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
Tuesday, March 31, 2009
Monday, March 30, 2009
Sunday, March 29, 2009
20090329 Malayan Banking Bhd, daily chart shows it has been sold down heavily due to the rights issue..... Whoever is selling is 'forced to sell', maybe Goldman Sachs, Citigroup, UBS, those giants who are now 'run out of capital' and have to put out their hands for 'bailout' form their governments. Anyway whoever is selling created a nice call option on Maybank. I would buy 100 shares in Maybank, then subscribe for the entitlement of rights AND apply for excess shares say 10000, 20000 etc in excess shares... If maybenk is around in 3 to 5 years, hopefully will provide a nice return.\, at least better than the crappy FD rates now.
Friday, March 27, 2009
Thursday, March 26, 2009
Wednesday, March 25, 2009
1422. FKLI futures meanders aimlessly, caused by the 'a rolling market gathers no profits' phenomenon, where those who are wrong 'roll' their positions over to the next month, postponing the realisation of losses.
20090325 0851. FKLI futures opened at 878.5, maybe put in bid to buy at next pivot level 869 or around there for a scalp trade....
Tuesday, March 24, 2009
Monday, March 23, 2009
20090323 Genting Bhd, weekly candle closed above the high of the weekly low candle, indicating the buy signal. Looking to pick up Genting on weakness this week. So much for what most 'experts' who were so quick to put out research notes on how the current equity rally was a 'dead cat bounce'. Another example of the majority views being dashed and dreadfully wrong?
20090323 1715. A nice rally on FKLI futures today. A combination of the expected good news on the TARP programme by the US govt to take the toxic assets off the banks' balance sheets, and the heavy shorts covering on FKLI futures created the 'trend day'. So the 900 contracts short on opening at 840 Friday before last probably cut and ran.
Friday, March 20, 2009
Thursday, March 19, 2009
20090319 Citigroup daily. When the bears get too bearish this is what happens.
As the greedy wolves jumped in for the easy money 2 weeks ago.... they found that there is "no free lunch" in this world. Now they suffer the losses.
Wednesday, March 18, 2009
Tuesday, March 17, 2009
20090317 1514. oh, they saw my post and moved the market up in kiasu fashion! Anyway with the path of least resistance up (15 min) today, they managed to bring FKLI futures to tag the 200 ema on the 15 min chart @ 852.
Monday, March 16, 2009
Saturday, March 14, 2009
20090314 Continuing saga (or shall I say SAGGING) of Maybank share price, due to incompetency of management decisions, destroying shareholder value, and now using public money (EPF)..."EPF has committed to taking up its share of the rights issue". Dived further downwards towards the '35% to 40% discount...of the rights issue price".
Friday, March 13, 2009
The Credit Crunch explained in a (crunched) nutshell
20090313 Hong Kong Exchange is suspending its auction system for determining the closing value for stocks, due to the 24% slide in HSBC on Monday due to a last second order placed during the auction process.
Thursday, March 12, 2009
Wednesday, March 11, 2009
Sunday, March 08, 2009
Listen to CNBC and you will have US1 million today....
".....provided you started with US100 million 12 months ago!"
Jon Stewart Eviscerates CNBC and Rick Santelli - March 4, 2009
Malayan Banking Bhd 4 hour: A classic case of Buy high->Market collapse->Margin call.
FKLI futures 4 hour. The right shoulder of the H&S was an ugly one and liable to ruin any shorts, but that is trading...
Friday, March 06, 2009
Thursday, March 05, 2009
"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