FCPO Review For 24 Till 28 October 2011

Palm Oil Has First Weekly Gain in Four on Chinese Oilseed Demand Outlook

 

Palm oil advanced to the highest level in more than two weeks after soybeans gained on speculation that China may boost imports to meet rising demand.

The December-delivery contract gained 2.2 percent to 2,906 ringgit ($929) a metric ton on the Malaysia Derivatives Exchange, the highest level at close since Sept. 28. Futures advanced 4.8 percent this week, the first in four weeks.

 

“Palm oil is taking cues from the gains in soybean because of demand by end users in China,” Ker Chung Yang, an analyst at Phillip Futures Pte., said by phone from Singapore today. “China will be stepping up purchases due to positive crush margins and strong demand from the livestock industry.”

 

China’s soybean imports rose 4 percent to a record 52.3 million tons in the year ended Sept. 30, according to customs data. U.S. soybeans inspected for export more than doubled to 23.4 million bushels in the week ended Oct. 6 from a week earlier, with two-thirds set for China, the Department of Agriculture said this week.

 

Soybean futures for November delivery climbed as much as 0.7 percent to $12.66 a bushel, the highest level since Sept. 27, and traded at $12.65 on the Chicago Board of Trade.

 

India Purchases Palm oil futures may climb to 3,150 ringgit a ton in the next two months, Ravi Chandra, vice president at Hyderabad, India-based TransGraph Consulting Pvt., said yesterday. Palm oil last traded above that level in July.

 

Refined, bleached, and deodorized palm oil imports by India, the largest buyer, rose 54 percent to 143,296 tons in September, while crude palm oil purchases declined 6.7 percent to 548,904 tons, the Solvent Extractors’ Association of India said today.

 

“The huge discount to soy will continue to attract buying interest on any major falls,” Gnanasekar Thiagarajan, a director at Commtrendz Research Management Services Pvt. in Mumbai, said in a report today.

 

Soybean oil’s premium over palm oil was $236.8 a ton today, compared with an average of $166.31 this year. It touched $289.96 a ton on Aug. 31, the highest since November 2008, according to Bloomberg data.

 

Soybean oil for December climbed as much as 1.2 percent to 53.09 cents per pound. Palm and soybean oils are substitutes in food and fuel uses.

 

Palm oil for delivery in May climbed 0.5 percent to close at 8,024 yuan ($1,258) per ton on the Dalian Commodity Exchange and soybean oil for delivery in the same month advanced 0.6 percent to end at 9,376 yuan a ton.

 

DJIA : BULL HAS BLEEDED !!!!!

After showing a lack of direction throughout much of the trading session on Wednesday, stocks came under considerable selling pressure following the announcement of the Federal Reserve's latest effort to boost the sluggish economic recovery.

 

The major averages accelerated to the downside going into the close, ending the session near their worst levels of the day. The Dow plunged 283.82 points or 2.5 percent to 11,124.84, the Nasdaq tumbled 52.05 points or 2 percent to 2,538.19 and the S&P 500 plummeted 35.33 points or 2.9 percent at 1,166.76.

 

The selling pressure on Wall Street emerged after the Fed announced its widely expected move to stimulate the economy by replacing short-term securities in its bond portfolio with longer-term securities.

 

The Fed said that it intends to purchase $400 billion worth of securities with remaining maturities of 6 years to 30 years by the end of June 2012, funding the purchase with the sale of an equal amount of securities with remaining maturities of 3 years or less.

 

"This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative," the Fed said.

 

At the same time, the central bank noted that economic growth remains slow and warned that there are significant downside risks to the economic outlook.

 

Commenting on the Fed announcement, Paul Ashworth, Chief U.S. Economist at Capital Economics, said, "The big question is whether this latest action will accomplish anything? We doubt it."

 

"The cost of borrowing simply isn't the problem," he added. "Businesses don't have the confidence to invest and half of all mortgage borrowers don't have the home equity needed to refinance at lower rates."

 

With all eyes on the Fed, traders largely shrugged off the release of a report from the National Association of Realtors showing a much bigger than expected increase in existing home sales in the month of August.

 

In corporate news, shares of Microsoft (MSFT) came under pressure on the day even though the software giant announced a 25 percent increase in its quarterly dividend to $0.20 per share. The company also said it is continuing its $40 billion share repurchase program.

 

Meanwhile, Oracle (ORCL) bucked the downtrend after reporting first quarter results that exceeded analyst estimates. The business software giant also forecast second quarter earnings in line with analyst estimates. Shares of Oracle rose by 4.2 percent to a nearly-two month closing high.

 

Adobe Systems (ADBE) also closed higher after the publishing and design software maker reported better than expected third quarter earnings and forecast fourth quarter results toward the high end of analyst estimates.

 

While most of the major sectors came under pressure following the Fed announcement, railroad stocks saw substantial weakness throughout the trading day. The Dow Jones Railroads Index tumbled by 7 percent to an eleven-month closing low.

 

Steep losses by Norfolk Southern (NSC) and CSX Corp. (CSX) contributed to the weakness in the railroad sector, which came after two coal producers lowered their forecasts for coal shipments this year.

 

Considerable weakness was also visible among steel stocks, as reflected by the 2.4 percent loss posted by the NYSE Arca Steel Index. The index fell to its worst closing level in over two years amid concerns about the outlook for global demand.

 

Banking stocks also came under significant selling pressure on the day, resulting in a 5.5 percent loss by the KBW Bank Index. Bank of America (BAC) turned in one of the sector's worst performances after Moody's downgraded its rating on the financial giant's debt.

