Thursday, July 22, 2010

Fkli wrap...still in and out of 1340..fbm drags..





Back to day’s high in softer and thin mkt but Fkli missed the opportunity to reverse early losses despite encouraging external in PM session. Only managed to keep its premium stance but did not run far as fbm < 1340.

Regional turned higher from -0.5% to +0.5%. DJ futs at +80. Europe +0.5% but fbm stayed sluggish on SIME.

Chart slightly worse off than Wed but no big dent – still the same theme, tug-of –war. Looks toppish but steady for the remaining week, 1350-70 kapoosh!, and likely to sideways 40-50. 1330 is seen as the base for the next move up.

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