Saturday, July 31, 2010

A good day to visit the Semonggoh Orang Utan Rehab Centre, just out of Kuching. Nice to see these apes swinging from tree to tree....

The hotel has broadband at RM15 per hour to max of RM35 per s4 hours. But I  dialled *100# on Maxis mobile and subscribed tot he '1 day pass' up to 500Mb of data. A cheap albeit slightly slower alternative than paying for broadband in the hotel. Cool!

Thursday, July 29, 2010

Swans up against it to stay in top 8

After a 73 point shellacking by the Melbourne demons last weekend, the Swans are up aginst it, having to face a top 8 team, Geelong Cats albeit at home this weekend. At stake is the stay in the finals spots. Good luck!

Will be away from trading tomorrow and Monday.(pic: Adam Goodes, Sydney swans)

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20100729 4 hour Eurusd, uptrend progresses... since the call.

fcpo futures breaks down off the triangle...

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20100729 1715 FKLI futures, breaks up off the consolidation.... in the last 30 min of trading.



Oh, and the cash KLCI was manipulated from closing higher than it did by fixing of the share price of Petronas Gas from 10.35 to 9.90 at the auction....

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Every stock market bull, has its heroes.... like Teh Soon Seng.(Aokam) Maybe this bull run we need a 'tycoon' such as Teak Jho Low to appear in corporate manoeuvres, as well as Paris Hilton manoeuvres....

At the very least, the hoo hah has made this 'tycoon' an overnight well known personality.... a rip roaring PR success.

In The Star interview, Teak did mention on plans to bring in Mid East investors....

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20100729 1524 A triangle on the 15 min Oct Crude palm oil futures....

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MBSB

Following on from the earlier post, the stock hit 1.50 yesterday...

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20100729 1043 FKLI futures 30 min chart... Moving avg are flat, seems range bound.

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Wednesday, July 28, 2010

20100728 Robust IPO debut market for Ivory Properties.... Market bull is in place it seems.

30 min FKLI futures retraces into the moving averages. Settlement looms, so might be range bound?





Chasing the market.... using borrowed money. All the tenets and principles of good investing thrown out the window by Khazanah. What sort of rationale justifies chasing an ever higher purchase price? In the end interest expense will kill any potential good returns.

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20100728 1000 FKLI futures 30 min chart, shows support at 1350-51, below could be negative short term.

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Trading as a business




The odds are stacked against the small trader, trying to make it.... A video by Don Miller on trading failure

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End of an era?


Yao Ming could quit, if his troublesome foot injury does not get better. A Pity because the NBA needs him to represent Asia.

Tuesday, July 27, 2010

Learning how to become a successful trader


I was asked today on how one can become a successful trader, what technical indicators to use, what method works best.

It so happened that one of my trading companions sent me something on the same subject. There are 3 of us in the room, we call ourselves 'The Bralerhood'. Anyway this is a comment that the blogger eminiplayer copied and posted in his blog, from another trader, Ziad. Succinct and very poignant words, basically to be successful, it is not a case of the magic setup, indicator or potion, but through a hard process of observation, doing, making mistakes, observation etc etc until one gets to know the markets and embrace the uncertainty and ambiguity that comes with participation in these 'herds' that are made up of bulls and bears. And the bralerhood agrees with Ziad whole heartedly.

Read Ziad's take on how to become a successful trader, as posted by eminiplayer.

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20100727 1556 When the cash KLCI went below 1350, the trigger to long fkli futures, would result in nice gain on the rebound.



20100727 1146 FKLI futures daily chart, with moving averages that provide structure.

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20100727 0931 Cash KLCI trades above 1350 at 1356. FKLI futures gapped and broke the bull flag formation. If KLCI retrades to 1350, considered a good buying opportunity...

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Monday, July 26, 2010

20100726 1715 FKLI futures low was only 1351.50, cash KLCI settles above 1350.

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20100726 1245 FKLI briefly stabs down to 1342.50, nothing to shout about.

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Well done, one of the legends of golf, Germany's Bernhard Langer wins the Senior Open Championship.

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20100726 1114 FKLI futures 5 min chart turns down.... Inertia (mov avg) and momentum (macd histogram) lines up.

Update: 1153 Couple of ticks movement, that was about it...

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Saturday, July 24, 2010

Tour de France decider

2010 Tour de France contenders Luxembourg's Andy Schlek and Spain's Alberto Contadur will square off in the 52 km time trial (individual) to see who will win this year's tour tonight. Contadur has the yellow jersey and a 8 sec lead, but is the better time trialist, looking odds on to take the lead into the final stage into Paris. The leader is not attacked in the final stage by tradition, so whoever is in yellow will win the Tour.

Oh and Aussie Cadel Evans has been out of reckoning for many stages now, due to riding with an elbow fracture.





UPDATE: The penultimate stage saw Fabian Cancellara of Switzerland, the world time trial champion take the stage, but Alberto Contadur virtually sealed the Tour de France wil, by extending his 8 sec lead to 39 sec over Andy Schleck.

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20100723 FKLI futures daily chart with the key moving averages.(week ending 17/7/2010)

Friday, July 23, 2010

20100723 1715 FKLI futures 5 min chart for the day... a trend day. The VIX is a guide against shorting the index markets.

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20100723 1245 FKLI futures just managed to hit 1343.5 before moving up agin off the value moving average.

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20100723 0912 Cash KLCI now at 1341.99. We are looking at the 22 ema on the 5 min FKLI futures for support, possibly to go long...

Thursday, July 22, 2010

20100722 2304 ES futures makes the parabolic extension... An awareness of the Vix index keeps one out of the short side at least.

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20100722 2142 ES futures (2 min chart) continues the rally from premarket trading.

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20100722 1715 FKLi futures drifts down only to 1338, last min rebound. 4 hour chart technicals still not damaged yet.

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20100722 1050 With the VIX still closing below 30, chances of a big plunge have diminished, unless volatility increases above 30. Above 30 level, then chances of falling knives market increases, at least that is the theory.

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20100722 0948 Looking like FKLI futures might follow the regional bourses drift down...

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Plantations: buy the laggards?

20100722 Laggards? Or is it a bad day to buy anything?

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20100721 FKLI futures daily continuation chart. Key moving averages: 50 ema seems to point ot uptrend...

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Wednesday, July 21, 2010

MBSB

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20100721 5 day chart of the VIX index, a measure of volatility. Falling to its low level oculd mean a continuation of the rally on US equities...

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20100721 1245 FKLI futures 5 min chart, momentum turned down mid morning, leads to a small correction. Support levels beckon.

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30200732 0953 26 min S&P500 cash index chart. What a reversal!

5 min FKLI chart: FKLI futures trades above resistance at 1342, now becomes 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