Short selling ist verboten
May 19th, 2010 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 10,510.95 | -114.88 | -1.1% |
| NASDAQ | 2,317.26 | -36.97 | -1.6% |
| S P 500 | 1,120.80 | -16.14 | -1.4% |
| FTSE 100 | 5,307.34 | 44.8 | 0.9% |
| Nikkei 225 | 10,242.64 | 6.88 | 0.1% |
| ASX 200 | 4,470.00 | 3.5 | 0.1% |
| COMEX Gold - Dec 09 | 19.03 | 0.166 | 0.9% |
| COMEX Silver - Sep 09 | 303.1 | 9.9 | 3.4% |
| COMEX Copper - Sep 09 | 69.5 | -0.58 | -0.8% |
| WTI Spot | 0.8645 | -0.0132 | -1.5% |
| AUD-USD | 0.924 | 0.0039 | 0.4% |
| Aluminium | 2,005.50 | -5.5 | -0.3% |
| Copper | 6,605.50 | -115.5 | -1.7% |
| Lead | 1,795.50 | -68.5 | -3.7% |
| Nickel | 21,475.00 | 425 | 2.0% |
| Tin | 17,105.00 | -595 | -3.4% |
| Zinc | 1,893.00 | -75 | -3.8% |
The Dow Jones Industrial Average fell 114.88 points, or 1.08%, to 10510.95, its lowest close since May 7. U.S. stocks fell broadly Tuesday, with American Express, Boeing and Intel among the decliners as jitters intensified over Europe's ability to control a debt crisis.
The Euro and stocks extended losses as Germany’s financial-services regulator said it will introduce a temporary ban on naked short selling and naked credit-default swaps of euro-area government bonds starting at midnight. The ban will also apply to naked short selling in shares of 10 banks and insurers that will last until March 31, 2011. This action makes it look as if the Germans are worried about something behind the scenes, that the market is not aware of.
On the local front SFE 200 futures is suggesting an open somewhere around 4440 down around 52 points. With a strong lead from the base metals overnight the major resource plays on our market today should hold their ground and try and find support thought out the session. On the other hand the financials may find themselves under pressure as the doubt over the euro debt crisis may cause a run in the sector.
You may be asking yourself when will the pain end! From a technical perspective the XJO has a major support level at 4400. This level previously created a lot of congestion back in August-September 09. Hopefully investors will find value in the market at this level.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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