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guys, don't worry...CPO >3500. Today is just temporary weakness due to last Fri DJ sudden huge drop.
well..if this burger is really GOOD like investor38 has "propaganded"...hee...then i think no worries...it will be a problem when it is OTHERWISE :)
cheers !
:D
UNSUALLY QUIET FOR A WHILE. EXPECTING LAST MINUTE BUY UP.
I think it really depends on whether palm oil counters can beat the bearish trend this week. Any comments?
| FCPO | Apr 2008 | 3480.00 | 3500.00 | 3480.00 | 3500.00 | 3520.00 | 3500.00 | 3445.00 | 55.00 | 250 | 12 |
| FCPO | May 2008 | 3438.00 | 3531.00 | 3420.00 | 3532.00 | 3535.00 | 3530.00 | 3450.00 | 80.00 | 5142 | 704 |
| FCPO | Jun 2008 | 3453.00 | 3550.00 | 3428.00 | 3549.00 | 3550.00 | 3549.00 | 3454.00 | 95.00 | 11857 | 3,731 |
| FCPO | Jul 2008 | 3463.00 | 3559.00 | 3444.00 | 3558.00 | 3559.00 | 3559.00 | 3470.00 | 89.00 | 16914 | 1,470 |
| FCPO | Aug 2008 | 3520.00 | 3528.00 | 3515.00 | 3545.00 | 3570.00 | 3528.00 | 3475.00 | 53.00 | 929 | 209 |
CPO up , golden drop even more . no eye to see liao.
Of course, sentiment of overall market is bad. don't expect it to move up very much. Strong support at .88 to .89.
ahh...this is an OPEN mkt..dont be too sure on it i say...hee..look at it..still 90cts and going no where :P just trade with the trend will be a safer bet :D
cheers !
investor38 ( Date: 14-Apr-2008 15:35) Posted:
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Downside will be relatively limited if fundamentals intact. When sentiment turns, it is stocks with fundamental that will rebound quickly. that's my koyok opinion for this counter. No reason for this stock to drop 6 to 7% today. Market (STI) only drop less than 3%.
nickyng ( Date: 14-Apr-2008 13:32) Posted:
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Shortist buying back as expected. Expect volatility. Intention is to weed out weak holders. Don't sell unless you have to! Fundamentals still intact and good.
these days...fundamentals can be thrown out of the window for a while...go with the trend AND fundamentals...hee....can go EITHER OR.....play by ears :P
...loaded 5x COSCO at 2.80 this morning...hee....
cheers !
14.04.2008 - MIDDAY Closing Crude Palm Oil Quotes: Midday Closing CPO futures prices on Bursa Malaysia Derivatives in MYR/ton
Month Close Previous Change High Low
April 08 3445 3410 up 35 3445 3445
May '08 3449 3450 dn 1 3449 3420
June '08 3461 3454 up 7 3473 3428
July '08 3471 3470 up 1 3483 3444
CPO prices steady and positive. If remains like this this afternoon, expect palm oil counters to go back up since this morning selling down is without basis.
This is something that I have written before. Thought it worth repeating.
"As I have mentioned in my many previous postings, this is the usual modus operandi when they are accumulating the shares. The only safe way to counter this is to watch the fundamentals closely by doing our own research like looking out for up to date info regarding the palm oil industries. BB are not stupid. They will take advantage of any slightest negative news to try and selldown and collect more. My strategy for this type of high volume turn over stocks is to try not to buy when there is big run up. Many a times you are left holding them at a higher price when there is a downward correction. A good strategy is to look at the technical charts and accumulate at likely support levels/entry points when there is a downward correction. The critical factor to note is that as long as the fundamentals of the stock remains good, the prices will start to go up again. The biggest difficulty that I have always is overcoming the Greed factor and not knowing when to sell. "Buy when there is fear and sell when there is greed" - very easy to understand but very difficult to execute. Still learning after all these years. Some of my thoughts if anyone border to read."
Sure support one. Keep them for grandchildrens. Cheers.
Me too. actually picked up some at .90 and .905. Agree that fundamentals still good.
It's now at its resistance level at 0.905. This stock is clearly not for the fainted-hearted. Huge sell down mostly due to bearish market sentiments. Fundamentals of palm oil is still good, I am holding.
high volume trading ! want to hold or sell?
Currently trading at 0.905.
I agree with your chart and the immediate resistance level of .965. When this is bridged, uptrend will be intact but expect resistance at 1.05 and even stronger resistance at 1.20. Support will be at .89 to.90 and again at .84. The stock price is currently at a water-shed. To be safe, need to keep abreast with the fundamentals i.e. demand for palm oil as would be reflected in the CPO futures, politics in Indonesia, policy changes like taxes, etc all the time. This will ultimately decide on the direction of palm oil counters. I expect a lot of volatility and keeping abreast with fundamentals and studying the charts will help us to get in and out. If Jim Rogers is right about commodities, then the long term trend should be up.
Stupidbear ( Date: 12-Apr-2008 23:41) Posted:
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It's been long since I blogged due to some problem that I'm facing with my chat box. Ha!
Anyway, I've just posted a post just for you, investor38, for sharing. Any comments do drop them in the post, I dun really frequent this forum very often.
Refer to www.bear-analysis.blogspot.com
Hi Stupidbear, I am not familiar with fibbo. Maybe you would like to share it with us. Very much interested in hearing your views and learning from it. Thanks.
Strong CPO and crude oil prices quite strong, should provide support. "stronger ringgit has encouraged more players to take positions in palm oil as an investment" -instrument.http://www.palmoilhq.com/out/cpo-futures-firmer
STI will probably drop quite significantly on Monday because of DOW but palm oils stocks should be ok. That's my view.
Stupidbear ( Date: 12-Apr-2008 00:37) Posted:
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