Asian Equity Performance : April 2009

April/Ytd %

TWI +15/+30
HS +14/+8
Kos +13.5/+22
KLCI +13.5/+13
STI +13/+9
NK +9/-0.5
SH +4/+36

FKLI : 975.0/993.5/975.0/988.5/+16.0/+1.6%

May09 : 979.5/1000.0/979.0/994.0/+21

A record drop in U.S. business inventories in the first-quarter and surprisingly robust consumer spending were widely seen by economists as positive pointing to a growth pick-up in the world's largest economy in coming months. CNN

The U.S. Federal Reserve tweaked its policy statement to say that the economic outlook was improving while vowing to keep rates at a historic low for a long stretch. CNN

Regional mostly 3% higher, China mkt +1%, Taiwan +6%

Cash 990.74/+23/+2.4%

FKLI sell-market was shortlived this week as price turn into buy territory today in an exceptional bullish tone. The market has conquered back 980-1000 band convincingly today, giving it a strong footing for an attempt to break into 1000-1050 range next week.

Consolidation zone : 960-1000. Upper half - positive. Lower half -negative

FKLI : morning gossip

DJ +170/+2% after the Federal Reserve held interest rates steady, as expected, but issued a slightly more upbeat economic outlook.

DJ futs +6. NK +291/+3.4%. Kos +2%

Our mkts is seen moving one range higher to 970-980 for the start and a strong possibility to revisit 990.

Will the market reverse this week negative perfomance so far to a more neutral stance, above 980 by end of the day? I do not forsee the mkt turning bullihs today on the daily chart.

FKLI : 970.0/974.5/958.0/972.5/+5.5/+0.6%

M ay09 contract : 967.5/976.5/957.5/973.0/+9.5


DJ futs +50p. Regional higher +2%, led by HS in the afternoon on talks that China would inject more capital into its economy.

Cash recovered early losses and turned positive toward the end. 967.46/+2p

FKLI is trading at premium as players bet on a US rebound tonight While off their lows. Our mkt remains below short term resistance lvl. So the bulls should not be cheering first. It seems the mkt may just stuck at the higher band, 960-980, at best if US strong tonight, ahead of the long weekend.

Still, a sell market.

FKLI : morning gossip

DJ -8P, reversed early losses as a stronger-than-expected consumer confidence report competed offset concerns about the health of U.S. banks and the possible economic impact of swine flu.

DJ futs -3. NK holiday. Kos +10p.

DJ performed much better overnight than anticipated as DJ futs pointed to a 100p drop in Asian hours yesterday. Therefore this outside factor is seen positive at moment and could lead Asian market higher today unless DJ futs slip sharply.

Technically, still bearish. Further leg down( 940-960) or stabilise ( 960-980) trading range today ? The idea is sell on weakness but position-buy is probably a waiting game today.

Below 7SMA is a sell market. Let see how far teh mkt will take us.

FKLI : 987.0/988.5/962.0/966.0/-16.0/-1.6%

DJ futs -100 as the market got stressed over bank stress test outcome Regional extended their fall, down 1% to 2%

Cash 965.7/-14.

Technically, our mkt turn sell-market after today's perfomance, for the first time this month. With the short term support taken out, the next move is a move towards the long-term uptrend support line around 930-940 at this point before a rebound.

Sell-on-weakness market as long as July09 stays below pink line

Breaking News : Equity slumps..

-The Nikkei average fell 2 percent on Tuesday, as the yen surged to a one-month high versus the dollar on a report that U.S. regulators have told Bank of America and Citigroup they may need to raise more capital

-Based on the results of recently concluded "stress tests," U.S. regulators told Citigroup Inc and Bank of America Corpthey may need to raise more capital, the Wall Street Journal said, citing people familiar with the situation

-Hong Kong shares reversed early gains to end the morning session 1.4 percent lower on Tuesday as fears about the economic impact of a possible global spread of a swine flu outbreak triggered fresh selling.

-The World Health Organisation (WHO) has raised its alert level on swine flu to phase 4, indicating the infection could spread between between humans to cause "community-level outbreaks".

Source : Reuters

FKLI : morning gossip

DJ -50/-0.6%.

DJ futs -40. NK -0.4%. Kos -1%

FKLI is seen hovering around 980-990 if cash can hold above 980. Once outside markets stabilise, our market will capitalise on internal feel good factor. If 980 breaks, follow through selling is expected.

