ShareJunction - Member Posts

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Patience has its virtues and proves all those naysayers tat bad-mouthed Midas wrong.

Congrats especially to those who followed my postings and chart analysis and dared to buy since last few days when it presents many good opportunities when it bounced off the 15ema and 25ema with tight stop-loss if it close below the 25ema or 65ema.

Peronally, I will exit if it breaks and closed below the 65ema for 2 continuous days and the 3rd day, there is no reversal sign or bullish harami

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Trade Summary shows more buy-up:

< />

5EN (MIDAS)

WEIGHTED AVG PRICE : 0.8522	LAST DONE PRICE : 0.860
SPREAD/PRICE RATIO : 0.0058	AVG TRADE SIZE : 33.637

< />

Last	Trades	Vol	BuyVol	Mid	SellVol
0.845	3	27	27	0	0
0.850	65	1,770	1,064	0	706
0.855	19	1,143	10	0	1,133
0.860	4	121	0	0	121
TOTAL	91	3,061	1,101	0	1,960

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Below is my chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to abuse the

rating system by rating it as "bad post", accumulating for yourself and your

next generation, "bad" karma for your "bad" deeds.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

This is only my view n I may be right or wrong, so dyodd and SOBAYOR.

Take a look at SAR long-term chart cup and handle, Midas long-term chart (see below) also shows such formation, in the nascent stage

x 1

x 0

Below is my chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to abuse the

rating system by rating it as "bad post", accumulating for yourself and your

next generation, "bad" karma for your "bad" deeds.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

This is only my view n I may be right or wrong, so dyodd and SOBAYOR.

x 0

U.S. Economy: Consumer Confidence, Home Prices Exceed Forecasts

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By Courtney Schlisserman and Shobhana Chandra

Aug. 25 (Bloomberg) -- U.S. consumer confidence climbed more than forecast and national home prices increased for the first time in three years, signaling government efforts to right the world’s biggest economy are starting to pay off.

The Conference Board’s confidence index rose to 54.1 in August, the first gain since May, as consumers became less concerned about the outlook for jobs, the New York research group said today. The S&P/Case-Shiller home-price index advanced 2.9 percent in the second quarter from the previous three months, the first increase since 2006 and the biggest in almost four years.

The reports underscore why President Barack Obama gave Ben S. Bernanke a vote of confidence today by nominating the head of the Federal Reserve to a second term as chairman. Indications the housing crisis that triggered the worst recession since the 1930s is dissipating boosted stocks even as the White House downgraded growth and deficit forecasts.

“We’ve moved into the recovery phase,” said Conrad DeQuadros, senior economist at RDQ Economics in New York. “The talk about the recession being over, combined with better economic data, stabilization in housing and strength in equity markets is driving consumer confidence higher.”

The Standard & Poor’s 500 index rose 0.8 percent to 1,033.35 at 11:39 a.m. in New York. Treasuries dropped, sending the yield on the benchmark 10-year note to 3.50 percent compared with 3.48 percent late yesterday.

Four More Years

Obama nominated Bernanke, who led the biggest expansion of the central bank’s power in its 95-year history to stem the worst financial crisis since the Great Depression, for a second four-year term starting Jan. 31. The appointment still needs to be approved by the Senate.

“It’s a reasonably positive batch of news we got this morning, including the renomination of Chairman Bernanke,” Julia Coronado, a senior U.S. economist at BNP Paribas in New York, said in a Bloomberg Television interview.

The White House Office of Management and Budget today forecast the economy will grow 2 percent in 2010, less than the 3.2 percent expected in May, and the contraction this year will be more than twice as deep as previously anticipated. Unemployment will surge to 10 percent this year and the budget deficit will be $1.5 trillion next year, both higher than the prior estimates, according to the mid-year review.

Consumer confidence was projected to rise to 47.9, according to the median estimate in a Bloomberg News survey of 67 economists. Forecasts ranged from 42 to 51. The index averaged 57.95 last year. The Conference Board revised the July reading up to 47.4 from a previously reported 46.6.

Auto Plan

Consumers this quarter have benefited from government efforts such as the “cash-for-clunkers” plan and extended jobless benefits aimed at buttressing spending, which accounts for 70 percent of the economy.

The Conference Board’s measure of present conditions increased to 24.9 from 23.3 the prior month. The gauge of expectations for the next six months jumped to 73.5, the highest since December 2007, from 63.4.

“The economy is on a recovery path, that’s the overall picture,” said Jonathan Basile, an economist at Credit Suisse in New York. “We’re on the path but we’re not necessarily all the way to feeling better yet. We can be encouraged by the gains in expectations and we can be encouraged by the increase in house prices.”

The share of consumers who said jobs are plentiful rose to 4.2 percent. The proportion of people who said jobs are hard to get decreased to 45.1 percent from 48.5 percent.

Spending Limited

Some retailers are finding consumers are still retrenching even as the economy shows signs of improvement.

