Yesterday Performance

The CPO ( crude palm oil ) futures for July contract open at 2680 and closed at 2725 yesterday. The highest was at 2736 and the lowest was at 2678. The market ended higher and was a white bar.

If you look at my yesterday's forecast ( see #1) and had you placed the sell position at 2692 ( 12 points after opening level - see graph - sorry the graph was not properly positioned) , you would have been able to make at least 10 points profits provided if you decided to clear your position earlier. Had you decided to prolong , you might up end losing ( is quite a critical decision to make here but if you are an experience person, you might have noticed the situation). The market did also go up further after the levels between 2726 to 2733 were breached even though the market open at the lower end of the 2661-to-2710 levels.. ( see also # 1 forecast )

Have a nice trading day, guys

3-9.50 am

Where To Now?

Yesterday the market open and closed at the same level, that was at 2660. In Japanese candlestick the bar is called doji. When the market opens and closes at the same level, the market is said to be in indecisive position. So, will today's market be indecisive situation as well?

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Today

In long run, the market is still bullish but the very very short term, the market looks like it is bearish now. My forecast for today is as follows;

1) If the market opens between 2661 to 2710. Sell after the market has moved up 12 points above the opening level. Make sure that this 12 points up are not within the range of the level 2710 when the market opens. If the market manages to beat up the levels between 2726 to 2733, the market may go further up especially if the market opens in the upper part of the 2661-to-2710 levels. If the market manages to beat down the levels between 2640 to 2646, the market may fall further especially if the market opens in the lower part of the 2661-to-2710 levels.

2) If the market opens between 2711 to 2721. Buy after the market has moved up beating the level between 2725 to 2730.

3) If the market opens between 2650 to 2660. Sell after the market has retraced beating down the levels between 2639 to 2645.

4) If the market opens between 2726 to 2746. Buy after the market has dropped a bit and then moves up beating 5 points above the opening level.

5) If the market opens between 2625 to 2645. Sell after the market has moved up a bit and then falls 5 points below the opening level.

6) If the market opens other than the above.....I don't know Mike...

7) Please refer to # 6 ( posting dated 12th january 2009 )

P/s Who will be the next President of Iran in this coming election?

Have a nice trading day......

5-8.58 am

New Phase Now?

The CPO futures for July contract open at 2490 and closed at 2456 yesterday. The highest was at 2530 and the lowest was at 2422. The market ended lower and was a black bar.

The market open at 2490 at 10.30 a.m., dropped a bit to 2489, and moved up to 2507 ( see graph ) at about 10.31 a.m. It then retraced to 2489 again before shooting up to 2530, the highest of the day. The market passed the level 2500 to 2506 at abaout 10.41 a.m.
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If you look at my forecast yesterday ( see # 1.1 ); you had 2 choices here, either to place a buy at about 10.31 a.m. or at 10.41 a.m. Had you placed a buy at 10.31 a.m. , which was quite unlikely with a stop loss of 20 points ( see # 6a, my posting dated 12th January) or at about 10.41 a.m., you would have been able to make profits of between 20 to 25 points.

Have a nice trading day, guys.....

9 - 8.48 a.m.

Forecast of The Day

The market has managed to achieve its highest point for the past six months at 2648 and will this level be able to be broken is yet to be seen. Some analysts have also predicted that the CPO futures prices would be linggering at 2600's level at this year around. Whether the market will move further upwards or downwards drastically is hard to forecast.

Today

In the long run, the market is still bullish but the very very short run, the market is bearish now.

The forecast for today:

1) If the market opens between 2471 to 2495;

1.1 Buy if the market has passed the levels between 2500 to 2506.

1.2 Sell if the market manages to pass down the levels between 2460 to 2466.

2) If the market opens between 2500 to 2520. Buy after the market has dropped a bit and then moves up passing 5 points above the opening level. This would be more significant if the opening level is at the lower part of the 2500-to-2520 levels.

3) If the market opens between 2445 to 2466. Sell after the market has moved up a bit and than falls 5 points below the opening level. More significant if the opening is at the upper part of the 2445-to-2466 levels.

4) If the market opens other than the above, it is your call. If not sure, just stay aaaaawaaaayy

5) Please refer to #6 ( posting dated 12th January 2009 )

If you are still not sure, just contact your broker but not your milkman. He could be .......

P/s. The several countries including the EC boycotted Ahmadi Nejad's speech during the recent UN's conference on racism. He called the Israelis government " totally racist government" on earth.

6 - 9.25 a.m.

New Phase ?

The CPO ( crude palm oil ) futures for June contract open at 2165 and closed at 2269 yesterday. The highest was at 2281 and the lowest was at 2156. The market ended higher and was a white bar.

If you look at my forecast yesterday, see # 1.1, the market open at 2165, moved up a bit and then fell to 2156, the lowest of the day. The market then moved up again to end at 2228 before lunch. In the afternoon, the market kept moving up to finally settle at 2269. The market managed to pass the level 2184-to-2190 at, probably between 11.15 a.m. to 11.30 a.m. ( sorry, I forgot about the time ).

So, had you decided to place a buy here, you would have been able to make at least 15 to 35 points just before lunch.

As usual, no forecast for today

Have a nice trading day, guys!!

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Market To Go Down?

For the past 4 trading days, the market has been linggering between 2120 to 2210 levels. Does this indicate that the market is still in the sideways phase? It seems that the market would still be moving between these levels unless the levels 2220 or 2110 are breached. As for this situation, the strategy that is recommended to be used is to sell where you are supposed to buy and vise versa.

Today

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In the long run, the market is still bullish but the very very short run, the market is bearish. The forecast for today;

1) If the market opens between 2153 to 2178.

`` 1.1 Buy after the market has moved up passing the level 2184 to 2190. It would be more significant if the market opens more towards the upper part of the 2184-to-2190 levels.

`` 1.2 Sell after the market has retraced passing down the levels between 2142 to 2148. It would be more significant if the market opens more towards the lower part of the 2153-to-2178 levels.

2) If the market opens between 2140 to 2152. Sell after the market has gone up a bit and then falls 5 points after the opening level or sell after the market has touched the level 2168.

3) If the market opens between 2184 to 2192. Buy after the market has dropped to the level 2163.

4) If the market opens other than the above, it is your call.

5) Please refer to #6 ( see posting dated 12th January 2009 ).

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Well, if you are not sure, as usual, do refer to your broker/dealer.

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Have a nice trading day!!!

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CPO Export Up

Thursday - 2nd April 2009

8.25 a.m. - Malaysian Time

8.41 a.m. - A little bit of updating

The Cpo ( crude palm oil ) futures for June contract open at 2030 and closed at 2070 yesterday. The highest was at 2070 and the lowest was at 2010. The market ended higher and was a white bar.

The market open far too high from what was forecasted and it also managed to pass the 2060 level.

In normal circumtances, if the market opens higher than the previous bar and ends much higher than the last few bars ( a long bar ), the next bar , usually, may end a black bar.

As for today - using the "opening strategy" as in this blog - I think I better stay away from the market.

Have a nice trading day, guys.

P/s The Israelis are not happy with the appoinment of Nethanyahu as the Prime Minister. Why?

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