FKLI: 1000.0/1003.0/979.0/982.0/-15.0/-1.5%

DJ futs -120p. Regional lower, wary of new virus.

Cash -12p/-1%, gave up early gains on profit take amid weak outside markets,

Both cash and FKLI still managed to hold above 7SMA. Therefore, no serious damage on the daily chart yet. But the market cannot afford to suffer further setback tomorrow if it wants to see 1000 in the remaining days of this month.

If 7 SMA breaks, the target is seen at 950++

FKLI : morning gossip

DJ +119. DJ futs -123. NK +70. Kos flat.

DJ futs seems to offset Friday's gains. But regional is positive in early Mon's trading

As long as FKLI and cash stay above 990 and 982 today, an attempt to break 1000 is in place.

Economic data week ahead : US focus

selected few ...

Nearly 30% of the S&P 500 reports results this week.

Tues : Pfizer ( est +0.49 1Q09 vs +0.61 1Q08 ) , April consumer index ( 28.8 from 26 in March ), Fed policy meeting.

Wed : Fed interest rate decision ( to remain at 0%) , 1Q09 GDP (-4.9% vs -6.3% 4Q08)

Thus : Exxon Mobil ( +0.94 vs +2.03), weekly jobless claims

Fri: Chevron ( +0.81 vs +2.48)

FKLI: 985.0/1000.0/982.0/997.0/10.5/1.1%

DJ futs flat. Regional mixed.

Our mkts continued to build on recent bull sentiment. Cash +992.68/+14p. Above 982++, is bullish market.

FKLI touched 1000. Immediate support is raised to 985. Above this is bullish.

Many retails tempted to sell as price is too "high". Unfortunately mkt itself does not recognize high or low. What is important is – MOMENTUM. At moment, momentum is very positive and bullish if1000 breaks on Monday. You would be surprise how far it can go if 1000 breaks on Monday. Still want to sell ? fine..look for major resistance to sell, say 1030-1050 weekly range or sell if 7SMA fails to hold but not “somewhere high here and there “

FKLI : morning gossip

DJ +70/+1%

DJ futs -9p. NK -0.5%. KOS -0.1%

Cash above 970 -buliish. FKLI above 980 - bullish. Meaning another fresh run is possible. The market is seen keeping its bullish outlook as Najib feel good talk factor continues. Najib is expected to "talk" about financial sector next week following this week service sector "talk"

Momentum is positive. Fresh sellers should wait for a turn in momentum first and not aim for "high" price. Both mkts are unlikely to see sell signal on a daily chart today.

FKLI is seen range bound 980-990, bears can take consolation if no new highs are created.

FKLI May09 is called to open within 980-985 band.

FKLI : 971.0/989.0/969.0/986.5/17.5/1.8%

DJ futs turns +ve in the afternoon. +60p. Regional up 1% to 2%

Besides positive outside markets, our market capitalised on Najib feel-good factor from the start.

FKLI , a bull breakout today. 1000 seems reachable if outside factors stay firm tonight. If not the mkt is seen holding for further upside next week.

FKLI : morning gossip

DJ -80p/1%

DJ futs +9. NK and Kos +0.2%

FKLI is seen trending soft today within 960-970 range. Further downside if cash breaks 960. Buyers are likely to take a backseat if mkt stays below 970 today.

May09 is called to open 5-8 points lower.

FKLI : 974.0/980.0/965.0/968.0/-7.5/-0.8%

DJ futs –60.

Regional negative sentiment led by China markets on talk that new lending in China has been significantly lower so far in April. HS –2.6% SH –3%

Cash off year-high but marginally higher 958.58/+2P. Sentiment will turn negative only if 965 fails to hold

FKLL erased 50% of this week’s gains. Profit take selling. No serious damage done to the chart outlook yet, above 960.

FKLI : morning gossip

DJ +130/+2% on financial sector.

DJ futs -23. NK and Kos +1%.

Aiming for new high. At 1%, cash is seen at 975 top the upside. FKLI is seen hovering around 970-975 in initial trades, waiting for cash signal. Upside potential towards 985.

The market is expected to stay "buy" today on a daily chart. 960-985 positve to bullish.

FKLI : 953.0/975.5/952.0/975.5/+11.0/+1.1%

Regional mostly negative. HS/NK -3%. The rest off lows.

DJ futs also turned positive in late afternoon. +30p.

