8:34 pm - My newsletter recommends LONG position for FCPO if it break 3170.

Another reasons for LONG FCPO is Japanese candlestick - Bullish Engulfing pattern on EOD.

5:22 pm - FKLI closed lower but KLCI closed high 1470.77

Last minutes buying by big players to close the KLCI higher. TG signals were to short the market. However, KLCI closed higher.

Mix signals. Abandon short position at 4.50 pm. No position. Await tomorrow.

4:02 pm - Hang Seng closed lower better than expected.

FKLI wash out the long position trader and maybe it is forming a double top.

3:32 pm - What happens to KLCI last year during the first week of Jan 07 ?

After the big buying by the big players, the KLCI moves sideways for a while before the big move uptrend.

Will we see this trend this year ?

With the election coming, the probability is high.

The FKLI market will corrects i.e. to move sideways or downtrend to wash the long and short players before it pushes up.

2:47 pm - All my MACD indicators has turned downward.

In short term, FKLI is bullish. Resistance at 1458/1460.

1:11 pm - FKLI turn bearish and selldown. KLCI cud not hold and turn negative too.

We are out of our long position. Support at 1457 broken. Sad ! But it is not a short trade yet. FKLI may move sideway now.

11:53 am - It has to break 1470 to go higher.

Support at 1457 for today.

11:24 am - FCPO continue to move downtrend.

After support at 3120 being broken, FCPO continue downtrend. Daily FCPO has 3 down bars.

9:43 am - FKLI holding nicely at 1458/1460. TG has buy signals this morning.

Our stop loss is tight for any FKLI reversal.

9:17 pm - Stock futures rise ahead of jobs report

Stock futures rise ahead of jobs report NEW YORK (AP) - U.S. stocks headed toward a modestly higher open Friday ahead of the Labor Department's December employment report, which Wall Street hopes will point to consumer spending continuing at a healthy pace. The department's report on payrolls and unemployment, due at 8:30 a.m. EST, has been a focus of investors for weeks as they try to determine whether the economy will continue to benefit from robust consumer spending even as sectors like home construction, mortgage writing and manufacturing slow. Wall Street is concerned that areas of weakness could puncture growth and even tip the economy into recession if consumers can't depend on a solid job market. Economists predict a smaller gain in payrolls in the final month of the year than in November, and expect the unemployment rate to have risen to 4.8 percent from the previous month's 4.7 percent. Further clarity on the health of the economy could come Friday when the Institute for Supply Management releases its December index of non-manufacturing activity. Economists predict slightly weaker expansion than in November. Ahead of the jobs report, Dow Jones industrial average futures rose 33, or 0.25 percent, to 13,176. Standard & Poor's 500 index futures rose 3.60, or 0.25 percent, to 1,462.30, and the Nasdaq 100 index futures advanced 1.75, or 0.08 percent, to 2,078.00. Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.91 percent from 3.89 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell. Light, sweet crude fell 21 cents to $98.97 in premarket electronic trading on the New York Mercantile Exchange. Oil touched $100 per barrel this week for the first time, stirring concerns about inflation. Overseas, Japan's Nikkei stock average closed down 4.03 percent after being closed for a long holiday. Britain's FTSE 100 rose 0.98 percent, Germany's DAX index fell 0.32 percent, and France's CAC-40 rose 0.11 percent. Copyright 2007 Associated Press. All rights reserved. This material may

5:11 pm - FKLI closing all time high @ 1469

It broke last high @ 1458 and the cash volume is decent -> 941 mil.

Let's see if Monday Jan 7, 2008 will continue.

DJIA futures right now is +24 pts.

What happens DJIA is up +200 pts ? FKLI will gap up and selldown.

2:47 pm - A lot of short selling get "creamed" today !

Many of short seller put their stops at 1459/1460 for their stop loss. The FKLI just shot up and take their stops.

Look at the gap at high 1462.5

12:22 pm - FKLI hits all time @ 1458.0 and want to go higher.

This is the 3d time attempt to test this. Maybe this may just work.

11:04 am - FKLI cross up and moving up and went long at 1440/1442

The fund managers did most of the work today and push all the CI component counters, so the FKLI moves in tandem.

