MarketWrap : ah long again..unexpectedly

Regional reversed early losses and posted strong gains in PM on “Abu Dhabi will provide $10b financing to Dubai” news. Regional +1% to 2%. We up 0.5%.

The impact was not greatly felt here with fbm stuck near 60, unchanged, till preclosing stage. Both mkts were quiet. Then, all last minute rush! – 4.30pm onwards. First, Fkli hit high on buystop at 61. Then, Fbm shot more than 5p in preclosing stage to create day’s high, matching fkli level at 65.

Technically, major improvement- above 7SMA and therefore reducing a breakdown scenario. Don’t expect a strong run yet, as cautious stance remains especially with all the last minute push. And the Q is whether the mkt has upward momentum to really face major resistance lvls. From 50 to 80.

FKLI : morning gossip..60++

DJ +65

8.30 : DJ futs -6. Regional firm , flat, +0.1%, digesting a stronger dollar effect

Fkli push and pull will continue....55-60 or 60-65 depends on fbm. fkli will start near 60 cautious and more upside if fbm breaks above 62. if fbm below 60, fkli will likely to stuck in55-60 range.

US economic data this week....Fed decision on R% ( consensus no chg), housing data ( est +575k unit). both on Wed. As usual, Thu's weekly jobles claims

MarketWrap : slow..below 2000 lot...

Fbm.fkli hardly make any move in the PM session. Record low daily volume. Despite regional positives, buyers continued to stay sidelines, since Monday. Today recouping some losses from the early part of the week The mkts lost about 10p this week.

It does look like bottoming out from 50 but momentum is very weak, technically still negative-bias. Below 50, is fresh trading sell next week. otherwise, expect the mkt consolidate within 50-70. No strong buy signal seen until 7SMA crosses back aobve 30SMA.

FKLI : morning gossip...60++...then 60-65 ?

DJ +70, Us and Europe was 0.5% to 1% higher, "as improved readings on trade deficit and housing market reassure investors about the economic recovery"...CNN


8.30 : DJ futs +17. NK +100. Kos -5.


FKLi is seen near 1260 first, waiting for fbm to open before deciding whther to trade within 55-60 or 60-65. Mostly likely 60-65 as fbm is "expected to reach for 64++ as a first move.

Above 57, is intra day buy

MarketWrap : still very weak...below 60 no buy

Did try to reach higher in early trading but 60 proved strong resistance.

Fbm snapped a 4-day losing streak,..supported at 55 but did not garner enough momentum yet to break 60. Without a very strong external, fkli fared poorly on weak technical outlook…near 50. but crawled back in late trading thanks to the wide discount with fbm.

50 support but still no strong buy signal yet – below 60 plus 7SMA cross below30SMA.

FKLI : morning gossip ..same 55-60

DJ +50 on weaker dollar they said.

8.35: DJ futs +10. Regional flat and looks like a very slow day. Commodities recovery mode in early Asian hours.

FKli is seen firm but no upside surprise unless fbm can break 60 resistance. And given recent fbm coma state....only can pray.

Can opt for long if fbm stays above 55.

FKLi below 58, still a sell mode.

MarketWrap: reversal daily candle..meaningful ?

Fbm clsd at daily low fkli clsd at daily high! Fbm again finished at low after a 3p preclosing dip.

Regional weak. Fbm holding quite well but weak external means no upside momentum. Mkt found support at last week lows but still require bullish external to jump start buying interest. Internally, sentiment is very weak or "when is buyer"

Resistance is lowered to 60 from 70. Fkli’s candlestick is a reversal candle. Seller should watch out, especially if mkt still above 50 tomorrow . Maybe 50 is “the’ support this week and a bounce towards the uptrend line is expected. Fbm candle still very much in favor of bears.

Above 60, no sell. Sell at resistance instead.

fKLi : morning gossip....1255++

DJ -100 investors eyed weak global markets, a rising dollar, falling oil and gold prices, and some disappointing profit news from 3M, McDonald's and Kroger...CNN

8.30 : DJ futs +4. Regional -1% to -1.5%. Selling mode across the board first.

Fkli's 60 support looks history today, turning to 50. Below 60, sell mode. Intra day buy possible is opens to low.

MarketWrap : neutral day but breakdw danger looming...

Quiet day. Negative sentiment continues….fail to distant from support lvl. Fkli remains within yesterday’s lower lvl but avoided any fresh breakdown. Fbm finished at intra-day low following a 4 points dip in the preclosing stage. Therefore, below 30SMA.

Fkli hanging there but the danger of breakdw remains. In fact, fbm gets weaker. Fbm very sluggish for the past 5-day..like missing some usual buyers. Fkli did not respond to fbm preclosing selldown.