AnnTaylor Stores Inc., which sells women’s business attire, last week reported a 21 percent drop in second-quarter revenue and forecast continued pressure on sales this year.

“There is no question our client is more cautious in her spending today, updating her wardrobe with fewer pieces and shopping her own closet,” Kay Krill, president and chief executive officer of AnnTaylor, said on a conference call.

The S&P/Case-Shiller report showed home prices nationally were down 14.9 percent in the second quarter from a year earlier, the smallest drop in a year. The group’s monthly index of 20 cities declined 15.4 percent in June from a year earlier, the smallest drop since April 2008. The gauge rose from the prior month by the most in four years.

Lower prices and government stimulus efforts have made homes more affordable to first-time buyers, spurring increases in sales that will eventually stem the slide in property values. Gains in housing and stocks will speed the process of restoring the record loss of wealth that has shackled consumer spending.

“The sharp freefall in prices is over,” said Michelle Meyer, an economist at Barclays Capital Inc. in New York. “People are entering the market and that is starting to normalize prices. It’s a clear positive.”

Compared with the prior month, 18 of the 20 areas covered showed an increase, while two showed a decrease. Cleveland and San Francisco had the biggest monthly gains.

To contact the reporters on this story: Courtney Schlisserman in Washington cschlisserma@bloomberg.net; Shobhana Chandra in Washington at schandra1@bloomberg.net Last Updated: August 25, 2009 11:44 EDT

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China’s PBOC to Ensure ‘Reasonable, Ample’ Liquidity (Update1)

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By Judy Chen

Aug. 25 (Bloomberg) -- The People’s Bank of China said it will ensure “reasonable and ample” liquidity in the financial system and promote “appropriate” growth in lending.

The yuan’s exchange rate will be kept at a “reasonable and balanced” level, the central bank known as PBOC said in its 2008 annual report released on its Web site today. It also plans to make interest rates more “market-oriented,” according to the report.

Premier Wen Jiabao said the government will maintain its fiscal and monetary policies as the nation’s economic recovery isn’t stable and faces many “uncertainties,” according to a statement on the State Council Web site yesterday. The Shanghai Composite Index fell this month amid speculation the government will curb lending that rose to a record in the first half.

The world’s third-largest economy expanded 7.9 percent in the second quarter, rebounding from the weakest growth in almost a decade. Still, exports fell 23 percent from a year earlier in July, declining for a ninth month, as the global slowdown battered foreign demand.

Consumer prices will likely stabilize in the second half of this year as the economy gradually recovers and investment growth accelerates, according to the PBOC report today.

China’s consumer price index dropped 1.8 percent last month from a year ago, following five months of declines.

--Judy Chen. Editor: Tan Hwee Ann

To contact Bloomberg News staff for this story: Judy Chen in Shanghai at +86-21-6104-7047 or Xchen45@bloomberg.net. Last Updated: August 25, 2009 09:11 EDT

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Bernanke Is Nominated for Second Term as Fed Chief (Update3)

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By Julianna Goldman, Scott Lanman and Michael McKee

Aug. 25 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke, who led the biggest expansion of the central bank’s power in its 95-year history to battle the worst economic slump since the Great Depression, was nominated to a second term today by President Barack Obama.

“Ben approached a financial system on the verge of collapse with calm and wisdom, with bold action and out-of-the box thinking that has helped put the brakes on our economic freefall,” Obama said in Martha’s Vineyard, Massachusetts, with Bernanke at his side.

Bernanke’s nomination for a second four-year term starting Jan. 31 requires Senate approval and was endorsed by the head of the Banking Committee, Christopher Dodd. The Fed chief will still face tough questioning from lawmakers who say he was slow to recognize the severity of the mortgage crisis and didn’t do enough to protect American consumers while leading bailouts of financial firms including Bear Stearns Cos. and American International Group Inc.

“While I have had serious differences with the Federal Reserve over the past few years, I think reappointing Chairman Bernanke is probably the right choice,” Dodd, a Connecticut Democrat, said yesterday in a statement. “There will be a thorough and comprehensive confirmation hearing.”

Bernanke Pledge

Bernanke today pledged to work toward restoring stability to financial markets and the economy.

“I will work to the utmost of my abilities -- with my colleagues at the Federal Reserve and alongside the Congress and the administration -- to help provide a solid foundation for growth and prosperity in an environment of price stability,” he said.

In the latest evidence of an economic recovery, reports today showed home values in 20 metropolitan areas decreased at a slower pace than forecast and consumer confidence rose.

The S&P/Case-Shiller home-price index declined 15.4 percent in June from a year earlier, the smallest drop since April 2008. The Conference Board’s confidence index rose to 54.1 this month, more than forecast and the first gain in three months, from 47.4 in July.

