At a glance : product performance in May10..all red except ..

Europe set to finish May10 in red too, within a 3% to 8% range in May10. Near buddy DJ/NAQ/S&P lvls.

Sugar continues to give back 2009's extraordinary gains. Loner this year. Rubber still very strong despite a triple gains in 2009, like sugar.

Metals mostly still above water ytd. Gold already +10% ytd on safe haven buy, thanks to mini-crisis fear on Europe. But silver also +10% ???...benefing from brother and sister relationship ?

BMD : May10 vol data...fkli whopping 70% jump

Fkli goes wild in May as volatility increases amid Europe debts concerns. Mkt turnover rockets ,+70% from a month ago. At 240,184, above 200k for the first time since May09. Daily avg for May10 stands at 12, 009 lot, the highest since Mar08.

Fcpo takes a back seat. Vol drops -20% at 248, 503 lot. Trading activity basically heads for 1 1/2 year lows. Daily avg for May10 stands at 12, 425 lot, the lowest since Dec08.

BMD total vol in May10 at 494,581 lot. Steady near 500k mark, with fkli and fcpo offsetting each other and the net effect is +9% in May10. BMD turnover in the first 5-month is dw 14% from a year ago amid a slow start in the 1Q10 especially fkli. For the same period, fkli -18%, fcpo -11%.

Fkli wrap..quiet, -ve tone on SO and RM...

Fcpo retreats further in PM session probably due to kwailow selling amid a stronger RM. Earlier, also in –ve tone on SO -0.8% losses from the weekend. Very thinly traded mkt today.

While not much technically, still in and out of the mid range of 2400-2500 band, it looks like 2400 support is back in danger as likely to be tested again after almost two weeks break.

Below 2450 is –ve bias tone but can it forms a fresh short term dwtrend, 2300-2400 in the coming weeks, remains to be seen.

At a glance: Asian May's perfomance..bleeding

The biggest monthly losses in more a year for stock price in May. But fbm benefited from "less kwailow" exposure syndrome - the best of the worst, and manages to stay above water on ytd basis after today's gains. US, which closed for holidays today, ends May with a -8% losses ( ytd -2%) Whatsup with NK ?..strong yen ( appreciated near +3% mtm)

SH already dw 20% this year, the worst performing bourse as "bubble" and Europe debt issue cast dark clound in May.

Fkli wrap...ends May on strong note..fbm bargain?

Strong run after a long weekend, encouraged by DJ futs +50 and stronger ringgit or catching up with regional Fri’s gains. Nevert mind that regional off steam today, led by SH -2%, after Fri’s strong gains.

While a bounce is expected, the momentum and speed probably caught many by surprise. The mkt recovers around 50% from the recent plunge. However, it needs to regain 1300 before calling off its dwtrend outlook.

Above 1270 is +ve bias and points to a consolidation phase, 1270-1300, first rather than a “V” shape recovery.

Morning gossip...fkli firm 70-75 fcpo weak 2440-50

DJ -120 after Spain debt was downgraded. Eur0pe marginally lower, less than -0.5%. US closed for holiday Mon.

8.20 : DJ futs +35. Regional flat . Commodity mostly higher. CO +1.5%, higher in Asian hours. GOLD +0.2%

fkli : seen firmer on DJ futs gains but softer opening amid the wide premium. Above 70 is a buy mkt.

fcpo : SO -0.8%, no trading in Asian hours. 2450 support will be tested again. Below 2440 or 2436 is a sell mkt.

Fcpo wrap....opposite direction in PM...late selling again

Despite +ve environment, fcpo failed to sustain early gains but instead retreated in late hours again like in the past two days. Maybe stronger RM or weak export estimates due Mon or kwailow selling.

Mkt remains all the same, neutral range without a clear direction but dwward bias within a descending triangle. For the week, mkt is dw 34.

