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Wednesday, October 26, 2011

U.S. Stock Boost Consumer Confidence

Amid the lack of trading interest, CSPI successfully closed in positive territory, gained 28.129 points to position 3738.607. Foreign buying reached 230 billion Rupiah to support the strengthening of the index. The value of transactions in Regular yesterday only reached 2,94 trillion Rupiah. The minimal value of the transaction indicates that many market participants take the attitude of wait and see. They are still waiting for better development of the global market.

The high fear of failure in addressing the debt crisis Greece has been holding interest in buying market participants. Meanwhile, a positive catalyst in the market comes from the issuer's performance this year's third quarter which recorded a profit growth above the average. Last night on Wall Street stock market closed in positive territory. DJIA index rose 1.39% and the S & P 500 rose 1.05%. Precious metal commodity prices also rose again reached USD1723, 50/t.oz. While crude oil prices fell kee USD90, 2/barrel.

The stock market on Wall Street last night reacted positively after China reportedly will help Europe to invest their funds in EFSF. The funds will be used to shore up funding for countries in the region who were in debt crisis and also helped the banking there. While the German Parliament has also approved an increase in bailout funds to strengthen the EFSF. In other developments, a number of U.S. economic data coming out indicate positive growth. Sales of new U.S. homes rose in September after a four months before declining.

The improvement in the U.S. stock market is expected to positively impact the movement of Asian stock markets today. This course also will increase market participants regain confidence in the domestic stock market to re-accumulate sectoral shares. Today, JCI is expected to move within the range of about 30-70 points with a tendency to continue strengthening. Targeted strengthening of JCI will test the level of 3800 and the support seen in 3698.

S1 JCI 3698; S2 3650; R1 3759; 3780 R2

Stock options:
EARTH 2175-2400 Trading Buy
Buy BJBR 990-1110
TINS 1870-1960 Trading Buy
BORN 960-1080 Trading Buy
Buy SMCB 1850-1910
ADRO 1970-2150 Trading Buy
SGRO 2900-3050 Buy
SSIA 400-445 Trading Buy
BKSL 275-310 Trading Buy
PGAS 2775-3175 Sell on Strength

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