5:08 pm - FKLI closed within a rande. It had to break out 1409 to convince it can go upside.

4:30 pm - Looking at the DJIA, the chart looks like an upthrust

We have to wait for tonite to confirm.

3:08 pm - Daily Pivot at 1390 is acting as a resistance.

If it can break 1390 and above, the FKLI can go higher.

11:57 am - FKLI is ranging after the news from US FOMC is neither dissappointing nor surprising !

Trade the FKLI when KLCI break out of the sideway movement at 1400 for upside and downside at 1375.

9:53 am - FKLI has a support at 1373

If this break 1373, the FKLI will go down.

5:55 pm - FKLI not going anyway except sideway.

4:05 pm - If KLCI close with a wide range bar, this is a bearish pattern.

3:53 pm - FKLI selldown due to Hang Seng stop out our long position.

1:02 pm - FKLI selldown !

Malaysian shares end morning slightly lower on caution about US economy

KUALA LUMPUR (Thomson Financial) - Malaysian shares were slightly lower at the end of the morning session Wednesday, erasing earlier gains as persistent concerns about the US economy led cautious investors to take profits. The market had started firmer, tracking the overnight gains on Wall Street on hopes the Federal Reserve will cut interest rates again at the end of its two-day meeting later in the day. Mining-related stocks and select blue chips gained but failed to provide enough support to the index. The Kuala Lumpur Composite Index finished the session down 1.07 points or 0.1 percent at 1,387,43, off a high of 1,400.90. The FTSE Bursa Malaysia 30-large cap index lost 18.79 points or 0.2 percent to 9,098.79 while the FTSE Bursa Malaysia second board index shed 61.26 points or 0.9 percent to 6,491.56. Decliners led advancers 421 to 204, with 238 stocks unchanged and 526 counters untraded. Trading volume was 379 million shares, valued at 848 million ringgit. (1 US dollar = 3.23 ringgit)

11:04 am - FKLI Feb Contract is at its pivot point.

If Feb contract breaks its pivot at 1390/1389, FKLI will go down further.

10:27 pm - FKLI trades sideway !

However, on our shorter timeframe the FKLI is moving up. We have gone long today !

5:52 pm - FKLI closed slighty up 1.5 pts.

Generally, if FKLI gap up, short and vice versa.

12:49 pm - FKLI is trading between pivot point 1402.0 & 1380.0

9:48 am - FKLI gap up due to +170 pts up by DJIA.

TG indicates weakness on the intraday charts.

However, with the 50 basis pts cut in interest rate by US FOMC priced into the market, the market may hold. Unless the basis point is below 50 basis pts, the market will fall.

9:15 pm - Lower crude oil means lower palm oil prices ???

Oil continues lower below 90 usd mark on economic slowdown fears LONDON (Thomson Financial) - Oil prices continued to trade down below the 90 usd mark heading into the afternoon in London, as lower stock markets again sparked fears of an economic slowdown denting demand for crude. "Financial markets in Europe and Asia fell lower following comments by Goldman Sachs who said the Japanese economy has probably fallen into a recession already," said Nimit Khamar at Sucden. "The economic problems in the US and Japan will be a major concern for the oil market given that they are 2 of the 3 largest consumers of oil". At 12.48 pm, New York's WTI crude for March delivery was down 1.34 usd at 89.37 usd per barrel. In London, Brent crude for March delivery was down 1.04 usd at 89.86 usd per barrel. Prices have declined by over 10 pct since hitting an all time record high above 100 usd a barrel in the early days of the New Year. While weakness in stock markets has weighed on the demand outlook, it has also forced the liquidation of many long speculative positions in crude, as funds scramble to cover losses on falling equities. "According to the US Commodity Futures Trading Commission the speculative net long position fell by 56 pct from the week before, which is a concern for those oil bulls as hedge fund money has been a key driver to prices surging so high," said Khamar at Sucden. Oil has tracked volatile equity markets in recent weeks but some predict that the focus is soon to turn to OPEC's meeting on Friday, where the cartel is widely expected to leave production unchanged. All 27 analysts polled by Thomson Financial News expect OPEC ministers to decide against an output increase. OPEC ministers have consistently argued that oil's rally up to the 100 usd mark was fuelled more by speculators in the market rather any tightness of supply, reducing the likelihood the cartel will up production, according to Bank of Ireland analyst Paul Harris. "As the stock markets have fallen, margin calls and flight to liquidity have seen long oil positions unwound. This adds substance to the long held view by OPEC that the price appreciation has much to do with speculation rather than supply constraints. The probability is that there will be no change in production quotas." With real concerns over the state of the economic outlook still dominating moves in oil, some market watchers have started to flag the slight possibility of an OPEC production cut. "Some (OPEC ministers) are already talking about a cut, and we are sure that Venezuela and Iran will be leading the charge," said Peter Beutel, president of Cameron Hanover. "OPEC usually cuts output in March or April and global demand typically does make its low in those two months. If one throws in a risk of recession, the argument is complete". Weakness in the US dollar has seen many OPEC members become more hawkish on price, as oil revenues and currency reserves have taken a blow, analysts said. The risk to the cartel is that another spike in oil prices back towards the 100 usd mark could tip struggling economies into recession, ultimately denting demand for crude and encouraging further investment into alternative fuel sources. While prices have retreated from their record highs, they still remain at historically elevated levels. Before September of last year, prices had never closed above the 80 usd mark. d.sheppard@thomson.com ds1/ds1/jlw

