Saturday, June 29, 2013

June 28 - FKLI, FCPO & GOLD (Closing 1H13)

Hi All.

Internet connection went down for the whole evening....argh....
Way behind schedule for other tasks, so I only managed to analyze FKLI in-detail.
My apologies for the recent lack in postings. :X...oops....looks like I need to restructure my plans n schedule to better manage my time...hoho...:p

On FKLI, some massive window-dressing tool place over the past 3 trading days. So overdone, it exceed my initial estimate of touching a 1,760 high to close 1H13....
LOL...I admit I've underestimated the BIG Boys...Sorry Bosses! :D
Anyhow, I hope my readers have benefited from the rally, when I gave the heads-up on my June26 (Wednesday) 'Quickie on FKLI'.

For the weekend, & also to close the 1st Half of FY2013, I did a thorough research on the fundamental financial status of our market.
I'm not exactly an expert on Macroeconomics, lol, but I do know some relations between stocks, bonds & currencies markets....
Let's see what I get!! :)

FKLI - Closing 1H13 with a look into the Macros: KLCI-10Y MGS-MYR. (June 28, 2013)


On CPO, the fall accelerated in the past week, confirming a solid breakaway from the previous strong rally sentiment.

Immediate support comes in at 2,335, which has yet to be violated although price closed the week near low around 2,340. Shall the 2,335 support holds, I'll expect a bounce from that level, starting a corrective rally towards 2,350-60 | 2,400-20.

After this bounce end, I believe it will be time to revisit the dreaded 2,230 level, yet again. But this time around, it WILL NOT be a good battlefield for the bulls anymore. Having to fight for the same piece of land for the 5th time in a row, means only one thing, your opponents are growing stronger, while u stalled & get staled....Oopps! :D


Not too worry though, as I've got a GOLD chart from late Friday (June 28) evening, before it bounced from 1,200 support & closed high at 1,233.75 in a bullish candle.
Hence, overall analysis is firmly intact, as the bounce from 1,200 major support shall starts a correction to the upside, to ease the oversold condition since falling sharply from 1,600 level following a slew of GOLD-bearish news (bullish Non-Farm, bullish Housing data, Fed's confirming QE tapering...)
Talking about Non-Farm Payroll (NFP), the June'13 reading will be out in the coming Friday (July 05). A must-watch for GOLD traders, in fact, price may stall in tight range in anticipation of the data release next week.

GOLD - Nice Bounce from 1,200 Support!! (June 28)
For your weekend pleasure, I'd like to share a video with you, who is reading this post.
Get a quiet place, play the video, give it a long thought...*no matter which floor you're at...:)

A short 4-minute video (in Cantonese), a small story, but a real BIG inspiration!

I've just recently reached the 27th Floor, but I've probably left my bagpack on the 23rd Floor (when I graduated from uni....:p)
Luckily, I'm still not too far away, and I WILL turned, walk down 4 floors of stairs, & GET MY BAGPACK BACK so that I can travel with it on my way up again !! :)

On another note, I mentioned The Apprentice Asia Ep.5 has the teams trade CFD virtually. 
Still haven't saw any full-episode uploaded on YouTube. Did found this short clip though, if it means anything at all... 
(This Asia version of the Apprentice series really sucks....our Malaysian gal cant even speak English fluently...poof!...#_#)

Still, we...
Enjoy the weekend, free of haze !! 
Plan well & Happy Hunting for 2H13 !! :D

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