Normal 50% retracement is 1160.0.
FKLI can go up some more to 1160.0
Monday, July 14, 2008
2:59 pm - FKLI is rebounding back after sold off from this morning !
Short for some clients this morning and taken profit already !
11:55 am - KLSE outlook by Bill Wermine
Dear Traders,
Oil bubble on the brink of major bust. Demand is falling while supply is increasing. Bush and his chronies will hold up the price until the US November general elections for his final squeezing of Joe Public before he retires rich to his ranch in Texas. The speculators are part of his game plan as they amass huge fortunes in long positions in energy futures contracts. In 2003 speculators held USD 13 billion and now in 2008 USD 260 billion in energy futures contracts. When buyers are exhausted, expect a massive collapse.
Bush with his power has resisted regulations to control the speculators but when he loses the general election, Obama who is not supported by the oil industry, Wall St Banks and institutions, may pull the plug and precipitate a bust. Obama is not a friend of the speculators and Wall St banks as his support base is much wider and more popular based. Bush's power base is the super rich, the connected, oil companies, defense contractors and the insiders who control the Wall St banks and institutions
Obama's win could be supportive of stock markets worldwide. Refer to Martin's attached KLSE report.
On Saturday 19 July we will have our monthly Traders Club at my office at Phillip from 10 to 1 PM. Agenda includes a technical outlook for crude oil/ Dow Jones/ and the Aussie Dollar by Fund Manager Andy Lim- a KLSE outlook by Pong, who is now the research director of Jupiter securities, and a my final briefing on Man Alternative investment before the 31 July closing date. This briefing will include a short video clip by Robert Kiyosaki which exposes how the financial establishment manipulates the herd of sheep investors to strip them of their hard earned savings and wealth. I will also explain the 4 % sales charge rebate we enjoy for the new fund launch
As seats in Phillip training room are limited,please let me know if you wish to come .
Have a profitable week ahead
Bill
Oil bubble on the brink of major bust. Demand is falling while supply is increasing. Bush and his chronies will hold up the price until the US November general elections for his final squeezing of Joe Public before he retires rich to his ranch in Texas. The speculators are part of his game plan as they amass huge fortunes in long positions in energy futures contracts. In 2003 speculators held USD 13 billion and now in 2008 USD 260 billion in energy futures contracts. When buyers are exhausted, expect a massive collapse.
Bush with his power has resisted regulations to control the speculators but when he loses the general election, Obama who is not supported by the oil industry, Wall St Banks and institutions, may pull the plug and precipitate a bust. Obama is not a friend of the speculators and Wall St banks as his support base is much wider and more popular based. Bush's power base is the super rich, the connected, oil companies, defense contractors and the insiders who control the Wall St banks and institutions
Obama's win could be supportive of stock markets worldwide. Refer to Martin's attached KLSE report.
On Saturday 19 July we will have our monthly Traders Club at my office at Phillip from 10 to 1 PM. Agenda includes a technical outlook for crude oil/ Dow Jones/ and the Aussie Dollar by Fund Manager Andy Lim- a KLSE outlook by Pong, who is now the research director of Jupiter securities, and a my final briefing on Man Alternative investment before the 31 July closing date. This briefing will include a short video clip by Robert Kiyosaki which exposes how the financial establishment manipulates the herd of sheep investors to strip them of their hard earned savings and wealth. I will also explain the 4 % sales charge rebate we enjoy for the new fund launch
As seats in Phillip training room are limited,please let me know if you wish to come .
Have a profitable week ahead
Bill
9:17 am - FKLI reacting to the DJIA and political situation in Parliment today !
If FKLI can go higher than 1146.5, I assume the uptrend is halted by selling at this area.
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