Dear Friends,
It has not been a good month so far. Dow Jones has decreased 700 points since the start of November. Looking back, the ISM report and the Non farm payroll that did not beat expectation plays a part in this month downfall. As I have mentioned so many times, ISM is the mother of all enterprise reports and Non farm payroll is the mother of all public reports. When ISM n non farm payroll did not beat expectations, we need to be extra careful as it signifies that other enterprise reports and public reports might be weak this month.
Indeed it has. This month has again reconfirm my conviction that we should always pay attention to the first week of every month! Of course apart from the reports, Europe again played a major role in weakening the stock market. The PMI by China yesterday (same as ISM in USA) didn't help.
My suggestion is to wait for mid of next week, in particular, Wed n Thu. If there is a turnaround, it will happen mid of next week. For December, Jobs report should be better than expectation. My only concern is the ISM report on Thursday. Analysts are expecting a growth of 1.2% from last month. Let us see if it beats....
I will be going to Mr Hu Li Yang seminar on sat at YMCA. Shall brief u on his views of the market.
Btw, becos of the overwhelming response this week, we are having another Singapore Stocks Seminar next week in Chinese.
Date: Wed, 30 Nov 2011: 7pm - 10pm & Thu, 1 Dec 2011 (Pls attend both sessions)
Price: Free
Venue: 141 cecil st, tung ann assoication building #07-02, s(069541)
Tanjong Pagar MRT exit G, walk straight 80 m, opp traffic light
Pls email <Name><Telephone><No of seats> back to book your seats! Confirmation SMS will be sent to u!
Rgds
Daniel
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