Fkli wrap ...bulls go wild....70 to 80 in last 20mins

Super bounce. Mkt erased around 2/3 of the week’s losses. For the week, fkli is down 0.5%, FBM -1%. Sellers took profit ahead of long holidays and mkt took a bet on rebound after DJ +160. Regional around +1%. Europe +1%

The mkt completed a 1/3 adjustment – already. And “parking” near 7SMA. Mkt is seen consolidating with upward-bias tone if > 63. But mkt remains dwtrend in the short term untill it cross above the dwtrend line. Target is 1290-1300 or 50% adjustment from recent recent selloff. Immediate support is raised to 70.

Morning gossip..fkli weak 45-50 fcpo strong 2470-90

DJ -70, under 10k in late selling despite strong economic data and Europe around +2%. The recent dw trend continues to trigger exit straegy.

8.20 : DJ futs +12. Regional -0.5%. Commodity mostly higher, CO +0.5% GOLD flat, above 1200.

fkli : lower tone but unlikely to see a selloff amid mixed exeternal. 45-50 for a start, -ve is udner 50, targeting 40-50 range.

fcpo : SO here for the rescue with +1.5%. Agriculturul rebound from oversold condition. Fcpo is seen back to resistance lvl for a range bound play again.

Fcpo wrap...late selling again...

Like Tue, late seling caused a big pullback but prices remains +ve on SO +0.5%. Generally a quiet with roll taking centre stage. Mkt firmer tone in early session was probably helped by short-roll activity. Crazy spread like nearby +90 point. Forward mth is very bearish.. Physical mkt not looking rosy ??

Considered a range bound mkt today. But could see more selling if opens lower tomorrow and if 36 breaks amid recent top heavy scenario.

Fkli wrap..bounce mode hamper by fbm..

Cautious yes,..but this cautious especially fbm !

Despite regional +1% at its worst, DJ futs +50 and Europe near +2% in late Asian hours, buyers showed zerointerest in fbm. It struggled mostly near 53 lvl for most of the day, before a dip around -4p in preclosing phase, MAYBANK, PBB the main culprit, total -2.4p. And therefore extending its losing streak to 9 days with 98p loss.

No major improvement as far as tech outlook is concerned. Above 1250 +ve tone. More rebound seen if >60. Otherwise 60 looks heavy when fbm

Morning gossip....fkli firm 1255-60 fcpo firm 2450-80

DJ recovered from lows as much as -290 to close dw -20. But Europe slumped almost 3%.

8.25: DJ futs +73. Regional +1%. Like others, recovery tone after big losses. CO +3% GOLD +1%

fkli : anticipates recovery phase after a 100p plunge but can the mkt sustains a min 1/3 bounce, near 1270++ in the coming days. Today's resistance is seen at 60. Above 1250 is +ve.

fcpo: SO +0.5%. mkt is seen rebounding from yesterday losses. Positive bias once above 2450.

Fcpo wrap....profit sell after 2500 heavy for 3 days

Fcpo finally caved in to external pressure in PM after holding steady near 2500 in AM session. Tech selling pressure after it dipped below 70, after a 20p-gap dw opening in PM session, and 50 levels in late trading.

It seems the mkt will moves within the triangle as 2500 looks unlikely this week. So the target is set at one notch lower, 2400-2450 band. If so , can 2400 stays, the 1 week low. ?

Fkli wrap...blood everywhere...

Everywhere is looking at -3%, as selling continues after most mkt dips into tech bears territory this week with mkts enter into correction phase and a lopsided bet that it will turn downtrend amid recent -ve external like European debt issue, China bubble. Meaning the big correction for 2008 is here ? after so much talk since 3Q08

Fbm/fkli lost almost 100p in a week and yet to steady. Sell on rebound capping the high ground while panic sell remains a dominant force.-those who trades on hope of bargain.

Technically, mkt failed to protect 1250 lvl, means very high chance of seeing year lows lvl near 1220 if not 1200 before bears take a break. In case of a bounce, upside target is 70 lowered from 90.

Morning slump...fkli bearish 65+ fcpo 2490-2510

DJ -130 fear of a bear mkt outweighed strong housing data after mkt dipped into correction phase. Europe mixed, flat.

