10th October 2011, Weekly Market Outlook (CIMB)

Summary


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	Stock	Futures
		FKLI	FCPO
Today Strategy & Stock Pick	For Risk Taker Stock: CIMB	Risk Taker: Hold on to your short position with the stop loss level being placed at 1410 level. Risk Averse: Initiate short position if the FKLI dropped below 1350 level.	Risk Taker: Hold on to short position and start to scale down and take profit at any level below 2700. Risk Averse: Hold on to short position and take profit at any level below 2700.
	For Risk Averse Stock: If the stock manages to sustain above the RM7.15 level convincingly.
Stop Loss	RM6.50	Risk Taker: Around 1410 level. Risk Averse: -	Risk Taker: Revised lower to 2900 level Risk Averse: Revised lower to 2900 level
Market Direction	KLCI: Downtrend.	Downtrend	Downtrend.
Support & Resistance level	KLCI: S1: 1377 S2: 1350 R1: 1400 R2: 1423	Support: S1: 1366; S2: 1350	Support: S1: 2750; S2: 2700
		Resistance: R1: 1400; R2: 1420	Resistance: R1: 2800; R2: 2850
Initial Margin	-	RM5000	RM6000
World News	Jobless claim maintained at 9.1% in US. Both Italy and Spain being downgraded.