Monday, November 30, 2009

KL Stock - Karyon

Sunday, November 29, 2009

KCPO - It should hold -30/11/09

Last week if you had applied the Yesterday's Low Minus 5 points to take profit method, then you would take not your profit on last Friday. Otherwise, use the upper Bollinger Band of 2430 as your stop.

At the daily chart, there is actually nothing yet to tell us to sell as MACD and ADX still continue to rise. The only item is the overbought Stochastic which if it start to fall and crosses down its own 80's signal line, there may a correction.

The weekly chart is also bullish because the Stochastic is rising above its 50's signal line while the MACD is crossing its own zero signal line. Price is maintaining above the upper Bollinger Band and the D+ is still expanding. Perhaps the most promising item is the ADX which is rising. I think CPO may be going to do its final bullish minor cycle before calling its end.

Like all other commodities, you should watch the USD closely as it may affect CPO's prices.

FKLI - There is NO Black Swan in Technical Analysis 30/11/09

Did I foresee the collapse of Dubai World ? Yes and no. Yes in the sense every time when a government and their GLCs or politically well connected crony companies get overheated in their ambitions, we should expect troubles of crisis proportion to follow soon. And history just keep on repeating itself. Just think back what Dr. Mahatir's administration did (build and build and they will come policy) before the 1997 financial crisis. Dubai World is no different this time. Any fundamental analysts that worth their education should able to foretell the investors to take cover long ago.

And no, in the sense that even though I knew about what is brewing in Dubai, I am not able to tell you when it is going to blow up in our face. BUT, applying technical analysis, the multiple periods bearish divergences have warned me against adopting an overly bullish stance. So I did NOT buy the 'recovery" stories that the fundamental analyst crowds have been peddling for the past few months.

One thing you would have noted again by the current fiasco is that many of big name banks are getting hurt again. Among them are HSBC, RBS etc. Many small business men would tell you how difficult for them to borrow a few dimes from these banks for their REAL businesses. And yet these big boys seem to be so stupid (I actually would call them idiotic) to get burnt again and again by those fairy tales loans.

In the daily chart (I am using the next month chart as November chart expired by the time you read this) , the Stochastic has just falling below its 50's signal line which is another major sell signal. And the negative MACD is continuing its fall and also just gone below its prior trough which I usually take it as another major sell signal. Another damaging confirmation is the D- has just crossed above the D+ which is telling us the bull cycle is gone. But of course we need the coming Monday's bar to do a new lower than Friday's low (Wilder's extreme point trading rules) , seeing what happened last Friday on overnight DJIA , this should not be a problem. So if it does that, there is another sell signal. But having saying all that, we would need to see the currently falling ADX to rise again to confirm a new trend in this market.

Any breaks below the daily Bollinger Band of 1253 would flash another major sell signal. 1253 is a very important number as it is also the weekly upper Bollinger Band which upon breached is usually taken as another major sell signal. Other major sell signals would be MACD crossing down its zero signal line. Meanwhile place your stops at 1278.

The weekly chart still has not confirmed a new sell signal yet as the Stochastic , though negative is still above its 80's signal line. But if it is crossed down , then you may take it as an initial sell confirmation. The other item to watch out for will be a weekly closing of below its upper Bollinger Band of 1257. The ADX has turned flat for the past few weeks which I had interpreted as the market has lost its momentum. If it is to start falling, then I would read it as the end of the prior trend. So maybe you should keep an eye on this item too.

This market may be finally playing out the numerous bearish divergences it has been registering in its daily chart. If that is to be, then market may really see its pants drop.

Wednesday, November 25, 2009

And you think everyone is hating America

Debt Problem? What Debt Problem?

The United States may be hurtling headlong into a debt disaster, but that didn't seem to bother creditors today.

Sure, the national debt now exceeds $12 trillion, and simply servicing that mountain of IOUs is going to cost almost $1 trillion a year in a decade. Still, bidders today drove down the price of two-year Treasury notes to an all-time low, as though the U.S. isn't facing a fiscal reckoning of seriously unpleasant proportions.

