Sunday, May 30, 2010

20100530 Well, I see that FBM KLCI has had nice follow through since the break of the trendline.... The ugly scenario played out while I was away. Simple tool like the trendline can give insights into market moves.

Saturday, May 22, 2010


20100521 NDX (Nasdaq 100) index 1 min chart, nice gap fill trade.

Daily FBM KLCI is still below the trendline=bearish to sideways.

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Friday, May 21, 2010

20100521 1715 The day in FKLI futures 5 min. Taking next week off.

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20100521 1057 At least good for scalp trade, selling at resistance...

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20100521 1048 Well, the bears are finally coming out of the closet. Hmm, 10 and 40 ema cross, but you'd need to consider the 200 mov avg level.

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20100521 0943 FKLI futures, possible sell zone.... 200 day mov avg comes in around 1260, another key area.

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Thursday, May 20, 2010

20100520 S&P500 is down so far about 3%, retesting the May 06 "Robots in the market" lows.

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20100520 nq futures on a bull bias...

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20100520 1715 FBM KLCI is on the downward track, looking ugly.

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What are they doing?

In case you are not aware, the CME will launch a cash settled US Dollar denominated crude palm oil futures contract next week. We were handed a brochure on the product.

Apparently the CME has has no expenses spared rounds entertaining the brokers of Bursamalaysia Derivatives with lavish parties and events prior to the launching. But what are they doing? They have not even talked to the Local Participants, who are the liquidity providers in the ringgit crude palm oil futures. No discussion on lower commission rates like they enjoy at BMD nor the most important aspect, scratch trades, or margining.

So what are they doing?

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20100520 1656 FKLI futures 5 min chart...

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20100520 0940 Expecting the breakdown level yesterday 1314-15 to provide osme resistance on FKLI futures.

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Wednesday, May 19, 2010

Well, Bursa indices were disrupted for a long period this morning. Even though the exchange made announcement, fkli futures trade should have been suspended. Why was the timing so coincidental that in the down market today, the FBM indices 'conveniently' were disrupted? This is a question Bursa needs to answer, as well as why the futures continue to trade. No accountability means the conspiracy theorists will have a field day...

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20100519 1659 FKLI futures 5 min chart.... FBM KLCI has broken the daily trendline.

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20100519 1217 STW futures continues on...

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20100519 1137 MSCI Twiwan futures rebound from a bit of capitulation selling...

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China Stocks Fall as German Short-Sale Ban Deepens Debt Concern

Well, whenever they come out with such market support schemes, eventually it fails to stem the tide. We have seen it before during the AFC (in Malaysia they designated the 100 stocks comprising the KLCI) and GFC (Global ban on short selling of stocks, markets went on to make new lows before recovering)....

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Tuesday, May 18, 2010


So, the euro has made new highs for the 24 hours. When people speak emotionally like, "The Euro is a dead set SELL" the market will usually prove them dead set wrong.

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The day the machines took over the financial markets

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Recruitment of new Local Participant


I was at the event in Singapore on the weekend, SGX Trader Symposium. Enjoyed it thoroughly, entertaining speakers, interesting topics etc. Objectives of SGX putting this on was to recruit new Trading Member (Locals) and allow traders to 'connect' and network, build comraderie etc.

One striking aspect is the ease of joining SGX as individual trading member, trading on their own account. Unlike Malaysia, which requires '3 years experience in the industry' to qualify there is no requirement in Singapore. When I mention this to the employees of the brokers or anyone down there, they are aghast and then laugh at such conditions.

So, Bursa, SC are you listening?

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Monday, May 17, 2010

20100517 1924 Eur futures, testing highs of the day... actually my friend was telling me "from all the charts, the euro is a SELL". Moral of the story, don't listen to those that do not have any position in the instrument that you form the opinion on. It is truly amazing that the news networks, in their effort to get it 'right' tend to get it 'wrong', because they are reporting on the past.

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20100517 1715 So, now we know the shorts are the 'not so smart' money that piled into shorting the index this morning... that is what you get for fighting the divergence.

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When this sort of news breaks, it signals short term bottom for the eurusd... The news networks inadvertently or deliberately act as klaxxons for the market manipulators...

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20100517 1523 FKLI futures 5 min chart, with the divergence, comes a rebound...

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20100517 1210 Going long the hsi futures on the 'kaputulasi' (capitulation) selling pays dividends...

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20100517 1156 HSI futures, a sign of capitulation and panic selling...

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20100517 1145 FKLI futues 5 min chart, downtrend, but is there any credence on divergence in this small timeframe?

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Friday, May 14, 2010

20100514 0921 Sime Darby Bhd, a heavyweight reports bad result, drags down KLCI...

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Thursday, May 13, 2010

20100513 1536 S&P500 index is coming back to kiss the neckline of the head and shoulders formation. The worst it seems may not be over for th edownside...

Wednesday, May 12, 2010

20100512 NQ futures daily. Well, those who 'bet against Greece' LOST their shirts.... They didn't heed the warning now they are topless...

Tuesday, May 11, 2010

20100511 1715 Daily charts of regional indices. After a up trend day, it was unlikely to have another up trend day...

20100511 1656 Sime Darby Bhd, note how they opened it down 30 sen to suppress the index value at opening...

20100511 S&P500 index, retracing to retest the neckline...

Haha, Mark Faber on Bloomberg TV says, "Short term you can follow the Central Banks' trade, but longer term they are all going to go down the toilet".

Saturday, May 08, 2010

20100508 Charts of the week: 60 min fkli futures path of least resistance=down, S&P500 index H&S.

Friday, May 07, 2010

20100507 Eurjpy 60 min chart, what a move....

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20100507 1134 FKLI futures pulls back to prev support areas...

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20100507 0956 Well, the H&S patten target for the S&P500 is exceeded, plus more.

ES emini S&P500 futures 30 min. I've heard 6 may 2010 described as a day that will go down in infamy due to the crazy trade. Read one trader, Don Miller's account of his day.

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20100507 0932 Dow hourly chart, the day the fat finger error caused program trades that sunk it to lows..

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Thursday, May 06, 2010

20100506 1245 FKLI futues 60 min chart. 20 and 50 ema have crossed down, which indicates the path of lease resistance should be down.

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20100506 0938 FKLI futures 60 min chart.... retracing upwards

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Wednesday, May 05, 2010

20100505 The line in the sand between bears and bulls for the KLCI is drawn.

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20100505 1055 Typical price action on the day after a trend day.

20100505 1007 First target reached...

20100505 0959 MSCI Taiwan futures divergence buy signal on 2 min chart.

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Tuesday, May 04, 2010

20100504 S&P500 index looks like it might close below the neckline tonight.

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20100504 1718 Fcpo futures 1 min chart... break of support.

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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

fcpo.blogspot.com

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
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system