Indeed, our mkt very resilient from the start and moved higher when others mkts recovered. Not too sure of any major news but if you are looking for explanation 1) catching up with other mkt after we performed badly last month 2) feel good factor from Najib on-going economic talk.

FKLI is few steps ahead of cash and in a breakout case first. Very dangerous to hold short position after today’s price action. The next stop is seen at 985 before 1K. While the cash must play catch up first, FKLI is seen safe from any breakdown scenario after moving away from 7SMA. Support is raised higher, see dw-arrow.

FKLI : morning gossip

DJ -290/-3.6% investors bailed out of a variety of sectors after the recent run as question arises whether recent better-than- expected financial sector result was just a one-tine thing.

DJ futs -10P. NK -3% Kos -2%

Both mkt downside risk is seen down to 950 today. Not too sure whether there will a breakdw, dw-arrow band. The mkt may hover around 950-960 first. FKLI is seen starting around 955. Below 960 is a sell mkt.

FKLI : Recap 955.0/970.0/950.5/965.0/+7.5

DJ futs –80. Regional all positive, mildly.

Cash reversed early losses, parking near the recent high level. 968.37/+3p

As the cash managed to stabilize above 860, FKLI took to the higher ground in the afternoon, pushing into a new trading band of 960-970 from 950-960 in the morning. Trading was light

FKLI still in range trading and seems eager to visit 1000++ but cash still sluggish, below 970.

I think, if we see a higher mkt tomorrow, above 970, it would signal a NEW buy market for the remaining days for this month, targeting 1k.

Bears should watch out, especially after the markets moved further apart from their short term supports today – 950 FKLI and 960 Cash.

FKLI : morning gossip

DJ futs -40p/ NK and Kos -0.5%

A weak start is seen but will FKLI makes a new move beyond 950-960 range and in today's likley case below 950 ? Cash below 960 indicates a sell mkt in the coming days .

My take ....Buy Bursa Malaysia (1818)....last 6.20

If you think market recovery is on the road, BM does give a very strong correlation as a recovery translates more trading volumes... meaning betting on a better profits after BM 1Q poor perfomance.

p/s plus with code like 1818, nothing can go wrong feng shui wise

Economic data week ahead : US focus

selected few...

as the 1Q earnings continue...around 140 companies, or 28% of the S&P 500 report results this week

Mon : BoA ( est +0.05 1Q09 vs +0.23 1Q08 ), IBM ( +1.66 vs +1.65 )

Tues : Yahoo ( +0.08 vs +0.11)

Wed : Wells Fargo ( +0.41 vs +.0.60 ), Morgan Stanley ( -0.09 vs +1.45), Apple ( +1.09 vs +1.16)

Thus : Microsoft ( +0.39 vs +0.47), Amazon ( +0.31vs +0.34), March existing home sales ( est 4.65 million unit )

Fri : March new home sales (+340k unit vs +337k Feb )

FKLI : Recap 959.0/966.0/953.5/957.5/+5.5

DJ futs –54p. Regional mixed, off highs cautious ahead of weekend with Citigroup due to release result

Cash on 7-day winning streak, worth 57p. 965.17/+4p and above 200SMA for the first time since the major breakdown in March 2008. Convincing or bluff ?

FKLI resilient thanks to cash direction but remained in Thu’s neutral range. Its therefore managed to avoid a breakdown but missed 200SMA resistance by 2 points.

Do not sell on strength in early part of next week, if any. Sell if 7SMA breaks. Can consider buy if FKLI breakout above 960, with a wishful thinking it will break 970 soon.

Both our market are seen testing major resistance lvl of 200SMA. A convincing breakout can trigger huge rally targeting 1100++. Or is this the end of the current run from 880 ? With price above short term SMA, we must assume bullish stance. If the market is perceived as toppish, a retreat towards 910 first.

P/s 200SMA is widely use by hedge funds to gauge the market long-term trend.

FKLI : Morning gossip

DJ +95p/+1% on "beating estimates " earnings from Google and JP Morgan

DJ futs -13p. NK +2% Kos +1%

Hopefully this is enought to weather some of yesterdy dark clouds especially FKLI. All eyes on cash now to blow the clouds away. As long as cash moves within 960-970 FKLI is likely to stay above critical support of 948-950. Danger of a breakdown remains high if this support fails.

FKLI : Recap 969.0/974.0/949.5/952.0/-6.5

DJ futs turn minus in late Asian trading hours. –25P at 5.15pm. Regional mixed.

