Wednesday, February 02, 2011

Morning start...fkli strong 1520+ fcpo strong 3840-50

-DJ +50 and +150 over 2-day. Europe +2%. Strong US earnings plus +ve Europe economic data push Egypt concerns into the back seat ..as players unwind risk-adverse trades.

8.15 :
DJ futs -3. Regional higher. Regional generally +0.5% yesterday. NK +1% despite strong yen. Commodity firmer tone, CO +1%.

FKLI
-fbm seen taking 20-25 range, above 18 is upward-bias. Fkli seen 17-23 with +ve tone, maybe 30 if fbm can steady above 25.

FCPO
-sO +1.7%. fcpo is set to to test 3836 resistance but look topping around 3850 at the current SO's gains. Above 3800 is bullish, even 3900 today if kneejerk.

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