Thursday, April 17, 2008
9:28 am - DJIA is very strong and closed high last nite + 256.8
If we get momentum tonite, DJIA wud continue to break 12,700/12,800.
Wednesday, April 16, 2008
5:23 pm - FKLI closed above 1260 @ 1260.5
Let's see how DJIA wud react tonite. At 5:23 pm, DJIA futures is +53 pointing to a higher opening (I believe the closing of DJIA is more important)
3:58 pm - FKLI selldown for the 2nd time after it first turn uptrend.
This is what I am looking after the seller pushes and wash out the long position. If the FKLI can close @ 1258/1260, the uptrend is still intact.
9;26 am - FKLI gap up due to better closing by DJIA.
If FKLI cannot hold above 1254, this is a good day for LONG position. LONG position is on. Stop @ 1243.5.
9:18 am - DJIA has a doji with average volume last nite.
DJIA 1st up day over 4 down day. The volume is insignificant meaning, the probability for DJIA to go up tomorrow is 50:50.
Tuesday, April 15, 2008
11:02 am - FKLI washes out long position trader @ 1234 and washes short trader @ 1243
But it look like FKLI wants to go higher. KLCI is still up +7.08 pts.
9:40 am - Update : My newsletter recommends LONG position for FCPO on 3540.
FCPO closed 3595 (+141) with soy oil closes high last nite. We wud see higher FCPO + volatility as today it is inventory report day from SGS/ITS report.
9:19 am - FKLI trying to break higher to 1254.0
It must stay above 1239 to remain bullish for the morning.
Monday, April 14, 2008
5:36 pm - FKLI closed lower with -13.36 pts down.
FKLI market may move sideway or down from here onwards.
9:53 am - DJIA has fallen -2.0 % with heavy volume.
This is not good as it may signify more down days to come.
9:32 am - FKLI gap down due to DJIA -250 pts.
However, our FKLI market has seen come up due to short covering their short position. So they buy in.
Saturday, April 12, 2008
8:31 am : US Stocks fall sharply following GE results
NEW YORK (AP) - Wall Street stumbled Friday after a disappointingfirst-quarter report from General Electric Co. surprised the market and stokedconcern about the health of both corporate profits and the wider economy. Themajor indexes fell more than 2 percent, with the Dow Jones industrials giving upmore than 250 points. A weaker-than-expected reading showing consumer confidence at a 26-year lowsubdued any positive sentiment. GE, which is regarded as a bellwether of big business, said itsfinancial-services divisions have been challenged by the slowing U.S. economyand difficult capital markets. The company, whose orbit extends intoentertainment, consumer and industrial manufacturing, finance and health care,also lowered its projections for the entire year. The conglomerate is one of the early companies to post first-quarter resultsand its shortfall stirred worries that others still to report will paint asimilarly dreary picture. The smaller-than-expected profits from GE injectedanxiety into a market that earlier this week saw disappointing results fromaluminum producer Alcoa Inc. and a warning from chip maker Advanced MicroDevices Inc. "The market really is focusing on the extent to which problems in the creditmarkets are spilling over into the real economy," said Brian Gendreau,investment strategist for ING Investment Management in New York. According to preliminary calculations, the Dow fell 256.56, or 2.04 percent,to 12,325.42. GE was by far the steepest decliner among the 30 stocks thatcomprise the Dow. Its shares dropped $4.70, or 13 percent, to $32.05. Broader stock indicators also registered sizable losses. The Standard &Poor's 500 index fell 27.72, or 2.04 percent, to 1,332.83, and the Nasdaqcomposite index fell 61.46, or 2.6 percent, to 2,290.24. The Russell 2000 index of smaller companies fell 19.26, or 2.72 percent, to688.16. Declining issues outnumbered advancers by about 4 to 1 on the New York StockExchange, where volume came to 1.26 billion shares compared with 1.28 billionshares traded Thursday. Friday's pullback followed a comparatively quiet week in which the majorindexes showed modest adjustments. Stocks were little changed Monday, declinedTuesday following profit warnings from names like United Parcel Service Inc. andposted moderate gains Thursday following a drop in unemployment claims. For the week, the Dow lost 2.3 percent, the S&P 500 declined 2.7 percent andthe technology-heavy Nasdaq gave up 3.4 percent. Bond prices rose Friday as investors fearful of a slowing economy