Monday, November 23, 2009

KL Stock - Whitehorse

Sunday, November 22, 2009

Gold at 5,000 - A modern Day Children Story ?

No One is Buying Real Gold, They’re Just Betting On Higher Gold Prices

Remember all those articles came out when crude oil was going up ? Things like the end of the oil reserves/oil peak/world is running out of oil ? Remember how they suddenly disappeared when crude oil crashed ? Do you see the similarity with "gold - the ultimate hedge against hyperinflation/demise of USD etc" stories that have been going around these days ? If when USD is to rally as I "predict", these gold children stories will disappear like the morning dew:-

This is a remarkable story:-

The LA Times offers us an interesting look at the divergence between the activity of gold speculators and that of the buyers of real gold, be it coins or jewelry. The data is based on the third quarter 2009 versus Q3 ‘08…

>From the LA Times:

Data from the World Gold Council show that the surge in the metal’s price to record highs ($1,146.40 an ounce as of Friday) hasn’t been accompanied by record purchases of the real thing.

The council’s report put total global purchases of gold in the quarter that ended Sept. 30 at 800.3 metric tons, down 34% from the 1,205.6 tons bought in the third quarter of 2008.

Buying was down in the third quarter versus a year earlier in every major category of gold consumption, including jewelry (the biggest single source of demand), industrial use, coins and purchases by exchange-traded funds.

Now this can be a price-demand issue, higher prices for the raw material keeping buyers away at the retail level…

Gold bought as jewelry, for example, reached 673.3 tons in the third quarter of 2008, when gold’s price was mostly below $900 an ounce. In the third quarter of this year, with the price mostly above $900 and on its way to $1,009 by the quarter’s end, the amount of the metal bought as jewelry totaled 473.5 tons, down 30%.

Surprisingly, while the US Mint is continuing to produce, some major mints around the world are holding back:

Interestingly, the Austrian government mint is betting otherwise, at least in the near term: The mint, the world’s biggest producer of gold coins, recently said it planned to cut output by 32% in 2010, figuring that an improving global financial system will slash gold demand from investors.

An analyst from Kitco Metals is calling the rally in gold entirely speculative in the article. At some point, either the real buyers of physical gold come in to chase these speculative bets or the spec guys see their castle made of clouds dissipate.

Either way, the action going into the end of the year will be interesting.

Communists love Capitalism !

In today Sunday Star's numerous essays on the Malaysian Communist leader Chin Peng, this is the most interesting to me and I think it says it all - Capitalism, though with its many flaws and extremes, is the still best system in the world. Not only Mr. Chin Peng depends on it for his old age, his political masters - China is now probably the world's current greatest capitalistic nation:-

Asked how he managed financially, his answer is wonderfully ironic:

“Several of my close comrades and I pooled the money we received after the Peace Accord and dabbled in the Hong Kong stock market. Our funds were managed by a trusted former guerilla who was meticulous and good at making money from the stock market.

“We used some of the money to rebuild our lives and reinvested the rest in stocks and investments funds.

“I am not good in business but my friends are. We managed to avoid losses even when the market crashed in 1997 and during the current recession period. The returns have been good enough to see me through in life as an independent person.”

In other words, a group of die-hard communists were saved from a life of penury by the most capitalistic of instruments, the stock market!

Friday, November 20, 2009

FKLI - It is getting hideous ! 23/11/09

Last week I mentioned that we should dump the long when the market opens. It was not a bad move as the market has been falling continuously for the next 4 days. By Thursday it even triggered a new short when it closed below the upper Bollinger Band. And the daily chart is getting more and more hideous as another bearish divergence has just completed, adding one more to the previously already multiple bearish divergences. The Stochastic has turned negative and next to watch out for is when it crosses down the 80's signal line which may be taken as another sell signal. The MACD has also crossed down and begin falling. But it is still relatively "high" above its zero line , and so is the D+ which is still above the D-. Both of these are making the sell signal not too attractive YET.

