Monday, November 23, 2009

MarketWrap : not much.. negativity remains...

Negative tone remains despite regional upbeat tone. Upside lack on weak fbmklci. fbmkli weak in PM as commodities stocks retreat after a sluggish AM session.

Quiet, about 800 lots traded in PM session ( Nov contract, outright)

70-75 stay out. It looks like a breakout play, like buy above 75. Trading sell if 70 breaks or if fbmkli dips below 70. Cannot aim far this week, target is seen limited within 60-85, either direction still a 50:50

Position buystop is lowered again to 77 from 80 on closing basis.

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