Unstructured Finance

SENSEX – Bumping on support. Gold – Hitting resistance

August 31, 2008

image003.gifFor more regular technical updates please see my website www.reutersindia.net
The SENSEX moved up off longer term support at 14,097 to bump up against resistance at 14,645 on Friday. You can see these levels marked on the two charts on the left the first is short-term, the second longer-term. The short-term trend indicators we have had are marked with arrows on the first chart and the latest ones on the Parabolic-SAR and MACD studies are now bearish as you can see. The Alpha Beta trend is now neutral from bullish. So, the near-term indicators are pointing down and we need to keep a close eye on these supports carefully as it might mean this small downtrend we are currently seeing may be short-lived. So far, they are holding well.
image005.gifThe second chart shows the longer term chart support being the 38.2 pct Fibonacci retracement of the entire SENSEX upmove. We are on very significant support and this is why the market is holding up despite the bearish indicators.

“Fashion Foreclosure” and the case for the Maxi dress

August 29, 2008

maxi11.jpgHow to stop shoppers from “fashion foreclosure?” Give them what they need, make it fun, and provide them with an element of escape, argues The Doneger Group’s David Wolfe.

Check Out Line: Wal-Mart cuts prices in Canada

August 29, 2008

walmart-milk.jpgCheck Out Wal-Mart’s price cuts for eggs, milk, butter and bread in Ontario, Canada.

Getting online in Europe

August 29, 2008

A man browses web at an Internet cafe in MadridWith tens of billions in the bank collecting dust since its failed bid for Yahoo, and the elusive promise of the Internet still beckoning, Microsoft returned to the market for Internet search businesses with a $486 million purchase of Greenfield Online, the U.S.-listed owner of European price comparison website ciao.com. The buy is meant to help lift Microsoft out of fifth place in the European search market by giving a boost to its Live Search platform. Google‘s monster lead in the search market is a whopping 62 percent and 79 percent in Europe, according to the most recent data published by Web usage tracker ComScore. Microsoft has a 2 percent market share in Europe and 9 percent worldwide, behind both Google and Yahoo. In Europe, Microsoft is also outranked by online auction site eBay and Russia’s Yandex.

World’s most 100 most powerful women include finance queens

August 28, 2008

sheilabiar.jpgForbes Magazine has released its list of the 100 most powerful women in the world today. Making the ranks?

Private equity pros if Romney picked?

August 28, 2008

mitt.jpgMitt Romney left private equity firm Bain Capital nearly a decade ago. But if the former Massachusetts Gov. is chosen as McCain’s running mate it could push the industry back into the public spotlight anyway. Romney left the firm in 1999 to take over the Salt Lake City Winter Olympics, but he built his reputation — and his fortune — during his 15 years at the buyout firm.

Bove: Lehman saga ending soon

August 28, 2008

lehmanbrospic.jpegRichard Bove is really hammering home a point about Lehman Brothers: The investment bank has big problems that it better deal with it soon.

The tequila sunrise could soon set

August 28, 2008

agave.jpgInvestors — and drinkers — got sobering news on Thursday when Brown-Forman described how agricultural difficulties rocking Mexican farmers hurt the bottom line of the company, which is based in Louisville, Kentucky.

The first stage: denial

August 28, 2008

ostrich.jpgAfter the pummeling U.S. banks have been taking from the credit crunch, you’d think British bankers would try to learn from the mistakes of their U.S. counterparts. Not so, writes the New York Times’ DealBook. A majority claim they have made no changes to their strategy, according to a survey to come out next week. That might be par for the course as British banks face turmoil: denial is the first of the Kuebler-Ross stages of coping with grief.

Check Out Line: Mixed messages from retailers

August 28, 2008

Check out retailers’ profits and forecasts.

A discerning shopper, or investor for that matter, could browse the aisles of the retail financial world and come away with very different messages on the strength of the U.S. economy depending on which company’s results they chose.