CPO August Futures Drops Sharply

The Cpo ( crude palm oil ) futures for August contract open at 2609 and closed at 2499 yesterday. The highest was at 2626 and the lowest was at 2480. The market ended lower and was a black bar.


The market open at 2609 and immediately retraced to 2604 and then shot up to 2626, the highest of the day, at about 11.00a.m. before retracing to 2570 before lunch. In the afternoon, the market started to fall further down to the lowest of the day at about 5.40 p.m. and finally settled at 2499 ( see enclosed graph ).
If you look at my forecast yesterday ( see # 1 ), the market open at 2609 ( between 2600 to 2637 ) and at 10.57 a.m. , the market managed to touch 2020 ( 11 points above the opening level ) and had you placed a short position here, you would have been able to make profits of at least 50 to 60 points if you decided to close position just before lunch. If you had decided to prolong, you would have been making a lot more profits for the day.
The market also open at the lower part of the 2600-to-2637 level and also did retrace further after the levels 2578- to -2583 were breached. ( see also # 1 )


Have a nice trading day, guys.


P/s. I do not know ... no idea today
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7- 9.45 a.m.

Soya Bean Oil-Climatic Situation

The Cpo ( crude palm oil ) futures for August contract open at 2644 and closed at 2602 yesterday. The highest was at 2656 and the lowest was at 2588. The market closed lower and ended a black bar.

Since the market on 19th of May open not within the forecasted levels, so I think there was no commentary on the matters to be addressed.

Today

In the long run, the market is still bullish but not the very short run. My forecast for today's market direction will be as follows;

1) If the market opens between 2600 to 2637 . Sell after the market has moved up 11 points from the opening level. Be careful of the 'fast movement' of the market after opening. If the market manages to beat down the levels between 2578 to 2583, the market may fall further especially if the opening is more towards the lower part of the 2600-to-2637 levels. Make sure this 11 points do not exceed these levels. If the market manages to beat up the level between 2652 to 2658, the market may go up further especially if the market opens more towards the upper level of the 2600-to-2637 levels. Make sure these 11 points do not exceed these levels after opening.

2) If the market opens between 2638 to 2647. Buy after the market has moved up beating the levels between 2652 to 2658.

3) If the market opens between 2588 to 2599. Sell after the market has retraced beating down the levels between 2577 to 2583.

4) If the market opens between 2563 to 2583. Sell after the market has moved up a bit and then falls 5 points below the opening level.

5) If the market opens between 2652 to 2672. Buy after the market has retraced a bit and then moves up 5 points from the opening level.

6) If the market opens other than the above....it is your call, I still have not found a methodology to go about entering the market at this point of time ( been quite long eh? ).

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

If you are not sure.......then do something man.

P/s Obama told Netanyahu not to bulid any form of development on Pelastine's land. Do you think this guy will listen to him?

2 - 9.55am

Still Bullish?

Yesterday the August contract was the new active month for CPO futures which ended lower with a white bar. On the whole, the market is said to be in bearish position now.

Today

In the very very short run, the market is still bullish. So my forecast for today's market is as follows;

1) If the market opens between 2538 to 2593. Buy after the market has retraced 13 points from the opening level. Be careful if the market's fall is in a very fast mode. If the market manages to beat up the level between 2608 to 2615, the market may go further up especially if the opening is more towards the upper part of the 2538-to-2593 levels. Make sure the 13 points range do not exceed these levels when the market opens. If the market manages to beat down the levels between 2500 to 2508, the market may fall further especially if the market opens more towards the lower part of the 2538-to-2593 levels. Make sure when the market opens the 13 points range do not be in these levels.
2) If the market opens between 2594 to 2603. Buy after the market has passed up the levels between 2608 to 2615.
3) If the market opens between 2528 to 2537. Sell after the market has passed down the levels between 2516 to 2523. The market may fall further if the levels between 2500 to 2508 are breached and a black bar may be formed today or at least in the early part of the trading day.
4) If the market opens between 2503 to 2523. Sell after the market has moved up a bit and then falls 5 points below the opening level. See also the bold letters as in # 3 ( if the market opens between 2513 to 2523 )
5) If the market opens other than the above, it is your call........
6) Trendlines?...If you are fimiliar with trendlines, look for 3 tops or 3 bottoms.
7) See also # 6 ( posting dated 12th january 2009 )


Well, if you are not sure......then you are not sure....

Have a nice trading day , guys...


P/s......????

10.00 am- 4

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.