Wednesday, May 25, 2011

Fkli wrap...the end of dwside play...already ?



Fbm strong despite weak external. GLCs, like SIME PCEM lead a strong start. Regional mostly -0.5% on banking stocks. HS manages to reverse a -1% in early PM to finish +0.1%. Dj futs -50 off lows of near -90. Both provide additional oomph for fkli to narrow its discount. Europe -0.5%.

Technically, back to square one for bears, as 1520 remains solid support and seen moving back to familiar 20-40 sideways tone. It seems no major trend or breakout scenario this week too.

+ve tone if fbm > 35 tomorrow, for 30-40 range play again

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