Cash on 6-day winning run. 961.28/+4.6p. Off highs after failing to break 970. Probably already reach top this week, candle looks “tire”

Despite early upbeat tone, FKLI sentiment turns lower after cash toppish outlook Selling was more aggressive in PM session, HK turn minus in the afternoon, on profit selling - Mass psychology in action.

A sell market first and the Q is can 7SMA hold? If not, 14SMA (yellow line) is the immediate target. Buying only if 962 regains, at least.

FKLI : morning gossip

DJ +109/+1.5% on "hopes of recovery"

DJ futs +50. NK +2.5% Kos +2%

FKLL and cash are seen scaling new highs today. FKLI is seen trading at 960-968 range first before making fresh move, awating cash signal, to see whether its seen heading towards 970.

FKLI : Recap 952.0/967.5/946.5/958.5/-3.5

Most markets closed off the lows and some turned positive led by HK and SH. –1% to +1%. DJ futs also reversed early weakness and trading +25p at 5.15pm.

Cash 956.68/+3p, bullish performance today. 6-day winning streak totalling +49p. Above 950 indicates a continuation of a bull run

FKLI marginally lower but still very resilient. Selling interest came in at the high amid cash poor closing.

Immediate support is raised to 950. Trading-buy on strength as trend remans bullish, targeting 970, especially is cash breaks above 963++ . No major sell signal above 7SMA.

FKLI : morning gossip

DJ -137/-1.7% on weaker retail sales report. Earnings weak but better than expected.

DJ futs -47. NK and Kos -1%

FKLI is seen trading within 950-960 first. Downside will only increase if 948 fails to hold.

FKLI :Recap 942.0/962.0/938.0/962.0+18

DJ futs –20, despite so, regional was mostly positive sentiment on feel good factor in the financials sector after Goldman Sachs gave the bulls a good excuse to long. HK led with HSBC. China on follow through after recent strong ecnomic data. NK -1% though as focus on automobile sector.

Cash was strong from the onset. Closed at year-high 953.71/+12. Not too sure the reason but local analyst did revised KLCI target higher for the near term and probably entice retail to re-enter. Ringgit stronger, I suspect foreign buying as well.

Despite a weak start, FKLI later took cash direction and reversed early losses. Cash trenad remains bullish above 940.

Technically, cash and FKLI reversed Monday’s toppish outlook in a very convincing way too. Bears are now exposing themselves with another fresh risk towards 980++ as consolidation phase did not materialize today. Immediate support is raised to 950.

FKLI: morning gossip

DJ -25p/0.3%.

NK -1%. Kos 0.5%. DJ futs -18p. Concerns over GM bankruptcy was offset by Goldman Sachs 1Q profits

A breakout higher seems unlikely today without strong outside factors. FKLI is seen moving within Friday's range , about 933-946.

FKLI : Recap 948.0/951.0/934.0/944.0/-2

DJ futs –50p, quiet throughout the day.

But regional, +2%, strong led by China a rise in 1) industrial output and 2) bank lending in March.

Cash 941.4/+0.03. Toppish candle, must break higher tomorrow otherwise the market is due for a pullback towards 930.

Like cash, FKLI managed to clear early losses and position itself for a breakout tomorrow. But the weakest candle in 3-day, a good sign for bears.

No buying at this moment unless the market can take 950 level.

FKLI : morning gossip

DJ futs -56. NK flat -0.6p.

Without a fresh high, FKLI is seen trading within Fri's range 930-946.

Its seen opening around 940.

Economic data ahead : US focus...

selected few.....1Q earnings report takes centre stage week ahead. Bad 1Q, YES. Surprise, NO.

Tues : Goldman Sachs ( est +$1.60 per share 1Q09 vs +$3.23 1Q08 ), J&J ( +1.22 vs +1.26 ), Intel ( +0.02 vs +0.29 ). Retail sales ( est +0.3% March vs -0.1% Feb)

Thus : JP MorganChase ( +0.32 vs +0.68), Nokia ( +0.15 vs +0.38), Google ( +4.95 vs +4.98). Housing starts ( est -550k unit vs -580k unit in Feb)

Fri : Citigroup ( -0.37 vs -1.02), GE ( +0.21 vs +0.44)

FKLI : Recap 933.5/946.5/931.0/946.0/20/2.2%

DJ futs closed. HS closed. China stocks led a 2-3% gains. NK +48/+0.5%

Cash new year-high at 942.4. Closed at 941.38/+24/2.6% matching DJ Thu’s gains. Strong volumes too.

