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

Wednesday, September 9, 2009

FKLI to turn to the bears


15 minute chart

Well, as seen in the CI today, it did not manage to sustain above 1200 and it dropped to a 1195.73. It seems that there is nothing to push the FKLI up any further. MACD shows signals of early shorting at 1203. Using 10, and 20 MA, there was another signal after that which signals that the market is going to drop. Regional markets by far do not have any "good news" to lead/drive the FKLI up. Hence, I there will be a slight correction. Bolinger band shows that it will trade sideways in a range by it's band shrinking smaller day by day.

My Opinion: Find a position to short. Preferably somewhere above 1200. For those who had long positions, it's time for you to profit take and exit the market.

**Chart from OSK's 188OMS
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