 

Commercial real estate, trucking, and oil service stocks also posted notable losses amid the broad based weakness that emerged after the Fed announcement.

 

Other Markets

 

In overseas trading, stock markets across the Asia-Pacific region closed mostly higher on Wednesday, although Hong Kong's Hang Seng Index bucked the uptrend. Japan's Nikkei 225 Index edged up by 0.2 percent, while China's Shanghai Composite Index surged up by 2.7 percent.

 

Meanwhile, the major European markets showed notable moves the downside on the day. The German DAX Index tumbled by 2.5 percent, while the French CAC 40 Index and the U.K.'s FTSE 100 Index fell by 1.6 percent and 1.4 percent, respectively.

 

In the bond market, treasuries moved sharply higher following the announcement from the Fed. As a result, the yield on the benchmark ten-year note, which moves opposite price, fell by 7.2 basis points to a record closing low of 1.875 percent.

 

Looking Ahead

 

Economic data may attract some attention on Thursday, with the Labor Department due to release its weekly report on initial jobless claims. The Conference Board is also due to release its report on leading economic indicators in the month of August.

 

On the earnings front, delivery giant FedEx (FDX) is among the companies that are due to release their quarterly results before the start of trading on Thursday.

DJIA : BULL STILL ALIVE

While stocks moved sharply lower in early trading on Monday amid renewed concerns about the financial situation in Europe, a substantial recovery attempt seen late in the trading day helped to lift the major averages well off their worst levels of the day.

 

After falling by over 250 points early on, the Dow closed down 108.08 points or 0.9 percent at 2,612.83. The tech-heavy Nasdaq briefly peeked into positive territory in late-day trading but still closed down 9.48 points or 0.4 percent at 2,612.83, while the S&P 500 fell 11.92 points or 1 percent to 1,204.09.

 

The sharp sell-off seen early in the trading day came as U.S. stocks followed the global markets lower, as the concerns about Europe inspired traders to cash in on the strength that was seen last week.

 

Much of the selling pressure stemmed from news that a weekend meeting of European officials failed to make progress on dealing with Greece's mountain of debt, raising concerns that the debt-plagued nation could be forced to default.

 

Disappointing housing data may also have contributed to the early weakness, with a report from the National Association of Home Builders showing an unexpected deterioration in homebuilder confidence in the month of September.

 

The report showed that the NAHB/Wells Fargo Housing Market Index dropped to 14 in September from 15 in August. The modest drop surprised economists, who had expected the index to remain unchanged.

 

However, stocks showed a notable move back to the upside after Greece described a conference call between Finance Minister Evangelos Venizelos and officials from the European Commission, the International Monetary Fund and the European Central Bank as "productive and substantive."

 

Greece said that the conference call, during which the officials discussed further measures the country must take to receive additional aid, would resume on Tuesday.

 

Traders were also digesting a budget deficit reduction proposal offered by President Barack Obama that includes $1.5 trillion in tax increases mostly targeting the wealthy.

 

Obama sent the plan to the budget super committee, calling for a balanced approach to deficit reduction and saying that the plan would produce net savings of more than $3 trillion over the next decade.

 

Sector News

 

Despite the recovery attempt seen in late-day trading, financial stocks still saw substantial weakness on the day amid lingering concerns about the global economic outlook.

 

Brokerage and banking stocks both saw considerable weakness, with the NYSE Arca Broker/Dealer Index and the KBW Bank Index falling by 3.1 percent and 2.8 percent, respectively. Morgan Stanley (MS) turned in one of the sector's worst performances, sliding by 7.9 percent

 

Significant weakness was also visible among railroad stocks, as reflected by the 3 percent loss posted by the Dow Jones Railroads Index. The loss by the index came after it closed higher in each of the four previous sessions.

 

Steel, electronic storage, and commercial real estate stocks also posted notable losses on the day but ended the session well off their worst levels.

 

Other Markets

 

In overseas trading, stock markets across the Asia-Pacific region saw considerable weakness on Monday, although the Japanese markets were closed for a public holiday. Hong Kong's Hang Seng Index tumbled by 2.8 percent, while Australia's All Ordinaries Index fell by 1.6 percent.

 

The major European markets also came under significant selling pressure on the day. The U.K.'s FTSE 100 Index slid by 2 percent, while the German DAX Index and the French CAC 40 Index plunged by 2.8 percent and 3 percent, respectively.

 

In the bond market, treasuries saw considerable strength after showing a notable move to the downside last week. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 13.6 basis points to 1.94 percent.

 

Looking Ahead

 

While any further developments in Europe will likely drive trading on Tuesday, traders may also keep an eye on the Commerce Department's report on housing starts in the month of August. Economists expect housing starts to slip to an annual rate of 592,000 from 604,000 in July.

FCPO MALAYSIA CRUDE PALM OIL FUTURES REVIEW FOR 19 SEPT 2011

FCPO MALAYSIA CRUDE PALM OIL FUTURES BASED ON ANDREW PITCHFORK 60 MINUTE CHART By Tokan Corner :

As  the chart and Andrew Pitchfork show. The FCPO has touched the Upperline of Andrew Pitchfork  ( Down Trend ) on last 14 SEPT 2011 after Mad Bull Rampaging on last 10 minute last trade. It started when it breakout from 3020 point area. ( Last Wed Statement )

And as on last Thursday it do really  gap down….. the market dragged about for 4 hour before it make it move on the 5^th hours when the candle started to be outside of the Andrew Pitchfork Resistance Line and the Bull started to rampaging again till 3087 and closed at 3078 .

