Tuesday, June 15, 2010

Fkli wrap...damage control and toppish day...bears watching






A mixed day for most mkts, no direction, in and out flat line but generally firmer tone, all within 0.5%.

Fbm takes firm tone but trading range about half of Mon, extending its winning streak to 7 days totaling 12p.

Fkli mostly around 1295-1297, maintains discount after a selloff a 9.05am that lasted only seconds and sentiment never really recover thereafter. Fat fingers trigger sellstop or sellstops domino effect ??...nobody really knows but mkt spirals from 1296 to 1269.5, only to recover back to 1290 within milliseconds.

Technically , 3 day toppish outlook. A sell mkt if < 1300-1303 with the assumption of another range bound play again.

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