For FKLI
For FCPO
Wednesday, July 02, 2008
5:16 pm - FKLI is forming a bullish pattern "saucer"
The FKLI market is poised for higher closing tomorrow after down so many days !
4:51 pm - Time to think to go LONG !
If DJIA recover tonite, expect FKLI to rebound tomorrow !
Cover all our short positions to go LONG.
11:54 am - FKLI is certainly in a beautiful downtrend !
Short higher and take profit lower ! The FKLI is poised to rebound after lunch as regional market has good support !
10:52 am - Live trading at my office, CIMB - Thur 3 July 2008
Dear Traders,
As most of you know, many investors and traders cannot find anything meaningful to trade on KLSE Bear market. Many ppl asked me if they can open an acct with me to trade futures to benefit from the KLSE Bear Market. Profitting from the sell first and buy later.
So I am accepting new acct only on limited basis with term and conditions.
Bill and myself do live trading on a weekly basis for my clients and graduates of my workshop at my office in CIMB. See map below
Date & Time : Thur, 3 July 2008, 11 am - 12.30 noon
Venue: Wisma Amanah Raya, Level UL, Room 8, CIMB (See Map)
Park your car (FOC) near the bangalows at the back of the building and walk to CIMB.
If you wish to come and see me how I trade FKLI futures and give an market outlook, let me know as the CIMB meeting room has limited seats.
Email me at martin.wong@cimb.com or call me 03 2084 9999 X3533.
Rgds, -martin-
10:48 am - FKLI selldown and tested major support at 1142
Folk, this is a major support for FKLI testing for the 2nd time. If this break for the 3rd time, FKLI is finished. Taken profits for clients at 1143.0
9:02 am - DJIA has a beautiful doji and support at 12,272
DJIA may rebound back to positive up bar tonite !
8:58 am - FKLI gap up but weaknesses set in !
FKLI shud not break above 1259/1260 for the downtrend to persist.
Tuesday, July 01, 2008
5:33 pm - U.K. Real-Estate Stocks Post Worst Performance in Two Decades
Anyone or investors care to comment on the UK Profitable Plot Land Bank investments e.g. the advertistments that you see in Rapid KL ?
Rgds,
-martin-
By Peter Woodifield
July 1 (Bloomberg) -- U.K. real-estate stocks had their worst performance in more than 20 years in the second quarter as property values dropped and rents for new office leases fell for the first time in more than four years.
The FTSE-350 Real Estate Index of 23 stocks slumped almost 24 percent in the second quarter to the lowest since August 2004. The biggest decliner was Quintain Estates and Development Plc, which plunged 58 percent.
``The landlord has no power at the moment,'' said Harm Meijer, an analyst at JPMorgan Chase & Co. in London. ``We haven't reached the bottom yet.''
Shops, offices and warehouses lost 18 percent of their value since the U.K. market peaked 11 months ago, according to Investment Property Databank Ltd., as purchases became harder and more expensive to finance. The index last performed worse in the fourth quarter of 1987, which included the biggest ever one-day decline of global stocks known as Black Monday.
``Real estate is getting very cheap if you look at the fundamentals,'' said Patrick Sumner, head of real-estate stocks at Henderson Global Investors Ltd. ``The trouble is, sentiment is so negative at the moment.''
U.K. rents for new tenants fell in May for the first time since December 2003, according to CB Richard Ellis Group Inc., the world's largest realtor. The decline was led by London's main financial district, known as the City, where rents dropped 1.3 percent from the prior month.
Empty Premises
Banks and securities firms in London's main financial district may cut as many as 40,000 jobs by the end of next year, analysts at JPMorgan Chase estimate, reducing demand for office buildings. At the same time, a drop in consumer spending is increasing the amount of vacant retail space.
U.K. property stocks have fallen for 15 of the last 18 months and have declined 52 percent since the FTSE 350 Real Estate Index reached a record on Jan. 3, 2007.
That month, Britain introduced real estate investment trusts to encourage individuals to buy property shares. REITs have fallen 18 percent this quarter and 47 percent since the start of 2007, according to the AME Capital U.K. REIT Index.
