Investors encouraged by a good batch of earnings reports and forecasts jumped back into stocks after a two-day slide. The Dow Jones industrial average jumped 132 points and logged the biggest gain of major indexes after Wal-Mart's forecast and as several companies included in the indicator reported earnings that beat expectations.
Stock markets in Thailand and Indonesia fell for a third day on Thursday, with financials and big caps leading the way down.
Indonesia's index ended 1.8 percent lower, weighed down by a 3.5 percent loss in Astra International. Bank Rakyat drifted down 3.9 percent and Bumi Resources dropped 6.2 percent. Trading volume on the Jakarta stock market, Southeast Asia's second-best performer this year after Vietnam, fell.
Crude oil fell from a one-year high on speculation that OPEC members will agree to increase production at a December meeting. Crude oil for December delivery fell 18 cents to settle at $81.19 a barrel at 2:55 p.m. on the New York Mercantile Exchange. On LME Tin was unchanged at $14,450 a ton. Zinc was little changed at $2,230 a ton, lead lost 1 percent to $2,426 a ton and nickel slid 1 percent to $19,550 a ton. Crude palm oil futures higher supported by crude, heavy rain. The benchmark January contract on the Bursa Malaysia Derivatives ended MYR42 higher at MYR2,210 a metric ton, after trading in a MYR2,187-MYR2,224/ton range.
Over all my view is still same, I believed that our economic and global economic continue on positive directions. Economic will getting better time to time and 2010 will be a golden year. This is healthy for market if had corrections but not change the long-term trend. My personal target for our Index was 2650 and DJIA was 11700 for year end 2009.
My Top Pick is Still on Energy, Metal and Telecommunication. Trading ideas for today is BMRI, BDMN, BBRI, UNTR, ASII, ADRO, BSDE, BUMI, ANTM, INCO and BNBR. For Buy and Hold are BUMI, TLKM, ELTY, BNBR, BBNI, ANTM, TINS and INCO.
Cash Management was still my concern. Tightening liquidity and selling pressure from due date fund this week like a mention before will be over. JSX will on consolidation mode with more positive directions.
“The One Who seed – The One Who Yield” by Juntri
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DISCLAIMER: This report is issued by [BRIGHT INFO]. Although the contents of this document may represent the opinion of [BRIGHT INFO]. We cannot guarantee its accuracy and completeness.
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