4:41 pm - FKLI shud close at 1178/1179 level !

2:42 pm - FKLI hit 1180 high today !

There's a lot of resistance 1181-1186 level.

11:38 am - Market Report by Bill Wermine

Dear Traders,

Despite the recent 20 % correction on the Shanghai Index, the index Friday found support at the June 09 pivot high.

It appears the Politburo wants to knock the speculators out but not engineer a bearish trend. They may instruct their 200 billion soverign wealth fund to buy bank stocks.

China's liquidity problem is an overabundance of liquidity, not a squeeze.

You may buy FXI on a pullback to 36 on climactic panic selling/test of supply with a risk to 33.75 and a target of 46.

Most of the bears and pessimists are frustrated so they need to get a magic marker and etch the word LIQUIDITY on their foreheads to be constantly reminded what drives the world markets currently.

When waves of selling engulf the market and drive stock markets lower the selling suddenly dries up and market prices begin to rebound again with no apparent news. The answer is liquidity.

This applies to the KLSE as well. I know many of you are pessimistic and are looking for reasons to sell- but liquidity overrides the uncertain fundamentals. Unless we see wide range up bars on huge volume (Hidden Potential Selling) as insiders use this to offload- better you should stay the course. Keep your quality shares. Maintain risk levels.

Fed chief Bernanke told central bankers gathered in Wyomings Grand Teton Mountains to be careful about withdrawing liquidity from the market too soon.

Have a profitable

9:15 am - FKLI gap up higher due to DJIA breaking new high !

Another bull in the making ???