The Standard & Poor’s 500 Index added as much as 1.2 percent following the reports, then pared gains as a retreat in crude prices dragged down shares of oil companies. The S&P 500 Index was up 0.4 percent to 1,029.26 at 10:32 a.m. in New York.

Keeping the Team

Obama decided to reappoint Bernanke because he wanted to keep together the team that had weathered the crisis, an administration official said. The official said Treasury Secretary Timothy Geithner, Chief of Staff Rahm Emanuel and National Economic Council Chairman Larry Summers all recommended Bernanke be reappointed.

Bernanke, 55, slashed the main interest rate almost to zero and pumped $1 trillion into the banking system to unfreeze credit markets. He now must guide the world’s largest economy back to growth and reduce unemployment that the Obama administration today forecast would surge to 10 percent, while also planning to shrink the Fed’s balance sheet to prevent a surge in inflation.

“It’s not just that he’s done a great job of dealing creatively with the financial crisis,” said Richard Berner, co- head of global economics at Morgan Stanley in New York. “He has the capacity to deal with the challenges that lie ahead -- continuing to help the economy and markets heal and engineering the exit strategy when it’s appropriate to do so.”

Bipartisan Tradition

Obama, a Democrat, continues a recent tradition of bipartisanship in his decision to nominate Bernanke, a Republican, to a second term.

Bernanke’s predecessor and fellow Republican, Alan Greenspan, served as Fed chief for 18 years while gaining renomination by three presidents, including Bill Clinton, a Democrat. President Ronald Reagan kept Paul Volcker, first selected by Jimmy Carter, for a second term.

Almost 75 percent of investors surveyed in the first Quarterly Bloomberg Global Poll had a favorable view of the chairman in July. By almost a three-to-one margin, they said Bernanke had earned another four-year term.

The Standard & Poor’s 500 Index has risen 52 percent since a recession low on March 9. The S&P lost 38.5 percent last year. Credit markets have also recovered: The London Interbank Offered Rate for three months loans in dollars fell to 0.38 percent today. The rate surged as high as 4.81 percent in October.

Bernanke’s nomination comes as the world’s biggest economy is poised to a recover from a recession that the Obama administration today said has been deeper than previously expected.

Economic Forecasts

The Office of Management and Budget forecast that the economy will shrink 2.8 percent this year, worse than the 1.2 percent contraction projected in May. For next year, the budget office said gross domestic product will grow 2 percent, less than the 3.2 percent expected in May. The economy has contracted 3.9 percent since the recession began in December 2007.

The Libor-OIS spread, a gauge of financial stress, fell to 20 basis points today. The spread soared to 364 basis points on Oct. 10 last year after Lehman Brothers Holdings Inc.’s collapse. Greenspan said in a June 2008 interview he wouldn’t consider credit markets back to “normal” until the spread was at 25 basis points.

Companies have sold a record $794 billion of dollar- denominated investment-grade corporate bonds this year, according to data compiled by Bloomberg. That’s up from $599 billion in the same period last year.

“Prospects for a return to growth in the near term appear good,” Bernanke said in an Aug. 21 speech at the Kansas City Fed’s annual symposium in Jackson Hole. Still, he warned of “critical challenges” ahead and added: “We have an enormous amount of work to do.”

MIT Degree

Ben Shalom Bernanke grew up in Dillon, South Carolina, where his family owned a pharmacy opened by his Austrian immigrant grandfather. He went north to Harvard University in Cambridge, Massachusetts, graduating summa cum laude with a bachelor’s degree in economics, then received a doctorate in economics from the neighboring Massachusetts Institute of Technology in 1979.

A self-described “Great Depression buff,” Bernanke joined the central bank as a governor in 2002 after serving as chairman of Princeton University’s economics department. President George W. Bush appointed Bernanke chairman of the Council of Economic Advisers in 2005 before naming him a few months later to the top Fed post.

“I did spend a lot of my career studying the Great Depression and other financial crises,” Bernanke said in a town-hall-style meeting on July 26 organized by PBS television. “And I didn’t expect it would be so helpful, so useful, as it has been.”

Mortgage Meltdown

By his own admission, Bernanke was slow to recognize the severity of the mortgage meltdown at the heart of the recession.

“I and others were mistaken early on in saying that the subprime crisis would be contained,” he said in an interview last November with the New Yorker magazine.

In August 2007, the collapse in credit markets forced Fed policy makers to lower the discount rate just two weeks after declaring inflation was their paramount challenge. The next month, the Fed cut its benchmark federal funds rate for the first time in four years.

Bernanke came under fire for failing to prevent the collapse of Lehman Brothers, which triggered the biggest drop in the S&P 500 Index since Sept. 11, 2001, and deepened the credit freeze.

“The sentiment all over the world was that such a dramatic bankruptcy of a signature institution was impossible,” said Jean-Claude Trichet, president of the European Central Bank, in a June 15 interview.

