Latest Posts By richtan
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| 06-Aug-2009 23:25 |
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DOW
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U.S. Initial Jobless Claims Fall More Than Projected (Update2) By Bob Willis Aug. 6 (Bloomberg) -- The number of Americans filing claims for jobless benefits fell more than economists predicted, a sign some employers have stopped paring staff as the recession eases. Applications dropped by 38,000 to 550,000 in the week ended Aug. 1, figures from the Labor Department showed today in Washington, the fifth straight time claims were under 600,000 after being above that level since January. The total number of people collecting unemployment insurance rose. The pace of job cuts isn’t slowing fast enough to keep unemployment from rising. A report tomorrow will show the jobless rate jumped to the highest in 26 years in July, economists surveyed by Bloomberg News predict. Stagnating wages and falling home values also mean consumer spending, about 70 percent of the economy, will be slow to recover. “These numbers signal the worst is behind us, but we are not out of the woods yet,” said David Semmens, an economist at Standard Chartered Bank in New York. “We are not going to see strong consumer spending with numbers that look like this.” Economists forecast claims would drop to 580,000 from a previously estimated 584,000, according to the median of 40 projections in a Bloomberg News survey. Estimates ranged from 550,000 to 600,000. The four-week moving average, a less-volatile measure than weekly initial claims, fell to 555,250 from 560,000 the prior week. Continuing Claims The level of continuing claims increased by 69,000 to 6.31 million in the week ended July 25. The unemployment rate among people eligible for benefits, which tends to track the jobless rate, held at 4.7 percent in the week ended July 25. Eight states and territories reported an increase in new claims, while 45 reported a decrease. These data are also reported with a one-week lag. U.S. employers have eliminated 6.5 million positions since the recession began in December 2007, the most of any downturn since the Great Depression. The Labor Department will probably report tomorrow that the economy lost 328,000 jobs in July, according to economists surveyed by Bloomberg, following a decline of 467,000 in June. The jobless rate probably rose to 9.6 percent from 9.5 percent, the survey showed. Tide ‘Turning’ “The pace of job declines that we experienced in the last several months certainly was unsustainable and it looks like now the tide is turning,” said Carl Riccadonna, a senior economist at Deutsche Bank Securities Inc. in New York. He called 600,000 weekly jobless claims “a key level in the current environment” because they were higher for more than five months until early July. Many companies continue to cut jobs and hours even as economists forecast a return to growth in the current quarter. General Motors Co. may have to cut more U.S. hourly jobs after an offer of buyouts and early retirements fell about 7,500 workers short of the reorganized automaker’s target, Sherrie Childers Arb, a spokeswoman, said in an interview on Aug. 3. She made the remarks after GM announced that more than 6,000 United Auto Workers members, or 11 percent of the hourly workforce, left the company Aug. 1. GM’s latest voluntary exits pushed the total of U.S. hourly workers leaving through buyouts and retirement offers to about 66,000 since 2006. The biggest domestic automaker is shrinking its workforce to match reductions including the shutdown of 14 U.S. plants and 3 warehouses by the end of 2011. Auto Bankruptcies Jobless claims tend to be volatile in late June and July when automakers typically halt production and idle workers to re-equip factories to build new models. GM and Chrysler Group LLC halted production earlier than usual as they worked through bankruptcy proceedings. GM emerged from bankruptcy last month and Chrysler did the same in June. Buckeye Partners LP, the Breinigsville, Pennsylvania-based operator of U.S. oil- and gas-product pipelines, said July 20 that it will eliminate about 260 jobs, or 25 percent of its workforce, because of the “current economic environment” and may sell a conduit in the U.S. West. “We must continuously challenge ourselves, particularly in the current economic environment, to ensure that we are positioned to generate the highest utilization of our assets at the lowest cost,” Forrest E. Wylie, chief executive officer of Buckeye’s general partner, said in a statement on July 20. To contact the reporter on this story: Bob Willis in Washington bwillis@bloomberg.net Last Updated: August 6, 2009 10:22 EDT
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| 06-Aug-2009 23:20 |
Sakari
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Straits Asia
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Sorry, not pouring cold water on SAR, just sharing my view. JMO, I maybe right or wrong, so dyodd n BOSAYOR. Today's white candle is on lower vol than yesterday, not convincing, may still pullback to the 15ema as per my chart below (sorry not updating my chart for posting due to my time constraint). |
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| 06-Aug-2009 23:06 |
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Market News that affect STI
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Hi Kassanne, Listen to the talk on DOW, gold, oil n China mkt: Dow Gives Monthly Buy Signal ...
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| 06-Aug-2009 23:02 |
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DOW
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Cheongwee, Listen to Larry talk on gold, DOW n China mkt: Dow Gives Monthly Buy Signal ...
