9:41 am - DJIA is soon to test 8300 level tomorrow !

5:17 pm - FKLI closed lower !

3:17 pm - FKLI break down from high but well supported at 924

10:24 pm - Sign of weakness in short term for FKLI - Upthrust

9:11 am - FKLI need to close above 932 to move higher !

6:14 pm - I was on leave on Friday - Jan 9, 2009

6:01 pm - DJIA is going to test 8,300 support again.

This wud be the 3rd time.

2:27 pm - FKLI is moving sideway to downward !

9:36 am - FKLI gap down due to losses in DJIA -2.75 pct !

4:51 pm - FKLI break down due to falling CPO prices down 3.5 pct

12:31 noon - DJIA is positively ready to move upward !

9:55 am - FKLI is breaking new high and testing them for seller !

5:05 am - FKLI looking toppish from a daily chart !

If DJIA closed lower, FKLI is set to be bearish tomorrow !

1:15 pm - FKLI has become weaker due to more profit taking !

Long position is out at 916.5

10:05 am - FKLI broken new high at 930 !

9:47 am - FKLI is weaker today due to profit taking !

Professionals are taking profit or distributing today !

Regional markets are weaker too !

5:28 pm - FKLI finally breakout !

2:09 pm - FKLI is moving sideway for today !

9:11 am - FKLI gap up and started to run up !

Market is very bullish !

8:10 am - DJIA has finally closed above 9,000

8:05 am - Wall Street enjoys upbeat start to 2009

NEW YORK (AP) - Wall Street started 2009 with a big rally Friday asinvestors, brushing aside a disappointing report on manufacturing, sent the DowJones industrials up more than 250 points and to their first close above 9,000in two months. All the major indexes shot up more than six percent for the week. The market lived up to the hopes of many analysts that it would have a freshstart in the new year after a horrific 2008. But many traders were also waitingto see how the market fares next week; they're cognizant of the fact thatpost-holiday volume was light and therefore Friday's trading might not be thebest indicator of market sentiment. Still, the market held to its recent pattern of taking bad economic news instride, a pattern that began to emerge after it touched multiyear lows on Nov.20. "Over the last month you've started to see a change in sentiment and thiscertainly advances that," said Carl Beck, partner at Harris Financial Group inRichmond, Va. The Institute for Supply Management said its manufacturing activity indexfell to the lowest level in 28 years in December. The ISM, a trade group ofpurchasing executives, said its manufacturing index fell to 32.4 last month from36.2 in November. Economists polled by Thomson Reuters had expected a reading of35.5; a figure below 50 indicates contraction. "We like to see the markets shrug off the bad news. That typically is a signthat we're forming a bottom," said Eric Thorne, an investment adviser at BrynMawr Trust. Todd Leone, managing director at Cowen & Co., cautioned against reading toomuch into Friday's advance and said the first full week of the new year shouldprovide insight into investor sentiment for 2009. "The first five days are usually very telling," Leone said. "I'm not surewe'll be up or down." He said an advance in stocks Friday wasn't a surprise assome investors start the year by wading into the market. He said selling is morelikely to occur next week. The Dow rose 258.30, or 2.94 percent, to 9,034.69, finishing the week up 6.1percent. The blue chips last closed above 9,000 on Nov. 5, when they stood at9,139.27. The Dow, the oldest of the big market indexes, fell 33.8 percent in 2008,its worst performance since 1931, during the Great Depression. Like the Dow, broader stock indicators also advanced for the third straightsession. The Standard & Poor's 500 index rose 28.55 percent, or 3.16 percent, to931.80, its highest close since Nov. 5. The Nasdaq composite index rose 55.18,or 3.50 percent, to 1,632.21. For the week, the S&P 500 finished up 6.8 percent, while the Nasdaq rose 6.7percent. The Russell 2000 index of smaller companies rose 6.39, or 1.28 percent, to505.84. Advancing issues outnumbered decliners by about 5 to 1 on the New York StockExchange. Consolidated volume came to 3.48 billion shares, compared with 3.75billion on Wednesday. Bond prices fell as investors took on riskier assets including stocks. Theyield on the benchmark 10-year Treasury note, which moves opposite its price,rose to 2.39 percent late Friday from 2.22 percent late Wednesday. The yield onthe three-month T-bill, considered one of the safest investments and in greatdemand since the credit markets seized up in September, fell to 0.07 percentfrom 0.08 percent Wednesday. The dollar was mixed against other major currencies, while gold prices fell. Light, sweet crude rose $1.74 to settle at $46.34 a barrel on the New YorkMercantile Exchange. Thorne contends 2009 could be a strong year for Wall Street because mostinvestors are so shaken from the sell-off in 2008, which erased six years ofgains in stocks. Market bottoms often emerge because investors are sopessimistic or because stocks seem incapable of making any sustained recovery. "A bottom isn't formed in one day or even in one month but probably overseveral months," he said. "Expectations are extremely low for the economy, forcorporate earnings and for the stock market itself." Since hitting multiyear lows on Nov. 20, the Dow has advanced 19.6 percent,while the S&P 500 is up 23.8 percent. "We're very confident that the $9 trillion that is in cash right now willlook to find a home in better-performing assets," he said, referring to theamount of money invested in conservative but low-yielding areas like moneymarket funds. Yields on safe investments like Treasurys have fallen to virtuallynil as investors have clamored for safety and surrendered hopes of even earninga return on their money. Next week brings a flurry of economic readings and potentially earlycomments from companies on their 2008 results and 2009 forecasts. Traders will be anxiously awaiting a Labor Department report next Friday onDecember employment. A month ago, Wall Street showed newfound resiliency in theface of a bad reading on what is typically the most important economic report ofthe month. Stocks initially sagged but finished with big gains Dec. 5 after thegovernment reported that employers slashed a larger-than-expected 533,000 jobsin November. Investors were hoping the report would prompt Washington to takebroader steps to shore up the economy. "The employment numbers will almost undoubtedly be very ugly. What will beinteresting to see is what the market's reaction will be to those numbers,"Thorne said. "We're also very interested to see what the corporate earningsreporting season will be like." Harris Financial's Beck said the earnings reports could be a turning pointfor the market. "People expect earnings to be really bad. If they come out andthey're not quite as bad, you could see this momentum in the market continue,"he said. "If they come out even worse than expectations, that could be a majorset back." Stocks overseas also began the new year with a rally. Britain's FTSE 100rose 2.88 percent, Germany's DAX index jumped 3.39 percent, and France's CAC-40increased 4.09 percent. Markets in Japan were closed for a holiday. The Dow Jones industrial average ended the week up 519.14, or 6.1 percent,at 9,034.69. The Standard & Poor's 500 index rose 59, or 6.8 percent, to 931.80.The Nasdaq composite index ended the week up 101.97, or 6.7 percent, at1,632.21. The Russell 2000 index finished the week up 29.07, or 6.1 percent, at505.84. The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted indexthat measures 5,000 U.S. based companies -- ended at 9,364.54, up 595.19 points,or 6.79 percent, for the week. A year ago, the index was at 14,613.57.

