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
10:16 am - FKLI is exhibiting the same pattern as yesterday.
Wud we get the same results as yesterday too ?
Tuesday, February 26, 2008
10:14 am - FKLI gap up and slowly selling down !
These has been the typically trend for FKLI lately.
Monday, February 25, 2008
4:28 pm - FKLI is more towards sideway or downtrend.
It is testing the FKLI 200MA at 1362.0. Let's see where wud FKLI close tonite !
12:38 pm - FCPO up +207 pts. today !
Wow ! Some clients who took the FCPO trade this trade, pocket handsome profits.
10:28 am - Here is the prognosis for FKLI
Here is a chart of KLCI, the immediate resistance at 1374 and support at 1359.
The FKLI is most likely to range around this range between 1359-1374. As the futures market will close this Feb 29, 2008, it will converge to the cash market, KLCI. So it wud be better to use KLCI chart to trade FKLI.
9:30 am - FKLI holding its position. Maybe it is ready for a rally to election
Now that the selldown is done and DJIA maybe moving sideway, KLCI may ready for a mini rally - a election rally ?
Friday, February 22, 2008
5:18 pm - Here is the prognosis for FKLI
The FKLI is at its 61.8% retracement. Any more downward movement beyond 72% at 1337 will signify FKLI to go below 1320.0
FKLI is at the 1361 support and this is a major support. FKLI has been down 6 days in a row. Look for reversal on a long trade.
11:10 am - FKLI is still going down !
Think to add on to your short position ! If there is a rebound, it wud be on Monday, Feb 25 2008 when DJIA gives out the bad news this weekend. Let's see if this comes true.
We wud see more downside on Monday before the FKLI rebound.
10:18 am - FKLI gap down due to DJIA -141 pts.
The market is heading lower to 1340+. Our short position is in place.
Thursday, February 21, 2008
9:08 am - FKLI gap up due to DJIA closing high !
However, the FKLI is still weak. Strength comes from down bar. We wud monitor our short trade.
Wednesday, February 20, 2008
Tuesday, February 19, 2008
5:31 pm - An interesting day - KLCI up by 12.6 6 pt.
However, FKLI remains a doji. A bearish or sideway outlook for FKLI in the short term.
12:33 pm - FCPO is breaking new high -> 3,600 pts.
A very bullish pattern - doji followed by a wide range bar on a 10 mins chart.
9:34 am - DJIA was closed for holiday yesterday.
Naturally, our market gap up to take advantage of it.
9:28 am - Here is a current recommendation from my newsletter for LONG position - FCPO trade.
LONG at 3580 and FCPO closed 3599.0 last nite. Let's see if the trend remain bullish.
Monday, February 18, 2008
4:13 pm - FKLI staging a comeback after Hang Seng closed with -380 pts down.
This is a typical fashion on how FKLI behaves around 4.00 pm - 5.15 pm.
9:27 am - FKLI holding up nicely just like KLCI
I believe professionals maybe accumulating. Need to wait for confirmaton.
Saturday, February 16, 2008
8:04 am - Soybeans hit record on Chinese demand
NEW YORK (AP) - Soybean futures rose to a record Friday, surpassing $14 a bushel for the first time amid expectations of rising demand in China for the grain used to feed livestock and make biofuel. Other commodities traded mixed, with crude oil futures ending about flat and gold and silver edging lower. Soybean prices have surged 9.5 percent so far this year, buoyed by dwindling stockpiles and growing demand in China, the world's largest soybean buyer. On Thursday, China's agriculture minister said that bad winter storms had severely damaged 40 percent of the country's rapeseed crop -- leading investors to bet the country will boost buying of soybeans to make up the shortfall. "Whenever a (government) minister makes a statement, the market definitely listens. ... That brought a lot more speculative money into the market on the bean side," said Jason Ward, analyst with Northstar Commodity in Minneapolis. Soybeans for May delivery soared to an all-time high of $14.045 a bushel on the Chicago Board of Trade before easing back on profit-taking to settle at $13.7375 a bushel, still up 5.75 cents. Other agriculture commodities also rose. Wheat for May delivery gained 1 cent to settle at $10.42 a bushel on the CBOT, while March corn gained 3.75 cents to settle at $5.1475 a bushel. Soybeans had a phenomenal run last year and are poised for another strong performance in 2008. U.S. exporters have already sold more than three-quarters of the soybeans the Agriculture Department predicts for the whole marketing year, which ends in June. Although current supplies appear ample, analysts say the market is headed into a downward trend and that farmers need to plant more soybeans than they did last year -- when an ethanol boom led farmers to favor planting corn acres over soybeans. "We're selling (soybeans) obviously at a quick pace that needs to slow down" in order to meet long-term demand, Ward said. In precious metals, gold and silver futures fell after the dollar strengthened against some major currencies. Gold for April delivery lost $4.70 to settle at $906.10 an ounce on the New York Mercantile Exchange. March silver lost 13.7 cents to settle at $17.118 an ounce, while March copper added 3.5 cents to settle at $3.523 a pound. Platinum, meanwhile, continued its record-setting rally amid supply concerns fed by a power shortage in South Africa that could slow mining operations for up to four years. Platinum for April delivery leaped $57.80 to settle at $2,063.70 an ounce on the Nymex. The metal later surged to an all-time high of $2,087 an ounce in aftermarket trading. In energy markets, crude oil futures closed essentially flat Friday as investors cashed in profits from recent gains and worried over data suggesting a drop in oil demand. Light, sweet crude for March delivery inched up 4 cents to settle at $95.50 on the Nymex. Oil prices have risen more than $8 in little more than a week. Other energy futures traded mixed Friday. March gasoline futures rose 1.77 cents to settle at $2.4938 a gallon on the Nymex, while March heating oil fell 1.97 cents to $2.6469 a gallon. Copyright 2007 Associated Press. All rights reserved. This material may
Friday, February 15, 2008
10:04 am - FKLI - Could this be a forming a Head and Shoulder Pattern
You can see the right shoulder followed by the Head and the left shoulder which yet to be formed ? Once you see and confirmed the left shoulder, the market is more likely to turn bearish ?
Looking back to the last 2004 election if history is any indicators, the market back in 2004 was moving sideway and 5 days leading to the polling date, the market moves up.
Thursday, February 14, 2008
9:03 am - DJIA up +178 pts - FKLI gap up
The news is out i.e. the market will move up from now until elections. In between, there will be profit taking. Today is a crucial day is see how the KLCI market react to the polling date.
Wednesday, February 13, 2008
3:16 pm - The Market does not like the Dissolvement of Parliament and selldown !
This is a right opportunity to buy. The market cannot go down that much. They have to come and support it.
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