30 July 2015 - 20:37 pm
30 July 2015 - 20:25 pm
Above is Daily Chart of RDY
During Day ,Our Buy call ……..Above 3765 & then above 3819 with Target of 3891————3909
(It zoomed to kiss 3919 in hrs only )
Mint Money in TONS TONS TONS.
Technically Yours/ASR TEAM/BARODA
30 July 2015 - 20:09 pm
I’m not what you would call a “prayerful” type of guy. Even at 30,000 feet, when the air gets rough, I never invoke the “God” word, settling instead for promising myself that if I ever get back to terra firma, I will never fly again, which I promptly forget days or even hours later. It’s not that I’m a non-believer in prayer’s ultimate destination, but more of a cynical take on why the Lord would hand out party favors to everyone that asked, or to those that asked most intently.
I do remember praying nightly as a child though, which might indicate that my mom and dad were better parents than I have given them credit for. I recited the Lord’s Prayer, then followed it up with the standard “God Blesses” – in my case “God Bless Mommie, Daddie, Chip, Lyn, Mamie, Budgie, Brenda, Stinky and everyone in the whole world.” Stinky was my brother’s cat, so named because she used the house as her personal litter box in the days before my parents could buy one at the local “five and dime”. Brenda was the neighbor’s bulldog but warranted a mention ahead of our own Stinky because – well – she didn’t smell. Funny how we prioritize our prayerful moments.
Funny, too I think, about how I learned two different versions of the Lord’s Prayer: one – the Protestant litany – spoke to “forgiving our debts as we forgive our debtors”; the other – maybe a more traditional Catholic influenced version – substituted “forgive our trespasses as we forgive those who trespass against us.” The differences never much bothered me as I prayed less and sinned more into my teenage years, but later I got to thinking about it as I entered the bond market and began to contemplate the odds of paying and being paid, or trespassing and being trespassed against with other people’s money. Given a chance, I thought I would infinitely prefer forgiving a trespasser as opposed to a debtor.
Debtors didn’t necessarily belong in a prison but then they didn’t belong in a prayer either, where forgiveness was akin to abrogation, default, and not getting your good old fashion money back! Over the following years then, my own kids got stuck with “trespasses” instead of “debts” even though I eventually realized – as do you, my more prayerful readers – that they are meant to convey one and the same thing. Still as I wound my way through my bond career, and the inevitable Penn Centrals, Continental Banks, and Lehman Brothers of this business, I had frequent moments of silence, if not teensy prayers, that gave thanks to the Lord for getting most of my (your) money back. Like bumpy air at 30,000 feet though, the next day I was flying again in the bond market but with a slightly firmer grip on the wheel. Life just seems to go that way. >> Read More
30 July 2015 - 19:58 pm
The International Monetary Fund’s board has been told Athens’ high debt levels and poor record of implementing reforms disqualify Greece from a third IMF bailout of the country, raising new questions over whether the institution will join the EU’s latest financial rescue.
The determination, presented by IMF staff at a two-hour board meeting on Wednesday, means that while IMF staff will participate in bailout negotiations currently under way in Athens, the Fund will not decide whether to agree a new programme for months — potentially into next year.
That delay could have significant repercussions, particularly in Germany, where officials have long said it would be impossible to win Bundestag approval for the new €86bn bailout without the IMF on board.
According to a four-page “strictly confidential” summary of Wednesday’s board meeting obtained by the Financial Times, IMF negotiators will “participate in policy discussions” to ensure the eurozone’s new bailout “is consistent with what the Fund has in mind”.
But they “cannot reach staff level agreement at this stage”. The Fund will only decide whether to participate during a “stage two” after Greece has “agreed on a comprehensive set of reforms” and, crucially, after eurozone bailout lenders have “agreed on debt relief”.
30 July 2015 - 18:56 pm
China’s stock market regulator began its most recent press briefing with a telling instruction for the mostly local journalists in attendance. “We have a requirement concerning speculative reports,” said the China Securities Regulatory Commission. “They must first be confirmed by the CSRC in order to prevent the spread of false information and market disturbance.”
The warning was a reminder that as a “national team” comprised of largely state-owned entities struggles to shore up China’s stock market, the government is orchestrating an equally important cheerleading campaign involving a broad array of state media outlets.
Illustrating just how delicate investor sentiment remains despite the government’s all-out propaganda war, the Shanghai Composite Index experienced the second-largest points fall in its 25-year history on the first trading day after CSRC’s remarks. The 8.5 per cent fall on July 27 left the SCI just 200 points above 3,500 — the level at which the government’s rescue effort began in earnest on July 8.
A move below the intervention point would be embarrassing for the national team led by China Securities Finance, the CSRC vehicle fronting a rescue effort estimated to be worth at least Rmb2.2tn ($350bn). One of the team’s key players, the Securities Association of China representing more than 100 state-controlled brokers, has pledged not to sell shares until the SCI has recovered to at least 4,500 points. >> Read More
30 July 2015 - 18:49 pm
US initial jobless claims data report 30 July 2015
- Prior 255k
- Continued claims 2.262m v s2.212m exp. Prior 2.207m. Revised to 2.216m
- 4 week avg 274.75k vs 278.5k prior
Not much here to see any toys thrown out the pram
30 July 2015 - 18:39 pm
The US economy bounced back to life during the second quarter powered by a pick-up in consumer spending and a surge in exports..
The world’s largest economy grew at a 2.3 per cent annualised pace in the three months to June, according to figures released from the Commerce Department on Thursday.
The report – a first snapshot of GDP – comes after a disappointing first quarter that saw the economy grow by a revised 0.6 per cent and is slightly below the 2.5 per cent gain expected by analysts.
The revised first quarter figure wipes out a previously reported contraction.
The department said in a statement:
The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, state and local government spending, and residential fixed investment.
Consumer spending, which accounts for more than two-thirds of US economic activity, grew 2.9 per cent during the quarter, compared to an increase of 1.8 per cent in the previous quarter. >> Read More