Monday, April 5, 2010

Update Daily Investment News

Indonesia Stock Index Climbs to Record on Interest Rate Outlook

Indonesia Hot Stocks-Banks rally on rate expectations
JAKARTA, April 5 - Shares in Indonesia's four biggest banks jumped by between about 1 and 10 percent on Monday on expectations that the central bank will keep interest rates unchanged in move that should support higher bank lending.

Chinese Premier Wen to Visit Indonesia April 23-24 (Update1)
 (Bloomberg) -- Chinese Premier Wen Jiabao plans to visit Indonesia April 23-24 to strengthen economic ties and boost investment in the Southeast Asian country, Indonesia’s Coordinating Minister for the Economy Hatta Rajasa said.

Indonesia's Bumi hit by charges, outlook cloudy
* Q4 net loss $169.77 million - Reuters calculations
* FY net profit $190.45 million, down nearly 50 pct
* 2009 average coal price $62/tonne vs $73/tonne in 2008
* Tax bill, China investor talks weigh

Indonesia's Bhakti Investama buys Papua oil block
JAKARTA, April 5 - PT Bhakti Investama , an Indonesian investment company owned by tycoon Hary Tanoesoedibjo, said on Monday that it had acquired an offshore Papua oil and gas field with 1 billion barrels of oil reserves.

Indonesia May Bet Slower Inflation Buys Time to Keep Rate Low
(Bloomberg) -- Indonesia’s central bank may refrain from raising interest rates from a record low this week, betting that inflation isn’t yet enough of a threat to require higher borrowing costs.

China Stocks to Gain on Moving Average: Technical Analysis
(Bloomberg) -- China’s stocks are poised to extend gains after the benchmark Shanghai Composite Index breached its 100-day moving average last week, according to DMG & Partners Securities Pte.

How High Could Dow Jones Industrial Average Go?
Dow 11,800?
The following metrics are scenario analysis, which list the potential Dow Jones value based on different P/E and EPS. DJIA = P/E x 30 Dow Component Companies’ Total EPS / 0.1323.

Morici: Dow Headed for 12,000
By: Peter Morici, Professor, Smith School of Business, University of Maryland
Stocks prices have enjoyed a lot of help in recent months.A moderate recovery-three percent GDP growth expected this year and next-and more robust growth in Asia are good for the profits of large U.S. multinationals.

Trader Talk: Stocks' Melt-Up Continues
Stocks look to continue the melt-up to new highs today. Futures were up slightly as commodities and commodity stocks rally. A number of commodities are hitting new highs this morning: crude oil, gasoline, heating oil, copper and platinum.

Will the Fed Raise the Discount Rate Again?
Economists are speculating that the Federal Reserve may raise the discount rate again during its board meeting on Monday. How will this move impact markets? George Dowd, director at Newedge, shared his insights.

Four Stocks That Seem Ready to Rebound: John Dorfman (Update1)
(Bloomberg) -- NutriSystem Inc. went on a starvation diet in the first quarter, losing 42 percent. I think it has an excellent chance of bulking back up in the next year.

Bulls Increase With Buybacks Signaled by Profit Surge (Update1)
(Bloomberg) -- U.S. companies are sitting on a record pile of cash after spending the lowest proportion of their profits on stock buybacks since 2003, a sign that repurchases may propel the equities rally as earnings recover.

David Rosenberg: Here's 7 Economic Stats You Shouldn't Believe
welcomes you back to work with seven economic datapoints requiring you to look behind the headlines.;_ylt=AqhQopv0e2W9Nvuxj7r6Z8G7YWsA;_ylu=X3oDMTE1ZWFzdTZ0BHBvcwM4BHNlYwN0b3BTdG9yaWVzBHNsawM3ZWNvbm9taWNzdGE-?x=0&sec=topStories&pos=6&asset=&ccode=

10 Reasons to Stay Bullish -- Part 2
Investors are scared of stocks. On the heels of a terrible decade -- a decade that culminated in the worst bear market in 80 years -- it's no wonder investors are afraid of the market.

Palm Oil Declines, Erasing Gains, on U.S. Soybean Crop Outlook
(Bloomberg) -- Palm oil futures declined, erasing earlier gains, on concern a record soybean crop will reduce the need for substitutes.

RBA’s Next Move on Interest Rates ‘Very Close Call’ (Update1)
(Bloomberg) -- The Reserve Bank of Australia’s next policy move is a “very close call,” with economists and investors divided on whether Governor Glenn Stevens will raise interest rates for the fifth time in six meetings.

Copper May Surpass $8,000 for First Time Since 2008 (Update2)
(Bloomberg) -- Copper futures in London may advance to more than $8,000 a metric ton this week for the first time since the collapse of Lehman Brothers Holdings Inc. in 2008, buoyed by a revival in demand that’s more than doubled prices.

Market Flash

Written by Oil N' Gold | Thu Apr 01 10 08:07 ET
Nymex Crude Oil (CL)
Crude oil rises to as high as 84.70 so far today and the decisive break of 83.16 confirms that rise from 69.50 has resumed. Intraday bias remains on the upside and further rally should be seen to 61.8% projection of 69.50 to 83.16 from 78.56 at 86.92 next. On the downside, below 82.36 minor support will turn intraday bias neutral first. But after all, break of 78.56 support is needed to be the first sign of topping. Otherwise, outlook will remain bullish. In the bigger picture, crude oil is still trading well inside medium term rising channel and the rise from 33.2 is still in progress. Nevertheless, as such rise from 33.2 is treated as a correction to whole decline from 147.27 only, we'd continue to expect strong resistance near to 50% retracement of 147.27 to 33.2 at 90.24 to bring reversal. On the downside, though, break of 69.50 support will now indicate that crude oil has topped out in medium term already and turn outlook bearish.

Written by Oil N' Gold | Thu Apr 01 10 08:09 ET
Comex Gold (GC)
Intraday bias in Gold remains mildly on the upside for 1133.3 resistance. As discussed before, price actions from 1131.5 are likely merely consolidation to rise from 1044.5 only and should have completed at 1084.8. Break of 1133.3 will suggest that rise from 1044.5 is resuming for 1163 resistance next. On the downside, though, below 1084.8 will revive the case that rebound from 1044.5 is finished and will flip intraday bias back to the downside for retesting this support. In the bigger picture, price actions from 1227.5 are treated as correction to rise from 931.3 only, no doubt. the lack of impulsive structure of rise from 1044.5 argues it's possibly part of consolidation from 1227.5, rather than resumption of the long term up trend. Above 1145.8 will bring retest of 1227.5 high but upside will likely be limited there and bring at least one more fall before the consolidation concludes. On the downside, below 1084.8 support will shift favors to the case that correction from 1227.5 is developing into a three wave move with another low below 1044.5.

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