Stuck?

The CPO ( Crude Pal Oil ) futures for Jun contract open at 2556 and closed at 2575 yesterday. The highest was at 2579 and the lowest was at 2551. The market ended higher with a white bar and was sellers' market.

Based on my forecast yesterday, the market open within one of the suggested forecasts but the movement of the market was on different direction.

The market, currently, is in the state of 'stucking'( sidelines) between the levels 2520 to 2610. If either one of these levels are breached, a new direction is expected to be experienced ( see enclosed graph ).

Today

My forecast;

1) If the market opens between 2561 to 2568. Sell after the market has retaraced passing down the levels between 2550 to 2555. More significant if the market opens more towards the lower level of the 2561-to-2568 levels.
2) If the market opens between 2551 to 2560. Sell after the market has fallen passing the levels between 2540 to 2545.
3) If the market opens between 2533 to 2545. Sell after the market has moved up a bit and then falls 5 points below the opening level.
4) If the market opens between 2605 to 2615. Buy after the market has dropped a bit and then moves up passing 5 points above the opening level.
5) If the market opens between 2570 to 2584. I don't know but I think the market may end a black bar today or at least in either session ( black bar in the morning session or black bar in the afternoon or black bars in both morning and afternoon sessions)
6) If the market opens other then the above....
7) Also refer to my posting dated 11th January, see #6

If you are not sure...blahblahblahblah...


Have a nice trading day, guys...


9.06am

Still Hot

The CPO ( Crude Palm Oil ) futures for Jun contract open at 2585 and closed at 2560 yesterday. The highest was at 2595 and the lowest was at 2549. The market ended lower with a black bar.

The wheather in Kuala Lumpur is still hot with the rain that sometimes falls not on regular basis.The water level in some of the catchment areas in the Kinta Valley are reported to have experienced the fall in its normal height.

Yesterday, the market open but not within any of the suggested forecasts.

Today

The forecast ;
1) If the market opens between 2549 to 2556. Sell after the market has dropped passing down the levels between 2539 to 2544. If the market manages to fall below 2523, the market may fall further down.
2) If the market opens between 2535 to 2544. Sell after the market has moved up a bit and than falls 5 points below the opening level.
3) If the market opens between 2570 to 2580. Buy after the market has moved up passing the levels between 2585 to 2590. Make sure your stop loss is about 25 points this time.
3) If the market opens between 2590 to 2600. Buy after the market has moved up passing the levels between 2605 to 2610.
4) If the market opens between 2605 to 2613. Buy after the market has dropped a bit and then moves up 5 points above the opening level.
5) Other than the above, it,s your call
6) Also refer to my posting dated 11th January, see #6

As usual, if not sure....don't do anything...or do something...


Have a nice trading day, guys...

9.13am

Next Move

The CPO ( Crude Palm Oil) futures for Jun contract open at 2589 and closed at 2591. The highest was at 2597 and the lowest was at 2571. The market ended higher with a white bar.

After the opening at 2589, the market immediately dropped to 2581 and bounced back to 2597, the highest of the day. At about 10.40a.m., the market started to retrace to 2576 before closing at 2582 for lunch break. In the afternoon, the market open at 2582, immediately dropped to 2571, bounced back and started to climb to 2597 before finally settled at 2591.

If you look at my forecast yesterday,see #4, and had placed a buy position here, say at 2594 , you would have definitely ended up losing your money even if your stop loss was 20 points below the buy position. Well, you can't win the all!

Today

My forecast for today;

If the market opens;
1.1) Between 2573 to 2584. Sell after the market has retraced passing down the levels between 2562 to 2567.
1.2) Between 2590 to 2600. Buy after the market has moved passing up the levels between 2605 to 2610.
1.3) Between 2605 to 2617. Buy after the market has dropped a bit and then moves up passing 5 points above the opening level.
1.4) Between 2556 to 2567. Sell after the market has moved up abit and then falls 5 points below the opening level.
1.5) Other than the above. It is up to you.....

2)Also refer to my posting dated 11th January, see #6.

If you are not sure, just contact your...whoever...


Have a nice trading day, Mike


8.57am

Where's Next

Lately, every where you go within Malaysia, especially if you go for a vacation, people are talking about the current hot climatic situation. Even if your house is equipped with the air conditioned gadgets, the hotness is still felt greatly. If you are to go for a vacation, the best place to retreat is the beach or the cooler highland areas. Will this 'normal' phenomena which is currently facing the country have an effect on the oil palm production? I don't know, may be.

Today

The forecast:

1) If the market opens between 2570 to 2579. Buy after the market has moved up passing the level 2585. More significant if the market opens more towards the upper level of the 2570-to-2579 levels.
2) If the market opens between 2566 to 2576. Sell after the market has retraced passing down the level 2561. More significant if the market opens more towards the lower level of the 2566-to-2576 levels.
3) If the market opens between 2551 to 2561. Sell after the market has moved up a bit and then falls 5 points below the opening level.
4) If the market opens between 2588 to 2594. Buy after the market has dropped a bit and then moves up passing 5 points above the opening level. More significant if the market opens more towards the lower level of the 2588-to-2594 levels.
5) If the market opens other than the above....it is your call..who else?
6) Also refer to my posting dated 11th January, see #6.