Relationship With ECB

Today, Trichet said he was “extremely pleased” to learn of Bernanke’s nomination. “We have had an excellent and very close working relationship during the current episode of exceptional challenges for the world economy,” Trichet said in a statement.

Bernanke called Lehman’s failure “unavoidable” in his Jackson Hole speech. No buyer could be found, he said, and the investment bank didn’t have enough collateral to qualify for a Fed loan large enough to save it.

Two days after Lehman’s bankruptcy filing, the Fed took control of AIG in an $85 billion bailout designed to prevent the worst financial collapse in history.

As Lehman’s collapse sent shock waves through financial markets, Bernanke launched unprecedented programs -- one to contain fallout from a run on money-market funds, and another to buy short-term debt from companies such as General Electric Co.

Asset-Purchase Plan

Bernanke also supported then-Treasury Secretary Henry Paulson’s proposal for a $700 billion Troubled Asset Relief Program, initially intended to buy toxic assets from banks and later used to purchases equity stakes in the lenders themselves.

In December, with the economy contracting, the Fed’s key interest rate was slashed almost to zero, where it has remained. In the following months, the Fed launched programs to pump money into the economy through purchases of mortgage-backed debt, U.S. Treasuries and securities backed by auto loans, credit cards and commercial-property mortgages.

“This last couple of years has been clearly a move through uncharted territory, and as we’ve seen it’s taken a lot of unconventional moves to try to deal with the situation,” said Robert Parry, former president of the San Francisco Federal Reserve Bank. “There’s been a lot of innovation that’s gone on, and it seems to me that much of it has been successful.”

Yet the expansion of Fed authority has put Bernanke in the crosshairs of critics in Congress. Some lawmakers have accused the Fed of overstepping its authority and failing to properly supervise the financial firms that packaged and sold the mortgage-backed securities at the heart of the crisis.

‘Regulatory Malfeasance’

“I’ve been astounded and shocked by certain regulatory malfeasance of the Federal Reserve and the reserve banks in the regulatory process in the last several years,” said Alabama Senator Richard Shelby, the ranking Republican on the Banking Committee.

Other lawmakers accused Bernanke of improperly pressuring Bank of America Corp. Chief Executive Officer Kenneth Lewis to proceed with its planned acquisition of Merrill Lynch & Co. The House Oversight Committee subpoenaed and released dozens of Fed e-mails and other documents. Bernanke told the panel in June that the central bank acted with the “highest integrity.”

There’s little indication that Bernanke would fail to gain Senate approval. The Fed chief has cultivated relationships with key members of Congress, winning their respect while they criticized some of the central bank’s actions.

Senator Charles Schumer, a member of the Banking Committee and a New York Democrat, endorsed Bernanke’s reappointment, calling him “the right choice for these tough times.”

To contact the reporters on this story: Julianna Goldman in Washington at jgoldman6@bloomberg.net; Scott Lanman in Washington at slanman@bloomberg.net; Michael McKee in New York at mmckee@bloomberg.net. Last Updated: August 25, 2009 10:36 EDT

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Below is my chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to abuse the

rating system by rating it as "bad post", accumulating for yourself and your

next generation, "bad" karma for your "bad" deeds.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

This is only my view n I may be right or wrong, so dyodd and SOBAYOR.

x 0

U.S. Economy: Consumer Confidence, Home Prices Exceed Forecasts

Share | Email | Print | A A A

By Courtney Schlisserman and Shobhana Chandra

Aug. 25 (Bloomberg) -- U.S. consumer confidence climbed more than forecast and national home prices increased for the first time in three years, signaling government efforts to right the world’s biggest economy are starting to pay off.

The Conference Board’s confidence index rose to 54.1 in August, the first gain since May, as consumers became less concerned about the outlook for jobs, the New York research group said today. The S&P/Case-Shiller home-price index advanced 2.9 percent in the second quarter from the previous three months, the first increase since 2006 and the biggest in almost four years.

The reports underscore why President Barack Obama gave Ben S. Bernanke a vote of confidence today by nominating the head of the Federal Reserve to a second term as chairman. Indications the housing crisis that triggered the worst recession since the 1930s is dissipating boosted stocks even as the White House downgraded growth and deficit forecasts.

“We’ve moved into the recovery phase,” said Conrad DeQuadros, senior economist at RDQ Economics in New York. “The talk about the recession being over, combined with better economic data, stabilization in housing and strength in equity markets is driving consumer confidence higher.”

The Standard & Poor’s 500 index rose 0.8 percent to 1,033.35 at 11:39 a.m. in New York. Treasuries dropped, sending the yield on the benchmark 10-year note to 3.50 percent compared with 3.48 percent late yesterday.

Four More Years

Obama nominated Bernanke, who led the biggest expansion of the central bank’s power in its 95-year history to stem the worst financial crisis since the Great Depression, for a second four-year term starting Jan. 31. The appointment still needs to be approved by the Senate.

