Good morning, readers. As the DOW passed 16,000 yesterday, I didn't write anything at that moment. Regular readers of my column/blog will surely know that I was one of the few to suggest the DOW would go past 14,000 - then past 15,000 (the magic of 15,000) - and only recently 16,000. I was of the view that the DOW could even do 17,000 this year, in the next five weeks or so. A thousand points in say 25 working days, is it possible? I shall wait to assess the markets further before I would commit to such a suggestion.
In the meantime, I imagine a lot of punters will take some money off the table, and put into alternative markets. India SENSEX has seen more inflows in last few days.
If not this year, then certainly I believe the DOW will hit 17,000 in next few months, on the proviso that the feel-good is assisted by the candy distribution, on which the panel will decide in the US this week.
That's all for now.
I wish joy and success to all my readers, in Netherlands, Fuzhou, California, India, Kenya, Tokyo, etc, etc.
Caveat : Everyone trades entirely at their own risk, I am merely sharing my views.
(c) Copyright 19th November 2013, Durudarshan H. Dadlani.
Remembrance Day at the Ilford chapel of the Church of Jesus Christ of Latter Day Saints was marked by the Bishop and congregation paying respects to the memories of the heroes and heroines who gave their lives in the quest for freedom from tyranny and injustice.
How great a freedom we enjoy today as citizens of England is all due to the heroes and heroines who laid down their lives, as well as those valiant men and women who helped negotiate peace and brought forward this day into being.
Brother Jeremy Boyden : "We remember all those who made the ultimate sacrifice, like our Saviour, and we mark this day when peace was first agreed between all nations, on 11th November 1918".
The President's wife Sister Saltzman read a poem about Flanders Fields.
The Bishop's son, Brother Michael Onaolapo Jnr : "Greater love hath no man then He who gave up His own life so that others may live."
Sister Shannon Pickering, who was baptised in the Ilford ward two weeks ago, spoke a few words about the loving atmosphere that prevails in this land, thanks to people like her gransparents who did their bit during the war.
Sister Joanne Boyden read a famous poem, starting The glory shines upon my tears....She read the bit about hopes and expectations and stars and then became very emotional. (I asked her later; she explained that her Mother lost two brothers in the war). (For the Fallen, Robert Laurence Binyon).
Brother Michael Lighten paid tribute to the great example of Captain Noel Godfrey Chavasse, recounting events in the Captain's life in the Royal Army Medical Corp, who had to combine civilian with military duties at the front, where he saw within a few hours 189 casualties out of 600. Captain Chavasse worked behind enemy lines for four hours, just 500 yards to safety. On another occasion just 25 yards from enemy trenches. Altogether, Captain Chavasse saved the lives of approximately 20,000 men.
On another occasion, he worked with protection against an attack of mustard gas.
Noel picked up his torch, and rose up in his time, working against impossible conditions of mud, blood and water. Captain Chavasse was decoated with a rare second Victoria Cross. Such men are rare indeed, and we all recall his courage with awe and celebration.
"For their tomorrows, we give our today" John Maxwell Edmonds. That was the spirit of the unknown solider, great soul who's memory we salute today.
We stood and paid our respects to the memories of the men and women who have won the freedoms that have greatly contributed to the enjoyment of peace and peaceful life that England enjoys today.
Bishop Onaolapo made these closing remarks : "We are here because of the sacrifices the soldiers, male and female, have made for us. That is why the great atmosphere of stability and safety, friendliness and love prevails in this nation. I am sure this country will go from strength to strength because of that, and I am proud to be a citizen of this great country of ours."
I believe this sums up the congregations sentiments on this day, when we salute those whose lives were lost, as well as those who brought about peace.
May God's blessings be upon all.
(written by Duru-darshan
LDS Ilford ward)
My thanks to the staff at these Search Engines for listing and indexing my website, and to Vistaprint for so beautifully hosting my website over last 28 months. It has built from strength to strength, drawing many visitors each day. Thanks to all :
Google (the multi-trillion dollar brain)
Twitter (tweet tweet to you)
LinkedIn (professional and so well defined)
Yahoo (book readers love you)
Bing (looks like people like spy thrillers)
and, just for good measure, a few porno sites, harmless fun is okay I'd say.
