9:10 pm - FKLI - I am thinking of going short until I saw FOMC may cut 50 basis pts on 11 Dec

Stocks tilt to higher open ahead of data

NEW YORK (AP) - U.S. stocks headed toward a higher open Wednesday ahead of economic data that some investors hope will support a half-point interest rate cut. Wall Street is waiting for gauges on the service sector, factory orders and worker productivity. All are expected to be closely watched by the Federal Reserve, which meets for the last time this year next Tuesday. It is widely expected central bankers will lower rates to help pump up the economy and head off a recession. However, some investors are betting the Fed will go beyond the generally anticipated quarter percentage point cut, and lower rates by a half point. Investors were also hoping to rebound after two straight sessions of losses. Dow Jones industrial average futures rose 70, or 0.41 percent, to 13,332. Standard & Poor's 500 index futures rose 9.40, or 0.64 percent, to 1,472.40, and the Nasdaq composite index added 13.75, or 0.67 percent, to 2,076.00. Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.90 percent from 3.88 percent late Tuesday. The dollar was lower against other major currencies, while gold prices rose. OPEC decided Wednesday to keep output ceilings steady for now, in a move that briefly propelled crude prices above $90 a barrel. Wall Street is also waiting for government data that is forecast to show that crude oil inventories fell last week for the third straight week. Light, sweet crude rose $1.09 cents to $89.41 per barrel in premarket electronic trading on the New York Mercantile Exchange. Fannie Mae has joined rival mortgage financer Freddie Mac in cutting its dividend and selling special stock to raise capital. The government-sponsored lender hopes to cushion against mounting losses from high-risk home loans. Economists expect a report on business activity in the service sector to show slower growth than the previous month, due to pressure in the real estate, financial and shipping sectors. The Institute for Supply Management, a trade group of purchasing executives, will release its index of non-manufacturing business activity for October at 10 a.m. EST. Commerce Department figures are also expected to show factory orders in October were flat as concerns about the nation's economy's health hurt demand for manufactured goods. The data is due out 10 a.m. EST. Investors are also waiting for a government report due to show U.S. worker productivity rose in the third quarter while wage pressures slowed. The Labor Department is scheduled to release its final report of both measures for the July-September quarter at 8:30 a.m. Overseas, Japan's Nikkei stock average closed up 0.83 percent, while Hong Kong's Hang Seng index rose 1.61 percent. Britain's FTSE 100 added 1.11 percent, Germany's DAX index rose 0.69 percent, and France's CAC-40 increased 0.83 percent.

3:43 pm - FKLI is at its highest - 25 years high

FKLI Dec clocked 1,444.5.

However, we have taken profits along the way at 1427,1437.5,1440.0

Entry at 1415.0

9:42 am - FKLI has a support at 1414-1416 level.

Due to Sime RM +0.10 increase, our KLCI goes up 1.8-2.0 pts.

This is extraordinary and this is how they can control our KLCI which in turn control the FKLI.

FKLI is below 50MA and cross down - Look to short now.

Short if it break below 1263.5. However, FKLI trading at discount -19 pts.

11:42 am - Trail stop to 1253.5

Trade #8 is in the money +19 pts.

12:12 noon - FKLI cross up - Long 1234.5

Stop loss at 1206.0

10:49 am - Trade 7 is out with -3 pts. loss

Waiting for the next trade.

5:37 pm - Trade FKLI went long at 1271.5 yesterday

Stop out at 1254. Loss -17.5 pts

8:51 pm - FKLI stopped out at 1252.5

Loss of -14.5 pts

9:05 am - FKLI has cross down - Massive fall from DJIA -387 pts drop

Is the world coming to an end ?

4:46 pm - FKLI has crossed down below 50MA

Ready to short when crossdown.

2:33 pm : FKLI did break out 1380.0

There were no 7 bars line at the crossover. No signal for long.

It is ok if FKLI goes higher.

10:05 am - FKLI has crossed up due to gap up

However, there is no 7 bars line change.

10:06 am - No long position as MACD cross over but no 7 bars line change

The FKLi is gapping very widely making trading difficult to judge.

10:05 am - Short position stopped out at 1285.5

Loss of 27 pts.

10:09 am - FKLI long position stopped out at 1369.0

Loss of 43.5 pts. The biggest loss so far experienced.

10:49 am - FKLI short at 1258.5

Stop loss at 1285.5

10:19 am - Long Aug contract at 1312.5

Stop loss at 1275.0

9:09 am - FKLI has cross up but the trap is ...

Mkt does not like gap up on good news. However, cross did occur and with 44 pts discounts. This is an attractive trade.

Wait till 10 am.

3:11 pm - Short position triggered at 1295.0

Today profits +27 pt.