“It’s a reasonably positive batch of news we got this morning, including the renomination of Chairman Bernanke,” Julia Coronado, a senior U.S. economist at BNP Paribas in New York, said in a Bloomberg Television interview.

The White House Office of Management and Budget today forecast the economy will grow 2 percent in 2010, less than the 3.2 percent expected in May, and the contraction this year will be more than twice as deep as previously anticipated. Unemployment will surge to 10 percent this year and the budget deficit will be $1.5 trillion next year, both higher than the prior estimates, according to the mid-year review.

Consumer confidence was projected to rise to 47.9, according to the median estimate in a Bloomberg News survey of 67 economists. Forecasts ranged from 42 to 51. The index averaged 57.95 last year. The Conference Board revised the July reading up to 47.4 from a previously reported 46.6.

Auto Plan

Consumers this quarter have benefited from government efforts such as the “cash-for-clunkers” plan and extended jobless benefits aimed at buttressing spending, which accounts for 70 percent of the economy.

The Conference Board’s measure of present conditions increased to 24.9 from 23.3 the prior month. The gauge of expectations for the next six months jumped to 73.5, the highest since December 2007, from 63.4.

“The economy is on a recovery path, that’s the overall picture,” said Jonathan Basile, an economist at Credit Suisse in New York. “We’re on the path but we’re not necessarily all the way to feeling better yet. We can be encouraged by the gains in expectations and we can be encouraged by the increase in house prices.”

The share of consumers who said jobs are plentiful rose to 4.2 percent. The proportion of people who said jobs are hard to get decreased to 45.1 percent from 48.5 percent.

Spending Limited

Some retailers are finding consumers are still retrenching even as the economy shows signs of improvement.

AnnTaylor Stores Inc., which sells women’s business attire, last week reported a 21 percent drop in second-quarter revenue and forecast continued pressure on sales this year.

“There is no question our client is more cautious in her spending today, updating her wardrobe with fewer pieces and shopping her own closet,” Kay Krill, president and chief executive officer of AnnTaylor, said on a conference call.

The S&P/Case-Shiller report showed home prices nationally were down 14.9 percent in the second quarter from a year earlier, the smallest drop in a year. The group’s monthly index of 20 cities declined 15.4 percent in June from a year earlier, the smallest drop since April 2008. The gauge rose from the prior month by the most in four years.

Lower prices and government stimulus efforts have made homes more affordable to first-time buyers, spurring increases in sales that will eventually stem the slide in property values. Gains in housing and stocks will speed the process of restoring the record loss of wealth that has shackled consumer spending.

“The sharp freefall in prices is over,” said Michelle Meyer, an economist at Barclays Capital Inc. in New York. “People are entering the market and that is starting to normalize prices. It’s a clear positive.”

Compared with the prior month, 18 of the 20 areas covered showed an increase, while two showed a decrease. Cleveland and San Francisco had the biggest monthly gains.

To contact the reporters on this story: Courtney Schlisserman in Washington cschlisserma@bloomberg.net; Shobhana Chandra in Washington at schandra1@bloomberg.net Last Updated: August 25, 2009 11:44 EDT

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U.S. Stocks Advance as Confidence, Home Sales Beat Forecasts

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By Elizabeth Stanton

Aug. 25 (Bloomberg) -- U.S. stocks rose as better-than- estimated consumer confidence and home prices bolstered optimism the recession is ending. Treasuries fell before a record-tying $42 billion sale of two-year notes, while crude oil slumped.

Macy’s Inc. and Abercrombie & Fitch Co. added more than 4 percent as the Conference Board’s measure of consumer sentiment increased to 54.1, topping the median projection of 47.9. Pulte Homes Inc., the nation’s biggest builder by market value, advanced 3.7 percent as the S&P/Case-Shiller home-price index for 20 U.S. cities fell by the smallest amount since April 2008.

The Standard & Poor’s 500 Index added 0.8 percent 1,033.83 at 11:41 a.m. The Dow Jones Industrial Average increased 79.28 points, or 0.8 percent, to 9,588.56, gaining for the sixth straight day. Both gauges reached their highest levels of 2009.

“Obviously there’s a lot of questions about whether the economic recovery is sustainable, but stocks tend to react before the fundamentals do,” said Jeffrey Coons, who helps oversee $21 billion as co-director of research at Manning & Napier Advisors Inc. in Fairport, New York. “We haven’t yet begun to see investors shift more assets into equities, so we think stocks have more room to appreciate.”

The S&P 500 has advanced five straight months and in five of the past six weeks following better-than-forecast corporate profits and signs of an improving economy. More than 72 percent of its companies beat the average analyst estimate for second- quarter earnings, the most since Bloomberg began tracking the data in 1993. The Conference Board’s index of leading economic indicators has risen every month since April. With today’s gain, the S&P 500 has risen 53 percent from a 12-year low in March.

