People say we should not read newspaper because people who read newspaper are whole bunch of depressive lots. So are reporters, professional or community are alike. I don't mean to depress you, certainly not in the morning. I also don't mean to run my bad news press, after all I have no short positions. However, running good news for the sake of good news is not a good policy.
More headwinds ahead of us.
1. Indonesia cuts interest raise is an act of acknowledging of slowing down. The rest of South East Asian countries are launching stimulus spending. I applaud their efforts. It is good to be proactive.
http://www.bloomberg.com/news/2011-10-11/indonesia-unexpectedly-lowers-interest-rate-to-bolster-economic-expansion.html
2. US is acting stupidly but hopefully in a more controlled manner. The senate passes a bill allowing them to raise import duties from China. Protectionism is bad for global trade. Childish act!
http://www.bloomberg.com/news/2011-10-11/u-s-senate-passes-bill-allowing-duties-to-offset-china-s-undervalued-yuan.html
3. Alcoa is missing the analysts' estimate. Not a big deal and nothing wrong with Alcoa, just the stupid analysts are being too optimistic.
http://www.marketwatch.com/story/alcoa-misses-a-low-target-2011-10-11?link=MW_story_investinginsight
I noticed local retail investors made up almost 30% of daily trading in the recent weeks. This number is high by historical standards.
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