FKLI Futures Trading - Bursamalaysia
This will chronicle trading in the FKLI & FCPO futures. If you don't like what you see/read in this blog, just surf away. These opinions are our personal opinions and just a record of our thoughts..."In evolution, it’s not the biggest, the fiercest nor the smartest that survive, it’s the one that changes the fastest.” I.e. the key word is to adapt the trading style to the markets, until it stops working
Thursday, July 31, 2008
Wednesday, July 30, 2008
20080730 0922. Well, the KLCI did dip below the buy level of 1150, and one would have plenty of time to get long (plan A)yesterday, with a range of 1136 to 1146 on FKLI futures.
Monday, July 28, 2008
Friday, July 25, 2008
Wednesday, July 23, 2008
Tuesday, July 22, 2008
Monday, July 21, 2008
Wednesday, July 16, 2008
Tuesday, July 15, 2008
20080715 1123. FKLI futures has retraced back to the other day's breakout level of 1111.5.(now below it) this is after the KLCI cash index kissed the neckline of the weekly H&S pattern. Might see support at these levels, but will have to see. Low of 1106 now trades 1109.5. Looking for trading in the range 1105 to 1115.
Monday, July 14, 2008
20080713 1435. FKLI futures forms the breakout range of 1128.5 and 1123.5. See if the breakouts have any follow through.
Saturday, July 12, 2008
Friday, July 11, 2008
Thursday, July 10, 2008
20080710 FKLI futures 5 min chart. This is the current uptrend that the market is on now. Why is this happening? Plenty of doom and gloom on the futures and stock market last week. Well the irrational short positions were taken by some players, irrespective of the price, the discount to the cash index and daily technicals (RSI extgremely oversold) The rally is in part caused by short covering by these players. 1150 beckons on the cash KLCI.
20080710 1005. FKLI futures 15 min breakout range is set at 1111.5 to 1103.5. Let's ee what happens.
Wednesday, July 09, 2008
Tuesday, July 08, 2008
Monday, July 07, 2008
Sunday, July 06, 2008
The Weekly FKLI futures chart, (as well as cash KLCI) shows the break of the neckline of a giant Head and Shoulders formation. This points the way to the target price of 790 on the FKLI futures contract. Not withstanding this, we are of the opinion that there will be a technical rebound to 'kiss the neckline' goodbye before further falls to the lower levels and the target.
Friday, July 04, 2008
20080704 1609. FKLI July futures is now trading at 1115/1115.5, off lows of 1104.5. Undergoing the expected technical rebound.
Thursday, July 03, 2008
20060703 The message from the exchange at 15:27 states:
"The equities market is suspended from trading for the day....."
Sources say that the exchange was integrating securities to trade on Bursatrade, the new matching engine. The dealers/remisiers are supposed to do a final test this Saturday. So it seems technology has outpaced itself again. FKLI futures traders are happily trading away though.
Message from the Derivatives market system at 14:27 pm.
KINDLY NOTE THAT TRADING IN THE EQUITY MARKET IS STILL UNABLE TO RESUME.
WE WILL UPDATE YOU PERIODICALLY"
FKLI futures trading meanwhile continues, for the high risk takers.
Text from Bernama.com on the non trading in bursamalaysia stocks for the morning session. Catastrophic multiple hardware failure.
"KUALA LUMPUR, July 3 (Bernama) -- Trading on Bursa Malaysia will resume at 2.30pm Thursday after a system failure caused it to close for the entire morning session.
In a statement here today, Bursa Malaysia Securities Bhd said trading would resume from the back-up system at its alternate trading site.
Bursa Malaysia said it would investigate the problem that caused the trading system failure in the morning at its primary site and was working towards resuming trading from the primary site as soon as possible.
Separately, the Securities Commission (SC) said it has been in close communication with Bursa Malaysia following the technical failure in the trading system.
Bursa Malaysia has assured the SC it was working to resolve the situation as quickly as possible.
The SC will continue to monitor developments closely in order for market integrity to be maintained at all times."
Wednesday, July 02, 2008
20080702 Cash KLCI daily chart is deeply oversold, so we are due for a technical rebound. RSI is below the threshold 30 levels. The rebound can be fierce, which explains the narrowing in the discount of July futures to the cash index. Compare to the last 2 instances of a big selloff in the KLCI, will history repeat itself? One thing for sure, catching the falling knife will be high risk, with high reward.
Tuesday, July 01, 2008
"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
THE END OF AN ERA
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
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system