Any way, if you are uncertain....just call your dealer...I have no part of it.


Have a nice trading day guys...

P/S Hai MJ

9.30am

Another Correction?

Yesterday the CPO ( Crude Palm Oil) futures for May contract open at 2670 and closed at 2685. The highest was at 2719 and the lowest was at 2654. The market ended higher with a white bar.

The market open at 2670 at 10.30a.m. and immediately moved up to 2679. From 10.32a.m. to 10.35a.m., the market linggered between 2673 to 2689 ( highest of the morning session).The market then dropped to 2654, the lowest of the day, before closing at 2660 for lunch break. In the afternoon, the market open at 2666, retraced a bit and bounced up to finally settle at 2685.

If you look at my forecast yesterday, see #2, and were able to place a sell position, say at 2681, you would have been able to make a maximum profits of 25 points if you decided to close the position before lunch. If you decided to prolong to after lunch, your profits could have been less than 25 points because the market rebounded back after touching the lowest point of 2657 at about 3.10p.m.

Since the school holidays will be approaching next week, I will not be 'around' for a while. I am planning to go elsewhere with my family.

Have a nice trading day, guys....

8.56am

Another Correction?

Yesterday the market ended lower with a long black bar with a 59 points down. Does this long bar indicate that the market is going down at this point of time for a while or just another correction before the market is to go up again. Some analysts said the market was down due to the fall of crude oil futures below the psychological price of US80 per barrel. If you ask me ? I would say , "I don't know, Mike".
The market on Monday open within one of the forecasted suggestions but did not move accordingly.

Today

The forecast for today;

If the market opens between:
1) 2697 to 2709. Buy after the market has moved passing up the levels between 2715 to 2723. If the market manages to beat up the level above 2730, the market may go further up. More significant if the market opens more towards the upper level of the 2697-to-2709 levels.
2) 2661 to 2696. Sell after the market has moved up 11 points above the opening level.
3) 2650 to 2660. Sell after the market has retraced passing down the levels between 2638 to 2644. More significant if the market opens more towards the lower end of the 2650-to-2660 levels.
4) 2634 to 2639. Sell after the market has moved up a bit and then falls 5 points below the opening level.
5) If the market opens other than the above, it is your call... I don't know guys, I still have not found the mechanism to place a position here yet.
6) If you are not sure , just contact your broker but not your brother-in-laws, they simply do not agree with you for being in this CPO futures market.

That's about it.

Have a nice trading day...Mike....( Australians prefer to use the word 'Mike' rather than 'guy'. Am I right?)


8.56am
9.16am - a little bit of updating

New Heading ?

Last week, the market has been on upwards movement except on Tuesday where the market ended lower with a black bar. So where will the market be heading to right now? Some say the market may move further up in response to the upwards movement of the crude oil and also the soy bean oil in the overseas market. If you ask me? I don't know guys.

Today

My forecast for today;

If the market opens between:
1) 2669 to 2680. Sell if the market falls passing down the levels between 2659 to 2664. More significant if the market opens more towards the lower part of the levels 2669-to-2680.
2) 2650 to 2664. Sell after the market has moved up a bit and then falls 5 points below the opening level.
3) If the market opens other than the above, it is simply is your call.
4) Also refer to my postings dated 11th January, see #6.

If you are not sure, just contact your cpo broker's representative.

That's about it.

Have a nice trding day, guys......

9.13am
9.25am - a little bit of updating.

Market Goes Southwards

The CPO ( Crude Palm Oil) futures for May contract open at 2605 and closed at 2595 on last Thursday, 25th of February. (Friday was a public holiday in Malaysia).The highest was at 2615 and the lowest was at 2580. The market ended up higher with a black bar. Anyway, it was sellers' market.

After opening at 10.30a.m. at 2605, the market dropped a bit and then moved up to 2615, the highest of the day. The market started to fall down at about 10.35a.m. from the highest level to 2585, to the lowest in the morning session,before settling at 2591 just before lunch.In the afternoon, the market open at 2595 and started to fall further down to 2580, the lowest of the day, before bouncing back to finally close at 2595.

If you look at my forecast, see # 4, and had managed to place a sell position at 2608 or the highest at 2615 ( see graph as above ), you could probably have been able to make a maximum profits of 30 points if you decided to close the position before lunch. If you had decided to close your position after lunch, you could have had made 5 points more. In anyway,there was no way for you to end up losing your money on that day!


That's about it


Have a nice trading day, Mike..


P/s There are no countries in the world which like to assinate leaders from other countries except US and Israel.

8.53am