iCharts Discussions

[ajayhkaul]

Sure amitkbaid and as I wrote earlier in the day : Post elections they can go back on their promises ! that's democracy .

[ajayhkaul]

Body Language : who is in control here ?

[SP50]

This is hilarious and can best describe whos the BOSS.

[vinay28]

courteous submission!

[ajayhkaul]

Power of the bankers !

and Market cheers the clarification from FM.


'....A lack of clarity on taxation of P-notes has contributed to the recent volatility in the domestic share market.

A new set of tax norms, the General Anti-Avoidance Rules ( GAAR) comes into effect from next week (April 1, 2012. Under this, the income tax department will have the power to deny individuals and entities the benefits of any tax avoidance treaty that may presently exist.

P-notes are fundamentally instruments that help foreign investors preserve their anonymity since they don't have to register with the market regulator Sebi. It also presents them with a great opportunity to save tax by routing the investments through tax havens like Mauritius.

If the IT department were to actually go after P-notes, there would be tax implication on these instruments which are mainly sold by the likes of investment banks like Goldman Sachs, Citi, Barclays, HSBC and Morgan Stanley among others....''

[ajayhkaul]

Rising star > CANADA


US Crude Oil Imports: Top 7 Countries
(Thousand Barrels per Day)
Country Sept-11 Aug-11 YTD 2011 Sept-10 YTD 2010
CANADA 2,324 2,240 2,157 1,937 1,971
S ARABIA 1,465 1,075 1,180 1,082 1,072
MEXICO 1,099 1,150 1,113 1,108 1,132
VENEZUEL 759 806 893 919 928
NIGERIA 529 854 826 1,107 1,018
COLOMBIA 510 365 364 308 328
IRAQ 403 637 473 422 464


Notice that US imports twice the amount of oil from Canada compared to Saudi ! Go figure the US military presence in the middle east

Canada is growing...

The unemployment rate has fallen to four-year lows. And the Canadian dollar has gained 21% against the U.S. dollar since 2009.

Federal debt to GDP ratio is the lowest in the G7 — and forecast to fall to 28.5% by 2017. Canada's corporate tax rate is 15% compared to 35% in the U.S. of A.

Canada has proven there is such a thing as good leadership..


"....With as much as 1.7 trillion barrels of oil now within recoverable reach from their massive oil sands mega-formations, this nation has in its grasp more than six times the oil of Saudi Arabia's reserves.

If that weren't enough, they have a total landmass second only to Russia — including some of the world's richest mineral reserves.

This nation is home to the world capital of precious metals and mineral mining, a city that consistently ranks as one of the most livable cities on Earth...."

[rk_a2003]

Canada is considered as 51st state of USA.

Americans don't see any challenge in any form from Canada atleast in near future.

[ajayhkaul]

Yes RK .....Only that Canada has realized that China can pay more than US for their oil !

[ajayhkaul]

Yuan ..also called 'renminbi' is heading for global currency status at the expense of US dollar:

Since China is clearly serious about this objective, it is going to need a lot more gold bullion with which to back its yuan.( Euro Zone has 10k ton , US has 8k and china is only 1 or 2 k ton of Gold)

So who is buying gold bullion on those price dips ?

"... Australia views China as its most important trading partner. For the first time in its history, Australia has signed a currency agreement, initially beginning at $31.0 billion, but which will expand. The future agreements and contracts will be settled in yuan.


After the signing of the agreement on Christmas Day of 2011, Japan has initiated the first steps in buying 65 billion yuan worth of Chinese government bonds. China is Japan’s largest trading partner, but only a very small portion of their trade was settled in yuan. That is officially set to change, at the expense of the U.S. dollar.


Dubai’s Emirates NBD, the largest bank in the United Arab Emirates, has sold its first debt in Chinese yuan in its history. Although it is only for $119 million, this is the first such debt in the Arab gulf region to be denominated in yuan. The United Arab Emirates and China have signed an initial agreement of $5.5 billion as trade, debt and investments are settled in yuan, instead of the U.S. dollar.


In July 2012, the Hong Kong Mercantile Exchange is planning to launch yuan-settled gold bullion and copper futures contracts. Over the next year, the exchange is looking to offer another 12 industrial metals futures contracts denominated in yuan. This would be the first of its kind in Asia. Although they have already launched gold bullion and silver bullion futures contracts in Asia, these contracts are settled in U.S. dollars...."

[ajayhkaul]

Some moons ago I wrote about the law suit against JP Morgan re silver (shorts) manipulation.