Europe, Asia Shares

The Dow Jones Stoxx 600 Index of European shares advanced 0.4 percent after earlier falling as much as 0.8 percent. The MSCI Asia Pacific Index slipped 0.3 percent as the Shanghai Composite Index slid for the first time in four days, decreasing 2.6 percent. Wen Jiabao, China’s premier, said yesterday that excess industrial capacity may limit growth and authorities can’t be “blindly” optimistic.

The yield on 10-year Treasury notes, which move inversely to the price of the securities, rose 0.3 point to 3.50 percent. The Treasury will auction the two-year notes at 1 p.m. today, followed by $39 billion of five-year notes tomorrow and $28 billion of seven-year notes on Aug. 27.

The U.S. government is selling the securities to pay for its record budget deficit, which resulted from measures to prop up the economy. The deficit will widen to $1.5 trillion next year, reflecting a “deeper recession” than previously expected, White House budget chief Peter Orszag said today.

Teen Clothing

Macy’s, the second-biggest U.S. department-store chain, rose 4.1 percent to $15.95. Abercrombie & Fitch, a teen-clothing retailer, climbed 4.1 percent to $33.33. The S&P 500 Consumer Discretionary Index advanced 1.7 percent, the most among 10 industries, following the consumer-confidence report.

Pulte Homes, the biggest U.S. homebuilder, advanced 3.8 percent to $13.10. The four homebuilders in the S&P 500 gained 3.7 percent as a group, and reached the highest level since Oct. 2. The S&P/Case-Shiller home-price index declined 15.4 percent in June from a year earlier, less than the median economist estimate of 16.4 percent. Prices rose from the prior month by the most in four years.

More than 72 percent of S&P 500 companies beat the average analyst estimate for second-quarter profit, the biggest proportion since Bloomberg began tracking the data in 1993.

Big Lots Inc. rose 7.6 percent to $25.85. The closeout retailer said second-quarter profit from continuing operations was 35 cents a share, or 15 percent more than the average analyst estimate.

Hamburgers

Burger King Holdings Inc. increased 8.9 percent to $19.23. The second-largest U.S. hamburger chain said fourth-quarter profit was 43 cents a share, topping the average estimate by 32 percent, as the company expanded overseas.

Harman International Industries Inc. rose the most in the S&P 500, climbing 9 percent to $29.55. The maker of audio systems for homes and vehicles was rated “overweight” in new coverage at JPMorgan Chase & Co., which said the company has the potential to cut costs and boost sales.

Most U.S. stocks fell yesterday, led by financial companies, after SunTrust Banks Inc. said lenders face more credit losses and commercial real estate may falter through 2010. The S&P 500’s five-month rebound left it the valued at 18.9 times the trailing 12-month operating profits of its companies last week, the highest ratio since 2004, according to data compiled by Bloomberg.

Manitowoc Co. fell 5.8 percent to $6.48. The crane maker was picked to replace CareFusion Corp., which is being spun off from Cardinal Health Inc., in the S&P 500.

Denbury Resources Inc. fell 5.7 percent to $15.92. The oil and natural-gas producer was cut to “neutral” from “buy” at UBS AG.

To contact the reporter on this story: Elizabeth Stanton in New York at estanton@bloomberg.net. Last Updated: August 25, 2009 11:47 EDT

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I fully agree with u,

ozone2002 ( Date: 25-Aug-2009 15:10) Posted:

i would use the wise words "Irrational Exuberence!"

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So sorry if I offended those vested for being a party-pooper, but I just want to blow the whistle and sound a warning, better be safe than sorry and not be the last to leave the party and got burnt (reminds me of tat incidence of the party-goers playing sparklers till got so carried away and throw caution to the wind)

richtan ( Date: 25-Aug-2009 15:00) Posted:

Not only creepy feel but also goose-pimples.

jing77 ( Date: 25-Aug-2009 14:46) Posted:

is genting rising a little too quickly? gives me the creepy feel

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Not only creepy feel but also goose-pimples.

jing77 ( Date: 25-Aug-2009 14:46) Posted:

is genting rising a little too quickly? gives me the creepy feel

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Hehehe... the big escalator forming a smaller escalator with down-sloping steps for people to rest their legs.

TuaPekGong9413 ( Date: 25-Aug-2009 14:24) Posted:

escalator break down liao....cos yesterday it overwork

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Wow!! very interesting, STI chart looks like an escalator or flight of stairs going upwards.

richtan ( Date: 25-Aug-2009 14:20) Posted:

Oh yah, forgot to indicate in the chart tat yesterday's long white candle is a

bullish engulfing candle, engulfing the previous day's black candle on increased vol.

richtan ( Date: 25-Aug-2009 11:24) Posted:

Below is my chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to abuse the

rating system by rating it as "bad post", accumulating for yourself and your

next generation, "bad" karma for your "bad" deeds.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

This is only my view, I may be right or wrong, so dyodd and SOBAYOR.

x 0

Oh yah, forgot to indicate in the chart tat yesterday's long white candle is a

bullish engulfing candle, engulfing the previous day's black candle on increased vol.

richtan ( Date: 25-Aug-2009 11:24) Posted:

Below is my chart analysis for sharing and exchange pointers.

