Friday, October 22, 2010

Fkli wrap...+5.5 this week.. but toppish, cautious still


Not only fbm.fkli fail to make an impression at 1500, both also struggle at support level. Toppish in AM on GENTING, weaker in PM after Europe produces a -0.5% performance, dragging both DJ ( -10) and HS ( -131) into –ve again.

Fkli very thin vol, no incentives to test 1500 amid weak fbm tone after the first 15 mins. Profit takes continues.

Fbm.fkli finish the week with gains but tech outlook is not so comforting – no momentum or “desire” to maintain a strong “feel” targeting record high lvl yet. A sideways condition…1470-1500 jinx ?. ..no action next week ??? Likely so if mkts opens lower on Monday. ..bad for biz!

While still at the upper band, trading sell, if below 1495, till a crossing and closing above 1500.

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