FKLI is trading to 4 pt discount and I think it is par level. Over the last few mths, FKLI shud be trading around 4-5 discount prior to closing due to convergence.
To go outright is not profitable as you do not know how the institution would rollover their contract. Charts do not work so well as these bearish market.
Wait for position setup for Dec contract on Wed or Thur - Dec 1 or 2.
Rgds,
-martin-
Monday, November 28, 2005
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