took updefensive positions in government debt. The yield on the benchmark 10-yearTreasury note, which moves opposite its price, fell to 3.46 percent from 3.55percent late Thursday. Light, sweet crude rose 3 cents to settle at $110.14 per barrel on the NewYork Mercantile Exchange. The dollar was mixed against other major currencies,while gold prices fell. A snapshot of a gloomy consumer added to recent reports showing Americans'confidence in the economy at new lows, dragged down by worries about mountingjob losses, record-high home foreclosures and zooming energy prices. Investors fear that nervous shoppers will be less willing to reach intotheir wallets -- an unwelcome prospect as consumer spending accounts for about70 percent of U.S. economic activity. The preliminary Reuters/University of Michigan index of consumer sentimentfell to 63.2 for April -- its lowest point since 1982 -- from 69.5 in March,according to Dow Jones Newswires. Economists polled by Thomson/IFR had, onaverage, expected a reading of 68. "I think rationality is coming into the market," said Alan Lancz, directorat investment research group LanczGlobal in Toledo, Ohio. "Every time we move upto test the upper end of the range, something seems to happen." He noted that even if the most onerous times for the financial sector havepassed, as some market watchers have said, the effects of a tight credit marketwill be felt for some time. Lancz said GE's results offer new evidence thatforecasts for corporate profits in general remain too rosy given the troubleshitting businesses. "They're facing a lot of headwinds that I don't think a lot of analysts haveput into their numbers," he said. Lancz contends that the Federal Reserve's moves last month to head off thecollapse of Bear Stearns Cos. no doubt helped stabilize Wall Street -- but mighthave led some investors to become complacent about the scope of the troublesstill facing the economy. Linda Duessel, a market strategist at Federated Investors in Pittsburgh,noted that GE is known for its dependability in meeting Wall Street's forecasts,and the nearly 6 percent drop in its profits suggest that other first-quarterresults next week could reveal weakness well beyond the financial industry. "In the fourth quarter of last year the financials continued to tell us badnews and the rest of the sectors hung in extremely well," she said, adding thatinvestors are now worried the weakness has spread. "That company is known for being kind of a window to the market and theeconomy," she said of GE. In other corporate news, Frontier Airlines Holdings Inc. filed for Chapter11 bankruptcy protection. Unlike the three other airlines that have filed forbankruptcy in as many weeks, the carrier plans to keep operating while itreorganizes. Frontier ended down $1.09, or 69 percent, at 48 cents. Overseas, Japan's Nikkei stock average rose 2.92 percent. Britain's FTSE 100closed down 1.17 percent, Germany's DAX index fell 1.50 percent, and France'sCAC-40 finished off 1.27 percent. Copyright 2008 Associated Press. All rights reserved. This material may not be
Friday, April 11, 2008
11:33 am - FKLI has broken its support at 1253 and tries to build a base 1247/1248
If this base is successful, FKLI may go higher.
10:57 am - FKLI is moving sideway !
Long is still on ! After gapping up, FKLI move sideway but did not close the gap below - which is good.
9:15 am - FKLI is ready to go higher.
My newsletter recommends to go LONG at 1260. Market touches 1260 this morning. Let's see if this can break.
Thursday, April 10, 2008
5:18 pm - FKLI close 1243.5 due to last min selldown from 1249.0
If DJIA closes lower tonite, we wud have lower - FKLI to gap down. If the gap is filled, FKLI is heading for another bullish day.4:38 pm - FKLI is certainly bullish and this time is the long position to take profit
So you wud see weaker FKLI at this moment.
Some clients already long based on their indicators.
Daily chart has strength detected ! LONG is on.
However, our intraday TG has no buy signal.
9:54 am - FKLI wants to go higher !
It may form a double top at 1228 and once confirmed, you can short. Else FKLI can break above 1228.
9:18 am - FKLI is resilience while the regional market is weaker today.
The FKLI is likely to range bound.
Wednesday, April 09, 2008
5:55 pm - Bill and myself will be doing a preview workshop on April 10 & April 13, 2008
If you are interested to come, pls contact Dolly at 03 4252 4149.
