May 8, 2012

Stock recommendations today

The markets wobbled between positive and negative territory on Monday following last week's steep retreat as traders mulled developments in Europe over the weekend.
As of 3:15 p.m. ET, the Dow Jones Industrial Average, as quoted by, fell 8.6 points, or 0.06%, to 13029, the S&P 500 rose 1.9 points, or 0.14%, to 1371 and the Nasdaq Composite gained 6.6 points, or 0.22%, to 2963.
The broad S&P 500 slid 2.4% in its worst showing of the year last week amid data suggesting the recovery in the world's biggest economy may be slowing down. These reports, capped with a disappointing April jobs read, came on the heels of data suggesting many economies in the eurozone may actually be contracting at an increasing pace. 
Closely-watched elections in France and Greece added to the concerns for the ailing currency bloc. Fran├žois Hollande defeated incumbent Nicolas Sarkozy in elections in France in what many called a referendum of the painful budget-cutting measures the country was taking to chop down its public debt. 
Hollande will be the first socialist president in 17 years, according to the Wall Street Journal. While he plans on continuing to cut the country's deficit, he plans on asking wealthy individuals to kick in more. 
How about Indonesia stock market today? Bisnis Indonesia provides recommendations:
Reliance Securities:
Today, Jakarta Composite Index may continue to fall, trying to break the support level at 4,123. Stochastic shows the decline movement may occur with the target of 4,022 when the support level has been broken.
Panin Sekuritas:
Today, we estimate that index may fluctuate. We predict that the sell-off may abate. The second and third lines stocks are still the top picks for today trading. The support-resistance level is between 4,119-4,190. Top picks: ADHI, PTPP, ACES, TUTI, and SMRA.

Minna Padi Investama:
The JCI may move within the range of 4,111-4,205. Top picks: BBRI, BMTR, and MDLN.
e-Trading Securities:
The index may tend to rebound within the range of 4,115-4,201. Several stocks to watch: INTP, UNVR, and AISA. 

Disclosure: No position at the stock mentioned above.

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