CPO Market Directionless?

The CPO ( Crude Palm Oil) futures for October contract open at 2090 and closed at 2098. The highest was at 2116 and the lowest was at 2085. The market ended lower and was a white bar.
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The market open within the forecasted level but it did not really follow what was suggested.

Today

In long term, the market is still bearish ( see enclosed chart ) but the very very short term, the market looks like it is bullish now. The forecast for today;

1) If the market opens between 2106 to 2116. Buy after the market has managed to pass the levels between 2122 to 2127. If this happens, the market may go further up and may end up a white bar or at least in the early part of the trading day.
2) If the market opens between 2089 to 2099. Sell after the market has passed down the level between 2079 to 2084. If the market manages to pass down the levels between 2073 to 2078, the market may fall further.
3) If the market opens between 2065 to 2083. Sell after the market has moved up a bit and then falls 5 points below the opening level.
4) If the market opens other than the above, it is up to you guys......how do I know anyway.
5) Please refer to my postiong dated 12th January ( see # 6)


If you are not sure, just contact your dealer but not your maid....she is more interested in going back to her country, be it Indonesia or Philiphines...

Have a nice trading day guys.


P/s. Netanyahu, the PM of Israel, says he is ready to attack Iran at any time. When it comes to Iran, Israel is just like Nato ( No action, talk only)


3-8.40am

Contrarian Effect Again?

The market , currently, is said to be in consolidation period and many expect the market to fall further. As for me, it still depends on the opening level of the market today.
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Today

My forecast for today;

1) If the market opens between 2075 to 2124. Buy after the market has fallen 13 points after the opening level. The market would be more significant if it opens more towards the upper level of the 2075 -to-2124 levels. Just be careful of the false alarm and also to make sure that the 13 points down do not exceed the level 2062.
2) If the market opens between 2125 to 2134. Buy after the market has passed the levels between 2140 to 2145.
3) If the market opens between 2062 to 2074. Sell after the market has retraced and passed down the levels between 2050 to 2057.
4) If the market opens between 2140 to 2160. Buy after the market has dropped a bit and then moves up 6 points above the opening level.
5) If the market opens between 2040 to 2057. Sell after the market has moved up a bit and then falls 7 points below the opening point.
6) if the market opens other thna the above, it is simply up to you, guys......
7) Please refer to my posting dated 12th January ( see #6)

If you are in doubt, just contact your dealerlah.....Do not contact your grandfather as he only knows how to wistle while brushing his teeth.....

Have a nice trading day, guys....

5- 9.14am

CPO : Where To Now

The CPO ( crude palm oil ) futures for September contract open at 2054 and closed at 2103 yesterday. The highest was at 2124 and the lowest was at 2049. The market ended higher with a white bar.

The market open at 2054, dropped a bit to 2049, the lowest of the day, and then shot up to 2102 before closing at 2096 before lunch ( see enclosed graph ). In the afternoon, the market open at 2107 , moved up to 2124, the highest of the day, and then retraced to finally closed at 2103. If you look at my forecast yesterday ( see #1) and if you were to place a buy position , say at 2065, you would probably have made profits of between 10 to 30 points before lunch. If you decided to prolong to after lunch, you could have made extra profits of between 10 to 20 points more.

That's about it for today.

Have a nice trading day

P/s I still am facing the problem of internet connection in my area. What happens to this TM ?

They are nothing but pokemon...

3-8.30 am

CPO Market To Go Up?

Some say the market now could be at the lowest point and may reverse to go up at any time. The question now is when? Or the market may not go up for the time being and instead is preparing to go down south. So which is which?

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Today

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In the long run, the market is still bearish but the short term the market is in the uncertainty situation.

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My forecast for today ;

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1) If the market opens between 2038 to 2055. Buy after the market has dropped 9 points from the opening point. Be careful of the market false alarm or buy after the market has passed the levels between 2060 to 2065.

2) If the market opens between 2056 to 2068. Buy after the market has dropped 9 points from the opening level. Be careful of the market false alarm.