Quintain Estates, the developer of homes, offices and shops around London's Wembley Stadium, and other residential landlords were hurt by the slump in the U.K. housing market caused by lending restrictions. The number of home sales in England and Wales has slumped by 40 percent this year, according to the Council of Mortgage Lenders. Mortgage approvals in May were at their lowest since at least 1997, the British Bankers Association said June 24.
`Freefall' for Stocks
The five-year U.K. swap rate, which influences borrowing costs for property companies, rose to 6.061 percent yesterday from 4.99 percent at the end of the first quarter. The yield on 10-year U.K. government bonds rose to 5.126 percent at June 27 from 4.348 percent at March 31, making bonds relatively more attractive, according to Meijer.
``The sudden jump in the 5-year swap rate and the 10-year bond yield has sent some stocks into freefall,'' he said.
Britain was the only major commercial-property market in which investors lost money last year, IPD said June 7. The best performer in the London-based research firm's 22-member global index was South Africa, which generated returns of 28 percent against the global index return of 11.5 percent. The U.K. lost 3.4 percent. The returns were calculated in the local currency.
The best performer in the FTSE 350 Real Estate Index in the second quarter was Mapeley Ltd., the landlord to U.K. government departments including the customs and tax authority. The investment company, controlled by New-York based buyout firm Fortress Investment Group LLC, fell 7.4 percent.
The relative performance of the index against broader equity benchmarks is the worst for almost 10 years. The FTSE 100 Index fell 1.3 percent in the quarter, outpacing the real estate index by more than 22 percentage points. The last time the gap was bigger was in the fourth quarter of 1998 when the FTSE 100 Index jumped 16 percent and the property index dived 13 percent, a difference of 29 percentage points.
To contact the reporter on this story: Peter Woodifield in Edinburgh at pwoodifield@bloomberg.net. Last Updated: July 1, 2008 00:45 EDT
Rgds,
-martin-
By Peter Woodifield
July 1 (Bloomberg) -- U.K. real-estate stocks had their worst performance in more than 20 years in the second quarter as property values dropped and rents for new office leases fell for the first time in more than four years.
The FTSE-350 Real Estate Index of 23 stocks slumped almost 24 percent in the second quarter to the lowest since August 2004. The biggest decliner was Quintain Estates and Development Plc, which plunged 58 percent.
``The landlord has no power at the moment,'' said Harm Meijer, an analyst at JPMorgan Chase & Co. in London. ``We haven't reached the bottom yet.''
Shops, offices and warehouses lost 18 percent of their value since the U.K. market peaked 11 months ago, according to Investment Property Databank Ltd., as purchases became harder and more expensive to finance. The index last performed worse in the fourth quarter of 1987, which included the biggest ever one-day decline of global stocks known as Black Monday.
``Real estate is getting very cheap if you look at the fundamentals,'' said Patrick Sumner, head of real-estate stocks at Henderson Global Investors Ltd. ``The trouble is, sentiment is so negative at the moment.''
U.K. rents for new tenants fell in May for the first time since December 2003, according to CB Richard Ellis Group Inc., the world's largest realtor. The decline was led by London's main financial district, known as the City, where rents dropped 1.3 percent from the prior month.
Empty Premises
Banks and securities firms in London's main financial district may cut as many as 40,000 jobs by the end of next year, analysts at JPMorgan Chase estimate, reducing demand for office buildings. At the same time, a drop in consumer spending is increasing the amount of vacant retail space.
U.K. property stocks have fallen for 15 of the last 18 months and have declined 52 percent since the FTSE 350 Real Estate Index reached a record on Jan. 3, 2007.
That month, Britain introduced real estate investment trusts to encourage individuals to buy property shares. REITs have fallen 18 percent this quarter and 47 percent since the start of 2007, according to the AME Capital U.K. REIT Index.
Quintain Estates, the developer of homes, offices and shops around London's Wembley Stadium, and other residential landlords were hurt by the slump in the U.K. housing market caused by lending restrictions. The number of home sales in England and Wales has slumped by 40 percent this year, according to the Council of Mortgage Lenders. Mortgage approvals in May were at their lowest since at least 1997, the British Bankers Association said June 24.