The weekly chart finally see the MACD turned negative. But the rest remain positive as prices stay above the upper Bollinger Band, the Stochastic is still above its 80's signal line and the D+ remains above the D-. You should keep an eye on a possible weekly closing of below the upper Bollinger Band at 1255 which can be taken as another initial sell signal.

Meanwhile keep a stop at 1278 for your shorts position.

Despite helps from the newly incoming
Maxis, FKLI is getting increasing perilous. The multiple bearish divergences found at its daily chart will have to be resolved soon and by that I would think a fall to 1180, 1110 or 1060 is expected. The longer the government is delaying this correction, the worst it would become when the dam gives way. I would suggest you should keep an eye on the USD, as long as it is going down, the equities market should be able to hold up. But the moment the USD is back on its feet, then equities should see its end of story. And I have been very bullish about the USD for some weeks now.

KCPO - Market blows up as anticipated - 23/11/09

Unlike fundamental analysis, the beautiful aspect of applying technical analysis to the market is that it can usually foretell you what is likely to happen next. I have been taking about a possible new violent move for the past few weeks on - " The beautifully squeezing weekly Bollinger Band is signaling that a major move may be forthcoming ." This market just blown upward on last Monday and made a tiny gain of 150 points within a week.

The Stochastic and the MACD continue to rise. The MACD is above its zero signal line which make t more bullish. And the most important item is that the previously sleepy ADX has now risen and crossed up the falling D-. It has now reached the 20 signal line which is confirming the trend. But the toppish Stochastic would probably mean this market see some retracement or consolidation in the coming week. I would place my stop now at 2330 or last bar low minus 5 to take profit.

The weekly chart is also bullish as the MACD has just turned positive and crossed up its own zero signal line which is a more solid buy signal. The Stochastic remains upward. Prices has now closed above the upper Bolliner Band. The D+ has also crossed up the falling D- which may be interpreted as another buy signal. The previously falling ADX jas now turned flat, signaling a possible reversal of the trend.

There could be a possibility that this market may go back to test its previous peak of 2799, but somehow I doubt it as the currency markets do not seem to support this scenario. If my reading that the USD should strengthen soon, equities and commodities market would soften. Since the picture is not too clear on the magnitude of its next move, I will just ride it and keep a very clear mind on my stops.

Thursday, November 19, 2009

Americans dying for Chinese economic gains

Beijing’s Afghan Gamble

IN Afghanistan’s Logar Province, just south of Kabul, the geopolitical future of Asia is becoming apparent: American troops are providing security for a Chinese state-owned company to exploit the Aynak copper reserves, which are worth tens of billions of dollars. While some of America’s NATO allies want to do as little as possible in the effort to stabilize Afghanistan, China has its eyes on some of world’s last untapped deposits of copper, iron, gold, uranium and precious gems, and is willing to take big risks in one of the most violent countries to secure them.

In Afghanistan, American and Chinese interests converge. By exploiting Afghanistan’s metal and mineral reserves, China can provide thousands of Afghans with jobs, thus generating tax revenues to help stabilize a tottering Kabul government. Just as America has a vision of a modestly stable Afghanistan that will no longer be a haven for extremists, China has a vision of Afghanistan as a secure conduit for roads and energy pipelines that will bring natural resources from the Indian Ocean and elsewhere. So if America defeats Al Qaeda and the irreconcilable elements of the Taliban, China’s geopolitical position will be enhanced.

This is not a paradox, since China need not be our future adversary. Indeed, combining forces with China in Afghanistan might even improve the relationship between Washington and Beijing. The problem is that while
America is sacrificing its blood and treasure, the Chinese will reap the benefits.

The whole direction of America’s military and diplomatic effort is toward an exit strategy, whereas the Chinese hope to stay and profit.