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| 06-Aug-2009 22:52 |
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DOW & STI
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Dow Gives Monthly Buy Signal ... by Larry Edelson In this week's video, I review the important monthly buy signal the Dow just hit last Friday, plus what's happening in gold, oil, the dollar, and more. To check out the video, click here now. Best, Larry |
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| 06-Aug-2009 22:41 |
Midas
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Midas
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Below is my daily 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. 
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| 06-Aug-2009 22:35 |
Midas
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Midas
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HI risktaker, Making losses is part n parcel of trading, thus why I always remember by heart n abide by the 3 mantras I learnt from TA books: (1) Remember, the trend is your friend, never, never go against the trend, we need to know the short-term, mid-term n long term trend n trade accordingly (2) Plan your trade n trade your plan, which means we need to analyse the chart for buying opportunities (TA skills needed, though not infallible) n set out stop-loss point b4 enter a trade (3) Cut losses short n let profit runs with trailing stops, we need to let profit runs as much as it can to cover all the losses made n yet make net gains. When we hit the cut-loss, never be emotional, be mechanical, immediately exit n never regret even if later it goes up bcos if dun cut, wat if it continues to go down, preserving ammunition to fight another day is the key. We can It is my firm belief tat there is no easy way out in life, including trading, we need to learn the tools of the trade (be it any
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| 06-Aug-2009 18:48 |
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Market News that affect STI
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Read today's Straits Times, "Money Section" page B16: Citigroup up forecast for Singapore economy |
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| 06-Aug-2009 18:45 |
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Market News that affect STI
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Read today's Straits Times, "Money Section" page B14: DOW rally for real? "Big money" thinks so... |
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| 06-Aug-2009 17:52 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Look how frigid is STI, tends to follow the down but not the up, hopefully, tomoro up as it should have cooled down from overheating n yesterday n today bounce up from near the 15ema :
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| 06-Aug-2009 17:29 |
Midas
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Midas
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| 06-Aug-2009 17:00 |
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Market News that affect STI
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Hahaha... should "Give the BBs a Viagra" not "Give tat man a Tiger".
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| 06-Aug-2009 16:58 |
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Market News that affect STI
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STI looks like frigid leh, cannot stand long enuf, just last a short while, now again lembeh liow, how to "STAND UP" for Singapore
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| 06-Aug-2009 16:36 |
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Market News that affect STI
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| 06-Aug-2009 16:14 |
Midas
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Midas
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Oh comom, losing 4000 is penuts to me, at one time, I lost more than 50,000, real nightmare to me n wake-up call n resolve to make back all these lost money thru proper knowledge of TA n FA n money management. As I say, click on my nick n read all my advices.
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| 06-Aug-2009 16:10 |
Midas
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Midas
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R u refering to the Buy n sell q, dun trust those figures, at most times are fake n can pump in n withdrawn anything to create a false impression. Look at the Trade Summary n monitor and analyse it, at times it appears sell-down but look at thing s in perspective it could be just bcos of correction. I had mentioned all this too many times, click on my nick n take your time to read n u will be more the wiser. Knowledge is power.
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| 06-Aug-2009 15:51 |
AusGroup
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AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m
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Look at my chart posting earlier, bullish flag continuation pattern formed n also cup aredi formed n now in the process of forming the handle, once break above the brim of the cup at 66, all hell will break loose, it will heads upwards towards 0.945 to 1.05. This is just my chart analysis, so dyodd n SOBAYOR |
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| 06-Aug-2009 15:42 |
Midas
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Midas
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No doubt about it, but whether 1.00 by end of this month, I dun know. Look at my chart posting, it is in the process of forming a giant cup with the brim of the cup at 1.19, yet to form the handle. When handle formed, will be even higher than 1.19 for sure, but this is just my chart analysis, so dyodd n SOBAYOR
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| 06-Aug-2009 15:35 |
Midas
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Midas
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IMO, it is still not too late to buy back but set your stop-loss if it breaks n close below the 25ema (see my chart below" in earlier post, but hor dyodd n SOBAYOR. Remember my 3 golden mantras, do a search under my nick n "golden mantras", one of which is "Cut losses short n let profits run with trailing stops"
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| 06-Aug-2009 15:25 |
Midas
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Midas
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Cool man, dun scold yourself stupid. No one is stupid, if willing to learn. I too was stupid once, many years ago, but now wiser after realising trading needs hardwork, trading on guts-feel, n listening to MFTS will be our doom. I always say: "Master TA n u are the master of your trades", n "Learn how to fish n u can fend for yourself forever but relying on others n u will always be at the mercy of others"
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