WINNING STROKES: THINK DIFFERENT:
Northgate Technologies Ltd hit the buyer freeze in the opening trade with good volumes. The stock has been constantly recommended in this
blog due to some important developments in the company.
blog due to some important developments in the company. Sanguine Media Services Ltd generated good volume today as the stock closed flat. The company is expected to come up with very good results in Q3FY10 (December, 2009 quarter).
SAAG RR Infrastructure Ltd mentioned in the latest Sunday Report sent to the Paid Groups as a strong buy, even as one of the noted operators from Bombay had given a sell call in one of the Bombay based publications, hit the 2nd consecutive buyer freeze. It needs guts to recommend a scrip when others are giving sell calls.....
Atlanta Ltd recommended to the Paid Groups around Rs.77--80, today closed at Rs.150.55. When I recommended the scrip a couple of months back many were apprehensive of my recommendations.
Phoenix International Ltd hit the 2nd consecutive buyer freeze. The company came out with better than expected results for Q2FY10. The company is thinking of venturing into new business.
NEPC India Ltd closed flat after mild profit booking was advised in the counter. On the other hand most of the Paid Members were also to exit the stock of HDIL due to some recent developments. The messages were sent through Yahoo Messenger during the market hours.
The US Stocks rise following drop in jobless claims
Drop in weekly jobless claims, rise in sales of new homes lift investors' hopes for economy.
NEW YORK -- Stocks climbed Wednesday following a drop in weekly unemployment claims to the lowest level of the year and a rise in new home sales.
The market's gains were modest on light trading volume ahead of the Thanksgiving holiday.
The government said new claims for unemployment insurance fell by 35,000 last week to 466,000. That's the fewest claims since September last year, and better than the 500,000 that economists had expected.
The drop in claims suggests the job market is healing, but concern remains that the improvement will be temporary as the weak economy continues to push unemployment higher. The jobless rate hit 10.2 percent in October and many analysts believe it will keep rising before starting to improve next summer.
In other economic reports, new home sales rose 6.2 percent to an annual rate of 430,000. That's above what economists surveyed by Thomson Reuters had expected.
Separately, the government also reported consumer spending rose a brisk 0.7 percent last month, following a 0.6 percent drop in September. It was the best showing since August, when the government's now-defunct Cash for Clunkers programs enticed people to buy cars.
Not all the day's news was upbeat. Orders for expensive manufactured goods dropped 0.6 percent last month, the first drop since August. Economists had expected orders would grow.
Doug Roberts, chief investment strategist at Channel Capital Research in Shrewsbury, N.J., said investors are still worried about the sustainability of a recovery but are afraid of missing more of the market's eight-month rally.
"People may not believe in this market but they're reluctantly being pulled into it with each of these reports," he said.
According to preliminary calculations, the Dow Jones industrial average rose 30.69, or 0.3 percent, to 10,464.40.
The broader Standard & Poor's 500 index rose 4.98, or 0.5 percent, to 1,110.63, and the Nasdaq composite index rose 6.87, or 0.3 percent, to 2,176.05. [From Internet]
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