Saturday, 31 March 2012

Sigh, Chicago PMI below expectation

Dear Friends,

Not that a good news today with Chicago PMI below expectation. we would encourage all to hold our guns before ISM is released on Monday night now. Judging by the figures, we not expecting a good ISM figure on Monday. We do not want to predict how ISM will come out, but chances of a miss is higher now. Though Dow increased by 50 points at noon now, we are not convinced yet.

Our strategy is to be patient now and wait for next week movement. Today is the last day of the quarter, there may be some Big Boys winding their position for the quarter. That may be the reason why some large caps like Apple are down this couple of days.

Enjoy the weekend though after a terrific 3 months run.

Rgds
Daniel

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