They first sold futures in the morning and later in the afternoon, they sold cash market - KLCI. I do see our KLCI wud sell off the next 2 days.
Notice the high volume by KLCI, this cud be the reversal bar for market to turn downtrend.
Tuesday, May 20, 2008
5:36 pm - Serious selldown by KLCI after it fail to close 1,300
They first sold futures in the morning and later in the afternoon, they sold cash market - KLCI. I do see our KLCI wud sell off the next 2 days.
3:25 pm - KLCI on a daily basis cannot break out on 2nd attempt.
KLCI will pull back if it cannot break. KLCI may move sideway or down !
2:48 pm - KLSE Market Outlook by Bill Wermine
Dear Traders,
Next week 24 May Saturday is our monthly Traders Club to be held at Phillips Training Room at 10 AM to 12 PM. Speakers include Mr Teo, analist from Jupiter Securities who will give his technical outlook and current opportunities. We will also play a segment of a DVD from Larry Levin an S & P trader from Chicago as he shares his favorite Candlestick pattern. We welcome any one with something to share. Please contact me or Martin if you wish to contribute.
Market Outlook
Next week 24 May Saturday is our monthly Traders Club to be held at Phillips Training Room at 10 AM to 12 PM. Speakers include Mr Teo, analist from Jupiter Securities who will give his technical outlook and current opportunities. We will also play a segment of a DVD from Larry Levin an S & P trader from Chicago as he shares his favorite Candlestick pattern. We welcome any one with something to share. Please contact me or Martin if you wish to contribute.
Market Outlook
Above is a weekly chart of the Australian Dollar futures contract as traded on the CME. It tells a lot about the state of the world economy. On friday it traded above the 95 level. IT appears to be on course to test 100 or parity to the US Dollar an all time record high. This shows the dollar will weaken. I know everyone is bullish the US Dollar now but the chart says another story. Listen to what the market is saying about it self- not what others are saying about the market.
The Australian dollar strength reflects the out of control money printing by world central banks in their frantic effort to prevent a world stock market collapse and economic recession. This money printing has resulted in asset price inflation of grains, metals, oil and stock prices as world investors are receiving negative real interest rates on their fixed deposits. THis is why there is a rush to buy real assets. The Australian dollar reflects the strong metal and coal prices as well as other natural resources which Australia has
As long as Bush is in power expect more of the same. Bush and his chronies will lie and attempt to mislead you that everything is wonderful- that their is low inflation, housing prices are near recovery, they are winning the war in Iraq, no recession, low unemployment, credit problems solved etc.
He has the talking heads on CNBC and Bloomberg to act as his cheerleaders. These are the mouthpeaces of the financial power structure on Wall St.
Gold is an asset that has no counterparty risk and is the ultimate inflation hedge. Despite massive efforts by central banks and the Bush administration to hold down the price of gold. gold broke a major resistance Friday at USD 900. The price of Gold does not lie unlike the politicians who would lead us down the path of distruction of our financial assets.
What is the answer ? If you are not able to actively trade commodities, currencies and stock futures continue to invest in Man Hedge Funds- especially the Aussie Dollar Hedge Fund. It continues to perform- up 8 % this quarter and you get the currency gain to boot as well as a proven inflation hedge. Man will soon be launching a new Eclipse fund so get your funds ready. If you invest through me, you will get your sales charges rebated.
I expect the KLSE to gradually recover in line with other world markets as long as Bush and his plunge protection team- Helicopter Ben and Paulsen keep printing money. as well as other central banks. Stick with high quality dividend payers for now. This is where smart money will put their assets.
Have a good week ahead
Bill
PS PLease let me know if you wish to attend next weeks traders club as seats are limited.
Also TradeGuider will soon launch their new upgradewith some
amaizing features- the upgrade isFOC to TG Owners. I adv ise our recent graduates to check out TG- it can pay for itself quickly
The Australian dollar strength reflects the out of control money printing by world central banks in their frantic effort to prevent a world stock market collapse and economic recession. This money printing has resulted in asset price inflation of grains, metals, oil and stock prices as world investors are receiving negative real interest rates on their fixed deposits. THis is why there is a rush to buy real assets. The Australian dollar reflects the strong metal and coal prices as well as other natural resources which Australia has
As long as Bush is in power expect more of the same. Bush and his chronies will lie and attempt to mislead you that everything is wonderful- that their is low inflation, housing prices are near recovery, they are winning the war in Iraq, no recession, low unemployment, credit problems solved etc.
He has the talking heads on CNBC and Bloomberg to act as his cheerleaders. These are the mouthpeaces of the financial power structure on Wall St.
Gold is an asset that has no counterparty risk and is the ultimate inflation hedge. Despite massive efforts by central banks and the Bush administration to hold down the price of gold. gold broke a major resistance Friday at USD 900. The price of Gold does not lie unlike the politicians who would lead us down the path of distruction of our financial assets.
What is the answer ? If you are not able to actively trade commodities, currencies and stock futures continue to invest in Man Hedge Funds- especially the Aussie Dollar Hedge Fund. It continues to perform- up 8 % this quarter and you get the currency gain to boot as well as a proven inflation hedge. Man will soon be launching a new Eclipse fund so get your funds ready. If you invest through me, you will get your sales charges rebated.
I expect the KLSE to gradually recover in line with other world markets as long as Bush and his plunge protection team- Helicopter Ben and Paulsen keep printing money. as well as other central banks. Stick with high quality dividend payers for now. This is where smart money will put their assets.
Have a good week ahead
Bill
PS PLease let me know if you wish to attend next weeks traders club as seats are limited.
Also TradeGuider will soon launch their new upgradewith some
amaizing features- the upgrade isFOC to TG Owners. I adv ise our recent graduates to check out TG- it can pay for itself quickly
11:22 am - Acostech on a weekly basis to head higher !
Watch out this counter ! Volume is coming in a bit. A good dividend yield counter.
10:33 am - Watch out this counter ! Pelikan . Big players have bought into this company
I believe this is the beginning of building a base here ! This is a weekly chart for Pelikan.
10:18 am - Kinsteel has to move sideway - either Stage 1/3
It has to build a base either to distribute or accumulate before moving on !10:06 am - There is a follow thru for Maybulk for this week Chart of the Week !
Buy now and place your stop below the pivot point.
9:58 am - KLCI is holding its back before proceeding.
It needs good volume to sufficiently closed above 1300 today !
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