`Freefall' for Stocks
The five-year U.K. swap rate, which influences borrowing costs for property companies, rose to 6.061 percent yesterday from 4.99 percent at the end of the first quarter. The yield on 10-year U.K. government bonds rose to 5.126 percent at June 27 from 4.348 percent at March 31, making bonds relatively more attractive, according to Meijer.
``The sudden jump in the 5-year swap rate and the 10-year bond yield has sent some stocks into freefall,'' he said.
Britain was the only major commercial-property market in which investors lost money last year, IPD said June 7. The best performer in the London-based research firm's 22-member global index was South Africa, which generated returns of 28 percent against the global index return of 11.5 percent. The U.K. lost 3.4 percent. The returns were calculated in the local currency.
The best performer in the FTSE 350 Real Estate Index in the second quarter was Mapeley Ltd., the landlord to U.K. government departments including the customs and tax authority. The investment company, controlled by New-York based buyout firm Fortress Investment Group LLC, fell 7.4 percent.
The relative performance of the index against broader equity benchmarks is the worst for almost 10 years. The FTSE 100 Index fell 1.3 percent in the quarter, outpacing the real estate index by more than 22 percentage points. The last time the gap was bigger was in the fourth quarter of 1998 when the FTSE 100 Index jumped 16 percent and the property index dived 13 percent, a difference of 29 percentage points.
To contact the reporter on this story: Peter Woodifield in Edinburgh at pwoodifield@bloomberg.net. Last Updated: July 1, 2008 00:45 EDT
5:07 pm - My newsletter recommendation call for a short at 1158.5
This trade is LONG and carried over nite. DJIA futures has fallen -70 pts now.
Monday, June 30, 2008
5:08 pm - FKLI is weakening toward EOD !
The institution rollover has cause the FKLI turn bearish and once the rollover is over, it is back to normal - weak to bearish.
3:21 pm - FKLI July is bullish due to the month end rollover
Despite cash market selling down -6.62, you see July contract bullish.
2:53 pm - Kucinich: 'We went to war for the oil companies'
Kucinich: 'We went to war for the oil companies'
By Nick Juliano
Rep. Dennis Kucinich, who has introduced measures to impeach George W. Bush and Dick Cheney, said Thursday that oil executives who secretly met with the vice president in 2001 should be held criminally liable for pushing an illegal war.
"In March of 2001, when the Bush Administration began to have secret meetings with oil company executives from Exxon, Shell and BP, spreading maps of Iraq oil fields before them, the price of oil was $23.96 per barrel. Then there were 63 companies in 30 countries, other than the US, competing for oil contracts with Iraq," the Ohio Democrat said during a speech on the House floor.
"Today the price of oil is $135.59 per barrel, the US Army is occupying Iraq and the first Iraq oil contracts will go, without competitive bidding to, surprise, (among a very few others) Exxon, Shell and BP."
The New York Times reported last week that those companies, Chevron, Total and some smaller companies were set to receive no-bid contracts from Iraq's Oil Ministry. According to the paper, such deals "are unusual for the industry," and the companies prevailed over more than 40 others, including some from Russia, China and India.
In March 2001, two years before Iraq was invaded, Cheney met with top executives from Exxon Mobil Corp., Shell Oil Co., BP America Inc. and others on his infamous secret Energy Task Force.
Kucinich seemed to accuse participants in that meeting of plotting the invasion of Iraq. There's no indication that the participants discussed military action, although documents later released showed they did eye Iraq's oil fields.
The White House convinced the Supreme Court to let it keep secret the proceeding's of Cheney's task force, although the Washington Post later revealed most of its activities.
Kucinich accused the US government of forcing Iraq to privatize its oil fields, which are estimated to hold more than 100 billion barrels of oil, and keeping US troops at war to protect the oil reserves.
"Our nation's soul is stained because we went to war for the oil companies and their profits. There must be accountability not only with this Administration for its secret meetings and its open illegal warfare but also for the oil company executives who were willing participants in a criminal enterprise of illegal war, the deaths of our soldiers and innocent Iraqis and the extortion of the national resources of Iraq," he said.
"We have found the weapon of mass destruction in Iraq. It is oil," Kucinich continued. "As long as the oil companies control our government Americans will continue to pay and pay, with our lives, our fortunes our sacred honor."