My blogs being read overnight are as follows :
- The ECB's 25 basispoint cut
- Stephanie Ruhle, CNBC interviewer
(She's actually an anchor for Bloomberg, working in New York)
- This is time for buyers to support Bangladesh factories
(American companies have done so, may blessings be unto them)
- Thomas Sugrue's review of The Last Great Prophet
- The Bank of America share price.
Yesterday I heard the news that China has experienced good growth and far from a hard-landing which people feared it is experiencing very sound growth, with PMI figures up and increasing.
One commentator has stated that China has several trillion dollars of reserves for investment, so I imagine the worldwide boom can continue. Today I heard that 80 percent of visas being taken for visits to Portugal are for Chinese property investors. This way, all economies with an open-door policy to encouraging property ownership and immigration would benefit from the Chinese wherewithal to sustain growth and Recovery.
If the Chinese sources are suggesting U.S. is looking for $561 Billion for next six months, it augers well for the U.S. that the jobs numbers were pretty good and growth potential is inherent in America, and it would be very probable that China would support such borrowings and support, as they have done in the recent past.
The luxury sector may start to rebound in China, who continue to buy Rolls Royce cars and jets as never before, and with the refocus on domestic consumption and increasing exports from China, it is apparent that the Honourable Xi Jinping is inspiring policies that will help the Chinese people achieve higher standards of living.
For stability and optimism into the near future, what more could the world wish for?
The announcement of the 0.25 percent cut in the European Central Bank's benchmark rate is an indication that the economic Recovery still needs a great stimulus, and this was EU's way of getting it.
Only the day before I read that Adecco, the temporary staff specialists, were seeing increased signs of hiring of staff, and European economies are showing a sign of strengthening Recovery. It seems the services sector is growing, which is a good sign. As more people are out and about and travel, they need to sit down and eat.
The U.S. "shutdown" which at one point affected between 700,000 and 800,000 workers, who were told not to turn up for work and others who were furloughed i.e. had their hours reduced to only attend at peak-demand times - that "shutdown" saw reduced demand in travelling and catering across the pond. Here in London I have noticed a few cafes and restaurants mostly used by tourists close. And that was the effect of just a lull in a few weeks of trading.
At the moment, although there is a positive buzz, the uncertainity of the debt ceiling raise pending for 7th February is bound to weigh down on sentiment. It seems Senator Paul has indicated that Dr Janet Yellen will see confirmation of her nomination to the Federal Reserve's chairmanship, and the administration of the spigot can continue.
Feelings on this question are mixed, as the Chinese sources suggest that the U.S. is seeking about $561 Billion over the next six months. This would equate to roughly $93.5 Billion a month. That definitely suggests a phase of monetary expansion bigger than before, as the quantitative easing was running at some $85 Billion a month, cut by 1/12th with the Sequestration. If the stimulus could be so increased,
then that would definitely improve the picture of Recovery for next year. But in terms of reality, perhaps the $85 Billion a month will need to be restored, as suggested by Treasury Secretary Jacob Lew. No one liked the Sequestration, with scholars being sent home due to non provision of a mid day meal, not to mention problems with funding necessary upgrades to fleets.
It is good news that housing in the U.S. registered positive gains in 44 States last month, and when a stable situation arrives after the debt ceiling issue is resolved, better gains may be expected.
In the meantime, a stable and happy scenario is expected up to Christmas and New Year worldwide.
Chinese PMI data suggests a growing strength in the domestic re-focus as well as exporting sectors.
The United Kingdom is registering positive growth in housing numbers and GDP growth, greatly helped by the introduction of the Help to Buy scheme. Hopefully speculators and buy-to-let landlords are not assisted so much that the property market may become a bubble, causing soaring rents, homelessness and reliance on the social welfare system.
A mixed picture of optimism, with the Twitter IPO yesterday providing some amusement. The market seems to manufacture some euphoria, with the underwriters making good profits.
That's it for now. Very soon I'm off to the World Money Show, at the Queen Elizabeth Conference Centre not far from Big Ben.