DISCLAIMER

This research report is prepared by PT MINNA PADI INVESTAMA Tbk for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments. The report has been prepared without regard to individual financial circumstance, need or objective of person to receive it. The securities discussed in this report may not be suitable for all investors. The appropriateness of any particular investment or strategy whether opined on or referred to in this report or otherwise will depend on an investor’s individual circumstance and objective and should be independently evaluated and confirmed by such investor, and, if appropriate, with his professional advisers independently before adoption or implementation (either as is or varied).

Minggu, 01 September 2013

Morning Dew - September 2nd 2013

Key Points
  • August ended with major exchanges suffering from steep decline. The JCI plunged over 10%, the same goes with the LQ-45 and IDX30 indexes which fell 11% and 12%, respectively. US and European stocks were also under pressure throughout the week. In the end, the Dow fell 4%, S&P 500 slipped 3% while the tech-heavy NASDAQ edged  1% lower. Currently, the major issue surrounding the market is the upcoming Federal Reserve meeting which is expected to deliver a reduction in stimulus for the first time and will be the first of the series. Another lingering issue is the potential strike on Syria by US despite the absence of most of American allies.
  • The first week of September will be featuring key data such as the US nonfarm payrolls and ISM reports for both manufacturing and non-manufacturing sectors; while the European PMI data are also set for release. In Asia, China will release their PMI data as well. Still, the key event in September will be the FOMC meeting in mid-month. It's no longer a question of whether there will be a stimulus cut or not, but rather, a question of how much to be tapered off from the current stimulus package.
  • The reco performance nosedived in August as six recos got their stops triggered. Steep decline of JCI brushed off IMAS, BBRI, WSKT, ACES, ASRI and ULTJ out of the pool, leaving just five outstanding currently (ARNA, MDLN, PGAS, JPFA and PTPP). As the downside pressure is expected to ease off, the performance gets better during the last few days in August. No change in view and no recos added for now.
  • Technically speaking, the recent rally has been supported by a rising volume, so it is expected to resume some more this coming week. Resistance lines come in at 4239-4261, followed by 4373 and 4563. Downside is seen supported by the retracement levels of the rally from 3837 to 4195. These are 4110, 4058, 4016, 3973 and 3921. The fall of the Dow on Friday may see the JCI to step back a bit to 4110 or 4058 at the most.
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Diposting oleh di 10.36
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