Off lows on profit take buy in late PM. Fcpo dwtrend remains if under 7SMA But next week is tech neutral if mkt stuck at 3150-3200 with major selling seen if 3150 fails again. Otherwise, chance of double-bottom if external improves.
Double bottom or free fall next week ? If former, 3150-3300 and if latter 3000-3200 in the next 2 weeks. .
p/s CO -4%/93, under 95….. bad news for MAS again…as it would likely incur derivatives losses….nevertheless still paper loss. Since QE2, CO the proxy for cheap money play this year, moves from 75-112. So, risk of seeing 75 again after post-QE2.
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