Morning start...fkli firm 1275-80 fcpo soft 2430-40

DJ -115 on technical weakness. Europe -1%, as Euro weakness continues to raise concern over Europe debts crisis.

8.15 : DJ futs +30. Regional softer tone. NK -1% KOS -0.2% Comodity mostly higher on rebound tone. GO +2% CO +0.5% despite stronger dollar.

fkli : yest's discount would help fkli to stay within 75-80 range in the first 15 mins of trading. may catch up with fbm if fbm manages to steady above 85. Internal NEM feel good factor could push fbm toward 90 resistance but w/o external reinforcement furhter upside seems unlikely.

fcpo : SO -0.5% on follow through sell. fcpo is likely to start at lower band of 2430-2440 again. Dwward-bias if < 2440 but looks like range play again.