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Two Ways To Play: India's Economy Surges


Strengthen your portfolio in good times and bad.

India's Economy Surges

India's economy grew 7.9% year-over-year in the quarter that ended in September, shattering expectations of a 6.3% gain and increasing speculation that its central bank could raise rates before the end of the year.

According to the Financial Times, much of the data was due in part to strong performances in the manufacturing and services sector, which rose 9.2% and 9.3% respectively.

The performance now puts more pressure on the Reserve Bank of India, which has already expressed its concerns about rising inflation. Just last month the RBI began to wind down some of the unconventional measures it had taken to boost liquidity.

From the Bull Pen: As Professor Keith Fitz-Gerald would say, "Go global -- or go home! Consider Indian automaker Tata Motors (TTM). In the short term, a sell stop can be set near $13.

From the Bear Cave: Bears looking for a downside play can look elsewhere, like Wells Fargo (WFC). On the daily chart, there's a lower right shoulder (completing a bearish head-and-shoulders formation). Closing below $26 could signal more weakness ahead. If and when.

A Quick Check around the World

Asian trading closed with the Nikkei 2.91%, India 1.77%, Hang Seng 3.25%, Shanghai 3.20%, and Taiwan 1.22%.

Across the pond, we see the FTSE 0.29%, CAC -0.94%, DAX -0.81%

As of 8:10 AM EST, S&P Futures are trading -0.25 to 1089.50. Nasdaq futures are +0.750 to 1760.00.

A Look at Commodities

Over in commodities, crude oil is -0.09 to 75.96 while gold is -4.400 to 1169.80 this morning. Silver is -0.13 to 1817.0 and copper -0.050 to 309.30.

The dollar Index is -0.2600 to 74.7800.

On the Radar


09:45 Chicago PMI 53.0 cons.

Good luck today!

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No positions in stocks mentioned.

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