Monday - 12th January 2009
2.00 a.m. - Malaysian Time
Remember the swing strategy? After 7 days of white bars in a row ( from 24th December 2008 to 6th january 2009 ), a reversal bar on the 7th of January did not manage to beat down the lowest of the prior bar ( see chart as enclosed ). The 8th of January's bar also was not able to beat down the 7th of January's bar ( only a partial of it ). So the so-called 'swing strategy ' did not materialise at this point of time.
Today
MPOB ( Malaysian Palm Oil Board ) is expected to release its official cpo's datas for December 2008 today and this announcement may influence the direction of the market in the next few days. So my forecast for today would be as follows ;
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1) If the market opens between 1904 to 1940. Buy after the market has moved up and beat the levels between 1946 to 1952. This would be more significant if the market opens more towards the upper part of the 1904 to 1940 levels. The market may go up further and a white bar could be expected to be formed at the end of the day. On the other hand, sell after the market has managed to beat down the levels between 1893 to 1898 especially if the market opens more towards the lower part of the 1904 to 1940 levels. The market is expected to go further down if these levels are broken and a black bar may be formed today. It also indicates that the swing strategy is operational.
2) If the market opens between 1942 to 1970. Buy after the market has fallen a bit and then moved up passing 5 points above the opening levels.
3) If the market opens between 1880 to 1902. Sell after the market has gone up a bit and then
falls 5 points below the opening level.
4) If the market opens other than the above, it is your call... I have no idea!!!
5) If you are fimiliar with trendlines, you can try your 'expensive' luck here, if not..just forget it.
6) There are a few other matters that you should consider here ;
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a) Do not forget your stop loss. It depends on the volatility of the market. In normal
circumtances, the stop loss should be from 10 to 20 points.
b) Lock up the profits as you see one, the market may go against you at any time. Practise
stop gain as well.
c) If the market opens and moves up/ down in a very fast, steep gradient and also in a 'big
distance' from the opening level, the market may proceed further. If the 'distance' is not
"that big", it could be a false alarm. If so, you can look for a second attempt.
d) For the best result, after opening, the market moves up / down a bit and then moves up /
down passing the opening level to the intended forecasted level.
e) The strategy applies only after the opening hour, it may not be suitable later than that
f) If, after opening, the market moves up / down in a very fast, steep and in a big distance
without moving up/down back to pass up/down the opening level, the market may give a
signal that it would continue its direction
g) The word " bit" is relatif, please refer to my previous postings
If you are not sure, do contact your broker but never the .....Jews or Israelis, they simply cannot be trusted!!!!!
Have a nice trading day.
P/S. Recently, I read a book entitiled The New International Jew by Brigadier
General ( Rtd) Gordon "Jack" Mohr, CPDL. ( original title : Behold The
International Jew ). It relates the International Zionist conspiracy towards
the Christians of the world. I have no comments here, may be you can have the
book by yourself.
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