10:02 am - DJIA is also breaking higher ! 5 L/C

Resistance at 8900

9:54 am - FKLI is ready to break higher. Long signal at 885.

5:23 pm - FKLI break lower to 874.5 but closed at 879

Happy New Year 2009 !

3:19 pm - FKLI break down after lunch touching 50 MA as support.

10:57 am - FKLI is congesting sideway !

9:14 am - FKLI gap up due to stronger DJIA closer last nite !

With Nikkei's closing today and Kospi opening late, KLCI will be thinly traded today !

5:43 pm - FKLI Jan break above 886

3:47 pm - FKLI is holding up nicely !

1:16 pm - Market Outlook by Bill Wermine

Dear Traders,

Below is my outlook for the stock market in 2009. It will be published in Malaysian Business in their end Jan edition:

By the way, we plan a Traders Club meeting on Sat 7 Feb at 10 AM at CIMB auditorium and plan to have the head of Technical analysis of CIMB (to be confirmed) who will give his 2009 stock market outlook.

Please let me know if you wish to attend Attached is the latest valuation of Man Essential, the recent launch. (30 Nov 2008 valuation)

How to Minimize your Costs and Risks while riding the 2009 stock market Bull

Below is a prophetic chart from Deutsche Bank research. It shows that stock markets bottom out a little more than half-way through recessions.

Based on this chart, I expect that 2009 will likely be a much better year for the markets than the year we have just endured. From this chart it appears that we are more than half way through the recession and probability is high that we will soon have a market recovery.

