FKLI - Intraday Money Making Opportunity today

There was a money making money opportunity today if you know how to use the Daily Pivot Trading System.

Based on this system, the Short signal is at 1143 with a profit target of 1131 points. Stop loss was at 1145.50. At 8.55 am, the short was triggered and less than an half an hour later, at 9.20, the target achieved. A profit of 12 points (or RM600) made in 20 minutes with just one contract traded.

If you would like to know how to do this, learn it from this workshop Opportunities to Profit Everyday in FUTURES Regardless of Market Direction by Benny Lee on 07/08/2008 (K. Lumpur), 14/08/2008 (P. Jaya) and 23-24/08/2008 (K. Lumpur)

5-min FKLI August contract chart as at 12.05pm, 5 August 2008, using NextVIEW Advisor.

Jim Rogers in Bangkok, Thailand

Jim Rogers needs no introduction to the financial markets. He is one of the "best thinkers" of the financial markets.

James B. Rogers, Jr. (born October 19, 1942) is an American investor and financial commentator. He is co-founder, along with George Soros, of the Quantum Fund, and is a college professor, author, world traveler, economic commentator, and creator of the Rogers International Commodities Index (RICI). Read more about him on wikipedia.

Jim Rogers in Bangkok, Thailand

The Agricultural Futures Exchange of Thailand (AFET) is bringing this legendary investor/trader to bangkok on the 21st of August 2008. He will be presenting in an Executive Dinner talk with the title "Commodities: The Thailand opportunity " from 6:00 pm to 9:30 pm.

So, if want to know what this financial "oracle" has in store in commodities for Thailand, make sure not to miss this one-of-a-kind opportunity to attend this talk. Tickets and more information are available HERE.

Here are some recent thoughts from Jim Rogers:

About Gloomy Markets
Here's a quote from Jim Rogers in a recent interview with ResourceInvestor. "What’s gloomy? Hold on. What’s gloomy? That was gloomy for Wall Street. I told you if you’re a farmer, you’re about to get rich..." Read more here.

What are his investments now?
Short on banks, investing in airlines. Read his recent interview here on CNBC.



On Fed's move, credit and mortgage crisis, inflation , the finance industry and Frannie May/Freddie Mac.

The goverment is forming a disaster for America, with mistakes after mistakes... Read another recent interview here on Bloomberg

Catch Jim Rogers in Bangkok on 21 August 2008. CLICK HERE.

A Lesson in Trading Psychology - Dr. Brett Steenbarger

Back in 2004, I joined Kingstree Trading, LLC, a proprietary trading firm in Chicago. There, I had the good fortune to get to know--and observe--many successful traders at work.

One lesson particularly stands out in my mind. A trader saw buying come into the market, and he quickly jumped on board. He saw that the odds of taking out a recent high were good, given the size of the buying. To his surprise, however, the trade stalled out before the target and reversed. He quickly exited with a tick loss.

He turned to me and said, "I just paid for information."

When the market bounced higher a few ticks several minutes later, the volume was weak. No big players were taking the long side. He aggressively sold and quickly made a couple of points.
He placed a good trade, and it didn't work out. He didn't view that as a threat, as a loss, or as a failure.

He viewed it as information. The market was telling him that we weren't going to take out the recent high.

How he entered the first trade and exited it and how he used the loss to prepare himself for the winning trade: *There* was a clinic in trading psychology.

If your setups are valid, there are only two kinds of trades: Those that make you money and those that give you information.

* This article is re-published with permission from Dr. Brett Steenbarger.

Brett N. Steenbarger, Ph.D. is Associate Clinical Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, NY and author of The Psychology of Trading (Wiley, 2003). As Director of Trader Development for Kingstree Trading, LLC in Chicago, he has mentored numerous professional traders and coordinated a training program for traders. An active trader of the stock indexes, Brett utilizes statistically-based pattern recognition for intraday trading. Brett does not offer commercial services to traders, but maintains an archive of articles and a trading blog at www.brettsteenbarger.com.

