Friday, April 04, 2008
12:31 noon - Can DJIA break 12,800 tonite ?
If you look at the 240 mins chart of DJIA, it has to register huge volume for the breakout above 12,800 tonite. For the last 2 attempts for breakout, the volume is significantly low. On the other hand, the big players is more willing to support the market when it drops, judging from the DJIA when it tries to test lower @ 11,800.
11:06 am - FKLI is mushrooming down gentlely.
This is a good sign for SHORT position. Our KLCI market is weak.
9:21 am : FKLI zoom up to 1227 and form an upthrust.
Hang Seng Hong Kong market is closed for Cheng Beng Holiday. So no influence from Hang Seng.
Our FKLI is likely to move by itself or sideway movement.
TG in short term indicating no demand. Maintain short position. Stop loss at 1230.0
Thursday, April 03, 2008
5:42 pm - FKLI has a daily SHORT signal today for double EMA crossdown @ 1210-1215.
So for the EOD traders for FKLI, they will be shorting FKLI tomorrow if DJIA closes lower tonite.
3:10 pm - After lunch, FKLI pullback to 1227 and beginning to trade downward again to 1220.0
FKLI market has to go into discount before cash market before end of the day.
10:07 pm - Bill and myself will be conducting the Master the Markets : Foundation Course, April 7,8, 2008
There are few seats left in this investing and trading course in KLSE stock market. Bill will conduct the 1st day training on the foundation to trade KLSE stock market successfully. I will cover MetaStock software and some futures trading technique on Day 2. If you are interested, pls contact Dolly at 03 4252 4149 for registration or email me for queries at martin.wong@cimb.com
9:13 am - FKLI gap down and starting to trend up !
Our short position is still in place with stop loss at 1242.5.
Wednesday, April 02, 2008
9:19 pm - Wall Street stocks to rally at opening
NEW YORK (AP) - Wall Street was poised to rally once more at Wednesday's opening ahead of Federal Reserve Chairman Ben Bernanke's scheduled addressbefore Congress. The stock market on Wednesday may benefit again from an improvement insentiment that drove a massive rally in the prior session when investors cheeredaggressive recapitalization efforts underway at major banks. Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares tohelp bolster their balance sheets. Investors at the start of the second quarter seem more willing to look pasttight credit markets and the troubles of financial firms that plagued the firstquarter. Bernanke will testify about the health of the economy to Congress. As usual,investors are hoping he will drop some hints as to whether the central bankplans to continue its aggressive interest rate cutting program. However, they also will want to know how weak he considers the economy tobe. Numerous economists have said they believe a recession is under way.However, Fed officials generally are cautious when describing the economy. Arecession consists of two consecutive quarters of economic contraction and canonly be declared in hindsight. In addition, investors will be curious to see if Bernanke offers anyinsights into the Fed's role in aiding JP Morgan Chase & Co.'s purchase of BearStearns Cos. and whether he believes the credit crisis is nearing a conclusion.The Fed chairman is set to begin speaking as the market opens at 9:30 a.m.Eastern time. Government data on factory orders in February is due at 10 a.m. Eastern.According to Thomson/IFR, there should be an unchanged level of orders inFebruary, following a January decline of 2.5 percent. The futures contract for the Dow Jones industrial average rose 50 points, or0.4 percent, to 12,677. Futures contracts for the Standard & Poor's 500 gained5.20 points, or 0.5 percent, to 1,375.80 and Nasdaq 100 futures rose 9.8 points,or 0.6 percent to 1,867.5. Wall Street began the second quarter Tuesday with a boisterous rally asinvestors rushed back into stocks, optimistic that the worst of the creditcrisis has passed and that the economy is faring better than expected. All themajor indexes were up more than 3 percent. Tokyo's Nikkei index closed up 4.21 percent. There were gains on Europeanbourses too, with London's FTSE 100 rising 0.08 percent, Frankfurt's DAXadvancing 0.31 percent and Paris' CAC 40 gaining 0.23 percent. Copyright 2008 Associated Press. All rights reserved. This material may not be
5:23 pm - FKLI closed down -19 pts at the end while open +30 pts at the opening
This is one end of a see saw today for FKLI with range of 51 pts.
9:51 am - If DJIA breaks 12,700, this wud be the 3rd time.
3rd attempt and successful breakout above 12,700 denote DJIA to be back into the BULLISH mode. If this is the case, our KLCI wud follow soon - turning Bullish.
