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

CPO Price Down

The market on yesterday's performance has shown that the market has finally gone down after weeks of moving up. Will this be just a temporary measure? Or just another correction before the market keep moving north again?

On last Monday's forecast, the market did not open within any forecasts that I have put forward.

Today

The forecast for today ;

1) If the market opens between 2590 to 2600. Sell after the market has retraced passing down the levels between 2580 to 2585.
2) If the market opens between 2621 to 2633. Buy after the market has moved up passing the levels between 2638 to 2643.
3) If the market opens between 2638 to 2650. Buy after the market has dropped down a bit and then moves up 5 points above the opening level.
4) If the market opens between 2601 to 2620. Sell after the market has gone up between 7 to 15 points above the opening level.
5) If the market opens between 2572 to 2585. Sell after the market has gone up a bit and then falls 5 points below the opening level.
6) If the market opens other than the above, it is just your call.
7) Also refer to my posting dated 11th January, see #6

If you are not sure, just.....whatever.

Have a nice trading day...guys.

9.04am

Where To Now?

The market for the past 3 days, after Chinese New Year celebration, has shown sign of retracement. Will this southward movement continue today? Before I forget, the market on 12th february did not open within any of my forecasts.

Today

My forecast?

1) If the market opens between 2591 to 2602. Sell after the market has retraced passing down the levels between 2580 to 2585.
2) If the market opens between 2600 to 2610. Buy after the market has moved up passing the levels between 2605 to 2610.
3) If the market opens between 2582 to 2590. Sell after the market has retraced passing down the levels between 2572 to 2577.
4) If the market opens between 2615 to 2625. Buy after the market has retraced a bit and then moves 5 points above the opening level.
5) If the market opens between 2565 to 2577. Sell after the market has move up a bit and then falls 5 points below the opening level.
6) If the market opens other then the above...it is up to you, you can eat all the Mandrin oranges which were given by your friends, if they are any.
7) Also please refer to my posting dated 11th January,see #6.


That's about it guys.....


Have a nice trading day


10.03am

Down Is On The Way?

The CPO ( Crude Palm Oil) futures for April contract open at 2548 and closed at 2580 yesterday. The highest was at 2594 and the lowest was at 2575. The market ended higher with a black bar.
The opening of the market was not within the levels suggested by the forecast. It open far too high.
Yesterday's market was sellers' market and has an accumulation volume on its open interest compared to the day before. Theoretically, it indicates that the market is in the verge of falling down. It is just the matter of when. Today?

Today

The forecast for today;

1) If the market opens between 2584 to 2594. Sell after the market has gone up between 5 to 13 points above the level 2597.
2) If the market opens between 2579 to 2589.Sell after the market has fallen passing down the levels between 2569 to 2574. If the market manages to fall below 2561, the market may fall further.
3) If the market opens between 2561 to 2574. Sell after the market has moved up a bit and then falls 6 points below the opening level.
4) If the market opens between 2599 to 2612. Sell after the market has moved up 3 to 13 points above the opening level.
5) If the market opens other than the above, as usual, it is your call.
6) Also refer to my posting dated 11th January, see #6.


Have a nice trading day, guys..

To those who celebrate Chinese New Year - HAPPY CHINESE NEW YEAR!


9.04am