Friday, August 27, 2010

Morning start....fkli firm 1404-09 fcpo weak 2520-30

DJ -70 on selling under 10k mark but Europe +1%. It seems the fight is still out there for direction.

8.15 : DJ futs -7. Regional -0.5 to -1 %. Commodity mostly lower but mildly.

fkli : weak external but eyes on fbm feel good factor. Uptrend mkt but intra day sell with tight stop if fbm above 1408. or fkli > 1410. Downside seen limited at 1400+ while upside target 1417-20, cap by weekend profit take sell.

fcpo : SO -0.5%. Fcpo seen starting in intra-day neutral range of 2510-2530. To capitalise Thu's momentum, fcpo must take out 2535's 7SMA resistance. Otherwise, dwtrend remains intact and bears will act if fcpo drifts under 2510.

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