Wall Street falls on jobs data, European worries

 US stocks sank on Friday after a disappointing May jobs figure, while investors were spooked by the possibility of another debt crisis, this time in Hungary.

Data showed the US economy added fewer-than-expected jobs last month, with a large portion of those being temporary hiring for the US Census.

   "There's no other way to describe it except flat out disappointing," said Mike O'Rourke, chief market strategist at BTIG LLC in New York. "Once you get beyond the Census numbers, it was abysmal

     The drop of more than 2% in stocks follows Wall Street's first back-to-back advances since late April. Worries that Europe's sovereign debt troubles could spread flared again after a Hungarian official said the country was at risk of a Greek-style crisis, driving the euro to a four-year low against the dollar. 

   Financial stocks ranked among the worst performers, with both the KBW Banks index down 3.51%. JP Morgan Chase & Co shed 2.3% to USD 38.19, while Bank of America Corp slipped 2% to USD 15.50.

The Dow Jones Industrial Average tumbled 323.31 points, or 3.15%, to 9,931.97. The Standard & Poor's 500 Index lost 37.95 points, or 3.44%, to 1,064.88. The Nasdaq Composite Index dropped 83.86 points, or 3.64%, to 2,219.17.

        Further exacerbating the pressure on Wall Street were concerns from Europe about Societe Generale's derivatives business. The company said it would not comment on market rumors.

     There have been nine days since 1998 when payrolls data was reported and the SPDR S&P 500 exchange-traded fund (ETF) opened down 1% or more, according to Bespoke Investment Group. On those days, the fund rose an average of 1.2% from open to close.

The ETF was down 2.7% on Friday afternoon.

      Chris Burba, a short-term market technician at Standard & Poor's in New York, cited a support level for the S&P 500 at 1,070, a recent low for the index. If the S&P closes below that level, he said, "The risk of sustaining a decline beneath the February low would increase."

       BP Plc avoided a decision on whether to pay its next quarterly dividend as it faced heavy  political pressure to put the payout on hold while it fights the oil spill in the Gulf of Mexico. BP's US-listed shares fell 4.4% to USD 37.53.

Dow component McDonald's Corp slipped 1.5% to USD 66.83 after it recalled 12 million        "Shrek"-themed drinking glasses. US officials warned consumers to stop using them because they contain the toxic metal cadmium.

      The Labor Department said the US economy added 431,000 jobs in May -- far short of the 513,000 that Wall Street had expected.

Even so, analysts said it didn't alter their view that the economy is stabilizing, with many expecting unemployment will remain high for some time.

Decliners were carrying the day, outnumbering advancers on the New York Stock Exchange by a ratio of 8 to 1, while on the Nasdaq, about six stocks fell on the Nasdaq for every one that rose.

       The CBOE Volatility Index or VIX, Wall Street's favorite barometer of investor fear, shot up 15.7% to 34.08 in mid-afternoon trading.

US Markets to open sharply lower after payrolls data

NEW YORK (Reuters) - Stock index futures were sharply lower on Friday, with the S&P 500 and Nasdaq set to drop more than 2 percent at the open, after the May payrolls report showed private hiring slowed sharply.
The Labor Department said 431,000 jobs were added to the U.S. economy, but of that total, 411,000 workers were hired for the U.S. Census. Wall Street looked for payrolls to rise by 513,000.
"This shows that the economy is a lot weaker than most people had suspected," said Gary Shilling, president of an investment research firm in Springfield, New Jersey. "It raises the risk of a double-dip recession."
The data came a day after a private employment report and weekly jobless claims data showed an improved labor market, though not as much as expected.
S&P 500 futures fell 23.9 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures sank 190 points and Nasdaq 100 futures plummeted 44.25 points.
Futures was already in negative territory before the payrolls report, tracking European equities on concerns about Societe Generale's (Paris:SOGN.PA - News) derivatives business. Also, investors worried about the sovereign debt crisis spreading after a spokesman for Hungary's prime minister said the country was at some risk of a Greek-style fiscal crisis. The euro fell to a four-year low against the dollar.
BP Plc (NYSE:BP - News; LSE:BP.L - News) made strides in its bid to stop the massive oil spill in the Gulf of Mexico and capture oil spewing from a ruptured well. Still, BP's U.S.-listed shares fell 2.9 percent to $38.14 premarket.
Policymakers from the Group of 20 nations expressed concern Friday about the health of the world economy as they closed ranks behind the euro zone's efforts to tackle a debt crisis that has rattled global markets.
Martek Biosciences Corp (MATK - News) reported second-quarter earnings late Thursday that beat expectations and forecast full-year revenues above consensus.
Three top Federal Reserve officials said Thursday it may soon be time to begin raising interest rates as the U.S. economic recovery gathers momentum despite persistently high unemployment.
Wall Street rose for a second straight day on Thursday, with the Nasdaq advancing 1 percent on a late-day surge in technology shares.