Generally, below 70 this week…no need to get into long. Below 55, strong trading sell signal.

FKLI : mornign gossip ...near 60 no direction

DJ flat, gave up early gains, +1.21p.

8.30 DJ futs +18. Regional softer, near 0.5%. Wondering whter fkli will do 55-60 or 60-65 range.
Probably 60-65 if fbm flat or higher. fbm 64-68 means no mkt direction...sell if 64 breaks.

Fkli below 60, a risk of a sharp pullback is great. Upside is seen limited at 65.

MarketWrap: no more ahlong....trading sell

When external factors were bullish like Fri, it failed to ignite buying mode, so mixed external factors today proved fatal for bulls. Fbmklci again struggled at 70 in AM session and succumbed to selling pressure in PM after Europe slide almost 1%.

Technically bearish day. The end of range trading and the beginning of a trading sell mkt, targeting the recent low near 1230++ ? Yes if mkt stay below 1260. Short term long should exit first and wait.....

Below 7SMA is a sell mkt. Below 1255 is another fresh trading sell signal.

FKLI and US data week ahead... 60-80

expecting an upside week, betting that 60 will hold as a support as fbm remains near 70 but slow move...moving in n out of 70 first and buyers will only emerge if fbm breaks above 74.

in the mean time...trial-n-error not much of direction with averages flat. Would love to see 7sma/pink crosses above 14/yellow and 21/blue SMA - bullish sign.

no major US data till the Thu's weekly jobless claims. Highlight is Fri's retail sales data ( est +0.5%)

MarketWrap : flat for the week...ends negative bias

not much today. quiet within expected range. fbm manage to recapture 70 after the Dubai's shock but stagnant thenafter at 70.

fkli ended in negative teritory -red area but still within a neutral band, 50- 80. waiting for the next move, hoefully up, as still ahlong.

MarketWrap : instead 80..near 70 ..blame FBMKLCI

At lost for words looking at the selling in fbm all day long, despite such strong external factors. Against the rest of the mkts, Fbm continued to suffer profit taking at 70s – 2 days in a row. Fbm clsd at 72 due to 4p-push in the preclosing stage - mostly below 70 the day- but fkli bulls already injured by then.

Conflicting signals made fkli stuck in a tight range but ended at lower end on technical selling. No danger of a breakdown yet but could have been better for bulls, near 80. Looking at the chart, its look like the tug-of war will continue for days – SMAs all flat, meaning no direction.

Tomorrow 65-70 or 70-75 ? Surprise me with a big move.

FKLI : morning gossip....70-75

DJ -19 , profit taking.

8.40 : DJ futs +11. Regional off to a strong start NK +1.6%. Kos +1%.

Enough to support our mkt above 70 but not major boost. fkli is seen stuck at a similar range of 70-75. Maybe take above 75 is fbm can break 74.

MarketWrap : ahlong again....1300 coming!

Testing 70 water. Daily candlestick does not look good but the fact is, price is above 7SMA, green area=positive tone. Fbm surprised with a 7p gap-up that led to pullback thereafter causing jitters in fkli. Slow day, feel good factor on commodities related stock but not so much aggressive buying yet. Maybe, taking one step at a time.

Near term support is raised from 30 to 50 while upside potential increases but still within the horizontal line ranges. Generally, above 70 is a buy market.

FKLI : morning gossip...68-75

DJ +126/+1%, Wall Street advances on Dubai debt relief, better-than-expected housing and construction readings, and talk of a GE-Comcast deal. CNN

8.30 : DJ futs -7. NK +0.35 Kos +1%

Fkli will have a chance to break 70. It looks like a trading buy from start but stuggle near 73-75 is expected with fbm playing catching up. Obejective is to stay above 70.

Above 68, is trading buy.

MarketWrap : strong bounce..more upside seen

Regional N Europe strong on 1st day of Dec as banks rebound from ‘Dubai shock”. As usual, strong commodities also helped lift sentiment.

Market here mostly rebound mode trying to reverse Mon’s negative. Succeeded. Above 30SMA, reducing a pullback risk towards 30++ for another day while waiting for more +ve to push it back to a technically +ve area.- green area

For trading cautious remains, below 7SMA or 1270 but looks bottoming out if crosses above 7SMA, targeting the upper range of 60-90 band. Get ready to enter long again. Based on SMAs, the climb will be a slow one this week, until SMA crosses up.

BMD : monthly data

At a glance : Market perfomance in Nov09

Nov09 best and worst- 14 is the lucky number


2009 best and worst

US/Europe mthly % chg in 2009

Commodities mthly %chg in 2009