Futures

A contractual agreement, generally made on the trading floor of a futures exchange, to buy or sell a particular commodity or financial instrument at a pre-determined price in the future. Futures contracts detail the quality and quantity of the underlying asset; they are standardized to facilitate trading on a futures exchange. Some futures contracts may call for physical delivery of the asset, while others are settled in cash.

** Source from: www.investopedia.com

Thursday, September 10, 2009

Super volatile day for FCPO


Daily 1-year


15 Minute Chart


Like the title says, it's been a super volatile day for the FCPO as it was suppose to be speculated to bull as the market started off with a day high to 2240. Could be due to the extensive supply in the market which brought it down to 2135 later on in the day before it rose back up to 2184 where it closed at. Just 5 points above yesterday's closing. However, the bears still are in position for the FCPO as it closed below 2198.

My Opinion: Just like yesterday, hold short and put a stop loss at either 2240 or 2280.

**Chart from OSK's 188OMS
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