Friday, March 21, 2008
9:51 am - DJIA register high volume last nite. This maybe a reversal for DJIA.
Note the last high volume we had and we had a reversal bar.
Wednesday, March 19, 2008
7:55 pm - US stocks heading for lower open
NEW YORK (AP) - U.S. stocks were poised to open lower Wednesday asinvestors grew more cautious about the banking system and prepared to takeprofits following Tuesday's pop on Wall Street. On Tuesday, the Dow Jones industrial average shot up 420 points after theFederal Reserve cut its key interest rate by three-quarters of a percentagepoint. Investors were relieved as well to see two investment banks -- LehmanBrothers Holdings Inc. and Goldman Sachs & Co. -- report better-than-expectedquarterly profits. But Morgan Stanley's earnings are on tap Wednesday, and the rest of WallStreet is going to want to see if the investment bank is relatively healthy likeLehman or Goldman, or at risk of failure like the recently bought out BearStearns Cos. A pullback was to be expected given the magnitude of Tuesday's gain andinvestors' concerns about the many unknowns that remain not only about thefinancial sector, but the overall economy as well. Dow Jones industrial average futures fell 65, or 0.52 percent, to 12,340.Standard & Poor's 500 index futures fell 8.30, or 0.62 percent, to 1,325.70,while Nasdaq 100 index futures fell 10.0, 0.56 percent, to 1,761.0. Bond prices rose. The yield on the benchmark 10-year Treasury note, whichmove opposite its price, fell to 3.40 percent from 3.50 percent late Tuesday.The dollar was mixed against other major currencies, while gold prices fell. Light, sweet crude fell 87 cents to $108.55 per barrel in premarketelectronic trading on the New York Mercantile Exchange. Late Tuesday, Visa Inc. launched the largest initial public offering in U.S.history, selling 406 million shares at $44 each to raise $17.9 billion. Theworld's largest credit card processor -- unlike Discover Financial Services,which releases earnings on Wednesday, and American Express Co. -- is not alender, and many investors are betting that it will easily survive the falteringU.S. economy and credit climate. The Fed has slashed key rates by more than half since last summer, when themortgage crisis claimed its grip on the global credit markets. But the housingand lending industries are still hurting. The government is expected on Wednesday to loosen the capital restraints onmortgage-finance companies Fannie Mae and Freddie Mac, so they can play largerroles in the struggling housing market. The Office of Federal Housing EnterpriseOversight, which oversees the government-sponsored companies, was announcing theplan Wednesday, people familiar with the matter said Tuesday. Meanwhile, after JPMorgan Chase & Co.'s announcement Sunday that it wasbuying out the troubled investment bank Bear Stearns Cos., French bank BNPParibas SA said Wednesday it is no longer interested in making a takeover bidfor rival, Societe Generale. Societe Generale has been hurting after a roguefutures trader logged $7 billion in losses. Stock markets overseas were mixed after Wall Street's jump on Tuesday.Japan's Nikkei stock average increased 2.48 percent, while Hong Kong's Hang Sengindex rose 2.26 percent. In midday trading, Britain's FTSE 100 slipped 0.98percent, Germany's DAX index lost 0.71 percent, and France's CAC-40 declined0.58 percent. Copyright 2008 Associated Press. All rights reserved. This material may not be
4:41 pm - FKLI recover to try to close higher @ 1164
This is a sad day for the long traders. The market open and selldown.
Tuesday, March 18, 2008
12:32 pm - FCPO limit down today !
For all my days trading FCP0, this is the 1st for me. The market went down 100 pts. in 15 mins.
Monday, March 17, 2008
4:53 pm - FKLI is moving sideway or downward !
FKLI has broken 1150 level already ! This is a short trade.
Saturday, March 15, 2008
10:34 am - Stocks retreat on credit fears
NEW YORK (AP) - Stocks tumbled Friday after a plan to alleviate a liquiditycrisis at Bear Stearns Cos. touched off concerns about the severity of credittroubles. Each of the major indexes lost more than 1.5 percent on the day, withthe Dow Jones industrial average falling nearly 200 points. The plan by the New York Federal Reserve and JP Morgan Chase & Co. offersBear Stearns relief from a sudden liquidity crunch that analysts surmised couldhave felled the bond house. But the company's position on the precipice offinancial disaster left many investors shaken and spoiled some hopes thattroubles in the moribund credit market are on the mend. Stocks showed moderate increases in the early going after a Labor Departmentreport showed the Consumer Price Index remained flat for February. Wall Streethas been expecting inflation would show an increase. But the gains quicklydisappeared after investors learned about the severity of troubles at BearStearns. "This is another chapter in a book rather than a one-act play," said PhilOrlando, chief equity market strategist at Federated Investors. He said themarket is worried that further trouble in the credit markets will emerge andthat the ramifications of the credit strains and a slowing economy could resultin recession. "Investors thought they are probably more than norm than the exception andmaybe this is the tip of the iceberg," he said, referring to Bear Stearns. "Oursense is that this is sort of an amoeba here and this is sort of a broadlyspreading situation." According to preliminary calculations, the Dow fell 194.65, or 1.60 percent,to 11,951.09. The Dow had been down as much as 313 points. Broader stock indicators also declined but pulled off their lows. TheStandard & Poor's 500 index fell 27.34, or 2.08 percent, to 1,288.14, and theNasdaq composite index fell 51.12, or 2.26 percent, to 2,212.49. For the week, the major indexes were mixed, with the Dow showing a modestgain, the Standard & Poor's 500 index slipping and the Nasdaq composite indexshowing no change, finishing exactly where it did a week ago.
