KCPO:- Short Term Buy - 4/11/2011

Like most listless market, prices went up and down without carving out a clear new direction. My long position was taken out quite early in the week as price went below previous day low minus. I stayed out until Friday when price went above the upper Bolliner Band. This is the first time price goes above the upper band since mid February. Both the Stochastic and MACD remain positive and rising, though the DMI remains negative.

The ADX is falling again, so do not expect much from this market at this moment yet. And as usual place stop at previous day low minus some ("some" means the figure is relative. It is depended on your risk appetite. Mine is usually 3 points. But if yours is bigger, you may use 5/10 points. I usually do not recommend anything beyond that)

                              

The weekly chart Stochastic and MACD remain negative and falling. The ADX continues to fall which indicating there is no trend in this market. Most probably the only "bright" spot in this chart is that price has managed to close back above the lower Bollinger Band. But since the Stochastic remains negative, so I would not think too much on it yet.

Summarily speaking:- this market seems to be turning slightly bullish in the short term, but the longer parameter weekly chart does not support this yet. I would keep all my trading very short term.