5:26 pm - FKLI holding strongly at support 1427.0

If the MACD cross up tomorrow, we wud go long then.

5:21 pm - Despite heavy selling in the regional market, KLCI just will not go down.

Strong support by palm oil counters. If this persists with crude oil hitting above $ 100, KLCI will rebound to go higher.

Cash market just down marginally -0.3 pts.

1:05 pm - Here is a FKLI daily chart with 1414 support level

12:59 noon - FKLI trendline support at 1414/1413

This support level at 1414 coincides with the last selldown on 31 Dec 2007. Look to buy back at this level.

10:06 am - FKLI is confirmed on the bearish side when DJIA falls over 200 pts.

FKLI market gap down.

5:45 pm - Fund mgr "did not come to work today"

Volume is low today at 592 mil. If FKLI closes below 1432, this wud be bearish and need break up to 1450 to trend upwards.

5:38 pm - KLCI has a evening doji star - a bearish reversal pattern.

The market is turning bearish with double top forming.

3:25 pm - Instead of fund mgr/big players are buying, they are unloading and selling into the market.

Regional markets are lower too. The bullish move is over now and we will be moving sideway or down until FKLI touch back to 1453.5

10:24 am - FKLI starting to move up due to Hang Seng turning positive.

9:30 am - FKLI has closed this morning gap indicates short term bullish

Look at the tail of 31 Dec 07 for FKLI Jan. The low was 1414.0

10:16 am - DJIA falls on the last day of the year

Stocks fall on last day of 2007 NEW YORK (AP) - Wall Street ended a painful year with another steep loss Monday as investors glumly anticipated that 2008 would bring more of the uncertainty and turbulence of 2007. The Dow Jones industrials fell 101 points, the latest in a string of triple-digit moves that became commonplace in the just-ended year amid a continuum of bad news about housing, faltering mortgages and shrinking credit. Thanks to a big first-half advance, they managed to finish 2007 with a respectable increase of 6.43 percent -- not as large as the 16.29 percent jump in 2006, but a better performance than the modest loss in 2005. The Dow's annual gain came even after it posted its worst fourth-quarter drop in 20 years, amid billion-dollar losses at the world's biggest financial firms and falling spending by consumers whose budgets have been crimped by record-high oil prices and declining home prices. "Considering all that's going on, the market really acted pretty well," said Todd Leone, managing director of equity trading at Cowen & Co. It's tough to say what the primary market driver of 2008 will be, but the stock market faces a slew of threats: more adjustable-rate mortgage resets, a still-tight credit market and the possibility of accelerating inflation. But Leone said the fourth-quarter earnings season in January should shed some light on how U.S. companies are surviving the recent slowdown and credit crunch. There was more downbeat news on housing Monday. The National Association of Realtors said November existing home sales rose 0.4 percent to an annual rate of 5 million -- the first rise in nine months. However, sales are 20 percent below where they were a year ago, and the median existing home price has dropped 3.3 percent over the past 12 months. Falling home prices have made it hard for struggling homeowners to refinance their mortgages, and the slump in construction activity has hurt homebuilders and other housing-related industries. Still, there were some slivers of optimism Monday. The U.K.'s Observer newspaper reported Sunday that Merrill Lynch & Co. was in talks over the weekend to line up capital from investors in China and the Middle East in exchange for portions of the Wall Street firm. Merrill, like many other financial houses, has seen its portfolio lose billions of dollar in value due to misplaced bets on mortgages. And as Citigroup Inc., UBS AG, Morgan Stanley and Bear Stearns Cos. have done, it has turned to investors in Asia for much-needed capital -- Merrill has already gotten $4.4 billion this month from a Singapore fund, which bought a 9.9 percent stake in the U.S. brokerage. The Dow fell 101.05, or 0.76 percent, to 13,264.82. The blue-chip index remains below its Oct. 9 record high of 14,164.53, at which point it was up more than 13 percent year-to-date. The Standard & Poor's 500 index and the technology-dominated Nasdaq composite index also declined Monday, but both posted annual gains for the fifth straight year. The S&P 500 index fell 10.13, or 0.69 percent, to 1,468.36, to end 2007 with a gain of 3.53 percent. It had reached a record close of 1,565.15 on Oct. 9. The Nasdaq fell 22.18, or 0.83 percent, to 2,652.28, to finish the year with a 9.81 percent gain. Despite the market's volatility, this was the best performance for the Nasdaq, still well below its tech boom highs, since 2003. Government bonds rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slid to 4.03 percent from 4.12 percent late Friday, and is down nearly 17 percent for the year. Declining issues narrowly outnumbered advancers on the New York Stock Exchange, where volume came to a light 1.15 billion shares. 