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1-Feb-2009-Obama Flays Wall Street For Executive Bonuses

The White House is denouncing Wall Street companies that gave billions of dollars in bonuses while also seeking taxpayer bailout funds to stay afloat.

Earlier in the week, New York state comptroller Thomas DiNapoli reported that the securities industry had paid its employees in New York City $18.4 billion in bonuses last year. However, he also noted that due to the recession, this marked a 44 percent drop from 2007 even though the current bonus amount was still the sixth largest on record.

“The American people understand that we’ve got a big hole that we’ve got to dig ourselves out of — but they don’t like the idea that people are digging a bigger hole even as they’re being asked to fill it up,” said President Obama in response to the news on Thursday.

IN INDIA…

In India after L&T, now B K Modi-led Spice Group wants to acquire a 51% stake in Satyam. Market sources said the IT company will be valued at around Rs 5,000 crore. This means, for 51% stake, the acquirer will have to pay over Rs 2,500 crore. A source at Spice said the company will use its reserves of around Rs 2,100 crore, which it got after selling Modi’s stake in Spice Telecommunication to Aditya Birla Group.

Tags: dow jones, nasdaq, US Markets, world news

INTRADAY CALLS – 30/01/09 – VIJAY

ECONOMIC WOES CONTINUE

ON TOP OF 200 POINTS GAIN ON WEDNESDAY, DOW JONES TOOK  A`U` TURN ON

THURSDAY AFTER FOUR DAYS OF GAIN.  DOW JONES OPENED LOWER AND

CONTINUED ITS FALL TILL THE END OF THE DAY TO THE LOWEST LEVEL OF

8137 AND CLOSED NEAR THE LOW AT 8149 LOSING 226 POINTS.  A BATCH OF

POOR ECONOMIC NEWS, AHEAD OF THE OPENING  BELL WAS ENOUGH TO SPOIL THE

PARTY FOR THE BULLS.   DECEMBER DURABLE GOODS ORDER WAS  DECLINED 2.6%

FOR THE FIFTH CONSECUTIVE DECLINE. NEW HOME SALES DECLINED TO 331000

WHICH WAS WAY BELOW EXPECTATION.  INITIAL JOBLESS CLAIMS BEAT

EXPECTATION AT 588000 AND CONTINUING CLAIMS AT 4.78  MILLION IS

THE HIGHEST IN FOUR DECADES. ASIAN MARKETS ARE WEAK AND NIKKEI IS

DOWN BY 266 POINTS AT THIS TIME, ON TUMBLING INDUSTRIAL OUTPUT.

NIFTY FUTURE ON THE LAST DAY OF JANUARY 2009 SETTLEMENT OPENED

HIGHER AS EXPECTED 2871 (OUR RESISTANCE LEVEL 2869) AND REVERSED

FROM 2872 TO  THE LOW OF 2790 AND CLOSED AT 2823 LOSING 27 POINTS.

JANUARY SETTLEMENT WAS IN A RANGE OF 513 POINTS  BETWEEN 2635

AND 3148 AND LOST 94 POINTS FROM THE CLOSE OF THE PREVIOUS

SETTLEMENT.

DO NOT AVOID SL AND HEDGING IS THE ONLY WAY TO SUSTAIN THE VOLATILE

MARKET.HAVE A PROFITABLE DAY. REPLIES AT THIS COLUMN OR AT

VIJAY.CALLS@YAHOO.CO.IN

OUR STOCK CALLS WILL RESUME SHORTLY.

NIFTY FUTURE SUPPORT LEVELS 2759,2688 RESIST LEVELS 2852,2870,2902.

NIFTY FUTURE MAY OPEN LOWER ON GLOBAL FOLLOW UP IN THE NEW

SETLEMENT. AVOID LONG BELOW 2755 FOR THE DAY.  THE OUTLOOK FOR

NIFTY FUTURE CONTINUE TO BE WEAK AND  A CLOSE BELOW 2600 MAY

TAKE IT TO NEW LOWS IN THE COMING DAYS.

Stock calls : 30-Jan-2009

ABAN OFFSHORE

SHREE RENUKA SUGARS

BHARTI AIRTEL

HINDALCO

MARUTI

NIFTY TECHNICAL CHART

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Tags: day trading calls, intraday stock calls, nifty signals

Stock calls : 29-Jan-2009

NIFTY FUTURE 29 JAN SIGNALS

ABAN OFFSHORE

SATYAM

RELIANCE CAPITAL

AXIS BANK

HDIL

SESA GOA

NIFTY TECHNICAL CHART

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Tags: day trading calls, Intraday, intraday stock calls, nifty signals

INTRADAY CALLS – 29/01/09 – VIJAY

BAD BANK  KEEPS MARKETS RISING

THE U.S. GOVERNMENT`S IDEA OF CREATING A “BAD BANK” MUST HAVE DONE

OUR COMMUNISTS PROUD.  PROMOTING  A BANK TO ACCEPT  THE RISKY (JUNK)

ASSETS HAS CHEERED THE FINANCIAL STOCKS  AND THEY GAINED 13 PERCENT

ON WEDNESDAY AND DOW JONES  OPENED HIGHER AND STAYED ABOVE 8300

FOR MOST OF THE DAY TO TOUCH THE HIGH OF 8405 AND CLOSED AT 8375

GAINING 200 POINTS.   FOMC`S READINESS TO BUY LONGER TERM SECURITIES

TO EASE THE CONDITIONS IN CREDIT MARKETS ADDED TO THE SENTIMENT.

THE FOURTH CONTINUOUS GAIN MAY FACE SOME

RESISTANCE AROUND 8500 AND A CLOSE ABOVE THAT MAY TAKE DOW JONES

TO 9000 LEVELS. ASIAN MARKETS OPENED HIGHER AND NIKKEI HAS LOST

SOME OF ITS GAINS AND IS NOW HIGHER BY 87 POINTS ON WEAKER YEN.

NIFTY FUTURE ON WEDNESDAY  OPENED HIGHER AT 2790,  BRIEFLY SLIPPED

TO 2781 AND RALLIED TO THE HIGH OF 2854 ON SHORT COVERING AND

CLOSED AT 2850  GAINING 85 POINTS.

DO NOT AVOID SL AND HEDGING IS THE ONLY WAY TO SUSTAIN THE VOLATILE

MARKET.HAVE A PROFITABLE DAY. REPLIES AT THIS COLUMN OR AT

VIJAY.CALLS@YAHOO.CO.IN

OUR STOCK CALLS WILL RESUME SHORTLY.

NIFTY FUTURE SUPPORT LEVELS 2763,2704 RESIST 2869,2902. WE HAD

ADVISED NOT TO SHORT ABOVE 2800 YESTERDAY. NIFTY FUTURE MAY

OPEN LITTLE HIGHER ON GLOBAL CUES  AND  BEING THE LAST DAY OF

THE SETTLEMENT WE EXPECT SOME VOLATILITY.  BUT  IT MAY FIND SOME

RESISTANCE AROUND 2900 FOR THE DAY. AVOID SHORT IF IT TRADES

ABOVE 2915. AVOID LONG BELOW 2760 FOR THE DAY.

Tags: daily market report, day trading calls, nifty signals