5:07 pm - FKLI forms a saucer in its hrly chart.
It looks like it wants to go higher. For short, stop loss at 1228.
For long, go long at this stage.
12:32 noon - After hitting new high at 1228, FKLI came down !
FKLI is moving sideway and wash all the short seller stop and KLCI is heading lower. KLCI closes for lunch +2.07 pts only.
11:05 am - FKLI is thrusting upward
Lot of short seller was stopped out at 1227/1228.
Cash is -2 pts discount to FKLI. Cash is still weak.
Cash is -2 pts discount to FKLI. Cash is still weak.
9:22 am - FKLI is ready to go up !
FKLI has broken up the 1218 for the 3rd time and see if it can sustain above 1218.0
(Cannot upload chart)
There is a lot of short covering today ! Those ppl who shorted yesterday have to cut loss.
(Cannot upload chart)
There is a lot of short covering today ! Those ppl who shorted yesterday have to cut loss.
Tuesday, April 08, 2008
9:43 am - DJIA is ready to move higher based on the qtrly profit reports tonite.
Notice the lower high for each movement of DJIA. It is moving higher.
9:40 am - FKLI gap down and washes the long positon
Yesterday before closing, it move higher to wash the short seller. Now it is ready to go long.
Think of going long.
Monday, April 07, 2008
9:37 am - FKLI is mushrooming down and looking to break 1200 today ???
This is the last resistance at 1220 level. If it breaks and it had, it is going downtrend. Our short position is still in place.
Saturday, April 05, 2008
8:24 pm - A great article by Joe Ross - one of my sifu !
THE COMEBACK
By Joe Ross
There have been plenty of times during my trading career that I had to come from behind to turn a sure loser into a winning trade. Believe me, trading can be pretty scary at times. However, sometimes you simply have to eat the loss and accept a fall. It is at that time you find out whether or not you can make it as a trader.
Despite my best efforts, I sometimes find it hard to pick myself up after a fall. You've heard it before, and sometimes it is said in really stupid ways: Traders must learn to expect losses. I even read once that traders have to learn to love losses. Losing is not something I ever want to learn to love.
Learning to expect losses is often easier said than done. Even if you are a seasoned trader, and have complete confidence in yourself and your approach to trading, it is not easy to take a severe drawdown in stride, keep trading, and win back what you've lost.
If you're a beginner, a severe drawdown probably reflects a lack of trading skills -- but if you are not a beginner, more than likely you have done something really foolish. You've messed up somehow, and you now find yourself facing a devastating loss. It happens to the best of us. You have my word on that.
There may be an element of truth in it when a novice trader tells himself or herself, "I don't have the skills to trade profitably and I should just give up." It is hard to pick yourself up after a severe fall because, in the back of your mind, you think your fears may be legitimate. You haven't yet acquired the confidence in yourself and in how you trade to be sure that you know what you are doing. In the end, however, such a negative view of your trading is not going to allow you to achieve the financial success you hope for.
The only way I know of to become a consistently winning trader is to keep trading, so that you can get the extensive experience you need to make it as a trader.
Again, that is a lot easier said than done. When the market is kicking you in the teeth, it is really hard to hang in and keep on trading, and you won't be able to keep on trading when you feel paralyzed after a setback. Thankfully, there are some things you can do to pick yourself up and keep going.
From my own experience I can tell you that after I've taken a severe hit, it's hard not to feel extremely disappointed. Mostly, I am disappointed in my performance. Just as with anyone else, I experience times when I feel insecure to some extent, and a major letdown brings out this sense of personal inadequacy. As I tell attendees at seminars and in private tutoring, I still have to put my pants on one leg at a time, the same as they do. My mind is wired just as is yours -- a loss brings to mind linked memories. A bad trade brings with it a bad memory, which in turn brings yet another bad memory. I find myself saying, "Oh no! I screwed up again. When will I ever learn?" If you allow it, you can find yourself in a vicious circle; one failure brings to mind another, and then another, all of which serve to intensify your disappointment. You've got to break the circle before it intensifies, but how?
