Thursday, July 15, 2010

Fcpo wrap..big gains on buystops w/o limit..twice







Big gain on follow through tech buying , supported by firmer commodity pirce especially in the PM. 6 day winning sterak, +RM169.

Buystops order pushed mkt to new height twice today - one in AM,10:45 and one in PM, 5:40. Both created an instant RM30 gain.
So fae this week, FCPO outperformed SO by 2% to the upside.

No doubt bullish but late buyer should watch out for pullback towards 2400. But sell on weakness not strength unless you see 2500 and above


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