8.20 : dj futs -50. regional -1.5%. commodity -ve tone, except GOLD +1% CO -1%

fkli : another selloff seen once fkli dip delow 70 with support seen at 60 if fbm does not face any major pressure like yesterday. First 65-70 range but mkt is likely to head for the lower ranges of 1250-1290 band b4 significant rebound.

fcpo : agricultural bucking the trend, SO +1%. This would encourage fcpo to make anotehr attempt at 2500 resistance. trading banfd is raised one notch higher 2490-2510. +ve if > 2490

Fcpo wrap...quiet and resilient...

Despite weaker SO and CO, fcpo remains resilient on follow through activities. Instead of testing support, mkt made two attempts at 2500 but heavy. Very quiet and thin vol.

Unless the mkt breaks above 2500 soon, a pullback towards 2450 is expected as mkt continues its sideways tone.

CME CPO zero trade as at 6pm local time. INDO CPO only aobut 70+ lots traded.

Fkli wrap...y-t-d 0% ...near year lows..fbm hammer...

Despite regional firmer tone, a bad day for fbm that saw massive selling in the first hour of trading. SIME the worst hit, -5% at one point, about half of fbm index losses. Mkt found support at 70+, around last year closing lvl.

This caused panic selling in fkli after +ve zone in the first 15 mins. It recovered thenafter but only reaching 83 before selling reemerged after 4pm when Europe/DJ futs reversed early gains. DJ -50 Europe -0.3% in late Asian.

Technically, still bearish, 1250-1290 range. Below 70 is fresh sell signal. Immediate resistance is lowered to 80 as mkt is due to rebound after a 7-day losing streak that wiped off 70+ point. Target for rebound is 1290-1300

Morning quiet...fkli firm 6-90 fcpo soft 2470-2500

DJ +130 a corection bound after Thu big drop. Sentiment remains mixed and cautious, Europe marginally lower Fri.

8.30 : DJ futs -20. Regional flat. Commodity also flat. All taking a wait n see stance.

fkli : seen steady on bounce tone. Above 86 is intra day buy and if full scale rebound comes, 1300 is the target (around 1/3). but at mom, 85-93 first till fbm breaks 90

fcpo SO -1% : CMECPO starts tradring today 6am till 5am local time ( Chicago 5pm-4pm) DST in force) But zero trade. Last week Indonesia also launched its own CPO futures contract.
Back here, after a strong closing last week on spot mth activity, 2500 is likely to remain a resistance given SO losses but support seen at 70+.

Fcpo wrap...drag higher by spot and weak RM

Actually a very quiet day, mostly higher despite early weakness as strong spot mth and weaker RM encouraged follow through.

Mkt is up RM35 for the week after surviving 2400 support test. It is back to 2500. From here, expect tug of war as mkt reaches short term resistance lvl, around short term SMAs.

But upward-bias if above 7SMA.

Fkli wrap....only opening selloff..steady for most..but bearish

After early selloff, mkt cautious for most AM session and firmer in PM session despite Europe -0.5%. Positive signals include DJ futs +50 and SH +1% gains. While fbm mostly sluggish for the day, near 85 for top end, fkli tried for gap closing near at 96. But heavy above on fbm drag.

Technically , with 1290 3-mth support taken out, the next target is 1250. Therefore if 1280 breaks on Mon, another round of selling is expected. Otherwise can expect some bounce first towards 7 SMA. Short term stays -ve if not bearish.

Morning plunge...fkli bearish 1290-95 fcpo firm 2450-70

DJ -380/-4% o global selloff on European debt fears. Europe -2%.

8.20 : DJ futs --26. Regional -2% to 3%.Comoodity not much affected excnept CO -2% the rest flat to -1% lower. GOLD -1%

fkli : bracing for a plunge, expect some bounds after initial selloff towards 95. But remains bearish under 1300. Below 1300, it could target the year lows lvl major support near 1230 in the short term.


fcpo: agricutural products quiet. Energy and metal hit worst. SO -0.1% but given such external fcpo upside is seen limited depsite follow through activity.