Friday, March 14, 2008
5:32 pm - FKLI has a tail means the market does want to go down yet.
We are still experiencing sideway movement for the time being.
10:52 am - FKLI looks like it is trying to form a saucer shape.
There is a lot of support at this level.
10:10 am - KLCI is moving lower as the gap up is not sustainable
If you wish to long, buy at support lower at 1172-1175.0 with a tight stop.
Thursday, March 13, 2008
5:43 pm - FKLI looking to test 1150 level.
If this break 1150, we are in a downtrend. Watch this level.
10:57 am - FKLI selling has stopped.
Short sellers are covering their short position. So FKLI goes up !
10:18 am - FKLI is trying close the down gap.
If the closing of the gap is firm i.e. FKLI closed 1189.0 at the end of the day. This is still a bearish market to come.
9:24 am - DJIA chart looking bearish yesterday and this cause our FKLI to selldown this morning.
If DJIA closed low tonite , we will see bearish days.
Wednesday, March 12, 2008
3:59 pm - FKLI is moving sideway for the time being !
Although KLCI had reversed to go up, it depends on DJIA tonite to see if there is significant upside left.
Tuesday, March 11, 2008
9:27 am - KLCI registers extreme high volume yesterday !
This maybe a sign of reversal for KLCI. Can it go up today ! So far it has gone up +19.87 pts.
Think to go long !
Monday, March 10, 2008
3:11 pm - FKLI suspended and KLCI trading suspended due to circuit breaking !
KLCI down for more than 10%.
2:27 pm - Here is the prognosis for FKLI.
Here is a weekly chart for FKLI. The trend is down and will go down more. The next support is at 1100-1100. See chart. If it is broken, we will see CI back to 1000-1050.
The only way to profit to short the market.
A lof of GLC co' will be badly hit in the coming days.
10:01 am - Our server is slow and I cannot post the charts to the blog today !
Bear with me until the network resume its normal speed.
Wednesday, March 05, 2008
5:20 pm - I am out of office until Monday Mar 10, 2008
So, there will be no blog until MOnday morning.
Happy Trading !
Happy Trading !
10:00 am - DJIA may bounce back today. See the tail with the high vol !
Let's see what happen tonite !
Tuesday, March 04, 2008
10:36 am - FCPO is just inches away from 4,500
A level predicted by Mr. Dorab that FCPO will reach at the end of the year - 2008. Instead, FCPO almost hit today followed by a selldown.
Monday, March 03, 2008
4:12 pm - Here is my recommendation to go LONG for FCPO - 4,179
The FCPO hits 4179 and went straight to 4258 high. This is the all time high.
9:55 am - FKLI gap down due to DJIA.
Market move up to hit to all the buy stops at 1308 and above. Weaker now due to HSI -870 down.