By Nick Juliano
Rep. Dennis Kucinich, who has introduced measures to impeach George W. Bush and Dick Cheney, said Thursday that oil executives who secretly met with the vice president in 2001 should be held criminally liable for pushing an illegal war.
"In March of 2001, when the Bush Administration began to have secret meetings with oil company executives from Exxon, Shell and BP, spreading maps of Iraq oil fields before them, the price of oil was $23.96 per barrel. Then there were 63 companies in 30 countries, other than the US, competing for oil contracts with Iraq," the Ohio Democrat said during a speech on the House floor.
"Today the price of oil is $135.59 per barrel, the US Army is occupying Iraq and the first Iraq oil contracts will go, without competitive bidding to, surprise, (among a very few others) Exxon, Shell and BP."
The New York Times reported last week that those companies, Chevron, Total and some smaller companies were set to receive no-bid contracts from Iraq's Oil Ministry. According to the paper, such deals "are unusual for the industry," and the companies prevailed over more than 40 others, including some from Russia, China and India.
In March 2001, two years before Iraq was invaded, Cheney met with top executives from Exxon Mobil Corp., Shell Oil Co., BP America Inc. and others on his infamous secret Energy Task Force.
Kucinich seemed to accuse participants in that meeting of plotting the invasion of Iraq. There's no indication that the participants discussed military action, although documents later released showed they did eye Iraq's oil fields.
The White House convinced the Supreme Court to let it keep secret the proceeding's of Cheney's task force, although the Washington Post later revealed most of its activities.
Kucinich accused the US government of forcing Iraq to privatize its oil fields, which are estimated to hold more than 100 billion barrels of oil, and keeping US troops at war to protect the oil reserves.
"Our nation's soul is stained because we went to war for the oil companies and their profits. There must be accountability not only with this Administration for its secret meetings and its open illegal warfare but also for the oil company executives who were willing participants in a criminal enterprise of illegal war, the deaths of our soldiers and innocent Iraqis and the extortion of the national resources of Iraq," he said.
"We have found the weapon of mass destruction in Iraq. It is oil," Kucinich continued. "As long as the oil companies control our government Americans will continue to pay and pay, with our lives, our fortunes our sacred honor."
9:24 am - DJIA is looking very bad from here !
Next major support 10700. It closed on 11,346 last friday.
It's easy to short !
Saturday, June 28, 2008
7:29 am - Wall Street extends losses in volatile week
Wall Street extends losses in volatile week NEW YORK (AP) - Wall Street ended a depressing week with another big loss onFriday, with the Dow Jones industrials falling more than 100 points amidever-escalating worries about high oil prices and fallout from the creditcrisis. The major indexes are all down more than 3 percent for the week. The Dow has fallen nearly 460 points in the last two sessions and reachedits lowest point since September 2006. Investors again contended Friday with a seemingly relentless stream oftroubling news about the financial sector. Moody's Investors Service said it isreviewing investment bank Morgan Stanley for a possible downgrade. There werealso more reports that Merrill Lynch & Co. might have to write off nearly $6billion of risky mortgage-backed debt. In addition to anxiety about the financials, the market watched oil's marchhigher -- the price of crude rose to a new record of $142.99 a barrel on the NewYork Mercantile Exchange. Wall Street remains concerned that higher commodityprices will slam consumers with not only elevated costs for energy and food, butalso for other goods if cash-strapped companies decide to pass along the risingcosts. "People are trading with a lot of emotion," said Alexander Paris, aneconomist and market analyst for Chicago-based Barrington Research. "I think themarket is trying to make a bottom, but the question is will it hold there orjust crash through. It feels just like the top of the technology bubble in 2000,you know there's something wrong but it is hard to time it." Investors got little solace from economic data released on Friday. TheCommerce Department said spending rose 0.8 percent in May, as taxpayers startedreceiving their stimulus checks. The increase was higher than the 0.7 percenteconomists predicted. The report also said personal incomes surged 1.9 percent-- significantly more than