Sep 22, 2011

Stock recommendations today

The Dow Jones Industrial Average yesterday sank 2.5% or 284 points to 11.125 on sell-off after Federal Reserve announced its latest action-so called operation twist-in the debt market, signaling that the Fed is running out ammunition to combat stubornly high unemployment and anemic economic growth.
The S&P 500 fell 2% or 52.1 points to 2.538 as well. The Fed's Chairman Ben Bernanke launches a US$400 billion package to buyback long term US treasuries by selling short term treasuries.
The yield of the benchmark 10-year treasury fell after the operation twist program revealed, recently hittung 1.88% from its previous close of 1.94% and 1.94%, reflecting higher prices.
At the same day, Moody's downgraded the long term credit rations of Bank of America, Wells Fargo, and Citigroup as it sees a lower probability of the US government support for the banking sector. How about Indonesia stock market today? Here are stock recommendations provided several  brokerages provided by Bisnis Indonesia:

Panin Sekuritas:
The Jakarta Composite Index (JCI) may continue its losses today and move within the range of 3,630-3,700. The JCI is still affected by external factors.

Minna Padi Investama:
The JCI may test a new support level at 3,655 today. The wait-and-see action is the right option for investors today. Several stocks to monitor: ITMG, BDMN, and SIMP. 

e-Trading Securities:
Today, the index may move within the range of 3,639-3,733. Several stocks to watch: BDMN and MASA. The JCI yesterday fell 1.45% or 55 points to 3,697.49.

Sinarmas Sekuritas:
The index technically may move in the range of 3,673-3.737. The Fed decision after 2 days meeting and the debt crisis solution in Greek remain the biggest factors for the JCI movement. Stocks to watch: TLKM, BDMN, and BRPT.
 
Disclosure: No position at the stock mentioned above.

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