Golden Agriculture: CPO broke double top.

Crude palm oil (CPO) formed a 15 months high yesterday (RM2,730), breaking the double top formation (RM2,710) mentioned before. Fundamentally, this is very good news for Golden Agriculture.

Golden Agriculture started at 61c today before closing at 60c after touching a low of 59c.  Volume was quite low. The sell down lacks conviction and this is good news for the bulls. The MFI has formed a higher high but it might decline to retest 50% which is also where we find a longer term uptrend support. 

In case of a pull back, expect immediate support at 58c, this is also where the rising 20dMA would be in the next few sessions.  58c could be a good entry price, especially if we notice the uptrend starting 30 June approximates the 20dMA. 

Fundamentally, strong CPO prices would underpin performance of Golden Agriculture.  Technically, the uptrend is obvious and it should be safer to buy at supports in an uptrend.

Retirement planning (How much do we need or what do we need?).

Recently, I was asked a question on how much do we need for retirement?

It is one of those questions which seem easy to answer but, if we spend more time thinking about it, we realise it is actually not that easy.





I talked about needs and wants in another post earlier.  

What are needs and what are wants? 

See:
Money management: Needs and wants.

There are certain basic needs in life but there are many wants which have become needs in modern society. 

Therefore, how much do we need for retirement could depend on how many wants we have in life, wants which have been internalised as needs over the years.

An important question to ask is, then, what do we need for retirement? 

This is a qualitative question and needs to be answered.  Otherwise, we cannot start estimating how much do we need for retirement.  

So, the person who put the question to me was left scratching his head as I gave him not an answer but another question.






Very often, people wonder how much they need for retirement, wonder if a million dollars is enough or maybe two million dollars.  

They should think about what they really need in life and what would they be contented with.  

Perhaps, they should not keep chasing after that first million.  

Perhaps, they should not keep thinking about how much do they need.  

Perhaps, they should think of what they really need instead.

Planning for retirement? 
You might want to read these:
1. Inflation adjusted retirement plan.
2. POSB ManuRegular Payout better?
3. Selecting a good financial adviser.
4. OCBC BCIP.
5. POSB INVEST SAVER.
6. A cornerstone in retirement funding.
7. Wealthy nation cannot afford to retire?