9:33 am - FKLI is sliding down to R1 @ 1255.0
If it break R1, this is good for short position. It is holding up at 1255 nicely at 9.30 am.
9:14 am - Lot of short covering this morning due to DJIA +391 pts up
FKLI market gap up due to sellers covering their short position by buying higher. However, our FKLI market is weak. Let's see if the market wud fall down in the afternoon.
Tuesday, April 01, 2008
5:21 pm - FKLI has a support at 1220 and resistance 1260
FKLI closed well (+2.78 pts) despite a bearish day. If DJIA closed well tonite, there will be gap up.
4:40 pm - Notice of Intraday trading rate for FCPO - Crude Palm Oil
With respect to intraday risk of trade execution for crude palm oil futures
we would revise our intraday rate (round turn) to RM80 effective 1 April 2008.
Overnite rate remained unchanged.
Kindly take notice.
- Martin & Li Ling -
we would revise our intraday rate (round turn) to RM80 effective 1 April 2008.
Overnite rate remained unchanged.
Kindly take notice.
- Martin & Li Ling -
2;53 pm : Possible reason for gap down for FKLI after lunch !
CPO drop almost -10 % and during lunch, traders and investors talk about how bad the CPO market is bad. Bad CPO prices, bad plantation counters = lead to lower KLCI.
After lunch, the fund mgrs and retail investors quickly sell their shares or futures which in turn give to lower prices.
For those traders who were long on FKLI yesterday who refused to cut losses decide to cut losses now at 1220.0/1219.0, so you get lower FKLI.
11:19 am - FCPO open and limit down -10% in 45 mins
Here is a good trade !
This is due to soy bean oil limit down last nite.. Some clients who called up made +144 pts less than 45 mins - Intraday trading. 1pt = RM 25. Do your math. Stop loss at around 75-100 pts for intraday.
If you want to trade FCPO, kindly call up before 10.30 am - around 10 am - 10.20 am. Make sure you have enough margin - est. RM15,000 per contract.
9:43 am - For intraday short position, look to short at 1242-1244.0
Take profit at 1238 and another profit objective at 1230.0
9:39 am - We might see an up bar tonite for DJIA.
Looking at DJIA, it register heavy volume and support at 12200. If DJIA can rebound up tonite, we might see our FKLI slowly climbly its way back to the bull terrority.
9:31 am - Here is a daily chart for April contract.
FKLI seems to be interested in going up. If LONG directional, trade if FKLI breaks above 1258-1260.
FKLI at this stage looks bearish and beginning to mushrooming down.
This is reacting to US Paulson's comment of restructuring US financial system. In short, this is a good news but too late.
March 31 (Bloomberg) -- Treasury Secretary Henry Paulson proposed the broadest overhaul of U.S. financial regulation since the Great Depression, saying American capitalism needs to be better prepared for ``inevitable market disruptions.''
``Our current regulatory regime is almost solely focused above ground at the tree level,'' Paulson said in remarks at the Treasury in Washington. ``The real threat to market stability is below ground, at the root level where the health of financial firms is intertwined.''
Paulson's 218-page ``Blueprint for Regulatory Reform,'' commissioned two months before credit markets seized up in August, said more rules aren't the answer to the current period of turmoil. The former chairman of Goldman Sachs Group Inc. said the system of regulating banks, securities firms and insurance companies is outmoded, and the Federal Reserve should expand its oversight of financial services beyond banks.
``We should and can have a structure that is designed for the world we live in, one that is more flexible, one that can better adapt to change, one that will allow us to more effectively deal with inevitable market disruptions, one that will better protect investors and consumers,'' Paulson said.
The Treasury secretary acknowledged in the speech that the changes will take ``many years to complete'' and most will require legislative approval.
The U.S. presidential election makes it hard for the Bush administration to push through changes in its final year, said Arthur Levitt, who was chairman of the SEC from 1993 to 2001.
Election Year
``I doubt that there will be any congressional action this year,'' Levitt, a director of Bloomberg LP, said in a Bloomberg Radio interview today. ``This is an issue that will be with us for weeks and months and probably years before substantial changes are implemented.''
The Fed, which earlier this month engineered JPMorgan Chase & Co.'s purchase of Bear Stearns Cos. and became lender of last resort to the biggest bond dealers, will oversee ``market stability,'' under proposals Paulson unveiled.
The Securities and Exchange Commission, traditionally the main regulator of Wall Street firms, will be merged with the Commodity Futures Trading Commission. Paulson said the goal is to combine ``the best parts of both.''