As for 19092011 Support Target area is at 3040 -3020 zone area for Support zone.

Resistance is  at 3086 – 3100

Reminder !!! Below 3010 we might going to Bear Land Again.

 

Updated  : Soybean Oil Price Chart From Forex Pros

( It may go down to 53.00 USD again )

Reminder  PLS Put TS ok Guys J

 

Read My Previous Post On Cpo : http://tokancorner.com/2011/09/bursa-malaysia-fkli-futures-trading/fcpo-malay...

BURSA MALASIA FKLI FUTURES TRADING ON 60 MINUTE CHART ON ANDREW PITCHFORK REVIEW FOR 19 SEPT 2011

Malaysia Futures Trading FKLI 60 minute Chart By Tokan Corner :

As  the chart and Andrew Pitchfork show. The FKLI has stopped at Middle  of Andrew Pitchfork line.  The EMA and SMA still sell signal but due to the strong  of Dow Jones it may be followed by FBM KLCI and  FKLI Futures to rally . And my opinion  on last week regarding

“Dow Jones still have 200+ to 300 +  point to  kick off from the buckets   and as long 10700 can withstand the selling force then we might seen a Long Rally on Wave 3 based on Elliot Wave but below 10600 it will be a false alarm on the wave and may go down more”

Is still intact and already hold it firmly. ^_^

As on the chart is has put a square ( red / green ) to my target area that is around 1427 to 1430 to Buy On Dips and 1446 to 1456 To Sell On Strength  . 

 

FCPO MALAYSIA CRUDE PALM OIL FUTURES REVIEW FOR 15 SEPT 2011

FCPO MALAYSIA CRUDE PALM OIL FUTURES BASED ON ANDREW PITCHFORK 60 MINUTE CHART By Tokan Corner :

As  the chart and Andrew Pitchfork show. The FCPO has touched the Upperline of Andrew Pitchfork  ( Down Trend ) on last 14 SEPT 2011 after Mad Bull Rampaging on last 10 minute last trade. It started when it breakout from 3020 point area.

As for 14092011 the market has rebounced after it break up from 3020 point then rebounced back to 3065 due to unknown factor to me  ( ???? )

As for Tomorrow  Support Target area is at 3040 -3010 zone area for Support zone.

Resistance still at at 3076 – 3083

Reminder !!! Below 3010 we might going to Bear Land Again.

 

Reminder  PLS Put TS ok Guys J

 

 

FCPO MALAYSIA CRUDE PALM OIL FUTURES REVIEW FOR 12 SEPT 2011

FCPO MALAYSIA CRUDE PALM OIL FUTURES BASED ON ANDREW PITCHFORK 60 MINUTE CHART By Tokan Corner :

As  the chart and Andrew Pitchfork show. The FCPO has touched the lowerline of Andrew Pitchfork on last 08 SEPT and it has builded a Dragon Fly Doji on that day.

As for 09092011 the market has rebounced after it breakdown to 3033 point then rebounced back to 3050 due to Soybean Oil price hiked up.

And as for tomorrow FCPO may gap up to 3060 -3067 point due to strong rebounce on Soybean Oil.

As for Tomorrow Target area is at 3076 -3083 zone area for resistance zone.

 

Supplement : Soybean Oil Price Chart From Forex Pros

BURSA MALASIA FKLI FUTURES TRADING ON 60 MINUTE CHART ON ANDREW PITCHFORK REVIEW FOR 12 SEPT 2011

Malaysia Futures Trading FKLI 60 minute Chart By Tokan Corner :

As  the chart and Andrew Pitchfork show. The FKLI has stopped above  1^st upperline of Andrew Pitchfork resistance line.  The EMA and SMA still holding but due to the weaknesses of Dow Jones it may drag the FKLI Futures down. And my opinion Dow Jones still have 200+ to 300 +  point to  kick off from the buckets   and as long 10700 can withstand the selling force then we might seen a Long Rally on Wave 3 based on Elliot Wave but below 10600 it will be a false alarm on the wave and may go down more.

As on the chart is has put a spot ( circle ) to my target area that is around 1446 and 1438 to Buy On Dips. And can start to short at current price or below with a TS at the 1^st Upperline.

 

See my post on 24 Aug 2011 >> http://tokancorner.com/2011/08/bursa-malaysia-fkli-futures-trading/bursa-malasia-fkli-futures-trading-on-60-minute-chart-on-andrew-pitchfork-review-for-24-augs-2011/

 

Bursa Malaysia Trading KLSE FBM KLCI 60 minute Chart By Tokan Corner :

As a supplement let we see on Cash Market chart, as we can see the FBM KLCI  touched the upperline of Andrew Pitchfork and has formed a Shooting Star Doji.

MACD is nearing to entering DC ( Death Cross ) and the Slow Stoch is going South.

Just watch out for 1460 point area !! If that cant withstand then the selling force  will be bigger and we will enter SELLER mode again.

Based on Andrew Pitchfork my next target support is at  1442 / 1445 area…

If that also breakout then end of story … (1350 will be tested )

 

 

FCPO MALAYSIA CRUDE PALM OIL FUTURES REVIEW FOR 09 SEPT 2011

Sorry guys just a pic only xsempat on explanation… just view the pic and analyse it ok guys J

BURSA MALASIA FKLI FUTURES TRADING ON 60 MINUTE CHART ON ANDREW PITCHFORK REVIEW FOR 9 SEPT 2011

Sorry guys just a pic only xsempat on explanation… just view the pic and analyse it ok guys J

 

Earth Quake? At 2 am on Malaysia Time

Gosh at 2 am i just feel the tremor and my house is shaking... Do u guys feels it too? It just feel like a few years ago when tsunami hits acheh... wish there will be no bads news tmr

BURSA MALASIA FKLI FUTURES TRADING ON 60 MINUTE CHART ON ANDREW PITCHFORK REVIEW FOR 06 SEPT 2011

While the rebound last week offers some hope, tumbling US and European markets last Friday sparked by stagnating August employment numbers in the US, which renewed recession fears, would set a negative tone this week.

