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IDS World Markets Wed 4th November 09


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t?s=^AORD

 

 

Lovely move by gold last night..looks like there's more to come. All Ords is currently +0.3% with a strong move for the Gold sector, +3.9%. The remainder of the sectors are twitchy: Telecomms +0.9%, Financials +0.8% at the top end and for the bottom feeders, REITS -1.8%, IT/ Utilities -0.4% and Consumer Staples -0.3%.

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w?s=^AORD

 

 

A choppy sort of day leaving All Ords +0.2%. Gold continued as leader, +3.7% followed by Miners +1.1% and Materials +0.8%. IT did the drop, -2.3% with REITS next at -1.4%.

 

Green to varying degrees in Asia: China +0.7%, Honkers +1.6%, India +1.2% and Nikkers +0.1%.

 

 

On to UK/Europe:

 

Footsie

 

image;size=239x110

 

 

DAX

 

image;size=239x110

 

 

CAC 40

 

image;size=239x110

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Australia Retail Sales Unexpectedly Fall

 

Nov. 4 (Bloomberg) -- Australian retail sales unexpectedly dropped in September, driving down the nation’s currency as traders added to bets the central bank may pause after two successive interest-rate increases

 

Sales dropped 0.2 percent from August, when they gained a revised 0.7 percent, the Bureau of Statistics said in Sydney today. The median forecast of 22 economists surveyed by Bloomberg News was for a 0.5 percent gain.

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U.K. Consumer Confidence Held at 1 1/2-Year High in October

 

Nov. 4 (Bloomberg) -- U.K. consumer confidence held at the highest level in 1 1/2 years last month as house prices recovered, Nationwide Building Society said today.

 

An index of sentiment was at 72 in October, the same as in September, Britain’s biggest customer-owned lender said in an e- mailed statement today. TNS questioned 1,000 people for Nationwide from Sept. 21 to Oct. 18.

 

Bank of England policy makers will probably decide tomorrow to increase their bond-purchase plan to 225 billion pounds ($367 billion) to combat Britain’s longest-ever recession. House prices rose 1.2 percent last month, though they have still dropped 17 percent since the 2007 peak, Lloyds Banking Group Plc’s Halifax division said yesterday.

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SocGen Third-Quarter Net Doubles on Investment Bank

Nov. 4 (Bloomberg) -- Societe Generale SA, France’s second- largest bank by market value, said third-quarter earnings doubled as its investment-banking unit returned to profit.

 

Societe Generale rose as much as 4.2 percent in Paris trading after reporting net income of 426 million euros ($627 million), above the 399 million-euro median estimate of 11 anal cysts surveyed by Bloomberg.

http://www.bloomberg.com/apps/news?pid=206...rguSc&pos=1

 

Trichet’s ‘Black List’ Fails to Deter Weber as ECB Nears Exit

Nov. 4 (Bloomberg) -- Jean-Claude Trichet is struggling to control Germany’s Axel Weber and fellow European Central Bank council members who are flouting communications etiquette as the bank prepares to exit emergency stimulus measures.

 

Weber pushed bond yields higher when he breached ECB protocol on Oct. 29 by revealing a possible policy shift on long-term lending to banks, something normally reserved for Trichet. Weber and Belgium’s Guy Quaden also broke a rule that officials refrain from commenting on policy in the week before interest-rate decisions, even though Trichet keeps a list of those who speak out of turn.

http://www.bloomberg.com/apps/news?pid=206...ILkRk&pos=2

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Don't watch if you have any heavy objects in your hand....

 

Geithner burns billions of taxpayer TARP dough in CIT deal...

 

There's undoubtedly more ahead.....

 

 

http://finance.yahoo.com/tech-ticker/artic...lf,skf,gs,c,bac

 

 

GS got theirs! It's all good.

 

After gubermint threw a couple billion to that dog they should own it if it failed, butt that wasn't in Golden Sacks interest.

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Massive all pervasive compacency:

 

Fed - wont do a thing - not even change their "words" - Not a Problem

Stocks - just a matter of picking the strong "sectors" and "rotating"

Corporate Bonds - OK for old ladies - real men buy STOCKS

Treasuries: Fully "valued" - but not going anywhere

 

Everything is just fine. Right?

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Massive all pervasive compacency:

 

Fed - wont do a thing - not even change their "words" - Not a Problem

Stocks - just a matter of picking the strong "sectors" and "rotating"

Corporate Bonds - OK for old ladies - real men buy STOCKS

Treasuries: Fully "valued" - but not going anywhere

 

Everything is just fine. Right?

 

Oops - I forgot - We dont have any jobs, soon wont have a currency and wont be able to afford luxuries like imported oil.

Other than that - everything is great.

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Emailed a gold news letter writer last night. Remarkably he is calling a top here and a move in gold back down to $750 utilizing some Elliott wave nonsense. (Prechters crowd have been calling a top in gold from $258).

 

Gheez! Seems some 'expert' TA people can not even read a chart from left to right.

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