But what if America decides to leave, or to drastically reduce its footprint to a counterterrorism strategy focused mainly on the Afghanistan-Pakistan border? Then another scenario might play out. Kandahar and other areas will most likely fall to the Taliban, creating a truly lawless realm that wrecks China’s plans for an energy and commodities passageway through South Asia. It would also, of course, be a momentous moral victory achieved by radical Muslims who, having first defeated the Soviet Union in Afghanistan, will then have triumphed over another superpower.

And the calculations get more complicated still: a withdrawal of any kind from Afghanistan before a stable government is in place would also hurt India, a critical if undeclared American ally, and increasingly a rival of China. Were the Taliban to retake Afghanistan, India would face a radical Islamistan stretching from its border with Pakistan deep into Central Asia. With the Taliban triumphant on Pakistan’s western border, jihadists there could direct their energies to the eastern border with India.

India would defeat Pakistan in a war, conventional or nuclear. But having to do so, or simply needing to face down a significantly greater jihadist threat next door, would divert India’s national energies away from further developing its economy and its navy, a development China would quietly welcome.

Bottom line: China will find a way to benefit no matter what the United States does in Afghanistan. But it probably benefits more if we stay and add troops to the fight. The same goes for Russia. Because of continuing unrest in the Islamic southern tier of the former Soviet Union, Moscow has an interest in America stabilizing Afghanistan (though it would take a certain psychological pleasure from a humiliating American withdrawal).

In nuts-and-bolts terms, if we stay in Afghanistan and eventually succeed, other countries will benefit more than we will. China, India and Russia are all Asian powers, geographically proximate to Afghanistan and better able, therefore, to garner practical advantages from any stability our armed forces would make possible.

Everyone keeps saying that America is not an empire, but our military finds itself in the sort of situation that was mighty familiar to empires like that of ancient Rome and 19th-century Britain: struggling in a far-off corner of the world to exact revenge, to put down the fires of rebellion, and to restore civilized order. Meanwhile, other rising and resurgent powers wait patiently in the wings, free-riding on the public good we offer. This is exactly how an empire declines, by allowing others to take advantage of its own exertions.

Of course, one could make an excellent case that an ignominious withdrawal from Afghanistan is precisely what would lead to our decline, by demoralizing our military, signaling to our friends worldwide that we cannot be counted on and demonstrating that our enemies have greater resolve than we do. That is why we have no choice in Afghanistan but to add troops and continue to fight.

But as much as we hone our counterinsurgency skills and develop assets for the “long war,” history would suggest that over time we can more easily preserve our standing in the world by using naval and air power from a distance when intervening abroad. Afghanistan should be the very last place where we are a land-based meddler, caught up in internal Islamic conflict, helping the strategic ambitions of the Chinese and others.

Robert D. Kaplan is a senior fellow at the Center for a New American Security and a correspondent for The Atlantic.


It’s 13-f season and many of the largest and best hedge funds are out with their holdings for the quarter ending September 30, 2009 . Although many of these positions may have changed since the filing date, it’s always useful to review these filings to glean any insights into what the smart money is doing in this market. You will find some of the similarities between largest holdings quite useful.

John Paulson – Paulson & Co.

We have previously profiled Paulson in our guru outlook. As we said then, Paulson’s portfolio is heavily weighted towards gold, banks and healthcare.

1) SPDR Gold Trust (GLD) – $3.1B

2) Bank of America (BAC) – $2.7B

In a recent letter to shareholders, Paulson expressed his optimism regarding Bank of America:

“[While the bank] has risen from when we purchased the stock, we believe considerable upside remains. Banks will have passed the current writedown cycle and have visibility for growth in 2012.”

3) Wyeth (WYE) – $2.5B

4) Anglogold (AAUK) – $1.7B

5) Schering Plough (SGP) – $1.6B

Like Cohen, Paulson also has a very large position in Liberty Media.

