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
Wednesday, September 30, 2009
Tuesday, September 29, 2009
Monday, September 28, 2009
Friday, September 25, 2009
Thursday, September 24, 2009
20090924 1708 Had small move down to the low of 1216, now trades 1218 for FKLI futures.... nothing to shout about in this lethargic market.
I read with interest the article Bursa-CME tie up positive but effect not quantifiable for now. So it involves FCPO only. My question is if Bursa is going to pay a fee for Globex use, why not have tie up in index futures as well. Oh and by the way, let cme local and bursa locals have reciprocal trading rights??
Oh and the article is talking about Mayban Investment Bank's research. A bit ironic seeing Mayban Inv Bank has no futures broking arm, if you remember they gave up on that business many years ago...... How can they call themselves an Investment Bank without futures broking arm?
Wednesday, September 23, 2009
Sunday, September 20, 2009
Selamat Hari Raya Aidilfitri
To all the Muslim readers and friends, Selamat Hari Raya!!
Meanwhile read the news on Bursamalaysia's share price after CME tie up announcement.
In addtion, just have to post the daily chart of Genting Bhd, a prime example of the adage 'previous resistance becomes support'. Been very good for the technical traders recently.
Friday, September 18, 2009
What is driving the equities bull market?
The short answer to the above question is the USD carry trade. Because of the zero or near zero interest rate stance by the Fed, the US dollar has now become the funding currency for the carry trade, where traders borrow usd and buy currencies or assets that yield higher than the cost to repay the borrowed US dollar interest rate.
If you look at the two charts (5 min) of the euro futures and emini S&P 500 futures, you see a tick for tick correlation, when the US stock market is open. In this case the USD strengtherned, so equities fall, as some carry trades are unwound.
So when will the bull market end? No one knows, but when you see the USD gaining strength, equities will fall....
Gold futures retreats in the past 1/2 day
From thestar.com.my, "Malaysians invested uS14 bn abroad last year"
Thursday, September 17, 2009
20090917 1647 FKLI futures breaks down off the median line channel. The star online today reported that CME is acquiring 25% stake in Bursamalaysia Derivatives. So is that why the fcpo volume past few days had been churning heavily.... to impress CME to take up the stake?
Wednesday, September 16, 2009
20090916 1715 FKLI futures 2 min chart. It seems the upper median line was the price to take profits on longs or scalp some shorts, with the aid of hindsight. Today the Bloomberg TV is mentioning that one year ago, AIG was taken over by the Federal govt, and yesterday it was the one year anniversary of the Lehman collapse. I think we should forget about the past and MOVE forward....
1756 FCPO futures volume for Dec 09 contract now stands at 13409, while FKLI today traded 4381. Palm oil is attracting the players, while FKLI is reduced to a 'dog following the tail(FBM KLCI cash index)'
Monday, September 14, 2009
Saturday, September 12, 2009
Friday, September 11, 2009
20090911 0945 FKLI futures 2 min chart. Traders who stepped in to buy the previous breakout level of 1206 yesterday can see some daylight today.
Some news items for today:
Ex Morgan Stanley banker found guilty of insider trading
China to stay the course on stimulus: Wen
US starts to unwind state bank support
Thursday, September 10, 2009
Wednesday, September 09, 2009
Tuesday, September 08, 2009
Monday, September 07, 2009
20090907 2152. AUDJPY pair continues to move up today, following on from the weekend pick.
20090907 1245. There have been cries from the traders on the FKLI futures that the market is untradable, no trends due to the change in the bid/ask of the component stocks. But hey if you look at this 15 min chart, is this an trendless market? Maybe they cannot mark the stocks now to manipulate the index value using the previously chasm like bid/ask on the stocks, that is why they cannot trade now.... If you want to put any views so that Bursamalaysia, SC, MOF or the powers that be can read (hopefully) feel free to comment below.
Sunday, September 06, 2009
The best Ipoh Koay Teow in KL. (sorry is non halal food)
The old restaurant
New location for 'Pau Kee'
Ipoh Koay Teow (forgive the poor image quality)
The Changs, who wer in Jln Tong Shin (Ching Hai restaurant) have moved to new premises in Jalan Imbi. Honestly, I think their Ipoh Koay Teow soup is the best outside of Ipoh, they have wanton mee which ain't bad too!(best wanton in town) Address is on the attached map.
Other bloggers like it too:
You Get What You Give
"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