Thursday, September 30, 2010

20100930 0911 Some nice follow through, that is that for the NQ futures....

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20100930 2057 NQ futures 30 min chart breaks out of the triangle pattern after the news release.

Leave emotion out of trading

20100930 1851 Cable 4 hour chart uptrend continues.... And just think back to a couple of weeks ago when dailyfx expert were calling for sell on rallies at 1.5650-1.5700...

Follow the cable story...

I have seen a lot in my years of trading. A trader may be experienced, but yet still make all the rookie errors:

make rude gestures with his fingers at the trading screen when prices turn against his position
Swearing at the imaginary manipulator who took his/her money, basically the original entry and setup was clouded by emotion and wrong anyway, but these traders think they are alays 'right'. Basically the trader is saying "my analysis and view is always right, but 'they' cause me to be wrong', basically not liesening to the market.

One would live life better and have no high blood pressure by not making these rookie mistakes.

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A guide using readily accessible FCPO chart

Futuresource provides a delayed chart... might be useful for those without access to real time chart.

Price action since the migration to globex seems better, the market makes higher highs higher lows in uptrends and vice versa on 15 min timeframe, the market learns ot back and fill....

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20100930 1113 FKLI futures 5 min chart....well, that was a quick one!

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20100930 1107 FKLI Oct 10 futures 5 min chart... Can it breakout to the upside?

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20100930 Sime Darby Bhd, daily chart breaks out of trendline and 200 sma resistance.... will it start trending. Note the triple bottom area where 99% of lay men and even professional fund managers we exiting the stock en masse based on the purported losses from the oil and gas division, which is only a part of the company. Their natural human tendencies were to 'sell at any price' due to their fear.

As Gordon Gecko says "Bears get fed, bulls get fed but pigs get slaughtered' on Wall Street.

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Wednesday, September 29, 2010

20100929 Some 30 min charts of selected stellar stocks.

UEMLand is a standout. I remember in March 2009, a trader friend insisted that this was the stock to be in for the next bull market. We had the same opinion on the bullish stock market to come. Hence he bought a large position in the stock, I think at just below RM1.00. Along the way up he would sell at various levels eg 1.20 1.40 1.60 1.80 but as the price get higher he would buy back the positions he sold at higher prices, until eventually the position became zero in a catastrophic panic sell at around 1.60.... This is an example that parralel's Jesse Livermore's situation, Livermore learnt from his mistake and how he failed to see the wood for the trees... If one is bullish on the stockmarket, it is best to hold and be the sitting bull for the long haul. But remember the value investing principles "Buy when people are fearful and sell when they are greedy" "when you buy a stock, expect it to either go up 50% or drop 33%"

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20100929 1029 Tonight's scalps for NQ futures....

20100929 1715 FKLI futures 30 min chart.... range bound, with the spring coiling.

20100928 The trend on the cable and swissey 4 hr charts are still coming along...

20100928 1245 FKLI Oct 10 futures...... is now above the trendline on the 30 min chart, but price action looks to be sideways consolidation.

20100929 0927 FKLI futures 5 min chart, right at the 30 min trendline.... The morning opening and rise=Larry Williams Oops trade.

Tuesday, September 28, 2010

20100928 JPY futures still roaring up (30 min). Bracing for BOJ intervention tomorrow morning....

20100928 0942 ES futures moves down a few more points....

20100928 0933 ES breaks to downside...

20100928 2143 Emini S&P500 futures, ES is about to break either way. Given the weekly view, we might get a break to the upside...

20100928 1715 FKLI futures 30 min chart, a nice move down after breakout of congestion...

20100928 1245 FKLI futures 30 min pierces the downside support of the triangle...

20100928 0946 FKLI futures 30 min chart, consolidating before the next brekaout...

20100928 0938 Daily dollar yen chart, in a bull flag....

Monday, September 27, 2010

20100927 1715 FKLI futures 30 min chart...

Singapore F1 Grand Prix Sep 26

Not much overtaking, a few incidents, a car on fire near the end and the winners were Alonso, Vettel and Webber in that order. Lewis Hamilton came off second best in a side by side collision with Mark Webber.... but Webber came 3rd in the race. All in all an exciting and spectacular event...


20100927 1330 The Cable is consolidating.... might continue on its merry way?

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20100927 1206 FCPO, has come on a bit since the trendline break on Friday....

Not many takers for the seminar so far...

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20100928 1118 FKLI futures 5 min chart.... seems to have momentum and follow through come back, adding a 30 cci to the setup...

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Sunday, September 26, 2010

Weekly S&P500 and Nasdaq 100 charts

20100926 Inverted H&S formations has targets of 1220 and 2120 for the S&P and Nasd 100 respectively...

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AFL Grand Final was a draw

St Kilda 10.8 (68) Collingwood 9.14 (86), a thrilling match. So, on to the replay next Saturday but this time there will be extra time if it ends in stalemate.

Manchester City beat Chelsea 1-0 thanks to a typically magical goal from Carlos Tevez,, one of the best and fairest soccer players on the planet.


Saturday, September 25, 2010

AFL Grand Final, Singapore Grand Prix, City v Chelsea

Saturday sees the 2010 AFL Grand Final between St Kilda and Collingwood, St Kilda is seeking to win their first premiership flag since 1942.

Mark Weber leads the Championship standings going into the night Singapore Grand Prix.


SEMINAR? Only if there is demand. 2nd, 3rd Oct.

20100925 From Yahoo Finance, Stocks reignite gains as economic woes fade.

Some comments:

"Zahid Siddique, an associate portfolio manager at Gabelli Equity Trust Inc., said traders are only reacting to the latest news because there still isn't certainty about the pace of recovery.

"Based on the daily data they get, they move the market one way or another," Siddique said.?

I just wonder sometimes how the experts make these types of comments. Look at the attached 4 hour chart of the NDX (Nasdaq 100 index), it is clearly in an uptrend, rather than investors reacting day to day economic news....

The DDD (Doomsday Double Dipstickers) like Raubini are ducking for cover now.

Meanwhile, cable closes at the weekly closing high, longs should be maintained...

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Friday, September 24, 2010

20100924 2041 The cable is making another move into new 4 hr highs....

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Bursa Malaysia Recognised By US As Approved Designated Offshore Securities Market

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20100924 1518 Fcpo broke out of the 30 min trendline.... Will it hold?

20100924 1445 FKLI futures 30 min chart in downtrend until further notice...

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20100924 1146 4 hr cable, reaches only 1.5740 before falling back. Still gestating.

Couple of days ago I received an invitation to be a guest speaker at a trader's preview session. If there are enough people interested, I might consider giving the talk. Interested? Leave a comment or email:

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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