TRADERS ALERT:

SGX NIFTY ALSO SUDDEN DOWN NOW 5037

TRADERS ENJOY MONDAY IS OUR DAY

ALREADY TODAY AFTERNOON I TOLD NIFTY WILL COME DOWN

THIS IS POSSIBLE ON MONDAY

HAPPY FRIDAY - 04.06.2010

8.50 AM :TODAY NIFTY OPEN WITH 20 TO 25 GAP DOWN

TODAY SOME CORRECTION POSSIBLE

DONT BUY ANY STOCKS

NIFTY JUNE 5000 PUT BUY

SHORT VOLTAS 185  TARGET 181 - 180

SHORT M&M 582 TARGET 576

9.02AM : BUY 5000 PUT AND 5100 PUT BUY BUY

9.05 AM NIFTY RESISTANCE 5102 - 5130 - 5150

SUPPORT 5080 - 5050 - 5005

9.10 AM : M&M TARGET ACHIEVED 576

 9.15am : 5000 PUT TARGET 92

5100 PUT TARGET 132

9.19 AM : MARKET SENSITIVE , TODAY SOME CORRECTION POSSIBLE

TRADE CAREFULLY

MAINTAIN STRICT STOPLOSS

10.19 AM : KEEP EYE ON NIFTY 5090 LEVEL

11.47 am : MARKET VOLATILE

12.41 PM : AFTER EUROPE  MARKET NIFTY WILL RETURN

2.34 PM: HOLD 5000 PUT,5100 PUT NIFTY WILL COME BACK

DONT AFRAID

3.30 pm : HAPPY FRIDAY

COME BACK AGAIN MONDAY

HAPPY WEEK END

HAPPY THURSDAY -03.06.2010

HAPPY THURSDAY

8.45 AM :TODAY OUR NIFTY GAP UP OPEN 40 TO 50 POINTS
TODAY HOT BUYING STOCKS
CAIRN BUY AT 291    TARGET   296
ASHOK LEYLAND BUY AT 61.50  TARGET  64
M&M BUY AT 576 TARGET 583
RIL BUY AT 1014 TARGET 1032
IVRCL BUY AT 171 TARGET 177
JP ASSOCIATES BUY AT 120 TARGET 126

DONT MISS ALL STOCKS HITS THE ROOF

ENJOY THIS IS OUR DAY

HAPPY TRADING

NIFTY 5050 - 5102 - 5130 - 5150 - 5180

STRONG SUPPORT  4960

9:47 AM: ALL OUR CALLS ARE GOING STRONG. WAIT FOR THE TARGET

10:13 AM:
OUR NIFTY 5100 CALL GIVEN ON TUESDAY TARGET (99) ACHIEVED.

DELIVERY CALL (1 WEEK TIME)
TATAMOTORS 800+
SESAGOA 400+
M&M 600+
BHARTI AIRTEL 300+










10:17AM: NIFTY REACHES 5100 (WE ARE POSITIVE FROM YESTERDAYS MORNING)

10.53AM: RELIANCE TARGET 1032 ACHIEVED

10.55 AM : NIFTY 5130

10.57 AM : M&M  583 TARGET ACHIEVED

10.58 AM : IVRCL INFRA TARGET 177 ACHIEVED


12.40 PM : NIFTY 5130

12.49 PM : EUROPE MARKET OPEN WITH 1.5% GREEN

1.01 PM : Inflation update: Primary articles inflation has come in at 16.89% versus 15.90% (WoW), food articles inflation is at 16.55% versus 16.23% (WoW) while fuel group inflation is at 14.14% versus 12.08% (WoW), reports NDTV Profit.



