Wednesday, December 01, 2010

Fkli wrap...early selloff but ends neutral...


Selling in AM amid weaker DJ overnight but a strong comeback in afternoon. Regional all strong in PM as DJ futs indicates a +ve DJ tonight, +80. Plus, Europe +1% in late Asian trading hours. HS finished +1% from -1% losses. SH flat.

Fbm’s banks weak but AXIATA and Petronas’s stock lift fbm in PM. Recent fkli big swing personality continues, sharply off lows therefore manages to stay neutral today.
Mkt likely to remains dwtrend but 1470-1480 looks strong support for this week.
Negative if mkt stays under the red line resistance, bearish if under the dwtrend line.

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