Thailand SETI: Breather for the Bears

Thailand's economy has been taken slowed down because of the current political situation, the government's lack of effort in handling inflation crisis, and the escalating problems in the south. These factors have led the bears to be in control in the financial markets.

The benchmark Stock Exchange of Thailand Index (SETI) fell to 664 points just a few weeks ago and two months prior to that low the SETI was at 880 points. The SETI fell 216 points 0r 24.5% in just 2 months and this sent negative vibes to the investment community who now fear whether the bears would bring the market down further.

The SETI is currently at 678.66 points (as of Friday, 1st if August). After hitting the low of about 664 points few weeks ago, the SETI made a rebound, but only to find the previous support level of 700 points now becomes the resistance.

The current trend is extremely bearish. However, the support at 660 points may provide some breather for bears and opportunity for the bulls to gain foothold and fight back. It is still early to identify whether this support level is strong or weak. This depends on the SETI performance this week. We'll see the bulls fighting back if the SETI is able to break the 700 points resistance level. Failing to do so would cause the SETI to slip further to the main support level of 600 points.

Commentary and analysis by Benny Lee

CPO CyclePoint Low is in place

Brent Penfold's CyclePoint is triggered on the Crude Palm Oil Futures 3rd Month contract on the Last Friday 1st of August 2008. Below is a chart from CyclePoint website:


1 August 2008: PALM OIL (FCPO) - A CyclePoint low is in place.

For those who do not know Brent Penfold, click here for his profile. More information about CyclePoint, click here.


BRENT's ASIA TOUR

Brent will be in Asia end of this week to promote his New book called "Back to Basics Trading" and a series of extensive trading workshops in Hong Kong (6th August), Kuala Lumpur, Malaysia (9th August), Singapore (11th August) and Bangkok, Thailand (27 August). Click on the below country for details:

1. Hong Kong (6th August)
2. Malaysia (9th August)
3. Singapore (11th August)
4. Thailand (27 August)

Financial Market Related News around the Region

SINGAPORE

1) Recent media reports predicting that private home rents will take a steep dive next year are certainly alarming. But a closer look at the numbers suggests that they may not take such a beating after all. read more here.

MALAYSIA

1) 'We will announce the new growth target (for this year) officially on August 29 in the presentation of the Budget 2009,' Mr Nor Mohamed said. 'Growth will be positive and significantly so.' Read more here.

2) THE next three to four weeks would be crucial for the Government before it can decide on further measures to cushion the impact of the volatile crude oil price. Read more here.

HONG KONG

1) HKEx chief executive Paul Chow Man-yiu said yesterday the short-selling tick rule would be temporarily reinstated for five consecutive trading days if the stock market drops 5 percent, as required by the Securities and Futures Commission. He said the stock exchange has to further consult the market for the tick rule's relaxation as it involves potential technical problems. Read more here.

THAILAND:

1) Thailand's inflation accelerated at the fastest pace in a decade in July, gaining 9.2% from the same month a year ago due to surging oil and food prices. Read more here.

2) The ministry today will cut the subsidy of 40 satang a litre that had been absorbed by the state Oil Fund since February, and impose a levy of 10 satang to wipe out the benefit if the retail price reduction. Read more here.

VIETNAM

1) Joint venture or wholly-foreign invested financial companies must have total assets worth more than US$10 billion by the end of the year before applying for licensure. Read more here.

2) It will take businesses a maximum of just five days to receive business registration certificates, according to a new inter-ministry circular released on Tuesday. It was ten days previously. Read more here.

3) A General Statistics Office report said electronic and computer-component exports reached US$1.44 billion in the first seven months of the year, a year-on-year increase of 29 per cent. Read more here.

4) Accounting and consulting firm Grant Thornton Viet Nam’s latest survey results on Viet Nam’s hotels show increases in average room rates and number of rooms. Read more here.