My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.

If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start

making unconstructive comments and plse do not be so childish or lunatic as to abuse the

rating system by rating it as "bad post", accumulating for yourself and your

next generation, "bad" karma for your "bad" deeds.

If u think it is a bad post, then be constructive and kindly post your TA for sharing.

This is only my view, I may be right or wrong, so dyodd and SOBAYOR.

victorf ( Date: 25-Aug-2009 11:01) Posted:

market has choosen choice 2 (imply it will not touch 3000 in near term)...stick to my latest call now....though some stocks will still rally due to its low valuation

Call: STI will consolidate all the way down by breaking below support 2420 by next May 2010 all the way to 1800 (best buy for the next bull cycle in year 2013/2014)

In the last call (STI should move towards the 2500-2600 region by August (one should take profit for shares bought between last October 2008-March 2009), i have executed the plan (except 1 to 2 long term counters) and made good profit...good luck

19-Aug-2009 18:16

Straits Times Index / STI to cross 3000 boosted by long-term investors 4Go to Message

x 0

As expected, the market shows some indication of its direction after mid August 2009 (first day dropped 84 points)...it seems to point to possibility 2....need one more week to confirm ....good luck !

victorf ( Date: 28-Jul-2009 12:26) Posted:

2600 region reached....now the "million dollar" question is which one (possibility 1 or 2 happening ? ) after mid August 2009 - May 2010 ...let's wait for the market to make the decision in three weeks time as Market is always RIGHT !!!

Victorf 26-May-2009 13:38

Straits Times Index / STI to cross 3000 boosted by long-term investors 4Go to Message

x 0

STI should move towards the 2500-2600 region by August (one should take profit for shares bought between last October 2008-March 2009)...after that, there are two possibilities:

i. STI may touch 3000 by next May 2010, and then down all the way to 1800 (best buy for the next bull cycle in year 2013/2014)

ii. STI may consolidate all the way down by breaking below support 2420 by next May 2010 all the way to 1800 (best buy for the next bull cycle in year 2013/2014)

Just my two cents and let the market be the judge

x 0

Cheongwee,

U r posting in the wrong thread, appreciate if u can post in the right thread, otherwise tatanount to hijacking.

This thead is solely for postings on STI.

cheongwee ( Date: 25-Aug-2009 12:08) Posted:

and then again, dont give up your mermaid, it is a precious virgin...u dont sell virgin cheaply, right?

other than that use trailing stop for the rest will be fine..but not mermaid...i haven't have enough of her

yet....this one is my second love after SAR..hope she dont dissapoint us...

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Just be very careful, dun be the last one to carry someone's unwanted baby or "hot potatoes" when the musical chairs stopped, when Cinderella's ballroom clock strikes 12 (clock with no hands), remember the "Greater Fool Theory", better be safe than sorry.

Dyodd n BOSAYOR

iPunter ( Date: 25-Aug-2009 12:01) Posted:

Should surpass $1.00 within this week...

Then someone may do a "Lim' at that level... hehehe... Smiley

x 0

Below is from OCBC Investment Research:

Shanghai Stock Exchange Composite (SSEC) – Retesting the 3000 key resistance

More upside in the coming week: SSEC is likely to re-test the 3000 key support-turned-resistance level in the coming week after staging a strong rebound off its 8-month downtrend line.

Indicators show signs of a turnaround:With the RSI already showing oversold signals and the MACD showing a possible bottoming, the bearish momentum could be coming to an end soon.

buylist ( Date: 25-Aug-2009 11:34) Posted:

Shanghai Composite is down -3.35%

SSE 180 down 4.13%

SSE 50 down 4.4%

Good for shortist....

x 0

Monday, August 24, 2009

Genting Singapore - Even odds

RWS could beat consensus forecasts in its maiden year of operation in 2010, and boost GENS' earnings by 210.0% and 50.3% in 2010-11. Recommend HOLD due to limited upside to fair price of S$0.95.

We initiate coverage on Genting Singapore (GENS) with a HOLD call and a DCF-based fair price of S$0.95/share, which implies a target 2011 EV/EBITDA of 12.7x. While we believe Resorts World@Singapore (RWS) could trounce consensus forecasts in its maiden year as a casino operator in Singapore in 2010, a peakish market outlook could prompt investors to cash in following GENS' 98.9% ytd price appreciation. We expect GENS to trade in the S$0.90-0.95 range, with the top end having already factored in continuity of the Singapore casino licence and scarcity premium for comparable Asian gaming-consumer plays. As our fair price has limited upside potential, we recommend HOLD with an entry price of S$0.80.

