Thursday, December 10, 2009

Banks exposure to Dubai World.

United Kingdom's banks in total exposed US$49.5billion.
Royal Bank of Scotland was the most exposed, with the paper reporting a figure of $1-$2 billion. Other UK banks, HSBC, Standard Chartered and Lloyds, were said to be exposed by around $1 billion each.
French and German banks top the euro-zone list with $11.3 billion and $10.2 billion respectively.
Dutch banks have exposure of $4.7 billion, while Swiss banks have $4.3 billion and Italian and Belgian banks share in $3.2 billion.

Royal Bank of Scotland has around 700 branches, mainly in Scotland though there are branches in many larger towns and cities throughout England and Wales. The Royal Bank of Scotland and its parent, the Royal Bank of Scotland Group, are completely separate from the fellow Edinburgh based bank, the Bank of Scotland, which pre-dates the Royal Bank of Scotland by 32 years.
Thursday's Dow is 6 market days to Quadraple Witching Day.
Nikkei Futures expiry:24 hours.
Asian Index Futures expiry:16 market days.
9:30am:--The trade deficit for October totaled $32.9 billion (expected $36.8b) boosted the opening.Wondering which group of market manipulators are dictating the expectation figures?Seems that the world market is being held at their ransom.
10:30am/1:30pm/3:30pm:--Pullback to the MAV support.(triple hammering)
4:00pm:--Bull trap hammer.
A promising short-covering .An inverted hammer on Thursday has pierced through the month's MAV resistance and the upper shadow will be lighted again.Meanwhile the candle's body is still being held in a bear territory and should be above the MAV to confirm a safe bull.
Trading volume has been rather light this session,I think not only the Dow,other markets elsewhere in the world the same.