Thursday, May 17, 2007

Pre Market

The markets across Asia are very bullish and the same is the case with Europe. The world markets have been buoyed by the bullish performance put in by US equities yesterday.

Stocks in Play

Earnings Announcements

TOPT FMCN MRVL PDC KSS JWN INTU ADSK are some names to keep an eye on.

Bernanke is about the subprime market. Philly Fed survey is out later in the day. Everything is setting up for another rally.

The Bank of Japan has decided not to raise interest rates.The carry trade therefore stays in effect. Borrow money at 0.5% in Japan and invest it elsewhere.

Li Ka-shing, Asias richest man says the Chinese market is in a bubble and he is worried. This comes on the back of similar statements by the central bank governor and the Chinese premier.

Inital jobless claims have dropped to a four month low pointing to labor market strength. Or perhaps the unemployed don't have money for $3.50 gas so, they cannot drive to the local unemployment office and register a claim !

Another bad bet on natural gas prices. The Bank of Montreal discloses $680 million in losses. Why can't banks stick to what they do best like taking deposits and lending money ?

Pre Market futures are down indicating a lower open for the market. Buy the dip is almost a no brainer. Dow 13500 is on the cards today. Lets see how high we can go.

2 comments:

Yoon said...

hey,

I saw you made a comment on NTRI at Chris' blog. Aren't you concerned with both the insiders' selling their stocks, and also the institutions dumping shares? Otherwise, its chart set up perfectly for a break-out.

What do you think?

IM said...

Chart looks good to me. Insiders have always been selling their stock.Institutions were selling in the Q1 hence the price decline. Does not look to be the case anymore. Selling has come on low volume. This stock looks like it will consolidate in the 55-60 range before moving higher.