Finally the much hyped UN climate summit at Copenhagen got over last week. What a dis-appointment especially when there was so much anticipation created by arrival of 100+ world leaders (or should I say politicians since no one really demonstrated any leadership to save the our only planet). The leaders failed to take forward looking decisions and no meaningful accord was reached. Going forward such summits should be limited to countries which matter when it comes to climate control - those would be G20 forum since those countries are responsible for nearly 80% emissions.
We are almost at end of 2009 - only one week remaining which would be slow week for markets since many folks have already gone on holidays. The markets are near their yearly highs and would most likely close year near these levels. DOW would likely cross 10500 next week. Since companies have not started warning pre-announcements, Q1 results should be decent. In anticipation of that, DOW would march and cross 11000 by end of Jan 2010.
Recently housing market and energy markets have started showing quite a bit of activity. Considering that, I would still consider my previous recommendations as potential buys during these slow times: SNV ($2), ING ($9.80), GNW ($11.70), EROC ($5) and XTEX ($7)
That's all for now. Happy Holidays !
/Shyam
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