The Fuel to drive the Bull

We are on the verge of the Obama administration “stimulating” the US economy through public works and infrastructure projects, likely to the tune of nearly $1 trillion.
Obama’s program is likely to stimulate the economy and invigorate world markets in the near term.
The Federal Reserve has also signaled that it will do everything within its power to stimulate the economy. In the eyes of central planners, desperate times call for desperate measures. And the Fed is clearly desperate.
With their latest policy statement, issued on 22 December 2008, it is clear that the monetary helicopters have arrived. Not only have short term interest rates been cut to nearly zero, the Fed has also stated that it will resort to “alternative” means to juice the economy.
Have a prosporous New Year,
Bill

12:59 pm - FKLI Jan 09 contract - Facing resistance @ 886

It looks to break above 886 for the 3rd time.

9:49 pm - DJIA is treading sideway !

9:24 am - FKLI is breaking higher above 880

This is a break up !

9:15 am - Wall St. faces record losses in last week of 2008

NEW YORK (AP) - Investors are preparing to close out the last threetrading days of 2008 with Wall Street's worst performance since Herbert Hooverwas president. The ongoing recession and global economic shock pummeled stocks this year,with the Dow Jones industrial average slumping 36.2 percent. That's the biggestdrop since 1931 when the Great Depression sent stocks reeling 40.6 percent. The Standard & Poor's 500 index is set to record the biggest drop since itscreation in 1957. The index of America's biggest companies is down 40.9 percentfor the year. With these statistics ready to play out this week, it is little wonder whyinvestors are all too happy to close the books on 2008. Analysts are alreadylooking toward January as a crucial period for the market as it tries to recoversome of the $7.3 trillion wiped from the Dow Jones Wilshire 5000 index, thebroadest measure of U.S. stocks. "It is hard to gauge a recovery because there's so many things out therethat are interactive with each other," said Scott Fullman, director ofderivatives investment strategy for WJB Capital Group in New York. "Nothing isin a vacuum. Anybody who is managing money has to be on the cautious side for atleast the first six months of 2009." He said many analysts are jumping past this week and focusing on next month,especially with Barack Obama set to be sworn in as president on Jan. 20. Thereis hope that the new administration will deliver another stimulus package, whichalong with December's interest rate cuts, might help quell the financial crisis. Trading is expected to remain volatile with many market participants on thesidelines during the holiday-shortened week, but that doesn't mean investorswon't be kept busy. With no Santa Claus rally last week, economic data slatedfor the coming days could sway the market's mood going into 2009. Investors will be awaiting details about how retailers fared in thepost-Christmas sales period, especially since consumer spending drives more thantwo-thirds of the U.S. economy. The main question is if bargain prices at themalls will be enough to rescue retailers from a bleak holiday shopping season. Meanwhile, another gauge of how Americans feel about spending money will bereleased on Tuesday. The Conference Board will issue its December index ofconsumer confidence, which is expected to rise to a reading of 45.2 for thismonth, up slightly from 44.9 in November. The Labor Department will report on weekly jobless claims Wednesday, after a26-year high of 586,000 initial filings in the week ended Dec. 20. But the most anticipated economic data will be delivered Friday wheninvestors get a fresh reading on the manufacturing sector. The Institute forSupply Management releases its December survey of purchasing managers. The index is expected to show a reading of 35.5, down from November's 36.2,according to economists polled by Thomson Reuters. A reading above 50 points toexpansion, while a reading below 50 shows a contraction. There is little in the way of corporate news slated. Though, the final weekof the year -- when volume is slow and many money managers are on vacation -- isoften a time when companies slip through lower quarterly forecasts. Investors were still waiting word if GMAC Financial Services, the financingarm of General Motors Corp., will be eligible for a government bailout. GMACreceived the Federal Reserve's approval to become a bank holding company lastweek, but that was contingent on putting into place a complicateddebt-for-equity exchange by 11:59 p.m. EST Friday. That deadline passed with no word from the company. Analysts have speculatedthat if GMAC doesn't obtain financial help it would have to file for bankruptcyprotection or shut down, which would be a serious blow to parent GM's ownchances for survival. Both General Motors and Chrysler LLC on Monday will receive the first partof the $13.4 billion in emergency loans from the government. Each will receiveabout $4 billion, then receive the second payment of $5.4 billion on Jan. 16. GMgets a third installment of $4 billion on Feb. 17. Ford Motor Co. did not participate in the government rescue plan. IndyMac Bank, one of the most high-profile financial institutions to failbecause of the financial crisis, might be close to getting a new owner. Thebuyers include private equity firms J.C. Flowers & Co. and Dune CapitalManagement, according to The New York Times, which cited unidentified peopleclose to the matter. The proposed sale could be announced by Monday morning, the report said. Meanwhile, Kuwait's government on Sunday scrapped a $17.4 billion jointventure with U.S. petrochemical giant Dow Chemical Co. after criticism fromlawmakers that could have led to a political crisis in this small oil-richstate. The Cabinet, in a statement carried by the state-owned Kuwait News Agency,said the venture, was "very risky" in light of the global financial crisis andlow oil prices. Dow Chemical said it was "extremely disappointed" with theKuwaiti government's decision and was evaluating its options under thejoint-venture agreement.