Lee Ainslie – Maverick Capital

Ainslie’s Maverick Capital has a diverse set of equity holdings.

His largest positions are as follows:

1) Apple (AAPL) $281.5MM

3) HP (HPQ) $281.2MM

3) Corning (GLW) $258MM

4) QualComm (QCOM) $234MM

5) Priceline (PCLN) $210MM

Ainslie also has $200MM+ positions in JPM and CitiGroup. All in all, his portfolio has a clear tilt towards the high beta technology trade.

Steve Mandel – Lone Pine Capital

Mandel’s portfolio looks curiously similar to Ainslie’s:

1) JP Morgan (JPM) $716MM

2) Monsanto (MON) $649MM

3) Apple (AAPL) $572MM

4) QCOM $527MM

5) HP (HPQ) $465MM

Another tech heavy portfolio with a dabbling of banks in there.

Daniel Loeb – Third Point

Loeb’s portfolio is mixed with a number of large merger arb plays. Like the other large funds, he has some clear confidence in the banking recovery
1) Wyeth (WYE) $190MM

2) PHH (PHH) $88MM

3) CF Industries (CF) $68MM

4) Liberty Acquisitions (LIA) $65MM

5) Bank of America (BAC) $50MM

Steve Cohen – SAC Capital

Cohen’s monstrous portfolio comes about as diversified as you’ll ever see for a large hedge fund. His fund is a blend of many of the others listed here:

1) Wyeth (WYE) – $450MM

2) Liberty Media (LMDIA) - $204MM

3) Barrick Gold (ABX) – $150MM, $58MM call position, $15MM put position

4) Conoco Philips (COP) – $145MM, $26MM call position, $13MM put position

5) Apple (AAPL) – $120MM, $27MM call position

From The Pragmatic Capitalist

Tuesday, November 17, 2009

Is there something brewing at Citi ?

Today this comes in my mail:-

"Maybe Citi Doesn’t Suck So Much

It’s been a pretty rough couple of years for Citigroup. But a couple of the world’s biggest hedge fund managers seem to think Vikram and Co. have something going.

Paulson & Co. bought up a $1.2 billion stake in Citi during the third quarter, while Renaissance Technologies took a more modest $90 million slice. RenTech has been somewhat schizophrenic about Citi, selling off 21.5 million shares in the second quarter, only to rebuild its stake to—you guessed it—21.5 million shares last quarter."

I have been keeping an eye on Citi for a while now because it is one of the big boys that price has NOT gone up since March this year. So when the above comes in today, I take another look at its chart and this is what I find:-

The monthly chart shows the RSI has already gone into oversold area with prices now staying above the short term moving average. But there is no buy signal flashes yet.

The weekly chart is more promising and I am very thrilled with what I see. First I like the bullish divergence at the MACD and at the RSI. The MACD is getting close to its zero signal line and the RSI is also near its 50 signal line, any new buy signal near these areas would be more meaningful. Secondly , another exciting item is its ADX which has now gone below 20's which is confirming the lack of trend in this stock. But the Bollinger Band has been squeezing which is foretelling us there is going to be a monstrous move soon. Any weekly closing of above $5.52 should be a buy signal.

The daily chart almost resemble the weekly chart's. The Bollinger Band is also squeezing with ADX going below 20's. Prices are within the Bollinger Band, all these are confirming a lack of trend at this moment. But as mentioned at the weekly chart, this is usually the calm before the storm type of formation.

And now with the big boys buying in their shares, maybe you should start stay alert on this stock ?

Monday, November 16, 2009

KL Stocks - Affin -WC, HLCap, Prestar-WA & Seal

Will China collapses soon ?

Is China Putting Us All On ?
In my opinion, this is the biggest potential story out there right now. The mere possibility that the China bears are right and that all of the growth there smoke and mirrors could have cataclysmic consequences on a global scale, nowhere more so than here in Debtland, USA.

