Friday, August 12, 2011

Morning start...fkli strong 1480-83 fcpo strong 3000-20

DJ +400 driven by a report showing jobless claims fell to a four-month low, and by Cisco Systems' better-than-expected guidance for the current quarter. EU +3% . Both recoup most of Wed losses.

Regional +0.5% a mute reaction as regional only mixed to -1% yesterday despite US/EU on Wed. DJ futs -30. Commodity higher. US$ mostly higher by +0.5%. CO +3%

Fkli can target 1491 ,Trading range is seen at 1480-1500 but likely to finish off high of 1500, if any, and settles near 1490,Mostly likely 80-90 range. Positive for the day as long as fbm > 72.

fcpo SO +2% looking good for 3000-3050 range , with further gain next week if it can finish above 3000 today. Above 2980 is positive tone today.

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