Tuesday, May 18, 2010

Morning start... fkli firm 35-38 fcpo soft 2520-2530

DJ/Europe mixed, flat after Fri's selloff. DJ off lows Europe off highs. Its still a guessing game till Greece next big debt payment due 19th.

8.15 : DJ futs +6.Regional recovery mode, near 1%1. Commodity weaker tone, near year lows leads by CO -1.55. GOLD -1%.

fkli : looks like 30-40 sideways play. Above 33 or 34 is intra day buy mkt but mkt is unlikely to create +ve upside move above 40.

fcpo : SO not much, still -ve tone -0.35. high probability for fcpo to narrow yesterday;s gap but first it must cross above 2430. Below this lvl. dwside risk is greater but unlikly to see a breakdw below 2400 at current externals.

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