KLCI Weekly In Consolidation Zone

(2012-01-26) KLCI is placing at consolidation zone (refer to chart) based on weekly chart. Every thing seems at the bullish side despite almost of the analyst are bearish toward the financial market all over the world.
I am kind of neutral. The market might turn to be a big surprise to the upside.

Daily Chart Update

It looks like FCPO April 2012 Future Contract is heading no way. It could go either way. A break out with volume is important to decide on the direction; bullish or bearish.

Gossip About FCPO

FCPO closed at 3164 with a high of 3173 which is near recent low of 3176 (refer to chart). It looks like the price will rest for now.

CPO Hit Support - Potential Rebound

FCPO of April 2012 Future Contract gaped down this morning and hit the low of 3099 which is very near the support 3087 (the earlier day high - refer to chart).
With the formation of white hammer, there is high chance that the market will rebound or at least slow down the plunge.

Potential Sell Down - Daily Chart Updates

CPO Future is down now. The support seems at 3139. The picture tells a thousand words.

Stop Loss Reached At 3190

Date of entry: 6 Jan 2012
Late Report - Reverse Long At 3215
I reversed to long FCPO March 2012 when the price hit the high of 3215 for one contract. With Bean Oil Future down on Friday, my position will suffered. I guess this is trading.

Date of exit: 9 Jan 2012
Stop Loss Reached At 3190
The stop loss was hit at 3190 with a loss of 27 points (2 points added for commissions).
The Stop Loss had to be placed even it might seemed wrong sometimes; 'touch and go'.

The Loss: RM625 (25points x RM25 x 1contract = RM625)

Exited Trade At 3200

Date of entry: 4 Jan 0212
Short CPO March 2012 - Potential Correction
I shorted FCPO March 2012 Future Contract at 3217 for 1 contract. The price has been up and all most reached previous high. The price is also in previous consolidation.
Date of exit: 6 Jan 2012
Exit Trade At 3200
I longed to exit at 3200 with a profit of 15 points with 2 points commissions added.

The Profit: RM 375 (15points x RM25 x 1contract = RM 375

My Negative Return Year 2011

The numbers said it all.

FKLI
My initial amount of my account for FKLI on 1 Jan 2011 was RM 17,675
and my balance as at 31 Dec 2011 was RM 13,425
with a loss of RM 4,250;
a 24.05% draw down.

FCPO
The initial amount of my account for CPO on 1 Jan 2011 was RM 17,675 (I split them in to two from RM 35,350).
My balance draw down to RM 13,200
with a loss of RM 4,475;
also a negative return of 25.53%.

The details of my account is at My Future Trading Account Records 2011

KLCI - 3rd Bullish Candle In A Row

Kuala Lumpur composite index closed at 1530.73 with a little up of 11.82 points against last year 2010 KLCI which was closed at 1518.91. It was a roller coaster year for 2011. All tension was built up by two big brothers; US and Europe.

Week to week, KLCI had been up for 3rd week forming three white bullish candles in a row. There is high chance that the market will correct at least for one or two candle then decides the direction later.

I would wait for the opportunity to short FKLI (Kuala Lumpur Future Index) based in daily chart.