Monday, July 04, 2011

Fkli wrap...AM bulls suffer black eye...fbm profit taking in PM




Fbm trends lower in PM, back to the day’s mid point for a lack of EU gains, maybe. EU +0.1%. Regional steady in PM, off AM high but keeping most of AM gains, avg +1.5%

Fkli defensive play after dipping under 90 in early PM trades, triggering some sellstops under 90 n 86 along the way. Earlier in AM session, buystops noted at 90 n 93.

Technically, fbm.fkli remains in bullish zone despite an ugly looking candle today. Cautious but 1600 remains a target this week unless another ugly candle tomorrow.

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