Archive for October 2012

  • Qatar: supported by one stock

    On October 21, we said that the Qatar index (QSI) successfully tested the support at the 8420-8450 zone and that our call to go long on October 11 played out well. We also highlighted the index’s break above the short-term [...]

  • Dubai: still playing it safe

    On October 17, we said that our initial target of 1650 was attained by the Dubai index (DFMGI) and we highlighted the tight trading zone of 1620-1650 the index was stuck in. Our view was that a break from the range was [...]

  • S&P turns bearish, could start a global down move

    The last thing regional markets needed was a bearish reversal in global indices led by the US. And we are not talking about a one-day contagion effect that will spill-over to the region but a bigger potential down move triggered by the world’s leading markets [...]

  • A call for aggressive traders

    The Dubai index (DFMGI) continues to test the resistance along the upward channel line and as we made clear in our last update, we expect the upcoming Q3 results to determine the next short-term direction. In other words, a strong Q3 season will likely [...]

  • Qatar: holding on

    On October 11, we highlighted the importance of the short term support zone of 8420-8450 in the Qatar index (QSI) saying that the appropriate strategy for traders was to take a long position and bet that the support would hold [...]

  • Saudi: support tested, now what?

    On October 14, we highlighted the key support zone of 6500-6650 in the Saudi index (TASI) and we said the market would soon present new buying opportunities. We then quickly followed our note with buy recommendations on two of the banks and said that more would follow [...]

  • Talk about divergence

    In prior commentaries, we highlighted the strong market performance in Dubai’s DFMGI since June of this year and we said that our general bias remained positive despite our shift to a cautious trading approach. One stock that seems to resist the positive trend, however, is [...]

  • Dubai: look for the break

    The much highlighted resistance level at 1650 continues to be tested by the Dubai index (DFMGI) further validating our latest view on the market. In our note dated October 10, we highlighted the anticipated run up in the market and we said [...]

  • Abu Dhabi: ADI looks toppy, at inflection point

    The Abu Dhabi index (ADI) has registered a strong performance year-to-date. As highlighted on the chart, the ADI was able to find renewed buying interest following the spring correction. It is currently testing the high that was attained in March 2012 and which clearly [...]

  • Saudi: how to play the pull back in TASI

    On October 8, we presented our medium-to-long term view on the Saudi market saying that the index (TASI) was approaching a key support zone around 6500 and that the latest pull back was setting the stage up for new buying opportunities [...]