 

Thus, expect fresh downside volatility with any near-term strength likely to be matched with keen selling interest, as investors look to reduce stock holdings. So, stay defensive and look to sell on strength.

 

Chart wise, only buy into sharp dips to stronger retracement supports on blue chips such as AirAsia, CIMB, Gamuda, Genting Bhd, IOI Corp, RHB Capital, Sime Darby and TM.

 

In the meantime, the local index must hold above the crucial pivot low support at 1,423.47 on August 9, which is reinforced by 1,420, the 50 per cent Fibonacci Retracement (FR) of uptrend from the 1,243 low of May 27 2010 to the 1,597.08 record high of July 11, to prevent a deeper correction to 1,378, the 61.8 per cent FR, with next significant retracement support at 1,327, representing the 76.4 per cent FR.

 

Immediate upside hurdles stays at 1,490 and 1,510, the respective 38.2 per cent FR and 50 per cent FR levels of the sell-off from the 1,597.08 record high to the recent extreme low of 1,423.47, with the formidable hurdle staying at 1,530, the 61.8 per cent FR matching the 200-day moving average.

 

Tokan Corner Will Be On Raya Mode Till 07/09/2011

Here Tokan Corner Want To Wish To All Muslim and All Traders " Selamat Hari Raya Aidil Fitri"

" Maaf Zahir Batin"

 

DJIA Commentary : Stocks Close Firmly Positive On Late Day Strength

After showing a lack of direction throughout much of the session, stocks moved sharply higher in the latter part of the trading day on Wednesday. The markets extended the strong upward move seen in the previous session, regaining some ground following the substantial weakness seen in recent weeks.

 

The major averages all closed firmly in positive territory, near their best levels of the day. The Dow jumped 143.95 points or 1.3 percent to 11,320.71, the Nasdaq rose 21.63 points or 0.9 percent to 2,467.69 and the S&P 500 shot up 15.25 points or 1.3 percent to 1,177.60.

 

The strength in the markets may have been partly due to some upbeat economic data, with a report from the Commerce Department showing a much bigger than expected increase in durable goods orders in the month of July.

 

The report showed that durable goods orders came in at $201.5 billion, an increase of $7.7 billion or 4 percent from the previous month. Most economists had predicted a more modest 2 percent increase.

 

Additionally, June orders were revised upward to show a less steep, 1.3 percent decline compared to the 2.1 percent drop initially reported.

 

Paul Dales, Senior U.S. Economist at Capital Economics, said, "July's U.S. durables goods orders are certainly not as good as they look. Nonetheless, they still suggest that business investment growth may actually accelerate in the third quarter."

 

However, traders continued to express uncertainty about the next move by the Federal Reserve, looking ahead to Fed Chairman Ben Bernanke's speech at a conference in Jackson Hole, Wyoming, on Friday.

 

While Bernanke is not expected to announce any specific plans for the Fed, traders will be paying close attention to his remarks for any indications regarding the likelihood of further economic stimulus efforts from the central bank.

 

Meanwhile, traders largely shrugged off news that Moody's lowered its rating on Japanese government debt. Moody's cut the rating to Aa3 from Aa2, citing "weak" economic prospects that could hamper the government's ability to meet deficit reduction targets.

 

Sector News

 

Banking stocks saw considerable strength on the day, helping to lead the markets higher. The KBW Bank Index surged up by 3.3 percent, climbing further off the two-year closing low it set on Monday.

 

Bank of America (BAC) turned in one of the sector's best performances, jumping by 11 percent after ending the previous session at its worst closing level in well over two years.

 

Significant strength also emerged among housing stocks, as reflected by the 3.7 percent gain posted by the Philadelphia Housing Sector Index. Within the sector, Toll Brothers (TOL) rose by 4.6 percent after reporting better than expected third quarter earnings.

 

Defense and utilities stocks also showed strong upward moves, driving the Philadelphia Defense Sector Index and the Dow Jones Utilities Average up by 2.1 percent and 1.9 percent, respectively.

 

While most of the other major sectors also moved to the upside, gold stocks posted steep losses amid a sharp pullback by the price of the precious metal. The NYSE Arca Gold Bugs Index fell by 2.2 percent, as gold for December delivery plummeted $104 to $1,757.30 an ounce.

 

Other Markets

 

In overseas trading, stock markets came under pressure on Wednesday amid the news of the downgrade of Japan's credit rating. Japan's benchmark Nikkei 225 Index fell by 1.1 percent, while Hong Kong's Hang Seng Index dropped by 2.1 percent.

 

Meanwhile, the major European markets showed notable moves to the upside on the day. The U.K.'s FTSE 100 Index rose by 1.5 percent, the French CAC 40 Index advanced by 1.8 percent, and the German DAX Index surged up by 2.7 percent.

 

In the bond market, treasuries saw considerable weakness, pulling back further off their recent highs. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 12.3 basis points to 2.26 percent.

 

Looking Ahead

 

While the Labor Department's weekly jobless claims report may attract some attention on Thursday, trading activity may be somewhat subdued ahead of Bernanke's speech on Friday.

 

Get Ready To Start Engine Guys :)

Get Ready To Fly To The Moon ^_^

Emas jatuh lebih daripada 5%, jatuh di bawah $ 1,700

Emas jatuh lebih daripada 5%, jatuh di bawah $ 1,700

 

SAN FRANCISCO-Gold niaga hadapan turun lebih daripada 5% Rabu, perdagangan di bawah $ 1.700 auns dan melanjutkan kerugian untuk hari kedua sebagai pembetulan yang bermula selepas lima rekod dalam enam sesi tiba-tiba mendapat lebih curam.

 

Emas untuk penghantaran Disember GC1Z -5,45% susut $ 80,20, atau 4.3%, $ 1,781.10 auns pada divisi Comex New York Mercantile Exchange.

 

Kontrak jatuh $ 30,60 hari Selasa hingga akhir dari $ 1,861.30 auns. Gold terakhir mencecah rekod penyelesaian pada hari Isnin, apabila ia selesai dari $ 1,891.90 auns.

 

Pelabur ditempah keuntungan mereka selepas gagal untuk menakluk $ 1.900 auns, kata penganalisis. Baca blog post kira-kira 10 emas hari terburuk.

 

"Orang yang membuat banyak wang dengan cepat meninggalkan perdagangan untuk kembali pada titik yang lebih rendah," kata Matt Zeman, kepala peniaga dan strategis di Kingsview Kewangan di Chicago.

 

Pelabur memihak pelaburan dianggap lebih berisiko, dengan ekuiti yang lebih tinggi dan dolar yang lebih rendah menggoyahkan kepentingan emas, katanya.

 

Pasaran juga sibuk dengan bercakap tentang keperluan margin yang mungkin meningkat di Amerika Syarikat selepas Shanghai Gold Exchange menaikkan margin Selasa.

 

Pelabur bimbang CME Group Inc, ibu bapa Comex syarikat, boleh menyusul. CME menaikkan keperluan margin emas dua minggu lalu bertindak balas kepada turun naik meningkat di tengah-tengah kenaikan mendadak untuk diniagakan dalam beberapa minggu kebelakangan ini.

 

Emas telah mendapat kira-kira 25% daripada paras terendah dalam awal bulan Julai, dengan kebanyakan penganalisis meramalkan $ 2,000 auns dalam masa beberapa minggu dan bank-bank besar seperti Citigroup dan UBS untuk meningkatkan ramalan harga mereka.

 

"Langkah-langkah kecil dalam penghindaran risiko global dan seminggu yang lebih atau kurang tenang berikutan turun naik baru-baru ini (dengan beberapa peristiwa makro penting yang dijangka sehingga Jumaat) akhirnya mencetuskan beberapa menyegiempatkan buku sebagai pelabur bergegas untuk menetapkan keuntungan," kata penganalisis di VTB Modal dalam nota .

 

Harga boleh jatuh satu lagi $ 100 atau $ 200, Zeman Kingsview berkata. "Dalam jangka panjang, saya masih positif pada emas. Sikap tidak bertanggungjawab fiskal here to stay "dan kebimbangan inflasi telah menjalar sehingga, katanya.

 

Pasaran sedang menunggu untuk mendengar dari Pengerusi Rizab Persekutuan, Ben Bernanke, yang dijadual berucap pada perhimpunan yang terdiri daripada bank-bank pusat di Jackson Hole, Wyo., pada hari Jumaat.

 

Jangkaan Bernanke tidak akan mendedahkan lebih banyak rangsangan telah juga menyumbang kepada kejatuhan emas.

 

Pada perhimpunan tahun lalu, Bernanke mengumumkan pusingan kedua pelonggaran kuantitatif. Sebarang tanda-tanda program yang sama mungkin akan memberi manfaat kepada emas.

 

Terdahulu, Rabu, pelabur bergelut dengan Investors Service berita Moody memotong hutang kerajaan Jepun untuk AA3 dari Aa2 dengan unjuran stabil, memetik defisit yang besar di negara ini dan peningkatan terkumpul dalam hutang kerajaan sejak 2009.

 

Sementara itu, perak dikesan emas lebih rendah, dengan kontrak September SI1U -6,61% down $ 1.86, atau 4.4%, $ 40,43 auns.

 

Tembaga menongkah trend negatif. September kontrak logam HG1U 0,08% ditambah kurang dari 1 sen, atau 0.2%, $ 4 £.

 

Sila study djia chart semasa.

 

BURSA MALASIA FKLI FUTURES TRADING ON 60 MINUTE CHART ON ANDREW PITCHFORK REVIEW FOR 25 AUG 2011

FBM KLCI traded lower at close

 

KUALA LUMPUR: The FBM KLCI and other stock markets in Asia slipped on Wednesday, as investors took in Moody's downgrade of its rating on Japanese government debt and shrugged off both a surge on Wall Street and fresh efforts by the Japanese government to prop up feeble economic growth.

 

In the news were CIMB Group Holdings Bhd, which announced record second quarter earnings and Axiata Group Bhd, which also saw its net profit rise in the similar quarter.

 

However, local airlines Malaysia Airlines (MAS) and AirAsia Bhd saw higher fuel cost eat into their second quarter operating numbers, with MAS posting a net loss of RM526.68mil while AirAsia posted a slight drop in its net profit at RM104.26mil.

 

Over in Singapore, its inflation accelerated to the fastest pace since January as transportation and housing cost increased. The consumer price index rose 5.4% last monthg from a year earlier, higher than the median survey of 5%.