2007 was a remarkable year on Wall Street. The market began the year continuing the rally that propelled the Dow above 12,000 for the first time in October. Then, in late February, came a reminder that stocks were capable of turning tail and plunging -- a skid on China's stock market and an ominous economic outlook from former Federal Reserve Chairman Alan Greenspan sent the Dow down 416 points in one day. That panic didn't last long. In April, the Dow barreled above 13,000 for the first time and then glided past 14,000 in mid-July. But in late July, however, the market realized that the ongoing slump in housing, and a rise in mortgage foreclosures due to resetting adjustable-rate loans, was taking a toll across the credit markets. Though the housing market started teetering as early as 2005, few people anticipated how much the downturn could affect the global financial system. Mortgages given to borrowers deemed "subprime" comprised only about an eighth of the $10 trillion U.S. mortgage market -- why would that rattle the world markets? The problem was, these pieces of debt were chopped up, repackaged and woven into larger fixed-income instruments, on which banks and other investors made billion-dollar bets -- bets that were extremely profitable during the housing boom, but calamitous when borrowers couldn't keep up with their mortgage payments. When one slice of the instrument defaulted, it pulled the whole thing down with it. Investors bailed out of anything tied to mortgages, and soon Wall Street discovered that financial institutions in the United States and overseas were holding billions of dollars in assets that were losing value by the day. The biggest names on the Street -- Merrill Lynch, Citigroup Inc., Bear Stearns Cos. -- announced billions of dollars in writedowns. Merrill and Citi lost their CEOs, and several financial firms sought out billion-dollar investments to clean up their balance sheets. In the midst of this turmoil, the credit markets all but seized up, and all these interconnected events pummeled stocks. The Dow suffered triple-digit drops, recoveries and then drops again as Wall Street stumbled through months of volatility reminiscent of the terrible days after the 2001 terror attacks. In August and September the Federal Reserve began to act, with interest rate cuts and injections of liquidity. It helped for a while, and in October, stocks were rallying again taking the Dow to another set of record highs -- only to succumb again to fears about the unknown extent of the credit mess. Wall Street enters 2008 with that same concern, not to mention oil's surge this year of about 60 percent to nearly $100 a barrel, and the U.S. dollar's tumble to record lows against the euro. On Monday, the dollar rose against most other major currencies, gold prices fell, and crude oil prices slipped 2 cents to settle at $95.98 a barrel on the New York Mercantile Exchange. "We've seen the return of volatility. I think that will be around for a while, and will govern trading for the new year," said Scott Fullman, director of investment strategy for I. A. Englander & Co. "Stock selection and strategy will play a very important part in the success of anybody who is trading going into the new year. This is not a time where you throw a dart at the board." In 2007, the technology, energy, industrials and healthcare sectors did well, while the financial industry and small-caps -- usually fledgling companies that rely heavily on loans to grow their business -- lagged. The Russell 2000 index of smaller companies fell 5.73, or 0.74 percent, to 766.03 Monday. The small-cap index finished the year down 2.75 percent.

5:12 pm - FKLI Jan doing a year end wash back to 1414.0

If this is a wash, then we have a good start for 2008.

If this is a true for reversing the up trend, then we have a down trend for the first week of 2008.

Look at the tail.

10:03 - FKLI Jan gap up to cross the resistance @ 1444.5

Technically, FKLI Jan has touch the last high @ 1454.5. Currently it is trading 1452/1451.5

9:31 am - KLCI is certainly bullish. Vol is steady and not high is good for breakout.