If China collapses, what are the effects on our Treasury’s attempts to finance and refinance our way to economic health? And what would this mean to the world’s commodity prices, infrastructure projects and shipping/ transport industries?

We all know the bull case for China: The world’s most populous nation is going from third world to first world overnight, the burgeoning middle and upper class are buying, building and spending like there’s no tomorrow to make up for decades of communist deprivation.

Not many are familiar with the bear case for China, but the number of adherents to this story is growing.

The China bears include James Chanos, the billionaire hedge fund manager of Kynikos Associates that made his name and his fortune calling BS on Enron at the beginning of this decade. He shorted it to zero when his homework told him it was a fraudulent disaster waiting to happen. He referred to Enron as a Trust Me story. He now talks about China as the ultimate Trust Me story.

The linchpin bear argument is laid out fairly succinctly on

First, they point to the enormous Chinese economic stimulus effort — with the government spending $900 billion to prop up a $4.3 trillion economy. “Yet China’s economy, for all the stimulus it has received in 11 months, is underperforming,” Gordon Chang, author of “The Coming Collapse of China,” wrote in Forbes at the end of October. “More important, it is unlikely that [third-quarter] expansion was anywhere near the claimed 8.9 percent.”

Chang basically says that all this data is coming from state-run agencies which are cooking their books (his words, not mine).

Further, the Overcapacity argument is now making the rounds on blogs and in the media all over the world:

Another data point cited by the bears: overcapacity. For example, the Chinese already consume more cement than the rest of the world combined, at 1.4 billion tons per year. But they have dramatically ramped up their ability to produce even more in recent years, leading to an estimated spare capacity of about 340 million tons, which, according to a report prepared earlier this year by Pivot Capital Management, is more than the consumption in the U.S., India and Japan combined.

And here’s some crazy stuff about the consumer scene from a blogger:

And the bears also keep a close eye on anecdotal reports from the ground level in China, like a recent posting on a blog called The Peking Duck about shopping at Beijing’s “stunningly dysfunctional, catastrophic mall, called The Place.”

“I was shocked at what I saw,” the blogger wrote. “Fifty percent of the eateries in the basement were boarded up. The cheap food court, too, was gone, covered up with ugly blue boarding, making the basement especially grim and dreary. … There is simply too much stuff, too many stores and no buyers.”

Re: Chanos and his “Short China” thesis, it should be noted that he’s been talking publicly about it since at least December 2008, and China’s stock market has almost doubled in that time frame, as have many of the US stocks he refers to that are doing infrastructure business there.

Here’s Chanos on China in New York Magazine on December 7th 2008:

Chanos was excited that afternoon. He had just read a report that China’s electric consumption had dropped 4 percent, despite official government statistics that the Chinese economy was growing at 8 percent. He relished the implications. “I think they’re making up the numbers!” he said. As Wall Street picks up the pieces of the broken financial system, Chanos is already one step ahead. He sees China as the next domino to fall in the global meltdown. In recent months, Chanos has loaded up short positions on the infrastructure companies that have rushed to build China’s new highways, bridges, and tunnels. Now he is waiting for their share prices to tank.

I view this story as still developing. The concept of empty shopping Chinese malls has been around for awhile and China’s cold hard purchases of copper, iron ore, steel and oil are undeniable. Last week’s Al Jazeera story about the ghost city China constructed in the middle of nowhere was interesting, but given the source, I’m not even inclined to believe what I see no less what I hear.

Joshua Brown

Saturday, November 14, 2009

KCPO - The market is dead but stay alert - 16/11/09

Now that everything seems to be in place with each others - The Stochastic and the MACD are positive and pointing up while D+ remains above D-. Most impressive of all is price after triggered my stop and went back up and this time it is able to stay above the prior high of 2250 and also above the upper Bollinger Band. So everything seem to be pointing for a buy again. Yes, true. But there is one very annoying item here remain unresolved is the "dead" ADX which has turned flat at 12.