The Treasury recommended that the Fed share authority over banks, securities firms and insurers in monitoring corporate disclosures, writing rules and stepping in to prevent economic crisis.
``To do its job as the market stability regulator, the Fed would have to be able to evaluate the capital, liquidity and margin practices across the financial system and their potential impact on overall financial stability,'' Paulson said.
Discount-Window Access
The plan makes a distinction between the Fed's ``normal'' lender-of-last-resort discount window to help banks meet short- term funding needs and ``market stability'' lending to help stave off funding shortages and panics. In that function, loans could be extended to federally chartered insurers and financial institutions.
Paulson said it would be ``premature'' to give investment banks ongoing access to the discount window or subject them to permanent supervision by the Fed.
Under Treasury's proposal, the Fed would collect information from commercial banks, investment banks, insurance companies, hedge funds, private-equity firms and commodity-pool operators. Such a role would empower the central bank to go ``any place'' it needs to preserve financial stability, said Robert Steel, Treasury's undersecretary for domestic finance, in a Bloomberg Television interview in Washington.
Overlapping Regulators
Paulson initiated his review of the U.S. regulatory structure nine months ago following complaints from financial companies that overlapping agencies and excessive rules were hurting the nation's competitiveness.
``This is a dream come true for Wall Street,'' said Michael Greenberger, a professor at the University of Maryland in Baltimore and a former CFTC official. ``It was proposed and lobbied by Wall Street for a lighter regulatory touch.''
Former SEC Chief Accountant Lynn Turner said it would be a mistake to boost the Fed's power, arguing that it failed to protect consumers and investors during the housing boom in overseeing lenders such as Citigroup Inc. and Countrywide Financial Corp.
New York-based Citigroup, the biggest U.S. bank, has suffered $23.9 billion in writedowns and credit losses since the collapse of the subprime-mortgage market. Countrywide, the largest U.S. mortgage lender, agreed in January to sell itself to Bank of America Corp. after failing to overcome record losses and a cash shortage.
`Failed to Regulate'
The Bush administration ``has failed to regulate and now they're talking about creating a new regulatory regime that is kinder and gentler,'' Turner said. ``The Fed had oversight responsibility for Citigroup, for Countrywide, where were they? The bottom line is they were asleep at the wheel.''
Changes to the U.S. regulatory system, parts of which date back to the Civil War, have been proposed in the past, only to be thwarted in Congress and frustrated by industry opposition.
John Reich, director of the Office of Thrift Supervision, said he's skeptical that the combination of his agency with the Office of Comptroller of the Currency, as proposed by Paulson, will be easily achieved.
``Expect to see news stories and renewed questions about what the future will hold,'' Reich wrote in a letter to employees on March 28. ``The 20th anniversary of the OTS is next year. We can all expect -- despite predictions over the years to the contrary -- to be celebrating it.''
OTS Skepticsm
The OTS, a Treasury division created in 1989 after the savings-and-loan crisis, supervisors lenders including Calabasas, California-based Countrywide and Seattle-based Washington Mutual Inc., the largest U.S. savings and loan.
``The bulk of these regulatory responses made sense at the time they were created, but as we look at today's financial markets, the lack of a comprehensive design in clear,'' Paulson said. He added that ``with few exceptions, the recommendations in this blueprint should not and will not be implemented until after the present market difficulties are past.''
In his letter, Reich outlined obstacles to Paulson's plan, saying congressional debate and hearings could stretch into next year, when a new Congress and a new president ``may well have their own priorities and agendas.''
A dozen similar efforts by presidents, legislators and others over the last 60 years never ``became reality,'' Reich wrote. His office distributed the letter to reporters on the weekend.
Some members of Congress responded to Paulson's plan with skepticism, saying it's unlikely a deal could be reached until after the Bush administration leaves office.
``Realistically, probably you're not going to get much in terms of broad overhaul until we have a new administration,'' Senator Charles Schumer, a Democrat from New York who chairs the Joint Economic Committee, said in an interview on Bloomberg Television. ``To do anything very quick and very hasty would be a mistake.''
``Our current regulatory regime is almost solely focused above ground at the tree level,'' Paulson said in remarks at the Treasury in Washington. ``The real threat to market stability is below ground, at the root level where the health of financial firms is intertwined.''