There are two ways to stop the vicious circle from turning a minor setback into a major disappointment:
1. Make and keep a list of great wins you've made as a trader, especially those where you came back from behind. When you face a disappointing trade, you can read through the list to remind yourself of the times you have succeeded. This list of memories of successes will counteract your tendency to recall past failures. When you recount your past triumphs, your mood will turn from pessimism to optimism.
2. You must deal with the possibility that you may, deep down, really believe that you can never become a profitable trader. Obviously, such a belief isn't going to help you persist after a setback, even though there might be some truth in it. If you merely try to deny the belief and block it out of your consciousness, it may have a more powerful adverse influence on your motivation. The best way to neutralize this thought is to acknowledge it, and refute it.
Keep in mind that with persistence you will gain the experience you need to trade consistently and profitably. Remembering and concentrating on this fact will powerfully influence your ability to recover from a setback.
By Joe Ross
There have been plenty of times during my trading career that I had to come from behind to turn a sure loser into a winning trade. Believe me, trading can be pretty scary at times. However, sometimes you simply have to eat the loss and accept a fall. It is at that time you find out whether or not you can make it as a trader.
Despite my best efforts, I sometimes find it hard to pick myself up after a fall. You've heard it before, and sometimes it is said in really stupid ways: Traders must learn to expect losses. I even read once that traders have to learn to love losses. Losing is not something I ever want to learn to love.
Learning to expect losses is often easier said than done. Even if you are a seasoned trader, and have complete confidence in yourself and your approach to trading, it is not easy to take a severe drawdown in stride, keep trading, and win back what you've lost.
If you're a beginner, a severe drawdown probably reflects a lack of trading skills -- but if you are not a beginner, more than likely you have done something really foolish. You've messed up somehow, and you now find yourself facing a devastating loss. It happens to the best of us. You have my word on that.
There may be an element of truth in it when a novice trader tells himself or herself, "I don't have the skills to trade profitably and I should just give up." It is hard to pick yourself up after a severe fall because, in the back of your mind, you think your fears may be legitimate. You haven't yet acquired the confidence in yourself and in how you trade to be sure that you know what you are doing. In the end, however, such a negative view of your trading is not going to allow you to achieve the financial success you hope for.
The only way I know of to become a consistently winning trader is to keep trading, so that you can get the extensive experience you need to make it as a trader.
Again, that is a lot easier said than done. When the market is kicking you in the teeth, it is really hard to hang in and keep on trading, and you won't be able to keep on trading when you feel paralyzed after a setback. Thankfully, there are some things you can do to pick yourself up and keep going.
From my own experience I can tell you that after I've taken a severe hit, it's hard not to feel extremely disappointed. Mostly, I am disappointed in my performance. Just as with anyone else, I experience times when I feel insecure to some extent, and a major letdown brings out this sense of personal inadequacy. As I tell attendees at seminars and in private tutoring, I still have to put my pants on one leg at a time, the same as they do. My mind is wired just as is yours -- a loss brings to mind linked memories. A bad trade brings with it a bad memory, which in turn brings yet another bad memory. I find myself saying, "Oh no! I screwed up again. When will I ever learn?" If you allow it, you can find yourself in a vicious circle; one failure brings to mind another, and then another, all of which serve to intensify your disappointment. You've got to break the circle before it intensifies, but how?
There are two ways to stop the vicious circle from turning a minor setback into a major disappointment:
1. Make and keep a list of great wins you've made as a trader, especially those where you came back from behind. When you face a disappointing trade, you can read through the list to remind yourself of the times you have succeeded. This list of memories of successes will counteract your tendency to recall past failures. When you recount your past triumphs, your mood will turn from pessimism to optimism.
2. You must deal with the possibility that you may, deep down, really believe that you can never become a profitable trader. Obviously, such a belief isn't going to help you persist after a setback, even though there might be some truth in it. If you merely try to deny the belief and block it out of your consciousness, it may have a more powerful adverse influence on your motivation. The best way to neutralize this thought is to acknowledge it, and refute it.
Keep in mind that with persistence you will gain the experience you need to trade consistently and profitably. Remembering and concentrating on this fact will powerfully influence your ability to recover from a setback.
Friday, April 04, 2008
5:39 pm - I will be out of CIMB office on April 7,8 2008
Pls take note that Li Ling will be in trading desk/office to manage your trading position.
- Martin-
- Martin-
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.
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