Monday, February 14, 2011

Morning start....fkli firm 1492-94 fcpo weak 3910-20

DJ +40, Europe mostly higher as Mubarak stepped dw.

8.25 : DJ futs +10. Regional strong, +1%. Commodity mostly lower as Egypt-inspired gains eroded CO -1.7%.

FKLI
-strong external to reduce its discount, see attempts at 1500 again but still a sell-on-strength amid weak techncial outlook. Above 1490 is strong intra-day tone on profit take buy activities.

FCPO
-SO -1% . bulls have to go defensive first but sentiment is expected to stay +ve, > 3900, but 3950 looks toppish today unless SO recovers over the course of the day. Below 3930 is weak intra-day tone.

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