9 pm - DJIA faces a resistance at 12,500

US stocks tilt lower after global selloff NEW YORK (AP) -

Wall Street looked to open lower Monday following heavy selloffs on Asian and European exchanges. The global equities selloffs were linked to concerns that there may be more massive write-downs by global banks for subprime loan losses and worries that the Federal Reserve may not cut interest rates as much as investors would like when it ends a two-day meeting on Wednesday. These problems also weigh on U.S. investors' and should pressure stocks at Monday's openings. Dow Jones industrial average futures were down 48 points, or 0.25 percent, at 12,188. Standard & Poor's 500 futures were off 7.1 points, or 0.19 percent, at 1,322.90 and Nasdaq 100 futures down 18 points, or 0.99 percent, at 1,775.5. A series of events this week, including expected references to the economy in President Bush's final state of the union address Monday evening and the Federal Reserve's interest rate announcement, are expected to influence trading. The Fed dropped rates by 0.75 percentage point last Tuesday, and another rate cut is expected this week. Hopes for a very large cut, however, have been tempered by a revelation by French bank Societe Generale last week that it sold European index futures to close a position taken by an alleged rogue trader. It is now thought that those trades may have been a substantial part of the reason that global indexes suffered massive losses one week ago when U.S. markets were closed. New data reports Monday will give clues into the state of the housing market and corporate spending levels. Sales of new homes last month are expected to decline to 625,000 from 647,000 in November, according to a poll of economists by Thomson/IFR. The Commerce Department's durable goods report for December is expected to rise by 0.5 percent, which would be up from 0.1 percent the month before, according to Thomson/IFR. Overseas markets fell Monday amid continuing economic concerns and also in response to Friday's decline on Wall Street. In Tokyo, the Nikkei stock average dropped 4 percent and in Shanghai, plunged 7.2 percent. European bourses also were largely under pressure, as London's FTSE 100 fell 2.05 percent, Frankfurt's DAX gave up 1.71 percent and Paris's CAC 40 lost 2.30 percent. In corporate news, Sears Holdings Corp. said its chief executive, Aylwin Lewis, will resign from the department store chain on Feb 2. He will be succeeded by W. Bruce Johnson, executive vice president of supply chain and operations on an interim basis. Last week, Sears said it would change its organizational structure in an effort to improve performance. Troubled mortgage lender Countrywide Financial Corp. is back in the news. Chairman and chief executive Angelo Mozilo is going to forfeit $37.5 million in pay and benefits. Mozilo was widely criticized for collecting massive pay at a time when millions of Americans may be forced into foreclosure. Copyright 2007 Associated Press. All rights reserved. This material may

5:30 pm - FKLI closed and rebound higher back to 1383

The short trade for today is closed !

2:56 pm - FKLI gap down !

The FKLI has broken the support at 1373.0. We are in bear terriority.

11:54 am - If FKLI breaks 1373, this wud look like a short trade !

10:32 am - FKLI gap down due to DJIA falling last Friday !

All of our long position is out !

