The Energy Strategist

Interactive Brokers currently allows only people of Indian origin to purchase stocks on National Stock Exchange.

The Institute of Supply Management (ISM) reported that its index measuring the industrial sector came in at 52.6 for September, down marginally from the August reading of 52.9.

The stock was down overnight in the Philippines, as investors attempted to asses the deal. The initial market view is that this is a move beyond the company’s core competency, from telecom into power generation. Although this is true, I’m taking a deeper look of the deal; PLDT has established a positive track record in the merger-and-acquisition game.

Indian technology stock valuations peaked in the first quarter of 2006. At that time, Indian technology stocks were trading at huge premiums to the rest of the region. Current market conditions have brought these stocks down in a hurry, and as a result they’re now trading almost in line with the rest of the sector.

As I mentioned in last week’s issue, I’m making some portfolio changes before the next issue is published. The following stocks are being added to the Silk portfolio.

It’s becoming increasingly obvious that, although the global financial system remains US-centric, real economies around the world are moving in the opposite direction.

I recommend adding to your positions in China; the market is trying to stage a rally, and it could be substantial if it takes hold. Without losing our heads with excitement, we should explore the opportunity.

Lower your stop on the China Life Insurance short to USD58. The short has been working well for us. And with Wall Street dripping in red ink today, it has dropped even further.

Lower your stop on the China Life Insurance short to USD62. The short has been working great for us, and with today’s weak market action, it has dropped even further.

We're recommending shorting one of our stocks that has a large chunk of its loans in troubled US and UK markets.