9:59 am - FCPO will trend higher next week as it track against soybean.

Soybeans prices reach 34-year high NEW YORK (AP) - Soybean futures fell Friday, pulling back after touching a 34-year high on expectations for robust exports next year and continued strong demand from China. Gold prices climbed almost $11 an ounce, boosted by strong oil prices, weak economic data in the U.S., and world political concerns following Thursday's assassination of Pakistani opposition leader Benazir Bhutto. Wheat futures dropped sharply and oil prices fell. Trading was light in most financial markets due to the holiday season, and that tended to exaggerate many price movements including the turnaround in soybeans. U.S. exporters have already sold roughly three-quarters of the soybeans the Agriculture Department predicts for the whole marketing year, which ends in June 2008. To make up for dwindling inventories, analysts say farmers need to plant more soybeans than they did last year -- when an ethanol boom led farmers to favor planting corn acres over soybeans. So far this year, soybean exports are running at 735 million bushels, or about 74 percent of the USDA's total estimate of 995 million bushels. Last year, the farmland dedicated to soybean plantings was reduced by 15 percent. Feeding Friday's record was continued strong demand from China, the world's largest consumer of soybean oil, said DTN commodities analyst Elaine Kob. "It's really been an impressive week for soybeans," she said. A bushel of soybeans for March delivery settled down 8.5 cents at $12.23 a bushel. The price had jumped to $12.48 overnight, beating June 1973's closing high of $12.10 but still shy of that day's trading record of $12.90 a bushel. Wheat for March delivery fell 26.25 cents to $9.15 a bushel. March corn rose 2.5 cents to $4.5475 a bushel, while March oats traded flat, settling at $$3.09 a bushel. Gold prices advanced on the precious metal's appeal as a safe haven investment during political uncertainty. Bhutto's assassination in a suicide bombing has stirred investor worries about further instability in the region. "The geopolitical background continues to unnerve a lot of people," said Jon Nadler, senior analyst at Kitco Bullion Dealers, adding that gold has "the potential to close out the year at its very peak." The dollar's steep drop against the 13-nation euro this year has been a major driver behind gold's advance from less than $650 an ounce in January to a 28-year high near $850 an ounce in November. Gold futures are up nearly 32 percent this year, Nadler said. An ounce of gold for February delivery added $10.90 to settle at $842.70 on the New York Mercantile Exchange. March silver climbed 0.077 cent to $14.895 an ounce, and Nymex copper for March delivery fell 6 cents to close at $3.0720 a pound. The dollar fell against the euro and yen in late New York trading, but strengthened versus the pound. Hampering the rise of gold and other commodities was a government report showing sales of new homes fell in November to their lowest level in more than 12 years. The Commerce Department said new home sales fell 9 percent from October to a seasonally adjusted annual rate of 647,000. Copyright 2007 Associated Press. All rights reserved. This material may

5:09 am - KLCI boleh ! Last minutes pushed up by the big institution !

KLCI boleh ! and ready for Jan 2 rally.

FKLI Jan closed with a upthrust. Let's see how Monday 31 Dec wud open with effect of DJIA tonite.

4:10 pm - After Hong Kong Hang Seng market closes at 4 pm, FKLI will set its goal for higher.

Not influenced by Hang Seng market, the Malaysian "Tai Ko" can move the market up with relative easy effort.

12:54 pm - FKLI is holding up and looking to break upside.

9:29 am - Market reacting to Bhutto's assassination

However, FKLI and KLCI holding nicely.

5:43 pm - FKLI trade higher. Our long position is in nicely

Took the long trade after it broke up.

12:21 pm - FKLI broke out nicely to 1435

Look like we are in long again.

9:44 am - FKLI Jan 2008 contract break out for the 3rd attempt

Let's see if we get a bullish year end closing. Here is the 15 mins chart on the breakout.

2:36 pm - FKLI Dec 2006 - Modest uptrend until first week of Jan 2007

11:31 am - FCPO - 26 Dec 2006. Today based last year.

FCPO had a good run on 26 Dec 2006. It hit a new high on that day. This nice uptrend during the last 2 weeks of Dec 2006 is due to the flooding in the palm oil estate.

