Friday, April 02, 2010

Fkli wrap...maintaining bullish stance..40-80 ?




Same factors extend mkt run. CIMB/plantation stocks on the local front, China and Japan +0.3%. DJ futs off low at -3. Fbm matches the longest winning streak hit in Jan07, 9 days. But value pale in comparison. Previous winning streak, Jan07 and Feb07, accumulated about 80p each. This time, 42p.

Generally, a quiet day, most actions were confined to AM session, PM is for drinking, mah-jong etc.

While concern over pullback remains, mkt is technically bullish. Immediate support is raised from 20 to 36. Current momentum will last if 36 stays as support. Otherwise, a pullback is expected towards 20-25 band.


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