8:50 am - FKLI gap up due to DJIA but resistance still at 1374/1375

4:28 pm - FKLI is more towards sideway or downtrend.

It is testing the FKLI 200MA at 1362.0. Let's see where wud FKLI close tonite !

12:38 pm - FCPO up +207 pts. today !

Wow ! Some clients who took the FCPO trade this trade, pocket handsome profits.

10:28 am - Here is the prognosis for FKLI

Here is a chart of KLCI, the immediate resistance at 1374 and support at 1359.

The FKLI is most likely to range around this range between 1359-1374. As the futures market will close this Feb 29, 2008, it will converge to the cash market, KLCI. So it wud be better to use KLCI chart to trade FKLI.

9:30 am - FKLI holding its position. Maybe it is ready for a rally to election

Now that the selldown is done and DJIA maybe moving sideway, KLCI may ready for a mini rally - a election rally ?

5:18 pm - Here is the prognosis for FKLI

The FKLI is at its 61.8% retracement. Any more downward movement beyond 72% at 1337 will signify FKLI to go below 1320.0

FKLI is at the 1361 support and this is a major support. FKLI has been down 6 days in a row. Look for reversal on a long trade.

3:12 pm - Closed our short position and looking to turn long !

11:10 am - FKLI is still going down !

Think to add on to your short position ! If there is a rebound, it wud be on Monday, Feb 25 2008 when DJIA gives out the bad news this weekend. Let's see if this comes true.

We wud see more downside on Monday before the FKLI rebound.

10:39 am - We have broken 1370 support and the next resistance is 1340.

This is a good down trend !

10:18 am - FKLI gap down due to DJIA -141 pts.

The market is heading lower to 1340+. Our short position is in place.

5:46 pm - Recommendation to go short based on my newsletter dated Feb 18.

Short at 1396.0.

5:26 pm - FKLI has a bearish pattern - my version of Bearish Engulfing.

3:02 pm : FKLI taking a hit after lunch - selldown !

11:28 - FKLI try to rebound but selldown on the intra-day !

10:16 am - Following up the gap, FKLI selldown followed by KLCI selldown !

9:08 am - FKLI gap up due to DJIA closing high !

However, the FKLI is still weak. Strength comes from down bar. We wud monitor our short trade.

5:10 pm - FKLI certainly look bearish

1:25 pm - FKLI is forming a head and shoulder pattern - A very bearish pattern !

12:59 pm - FKLI look certain to crack the 1400 level

At 4 hrs chart, the FKLI is mushrooming down.

10:52 am - FKLI looks like mushrooming down !

This is very bearish to me on the shorter term.