Wednesday, February 23, 2011

Morning start....fkli weak 1503-05 fcpo bearish 3550+

DJ -180, about 50 point more losses than Asian expectation. Europe -0.5%, off Asian hours lows.

8.30
DJ futs +14. Regional steady, mixed, near flat line. Commodity tumbles, except CO, "popular uprisings pressured prices because they produced an uncertain future for theglobal economy and demand for commodities" . CO +0.5%

FKLI
-lower tone but built in discount would likely to limit fkli support near 1505 first. More selloff if fbm < 1510, targeting 1490. Upside target is lowered to 1510 from 1520

FPO
-SO -5%, knee jerk selling seen in fcpo opening trades. Fair seen near 3500 but fcpo is likely to see opening near 3550, taking trading range. Bearish if under 3600.

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