35 years high at 1322.91

It is interesting to note that the mkt is registering new high but selldown by futures.

Profit taking activities are now for the time being.


KUALA LUMPUR, April 17 (Bernama) -- The Kuala Lumpur Composite Index (KLCI)hit a new all-time high in early trading with gains seen on mostkey-heavyweights led by Tenaga Nasional, said dealers. The Composite Index (CI) rose 10.52 points to 1,333.43 after 45 minutes oftrading, slightly lower than 1,334.44 as at 9.18 am. It was opened at 1,326.64,up by 3.73 points. The dealers said the CI registered new high on buying of plantation counterson expectations of better earnings following the higher crude palm oil prices(CPO). The KLCI yesterday closed at an all-time high of 1,322.91, a new recordafter hitting 1,314.46 on Jan 5, 1994 at The Second Board Index perked 0.26 of a point to 102.87 and the Mesdaq Indexwas almost flat at 142.09, or up by 0.06 of a point. The Industrial Index rose 15.32 points to 2,603.58 and the Finance Indexjumped 32.41 points to 10,609.7. The FBMEmas gained 79.81 points to 8,963.29 and the FBM30 rose 94.16 pointsto 8,509.79. Gainers led losers by 442 to 214, while 292 counters were unchanged, 432untraded and another 33 suspended. Trading was moderate with 479.085 million shares worth RM535.231 millionchanging hands. -- MORE

12:01 am - Stop triggered at 1321 pts.

Profit +9 pts.

11:50 am - Trade #18 is long at 1312.

Trail stop loss to 1304.5

10:16 am - Trade #17 is triggered short at 1292.0

Stop loss at 1296.0

10:21 am - Waiting for the next trade - MACD to cross over.

10:14 am - Trade #16 is out at 1298

Profit +53

4:40 pm - Trail stop to 1275.0

Trade is in the money.

4:37 pm - Trail stop to 1268.0

2:40 pm - Trail stop to 1264.5

Trade is deep in the money.

9:47 am - Trail stop to 1261.0

4:05 pm - Trade #16 is triggered long at 1245

Stop loss at 1237

4:05 pm - Stop out at 1230

Loss of 5 pts.

3:02 pm - Short FKLI at 1225

Stop loss at 1230.0

2:58 pm - FKLI turn down and selldown after lunch

The mkt gap down but I got out at 1238.5 before the selldown to 1212.0

FKLI has turned down. Looking to go short now.

2:03 pm - Stop trigger at 1238.5

Profit +9.5 pts

6:06 pm - trail stop to 1222.5

7:37 pm - FKLI April contract long 1229.0

Stop loss at 1214.5

12:36 noon - FKLI April is looking good for a long position

Wait for confirmation when MACD cross over.

12:30 noon - Iran strikes US Navy and our cash mkt drops !

The FKLI is down -37.5 pts now.

12:05 noon - FKLI has crossed down since 23 Mar

Finally, FKLI is trading below 50MA and I am interested to short now.

12:04 am - Cash break down at 12 noon & if it close lower than yesterday low

This is a short trade opportunity !

5:59 pm - Trade is stopped out at 1234.5

Loss of -0.5 pts

12:00 am - Trail stop to 1233.5

11:30 am - FKLI move stop to 1128.5

10:40 am - Trail stop to 1220.0

9:18 am - Waiting for MACD to cross up but....

MACD shud cross up in the next hrs or so but it failed the 7 line change at 1164.5.

To go long, FKLI has to overcome resistance of 1164.5

9:18 am - Short position stopped out yesterday at 1133.5

Biggest loss so far -17.5 pts.

10:17 am - Trade #12 shorted at 1116

MACD cross down and below 50MA. Stop loss at 1141.0

9:51 am - Trade #11 stopped out at 1169

Loss of 3 pts.

11:04 am - Trade #11 is triggered long at 1172

Stop loss at 1153.

5:06 pm - Stopped out at 1115.5

Profit +15.5 pts

9:19 pm - Trail stop to 1087.5

10:45 am - MACD cross up - Went long at 1100

Stop loss at 1066.25

3:31 pm - Stopped at 1078.5. In morning and out afternoon

Profit +21.5 pts.

1:06 pm - MACD cross down and short at 1100 for trade #10

Stop loss at 1111.5 now.

3:36 pm - FKLI MACD cross over but there was no line change.

You have to wait for the line change to take out the high at 1153.5 to go long.

10:13 am - FKLI is holding up. Wait for MACD to cross up

Rather than buying on breakout. Buy on pullback at 50% when MACD had crossed. That way, your risk is smaller.

