Saturday, October 31, 2009

20091030 At the close, S&P500 is down 2.81%. One in an ES futures short position in the retracement would do nicely. The Nasdaq 100 index 60 min chart attached is actually 'cleaner' and a better short than the S&P500, in hindsight.

Friday, October 30, 2009

20091030 2304 A nice analysis of the S&P500 index 60 min chart. (read the two posts (1 and 2) before that) Now, if one had access to trading the ES futures, positions to benefit from this analysis could be taken....

20091030 1231 Was asked to post a 4 hr chart of the FKLI futues... As long as the ma are not crossed, this is just a retracement up.

Thursday, October 29, 2009

20091029 1715 4 hr chart update for FkLI futures today.

Wednesday, October 28, 2009

20091028 1715 FKLi futures 4 hr trend continues the downward path.

20091028 1105 Slightly bigger picture, FKLI futures 4 hr chart, correction still in progress...

20091028 0959 FKLI futures 2 min chart, approaching a retest of yesterday's break down level...

Tuesday, October 27, 2009

20091027 0938 A different perspective on FKLI futures, the 4 hr chart is on a downtrend.....

20091027 0928 FKLI futures 2 min chart, gaps down below the median channel line.... We'd expect a move back to the break down lovel or partial gap fill?? Seems the shit has hit the fan, and the decision to exit the stocks was a prudent one...

Monday, October 26, 2009

20091026 1715 FKLI range only 6 points or 12 ticks. Basically a dying market for scalpers and day traders.... After the bid/ask spread of the stock was reduced, the traders who 'mark' the big blue chips to get a 'desired' index value are out of the market....

20091026 1513 FKLI futures 2 min channel, we decided to change it... market seems resilient, or maybe it is because HK is closed for today....

20091026 0935 FKLI futures 2 min chart setup.... opens inside the down median line channel.

Saturday, October 24, 2009

20091025 I was looking for charts to post and found some weekly charts.
1 FBM KLCI weekly with Fib retracements
2 HL Bank, the stellar performer last week
3 Sime Darby Bhd, the upcoming stellar performer? Depends on cpo prices...

Budget 2010
Lukewarm response to stock market measures, I am sorry, but the remisier model is stone aged. From the comments of 'remisier pinching' the cake is shrinking to the extent that the dogs fight for the scraps.
Real Proerty Gains Tax reimposed. But then, property is not a major sector in the FBM KLCI. And always remember, what the garment giveth it can always taketh away later. In the first place in 2007 RPGT should never have been 'abolished'.
One Malaysia, higher income nation for all equally, but, any measures to ensure the spirit of One Malaysia comes through?
Maximum tax bracket down to 26%. Oh goodie!
RM50 per annum service tax on credit cards. Oh no, credit card junkies will have to trim their collection of credit cards down to 1.... just have one debit card otherwise you won't enjoy the tax relief on the broadband tax relief. The PM has defended this 'hand in the till' action. Best just to keep one card, or just use debit card.

Friday, October 23, 2009

20091023 1715 FKLI futures 2 min remains above the upper median trend channel line at the close. Budget 2010 was a non event...

20091023 1225 It seems that rotation in goreng is in the big cap stocks. After HL Bank the past few days it is Sime Darby Bhd (SIME)'s turn...

Today is Budget day though, normally once the Fin Min starts reading the budget to Parliament, the FKLI sells off. Wonder if that will happen today.

20091023 0955 FKLI 2 min chart.... looks like a bigger picture bull flag, trading right at the upper median channel line.

Thursday, October 22, 2009

20091022 1715 FKLI futures closes weak at 1254.5, low of 1253.

20091022 1521 HLBank makes a parabolic move to a high of 7.94.

20091022 1222 HLBank (5819) continues to trend higher, albeit slowly...

20091021 0940 2 min chart of FKLI futures still in down channel.

Wednesday, October 21, 2009

20091021 2205 GBPUSD (cable) 15 min chart. Somewhere in the world, there is a trend going...

20091021 1715 FKLI futures 2 min chart, closes below the previous support level of 1262...

20091021 1549 HLBank goes on to hit the high of 7.55.

20091021 1108 FKLI futures stops triggered and prints low of 1262...

20091021 1040 How about the 4 hr trend on HLBank stock. In blue sky territory, seems to be trending up.

FKI futures 2 min continues to 'downtrend' after breaking the median channel support. Support may come at 1262-63??

Tuesday, October 20, 2009

20091020 1618 FKLI futures 2 min chart is below median trend channel support...

Monday, October 19, 2009

20091019 Genting Bhd, which we identified as a 'buy' on 23 March 2009 post and the follow up on April 24, 2009, has hit a new high. We are disposing of the stock gradually, as the signs are there of an overextended stock market.

20091019 1715 When the proce reaches the lower median line, it is decision time, best to sell some at close for the FKLI.

20091019 1216 Cash market closed 1259.45 near highs. FKLI fuutres as well. The median line channel may be a good one to manage the longs form this morning.

20091019 1037 FKLI futures 2 min chart. The high probability trade was to long the market on gap down today, given the strong close on Friday. (see last Friday night's post)

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Saturday, October 17, 2009

Salvatore from Malaysia Finance Blog likes Efficient E Solutions and WEIDA, possible trades? Weida looks better as it rests on support.

I just have to post this 4 hour gbpusd chart. A dramatic rise as one site puts it, an understatement for this month.

"The next leg" up materialized for the FBM KLCI (posted Oct 10, 2009) this past week. Looks like bullish conditions, I am wondering if it is time to look for levels to reduce exposure...

Friday, October 16, 2009

20091016 2213 NQ (Nasdaq 100 index) futures are down in correction mode. If the US stock indices end down, given the strong close of FKLI futures, it sets up a high probability trade on Monday morning.

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Happy Deepavali to all.

20091016 1715 FKLI futures breaks out of the down median line channel.

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20091016 0947 A possible new median trend channel for the 2 min FKLI futures chart...

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20091016 0908 FKLI futures 2 min chart. The 42-43 level turned out to be a good level to establish some longs, scalpers profited yesterday, position players reaped more this morning. Too bad we are scalpers....

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Thursday, October 15, 2009

20091015 1659 FKLI futures quoting 1247.5/48, a nice scalp long off the 42/43 level. Meanwhile the cable (gbpusd) is on a nice few day trend up.

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20091015 1606 FKLI futures 2 min chart. 1242-43 provides a buying opportunity. But we must have stops in place.

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20091015 1101 FKLI futures 2 mi chart update. Nothing much to say.... Sometimes in euphoria, one can forget there is such a condition as overbought.

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Wednesday, October 14, 2009

20091014 This is how they screw people in fcpo (5 min chart) a good uptrend is greeted by sudden dive and an auction markdown!

Anyway the 5 min FKLI futures chart is more sedate and shows strong trend day. Right now the Dow and Nasdaq are up close to 1%. If we get a negative close on the Dow, sets up a high probability trade (long) after the opening of FKLi futures tomorrow.

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"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