Friday, January 28, 2011

Morning start...fkli firm 1523-25 fcpo strong 3700-20

-DJ +4. bulls and bears battling at 2 1/2 highs. Strong earnings give bulls incentives but so-so job/housing data, picking up but slow pace give bears reason to bet on "too much" Europe mixed, flat.

8.30
-DJ futs -12. Regional marginally lower, -0.2%. Commodity mostly lower. CO -1.5% GOLD losses it shine, -2%.

FKLI
-w/o external help, fbm.fkli look vulnerable to selling. fkli seen at lower band of 20-25 till fbm makes a move. fbm -ve intra day if < 1525, targeting 20. Upside if any , seen cap at 30 both

FCPO
-SO +1.3%. Another gap opening, gap up, just like Thu's scenario. Fcpo seen regaining back above 3700 with another attempt an 3700-3740 range again after missing the same target yesterday. No major breakout seen today.

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