Wednesday, May 04, 2011

Fkli wrap...selling on breakdw fear amid weak tech




Equity weak day as falling miners and property drag HS/SH near -2%. Europe -0.3%. Fbm.fkli manage to recoup almost 50% of losses to finish at mid range on profit take buying after Dj futs gains at +20 from -20 in late Asian hours. But technical outlook points to a danger of a breach below recent low near 1510 therefore fkli stays at wide discount. Until 1510 is breached, still sideways play.

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