Much weaker than I expected. So, I am going to revise down my price target for exit.
1377-1385 area.

If the bulls can clear 1385, then I'll stay long.

DJ futures means little.. always watch the open and close.
Bulls were afraid during close yesterday.

The line in the sand for FBMKLCI is 1353. So, I'm putting my stop slightly right below there today.

Good evening folks,

Really nice close for KLCI today.

Looks like volume pick'ing up too.
So, I'm not going to do anything new, staying long and just letting this thing rip higher.

Guys,

I'm taking advantage of the pop today to sell.. if I don't get my price target, that's ok but I'm not holding through the weekend.

All my leading indicators went off bizarre way Thurs evening after US market closed. (it was weak up market despite Dow gain 143 pts - clearly window dressing). Therefore, I decided to cash out for the weekend after almost 90 pts gain from the lows of Monday. I'm about 10 pts short of my exit price but better to lock in profits than to see them evaporates with unexpected event on Monday. The biggest uncertainty is about to unfold from China.

I certainly like to see the bulls to take it higher 'coz there's not much money to be made from here at this level for bears.

At US market (much higher volatility), I'm all hedge with puts protection for my remaining longs.

Good luck to all.. I'm taking the family to a nice meal.

This post has been edited by danmooncake: Sep 30 2011, 07:25 PM

LOL! QE3 is already DOA.

Wow! You're even more bearish than me..

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Added on October 1, 2011, 11:30 amDon't be surprise.. if US market rallies on Mon or Tues.

This post has been edited by danmooncake: Oct 1 2011, 11:30 AM

Where are the bulls army?

5th wave down... time to add a little more shorts.

Too much negativity in market.. so I'm going long here.

Slow tepid growth.. not recession yet. So, this will entice the bulls to come back in.
We need to Greece to get over this default. Go ahead, make it so.
Then the market will take one direction.

Now, we're still in a limbo.

DJ still in trading range. Not in bear market yet but I like this range (SP500 1101-1220).

Buy low of the range, sell high of the range until it breaks.
Now it is buy time as long as the Aug 9th low doesn't break.

No worry.. I'm buying into this fear with well define risk mgmt tools.
US market.. plenty of macro data points to trade.

But, KL market.. Difficult to gauge sometimes.

cwhong:
Wondering if you can post the same kind of data points for KLSE? I'm looking for more local macro data.

This post has been edited by danmooncake: Oct 4 2011, 12:36 AM

China isn't trading on fundamentals now... a lot of fear.
Even tho the macro econ shows growth, their market is trading as if there's negative growth.

US SP500 just broke the Aug 9th low,.. 1099.

It will be interesting to see how KLCI reacts later.
1250 indeed looks like nice number.

Yup! Bears army are ready to pillage, plunder, and launch another major assault.

Yes... definitely. There's always snap back rally. I think I'm going to look for possible capitulation this week.
Greece must default suddenly overnight, it will take the Dow to 10000 or -500 pts.. then bam, we rally up!

Like to see the same thing for KLSE.. but it's been dying a slow death. That's why sometimes I find KLCI difficult to trade.

Wait.. once it breaches below 1353.. you may see it drop faster.
But, now quite a bit of support at 1355-1360 area.

KLCI - takes a while to do swing trade.