Paulson's 218-page ``Blueprint for Regulatory Reform,'' commissioned two months before credit markets seized up in August, said more rules aren't the answer to the current period of turmoil. The former chairman of Goldman Sachs Group Inc. said the system of regulating banks, securities firms and insurance companies is outmoded, and the Federal Reserve should expand its oversight of financial services beyond banks.
``We should and can have a structure that is designed for the world we live in, one that is more flexible, one that can better adapt to change, one that will allow us to more effectively deal with inevitable market disruptions, one that will better protect investors and consumers,'' Paulson said.
The Treasury secretary acknowledged in the speech that the changes will take ``many years to complete'' and most will require legislative approval.
The U.S. presidential election makes it hard for the Bush administration to push through changes in its final year, said Arthur Levitt, who was chairman of the SEC from 1993 to 2001.
Election Year
``I doubt that there will be any congressional action this year,'' Levitt, a director of Bloomberg LP, said in a Bloomberg Radio interview today. ``This is an issue that will be with us for weeks and months and probably years before substantial changes are implemented.''
The Fed, which earlier this month engineered JPMorgan Chase & Co.'s purchase of Bear Stearns Cos. and became lender of last resort to the biggest bond dealers, will oversee ``market stability,'' under proposals Paulson unveiled.
The Securities and Exchange Commission, traditionally the main regulator of Wall Street firms, will be merged with the Commodity Futures Trading Commission. Paulson said the goal is to combine ``the best parts of both.''
The Treasury recommended that the Fed share authority over banks, securities firms and insurers in monitoring corporate disclosures, writing rules and stepping in to prevent economic crisis.
``To do its job as the market stability regulator, the Fed would have to be able to evaluate the capital, liquidity and margin practices across the financial system and their potential impact on overall financial stability,'' Paulson said.
Discount-Window Access
The plan makes a distinction between the Fed's ``normal'' lender-of-last-resort discount window to help banks meet short- term funding needs and ``market stability'' lending to help stave off funding shortages and panics. In that function, loans could be extended to federally chartered insurers and financial institutions.
Paulson said it would be ``premature'' to give investment banks ongoing access to the discount window or subject them to permanent supervision by the Fed.
Under Treasury's proposal, the Fed would collect information from commercial banks, investment banks, insurance companies, hedge funds, private-equity firms and commodity-pool operators. Such a role would empower the central bank to go ``any place'' it needs to preserve financial stability, said Robert Steel, Treasury's undersecretary for domestic finance, in a Bloomberg Television interview in Washington.
Overlapping Regulators
Paulson initiated his review of the U.S. regulatory structure nine months ago following complaints from financial companies that overlapping agencies and excessive rules were hurting the nation's competitiveness.
``This is a dream come true for Wall Street,'' said Michael Greenberger, a professor at the University of Maryland in Baltimore and a former CFTC official. ``It was proposed and lobbied by Wall Street for a lighter regulatory touch.''
Former SEC Chief Accountant Lynn Turner said it would be a mistake to boost the Fed's power, arguing that it failed to protect consumers and investors during the housing boom in overseeing lenders such as Citigroup Inc. and Countrywide Financial Corp.
New York-based Citigroup, the biggest U.S. bank, has suffered $23.9 billion in writedowns and credit losses since the collapse of the subprime-mortgage market. Countrywide, the largest U.S. mortgage lender, agreed in January to sell itself to Bank of America Corp. after failing to overcome record losses and a cash shortage.
`Failed to Regulate'
The Bush administration ``has failed to regulate and now they're talking about creating a new regulatory regime that is kinder and gentler,'' Turner said. ``The Fed had oversight responsibility for Citigroup, for Countrywide, where were they? The bottom line is they were asleep at the wheel.''
Changes to the U.S. regulatory system, parts of which date back to the Civil War, have been proposed in the past, only to be thwarted in Congress and frustrated by industry opposition.
John Reich, director of the Office of Thrift Supervision, said he's skeptical that the combination of his agency with the Office of Comptroller of the Currency, as proposed by Paulson, will be easily achieved.
``Expect to see news stories and renewed questions about what the future will hold,'' Reich wrote in a letter to employees on March 28. ``The 20th anniversary of the OTS is next year. We can all expect -- despite predictions over the years to the contrary -- to be celebrating it.''
OTS Skepticsm
The OTS, a Treasury division created in 1989 after the savings-and-loan crisis, supervisors lenders including Calabasas, California-based Countrywide and Seattle-based Washington Mutual Inc., the largest U.S. savings and loan.