FKLI new year-high at 946.5. Closed at 946.0/+20/+2%

A bullish day on follow through and short covering amid strong outside factors, DJ above 8000 mark. Both cash and FKLI experienced technical breakout. The next target is seen at 970-985

band if market break new high again.

At mom no sell signal, have to wait for intra-day first on Monday. with the mkt treading higher, shorts are advised to get out if 950 round figure resistrance break or carry your risk all the way to 970++. S ell-on-weakness, if any, for a pullback if 940 fails to hold, targeting 7SMA.

FKLI : morning gossip

DJ surged at the closing of the week.246p/+3%, on feel good factor in the banking industry after Wells Fargo strong 1Q profit perdictions. No US market today n tonight, Good Friday

NK +1% Kos +3%

Year-high today ? , very likely both mkt will visit these resistance level hit in early Jan.

FKLI is seen within 928.5-942.5. Seller needs to wait for intra-day signals, if any.

FKLI : Recap 915.5/928.5/915.5/+12.5

DJ futs +53p. Regional up 2% to 4%, recharge after 2-day break.

Cash 917.89/1+10p. Off high after new cabinet details.

FKLI reversed Wed’s losses and park itself near the recent high but short of a breakout scenario. Big premium as bulls are upbeat that a firm opening tomorrow could send the mkt towards year-high level (the tip of the upside arrow) Expect profit take selling at this resistance ahead of the weekend.

918-930 is considered range trading tomorrow. Above 7SMA, is still positive market. Fresh up run is seen if FKLI above 930 and cash above 920.

FKLI : morning gossip

DJ +48p, housing sector merger overshadowed economic data

DJ futs +7p. NK +121p/+1.5%. Kos +1%

Danger for shorts. FKLi is considered to have tested short term, 7SMA, support. Therefore any upside from now onwards can be view as the beginning of a fresh leg up.

FKLI is seen range bound first within 913-920.5, with further upside potential if cash breaks 915 immedaite resistance. Feel good factor in the afternoon ahead of new cabinet announcement ?

Breaking News : new cabinet tomorrow ...

Malaysia's Prime Minister Najib Razak will announce his cabinet line-up at 3.00pm local time (0700 GMT) on Thursday, state news agency Bernama reported on Wednesday.

The announcement is being keenly watched to see whether political and economic reformers will be put in place to clean up corruption in government and help revive the country's sagging economy.

Reuters

FKLi : Recap 909.5/916.5/906.0/913.0/-4.5

DJ futs –78p, “stable” in negative side. Regional down 3% as focus on US 1Q reporting season trigger profit take selling. Selling is not due to bad profits warning but rather an excuse to take profits.

Cash 907.87/-12p. Cash fell 6p in the preclosing phase. Probably due to MOC sell in the blue chips…like Tenaga. I do not see any “news”. Isolated thing , I guess.

FKLI already reach short-term support already. If further weak tomorrow, the market is seen for a pullback towards the yellow line. However, sellers should watch out for rebound if 7SMA holds and 913.5 level regains (the horizontal line resistance )

FKLI : morning gossip

DJ -186p/-2% , 1 ) Alcoa lower-than-expected 1Q09 result and 2) GM is seen filing for bankruptcy.

NK -1.5% Kos -1%. DJ futs +6p.

The by-election result BN1 vs PKR2 will no provide any upside momentum. Najib and Mahathir failed to pull voters to BN favor yet.

FKLI is seen near 910 and may challege 7SMA support. 904-917 for the start. Will intra-day weakness shift gear to a negative mkt in the coming days ? Like it or not the market is sill positive if above 7SMA.

FKLI : Recap 920.5/927.0/912.5/917.5/-9

DJ futs –50p. Regional mixed, all off thier days low.

Cash 919.84/-4p, above 920 was just a joke.

Despite early selling pressure, FKLI reversed it intra-day sell signal in the final hours of trading. Besides regional strong, I suspect the market is pricing in the possibility of BN’s strong victory in today’s by-election.

Basically, chart outlook remains the same as Monday, high and low almost identical, with a weakening momentum but no pullback phase yet and plan for a run towards year-high remains.

Technically, since the market stuck inside 912.5-928 range for 2 days, go for breakout strategy. Upside arrow points to the year high levels

FKLI : morning gossip

DJ futs +1p. NK and Kos marginally higher at cross boarde line.