11:27 am - FKLI for Mar MACD crosses up but cannot take out the high of the yesterday

To go long, you need FKLI to take out the high 1190. Else no trade at this stage.

ATR is 19 pts. So, your stop is around 47.5 pts.

Too much for me.

So stay out ! else switch to shorter time frame e.g. 15 mins or 30 mins.

10:29 am - This is truly an eventful days

DJIA falls off by 400+ and wipe out USD 600 and now FKLI down for another 43 pts at 10.30 pm.

The ATR is 13 pts which mean stops are around 25-30 pts per contract. Too much to stomach ! Then stay out of the market until calm restored to determine the next course of action.

The uptrend will be considered broken if we have 5-6 daily bars down. It has registered 3 bars

5:26 pm - Huge selldown on FKLI as expected.

I cut my long position with a small loss and turn short today.

The Iran issues has panicked the market. I do not expect the market has breath and strength to move upward.

Watch for long and at the same time, trade smaller for short position.

5:15 pm - Trade #9 shorted at 1261 this morning.

Trail stop loss triggered at 1224.5. Profit +36.5 pts.

10:16 am - Trade #8 is stopped out at 1275.5

Loss of -3.5 pts.

1:14 pm - Trade #8 is long at 1278

Stop loss at 1270.5

9:55 pm - Trade #7 is stopped out at 1256.5

Profit +18.5 pts.

The FKLI eod chart register a doji candle. A good signal for toppish market.

12:32 noon - FKLI hit 1249

Trail stop to 1236.5

8:47 pm - Trail stop to 1295.5

MKt gap up by 10 pts. Not a good sign.

8:47 pm - Trail stop to 1295.5

MKt gap up by 10 pts. Not a good sign.

4:11 pm - Trade #6 is stopped out at 1230.5

Short covering today led to FKLI close higher.

Long position trade #7 is triggered at 1238. Stop loss at 1255.5

7:57 am - FKLI went under 50 MA, it is a short signal.

Trade #6 was shorted at 1224.0. Stop loss at 1030.5

2:50 pm - At this stage when cash market hits 2.34 billion vol

This is the stage where cash mkt may have climated and reversal is coming soon.

If going long, do small contracts only.

10:09 am - Looking for FKLI today to cross up

So far, the indicators for long is weak and it is not advisable to short either.

Wait for long position.

11:34 pm - Trade #5 is stopped out today at 1229.5

This is the biggest win so far with 4 contracts +52.5 pts per contract.

3:20 pm - Trail stop to 1125.5

8:46 pm - Trail stop loss to 1214.5

8:41 pm - FKLI Feb hits high at 1208

Current stop loss at 1198.0

12:17 pm - Rollover trade #5

Jan contract closes at 1182 and bought Feb contract at 1177.

Jan contract profit +8.5 pts.

Stop loss for Feb contract 1194.0

12:04 am - Trade #5 is triggered long at 1173.5

stop loss at 1167.5

8:22 pm - Trade #4 is out at 1173

Profit +23 pts.

2:35 pm - Long Trade #4 at 1150

Stop loss at 1142.5

4:05 am - Waiting for FKLI to cross up before taking some more position.

1:01 pm - Trade #3 is stopped out at 1136.5

Loss -3 pts.

Trade #3 is triggered long this morning. Enter at 1139.5

Stop loss now at 1133.5

Trade #2 is stopped out at 1122.5

Profit +15 pts.

9:51 am - Trade #2 was triggered long yesterday at 1107.5

Stop loss at 1116.5

10:14 : Here are the results of the last 20 trades

Trade date begin : 22 Aug 06
Trade date end : 2 Jan 07

Size of contract : 3
No of trades : 20
Net Profit : RM 22,165
Average win per trade : RM1,847
Average loss per trade : RM 343
Largest loss : RM 915
Largest win : RM 4,410
% of Winnings = 60%
Profit Factor = 10.11
Reward/Risk = 5.38

10:02 am - Trade #1 triggered short at 1103.

Stop out within the same day at 1097.5. Profit +5.5 pts.

8:51 am - FKLI cannot break higher than 1120.5 for today.

From the outlook of chart, we may have reached at resistance at 1128.5 despite what the experts are saying how bullish it is.

3:43 pm - Waiting for the MACD to tell if I shud go long or short.

The daily candlestick is bearish after registering a doji bar yesterday. If today bar closes below 1115.5, the trend is bearish on short term.

3:32 pm - Trade #20 is stopped out at 1114.5

Profit +10 pts.

1:12 pm - FKLI Jan cross over at the opening.

Long at 10 am at 1104.5. Stop loss now at 1102.0