Thursday, January 13, 2011

Fkli wrap.. near record high...profit take

-another slow day, firmer on DJ, HS gains but not much fanfare. DJ futs lower, -10. Europe mixed.

-same pattern like yesterday strong morning and +2p preclosing push fbm back up 70. Upside looks reluctant, maybe GLCs have no intention for a run this week, saving energy for 1600 next week if mkt remains above 70 tomorrow

-fkli struggles with premium but remains hopeful to see 80 tomorrow. But looks like 70-80 sideways range. Above 70 is bullish tone.

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