Saturday, May 25, 2013

Daily CPO Near Correction & Weekly Remained Bullish

I started this weekly watch series on CPO to at least get some idea of CPO current situation daily & weekly.

Daily Chart : CPO Daily Correction Near 
CPO has been up in May 2013 ; from the lowest point of 2230 registered on 6 May 2013 all the way to the high of 2375 on 24 May 2013 (a 145 points range).
With the price reaching the upper downtrend line and the upper line of 60 moving average, the minor correction is very near. Please refer to the daily chart.


Weekly Chart : MACD Is Making Higher Low 
Weekly CPO is still doing fine consider the MACD is still moving up and making higher low.


Friday, May 24, 2013

Beanoil Still In Sideways

It looks like bean oil future is still in sideways mode. The long tail candle of Yesterday further confirmed the sideways. We have to wait for a breakout either way to establish a new trend ; ups or downs.

Thursday, May 23, 2013

Short To Take Profit


Date of exit : 23 May 2013
Title : Short To Take Profit 
I exited the trade to lock profit at 2369 for 50 points gain. The market has been slow, 50 points is good enough. 

The Profit : RM1250 (50points x RM25 x 1contract = RM1250) 


The balance is now RM 28,300 (RM 27,050 +  RM 1250 = RM 28300)
(The details of my account is at My Future Trading Account Records 2012 )

Date of entry : 16 May 2013

Title : Reversed To Long As Usual
I also long CPO Aug 2013 at 2317 for 1 contract. 

Thursday, May 16, 2013

Short Position Kicked Out


Date of exit : 16 May 2013
Title : Short Position Kicked Out
My position was stopped out at 2317 with a loss of 26 points (2 points for commission). 

The Loss : RM 650 (26points x  RM25 x 1contract = RM 650) 

The balance is now RM 27,050 (RM 27,700 - RM 650 = RM 27,050)
(The details of my account is at My Future Trading Account Records 2012 )



Date of entry : 14 May 2013
Title : Shorted Aug 2013 Future Contract Too
I reversed to short CPO Aug 2013 Future Contract too at 2293 for 1 contract. I placed the order earlier. This could simply a correction and it does not look like a major one. 

Tuesday, May 14, 2013

Short To Take Profit


Date of exit : 14 May 2013
Title : Short To Take Profit
I exited my trade at 2293 with a gain of 16 points after 2 points deducted for commission. 

The Profit : RM400 (16points x RM25 x 1contract = RM400) 

The balance is now RM 27,700 (RM 27,300 + RM 400 = RM 27,700)
(The details of my account is at My Future Trading Account Records 2012 )


Date of entry : 8 May 2013
Title : Long CPO At Early Open
I initiated long position of July 2013 CPO Future Contract this morning at 2275 for 1 contract. The price has been down for many days and there is high chance for rebound.