Regional jumped almost 4% while DJ futs gains top 200p.Investors cheer as Washington releases strategy details for rescuing the banks. 1) A Public-Private partnership program to buy toxic asset. 2) Expansion of Term Asset-Backed Securities Loan Facility(TALF) to lower-rated mortgage-backed securities to encourage bank lending
Cash 878.3/+21p/2.5%.
FKLI extended its upside all the way above 880, setting a new trading band in the short term. ( white arrow) 900 seems reach-able, all it takes is cash breaks above 880.
Above 880, let it run. Selling is for intra-day strategy.
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