Daily Analysis and Trade calls

First time in a decade Apple growth snaps down to 18% but as expected company is ready for buy back shares of around USD 50 bill and going to pay back investors USD 100 bill till 2015 which supported markets though it didn't help Apple stock much initially market went up around 4.5% but later on came back to same price in after hours. However as our previous analysis we are on buy Apple with target around 500.

Hoax tweet rattled markets for some moments Dow took a dive around 1% from 14700 and so do other indices also. In a Twitter post, a group identifying itself as the Syrian Electronic Army took responsibility for the fake AP message. The group, which describes itself as "a group of enthusiastic Syrian youths" who support Syrian President Bashar al-Assad, recently has targeted other media organizations. An AP spokesman said the news organization was unable to determine the origin of the hacking incident.

As Gold is trading above 1400 from last 3 sessions against dollar across globe , people are recognizing that this is a unique opportunity to be able to acquire large amounts of gold and silver at a bargain price.  So precious metals dealers now find themselves being overwhelmed with orders in the United States, in Canada, in Europe and over in Asia.  Will this massive run on physical gold and silver soon lead to widespread shortages of those metals?  Instead of frightening people away from gold and silver,the take-down of paper gold seems to have had just the opposite effect.  People just can’t seem to get enough physical gold and silver right now.  Those that wish that they had gotten into gold when it was less than $1400 an ounce are able to do so now, and it is absolutely insane that silver is sitting at about $23 an ounce.  If the big banks continue to play games with the price of gold, we are going to see existing supplies of physical gold and silver dry up very quickly.  And once reports of physical shortages of gold and silver become widespread, it is going to absolutely rock the financial world.  But this is what happens when you manipulate free markets – it often has unintended consequences far beyond anything that you ever imagined.

European stock markets initially lost ground on  Asia and disappointing purchasing managers’ index data, while commodities fell and US Treasuries gained which helped our selling call  to achieve target on DAX though later on it recovered but Gold call didn’t gone well as Chinese factory orders dipped.

Following are trade calls for today,

•       Sell Eur/Usd at 1.3050 stop above 1.3090 target 1.2910
•       Sell Chf /Jpy at 105.30 stop  above 106.30 target 104.10

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