10:58 am - FCPO export Dec 1-25 down -0.8%

Despite negative news on FCPO, FCPO continue to power higher. Last high at 3068 and today's high at 3064.

9:53 am - Go Long if break above 3018 resistance for FCPO

If you have been reading my CI/CPO newsletter dated 24-28 Dec 2007, there is a recommendation to go long if break 3018 resistance.

The FCPO is in an uptrend on a daily basis (check out 240 mins chart posted earlier).

Trade FCPO with a wider stop at least 40-60 pts on a daily basis.

Here is a snapshot of my newsletter dated 24-28 Dec 2007

9:35 am - FCPO is trending nicely & closed 3030 last Monday.

Crude oil has risen and soy bean oil has broken to new all time high.

Look at the 240 mins chart of FCPO -March 08 contract.

3:30 am - FCPO is trending nicely along 240 mins chart.

Here is an opportunity to go long at 3015/3016 on a 15 mins entry using breakout as your entry approach and using 240 mins as stop. Trail your stops on the 240 mins as FCPO break higher.

On my CI & CPO weekly newsletter, weekly entry is 3,018 on the long position using daily chart.

12:21 am - FKLI broke higher to 1427.5

It is treading nicely along the Bollinger Band. Can you buy now ? You can buy on the basis of EOD chart. Today is 5 days line change. You are looking at 25-30 pts stop if you are trading daily chart.

However, on the daily chart, FKLI is currently trading at 61.8% (downtrend). If FKLI can break higher above 61.8%, FKLI can trend higher. The 61.8% is a resistance.

4:51 pm - FKLI is trading in bullish terrority.

FKLI is trading at this point +12 pts premium.

Wait for DJIA closing tonite. If it is good DJIA closing > 150 pts, MOnday is selling day i.e. to take profit.

If DJIA closing low to slightly high, Monday is a day for going long.

As forecasted, when all the fund mgrs are on leave due to holiday seasons, they run the market up.

11:49 am - Looking for a re-entry to go long to ride this mini year end rally

On uptrend, FKLI wud retraced back to 38.2% or 50% retracement.

So if this top @ 1406 for today, then look to buy back at 1390.8 (38.2%) or 1386.0 (50%).

10:14 am - FKLI rebounds after 1 day of holiday.

As DJIA not falling too much and the regional markets are recovering, so too is FKLI.

Looks like FKLI has taken out the last high at 1397 with its today's high at 1398.5. On the intraday, FKLI is forming a double top. This is a strong resistance. If the top at 1398.5 is taken out, think to go long.

5:12 pm : FKLI closed +3.5 pts due to last seconds buying

It was a see-saw market for FKLI, morning up and afternoon selldown to 1387 prior to pre-matching.

DJIA futures is -10 pts.

With the public holiday Hari Haji, let's see how DJIA is going to work out.

9:27 am - We were long yesterday as KLCI had 5 consecutive down bar

There were a lot of short covering yesterday i.e. for those who shorted the FKLI in the past few days are covering their short position by going long or buying.

There will be more short covering today and these "shorties" are going long - fueling to the reversal of FKLI.

10:07 am - FKLI is about to cross up.

Be ready to go long.

9:55 am - FKLI may be heading for a reversal soon.

After 3 consecutive days of downtrend, FKLi is ready for a reversal ??

Look at Hrly bar.

1:12 pm - FKLI holding nicely at 1389-1390

Despite selldown by KLCI, FKLI holding up. If this continues to after lunch, we are looking for a rally, maybe a reversal soon.

2:04 pm - Wow ! Another down day for DJIA. Expect gap down for FKLI on Monday.