With the "dead" ADX, I would only buy some but remain extremely cautious and keep the trading small. This time I will place my stop at 2210 which is its recent low. And you should continue to monitor the Stochastic which may get overbought by the coming week.

The weekly chart is similar to what are found in the daily chart. The Stochastic is positive and rising while the MACD has also just turned positive. But prices have so far remained stuck within the Bollinger Band while the ADX continues to descend to 12's.

So again, both the daily and weekly ADX remain at 12's which is considered very direction less. In my opinion, you should avoid trading until a clearer picture emerges. But if you have to trade, then please do not engage a large size position and you should be ever ready to take profit.

The beautifully squeezing weekly Bollinger Band is signaling that a major move may be forthcoming, so certainly you do not want to be get caught on the wrong side of the trade.

FKLI - It is getting more perilous -16/11/09

Lat week's prices may just touched my stop and bounced , even though you may not have closed off the positions, I would think you should do it when market opens in the coming week.

The Stochastic is now turning negative and downward. The MACD is also seem to be losing steam though it is still positive. The ADX has turned flat for the past days which may be signaling a sideway market. I would sell when market closes below 1268 and add more at 1245. Place your stop at 1273.

The weekly chart again remain almost same as last week's. Price is still maintaining above the upper Bollinger Band and the Stochastic remains above its 80's signal line. The MACD may still positive but it is losing more steam, which mean we may see a negative cross down soon.

Summary:- the daily chart is getting more hideous as another new negative divergence may be forming
when if the MACD crosses down soon. With this multiple bearish divergence hanging over this market, it is hard to tell yourself everything is okay and that we can live happily ever after and other rosy stuffs. Of course we may still see the market go for its next upside target as the weekly chart is still healthy, but I think we need to see some meaningful corrections first.

Friday, November 13, 2009

KL Stocks - BJGroup- LC, Caely, BIMB & Tocean

Thursday, November 12, 2009

Hey, what about a possible a W bottom ?

Blackrock's boss Laurence Fink kindly asks all you financial journalists, bearish money managers and talking heads out there to shut the hell up about a stock market bubble.

Everything's fine, the BlackRock chief wants to assure. Totally normal. "I think things are playing out as they should," he told a Wall Street Journal executive-breakfast session. So stop talking about things going wrong, damnit:
The Finkster promises us that the old crisis is basically history and that we won't see two crises in a row.

Tuesday, November 10, 2009

Oooohhh, so much apple polishing

From today Sin Chew Jit Poh:-

Hai O's boss 陳凱希 (an relic socialist turned capitalist)


KL Stocks -Efuture & Esceram

Monday, November 9, 2009

KL Stocks -Cymao & Incken

Sunday, November 8, 2009

FKLI - Trade small and stay cautious - 9/11/09

Last week's shorts were not profitable as prices hit the lower Bollinger Band and went back up and took out my stop at 1264. Now that the Stochastic has crossed up again and price closes above the upper Bollinger Band, I have engaged some new long positions, but I would remain cautious on this trade as the MACD still has not crossed up. On top of that the ADX is still falling which could be telling us this may be one of those counter-trend minor moves. I would keep a stop at 1262.

The weekly chart's candlestick opened below the upper Bollinger Band but managed to closed back up above. The Stochastic remains above the 80's zone. The MACD is showing more losses in momentum as the MACD is getting tighter to its moving average. But it still remain positive.

Summary:- I would take any new trades when the daily signals flashes as long as the ADX remains above 20's. But I would
NOT engage a large positions as the weekly chart has already begun to weaken (tightening MACD and prices testing BBand supports ) and the daily charts has not closed above its prior high. I am also beginning to get uncomfortable with the Dow Jones , other major stock markets and commodities. But then I think KLSE may not 'die" yet as there are still many of those penny stocks/BS stocks (You know who they are and there are plenty of them in KLSE) that are waiting for their turns to roar or have just begun to move. I mean , whoever the big players are, they certainly would NOT want to dampen your interests in the market at this time, YET.