Some clients excited today with a handsome profits. Prepare for 40 pts. stop if you want to trade FCPO.
Friday, January 11, 2008
2:34 pm - FCPO holding strong due to this.
Malaysia's December crude palm oil output down 15.4 percent after flooding
KUALA LUMPUR (Thomson Financial) - Malaysia, the world's leading producer
of palm oil, said Friday crude palm oil production dropped 15.4 percent in
December from November after severe flooding hit several key palm oil
producing areas.
Crude palm oil output in December stood at 1.396 million metric tons,
down from 1.65 million tons in the previous month, the Malaysian Palm Oil
Board (MPOB) said in its latest report.
Total stock of crude palm oil fell 5.1 percent to 926,979 tons from 976,
607 tons from November, the government agency said.
Palm oil stock, including processed palm oil, declined 7.1 percent to 1.
682 million tons, against 1.81 million tons in November,
MPOB said exports of palm oil totaled 1.357 million tons, up 9.3 percent
from the previous month.
The southern state of Johor, Malaysia's top palm oil producing state, was
among the worst hit by floods late last year.
Crude palm oil futures on the Malaysian derivatives exchange reached a
fresh record on Friday. The benchmark three-month contract for March delivery
was up 74 ringgit at 3,275 ringgit per ton, off a high of 3,278 ringgit.
(1 US dollar = 3.25 ringgit)
KUALA LUMPUR (Thomson Financial) - Malaysia, the world's leading producer
of palm oil, said Friday crude palm oil production dropped 15.4 percent in
December from November after severe flooding hit several key palm oil
producing areas.
Crude palm oil output in December stood at 1.396 million metric tons,
down from 1.65 million tons in the previous month, the Malaysian Palm Oil
Board (MPOB) said in its latest report.
Total stock of crude palm oil fell 5.1 percent to 926,979 tons from 976,
607 tons from November, the government agency said.
Palm oil stock, including processed palm oil, declined 7.1 percent to 1.
682 million tons, against 1.81 million tons in November,
MPOB said exports of palm oil totaled 1.357 million tons, up 9.3 percent
from the previous month.
The southern state of Johor, Malaysia's top palm oil producing state, was
among the worst hit by floods late last year.
Crude palm oil futures on the Malaysian derivatives exchange reached a
fresh record on Friday. The benchmark three-month contract for March delivery
was up 74 ringgit at 3,275 ringgit per ton, off a high of 3,278 ringgit.
(1 US dollar = 3.25 ringgit)
10:42 : FCPO exports from ITS is down -30.9%
Crude oil is down almost US2 but FCPO is holding up nicely. Some one is buying.
10:38 am - FKLI breaking new high @ 1524
Watch for the premium over KLCI ! If this is too huge > + 20 pts, this can be a problem.
10:23 am - Looking at FKLI daily chart.
FKLI has been up for 3 days in a row. Historically, FKLI seldom goes up for more than 3-4 days in a row.
Look for FKLI to pull back and then buy or take profits early.
However, there is a general election looming so the situation is entirely different. The FKLI and KLCI may run.
Remember those who came to my talk at CIMB Auditorium on 5 Jan 2008. I did talk on the KLSE market during the coming general election mood.
10:14 am - News of FOMC cutting interest rate by 50 basis pt. This explain why insiders are buying at the support.
Can this be a start of a mini rally for DJIA ? Watch out for FKLI as this is an opportunity for insiders to sell to the public.
Good news, pro or insiders sell !
9:30 am - FKLI gap today and push further through.
Watch for the newspapers in Star. If you get a headline for breaking 1500+ in the front page or headline, the market will react badly and profit taking will occur for most of the times.
Subscribe to:
Posts (Atom)
Posts
