Wednesday, November 30, 2011

20111130 Concerted central bank interest rate cut.... Santa Claus rally underway? ES futures 15 min.

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20111130 FCPO futures downtrend on the 30 min timeframe continues...

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20111130 FKLI futures 30 min, spot month settles around 1459.... but the action was on Dec FKLI, closes at 1477.50!!

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S&P cuto credit ratings of US banks, machine gun rat a tat style, American Airlines (AMR) filed for bankruptcy Ch11...... but they raised China ICBC and Construction Bank ratings.... Maybe a chance to go long spot month FKLI futures if there is a significant discount?

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Tuesday, November 29, 2011

It is not a casino


One of the junior traders in the firm walked into our room, just as cpo futures closed today and exclaimed, "Wah, dropped down into the lows." This is exactly the way not to approach the markets. If you treat it like you are at a Blackjack table at a casino, and whoop and yell, sipping alcohol and having a good time.... the inevitable conclusion is loss of all your betting stake.

Likewise in trading, keep your emotions in check and treat it like a business...

The trade yesterday and today in the markets is 'risk on', Aussie, Euro and indices are rallying.... while palm oil is doing the opposite, what else is new?

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20111129 FKLI futures 30 min, still on uptrend.... just....

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In the words of market wizard Jim Rogers, "The ratings agencies are a joke". Now they failed to bankrupt the markets with single bank and country downgrades, they turn to mass downgrades bazooka style...

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20111129 FKLI futures 30 min, triangular breakout.... projected target 1468?

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20111129 FCPO futures 30 min, an obvious downtrend....

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20111129 FKLI futures opens and trades to the upper triangle line. A bad day for shorts who held overnight. Whenever there is a long holiday break for the local market, the price has a tendency to gap up on resumption of trading.

Monday, November 28, 2011

Liverpool 1-1 Manchester City

It was as expected, a draw between Man City and Liverpool. Did not watch the match but apparently Kompany scored for City and Lescott did likewise with an own goal to provide Liverpool with the equaliser. Firebrand Balotelli was sent off too...

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Saturday, November 26, 2011



From Brian McAboy's "The Subtle Trap of Trading", he lists 39 mistakes in trading, which states,

"21. Trading the opinion of others (e.g. market direction)
This one is analogous to the previous mistake, except that now we're
talking about listening to the opinions of others with regards to the
direction of the market.
Remember, everyone has their own perspective. Your indicators and
information may be saying the market is bullish, when you hear someone
else say that they think the market is bearish.
Again, stick to your own information and indicators. It's okay to listen to
others, but filter the information before you act on it. Stick with what
you know."

The so called experts have a right to their opinion. If you ask me, they are more interested i the 'face' of having the right 'guru opinion' because they crave fame or are trying to impress in order to attract 'managed monty', thereby earning commission, management fee etc.

When commodities are rising, guru Jim Rogers will come out on Bloomberg and CNBC espousing his 'correctness' in predicting the commodities boom.
When the markets are tanking due to Eurozone debt concerns, GloomBoomDoom.com merchant Marc Faber will esouse his 'correctness' in prediction the crash in equity markets. More subscriptions to his report and more fees.
When equities tank on some 'event', Mark Mobius will espouse his view that 'buying stocks at good value', in order to get more manged money to earn more management fees for Tembleton...

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After their disastrous European Champions League loss in midweek, can Mancini's Manchester City bounce back against Kenny Dalglish's Liverpool side? David Silva and Luis Suarez are among the key players...

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Friday, November 25, 2011

20111125 ES futures, a ice move up..

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20111125 5 min ES futures. There is a bullish seasonal tendency for US stock markets in the 'Black Friday' after the Thanksgiving holiday.

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20111125 FKLI futures 30 min, triangle break?

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20111125 FKLI futures 30 min, upper downtrendline limited gains.... forming a triangle now.

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Thursday, November 24, 2011

20111124 A look at the daily FBM KLCI.

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20111124 5 min FCPO futures...

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20111124 FKLI futures 30 min, 1447 target for the breakout move hit in the last minute of trading...

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20111124 An update on the cunning plan to use daily 18 period sma support to scalp longs...

20111124 FKLI futures pokes above the top level of the box, false breakout? or is it for real?

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Well, what do you do when you are heavily short the markets?

Call up your friends at a ratings agency, to put out a something like this. Actually either you downgrade or not down grade, now they come out with another tool, news on 'may downgrade'.

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20111124 FCPO futures, trade of the day was to long at 3100. As short term traders, we are looking for the trade that is simple with most common sense. 3100 was the level of the 18 period sma on the daily chart....

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Wednesday, November 23, 2011

20111123 FKLI futures, still within the trading range of the box...

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20111123 FKLI futures 30 min, in a box 1407 to 1427..... Poised to move out on breakouts?

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Tuesday, November 22, 2011

20111122 Harvest limit down again today after 2 days rebound. Being designated means traders shoud avoid this stock Those who tried to pick the bottom may have seen some unrealised profits, but were unable to sell due to having no scrip in the cds account. The 2 prior days' rebound was frivolous...

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20111122 FKLI futures, gap trade long at 1413....

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20111122 Majority of the 30 min FKLI futures candles are bullish, but resistance around 1428...

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Monday, November 21, 2011


The Star




SEA Games football final - penalty shoot-out: Baddrol Bakhtiar scores winning goal. Malaysia are SEA Games champs again.

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20111121 FKLI futures 30 min, gaps down at 1433.50. Downtrendline still dominant...

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Chelsea 1-2 Liverpool

Done in by an old boy, Glen Johnson.....

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Sunday, November 20, 2011

The USA team retains its grip on the President's Cup, being too good for the international team, 19-15 at Royal Melbourne Golf Course.

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Friday, November 18, 2011

20111118 FKLI futures 30 min, hits the target of 1445 in the afternoon session...

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20111118 Well, after being designated by Bursa, Harvest went limit down two consecutive days. And today there are traders buying and selling in a wide range. To me this is highly suspect, as if one were to buy the shares (cash upfront) at say 0.95, you would 'see' a nice profit when the shares high RM1.20, but wait.... without the scrip in the cds account you cannot even sell to take profit. Henceforth the buying and selling are very obviously suspiciously contrived...

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20111118 FKLI futures 30 min, low print of 1447.50...

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Thursday, November 17, 2011

20111117 I overheard someone say today, "Oh, downtrend in fcpo futures, I just knew it...' This was after the market made its move down and closed... Mr Harry Hindsight is the only one with 20/20 vision of future market movement (sorry he is not listed in the Yellow Pages)... no one else. 5 min fcpo futures, reversed into a nice trend down...

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20111117 FKLI futures 30 min, still on the downward track, down trendline governs....

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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