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Market Outlook (05/10/13): STI Yet Wiped All Gains In 2013 Again!
By Dou  •  October 6, 2013

STI

 

In last week, STI lost 72 points from the opening of 3210 and close lower at 3138. A black body candle stick with short upper/lower lower shadow indicates that investors have no qualms on selling lower.

Key Economics Data report:

Washington politicians could slash the budget deficit by just tapping into the foreign profits of the top 20 American companies. The upper tier of the Fortune 50 has burrowed away $743 billion in total profits in offshore accounts, a bounty that would yield about $119 billion for the Treasury.

With the budget deficit running at $642 billion, getting back some of that foreign-stashed cash could make a big dent. While addressing the foreign tax havens has gained a lot of chatter, few elected officials have taken any action for fear of alienating corporate titans who can hold the key to national political careers.

Technical Analysis on STI

STI broke ...

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By Dou
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