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Wednesday, May 17, 2006

FKLI Heading Up?


I was looking at the chart for FKLI May. Saw the uptrend line, plus the chart is now touching the uptrend line due to the dips on the two previous days. If everything goes right, FKLI should rebound nicely this few days. As it is, the FKLI rose 1.5 pts today to 948.5 - the price I went in.

So I bought 2 May contracts near closing today. It better rise tomorrow or I may have to cut at 945 pts.

[20060518 Update]
I knew something was not right when I woke up with the dark and gloomy sky, coupled with howling winds.

The morning news on TV confirms it. There was a sharp overnight fall on Wall Street, with the Dow Jones Industrial Average skidding 1.88% or 214.28 points to 11,205.61.

FKLI opened at 940.5 - 941, and my cut loss was triggered. Bye-bye, hard earned cash. :(

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