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billywows
Elite |
06-Nov-2006 22:34
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US market opened solid GREEN ... Dow above 12k mark up 32 points, while Nasdaq up 15 points!! |
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billywows
Elite |
06-Nov-2006 21:42
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INDICATIONS
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billywows
Elite |
05-Nov-2006 21:38
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Next week sentiments for US market ... The voting public will have their say on Tuesday on a wide variety of issues in races around the country. Political strategists expect Democrats to gain seats in the House and Senate, but Republicans have been working to ensure that they don't lose more than the 15 House seats or six Senate seats needed to cede control of the chambers to the opposition.
"The market is still going to be choppy and on a downward note regardless of what the outcome is," said Barry Hyman, equity market strategist at EKN Financial Services. Success by the Republicans may lead to an upside pop in stocks in the middle of the week but "within a day or two that would be reversed," said Hyman. Read Election Trading Strategies.
The calendar of economic data will be light, with figures due on consumer credit and sentiment, trade, import prices and wholesale inventories. Most of the reports are slated for release on Thursday.
Hyman said stocks are likely to struggle as traders go back to worrying that the economy is heading for a recession after softer data this week. Last Friday's weaker-than-expected gross domestic product number set the tone for a weak performance on Wall Street, with the major indexes all losing ground.
The market found some support Friday after the Labor Department said the U.S. unemployment rate unexpectedly dropped to a 5 1/2 year low of 4.4%. Read Economic Report.
Treasuries reacted by falling sharply, sending yields higher. April fed funds futures now imply a 20% chance rates will be lowered to 5% from 5.25% by the Fed's policy setting body in March. Late Thursday, the market was pricing in a 56% chance of a rate cut.
"This looks to be the first full-throated pullback in the last four months," said Richard Dickson, technical analyst at Lowry Research. "We're not looking for any kind of major decline...just 2% to 3% in the major averages."
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maxsyn
Veteran |
05-Nov-2006 18:48
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sellers took control for continously for 6 days, if further fall below Friday low, the next major support should be at 11700. |
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robinpang
Member |
05-Nov-2006 18:32
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There are no good news for the US market. Bear market from here.
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kennylow
Member |
05-Nov-2006 01:22
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let's not be overly pessismistic but to trade with caution. Remember the time when oil hit $78 jus a few months back and markets were stilll rallying... The law of newton will always be present. What goes up must come down. When it's time for the market to go down eventually, even the brightest news would be futile... :) |
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kennylow
Member |
05-Nov-2006 00:48
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Dow ended 32 pts lower. Tells you alot how the market is affected by this latest development. Big boys still controlling the indices out there. Support should still be there at the moment.... |
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robinpang
Member |
04-Nov-2006 17:49
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Oil more important than interest rates 'hype'. 5.42pm Sg local time Iran war games in the gulf. Oil price expected to surge above $60, curtailing the bull once and for all. War games are also timed 'badly; with US elections, causing more uncertainty to stocks. A double wammy. Teasureys are up, spooking a renewed interest rate hike. Indexs such as Hang seng who bet a rate cut will take the most beating on monday (caution). Rising oil prices fueled by further tension in the gulf and Nigeria by terrorist attacks, coupled with a hawkish fed to curb possible inflationary pressures will send stocks falling from here. A possible peak might be reached for the time being. Furthermore, with unemployment so low, it might hit a bottom. Earnings might have also reached a peak. These factors will be priced into the market from here on, and it will be clear whether the economy will be in a recession, or even stagflation. Whatever it is, stocks seem to be on a downward spiral for now, and probably for awhile. Whichever view you take, the economy will let you know, as in a recession, the US stock market will be the first to give signals. Now is a good time to stock up on those put warrants. It a cheap and an effective way to buy insurance against a falling market. You only lose what you pay, but the upside can be enormous due to leverage. The long term paints an even more bearish. Remember, beside sensitivity to interest rates and company earnings, oil price can take overweight. One never knows when another gulf war can happen. There will always be other "Saddams". A rising oil price from now will bring the whole stock market down. There is too much hype and 'rubbish' from experts trying to bet on the interest rate. Forget the interest rate, today's world more governed by energy and oil prices. Lastly, in STI, i am seeing clear signs of mass speculation in the market in the last bull stage. Penny stocks cheering one day, and dropping the next day. These people probably have no idea of the larger world political issues like gulf tensions and US political implications. Don't underestimate a US recession to world economy. Lastly, we will probably see large market sell down in HSI next week. The Nikkei won't be too much green either, and the whole of next week will probably be bloody. Advice to hold money in cash now. ;-) 5 cens |
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cashiertan
Elite |
04-Nov-2006 16:53
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i am a great believer of his commodities boom since 2 years ago. bought some resources liked UTs together with china linked UTs. offloaded Asia pacific funds to focus on china and resources funds for long term. with his comment, the long awaited year end rally may be reduced or totally capitated. anyway, George Soros also predict recession for USA soon. with the current six days decline, it gives a mixed signal. 1) it could be a nice and gentle decline before a rally (i hope this one too) 2) a slow and long period systematic decline which could last for years. the current rally are fueled by the institution and hedge funds which are transfering their money from property, petrol and gold to commodities and stocks thus i deem this recent rally as artificial, the only questions is how long can this artificial rally last? however, i am confident on the longer term as a "control freak" fed board can allow the recession to be shorter and recovery faster. |
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Livermore
Master |
04-Nov-2006 12:24
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Guess who might be relocating to Singapore? He is one of the most famous investor of all time.He correctly predicted the commodities boom that we are having now. He started the Quantum Fund with George Soros. Yes, he is Jim Rogers.
