FKLI 1st July 2009

As yesterday,
FKLI, sell position triggered. Position hold for overnight.
stop loss still remain at 1082 ( only valid if hourly bar closing above 1082, not on 1082.)

Result: Correct, Make money.

For FKLI
Yesterday daily chart close at Dark Cloud formation but volume was considered less to be more effective.
Doji on previous 2 trading days still valid.

Outlook:
Bear rally. Short.
Expect FKLI would be a wild market for tomorrow.

Strategy for tomorrow
IF tmr FKLI gap up, July contract, if not above 1082, short position remain. Fresh Short position is encourage but place cut loss on 1082 (hourly bar closing, not the high and low)

IF tmr FKLI gap up, July contract, above 1082, all short position cleared.

IF tmr FKLI gap down, be extra alert if FKLI stopped at 1059, 1051.5 and 1042. Fresh short position is encourage.

Thing to observe,
Tonight Dow Jones index.
Tuesday kicks off the week with the Chicago PMI and the Consumer confidence reading.

Tomorrow morning Nikkei Indices

Overnight crude oil and soybean oil closing.