FKLI 19th Aug 2009

As yesterday,
Short position @82 covered @1166, profit 16 point
short again @1164.5 cut loss at 1175

Results,
3 safe, 0 con, 10 losses, 4 win.
Average -19 points/lots

Outlook,
Bearish possible to end. resistance at 1178
have to be careful.
however, if not break at 1166, 1171, or 1178, bearish run still continue.

strategy,
if FKLI >1171, on 15 min closing, cover short position. possible to turn long if >1178.
if FKLI <1166, on hourly high, then can try to short. but cut loss would be 1168.
if FKLI < 1162, on 15 min closing, short signal, sell, cut loss at previous bar high + 3 points.
if FKLI < 1157, bear market confirmed. short, cut loss at 1166 +3 ( if no new high)