9 October 2014

HSI Futures

U.S. stocks soared on Wednesday, with major indexes posting their biggest one-day jumps of 2014 after the Federal Reserve reassured investors that its first interest rate hike would not come until it deemed the economy could withstand it.

Hong Kong's benchmark shares fell 0.7 percent on Wednesday, following overseas markets lower after the International Monetary Fund cut its global economic growth forecast. Korea markets are shut for Hangul Day celebrations today while Bank of England rate decision due tonight should be keeping rate unchanged at 0.5%. 

Holding a long
Plan A : 23106-23543, do nothing
Plan B : Below 23106, cut
Plan C : Above 23543, consider taking profits if it gaps up and retrace
Plan D : Consider intraday sell if market fails to break above 23395
Plan E : Cut above 23543


FKLI

Market slumped to almost day's low level for a close yesterday. Technical rebound could kicks in today after overnight Dow gained 274-points together with firmer RM at 3.25 versus USD. Market will have to stand firm above 1829 today if it were to have any chance of reversing from its current bearish mode.

Holding short
Plan A : 1815-1829, do nothing
Plan B : Below 1815, consider taking profits
Plan C : Above 1829, buy back and consider turning long
Plan D : Cut below 1822


FCPO

FCPO consolidated in two consecutive days with average range of 30 points from the high and low prices. Dalian and soybean oil markets are quite neutral today, however, strengthening of the Ringgit at RM3.24 may open some leeway to the downturn. Overall view of the chart suggested possibility that the market may either consolidate or move downside.

Plan A : Overnight seller hold on to position. Resistance is 2212 and target is 2120.
Plan B : Intraday investor sell at rebound around 2200 level. Resistance is 2209 and target is 2143.
Plan C : Buyer stay out of market.
Plan D : Above 2220, do nothing.
Plan E : Below 2110, do nothing.    
  

*Disclaimer: This information is intended to assist professional investors. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment