Wednesday, August 30, 2006

20060830 12:45 pm. FKLI daily with stochastics being in overbought for a while now, but MACD momentum still on upside. Posted by Picasa

Monday, August 28, 2006

20060828 9:52 am. FKLI moves up. Posted by Picasa

20060828 9:52 am. FKLI continues on upward move after the break Friday. Posted by Picasa

Friday, August 25, 2006

20060825 Close. FKLI closes the week on a high. Posted by Picasa

20060825 11:06 am. FKLI retests high. A note on how we had an 'upside bias' when looking for the breakout from consolidation is in order. Observe tha upmove in the blue rectangle on the 30 min chart, which took 7 bars, compare this with the downside move, which took double the time. In addition, try as they might, bears could not push the market down to the extent the price went up. This is bullish pattern, in price action terms. Posted by Picasa

20060825 8:53 am. FKLI move comes to upside, as 950 trades as the opening price. Posted by Picasa

Thursday, August 24, 2006

20060824 Close: FKLI has the push to upside, but failed to close above the breakout level (resistance). Will be interesting to see if the upside push (albeit small) can be maintained. Posted by Picasa

20060824 3:11 pm. IRIS is a chart that traders on Bursa could well find it worthwhile to print out, blow it up and stick it in the trading room wall to rimind one of how to 'cut losses short'. An example of gravity, what goes up must come down, symmetry in the speed of ascent and tumble etc etc. Posted by Picasa

20060824 3:00 pm. 30 min chart illustrates how the FKLI 'coils the spring'. Posted by Picasa

20060824 11:44 am. FKLI in 'coiling the spring' before the next move. A trade idea would be to long or short a break of the R1 and S1 levels for today.(yellow lines) Posted by Picasa

Wednesday, August 23, 2006

20060823 11;42 am. FKLI moves down through 946 support. Posted by Picasa

Tuesday, August 22, 2006

20060822 11:07 am. Cash KLCi broke out of the channel on 15 min chart. Posted by Picasa

20060822 10:44 am. FKLI buying in morning caused a 'pole' in a flag formation. Might wait to see the reaction at 946 to get long on a stop. Target 952.50, R3 level. Posted by Picasa

Monday, August 21, 2006

20060821 Close: The short failed, as some buying came in during the afternoon. Looking back, there was one element missing, lack of MACD divergence. Posted by Picasa

20060821 04:07pm. KLCI still channelling sideways. Posted by Picasa

20060821 09;54 am. Cash KLCI in a 'channel'. Will confirm break either side. Posted by Picasa

20060821 9:24 am. FKLI follows through to upside. Now we have an uptrend line on the market. Might be worth considering short at 940 if the trendline breaks. Posted by Picasa

Friday, August 18, 2006

20060818 Close: FKLI breaks up above R1, although the movement is subdued, with volume shrinking dramatically. Trading at slight premium to cash KLCI, bullish indications for next week? Posted by Picasa

20060818 12:45 pm. We had a break of R1 level (yellow horizontal line), and a pullback. If we can get above R1 and have sustained trade above, maybe we can get a trend going. Pivot level supports. Posted by Picasa

20060818 10;34 am. FKLI mid morning, extremely low volume and participation rate, grinding sideways. Posted by Picasa

Thursday, August 17, 2006

20060817 Close: Break down off triangle failed, cover for loss. Posted by Picasa

20060817 FKLI breaks down off descending triangle. Posted by Picasa

20060817 10;55 am. FKLI has a downward sloping trendline, that has tested 3 times. Posted by Picasa

Wednesday, August 16, 2006

20060816 Close: FKLI retests the trendline and breaks down through. Posted by Picasa

20060816 12:30 pm. A fellow trader alerted me to the 60 min chart of the cash CI, which looks like it has broken down, so got to be wary of the long trade. Posted by Picasa

"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil


From Dragons and Bulls by Stanley Kroll
Intro and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet/a>
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system