 

Meanwhile the Federal Reserve chairman Ben Bernanke will be speaking at an annual gathering in Jackson Hole, Wyoming this Friday. Markets will be searching for something, anything, that indicates whether more stimulus is on the way.

 

A year ago during this same conference, Bernanke, described all the weapons the Fed had available to rescue the economy. Several months later, the Fed opened its arsenal and began a major asset-purchasing program intended to stimulate growth.

 

Over in the US, markets closed near session highs, with the Dow Jones posting its biggest gain in almost two weeks, despite a 5.8-magnitude earthquake in Virginia and after investors shrugged off a handful of disappointing economic news.

 

The Dow Jones Industrial Average added 2.97% or 322.11 points at 11176.76. Nasdaq Composite rose 4.29% or 100.68 points at 2446.06. Standard & Poor's 500 advanced 3.43% or 38.53 points at 1162.35.

 

On economic data front, new home sales dipped in July, to a five month low, falling nearly 1% to a seasonally adjusted annual rate of 298,000.

 

At 5pm, the FBM KLCI was down 13.22 points to 1,469.15. There were a total of 209 gainers and 528 losers with 294 stocks unchanged.

 

Tokyo's Nikkei 225 was down 1.07% to 8,639.61 and Hong Kong's Hang Seng Index was down 2.06% to 19,466.79.

 

Shanghai's A index was down 0.51% to 2,541.09 while Taiwan's Taiex Index was down 0.63% to 7,502.93.

 

Seoul's Kospi Index was down 1.23% to 1,754.78, with Singapore's Straits Times Index down 1.57% to 2,721.81.

 

Nymex crude oil was down $0.21 to US$85.23 per barrel.

 

Spot gold was up US$23.55 at US$1,852.18 per ounce.

 

The Ringgit was traded at 2.9785 to the Dollar

 

“Buy On Dip ( At Support Line) And Sell At resistance ( Upperline )”

BURSA MALAYSIA FBM KLCI REVIEW FOR 25082011

Share prices on Bursa Malaysia finished broadly lower following other regional markets, which also witnessed earlier gains wiped off in a knee-jerk reaction after Moody's cut Japan's credit rating.

 

At close, the FTSE Bursa Malaysia KLCI (FBM KLCI) dipped 13.22 points or 0.9 per cent to 1,469.15, way off the day's high of 1,487.27, which was spurred by overnight gains on Wall Street on speculation of a stimulus plan to boost the United States' faltering growth. The FBM KLCI had opened 2.78 points higher at 1,485.15.

 

"The market fell abruptly as investors realised that the downgrade will have a negative effect on rest of Asia, although it is not as bad as U.S.," Jupiter Securities head of research Pong Teng Siew told Bernama here, today.

 

Moody's Investors Service cited large budget deficits and a buildup of debt since the 2009 global recession to cut its rating on Japan's government debt by one notch to Aa3, which also signals weak growth prospects.

 

Standard & Poor’s had downgraded the U.S. credit rating to AA+ from AAA.

 

"The impact of the downgrade is that Tokyo can't give near zero interest rates on government bond but the advantage is that 95 per cent of the government bonds are purchased by the domestic market," he explained.

 

On the flip side, even the five per cent of external buyers will probably shun away from the market, which doesn't augur well for Tokyo, he said.

 

A weaker Japanese economy will curtail the world's third largest economy's import capability and that will affect exporting nations like Malaysia, said Pong.

 

Japan's Nikkei shed 1.07 per cent to 8,639.61, Hong Kong's Hang Seng Index dropped 2.06 per cent to 19,466.79, Singapore's Straits Times Index eased 1.66 per cent to 2719.90 and Taiwan’s Taiex was down 0.63 per cent to 7,502.93.

 

"With Japan's credit rating being cut, investors turned more pessimistic and we are off for another roller coaster ride," said an analyst.

 

Globally, stock markets are waiting for some hints from US Federal Reserve Chairman Ben S. Bernanke of a possible stimulus plan this Friday, he said.

 

However, for now the volatility is here to stay, he warned.

 

Today, Bursa Malaysia's Finance Index shed 77.82 points to 14,032.16, the Plantation Index dipped 8.11 points to 7,281.83 and the Industrial Index slipped 56.54 points to 2,694.92.

 

The FBM Emas Index declined 92.88 points to 10,045.23, the FBM70 Index dipped 105.75 points to 10,946.47 and the FBM Ace eased 33.73 points to 3,764.0.

 

Decliners outnumbered advancers by 528 to 209 while 924 counters were unchanged and 448 others untraded.

 

A total of 892.352 million shares worth RM1.857 billion were traded today, up from 875.521 million shares valued at RM1.762 billion traded on Tuesday. -- Bernama

 

FCPO MALAYSIA CRUDE PALM OIL FUTURES REVIEW FOR 25 AUG 2011

Palm futures steadier on external boost

 

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday on positive support from external markets.

 

A dealer said firmer soyaoil, soyabean and crude oil market had all pushed palm oil higher. He added that the market is likely to remain supportive until the Hari Raya Puasa.

 

However, another dealer said that most traders are still cautious over uncertainties in the global economy.

 

Spot month September gained RM36 to close at RM3,161 a tonne and October added RM48 to RM3,104. The benchmark month of November added RM46 to RM3,068 and December gained RM46 to RM3,054.

 

 

OIL

 

LONDON: Oil prices rose yesterday, boosted by better-than-expected manufacturing data in Germany and China and by uncertainty in Libya where government loyalists staged a fight back.

