Futures

A contractual agreement, generally made on the trading floor of a futures exchange, to buy or sell a particular commodity or financial instrument at a pre-determined price in the future. Futures contracts detail the quality and quantity of the underlying asset; they are standardized to facilitate trading on a futures exchange. Some futures contracts may call for physical delivery of the asset, while others are settled in cash.

** Source from: www.investopedia.com

Sunday, October 4, 2009

FKLI to drop for oct contract

We have seen that FKLI is heading downward as economic data from the US was worst than expected and there is doubt on economy rebound. Therefore, a short signal has been shown earlier. Therefore, advisable to hold short position. Strong support at 1200. Last friday, it break through 1200 but then later it rebound back above 1200. So, 1200 work as a support, once it break through and able to keep it. then the momentum to move downward will be more strong.

My Opinion: Hold short position and put a stop loss at 1220
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