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.

1:22 pm - FCPO looks like it had a reversal - It is downtrend from now.

Here is the FCPO daily charts.

11:23 am - FKLI drop further. Looking for a suitable location to short more !

10:29 am - Decreasing volume as the FKLI goes higher

Looking at this 15 mins chart, the current bar is looking toppish. An opportunity to short in the short term - intraday trading.

9:51 am - FKLI trading at 12 pts premium. KLCI is taking a big hit today !

Our FKLI is in the money.

9:21 am - Wow ! I thought FKLi will gap down to 1494 but instead 1488

It is down to low 1482.5. Either hold or take profits on FKLI.

5:43 pm - Hang Seng is at support 26,000 but looking to break down following DJIA downtrend

5:13 pm - A beautiful and classical pattern for Short

This is the pattern I taught in my 3 days course for establishing short.

4:23 pm - FKLI has trending down nicely.

3:06 pm - Next support for FKLI @ 1507/1510

2:57 pm - US recession confirmed ?

US economy heading for a recession - Standard Chartered SINGAPORE (Thomson Financial) - The US economy is heading for a recession and the downturn is expected to last until next year, the chief economist for Standard Chartered bank said Tuesday. A US slowdown will hurt Asia's export-led economies but the region is in a better position to cope with the situation because of its huge currency reserves and improved finances, Gerard Lyons said. "The US economy in our view is heading into a recession," Lyons said at a conference organised by the London-based bank. Unlike previous US recessions which typically last 10 to 11 months, Lyons said the world's largest economy will stay weak into next year. The Federal Reserve will cut interest rates to 3.0 percent by June to shore up growth, he said. In his view, "they should go even lower," said Lyons. While Asia's economies are still reliant on the US, the region is seen as boasting significantly bigger currency reserves and better fiscal positions, which should soften the impact of a US slowdown, said Lyons. "Basically there is a lot more room to respond to any downturn," he said, referring to Asia's ability to cope. Standard Chartered is forecasting the US economy will grow 0.5 percent this year. Other major financial houses including Goldman Sachs and Merrill Lynch have also tipped a US recession. "The recent data suggest that the US economy is falling into recession," Goldman Sachs economists said in a research note last week, noting that the impact of credit and housing woes is already being felt. Goldman Sachs said it expects the Fed to cut interest rates aggressively, bringing the federal funds rate from the current 4.25 percent to 2.5 percent by late 2008.

2:40 pm - FKLI did selldown after lunch and break down to 1515.5

Support at 1518 has been broken ! Our short position is in play !

11:57 am - FKLI broke down and support at 1518.0

11:43 am - FKLI did break down at 1526.0

11:12 am - FCPO - Insiders are taking profits after +130 pts up yesterday.

11:10 am - Let's see if FKLI can break downward after lunch !

FCPO is down today.

10:20 am - FKLI is forming a triple top which is difficult to break.

9:59 am - FKLI gap up due to DJIA but now is looking not good.

Forming a double top with toppish pattern. This is a background to start your short position.

5:36 pm - FKLI rush to close higher @ 1522

5:33 pm - FCPO broke new record high @ 3400

4:56 pm - FCPO newsletter - Again only few person took notice of my newsletter to go LONG at 3345.0

4:02 pm - FKLI break lower and break support of 1516

Took profits on all long positions and turning short now.

3:24 pm - FKLI building a base here at 1518/1520.

Only if FKLI can break 1517/1516, wud the FKLI go down. Else to go down, FKLI wud have to gap down due to DJIA overnite -200 pts.

2:37 pm - FKLI gap down. If it can close the gap, it may go higher.

11:00 am - FCPO cannot break above 3280/3300 and instead gap up to 3330/3340 range.

10:38 am - FCPO breaks higher @ 3337

Some clients took over 100 pts profits for FCPO. Remember allow 40 pts for FCPO.