Monday, October 26, 2009

CPO Direction Today

Last Thursday, the market open at 2203 which was far above the forecasted levels, so will today's market opening will show almost the same scenario? If you look at last Friday's performance on Soy Bean Oil futures ( CBOT market), the market has shown sign of retracement. Will this retracement have an impact on Malaysia CPO's market? Hard to say right? Unless if you have some kind of psychic power, off course. If you do, you could have been a millionaire by this time, don't you think so?

Today

After opening strategy

1) If the market opens between 2227 to 2237. Sell after the market has dropped to pass down the levels between 2217 to 2222. If the market manages to pass down the levels between 2200 to 2204, the market may fall further down.
2) If the market opens between 2238 to 2247. Buy after the market has moved up passing the levels between 2248 to 2253. Be careful here as the market may fall back in due time.
3) If the market opens between 2215 to 2226. Sell after the market has moved up a bit and then falls 5 points below the opening level.

OR ( before 11.40 a.m )

4) If the market opens between 2227 to 2247.
4.1 Buy after the market has moved up beating the levels between 2248 to 2252 and then drops to the levels between 2234 to 2240.
4.2 Sell after the market has dropped passing down the levels between 2221 to 2226 and then moves up to the levels between 2234 to 2240.
5) If the market opens between 2248 to 2260. Buy after the market has fallen to the levels between 2234 to 224o.
6) If the market opens between 2213 to 2226. Sell after the market has moved up to the levels between 2234 to 2240.
7) As usual, if the market opens other than the above, it is your call....
8) Also refer to my posting dated 12th January , see #6


If uncertain, just contact your dealer, who else? Your uncle?


Have a nice trading day, Mike.......


P/s Cross your fingers this time, Mike....


8.30am

1 comment:

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