Update Daily Investment News

Inflasi Indonesia bulan Januari 2010 0.84% (diatas prediksi 0.7%) m/m, 3.72% (diatas preediksi 3.6%) y/y, core inflation 4.43% diatas prediksi 4.40%.

Asia ‘Top’ Shows Stock Market Rally Is Over: Technical Analysis
(Bloomberg) -- Asian stocks may decline for months after forming a “top” that signals the end of a 10-month rally, according to Elliott Wave International Inc. Benchmark indexes across the region have completed either three- or five-wave patterns showing that their gains are over, the researcher said in its February Asian-Pacific Financial Forecast report. The rally’s duration and divergence in both momentum and sentiment also signal a downturn, it said.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aF.jzlPKiTKw

Thai Stocks Set to Rebound on RSI Signal: Technical Analysis
(Bloomberg) -- Thailand’s stocks are poised to rebound from the longest losing streak in more than five years as a momentum indicator signals that equities have been “oversold,” according to Tisco Securities Co. The benchmark SET Index’s 14-day relative strength index, or RSI, sank to 27.77 yesterday, the lowest since Oct. 29, 2008, according to a data compiled by Bloomberg. A drop in the RSI, a moving average based on how rapidly prices gain or retreat, below 30 indicates to analysts that prices are set to rebound.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a5i7wZqrYpTU

Euro Falls to Six-Month Low Versus Dollar on Greek Debt Concern
(Bloomberg) -- The euro fell to the lowest level in more than six months against the dollar on concern Greece’s fiscal struggles will spread. The yen dropped on speculation Japan’s central bank will act to curb its strength. The euro headed for a third week of declines versus the dollar and the yen as the cost to protect Greek government bonds from default climbed to a record and investors bet a report today will show the region’s unemployment rate rose to an 11- year high. The yen slipped against 15 of its 16 most-traded counterparts tracked by Bloomberg after Bank of Japan Governor Masaaki Shirakawa said he is ready to act to stabilize markets.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=amXBZvyrqZdc

Goldman Sachs Tops JPMorgan as World’s Best Broker
(Bloomberg) -- The near darkness behind the bulletproof doors of a windowless Secaucus, New Jersey, warehouse is humming with tens of thousands of computers as U.S. exchanges open on a December Friday. Brokerages and trading firms, battling for the fastest access to capital markets, lease space at this Equinix Inc. center and others to place their machines as close as possible to stock exchange computers. The practice, known as co-location, is one way firms are vying to win fractions of a second -- the difference between getting a trade and missing it.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNykT4DvHd9A

China’s Shanghai Index May Drop to 2,500, ISI Says
(Bloomberg) -- China’s benchmark stock index may fall as much as 16 percent from today’s close, as the central bank begins raising interest rates to temper inflation, said Donald Straszheim, director of China research at International Strategy & Investment Group. “I would not be at all surprised to see it at 2,500 or thereabouts by mid-year but not because it’s overheated but simply because interest rates are going to be rising, policy is going be leaning against the wind to slow inflation and to slow the economy,” Straszheim told Bloomberg Television in Hong Kong. “That’s usually bad news for equities in the short run.”

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aYJW.5nq5QGE

Farrell: Time For A Correction?

http://www.cnbc.com/id/35142664

25-50% Market Correction in 'Month or So': Financial Pro
By: JeeYeon Park CNBC News Associate
Stocks opened higher on Friday, the final trading day of January, after the GDP report showed the economy grew more than expected in the fourth quarter. However, Dan Deighan, founder of Deighan Financial Advisors, and Bill Spiropoulos, chief executive of CoreStates Capital Advisors, warned investors to brace for a market correction.

http://www.cnbc.com/id/35143567

Wall Street Week Ahead: US Stocks Set for a Down Year?
By: Reuters
The adage "as January goes, so goes the year" bodes ill for equity investors after the S&P 500 closed out its worst month in almost a year. This week, they will have to contend with fears of sovereign defaults and potential unpleasantness in the U.S. labor market as well. U.S. corporations have so far handily beat analysts' earnings forecasts. With heavyweights like Exxon Mobil [XOM Loading... () ] and United Parcel Service [UPS Loading... () ] set to report this week, investors will be looking for that to continue, going some way to offset the perception that political risk is on the rise.

http://www.cnbc.com/id/35175189

ONG Focus - Technical
Written by Oil N' Gold |
Gold' fall from 1163 continued last week and is reached as low as 1075, breaking 1075.2 support briefly. INitial bias remains on the downside this week as long as 1105.1 minor resistance holds As noted before, whole decline from 1127.5 should be resuming and a break of 1075.0 will target 100% projection of 1227.5 to 1075.2 from 1163 at 1010.7 next. On the upside, above 1105.1 will turn intraday bias neutral and bring recovery. But upside should be limited below 1163 resistance and bring fall resumption.In the bigger picture, gold has made a medium term top at 1227.5 and correction from there is likely still in progress to 100% projection of 1227.2 to 1075.2 from 1163 at 1010.7, which is close to 1000 psychological level. However, we'd expect such correction to be contained there at around 1000 psychological level and bring resumption of the whole up trend from 2008 low of 681. A break above 1163 will indicate that such correction has completed and will turn outlook bullish for another high above 1227.5. In the long term picture, rise from 681 is treated as resumption of the long term up trend from 1999 low of 253 after interim consolidation from 1033.9 has completed in form of an expanding triangle. Next long term target is 100% projection of 253 to 1033.9 from 681 at 1460 level. We'll hold on to the bullish view as long as 931.3 structural support holds.

ONG Focus - Technical
Written by Oil N' Gold |Nymex Crude Oil (CL)
Crude oil's decline from 83.95 was still in progress and reached as low as 72.43 last week. With 4 hours MACD crossed below signal line again, crude oil should be regathering down side momentum. Initial bias remains on the downside this week and further fall should be seen to retest 68.59 support next. On the upside, though, above 75.04 will indicate that a short term bottom is formed, possibly with bullish convergence condition in 4 hours MACD. Stronger rebound should then be seen. In the bigger picture, the case of medium term reversal continued to build up with fall from 83.95 extended. As noted before, whole medium term rise from 33.2 is viewed as a correction to fall from 147.27 only. Break of trend line support (now at 71/72) level will be the first signal that such rise has completed. Further break of 68.59 will support will confirm this bearish case and will target a retest on 33.2 low as correction down trend from 147.27 resumes. On the upside, though, in case of another rise, crude oil we'd continue to look of reversal signal as crude oil approaches 50% retracement of 147.27 to 33.2 at 90.24, which is close to 90 psychological level. In the long term picture, there is no change in the view that fall from 147.27 is part of the correction to the five wave sequence from 98 low of 10.65. While the rebound from 33.2 is strong and might continue, there is no solid evidence that suggest fall 147.27 is completed and we're still preferring the case that rebound from 33.2 is merely a corrective rise only. Having said that, strong resistance should be seen between 76.77/90.24 fibo resistance zone and bring reversal for another low below 33.2 before completing the whole correction from 147.27.