anticipated. After taxes, incomes surged 5.7 percent,the largest amount in 33 years. The Dow fell 106.91, or 0.93 percent, to 11,346.51, compounding Thursday's358-point skid. The blue chip index is down 19.9 percent from its record highclose of 14,164.53 in October, and is on the verge of the 20 percent pullbackthat is considered the threshold for a bear market. Broader stock indicators also closed lower. The Standard & Poor's 500 indexfell 4.77, or 0.37 percent, to 1,278.38. The S&P, the index most closely watchedby market professionals, is down 18.3 percent from its October high. The Nasdaq composite index fell 5.74, or 0.25 percent, to 2,315.63. The market was pounded this week not only by a resurgence of bad news aboutthe financial sector and $140 oil, but by harbingers of problems to come inother parts of the economy. Poor outlooks for high-tech companies and theautomotive sector reminded Wall Street that the troubles have the potential tobecome widespread. There is also likely fear on the Street about upcoming second-quarterearnings reports and companies outlooks for the rest of the year. Oracle Corp.'swarning of difficult times ahead contributed to Thursday's huge drop. For the week, the Dow gave up 4.19 percent, the S&P shed 3 percent and theNasdaq fell 3.76 percent. With one trading day left in the second quarter, theDow is down 7.47 percent, the S&P 500 is off 3.35 percent and the Nasdaq is up1.60 percent. Year-to-date statistics show how badly the market has suffered from thecredit crisis and the impact of soaring oil: The Dow is down 14.46 percent, theS&P 500 is down 12.94 percent and the Nasdaq is down 12.69 percent. Even if the economic numbers coming out soon -- including the government'sJune employment report, to be issued on Thursday -- look better, the marketlikely won't be reassured, because the impact of higher oil is still not known. Declining issues outnumbered advancers by about 3 to 2 Friday on the NewYork Stock Exchange, where volume came to 1.4 billion shares. Bond prices edged higher. The yield on the benchmark 10-year Treasury note,which tends to move opposite its price, was at 3.96 percent, down from 4.03percent late Thursday. The dollar was lower against other major currencies,while gold prices rose. In other economic news, the University of Michigan's June index of consumersentiment came in at 56.4, a bit lower than its reading in May and slightlybelow the average analyst estimate. "The problem is that there's not one, single worry," said Hugh Johnson,chairman and chief investment officer of Johnson Illington Advisors. He pointedto high gas prices, still-tight credit market conditions, and the contractinghousing market. "If you're looking for problems that face investors, that facethe U.S. economy, they're everywhere." Also Friday, a Lehman Brothers analyst lifted his prediction of MerrillLynch's asset markdowns in the second quarter. His write-down estimate rose to$5.4 billion from $3 billion. On Thursday, a Goldman Sachs analyst forecast a$4.2 billion write-down at Merrill and a nearly $9 billion write-down atCitigroup Inc. Merrill shares fell 35 cents to $32.70, and Citigroup shares fell 42 cents,or 2.3 percent, to $17.25. Morgan Stanley dropped 12 cents to $36.71 after Moody's said the investmentbank's "financial performance and risk management has been inconsistent" sincecredit markets began last year. The company will focus its review on MorganStanley's ability to control risk and generate profit over the next one to twoyears -- a period Moody's expects will be challenging for investment banks. The Russell 2000 index of smaller companies fell 0.28, or 0.04 percent, to698.14. Overseas, Japan's Nikkei stock average fell 2.01 percent after Wall Street'stumble Thursday. Britain's FTSE 100 rose 0.21 percent, Germany's DAX index fell0.58 percent, and France's CAC-40 lost 0.65 percent. Copyright 2008 Associated Press. All rights reserved. This material may not be
Friday, June 27, 2008
11:11 am - Short sellers are covering their short position.
Look at the volume drying up as it moves higher !
10:21 am - Oil Falls From Record as U.S. House Passes Speculation Measure
By Christian Schmollinger and Margot Habiby
June 27 (Bloomberg) -- Crude oil fell in New York, retreating from the record $140.39 a barrel reached yesterday, as the U.S. House of Representatives approved a bill aimed at curbing excessive energy-market speculation.
The bill, which passed 402-19, would require the Commodity Futures Trading Commission to consider using position limits, or constraints on the size of the stake each speculative investor can own, and raising margin requirements, the amount of money required to trade. The vote came after the record was set.
