Thursday, July 15, 2010

Fkli wrap..profit take sell...strong buy interest at 30+




Winning streak ended today, as concern over China slower growth in 2Q gave excuse to take some profits. A slow and mostly –ve tone after attempts to support 1340 ,like yesterday, proved too hot to handle. Selling increased in PM after Asian mkt digested China economic data during lunch break and voted for a sell.

Europe -0.2%. DJ futs not clear signal, mostly flat.

Uptrend remains intact but a trading sell if < 1340. 1325-30 range will be critical for long positions


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