Here is some more info that you can apply to stock trading also , just in case you think all is fine and dandy with our markets:

1... Define Manipulation:
"...Manipulation is another way of saying someone controls and dominates the market by means of an excessively large position. So, just by holding such a large concentrated position, the manipulation is largely explained. In real terms, whenever a single entity or a few entities come to dominate a market, all sorts of alarms should be sounded. This is at the heart of U.S. antitrust law. It is no different under commodity law.

Price manipulation is the most serious market crime possible under commodity law. In fact, there is a simple and effective and time-proven antidote to manipulation that has existed for almost a century, and that solution is speculative position limits. Currently, the Commodities Futures Trading Commission (CFTC) is attempting to institute position limits in silver, but the big banks are fighting it tooth and nail.

As far as any benefits the manipulators may reap, it varies with each entity. But if you dominate and control a market by means of a large concentrated position, you can put the price wherever you desire at times, and that's exactly what the silver manipulators do regularly. This explains why we have such wicked sell-offs in silver; because the big shorts pull all sorts of dirty market tricks to send the price lower..."


However, it is no secret that the commercial traders are the big shorts. It is also no secret that these big commercial shorts are mostly money center banks and financial institutions. Based upon government data and correspondence, the largest such short almost certainly is JPMorgan Chase & Co. (NYSE: JPM), who inherited their big silver short position from Bear Stearns when JPM took over that firm in 2008.

2...Mechanism : The current exact mechanism they use to suddenly rig the price lower is High Frequency Trading (HFT). This is the placing of sell orders in great quantities by computer programs that suddenly appear as legitimate orders, but are really mostly "spoofs," or orders entered and canceled immediately (in the fractions of a second). When the sell orders first appear, they spook others into selling as they give the appearance of great selling about to hit the market. Instead, it is all a bluff, intended only to scare others into selling, as the vast majority of these original sell orders are never executed, nor were they ever intended to be executed. They were designed for one purpose only - to scare others into selling.

Through HFT, the commercials are able to push prices suddenly lower on very little actual volume. But once prices are put lower, the outside selling (from those who are frightened by the drop in prices) hits the market. It is that outside selling from technical traders that the commercials then buy.

In a nutshell that's the HFT scam in silver. It is important to grasp the fact that the actual selling (and commercial buying) takes place AFTER the price drops. Most people think great selling is what causes the price to decline, but that's not true. The great selling only comes in after the price has been put lower, which is the purpose behind HFT in silver...."

Investors who hold physical silver don't buy and sell often; they hold. Only paper silver holders, because they only put up a fraction of the full value as margin, can be regularly tricked into selling their paper contracts on price declines. The big commercial shorts know this and that's what the game is all about - taking paper long traders to the cleaners.

Also, there is more paper traded than real silver because there is a very limited amount of real silver and an infinite supply of paper silver. It's important to know the difference and that difference is what makes physical silver superior to any paper alternative...."

All manipulations end ... and what will that do to silver ?


I have written earlier that following technical analysis by the book makes the techie susceptible to manipulation because the techie is very predictable especially the beginners.

Hope the above info helps all techies to guard against their vulnerability. We know that no system of analysis is the grail by itself.

As an exercise , watch the buy sell volumes of the share you hold...many times large volumes appear and disappear in seconds ....how many of you have seen that ?

Do share your experience.....and fight back.

[ajayhkaul]

Now its Spain and Italy ?( close on the heels of Greece)

Bond yields for Spain and Italy spiked at 4%+

Spanish bonds were rated 'caca'

And ECB wont print more money? Who are they kidding ?

[ajayhkaul]

Is this the best I can do right now ?

Here is a profound thought from Janice Dorn that I felt I should share especially when the market is going nowhere and some traders may be wondering what next ?

In the markets, flow behavior is rewarded because it allows us to be flexible, adaptable and give us what the markets are offering-rather than what we think they ought to offer.It reminds us that every moment in the markets is unique and that anything can happen at any time. By releasing attachment to outcome, we have freedom to be fully in control of how we respond.It releases us from the chaos of reacting, from rat-braining and from the emotional gyrations that almost always lead to losses. It leads us to come back constantly to the nine most important words each of us can ever ask: "Is this the best I can do right now?

The point of power is always in the present moment...Louise L. Hay

[pkholla]

ajay: you are just great. i had kept in the back of my mind your warning about FCB of various Indian cos. and how they will affect those cos.' MV in the very near future! suzlon has started struggling (like a harpooned fish) to find ways and means of avoiding default in its FCB!!!! keep those posts coming and thanks. rgds prakash holla

[ajayhkaul]

Hey thanks , Prakash..... I am glad that the post was timely ! Will endeavor to meet your expectations.

It will be interesting to see how this mess will be resolved .... by borrowing more or rescheduling till December 21, 2012( end of the world ie the end of mayan calendar )

[pkholla]