``Sentiment may push prices down initially,'' said Mark Pervan, a senior commodity strategist with Australia and New Zealand Banking Ltd. in Melbourne. ``Curbing the speculative element might cause prices to fall so sentiment alone would suggest that we might see some profit-taking.''
Crude oil for August delivery fell as much as $1.03, or 0.7 percent, to $138.61 a barrel in after-hours trading on the New York Mercantile Exchange. It was at $139.38 a barrel at 9:35 a.m. Singapore time.
Yesterday, oil rose $5.09, or 3.8 percent, to $139.64 a barrel, a record settlement price, as Libya threatened to cut output, OPEC's president said prices may reach $170 by the summer and the dollar weakened. Yesterday's all-time-high intraday price surpassed the $139.89 reached June 16.
Oil futures have moved by 2 percent or more on half of the trading days this month. Prices veered 43.4 percent from the 30- day average yesterday, the highest volatility in 16 months, according to Bloomberg data. Volatility is a measure of how far the price of a commodity such as oil deviates from average closing prices over a prior period, such as 30 or 60 days.
``When you've got such an active market, it's very news sensitive,'' said ANZ's Pervan. ``These markets can move quite sharply because you're talking about a higher volume game.''
Pre-Recess Vote
The House passed the measure just hours before recessing for a week for the July 4 Independence Day holiday, a time when members typically return home and meet with constituents. Rising retail gasoline prices, which averaged $4.07 a gallon on June 25 and reached a high of $4.08 on June 16 according to the AAA, have angered voters. Gasoline prices are up 34 percent this year.
The measure calls on the CFTC use its emergency powers to ``curb immediately the role of excessive speculation'' in any market it oversees in which energy futures or swaps are traded.
An emergency in commodity markets is defined as a ``threatened or actual market manipulations or corners,'' any domestic or foreign government decision affecting prices, or ``any other major market disturbance which prevents the market from reflecting supply and demand,'' the CFTC said in a statement yesterday.
The agency ``has never exercised emergency power based on price trends that have developed over months or years,'' the statement said. Emergency powers have been invoked four times since the CFTC was formed in 1976.
Task Force
The measure is ``not likely to be bullish,'' said Tim Evans, an energy analyst for Citi Futures Perspective in New York. ``You can argue that it may not be effective, but I don't know that you can actually argue that it's bullish.''
The measure needs to be passed by the Senate and signed by the president before becoming law.
The CFTC, which regulates U.S. commodity futures and options markets, said earlier this month that it formed an interagency task force to evaluate developments in commodity markets, including the role of speculators. The task force includes the Federal Reserve, the Securities and Exchange Commission, the CFTC and the U.S. Departments of Treasury, Energy and Agriculture.
The House defeated a separate measure mandating that oil companies produce energy from current leases or be disqualified from future leasing.
Brent crude oil for August settlement was at $139.50 a barrel, down 33 cents, on London's ICE Futures Europe exchange at 9:10 a.m. Singapore time. It rose $5.50, or 4.1 percent, yesterday to settle at a record $139.83 a barrel. Prices touched $140.56 a barrel, the highest since trading began in 1988.
To contact the reporters on this story: Christian Schmollinger in Singapore at christian.s@bloomberg.net; Margot Habiby in Dallas at mhabiby@bloomberg.net.
June 27 (Bloomberg) -- Crude oil fell in New York, retreating from the record $140.39 a barrel reached yesterday, as the U.S. House of Representatives approved a bill aimed at curbing excessive energy-market speculation.
The bill, which passed 402-19, would require the Commodity Futures Trading Commission to consider using position limits, or constraints on the size of the stake each speculative investor can own, and raising margin requirements, the amount of money required to trade. The vote came after the record was set.
``Sentiment may push prices down initially,'' said Mark Pervan, a senior commodity strategist with Australia and New Zealand Banking Ltd. in Melbourne. ``Curbing the speculative element might cause prices to fall so sentiment alone would suggest that we might see some profit-taking.''
Crude oil for August delivery fell as much as $1.03, or 0.7 percent, to $138.61 a barrel in after-hours trading on the New York Mercantile Exchange. It was at $139.38 a barrel at 9:35 a.m. Singapore time.