Time for a pullback ? Will have to wait for intra-day signal as daily basis still very strong as of yesterday. Above 920, still strong probability to visit year-high.

Sell on weakness. Longs target is up to yearr-high level for this week. Late bulls might want to wait for a pullback first.

FKLI is seen softer but near 920++.

FKLI : Recap 912.5/928.0/912.5/926.5/+16.5

DJ futs +33. Regional up 1% led by HS +3% on banking stock rally.

Cash 923.77/+16.76, making a 5-day winning streak of 54p.

Despite some sign of a pullback, it did not materialise. FKLI found bargain hunting power in the last hour of trading. It reversed Friday's toppishness and back to bullish sign. Above 928, the year highest closing, is immediate buy targeting year high of 942.5.

Keen sellers would need to scan for intra-day sell signal if market trades higher. Daily remains positve above 916.

FKLI : morning gossip

DJ futs +40p. NK +186p/+2%. Kos +1%.

If the market can regain last week high, another rally can be expected towards 2009's high.

FKLI is seen opening around 916.

Economic data ahead....: US focus

Tues : Alcoa quarterly result ( est -57 cents per share vs -44cent 1Q08)

Thus : Retailers March sales

FKLI Recap: 916.0/916.5/902.0/910.0/-3

*DJ futs +1p.

*Regional on profit take pressure but absorbing well. Just off highs but positive

*Cash 907.01/+2p. Weekly : +2.5%

*FKLI quiet on profit take but finished near the upper intra-day range as DJ futs reversed losses after 5pm. Weekly: +2.7%

*FKLI is situated at double-top area, meaning a crossroad point for a possible breakout to year-high zone, 935++, or a pullback first towards 7SMA. Which one first?

*No immediate buy signal below 913. 900-913 range play. Below 900 is a strong sell signal. Shorts should get out if 913-916.5 is breached on Mon.

FKLI : morning gossip

DJ 3 in a row. +216/+3%.

DJ futs -8p. NK +2%. Kos +1%

Cash probably set its eye on 920 if a rally happens again. RM gain 1%....foreign buying stocks?

Anticipating a strong mkt first, FKLI is seen at 910-930 range. Keen sellers will need to seek out any weakness along the way. If profit round happens, downside risk is 900.

Given the premium, FKLI is seen start slow with an opening firm around 915.

FKLI : Recap 888.0/913.5/888.0/913.0/+33

DJ futs +135p at 5.15om. HS +7% on bank rallies. The rest from +2% to +5%

Cash 905.07/+21P/2.4%.

Broad rally on 1) better-than-expected US economic data, raising expectatiosn for another positive-surprise coming Fri data. 2) G20 pledges new accouting rule.....from mark-to-market to book value??.

FKLI surged above 900 without looking back. The market is at a double-top level and could well

retest the year-high level first, especially if mkt maintains abvoe 900, before a pullback towards the uptrend line.

FKLI : morning gossip

Wall Street extends the recent advance after better-than-expected manufacturing and housing reports. New quarter, new rally. DJ +152p/+2%

DJ futs -8p. NK +167/+2%. Kos +1.7%

FKLI is seen at 880-890 range in initial trading. Opening is pegged near 886. Can the market sustain above 890 today is the Q.

Breaking News

Malaysia's incoming PM to outline policies Friday .

Malaysia's incoming premier, Najib Razak, said on Wednesday he will outline his economic and political policies on Friday in his first address as prime minister.

Najib, who will take over from Abdullah Ahmad Badawi, said he would be sworn in on Friday upon the king's consent to the appointment.

(Reuters)

My take : effect on KLCI > Market is seen higher ahead of Najib appointment, and momentum will stay if BN wins all the 3 by-election. If losses all, profit take first.

FKLI : Recap 872.0/883.0/871.0//880..0/+4.5

DJ futs mostly around -80. Asian equity strong on further recovery road ahead of G20.

Cash 884.18/+12. Only bullish if above 890.

FKLI range within 870-880 and heavy at 880s level today. While still short of a bull mkt, a good start to see 880-892 if mkt firms tomorrow. To see 900 and higher, cash must breakout above 891. Support remains the same.

Market Perfomance in March and ytd%

FKLI : morning gossip

DJ +87p/+1%. DJ futs -100P. NK +12P

FKLI is seen within a firm range of 866-878.