Saturday, March 01, 2008
9:16 am - Stocks fall sharply on economic worries
NEW YORK (AP) - Stocks fell sharply Friday after a series of depressingeconomic and corporate reports as well as high oil prices stoked concerns aboutthe health of the economy. The major stock indexes fell more than 2.5 percentand the Dow Jones industrials lost 315 points. Investors were unnerved by disappointing quarterly results from AmericanInternational Group Inc. and Dell Inc. And an index of regional businessactivity that Wall Street regards as a good indicator of a broader report duenext week had its weakest showing in more than six years. Oil prices continued to stir concern about inflation after pushing past $103per barrel for the first time. While stocks made sharp gains in the first three days this week even amidsomewhat lackluster economic readings, the litany of concerns investorssuccumbed to Friday reflected the undercurrent of uncertainty that has kept WallStreet on edge for months. "We really had to face a plethora of negative news," said Art Hogan, chiefmarket strategist at Jefferies & Co. in Boston. "We just ran out of gas thisweek." Hogan said while stocks held up admirably early in the week amid an unevenflow of economic news, they couldn't hold their gains after the latest round ofweak economic signals. The Dow fell 315.79, or 2.51 percent, to 12,266.39. Broader stock indicators also tumbled. The Standard & Poor's 500 index lost37.05, or 2.71 percent, to 1,330.63, and the Nasdaq composite index declined60.09, or 2.58 percent, to 2,271.48. For the week, the Dow lost 0.93 percent, while the S&P 500 gave up 1.66percent and the Nasdaq fell 1.38 percent. The week's losses would have beensteeper had stocks not risen early in the week on hopes many of Wall Street'scredit troubles were easing and after IBM Corp. announced a sizable stockrepurchase plan. Friday's losses sent stocks lower for February, the fourth straight month ofdeclines. Bond prices rose sharply as stocks lost ground. The yield on the benchmark10-year Treasury note, which moves opposite its price, fell to 3.53 percent inlate trading from 3.67 percent late Thursday. The Chicago Board Options Exchange's volatility index, known as the VIX, andoften referred to as the "fear index," jumped 12.8 percent. The dollar hit another low against the euro and slid to a three-year recordagainst the yen. The fall in the dollar has sent prices of commodities such asoil and gold soaring. Light, sweet crude jumped to a record of $103.05 in early electronic tradingbefore settling down 75 cents at $101.84 a barrel on New York MercantileExchange. Insurer AIG announced a $5.29 billion quarterly loss largely because ofsteep declines in the value of a portfolio of contracts known as credit defaultswaps. Such contracts pledge to cover missed payments on debt. The company'slosses caught analysts off guard, as many had expected the company to turn aprofit. While each of the 30 stocks that comprise the Dow industrials showeddeclines, those of AIG were the steepest. The stock fell $3.29, or 6.6 percent,to $46.86. Computer maker Dell posted a 6 percent decline in its quarterly profit,falling below analysts' expectations, and warned that its business could sufferfrom reduced customer spending. Dell slid 97 cents, or 4.7 percent, to $19.90. Bill Schultz, chief investment officer at McQueen, Ball & Associates inBethlehem, Pa., said AIG's report left investors uneasy about the prospect offurther sizable write-downs of bad debt. "Every time we get to a point where we think we've finished, another reportcomes out and says we're not done yet," he said. Schultz expects Wall Street will continue to proceed with "fits and starts"until investors sense that the bad debt from faltering mortgages has beenaccounted for and that balance sheets are on the mend. Some relief for the ailing bond insurance industry is on the way, though thenews didn't dislodge Wall Street's glum mood Friday. Billionaire investor WilburRoss agreed to invest up to $1 billion in Bermuda-based reinsurer AssuredGuaranty Ltd. Assured Guaranty rose $2.87, or 12.6 percent, to $25.65. In economic news, the Chicago purchasing managers index for February came inat 44.5, a weaker reading than the 48.5 that had been expected, according to DowJones Newswires. The report painted a dreary picture of the manufacturing sectorand is seen as a precursor to the national Institute for Supply Managementreport expected Monday. A government report showed that personal spending, when stripping out theeffects of inflation, stood unchanged in January. The findings brought furtherworries that consumers are more hesitant to reach into their wallets amid theuncertainties facing the economy. A parade of economic worries has weighed on consumer as well. TheReuters-University of Michigan final consumer sentiment reading for Februarycame in at 70.8, better than the figure of 69 that had been expected. Still, theindex was well off the level of 78.4 seen in January. Declining issues outnumbered advancers by roughly 7 to 1 on the New YorkStock Exchange, where consolidated volume came to 4.23 billion shares comparedwith 3.76 billion shares traded Thursday. The Russell 2000 index of smaller companies fell 19.54, or 2.77 percent, to686.18. Overseas, Japan's Nikkei stock average closed down 2.32 percent. Britain'sFTSE 100 lost 1.36 percent, Germany's DAX index fell 1.67 percent, and France'sCAC-40 gave up 1.53 percent. ---------- The Dow Jones industrial average ended the week down 114.63, or 0.93percent, at 12,266.39. The Standard & Poor's 500 index finished down 22.48, or1.66 percent, at 1,330.63. The Nasdaq composite index ended the week down 31.87,or 1.38 percent, at 2,271.48. The Russell 2000 index finished the week down 9.25, or 1.33 percent, at686.18. The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted indexthat measures 5,000 U.S. based companies -- ended Friday at 13,455.96, down207.07 points, or 1.52 percent, for the week. A year ago, the index was at14,271.61. Copyright 2007 Associated Press. All rights reserved. This material may not be
Friday, February 29, 2008
10:12 am - FKLI gap down due to DJIA
All regional market is below 200MA. Our KLCI and FKLI is at this junction - just below 200MA. I believe we will dip below 200MA.
Thursday, February 28, 2008
2:53 pm - FKLI is testing the 200 MA again.
There seem to be some support. The montly rollover is distorting the price and volume.
Await confirmation.
9:34 am - FKLI gap down due to weakening DJIA
If KLCI or FKLI drop below 200MA, we may have a setup for a SHORT position.
Wednesday, February 27, 2008
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