Here is the FCPO daily charts.
Wednesday, January 16, 2008
10:29 am - Decreasing volume as the FKLI goes higher
Looking at this 15 mins chart, the current bar is looking toppish. An opportunity to short in the short term - intraday trading.
9:51 am - FKLI trading at 12 pts premium. KLCI is taking a big hit today !
Our FKLI is in the money.
9:21 am - Wow ! I thought FKLi will gap down to 1494 but instead 1488
It is down to low 1482.5. Either hold or take profits on FKLI.
Tuesday, January 15, 2008
5:13 pm - A beautiful and classical pattern for Short
This is the pattern I taught in my 3 days course for establishing short.
2:57 pm - US recession confirmed ?
US economy heading for a recession - Standard Chartered SINGAPORE (Thomson Financial) - The US economy is heading for a recession and the downturn is expected to last until next year, the chief economist for Standard Chartered bank said Tuesday. A US slowdown will hurt Asia's export-led economies but the region is in a better position to cope with the situation because of its huge currency reserves and improved finances, Gerard Lyons said. "The US economy in our view is heading into a recession," Lyons said at a conference organised by the London-based bank. Unlike previous US recessions which typically last 10 to 11 months, Lyons said the world's largest economy will stay weak into next year. The Federal Reserve will cut interest rates to 3.0 percent by June to shore up growth, he said. In his view, "they should go even lower," said Lyons. While Asia's economies are still reliant on the US, the region is seen as boasting significantly bigger currency reserves and better fiscal positions, which should soften the impact of a US slowdown, said Lyons. "Basically there is a lot more room to respond to any downturn," he said, referring to Asia's ability to cope. Standard Chartered is forecasting the US economy will grow 0.5 percent this year. Other major financial houses including Goldman Sachs and Merrill Lynch have also tipped a US recession. "The recent data suggest that the US economy is falling into recession," Goldman Sachs economists said in a research note last week, noting that the impact of credit and housing woes is already being felt. Goldman Sachs said it expects the Fed to cut interest rates aggressively, bringing the federal funds rate from the current 4.25 percent to 2.5 percent by late 2008.
2:40 pm - FKLI did selldown after lunch and break down to 1515.5
Support at 1518 has been broken ! Our short position is in play !
9:59 am - FKLI gap up due to DJIA but now is looking not good.
Forming a double top with toppish pattern. This is a background to start your short position.
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