FKLI is holding at this level !

4:53 pm - FKLI driving higher !

11:13 am - FCPO has a support at 3231

9:31 am - FKLI responding well to DJIA +100 pts up

FKLI gap up. Our stop is not hit yet !

6:04 pm - FCPO has a bullish engulfing pattern.

Very bullish pattern.

5:41 pm - FKLI discount is very bearish at -23.5 pts

The gap will close when we close next Thursday !

2:57 pm - FKLI has a support at 1389.5

9:43 am - There is a lot of short covering today !

Short sellers that had shorted the market before Thaipusam had to cover their position by buying.

This maybe a dead cat bounce !

9:39 am - DJIA has a good support at 11680. If this support, DJIA may rally from today !

10:44 pm - At the early trading of DJIA, the market has fallen -380 pts.

All supports have been broken !

5:19 pm - FKLI forms a bottoming tail !

However, the downtrend is not over yet !

3:11 pm - FKLI gaps down but buy up after lunch !

This maybe an opportunity to go short. But tomorrow is a public holiday. Dare to hold overnite and over holiday.

12:38 noon - FKL is free falling

Chart read'g does not work today ! Just short !

11:14 am - FKLI is moving sideways - congesting here.

Wait for the lunch ! After lunch, FKLI may gap up or down. No way of telling it.

9:36 am - All supports are broken very easily !

Chart reading becoming very difficult as many of the up and down in FKLI depends on regional - Hang Seng, Nikkei and DJIA.

Some of the clients who heed the SHORt position from my newsletter took a handsome profit today.

5:21 pm - Another heavy selling today !

next support at 1360.0

4:58 pm - It pays dividend to trade the newsletter recommendation to short at 1400 today !

Short if it break S1 @ 1400.0

FKLI break 1400 so easily. The election mini rally maybe over.

4:38 pm - Whenever KLCI breaks the 72%, it is going to bad !

4:18 pm - My newsletter recommends SHORT at 1400

4:09 am - FKLI has broken 1400 and down.

Looks like the FKLI 100 pts. up from 1400 to 1500 for the elections maybe over as it has tumbled down today !

3:13 pm - FKLI reacting very badly to Shanghai fall after lunch !

Mkt free falling to 1400

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9:54 am - FKLI too is congesting without any leads.

The next best news is the elections annoucement and this may be the "good bye" rally.

2:30 pm - FKLI cannot hold to its lead and many players are sellin/closing their positions over the long weekend !

Volume is high. I do not think this is the low yet !

12:44 pm - FKLI can go down lower to 1413 at 72% retracement

The trend lines have been broken down. I expected the next two daily bars to either go sideways or up to maintain the uptrend. Else, it does not look good. EPF has to come to support the market.

US is coming up with an economic stimulus package so the market may hold. Once the news is out and over, I think ppl will sell to the weakness.

11:53 am - Got out of our long position.

Got out too early or exit for our long position ! The FKLI may move sideways pending on news on US economic stimulus package.

You win some and lose some ! That's trading.

9:20 am - FKLI gap down due to DJIA -300 pts.

Looking for a good position to close our long position last nite.

5:44 pm - FKLI closed with a beautiful doji !

Can this be a reversal pattern ?

4:21 pm - FKLI on a daily basis is very beautiful and with high volume.

This looks like a bottoming tail and if FKLI cannot break the low of 1429, we may see a resume of uptrend or sideway movement.

10:05 am - FKLI maybe a dead cat bounce !

However, if it breaks higher, we may go long. At this stage, maintain short position.

5:06 pm - FKLI is surely bearish. One for the record down -65 pts.

4:45 am - I admit one cannot judge the low of the market

But one has to be content with the profits that one has . Wow ! FKLI gone so low.

4:19 pm - FKLI is so tempting to short because of the breakdown but it is too low at this point.

Maybe let's wait for tomorrow. Interesting, FKLI has turn discount to KLCI for the 1st time. FKLI market is truly in a bearish phase.

2:44 pm - Panic selldown ! This is a time for going LONG.

KLCI has a support 1449/1450.0

1:42 pm - FKLI has broken to low to 1470.0

My newsletter recommendation to GO Short at 1475.0. How many of you follow this recommendation to short at 1475.0 ? I wonder.