 

At 1206 GMT, Brent crude was up 31 cents (US$1.00 = RM2.97) to US$108.66 a barrel. US October crude was up US$1.06 to US$85.46, supported by expectations that US oil stockpiles released later in the session may drop.

 

But Brent — a benchmark measuring oil prices from Atlantic fields — continued to underperform US crude, equities and other commodities like copper, with expectations the Libyan conflict will come to a conclusion relatively soon, limiting gains.

 

RUBBER

 

THE Malaysian rubber market closed higher yesterday in line with the increased futures prices on the Tokyo Commodity Exchange (Tocom), dealers said.

 

A dealer said there was buying interest recorded but it was still very slow. “Buyers are waiting for prices to go lower,” he added.

 

At noon, the Malaysian Rubber Board’s official physical price for the SMR 20 was up 1 sen to 1,346.50 sen a kg while latex-in-bulk gained 2.5 sen to 861 sen a kg.

 

TIN

 

THE Kuala Lumpur Tin Market (KLTM) rose by US$150 to close at US$22,950 per tonne yeterday on active buying, dealers said.

 

"There was good demand from traders after prices went as low as US$22,800 yesterday," a dealer said.

 

On the LME, the tin price was unchanged at US$22,850 per tonne.

 

On the local front, offers stood at 40 tonnes with bids at 80 tonnes with Japanese, European and local traders accounting for yesterday trading.

 

Turnover was higher at 45 tonnes from the 40 tonnes on Monday.

The premium between the KLTM and LME widened to US$485 per tonne against US$335 per tonne on Monday. — Agencies

 

 

BURSA MALASIA FKLI FUTURES TRADING ON 60 MINUTE CHART ON ANDREW PITCHFORK REVIEW FOR 24 AUGs 2011

Follow the trend and get ready to short at 1506 above ^_^

PLS Note that the FKLI has breakout from Major Andrew

1^st resistance  is at 1506… can take que to short above it and while b4 that just ride the bulls )

2nd  resistance is at 1526

 

 

 

 

 

“ Sell At Resistance “

 

 

BURSA MALASIA FKLI FUTURES TRADING ON 60 MINUTE CHART ON ANDREW PITCHFORK REVIEW FOR 23 AUG 2011

KL bourse firmer on bargain-hunting

 

Kuala Lumpur: Shares on Bursa Malaysia ended firmer yesterday on bargain-hunting activities, with sentiments largely lifted by better-than-expected manufacturing activity data from China, which averted fears of a hard landing of the world's second largest economy.

 

 

The FTSE Bursa Malaysia KLCI rose 10.21 points or 0.69 per cent to 1,482.37. It had touched an intra-morning low of 1,469.66.

 

The outlook remained volatile given the persistent worries over a global recession and ongoing eurozone jitters, Hong Leong Investment Bank's head of research Low Yee Huap said.

 

There is a loss of confidence in the policymakers in the US where fiscal stimulus has been exhausted and monetary policy rates already at zero.

 

"As such, we expect investors to stay defensive or sidelined," he said.

 

Alternatively, he said, risk takers could adopt a short-term trading oriented approach to buy on sharp falls, and sell into any rebound.

 

"Investors remain worried about the outlook, especially with the local bourse going into a short trading week next week," said an analyst.

 

Bursa Malaysia's Finance Index jumped 87.52 points to 14,109.98, the Plantation Index rose 127.15 points to 7,289.94 and the Industrial Index improved 17.49 points to 2,751.46.

 

The FBM Emas Index climbed 64.14 points 10,138.11, the FBM70 Index was up 51.41 points to 11,052.22 and the FBM ACE added 13.7 points to 3,797.74.

 

Advancers outnumbered decliners by 488 to 274 while 256 counters were unchanged and 465 others untraded.

 

A total of 875.521 million shares worth RM1.762 billion were traded, up from 853.772 million shares valued at RM1.672 billion traded on Monday.

 

Sunway Bhd made a dismal performance on its debut, leading the top losers with its price dipping by 31 sen or 11.07 per cent to RM2.49. However, its warrants rose 30.5 sen to 31 sen and listed as top gainer.

 

Among the active counters, Malayan United Industries edged up 1 sen to 21 sen, Axiata was flat at RM4.98 and Astral added 4 sen to 19 sen.

 

As for heavyweights, Maybank climbed 6 sen to RM8.70, CIMB perked 2 sen to RM7.79, Sime Darby slipped 1 sen to RM8.80 and Tenaga lost 6 sen to RM5.43.

 

On Bursa Malaysia Derivatives, the FBM KLCI futures ended higher, backed by a firmer cash market.

 

August 2011 gained 9.5 points to 1,486.5, September 2011 jumped 10.5 points to 1,483, December 2011 increased 12 points to 1,480 and March 2012 improved 11.5 points to 1,478.5. - Bernama

 

DJIA Commentary : Optimism About Fed Action Drives Stocks Sharply Higher

Stocks showed a substantial upward move over the course of the trading day on Tuesday, adding to the modest gains posted in the previous session. The markets benefited from continued optimism that the Federal Reserve will take further steps to stimulate the economy.

 

The major averages saw further upside going into the close of trading, ending the session at their best levels of the day. The Dow jumped 322.11 points or 3 percent to 11,176.76, the Nasdaq surged up 100.68 points or 4.3 percent to 2,446.06 and the S&P 500 soared 38.53 points or 3.4 percent to 1,162.35.

 

While stocks saw some early strength on the heels of upbeat economic data from overseas, buying interest picked up in mid-morning trading following the release of a report from the Commerce Department showing an unexpected drop in U.S. new home sales.

