A continuation of bullish tone as 2Q09 profits continues to "better" estimates. Financial stock lead prices higher. Fbm/FKLi hit 11-month high as fresh technical related buying joined the game. Morning was express train, a 1 or 2 stopover but in the afternoon the mkt was riding on bullet train...no stop.
Players chase the mkt for fear of missing the train to a point where sustainabilty become an issue.
Fkli hit high of 1110 after the July09 jumped 7 points in the preclosing phase.. making it the largest premium over fbmklci this year. at 13 point
At uncharted zone this year right now, so it can be volatile. An uptrend mkt..so buy at support lvl...buy on strength is for big risk taker....for fear of a swift pullback.
Sell-on-weakness, say below 1100. Selling is for intra-day n trading only.
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