Earnings on a roll. We project GENS' earnings to surge 210.0% and 50.3% to S$295.2m and S$443.8m in 2010-11 as RWS' casino operations go into full swing by 1Q10, ahead of rival Singapore casino operator Marina Bay Sands. GEN could beat consensus forecasts of S$105.3m given its first-mover advantage, and with the partial deferment of expansion of the less profitable non-gaming operations.

Leveraging on Asia's sizeable VIP and Singapore's domestic gaming markets. RWS should be able to capture 5.0% of Asia's VIP market (estimated at US$9b-10b p.a.) and 12.5% of Singapore's gaming market (estimated at S$9b-10b p.a.). This excludes the full grind market potential which RWS could tap from neighbouring countries such as Malaysia, Indonesia, and possibly even China. This is based on the premise of RWS' strong global network, favourable tax structure and strategic location in Asia.

Quick wins and high margins at RWS. The S$5.6b RWS project promises a good payback period of 8-9 years, riding on Singapore's favourable gaming tax structure which gives RWS an advantage over its competitors in Australia and Macau in the high roller segment. Meanwhile, the non-gaming division (principally Universal Studios) should eventually attain decent returns, judging from Universal Studios Japan's achievements in recent years.

UK business' run of bad luck should turn by 2011. GENS' UK business is projected to recover only in 2011 due to the UK's prolonged economic slowdown and adverse regulatory environment. Still, earnings could post apositive surprise as 2008's streamlining and restructuring exercises could save up to £10m annually, but the upside is not significant to group earnings.

Impacts on Genting. We expect Genting's earnings growth to gain momentum in 2010 and 2011, boosted by RWS' contributions. We forecast Genting's 2010 and 2011 EBIT growth at 80% and 17% yoy, mainly as RWS' contribution to group EBIT rises to 32.9% and 37.5% respectively (reversing losses in 2009). We recommend buying into share price weakness (with target price of RM7.60) as Genting will be the cheaper entry point to RWS' future earning growth potential.

erictkw ( Date: 25-Aug-2009 11:25) Posted:

Monday, August 24, 2009

Genting Singapore - Even odds

RWS could beat consensus forecasts in its maiden year of operation in 2010, and boost GENS' earnings by 210.0% and 50.3% in 2010-11. Recommend HOLD due to limited upside to fair price of S$0.95.

We initiate coverage on Genting Singapore (GENS) with a HOLD call and a DCF-based fair price of S$0.95/share, which implies a target 2011 EV/EBITDA of 12.7x. While we believe Resorts World@Singapore (RWS) could trounce consensus forecasts in its maiden year as a casino operator in Singapore in 2010, a peakish market outlook could prompt investors to cash in following GENS' 98.9% ytd price appreciation. We expect GENS to trade in the S$0.90-0.95 range, with the top end having already factored in continuity of the Singapore casino licence and scarcity premium for comparable Asian gaming-consumer plays. As our fair price has limited upside potential, we recommend HOLD with an entry price of S$0.80.

Earnings on a roll. We project GENS' earnings to surge 210.0% and 50.3% to S$295.2m and S$443.8m in 2010-11 as RWS' casino operations go into full swing by 1Q10, ahead of rival Singapore casino operator Marina Bay Sands. GEN could beat consensus forecasts of S$105.3m given its first-mover advantage, and with the partial deferment of expansion of the less profitable non-gaming operations.

Leveraging on Asia's sizeable VIP and Singapore's domestic gaming markets. RWS should be able to capture 5.0% of Asia's VIP market (estimated at US$9b-10b p.a.) and 12.5% of Singapore's gaming market (estimated at S$9b-10b p.a.). This excludes the full grind market potential which RWS could tap from neighbouring countries such as Malaysia, Indonesia, and possibly even China. This is based on the premise of RWS' strong global network, favourable tax structure and strategic location in Asia.

Quick wins and high margins at RWS. The S$5.6b RWS project promises a good payback period of 8-9 years, riding on Singapore's favourable gaming tax structure which gives RWS an advantage over its competitors in Australia and Macau in the high roller segment. Meanwhile, the non-gaming division (principally Universal Studios) should eventually attain decent returns, judging from Universal Studios Japan's achievements in recent years.

UK business' run of bad luck should turn by 2011. GENS' UK business is projected to recover only in 2011 due to the UK's prolonged economic slowdown and adverse regulatory environment. Still, earnings could post apositive surprise as 2008's streamlining and restructuring exercises could save up to £10m annually, but the upside is not significant to group earnings.

Impacts on Genting. We expect Genting's earnings growth to gain momentum in 2010 and 2011, boosted by RWS' contributions. We forecast Genting's 2010 and 2011 EBIT growth at 80% and 17% yoy, mainly as RWS' contribution to group EBIT rises to 32.9% and 37.5% respectively (reversing losses in 2009). We recommend buying into share price weakness (with target price of RM7.60) as Genting will be the cheaper entry point to RWS' future earning growth potential.