Tuesday, June 30, 2009

CPO 1st July 2009

As yesterday.
CPO, sell position still holding. stop order was not triggered.
CPO, another sell position triggered.
stop change to 2275. ( hourly bar chart closing )

Result: Position increase, correct, Make Money

For CPO,
Resistance seen at 2275 and 2250. if break 2250, all short position cleared.
Expect CPO would traded wide range.

If CPO price gap up above 2250, expect some major rebound. next resistance 2275 and 2318
If CPO gap down lower than 2209, expect CPO would plunge where 2209 become resistance, + - 10 point.

FKLI 1st July 2009

As yesterday,
FKLI, sell position triggered. Position hold for overnight.
stop loss still remain at 1082 ( only valid if hourly bar closing above 1082, not on 1082.)

Result: Correct, Make money.

For FKLI
Yesterday daily chart close at Dark Cloud formation but volume was considered less to be more effective.
Doji on previous 2 trading days still valid.

Outlook:
Bear rally. Short.
Expect FKLI would be a wild market for tomorrow.

Strategy for tomorrow
IF tmr FKLI gap up, July contract, if not above 1082, short position remain. Fresh Short position is encourage but place cut loss on 1082 (hourly bar closing, not the high and low)

IF tmr FKLI gap up, July contract, above 1082, all short position cleared.

IF tmr FKLI gap down, be extra alert if FKLI stopped at 1059, 1051.5 and 1042. Fresh short position is encourage.

Thing to observe,
Tonight Dow Jones index.
Tuesday kicks off the week with the Chicago PMI and the Consumer confidence reading.

Tomorrow morning Nikkei Indices

Overnight crude oil and soybean oil closing.

Monday, June 29, 2009

CPO 30th June 2009

As yesterday,
Sell signal triggered, holding short position
while stop remain at Rm2333 ( upon hourly bar chart closing )

Long position: not occur as outlook was aim to short.

CPO,
CPO price seems 15min bottomed at RM2242. Hit target.
Outlook : Short

Strategy for tomorrow:
if CPO gap up, higher 2310, stay out
if CPO gap up, around 2280, consider short, cut loss RM2310, ( uponly hourly bar chart closing)
if CPO gap down, continue short, but don't add position. market might rebound slightly.
however, we aim CPO profit target on long term basis is RM2100 and Rm1950.

FKLI for 30th June 2009

As yesterday,
Sell signal was not triggered, no sell position on hold.
Long position: not occur as outlook was aim to short.

Result: safe from slaughtering.

For FKLI,
previous days forms Doji but today breaks new high.
outlook: Short

strategy for tomorrow.
if tomorrow FKLI gap up, higher than 1082, lower than 1094, stay out.
if tomorrow FKLI gap up, traded higher than 1094, stay out, - outlook turn bullish ( can try to long but cut loss around 1090 or 2 hourly bar low.)
if tomorow, FKLI traded lower than 1074, looking to short , cut loss would 1082.

things to observe,
Monday Dow Jones don't have special report
Tuesday kicks off the week with the Chicago PMI and the Consumer confidence reading. Wednesday: ADP employment, ISM manufacturing, Construction spending and Auto sales. Thursday the regular weekly Jobless claims, along with Non-farm payrolls, the Unemployment rate (10%?), and Factory orders.
Friday is a holiday in the States, Independence day

Tomorrow morning Nikkie index.

Sunday, June 28, 2009

CPO price trading

We aim for holding short position
1st short signal if RM2298 break.
2nd confirm short short signal if RM2231 break.
Profit target for longer term is RM2093 and RM1930 regions.
Cut loss if hourly bar closed above RM2333. Not high above RM2333

* This cpo sell down would be the last sell down according to wave count.
*It's possible CPO would reverse trend to bull trend once either 1 profit target reach.

Possibilities of CPO trading
1st option,
CPO price traded above RM2350, suggest to stay out from the market
CPO next resistance RM2377, if RM2377 were violated, it's possible bull rally comes to the picture. but, suggest to stay out, wait for clearer picture. Long position is not recommended.

2nd option,
CPO price trade lower than RM2298, try to short 30% of the total intended amount. Cut loss still remain on hourly bar closing at RM2333.
For FKLI
first sell signal if 1075.5 was break
second confirm sell signal if 1072 break
cut loss at 1081
profit levels for tomorrow seen at 1062.

things to observe at 8.30am is Nikkei need to traded on negative zone.
further strong indication is crude oil and soybean oil electronic traded negative as well

possibilities
1st option,
if market supported above 1072, and break new high (1081.5) then we aim for 1094, despite break 1092 levels, 1094 is the previous price target. we call long if FKLI were traded higher than 1094 and never trade lower than 1090.

2nd option,
if market break 1062?
if this is the case, then i think market is confirm traded on Wave C.
aiming longer term profit target at 1030 or 993 regions.
However, FKLI might be traded volatile during trading session due to minor sub wave during trading session. Cut loss order at 1080 still remain there.