Wall Street sells off on inflation fears

NEW YORK (AP) - Stocks finished a bruising week on the downside Friday after a jump in consumer inflation raised concerns about how much freedom the Federal Reserve has to continue cutting interest rates. The Dow Jones industrial average gave up more than 178 points. Concerns emerged after the Labor Department reported its consumer price index had a bigger-than-expected jump for November, with large increases in the cost of clothing, airline tickets and prescription drugs. That raised questions about the Fed's options for priming the economy. Policymakers this week lowered interest rates and announced a plan to align with other key central banks and offer loans to pressed lenders around the world. But while it wants to stimulate the U.S. economy and make lending easier among banks wary of faltering debt, the Fed also has to keep a watchful eye on inflation. Robert Dye, senior economist at PNC Financial Services Group, said the economic readings this week painted a mixed picture for investors, spurring some of the market's volatility. "If you take the stronger-than-expected economic data we saw this week in the form of retail sales and add to that the inflation data and then combine that with a somewhat ambiguous statement from the Fed, you get a picture as clear as mud," he said. The uncertainty weighed on the markets Friday, a day after stocks finished mixed. The Dow Jones industrial average fell 178.11, or 1.32 percent, to 13,339.85. Broader stock indicators also fell. The Standard & Poor's 500 index dropped 20.46, or 1.37 percent, to 1,467.95, and the Nasdaq composite index fell 32.75, or 1.23 percent, to 2,635.74. It resulted in Wall Street's worst weekly showing in a month. For the week, the Dow tumbled 2.10 percent, while the S&P 500 declined 2.44 percent and the Nasdaq shed 2.60 percent. Bond prices fell for the third straight day. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.23 percent from 4.21 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell. Light, sweet crude dropped 98 cents to $91.27 per barrel on the New York Mercantile Exchange. Friday's report on inflation follows a reading Thursday that showed the biggest jump in inflation at the wholesale level in 34 years. The 0.8 percent increase in consumer prices topped the 0.6 percent rise economists had been expecting. The report also showed so-called core inflation, which excludes often-volatile food and energy prices, had its biggest increase in 10 months, rising 0.3 percent. Dye said the Fed could be proven wise for cutting interest rates by just a quarter of a percentage point Tuesday rather than by a half point as some investors had hoped. Stocks fell sharply Tuesday after the Fed's rate decision and staged a partial rebound Wednesday after the Fed announced its liquidity plan with other central banks. The uptick in core inflation is unnerving, Dye said, because it makes it harder for the Fed to justify further rate cuts. Also Friday, the Federal Reserve said industrial production rebounded in November, increasing 0.3 percent after a steep 0.7 percent decline in October. The increase came in slightly ahead of Wall Street's expectations. But beyond economic reports, investors faced more news from the troubled banking sector. Citigroup Inc. fell 31 cents to $30.70 after the bank announced late Thursday it plans to move $49 billion of assets from seven "structured investment vehicles" onto its books to help the SIVs repay their debts. The bank had said earlier it had no plans to bring the SIVs onto its books. Citigroup's Vikram Pandit, who on Tuesday became chief executive, said taking control of the SIVs was the best way to guard their credit ratings and help them sell their investments at decent prices. SIVs are complex investments set up by banks and sold to investors and have come under pressure in recent months because of their investment strategy, which involves the use of mortgage investments and other now-risky debt. The resulting drop in demand hurt the value of the SIVs. Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where volume came to 3.25 billion shares from 3.49 billon on Thursday. The Russell 2000 index of smaller companies fell 15.53, or 2.02 percent, to 753.93. Overseas, Japan's Nikkei stock average slipped 0.14 percent. Britain's FTSE 100 rose 0.52 percent, Germany's DAX index rose 0.25 percent and France's CAC-40 rose 0.26 percent.

8:00 pm - Lower closing for KLCI

Malaysian shares close lower on local political tension, shaky US outlook

- KUALA LUMPUR (Thomson Financial) - Malaysian shares closed lower Friday as investors continued to trim positions ahead of the weekend given rising domestic political tensions and a shaky outlook for the US economy. The government detained five leaders of Malaysian Indian activist group Hindraf Thursday under a security law after the group held a mass anti-government protest in Kuala Lumpur last month. The Hindraf rally was held just two weeks after a demonstration was organized by electoral reform campaigners. The Kuala Lumpur Composite Index (KLCI) closed down 7.15 points or 0.5 percent at 1,403.41, off a low of 1,396.45. For the week, the KLCI was down 30.63 points or 2.1 percent. The FTSE Bursa Malaysia 30-large cap index dropped 58.53 points or 0.6 percent to 9,036.3 and the FTSE Bursa Malaysia second board index was down 7.17 points or 0.1 percent at 6,678.32. Decliners beat advancers 453 to 347 with 299 stocks unchanged and 246 counters untraded. Trading volume was thin at 668.5 million shares, valued at 1.66 billion ringgit.

