Jun 11, 2012

Stock recommendations today

On the heels of posting the worst weekly performance of 2012, the markets zoomed higher this week on hopes policymakers may be willing to take action to buoy ailing world economies.
The Dow Jones Industrial Average on Friday last week, as quoted by foxbusiness.com, rose 93 points, or 0.75%, to 12554, the S&P 500 rose 10.7 points, or 0.81%, to 1326 and the Nasdaq Composite jumped 27.4 points, or 0.97%, to 2858.
For the week, the Dow jumped 3.6%, the S&P 500 gained 3.7% and the Nasdaq rallied 4%.
With little in the way of economic data released this week, market participants have been focused on a stream of commentary from global central banks. However, much of the news has come as a disappointment. The European Central Bank and Bank of England both held off on making changes to their monetary policy, while commentary from Federal Reserve Chairman Ben Bernanke was interpreted as suggesting the central bank isn't quite ready to unleash another round of easing. Still, traders remained hopeful that easing may be on the way in the near future. 
Meanwhile, China slashed its benchmark lending and deposit rates. How about Indonesia stock market today? Bisnis Indonesia quotes recommendations from several brokerages:

Reliance Securities:
Jakarta Composite Index (JCI) today may move sideways with limited range within 3,375-3,859. Several stocks to monitor: BWPT, KRAS, BDMN, and RALS.

e-Trading Securities: 
The JCI today may tend sideways with consolidated sentiments. Investors are advised to do short term trading. Several stocks to watch: CPIN, HRUM, JSMR, and SMGR.

Panin Sekuritas:
The JCI today may move mixed with downtrend possibility. We see that the index movement will be shadowed by European nations issues. The support and resistance levels are within 3,790-3,850.

Sinarmas Sekuritas:
Technically, the index may continue further decline within the range of 3,800-3,850. Several stocks for day trading are GGRM, HEXA, KLBF, and JSMR.
Disclosure: No position at those stocks mentioned above.
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