Yesterday, oil rose $5.09, or 3.8 percent, to $139.64 a barrel, a record settlement price, as Libya threatened to cut output, OPEC's president said prices may reach $170 by the summer and the dollar weakened. Yesterday's all-time-high intraday price surpassed the $139.89 reached June 16.
Oil futures have moved by 2 percent or more on half of the trading days this month. Prices veered 43.4 percent from the 30- day average yesterday, the highest volatility in 16 months, according to Bloomberg data. Volatility is a measure of how far the price of a commodity such as oil deviates from average closing prices over a prior period, such as 30 or 60 days.
``When you've got such an active market, it's very news sensitive,'' said ANZ's Pervan. ``These markets can move quite sharply because you're talking about a higher volume game.''
Pre-Recess Vote
The House passed the measure just hours before recessing for a week for the July 4 Independence Day holiday, a time when members typically return home and meet with constituents. Rising retail gasoline prices, which averaged $4.07 a gallon on June 25 and reached a high of $4.08 on June 16 according to the AAA, have angered voters. Gasoline prices are up 34 percent this year.
The measure calls on the CFTC use its emergency powers to ``curb immediately the role of excessive speculation'' in any market it oversees in which energy futures or swaps are traded.
An emergency in commodity markets is defined as a ``threatened or actual market manipulations or corners,'' any domestic or foreign government decision affecting prices, or ``any other major market disturbance which prevents the market from reflecting supply and demand,'' the CFTC said in a statement yesterday.
The agency ``has never exercised emergency power based on price trends that have developed over months or years,'' the statement said. Emergency powers have been invoked four times since the CFTC was formed in 1976.
Task Force
The measure is ``not likely to be bullish,'' said Tim Evans, an energy analyst for Citi Futures Perspective in New York. ``You can argue that it may not be effective, but I don't know that you can actually argue that it's bullish.''
The measure needs to be passed by the Senate and signed by the president before becoming law.
The CFTC, which regulates U.S. commodity futures and options markets, said earlier this month that it formed an interagency task force to evaluate developments in commodity markets, including the role of speculators. The task force includes the Federal Reserve, the Securities and Exchange Commission, the CFTC and the U.S. Departments of Treasury, Energy and Agriculture.
The House defeated a separate measure mandating that oil companies produce energy from current leases or be disqualified from future leasing.
Brent crude oil for August settlement was at $139.50 a barrel, down 33 cents, on London's ICE Futures Europe exchange at 9:10 a.m. Singapore time. It rose $5.50, or 4.1 percent, yesterday to settle at a record $139.83 a barrel. Prices touched $140.56 a barrel, the highest since trading began in 1988.
To contact the reporters on this story: Christian Schmollinger in Singapore at christian.s@bloomberg.net; Margot Habiby in Dallas at mhabiby@bloomberg.net.
10:14 am - DJIA has one of the biggest fall since Great Depression 1929
I see high volume yesterday but I want to see a doji tonite before DJIA can reverse up. Else DJIA may go down some more or move sideway.
9:48 am - FKLI July really jump off the cliff
In coming weeks, FKLI is very easy to trade. Just short on strength. If there is strength today, just sell short !
Thursday, June 26, 2008
5:18 pm - FKLI has a bearish pattern - July contract
FKLI is ready for short tomorrow ! Short July contract !
2:51 pm - Once the rollover is over, our KLCI will give way
Sending our FKLI back to bear again. Think to short !
10:59 am : For those living in Penang - Bill Wermine will be in Penang on July 12, 2008
Dear Graduates of Bill's seminars,
For all of you who attended our programs I am coming to Penang and would like to renew our relationship and assist you on any thing or any questions you might have.
We are coming to Penang on Saturday 12th July and will have a graduates reunion at the Evergreen Laural Hotel. This is preceeded by an Investment talk with details below. It is free of change and includes refreshments. Our reunion is from 1 to 3: 30 PM and if you have any questions on any trading matter we are happy to answer them.
We will be organising an exclusive International Investment Talk on 12th July 2008. Our CIO, Mr Ang Kok Heng will share with us on how alternative investment can help to enhance your total portfolio. Details of the talk are as below:
Date : 12th July 2008 (Saturday)
Time : 10.00 am - 12.30 pm
Venue : Evergreen Laurel Hotel 53, Persiaran Gurney, 10250 Penang (See map attached)
10.00 am Registration
10.30 am Alternative Investment Opportunities Through Man Investment
11.15 am BREAK*
11.30 am No Qualms on Aussie $ !