7:52 pm - FKLI closed lower at 1395.0

The trend is still down. FKLI had 3 consecutive down bar in a row. Watch out for the reversal bar. Maybe next week.

12:55 pm - FKLI breakdown to 1389.5 lowest of the day.

However, TG indicates no signals. So we forgo the short trade

But now it has 3 strengths in intraday charts. HSI Hong Kong recover back. Looking to go long.

9:40 am - FKLI gap up due to support on DJIA.

Nikkei is positive and ST Spore is slightly positive.

Possibility to short FKLI at 1400 or below. At this point, think long.

9:16 pm - DJIA closing lower looks more certain.

TG indicates weakness for DJIA.

Wall Street poised for lower open

NEW YORK (AP) - U.S. stocks headed for a lower open Thursday as investors appeared skeptical that a plan from the Federal Reserve and other central banks to ease tightness in the credit markets would prove effective. Stocks declined overseas amid uncertainty over the plan after an initial burst of enthusiasm in the U.S. on Wednesday gave way to concerns about the effort to inject liquidity into the credit markets. U.S. stocks ended higher but well off their highs Wednesday as investors took a closer look at the Fed's agreement with the European Central Bank and the central banks of England, Canada and Switzerland to combat what it labeled elevated pressures in the credit markets. Uncertainty continued Thursday ahead of several economic readings due before the opening bell, including the Labor Department's producer price index, a reading of inflation levels. In addition, the Commerce Department is slated to release its November retail sales report. The reading could be an important snapshot of retailers' health heading into what is for many the most important period of the year. The uncertainty over the economy sent stock futures lower on Thursday. Ahead of the opening of trading, the Dow Jones industrial average futures fell 114, or 0.84 percent, to 13,386. Standard & Poor's 500 index futures fell 13.90, or 0.93 percent, to 1,476.30, while Nasdaq 100 index futures fell 22.50, or 1.07 percent, to 2,085.20. Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its yields, rose to 4.10 percent from 4.06 percent late Wednesday. The dollar rose against other major currencies, while gold prices fell. Light, sweet crude rose 19 cents to $94.58 per barrel in premarket electronic trading on the New York Mercantile Exchange. In afternoon trading, Britain's FTSE 100 fell 2.23 percent, Germany's DAX index lost 1.29 percent, and France's CAC-40 fell 2.18 percent. In Asia, Japan's Nikkei stock average closed down 2.48 percent, while Hong Kong's Heng Sang index lost 2.72 percent on the day. In corporate news, Costco Wholesale Corp.'s fiscal first-quarter profit climbed 11 percent amid membership fee growth. The warehouse retailer's results met Wall Street's expectations. Investors also awaited fiscal-fourth quarter results from Lehman Brothers Holdings Inc. expected Thursday morning. Dow Chemical Co. said it agreed to sell a 50 percent stake in five of its global businesses to a Kuwaiti company for about $9.5 billion to form a joint petrochemicals venture.

5:16 pm - FKLI closed at 1400.0 down -21.0 pts.

DJIA futures is down -44 pts.

Wud DJIA closed lower tonite. If so, DJIA closed lower, we wud have a opening gap and think to go long.

If DJIA down by -200 pts tonite, FKLI wud probably gap down to 1384-1390.0 on the opening.

4:26 pm - FKLI really sell down today. However TG was too late on the position trade

Intraday TG is whipsawing too. It has long position earlier in the morning and short just before lunch.

Position TG system indicates and it was too late already at 1409.0. No edge !

A well known newsletter in town was long on this current trade with stop loss at 1414 and they got hit too. The daily FKLI traders (those who use eod chart) were stopped out now.

5:54 pm - No position after closing our long position.

DJIA Futures is up by +95 pts.

Let's see if DJIA wud close up tonite after -290 pts.