 

The report added to recent concerns about the beleaguered housing marked but also added to speculation that the Fed may take additional action to boost the sluggish economy.

 

Fed officials will meet in Jackson Hole, Wyoming, this week for an annual conference, with Chairman Ben Bernanke due to deliver a closely watched speech on Friday.

 

Peter Boockvar, equity strategist at Miller Tabak, said, "With Bernanke speaking on Friday, there will be a lot of noise in the trading ahead of it as the 'do something,' 'do nothing' opinions square off."

 

The considerable strength on Wall Street may also have been due in part to a report from the Federal Deposit Insurance Corporation showing the first quarterly drop in the number of troubled banks in almost five years.

 

The FDIC said that the number of institutions on its "Problem List" fell to 865 in the second quarter from 888 in the first quarter. The decrease in the number of "problem" institutions in the second quarter marked the first drop since the third quarter of 2006.

 

Meanwhile, traders largely shrugged off news of a 5.9 magnitude earthquake in Virginia that shook much of Washington, D.C. and caused tremors as far away as New York City.

 

Stocks briefly moved to the downside on the heels of the news of the quake but moved back to the upside shortly afterward amid early indications that it did not cause major damage or injuries.

 

Sector News

 

Healthcare provider stocks showed a substantial move to the upside over the course of the trading day, driving the Morgan Stanley Healthcare Provider Index up by 6.6 percent. PharMerica (PMC) led the sector higher on news that Omnicare (OCR) has offered to acquire the pharmacy services provider.

 

PharMerica jumped by 27.1 percent after Omnicare offer to acquire the company for $15 per share in cash. The offer represented a 37 percent premium to PharMerica's closing price on Monday. However, PharMerica's board determined that the offer is not in the best interest of the company or its stockholders.

 

Considerable strength was also visible among semiconductor stocks, as reflected by the 5.2 percent gain posted by the Philadelphia Semiconductor Index. Nvidia (NVDA) turned one of the sector's best performances after Wells Fargo upgraded the graphics chip maker to Outperform.

 

Health insurance stocks also moved sharply higher on the day, with the Morgan Stanley Healthcare Payor Index surging up by 5 percent. Internet, oil service, and networking stocks also posted notable gains, moving higher along with most of the major sectors.

 

Meanwhile, gold stocks bucked the uptrend by the broader markets amid a pullback by the price of the precious metal. With gold for December delivery falling $30.60 to $1,861.30 an ounce, the NYSE Arca Gold Bugs Index dropped by 3.6 percent.

 

Other Markets

 

In overseas trading, stock markets across the Asia-Pacific region showed notable moves to the upside during trading on Tuesday. Japan's Nikkei 225 Index advanced by 1.2 percent, while Hong Kong's Hang Seng Index surged up by 2 percent.

 

The major European markets also ended the day firmly positive after seeing some late-day volatility. While the U.K.'s FTSE 100 Index rose by 0.7 percent, the French CAC 40 Index and the German DAX Index both climbed by 1.1 percent.

 

In the bond market, treasuries saw considerable volatility over the course of the day, eventually closing notably lower. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 4.9 basis points to 2.137 percent.

 

Looking Ahead

 

On Wednesday, traders are likely to keep an eye on a Commerce Department report on durable goods orders in the month of July. Economists expect the report to show that orders rose by 2.0 percent.

(FCPO) Malaysia Futures Crude Palm Oil Review For 24082011

Crude palm oil moves up in futures trade on global cues

 

Crude palm oil moved up by Rs 3.20 to Rs 491.50 per 10 kg in futures trading today as speculators enlarged their positions amid a firming global trend.

 

The trading sentiment was bolstered as palm oil advanced in global markets.

 

Meanwhile, November contract gained 0.9% to $1,025 per metric tonne on the Malaysia Derivatives Exchange.

 

At the Multi Commodity Exchange, November contract moved up by Rs 3.20, or 0.66%, to Rs 491.50 per 10 kg with a business turnover of 27 lots.

 

August crude palm oil gained Rs 2, or 0.40%, to Rs 496.80 per 10 kg in 12 lots.

 

Market analysts said apart from a firming trend in overseas markets, a pick-up in spot market demand supported by the ongoing festive season pushed up crude palm oil futures prices.

 

 

 

CPO Variance :

 

Soyabean oil                                     0.5564

Metric Ton                                          2,204.62

CPO                                                       3068

USD MYR Exchange Rate              2.966

               

CPO Variance                                   192.26

               

< 84                        SELL

85 TO 94               NEUTRAL

> 95                        BUY

 

Reference On Soy Bean Oil Price

 

BEARISH THREE OUTSIDE DOWN

 

Type:     Reversal

Relevance:         Bearish

Prior Trend:        Bullish

Reliability:          High

Confirmation:   Suggested

No. of Sticks:     3

 

Definition:

 

The Bearish Three Outside Down Pattern is another name for the Confirmed Bearish Engulfing Pattern. The third day confirms the bearish trend reversal.

 

Recognition Criteria:

 

1. Market is characterized by uptrend.

2. We see a Bearish Engulfing Pattern in the first two days.

3. Then we see a black candlestick on the third day with a lower close than the second day.

 

Explanation:

The first two days forms a Bearish Engulfing Pattern, and the third day confirms the reversal suggested by the Bearish Engulfing Pattern since it is a black candlestick closing with a new low for the three days.

 

Important Factors:

 

The reliability of this pattern is very high, but still a confirmation in the form of a black candlestick with a lower close or a gap-down is suggested.