4:05 pm - I am on leave until 30 Dec 2008.

Happy New Year !

9:02 am - DJIA is testing 8350 level but not breaking it yet !

It is likely to move sideway until it break 8350 level.

9:01 am - Merry Xmas and Happy New Year to All !

Next week, I will be back in my CIMB's office in Commerce Square. We will do our live trading in the first week of 2009.

9:11 am - DJIA is testing on low volume. If it does close the low 8500

It may just bounced up !

9:10 am - Dow falls for 5th straight session on grim data

NEW YORK (AP) - Wall Street pulled back again Tuesday in quiet trading aheadof the holiday, as another round of reports showed further deterioration in thehousing market and the broader economy. The Dow Jones industrial average finished lower for the fifth straight day,falling 100 points. Tuesday's gloomy data was hardly surprising to jaded investors. And tradingvolume is light this week, which tends to skew the market's movements. "It is a very quiet news week, and much of it has already been priced intothe market," said Ryan Larson, head of equity trading at Voyageur AssetManagement. The reports offered Wall Street no reason to be upbeat, however, and theconcern remains that the economy will keep weakening well into the new year. The Commerce Department reiterated Tuesday that third-quarter gross domesticproduct, a measure of the economy that tallies the value of goods and services,fell at an annual rate of 0.5 percent. The government also said sales of new homes fell in November to the slowestpace in nearly 18 years, while prices of new homes dropped by the biggest amountin eight months. Sales of existing homes keep dropping as well. The National Association ofRealtors said existing home sales fell 8.6 percent to an annual rate of 4.49million in November from a downwardly revised pace of 4.91 million in October.That was more than analysts expected. According to preliminary calculations, the Dow Jones industrial average fell100.28, or 1.18 percent, to 8,419.49. Broader indexes also declined. The Standard & Poor's 500 index shed 8.48, or0.97 percent, to 863.15. The Nasdaq composite index fell 10.81, or 0.71 percent,to 1,513.24. The Russell 2000 index of smaller companies fell 6.43, or 1.35percent, to 468.64.

9:01 am - FKLI gap down due to DJIA overnite losses !

IF FKLI cannot break above 878, we wud see lower FKLI. The window dressing is almost over !

5:12 pm - Short covering push FKLI back to close higher !

9:51 am - DJIA has doji after selling down earlier !

Some sign of strength is coming !

9:43 am - FKLI is closing and edging lower !

4:48 pm - A reversal day for FKLI !

3:44 pm - FKLI break down 890 level.

12:19 noon - FKLI looking toppish !

11:27 am - FKLI is moving sideway !

8:55 am - Free Book from Tradeguider

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8:52 am - FKLI gap up signalling higher FKLI today ???

Or it is a sign of toppish !

9:25 am - A lot of hardwork/effort denoted by volume but no results !

DJIA is not going anywhere but sideway or downward !

5:57 pm - FKLI looks to go higher next week !

2:56 pm - DJIA continue to move sideway !

10:47 am - Profit taking as part of the action going higher !

5:14 pm - FKLI really bullish !

I am waiting for Bull to become alive !

2:36 pm - FKLI break out 880 and look to go higher !

10:50 am - FKLI is testing recent high @ 876

If it can break higher and closed above, it can go higher !

10:27 am - DJIA hits resistance at this level 8935

8:50 am - FKLI gap up due to DJIA falling lower ???

Interesting ! In the sign of DJIA weakness, we see a little bit strength in the opening.

I think our FKLI is trying to test last high @ 876 and getting pressure from short seller.

If gap up, sell !