``The bulk of these regulatory responses made sense at the time they were created, but as we look at today's financial markets, the lack of a comprehensive design in clear,'' Paulson said. He added that ``with few exceptions, the recommendations in this blueprint should not and will not be implemented until after the present market difficulties are past.''
In his letter, Reich outlined obstacles to Paulson's plan, saying congressional debate and hearings could stretch into next year, when a new Congress and a new president ``may well have their own priorities and agendas.''
A dozen similar efforts by presidents, legislators and others over the last 60 years never ``became reality,'' Reich wrote. His office distributed the letter to reporters on the weekend.
Some members of Congress responded to Paulson's plan with skepticism, saying it's unlikely a deal could be reached until after the Bush administration leaves office.
``Realistically, probably you're not going to get much in terms of broad overhaul until we have a new administration,'' Senator Charles Schumer, a Democrat from New York who chairs the Joint Economic Committee, said in an interview on Bloomberg Television. ``To do anything very quick and very hasty would be a mistake.''
Last Updated: March 31, 2008 16:58 EDT
Monday, March 31, 2008
4:59 pm - KLCI is bearish !
Think of going short ! If you bear the DJIA overnite, you can short tonite before closing at 5.15 pm.
12:33 pm - FKLI is beginning to mushroom as the day progress
Think short. Wait for tomorrow FKLI market to gap up if DJIA closed highly tonite. This is the short setup trade for tomorrow.
10:44 am - DJIA is trending lower with low volume.
We may see a lower DJIA tonite as profesionals not interested in DJIA.
10:17 am - FKLI on an hourly basis starting to mushrooming
This is a sign of bearishness at the top.
9:23 am - FKLI is ready to go up !
Let's see what happens in the afternoon if there is a follow thru.
Friday, March 28, 2008
5:06 pm - FKLI closed well too !
Each bar is marching higher ! Wait for the wide range bar to happen before exiting !
2:27 pm - Here are some reasons for investing in Man Fund Hedge Fund.
Dear Investors,
This is an interesting article taken from Bloomberg News today. It reports that Man Group continues to perform both for its investors as well as shareholders.
The OM IP Eclipse 3 closes on 4 April. Any questions or if you wish to sign up I will be in the office Saturday morning for the Phillip Currency seminar
11 AM to 12 30. Otherwise just give me or Martin a call. In trading he or she who hesitates will miss the opportunity
The reason Man assets continue to grow is because smart, sophisticated money is moving into Man Hedge Funds. Smart money wishes to profit from world stock market and currency volatility and the instability of the Middle East- witness the 6 USD jump in crude oil yesterday as terrorists blew up a pipeline in Basra Iraq which exports 80 % of Iraq oil. By the way Man funds are long the crude oil futures market. If the US pulls out of Iraq when Bush and his chronies are kicked out in November
expect the Iraq terrorists to create havok. Even Iran may step in to take control. There could be mayhem in the fight for control of the Basra Oil. If you hold Man funds and they hold crude oil futures contract you have the chance to make good returns when stock markets are collapsing.
You will sleep better if you hold some of your wealth in Man
Bill
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
This is an interesting article taken from Bloomberg News today. It reports that Man Group continues to perform both for its investors as well as shareholders.
The OM IP Eclipse 3 closes on 4 April. Any questions or if you wish to sign up I will be in the office Saturday morning for the Phillip Currency seminar
11 AM to 12 30. Otherwise just give me or Martin a call. In trading he or she who hesitates will miss the opportunity
The reason Man assets continue to grow is because smart, sophisticated money is moving into Man Hedge Funds. Smart money wishes to profit from world stock market and currency volatility and the instability of the Middle East- witness the 6 USD jump in crude oil yesterday as terrorists blew up a pipeline in Basra Iraq which exports 80 % of Iraq oil. By the way Man funds are long the crude oil futures market. If the US pulls out of Iraq when Bush and his chronies are kicked out in November
expect the Iraq terrorists to create havok. Even Iran may step in to take control. There could be mayhem in the fight for control of the Basra Oil. If you hold Man funds and they hold crude oil futures contract you have the chance to make good returns when stock markets are collapsing.
You will sleep better if you hold some of your wealth in Man
Bill
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
12:42 noon - Here are some reasons why you should invest in Man Investment Hedge Fund .
Man Group Says Annual Profit Tops Analysts' Estimates (Update2)2008-03-27 04:48 (New York)
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
12:42 noon - Here are some reasons why you should invest in Man Investment Hedge Fund .