Fcpo wrap..strong bounce,back to range play ? 2400-2500

Fcpo revert back up to previous trading lvl, thanks to a weaker ringgit tone. Fcpo did start strong on SO +1% gains with some tug-of war around 50 before extending gains in PM. despite single digit growth exports estimates for 1-25th period, released by ITS/SGS.

With 2400 steady for the past 3 days, profit buying pushed mkt higher, putting a halt to recent dw trend tone. Mkt is seen range play within 2400-2500 band in the coming days.

Fkli wrap....survive 1300 acid test..for fear of overdone

1296-1300 and 1310-1313.5 both knee jerk reaction, false signals. Like fbm, fkli mostly 1300-1310 cautiious but expectation for a rebound is growing. Fbm daily candlestick says so too. It looks like reaching the tail end this week. Current losing streak stretches into 5 day now.

While short term treand remains bearish, watch out for a rebound if mkt stays > 1300 this week. However, selling can reemerge next week if it fails to cross back above 1310.

Morning blues...fkli weak 1303-1308 fcpo firm 2430-50

DJ -70, minus on Euro but off lows on Fed's ecnomice positive outlook. Europe around -3%...no reprive yet.

8.20 : DJ futs +35 . Regional -0.5%. Commodity mostly recovery mode, CO +4% back above 70 mark. GOLD -2%.

fkli : with +ve DJ futs, 1300 looks suppotive but breakdw pressure remains if fbm.fkli stays under 1310. If fbm crosses above 10, this could signal a rebound for the rest of the week.

fcpo SO +1%, most commodity recover together with a rebound in Euro. Fcpo has been alternating between 2400-2450 this week and that is unlikely to change today, with the upper range insight . Unlikely to make headlines today.

Fcpo wrap..still resilient at 2400..ranging and quiet

Fcpo floating above the same support, no real attempt at 2400 yet after Mon’s gap down.

While CO at year lows, SO fell only 1% giving fcpo bulls some incentive to keep the mkt above 2400 so far but within a –ve bias range of 2400-2450.

Fkli wrap..short term bearish..1290-1320

3 month low. Breaking away from its recent ranges, fresh short term dwtrend seen.

After a bad AM session, mkt turned for the worst in PM with everywhere flashing -2%. HS -360. Selling for tomorrow too ? after Europe -2% DJ -100 in late Asian hours.

Selling in Fbm was ferocious today, starting with plantation stocks in late AM session followed by financials in PM session. Maybe GLC gave up hope after supporting the mkt since later April with external overweighed.

Technically bearish, < 1310, and can expect another 10-20 point b4 potential for rebound. 1290-1300 looks good as support for this round of selling.

Morning slump...fkli weak 20-25 fcpo weak 2520-30

DJ -114, stocks slumped Tuesday as the euro touched a fresh four-year low versus the dollar, reigniting fears of a second recession Europe however, 1% higher.

8.15 : DJ futs -70. Euro/$ -2%. CO tumbles 5%. GOLD flat, near 1230, off Mon's record high of 1250. Regional -1%.

fkli : a setback of bulls, fkli is seen back to its critical support of 20. however, 20 looks good as day's support unless fbm breaks 18. Below 25 is bears' zone.


fcpo SO -1%. 2400 back in danger. but at current rate fpco is at it immediate support lvl of 2420. Below 2420 -ve, 2400-2420 range, and potentially bearish.

Fcpo wrap...profit take buying...

Commodity class rebound in afternoon after recent steep losses, leads by CO taking cue from a stronger equity tone. This helped FCPO to recoup some losses, narrow Mon’s opening gap.

Despite recent big drop in CO/SO prices, Fcpo shows strong composure, keeping a sideway tone - albeit one notch lower this week- making Fcpo very expensive relatively to SO but yet does not seems to attract hedging or arbitraging activities. With lack of such sellers, mkt is left with specs with short term in mind, therefore keeping the mkt ranging, sideways and boring. Where r the big boys?