Tuesday, July 12, 2011

Fkli wrap..."spaghetti" sales pressure.....


Fbm.fkli suffer double blow - bearish external and weak tech outlook. EU debt jitters all day. Plus, further blow in PM after Moody raises red flags on Chinese firm. HS extends AM -1% to -3% in PM and SH -1% to -2%.

EU mostly -2%. Italy -4% in early Asian hours. DJfuts -100., off lows of -120. Euro skids -1.5% vs US$.

Fbm.fkli are short term tech sell targeting 60-65 range this week. Below 1580 is bearish

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