Monday, April 28, 2008

20080428 1645. When the pattern fails, it is time to bail out.

20080428 1557. FKLI spot mnth futures breaks down 1296.5. Let's see if there is any follow through.

20080428 1155. Quiet rollover activity on the FKLI futures contract, however an interesting pattern sets up, a possible prelude to a breakout move.

Thursday, April 24, 2008

20080424 FKLI futures corrected today, so is the uptrend over. That depends on whether support breaks. So where is the support level for the KLCI cash index. We can get a clue from the 8 period exp mov avg on the daily chart.

It seems that Kenanga and Amfutures are already putting trades through the DMA gateway, and today a local participant has started using their front end to trade.

Wednesday, April 23, 2008

20080424 Bursa finally has formalised its cooperation with NYSE Euronext on it's advanced DMA gateway. Currently supporting the lease lines and BT Radianz networks, the killer app will come when internet trading becomes available. Lease lines should open up the markets to the 'strategic alliances' with other exchanges often harped about by Bursa head honchos. Let's hope the correct focus is put on the immense value of internet trading.

Meanwhile, the uptrend continues on the FKLI futues.

Tuesday, April 22, 2008

20080423 1715. FKLI hits high of 1289.5 today.

Sunday, April 20, 2008

20080418 Here we go, venturing into the shark infested dangerous waters of 'long term prediction'. With another unfilled gap at 1350 for the FKLI futures, it might be plausible for the FKLI to at least move up to that level. As usual time will tell the outcome. The stock operators always use this 'target is RMX for ABC stock, buy it now! From the horses' mouth'. How often the retail investors and traders get conned by this sort of talk. Be aware of this game will stand one in good stead.

Friday, April 18, 2008

20080418 It seems that DMA has been launched in Bursamalaysia Derivatives on April 10 2008. But the big thing is when internet trading through DMA becomes available.

20080418 1715. Back from a vacation into trading. The horizontal lines show the breakout levels for the Apr 08 FKLI futures, both downside and upside valid for some ticks, but more on the upside.

"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
Introduction 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
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
Larry Hite: The Billion Dollar fund Manager
Systems Trading:Kroll's Suggested Method
Buy the Strength Sell the Weakness
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system