Tuesday - 3rd February 2009
9.00 a.m. - Malaysia Time
Last Friday, the market for CPO ( crude palm oil ) closed higher while the soya bean's futures were traded low at CBOT. Yesterday the market was closed because it was a public holiday. So where is the direction for today's market?
In the long run, the market is still bearish but in the very very short run, the market is bullish, so the forecast for today is something like this;
1) If the market opens between 1748 to 1769. Buy after the market has dropped 7 points from the opening level. As usual, just be careful about the false alarm and do not forget your stop loss.
2) If the market opens between 1770 to 1779. Buy after the market has moved up between 1783 to 1788.
3) If the market opens between 1738 to 1747. Sell after the market has beaten down the levels between 173o 1734. The market may fall further if the level between 1712to 1716 are broken down and a black bar may be formed today.
4) If the market opens between 1715 to 1737. Sell after the market has moved up a bit and then falls 5 points below the opening level.
5) If the market opens between 1780 to 1803. Buy after the market has dropped a bit and then moves up 5 points passing the opening level. Any profits, just lock them up!
6) If the market opens other than the above, it is your call. You can do whatever you like!!!!Trade , go out, watching tv or just like what I have mentioned ....whatever.
7) Also look for trendlines.......
8) Please refer to 12th January's post ( see # 6 )
Ok, that's about it. If you are not sure, just contact your dealer/broker or may be you can contact the President of United States, Ehud Olmert. ( Who is Barrack Obama, anyway! )
Have a nice trading day, guys......