Upbeat economic sentiment boosts FTSE to above 5,000 October 5, 2009 THE FTSE 100 closed higher yesterday after US Institute for Supply Management non-manufacturing data came in better than forecast, with miners and banks the best performing sectors. The index closed up 35.63 points, or 0.7 per cent, at 5,024.33, after tumbling nearly 60 points on Friday to a near three-week closing low below the 5,000 [...]
US stocks shoot up on stronger data October 5, 2009 US stocks shot higher yesterday, ending a four-day losing streak as optimism about upcoming earnings gathered steam and data showed the services sector expanded for the first time since August 2008. The Dow Jones industrial average was up 112.08 points, or 1.18 per cent, at 9,599.75. The Standard & Poor’s 500 Index closed up 15.23 [...]
Traders prefer bonds as fears of a pullback rise steadily October 5, 2009 WITH the FTSE 100 back down below the 5,000 mark, the bears are beginning to feel a little smug. Since July they have been warning that the rally in the markets has been overdone and that we are due a correction. Professor Nouriel Roubini, the economist known as Dr Doom, has said recently that “markets [...]
WHY WE WILL NOT SEE A RED OCTOBER October 5, 2009 EVERYBODY is saying it: the correction is coming. After rallying since March and with various records being broken, it is claimed that global stocks are overdue a sell-off. Analysts are desperate to tell us that “investors have become over-excited with the positive-trending economic data” or that “the fundamentals are being ignored”. Commentators are falling over [...]
You need to evolve to survive in this market October 5, 2009 FOR the retail market participant, success in trading often means finding an edge. Whether that refers to a combination of technical indicators, a sound plan for reacting to event risk or identifying repeatable patterns, the conclusion is always the same. When they come across a system that works, they stick to it. However, narrowing one’s [...]
A pull back on gold is on the cards, or so the cycles say October 4, 2009 THERE seems to be a general consensus that gold is going to continue its recent powerful rally. All sorts of projected targets have been mentioned, from the not too far away $1,050 all the way through $1,200 and even as high as $2,300. Such elevated levels may eventually be reached but for the time being [...]
CONDITIONS IDEAL FOR THE AUSSIE October 4, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COMFOR most of the past 12 months there have been strong correlations in the market within the group of assets that are commonly described as “risky”. More recently there have been signs that many of these correlations are breaking down or weakening. This should not be surprising. It implies that investors are [...]
THE TIPSTER BAINTERIMS WILL CLARIFY ITS POSITION October 4, 2009 SHARES in Legal & General fell by more than 5 per cent on Friday after National Australia Bank moved to dampen talk of a takeover bid. The firm’s share price had risen to highs of the year of more than 95p before the fall. Will the price drop lower? ShortsandLongs.com has a rolling spread of [...]
Supermarkets to dominate this week October 4, 2009 It’s off to the supermarket this week, with Tesco and J Sainsbury both due to give investors a taste of how the year is shaping up. Tesco reports its interims tomorrow, which will include Tesco Personal Finance (TPF) as a consolidated entity for the first time. UBS expects the chain to indicate that it is [...]
Doubts about the pace of the recovery will soon surface October 4, 2009 After Friday’s weaker-than-expected US jobs data and ensuing sell-off in stock markets, doubts are creeping back in as to whether the global economic recovery can be sustained, and the risk of a double-dip recession, although low, is rising. There is a heavy dose of economic data and central bank policy announcements on the calendar this [...]
