Syd 23:10 GMT August 27, 2006
Australian Finance Minister Nick Minchin Friday said the sale of A$8 billion worth of the government's remaining stake in Telstra Corp. will be the biggest local share offer in seven years.
hong kong nt (recharged) 16:43 GMT August 27, 2006
Gold (loco) -- will long at 620, expect t/p at 650 this week..
Livingston nh 14:24 GMT August 27, 2006
Cape Town - business cycles in the US usually have a "leader" (like FIFO accounting?) - real estate was the leader this time so as the market becomes sated it seems logical that it would be the first to experience weakness -- auto industry, steel with big union layoffs used to be the nellwether when consumers started to slowdown but the post industrial service economy is quite different // unlike the concentrated industrial economy the jobs in the real estate area are fairly well spread out and jobs are the key in every cycle - the last two recessions in the US have had longer intervals between than the recessions of predecessor post WWII business cycles - BUT the employment growth in the last two recoveries has lagged well beyond the formal end of the recession which is unlike the earlier recessions - the US economy has changed over the last twenty years so I doubt that the real estate industry is large enough to bring on a recession (much of the highly touted rise in unsold homes is simply a result of "high price brings out supply")
It wiill be interesting to see if Birinyi has a reliable indicator for stox -- but we still have a loose Fed policy so we shall see if the investment stream that has previously gone to real estate is now directed to stox -- if he is right do we still have a year of economic expansion ahead ???
Hong Kong Qindex 12:02 GMT August 27, 2006
Gold : Trading Reference
... 581.9* - 590.9 - 599.8* // 608.8 - [617.7]* - 626.6 // 635.6* - 644.5 - 653.5* ...
The mid-point reference of the lower barrier at 599.8* // 608.8 is 604.3 and the mid-point reference of 626.6 // 635.6* is 631.1.
Hong Kong Qindex 02:46 GMT August 27, 2006
Crude Oil (October) : The current expected lower trading range is 70.11 - 71.03 - 71.96 and the upper trading range is 73.81 - 74.74 - 75.66. (The neutral zone is 71.96 - 72.89 - 73.81 and it is the most likely trading range). The daily directional indicator is 70.96* - (72.15) - 72.89. The market is negative when it is trading below 70.96*. The distribution profile of super magnets are as follow : - (64.11) - 65.46* - (67.63) - 68.21* - 69.18 - 70.96* - 71.03 - (71.15) - 72.89 - 73.71* - (74.67) - 74.74 - 76.46* - 76.59 - (78.19). A projected supporting barrier is located at 69.69 . A projected barrier is located at [72.90]*. A projected resistant point is positioning at 75.01.
General Remarks : Resistance at [72.90]*
As stated in the "Trading Reference" the market is negative when it is moving away from the center [72.90]*. It is likely that the market will vibrate around [72.90]* with an expected magnitude of 69.97 - 75.83. The mid-point reference of 67.04* - 69.97 is 68.51 and the mid-point reference of [72.90]* - 75.83 is 74.37.
The daily cycle projected series is always a good reference. Initially the market is likely to vibrate around 72.89 with an expected magnitude of 71.96 - 73.81. The lower barrier is expected at 70.11 // 71.03 and the upper barrier is positioning at 74.74 // 75.66. Sell on rallies is the preferred trading strategy.