Man Group Says Annual Profit Tops Analysts' Estimates (Update2)2008-03-27 04:48 (New York)
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
12:42 noon - Here are some reasons why you should invest in Man Investment Hedge Fund .
Man Group Says Annual Profit Tops Analysts' Estimates (Update2)2008-03-27 04:48 (New York)
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
12:42 noon - Here are some reasons why you should invest in Man Investment Hedge Fund .
Man Group Says Annual Profit Tops Analysts' Estimates (Update2)2008-03-27 04:48 (New York)
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
(Adds fees in seventh paragraph.)
By Tom Cahill March 27 (Bloomberg) -- Man Group Plc, the world's largestpublicly traded hedge fund manager, said annual earnings willexceed analysts' estimates, helped by rising performance fees. Profit before tax in the year ending March 31 will surpass$1.82 billion, the average estimate of 13 analysts surveyed bythe company, London-based Man Group said today in a statement.Man earned $1.3 billion in the previous 12 months. Man Group's flagship $3 billion AHL Diversified Plc fundrose 23 percent from a year ago, beating the 10 percent gain forthe Credit Suisse/Tremont Hedge Index and boosting fees tied toperformance. Man uses the AHL trading system to manage at least$21 billion in total. Peter Clarke, who took over in April aschief executive officer, said the company is ``extremely wellplaced'' for further growth. ``They've had spectacularly great performance with AHL,''said Jason Streets, head of research at Evolution Group Plc inLondon, who has a ``buy'' recommendation on the shares. ``Theinteresting thing is there's nothing about performanceelsewhere.'' Man Group rose 7 pence, or 1.3 percent, to 552.5 pence by8:30 a.m. in London trading. The stock has declined 2.7 percentthis year, the fourth-best performance in the 60-member BloombergEurope Banks and Financial Services Index.
Assets Rise
Man said investors added $15.8 billion to its funds in theyear, while redeeming $10.6 billion. Total assets undermanagement rose 4.6 percent to a record $75 billion, comparedwith $71.7 billion at the end of 2007. Net sales, or sales lessredemptions, were $900 million in the first three months of 2008,the statement said. Net management fee income will rise by more than 15 percentfrom the previous year, Man Group said. Hedge funds typicallykeep 20 percent of investment gains as performance fees. Man saidperformance fees will be ``up strongly over last year and aboveexpectations,'' without providing a specific figure. Streets at Evolution said the management fees and assetsunder management were ``slightly below'' his estimates. He hadprojected profit before tax of $2.06 billion. Hedge funds are mostly private pools of capital whosemanagers participate substantially in the profits from theirspeculation on whether the price of assets will rise or fall.They typically seek clients with at least $1 million to invest. Man, which started as a sugar trader in 1783, raised $2.9billion last year in the initial public offering of its MF GlobalLtd. brokerage unit.
--Editor: Frank Connelly, Mike Anderson
Thursday, March 27, 2008
9:36 pm - FKLI gap down and stop out our LONG trade at 1220.5
We are out of our LONG position. Profit +37 pts if we follow the system this time.
Anyway, the FKLI shape is bearish and we might get a burst of upward movement and we shud be thinking of shorting now.
Wednesday, March 26, 2008
5:44 pm - FKLI is very volatile caused by institution rollover of their contracts
This is why FKLI is up (+7 pts) slightly while KLCI is up more (+15.27 pts).
1:29 pm - It pays to read my newsletter again ! My newsletters recommends to go LONG at 3566.
Last done is 3640. That is 74 pts in the money for just following my newsletter's today recommendation.
1:17 pm - FKLI looking very toppish. Profit taking activities are ON !
There will be many sell signals.
10:01 am - FKLI is up and running !
Our trailing stop is still 1217.5. Some clients got out earlier due to this morning selldown. Await new signal from TG.
Tuesday, March 25, 2008
1:35 pm - My weekly newsletter recommendation call for a LONG position at 1215.0
It paid to read Martin's newsletter and it is free for his clients.
12:38 noon - FKLI looks like it is going to go up !
Volume is up and heavy for KLCI.
In the money and stop at 1189.0
9:39 am - FKLI gaps up due to surge of DJIA over 187 pts.
Our long position is still in. Stop at 1185.5.
Monday, March 24, 2008
5:18 pm - FKLI close lower to finish with almost 10 pts discount.
Let's see how DJIA wud close tonite. Our long position is still in and stop at 1170.0
Subscribe to:
Posts (Atom)
Posts
