ZLBT Chats

Tuesday, February 2, 2010

CPO Biz At 12.30pm And ZL's Positions and 6.00pm closing update positions

My CPO positions attained today >>> 2455/2451/2444/2442/2442 = 12234 / 5 = 2446.8 or 2447 average. Pending stoploss at 2430.
Crude Oil Pares Early Gains; Likely To Remain Steady
Crude pares some of the gains made early in Asian trading hours, failing to stay long above $75/bbl. Disappointed investors closed longs as "market sentiment turned a little weak."

BMD CPO futures down in thin trade; market awaiting buyers
Benchmark April CPO contract down MYR7 at MYR2,438/ton. "Chinese buyers are already well-stocked up for Chinese New Year and buying activity today is pretty sluggish after the long weekend.

This trade will be updated HERE when positions closed today or HOLD overnight


ZL's CPO positions updates & commentaries cum explaination attn >>> Najib

BUY ave 2446.8
SELL ave 2460.4
End results >>> 2460.4 - 2446.8 = 13.6 ticks X 5 = 68 ticks total

The IN & OUT numbers are marked in above & below CPO 15 mins Chart and self explainatory.
Why ZL did not surrender at exactly 2430 TS as stated right at the top of this article >>> The words PENDING STOPLOSS means 2430 is unfixed & unconfirmed. It was a number where one can only afford to lose so much and ZL can afford that and a little bit more but definitely not 2400 TS.

Here are my given answers >>> acceptable or not, ZL leave that to your discreetion >>>
CPO closed 2438 at MP 12.30pm and reopened 2432 with a volume spike HIGHER than the past 1.5 hour b4 the break & 2427 was hit in less than 2.5 MINUTES or 2 min: 24 seconds to be EXACT.
Since I'm already "caught" with 17 ticks per lot losses >>> what the heck should I force sell myself which I optimistically think they are doing. Those look more like margin calls than self voluntary cutloss to ZL >>>
Therefore ZL declared openly when CPO was 2430 (b4 it hit 2427) >>> HOLD for a little longer in open ChatBox read by all those who login then. No excuses other than the truth .
KY knows, IDM read and most regular chatters would hv read my TS cancellation BEFORE 2427 came around . You can say ZL decided to "lawan" in under 2 minutes of 3.00pm reopening.

Technically >>> this is what ZL spotted other than just the PRICE & VOLUME
1) RSI >>> The Relative Strength Index dipped slightly from the firesale but still hovers at 44.4 at 3.02pm >>> NEUTRAL zone. My experiences (& gut instincts) said HOLD ZL HOLD
2) The LOWER BOLLINGER was still CONTRACTING not EXPANDING >>> another clue some bottom pickings going on.
Had the lower BB WIDEN then, reasons to cutloss increases. What the 15 mins BB did the next 1 hour concurred CPO bargain hunters on the move ....
3) Fast Stoch showing 18.9 (14-days) & 23.7 (3-days) which can be considered closest to OVERSOLD region. To some TA geeks Stoch at level 20 +/- is bearish but ZL happens to be an optimist or I rather chose to be one. Can you blame me?
This oscillator convictions were more on BUY than SELL

Today is a battle hardened day and the profits made were not without a tough wrestling match with the bears.
Hopefully ZL's explaination is resonable enough to be accepted by many especially commenter NAJIB.
Note : NAJIB made a comment under this article b4 CPO closed at 6.00pm.



  1. Hi,Bro, your stoploss should be hit at this afternoon ! mkt looks like in sideway with downward bias...


  2. Hi Najib,

    ZL thank you in advance for your "silent reader" comments and will gladly update Najib WHY ZL did not "throw" as drafted in above article where Trailing Stop (TS) was mentioned at 2430 SURRENDER.

    Too long to explain in comment box >>> Pls refer to UPDATES in the same article >>> Latest CPO 15 mins Chart added for your viewing pleasure. The reasons will be stated in additional part of same article above.

    Once again TQ & Welcome to BT