Wednesday, August 18, 2010

Morning start...fkli firm 85-90 fcpo weak 2640-50

DJ +100 on strong earnings from Wal-Mart and Home Depot, reversing some of pervious weaker retail data sentiment. Europe near +2%.

8.15 : DJ futs +18. Regional nearing +1%. A quiet day for commodity, flat overnight, cautious.

fkli : with expectation that fbm will test 84 lvl, fkli is seen steady within 85-90 range,topping 90 today but do not rule out kneejerk toward 1400. Bullish if fbm >1380. bulls are seen ready to take profits for weekend but will gauge fbm moves.

fcpo: SO flat, cautious. Not helping fcpo bulls. Internak tech weakness will add pressure with price at critical short term support lvl. Above 2640 is intra day buy but only a crossing above 2670 will put bulls in better seat. Sell on weakness today.

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