Tuesday, November 16, 2010

Morning start...fkli firm 1498+ fcpo firm 3370-80

DJ +9 off highs. Europe strong near +1%.

8.30 : DJ futs -20. Regional softer tone , within -0.5%. Commodity lower tone but all seems directionless. Dollar strong against Asian FX since G20.

fkli : seems like a clueless day and maintaining sideways tone. fkli discount preference will continue till fbm > 1504 but dwside seen limited if fbm > 1500.

fcpo : SO +0.5%, enough to trigger a run towards 3400 again but may not be enough to sustain it. After all, fcpo already outperformed SO yesterday. Profit take seen ahead of holiday tomorrow. Above 3360 is bullish mkt.

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