Monday, February 18, 2008

What's on on Tuesday

18 Feb 2008
11.55 p.m. - Malaysia Time Zone

Today the market open at 3508 ( May contract ) and closed at 3599. The highest was at 3600 and the lowest was at 3508.
I have no comment on that.

As for Tuesday, I would like to say that the market is still in bulish sentiment. As I said earlier on , my strategy focuses more on the early part of the opening rather than closing. So if the market tomorrow is to close a black bar, it would make no different to the strategy;

1) Take position only if the market opens between 3534 to 3627
2) If the market does not open within these points or no position is to be taken even if the market opens within these points, then , during the trading, look for a clear formation of the trendlines which are familiar to you.

1.1) If the market opens between 3534 to 3627, put a buy position when the market retraces to a level of 12 to 20 points from the opening. If the market moves down at a very fast rate, just be very careful.It may make you to buy at the wrong position and probably you might have to execute your stop loss position ( In this case, experience plays an important part here )

1.1) If the market opens above 3627 , the market may retrace down. If not sure what to do next , just stay out of the market.

1.2) If the market opens below 3534 and later starts to move and passing down the points between 3522 to 3517, it may lead to a further fall in the futures's prices. If the market opens at any point between 3534 to 3627 , especially if it is near to the lower end, and then starts to decend down between 3522 to 3517 and below, the market may decend further down.

As I mentioned earlier, this is only a forecast, I could be wrong and I have been wrong for quite a number of times. If you have any doubt, please consult your broker.

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