Wednesday, May 04, 2011

Morning start...fkli soft 1526-28 fcpo soft 3250-60

Quiet in US/Europe, mostly sofer tone as falling CO, -1.5%, weighed. Regional, KOS and AUS near -0.5%. NK reopens Fri. FKLI seen steady first due to its built-in discount but cautious on whether fbm will hold above 30 would likely to keep bulls in check. 20-30 if fbm < 30 . FCPO SO -1%. , back to recent lower ranges, 3240+, but unlikely to see fresh breakdw today. Beliow 3270 is bearish.

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