1.52 PM : 2.30 PM NIFTY WILL UP MOVE


ASHOK LEYLAND NEAR TO OUR TARGET 64

2.19 PM: ASHOK LEYLAND TARGET 64 ACHIEVED

3.20 pm : jp associates book profit current market rate

3.21pm: CAIRN TARGET 296 ALREADY ACHIEVED

TODAY ALL TARGET ACHIEVED

HAPPY THURSDAY

WE WILL MEET YOU FRIDAY 8.45 AM , SOME MORE ROCKING TIPS

GIVE YOUR FEEDBACK





BYE BYE

HAPPY WEDNSDAY - 02.06.2010

TODAY HOT BUYING STOCKS
JP ASSOCIATES BUY 119 TARGET 125
IVRCL BUY 167 TARGET 174
MARUTHI
M&M
NIFTY LEVEL 4980 - 5002 - 5030 - 5050 - 5080 RESISTANCE
4950 - 4930 - 4900 SUPPORT

9.41 am :5002

10.45 am : NIFTY WILL ZIGZAG

11.00 AM : NIFTY ABOVE 5030 IS GOOD

BELOW THIS LEVEL CAUTIOUS TRADING MUST

1:00 PM: NIFTY SENSITIVE. EUROPE TRADING RED. WAIT & WATCH TILL 2:30PM

1:10 PM: NIFTY SENSITIVE. CAT ON WALL POSITION

2:26 PM: IVRCL ROCKING.

3:02 PM: GOOD NEWS FOR MARKET. NIFTY STAYS ABOVE 5000. TODAY ABOVE 5040 WILL TAKE TO 5100


3:13 PM: IVRCL DELIVERY TARGET 184 IN 7-10 DAYS


3:19 PM: NF DISCOUNT REDUCED TO Rs.12 FROM Rs.30 POSITIVE TRIGGER FOR MARKET

3:28 PM: BOOK PROFIT IVRCL

HAPPY MONDAY - 31.05.2010

 

HAPPY MONDAY - 31.05.2010

8.45 AM : TODAY OUR MARKET WILL OPEN FLAT

NIFTY SUPPORT 4950 - 4900 STRONG
4900 BROKEN OUR MARKET EXPECTING HEAVY SELLING PRESSURE

NIFTY RESISTANCE 5050 - 5080 - 5100 - 5130 - 5180

TODAY GOOD BUYING STOCKS

RIL
GMDC
TATA STEEL
M&M
JINDAL STEEL
MARUTHI
TATA MOTORS
HDIL
JUBILIANT ORGANICS

9.15 AM : BUY TATA MOTORS 756  TARGET 764

TATA MOTORS TARGET ACHIEVED 764

9.20 AM : BUY SESAGOA 367 TARGET 374

9.25 AM: NIFTY 5080 NEXT 5102

9.30 AM : LOOK NMDC ROCKING

9.47AM : EXPECTING GDP DATA TODAY

11.00 AM : MARKET TRADING WITH FLAT

11.05AM: FRIDAY NIFTY F&O 5100 CALL 102 TARGET ACHIEVED

11.12AM: FRIDAY NIFTY F&O 5100 CALL 102 TARGET ACHIEVED

11.42am :SESA GOA NEAR THE TARGET ALERT

11:50 AM - GDP data: Manufacturing growth is at 16.3% versus 13.8% (QoQ), farm sector growth is at 0.7% versus -1.8% (QoQ) and mining sector growth is at 14% versus 9.6% (QoQ) while construction sector growth is unchanged at 6.5% (QoQ),

12.30 PM : NIFTY LOOKING WEAK TRADERS ALERT  SESAGOA SELL AT 369

DONT BUY ANY ONE KEEP WATCHING NIFTY  CAREFULLY

12.40 PM : SESAGOA 374 TARGET ACHIEVED

12.47 PM: NIFTY SENSITIVE KEEP WATCH NIFTY

SESAGOA ZOOOOOOM

12.59 pm:TRADERS WAITING FOR EUROPE UPDATE IT WILL GREEN NIFTY WILL GREEN

1.39pm: CLICK ALL THE ADS IN MY BLOG

NIFTY FLAT 2.30 PM IS TREND DECIDE TIME

1.46pm : NIFTY TRY TO MOVE UP

2.00PM : ZZZZZZZZZZ

2.05PM : EUROPE TRADE FLAT

2.11PM : CLICK ALL ADS IN MY BLOG

2.16PM :

2.30PM:

3.03 pm: common nifty 5080

3.09pm: 5080

3.13 pm: NIFTY 5102

OK BYE THIS WEEK IMPORTANT FOR OUR MARKET TREND