12.10 pm MAN Weathers Through The Storms
12.30 pm Question and Answer Session
*Refreshments will be provided.
As seats are limited please let me know if you wish to attend with your name and telephone number..
Have a good week ahead
Bill
012 685 1207
For all of you who attended our programs I am coming to Penang and would like to renew our relationship and assist you on any thing or any questions you might have.
We are coming to Penang on Saturday 12th July and will have a graduates reunion at the Evergreen Laural Hotel. This is preceeded by an Investment talk with details below. It is free of change and includes refreshments. Our reunion is from 1 to 3: 30 PM and if you have any questions on any trading matter we are happy to answer them.
We will be organising an exclusive International Investment Talk on 12th July 2008. Our CIO, Mr Ang Kok Heng will share with us on how alternative investment can help to enhance your total portfolio. Details of the talk are as below:
Date : 12th July 2008 (Saturday)
Time : 10.00 am - 12.30 pm
Venue : Evergreen Laurel Hotel 53, Persiaran Gurney, 10250 Penang (See map attached)
10.00 am Registration
10.30 am Alternative Investment Opportunities Through Man Investment
11.15 am BREAK*
11.30 am No Qualms on Aussie $ !
12.10 pm MAN Weathers Through The Storms
12.30 pm Question and Answer Session
*Refreshments will be provided.
As seats are limited please let me know if you wish to attend with your name and telephone number..
Have a good week ahead
Bill
012 685 1207
9:34 am - A little bird told me that KLCI and FKLI wud stay firmed due to window dressing !
This mean the fund manager wants the KLCI to look good for half year closing of 2008 meaning KLCI has little downside until 30 June 2008.
9:24 am - FKLI showing sign of first sign of weakness
Be ready to short the July contract. Remember sell on strength. You can sell on the 2nd or even 3rd sign of weakness.
Wednesday, June 25, 2008
4:54 pm - FKLI is testing 1200 resistance again.
If DJIA closed higher tonite, FKLI will gap across 1200 tomorrow.
9:21 am - This is what I am looking for a doji for DJIA
Let's see if it wud bound up tonite for DJIA. The low pivot is at 11,725 level.
9:17 am - FKLI is still nudging along moving sideway !
This wud allow the institutions to rollover their contracts.
Tuesday, June 24, 2008
3:40 pm - FKLI is matching slowly allowing institutionals to roll over !
I see some pullback as FKLI hits 50MA at 1195. Look to long at lower prices 1185/1187
11:42 am - Trading Course review of Stuart McPhee
Very recently I reviewed one course by a respected trader, Stuart McPhee
from Australia (author of 'Trading In A Nutshell, 3rd Edition').
You may have even attended one of his workshops in Singapore or KL. Up until now,
the course I reviewed has only been offered to Stuart'scoaching clients and a few other colleagues of his.
In any event, Ihave arranged for you to gain access to a set of question and answersessions Stuart recorded as a lead up to the workshop I watched.
Originally they were for his clients however I really feel they will beof value to you.
You can download them here:http://www.tripletradingprofits.com/martin.htm
Please note: You don't have enter your email address or register todownload this material. The link above takes you directly to the download page. Please let me know what you think.
Best regards,
Martin
from Australia (author of 'Trading In A Nutshell, 3rd Edition').
You may have even attended one of his workshops in Singapore or KL. Up until now,
the course I reviewed has only been offered to Stuart'scoaching clients and a few other colleagues of his.
In any event, Ihave arranged for you to gain access to a set of question and answersessions Stuart recorded as a lead up to the workshop I watched.
Originally they were for his clients however I really feel they will beof value to you.
You can download them here:http://www.tripletradingprofits.com/martin.htm
Please note: You don't have enter your email address or register todownload this material. The link above takes you directly to the download page. Please let me know what you think.
Best regards,
Martin
10:23 am - DJIA is poised to move sideway
If there is a rebound, DJIA is going to form a doji first with a long tail.
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