Today was extermely volatile day. Market opened higher inspite of worsening PMI data from Europe to China and yet futures were up 70 point. US ISM data showed improvement after 3 month of contraction. Stock market didn't sell off on those contraction but it made sure to rally on the good news. ECB is carrying fine tuning operation tomorrow. Stock market have rallied or have higher open on Tuesday because of this operation. At the same time it has also helped market to close flat on negative news and acted as cushion.
Rumor is expected to continue till Oct 18th EU finance minister meeting and secret sources will come to the market every hour find reuters, CNBS and other media to give their secret news. So either sit on the sideline and be in cash or get ready for the roller coaster ride. Don't be surprise by sudden rally or sudden sell off. My advice is "Be in cash".
|ECB is carrying fine tuning operation tomorrow and inspite of bearish trend , Market is expected to open flat to higher.|
|Market was up even before ISM data was out as shown in the chart.|
All earnings releases
|Company Name||Time||Transcript||Wall St|
|ACUITY BRANDS AYI||Before Open||N/A||0.92||N/A|
|MOSAIC CO/THE MOS||Before Open||N/A||1.15||N/A|
|RESOURCES CNCTN RECN||After Market Close||N/A||0.12||N/A|
|XYRATEX LTD XRTX||After Market Close||N/A||0.34||N/A|
Economic Calendar To watch.
|Ship Finance International||SFL||24,843||15.19||-0.81||-5.06||16.00||15.00|
|Tesoro Logistics LP||TLLP||70,128||41.55||-1.89||-4.35||42.72||41.40|
|Xueda Education Group ADS||XUE||17,988||3.30||-0.15||-4.35||3.40||3.30|