3) If the market opens between 2068 to 2078. Buy after the market has passed the levels between 2083 to 2088.

4) If the market opens between 2028 to 2038. Sell after the market has dropped and passed the levels between 2018 to 2023. The market may fall further if the levels between 2013 to 2017 are broken down.

5) If the market opens between 2003 to 2022. Sell after the market has moved up a bit and then falls 5 points below the opening level.

6) If the market opens between 2084 to 2100. Buy after the market has dropped a bit and then moves up 6 points above the opening level.

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

8)Please refer to my previous posting dated 12th January ( see # 6)

That's about it, if you are not sure, just contact your dealer but not the political representative of your area as he only talks something that you would like to hear....

Have a nice trading day guys...

P/s I still have this intrupted internet connection problem from time to time and to Malaysians out there, if you are thinking of using Telekom Malaysia ( TM ) as your internet service provider, just forget it! This company is nothing but #@!*(08&^%$. If you make any complaint, they just simply ignore you!

6-8.46 a.m.

CPO Achtung !

I have been experiencing a terrible and very slow internet connectivity ( streamyx ) for the past one week. This happened not only to me but almost to all my friends in the same neighbourhood. The service provider has not been able to recognise the problem up to this point of time. Currently I am using a dial-up connection ( 1515 ) which is very very very slow indeed.

Sorry Mike, I'll be back when everything is in order and back to normal.

P/S To the service provider...you are nothing but #$@!&^.......@#!^&^

Where About Now

The CPO ( Crude Palm Oil ) futures for September contract open at 2268 and closed at 2336 yesterday. The highest was at 2340 and the lowest was at 2267. The market ended higher with a white bar.


The market open at 2268, immediately dropped a point to 2267 , the lowest of the day, and
then moved up to 2315 before closing at 2315 again before lunch. In the afternoon, the market kept moving up to the highest of the day at 2340 before finally settling down at 2336. ( see enclosed graph ).

If you look at my forecast yesterday ( see #1), the market open exactly at 2268 and managed to beat up the levels 2291 to 2296 at about 10.40a.m. If you were to place a buy position here as suggested, you would probably have made profits from 15 to 20 points just before lunch and had you decided to prolong in the afternoon, the profits could be from 15 to 50 points. How about me ? You may ask. Well, if you could regain your loss on the day before yesterday plus some profits, what more can you say. The market did beat up the levels between 2304 to 2310 ( see #1 ) and also move further up.


Have a nice trading day, guys....


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

8-9.50a.m.

CPO Futures - Indecision

The CPO ( Crude Palm Oil ) futures for September contract open at 2275 and closed at 2250 yesterday. The highest was at 2275 and the lowest was 2231. The market ended lower and was a black bar.

If you look at my forecast yesterday, the market open at 2275 and was at the upper part of the 2228-to-2289 levels but , after opening, the market kept falling down until it settled at 2250. Well, I made a loss -what else, after queing at 2260 and I had to sell to minimise my lose at 2240. As usual, you can't win them all.

Today

In long run, the market is still bearish but at this point of time , I think the market is in the indecisive situation. So my forecast for today :

1) If the market opens between 2268 to 2284. Buy after the market has moved up passing the level between 2291 to 2296. If the market manages to beat up the levels between 2304 to 2310, the market go further up.

2) If the market opens between 2233 to 2243. Sell after the market has retraced passing down the levels between 2223 to 2228.

3) If the market opens between 2207 to 2228. Sell after the market has moved up a bit and then falls down 6 points below the opening level. Jusat be careful here!

4) If the market opens above 2287 and then falls 'a bit ' below it and then rise again beating the levels between 2291 to 2297, the market go further up

5) If the market opens between 2304 to 2325. The market may go further up.

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

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

If you are not sure , just contact your dealer but not your 2nd wife........she only like to hear if you make money not the other way around.

P/s What do you think of Obama's recent fly swatting ?

Have a nice trading day...guys

3-9.30am