WINNING STROKES: THINK DIFFERENT:
Ennore Coke Ltd hit the buyer freeze in the early trade, before cooling down a bit. China had raised export tariff from 20th August, 2008 on coke to 40%, from 25% earlier; the country's official news agency Xinhua said, quoting the State Council's customs tariff commission.China is world's biggest coke exporter, and accounts for 60% of the global coke trade volume:
With the Japanese Economy now showing the signs of slowdown, I am damm sure that the crude will soon touch $100 mark triggering a rally in the world wide bourses. If the Crude Oil touches $80 per barrel, then Sensex will again touch 21, 000. Recent rumour is that, China is going to increase the price of Petrol and Diesel within a short time, which will further pull down the demand for oil.
How long will false apprehensions from storm and empty rhetorics on war, pull the Crude oil up; the truth will ultimatley come to light. It seems as soon as a storm comes in the US, it will damage oil facilities in the US----what a nonsense!!. These apprehensions which is spread by crude oil bulls is not only fake but otrageously misleading. I think next time President Bush will have to think of using Binani Cement (Remember the ad on TV) and Tata Steel to make Oil Depots (facitilities) in the US, if this is the case everytime:
Ram Informatics Ltd today rose up with good volumes after it got a new order. Off late, it has been getting a series of orders from various agencies including various state governments. As mentioned ealier Kajol Devgan and Karvy Stock Broking holds good position in the company. It is going to be a multibagger going forward:
Sunil High Tech has Rs.1300 plus order book position in the first quarter itself: Intra-day calls to the Paid Groups, Infosys Technology Ltd & Axis Bank reached the targets:
Oil flat as dollar trumps Russian tensions:
Concern about wider conflict in Eastern Europe held in check by better read on U.S. economy.
NEW YORK -- Oil prices held steady Monday as a flat U.S. dollar countered worries that tensions with Russia could interrupt the flow of crude between Europe and Asia.
U.S. crude for October delivery rose 5 cents to $114.64 a barrel after the dollar turned slightly higher against the euro.
Eastern Europe: Oil prices inched higher as the Russian government voted to recognize the independence of two breakaway regions from the Eastern European nation of Georgia, home to a key pipeline link.
Investors worried that aggression from Russia could spark a confrontation with the European Union or the U.S.
Despite a stated withdrawal of Russian forces from Georgian territory, tensions remained high."Markets are concerned that if tensions keep escalating, a larger action could be taken by either Russia or the West that could disrupt oil flows in the region," said James Crandell, energy research analyst with Lehman Brothers.
Concerns about supply eased a bit over the weekend as a BP-led consortium resumed operations at the Baku-Tbilisi-Ceyhan pipeline, which carries oil through Georgia to the Caspian Sea.
The pipeline had been disabled by a fire along its Turkish stretch before the conflict between Russian and Georgia began.
The facility resumed normal operations as planned, according to BP spokesman Toby Odone."The problem with the Russians and Georgia has highlighted European dependence on oil from Russia," said Robert Brusca, economist with FAO Economics in New York.
Flat Dollar: The U.S. dollar moved fractions of a penny higher against the euro during Monday trading, as a better than expected read on the U.S. real estate market allayed fears of a weaker U.S. economy.
A real estate trade group said that existing U.S. home sales rose to an annual pace of 5 million in July. Economists had expected an annual rate of 4.9 million.
The real estate market has been one of the factors dragging down the U.S. economy and affecting the strength of the dollar.
Oil futures are traded in dollars, so when the greenback strengthens, oil becomes more expensive for foreign investors. Many also buy commodities, particularly crude oil, to hedge against inflation.
Oil declines were limited however, since the dollar remained down against most other major currencies such as the Japanese yen.
Demand: Investors continued to fear that global economic problems would cut into oil demand.Economic reports last week revealed declines in the 15-nation euro zone economy. A decline in economic activity often heralds a decline in the consumption of oil products as businesses cut back on shipping and people travel less.
The euro's weakness versus the dollar Monday also aggravated concerns about the strength of Europe's economy, which is just one of the factors that the Organization of Petroleum Exporting Countries will need to address when it meets next month.
The oil cartel manages oil production for 12 of the world's oil producers. Escalating oil prices could have a severe impact on the global economy and permanently affect demand - and thus send prices crashing, according to Brusca.
Gold Falls on Speculation Rally Was Overdone;
Silver Declines
What does it indicate???!!!
Gold fell on speculation that last week's 5.2 percent rally was overdone. Silver declined.Last week's gain, the most since July 2006, followed a five-week slide. The metal has dropped 20 percent from a record $1,033.90 an ounce in March, partly because the dollar has rebounded from an all-time low against the euro.
``Gold is a short-term trade,'' said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. ``We've had bottom feeders come in below $800, so now we've got some longs taking money out to start off the week.''
Gold futures for December delivery fell $6.90, or 0.8 percent, to $826.60 an ounce at 10:57 a.m. on the Comex division of the New York Mercantile Exchange. The metal fell 18 percent from July 11 to Aug. 15.
Silver futures for December delivery fell 14.5 cents, or 1.1 percent, to $13.445 an ounce.Before today, silver dropped 8.9 percent this year while gold fell 0.5 percent. The euro still has gained 1.3 percent this year against the dollar.
Investment in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, fell 1.2 percent last week to 651.4 tons. The fund reached a record 705.9 tons on July 11.
Hedge-Fund Positions:
Hedge-fund managers and other large speculators decreased their net-long positions in New York gold futures in the week ended Aug. 19, according to U.S. Commodity Futures Trading Commission data.
Speculative long positions, or bets prices will rise, outnumbered short positions by 112,366 contracts on the Comex, the Washington-based commission said in its Commitments of Traders report. Net-long positions fell by 18,294 contracts, or 14 percent, from a week earlier.
The historical volatility of gold, or the rate at which a price moves up and down, was 26 percent in the past month, compared with 16 percent over the same period a year earlier.
``Prices have been so volatile over the past several weeks that it has been difficult to predict gold's direction,'' said Ralph Preston, a futures analyst at Heritage West Futures Inc. in San Diego. ``Given the fundamental background of deteriorating credit markets and current geopolitical tensions, I am looking for the market to get back to $900.''
Since the second quarter of 2007, banks worldwide have posted $504.1 billion in writedowns and credit losses. Gold peaked this year when Bear Stearns Cos. collapsed.
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