According to Jim, the US economy "may be in recession now". A recession is defined as 2 consecutive periods in which the economy contracts. "If it is not already in recession, it will be by the end of the year." said Mr Rogers who 3 days ago said he may choose Singapore as his new home.
Among other reasons for considering Singapore as his future home, Mr Rogers said he wants his 2 year old daughter, Happy to grow up in a Chinese speaking envrinment, as he believes China will be the great power of the 21st century.
The total gross domestic product of China will be bigger than that of the US in 30 years
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maxsyn
Veteran |
04-Nov-2006 09:42
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With weaker data pouring in one after another, investers are taking the opportunity to off load those stocks that deem expensive and return again after when price fell to a acceptable level. Nov could be a dull month for stock market this year. |
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billywows
Elite |
04-Nov-2006 07:40
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MARKET SNAPSHOT The Dow industrials fell 32.50 points to 11,986.04. Of the blue chip barometer's 30 components, 23 contributed to losses. It's the first time the index has fallen six times in a row since June 2005.
The Dow also ended below 12,000 for the first time since October 18.
The Nasdaq Composite Index was down 3.23 points at 2,330.79 while the S&P 500 Index dropped 3.04 points to 1,364.30.
On the week, the Dow fell 0.9% and the Nasdaq Composite declined 0.8%. The S&P 500, meanwhile, put in a weekly loss of 0.9%.
In Friday trading, investors had to juggle with jobs data, higher oil prices and a jump in bond yields, but also a raft of earnings reports led by Qualcomm, Electronic Arts and Whole Foods Market Inc.
"We're pulling back because of the sell-off in the bond market that is sending yields higher," said James Park, managing director at Rodman and Renshaw. "Oil is also picking up some steam here."
For Owen Fitzpatrick, managing director private wealth management at Deutsche Bank, the employment report did alleviate some concerns over a slowing economy.
But "we have the election coming up next week with a lot of focus on what will happen with both the House and the Senate, so I don't think we'll get anything too big in front of that. And in general, it's hard to completely offset some of the weaker economic numbers we've been getting," he said.
Weak manufacturing and productivity reports are two key pieces of data that came up short of expectations earlier in the week.
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robinpang
Member |
04-Nov-2006 05:15
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DOW below pyschological 12,000 level. Bull rally fighting hard but unable to stay above that. Monday may see major selling in overbought indices, esp hang seng. Foreign money coming into asia and european market since the sell down in US have already brought the HSI to its divergence at the recent peak. Asia bourses will probably all see red too. Crude oil expected to rally above $60per barrel from bottom next week with imminent terrorist attacks in Nigeria, US govt. If so, DOW may take a deeper plunge. Monday will see volatile DOW trading as election season heats up the next day. However, this november will be a volatile seasons for stocks. |
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cashiertan
Elite |
04-Nov-2006 03:23
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look like there is strong support at 20days sma @ 19980, good news for STI at this moment. |
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rogue_trader
Master |
04-Nov-2006 00:51
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Clarify from my previous post.. "Although unemployment rate at 5 years low, "cooling" of housing will affect US economy". |
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rogue_trader
Master |
04-Nov-2006 00:44
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With unemployment rate at 5 years low of 4.4% plus the "cooling" effect of housing, this is going to affect US economy. For those people who wanted to buy a flat/house in Singapore either for staying/investment/rental, can consider next year June 2007 onwards. In my own opinions, the drop now is only just the beginning. |
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zujzuj
Senior |
04-Nov-2006 00:37
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RED NOw....below 12000 already |
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billywows
Elite |
03-Nov-2006 23:24
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Maybe a rate cut even sooner on 12th December's FOMC?? .... US market playing see-saw now. Dow up 20 points, while Nasdaq flat at 2 points. |
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Livermore
Master |
03-Nov-2006 22:51
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Maybe US market is pricing in a rate cut for next year |
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billywows
Elite |
03-Nov-2006 22:40
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Not much of a rally after all hor .... Nvm, so long stay afloat GREEN can liao. Haha!!! So far, Dow has shown better resistance than Nasdaq. But, watch Nasdaq chiong after Christmas shopping season. |
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