Tuesday, June 2, 2009

Indices fighting to stay green......

Market are flat lining...on either side of close...

Housing data was very strong.....best monthly increase in seven years....

Gold UP $1.20

Oil down 35 cents

Canadian $ UP another 71 tick against US$....near recent high....

In my portfolio :

Sold AMZN

Sold IPI

Portfolio is MRVL,MPEL,PMCS......

@ 12.09 following are among green :

AMZN,PALM,RCI,AMTD,NDAQ,ISRG,CMED,NDN,
KGC,CTRN,ICE,ABX,EGLE,GG,SNE,VAR,GOOG.

BLOG does NOT give buy or sell.

Saleem

6 comments:

madmax said...

SALEEM

Her is why NYX is selling off:
LONDON (MarketWatch) -- Stock exchanges could face a 20% slump in share trading volumes as the economy starts to stabilize and volatility in the financial sector subsides, one industry watcher said Tuesday.

Speaking at a conference in London, Benn Steil, director of international economics at the New York-based Council on Foreign Relations, predicted the drop could mean 2.5 billion fewer shares changing hands in the U.S. every day.

Steil was a former director of the Virt-x exchange, founding editor of an economics journal and co-founder of a markets consultancy.

"Exiting the crisis may not be something the exchanges are looking forward to," Steil told delegates at the mondo visione exchange forum.

The exceptions are likely to be exchanges with a significant derivatives business, where a return to growth, and a rise in interest rates, could prompt a sharp ramp-up in volumes, he added.

Steil said markets have typically seen equity trading volumes decline as previous crises and downturns, such as the dot-com collapse, have subsided.

He added volumes in financial stocks, which have soared during the credit crisis, have been very closely correlated with volatility, so trading action should begin to slow as volatility drops.

In derivatives, on the other hand, volumes have dried up as firms have needed them less for hedging purposes.

Steil said the current situation in the U.S. and elsewhere is similar to the years Japan spent with interest rates around 0%.

In Japan it was only when inflation expectations rose that derivatives trading volumes recovered as firms decided they needed to hedge their interest rate risks.

Recent trading volumes have born out the comparison. CME Group Inc. /quotes/comstock/15*!cme/quotes/nls/cme (CME 337.39, +7.71, +2.34%) said Tuesday that average daily trading volumes fell 15% in May from a year earlier, though they had improved from April levels.

NYSE Euronext /quotes/comstock/13*!nyx/quotes/nls/nyx (NYX 30.01, -1.11, -3.57%) /quotes/comstock/23r!pnyx (FR:NYX 21.22, -0.91, -4.11%) , on the other hand, said earlier this month that average daily trading volumes in the U.S. in April rose around 38% from a year earlier.

Hugh Brown, head of secondary markets product development at the London Stock Exchange /quotes/comstock/23s!e:lse (UK:LSE 745.00, +16.50, +2.26%) , said he doesn't subscribe to the theory that volumes will suffer as the economy recovers, noting that more participants are coming back into the markets all the time.

He added that even if volumes do fall sharply, the impact on the LSE could be offset by rising share prices.

He said the LSE's trading charges, unlike those of the main U.S. exchanges, are largely pegged to the value of a trade, rather than the number of shares traded.

If shares prices continue to recover, they may offset falling volumes, limiting any impact on the total value traded and the exchange's revenue.

Stocks100 said...

Hi Madmax,

Thanks for NYX info.....

Saleem

madmax said...

SALEEM
You are so on for the direction of the stock market
It is picking up some steam GREEN MACHINE
APPLE and GE are coming back and may close strong again.

Good LUck to all

Stocks100 said...

Hi Madmax,

With age (64) comes some wisdom....

Markets are going higher..believe it or NOT....

Good luck with AAPL & GE....

Saleem

standardshigh said...

Hi All,

BDI ON FIRE! +425 4106

Best Regards

Stocks100 said...

Hi Standards,

Thanks for BDI info!!!!

Saleem