網站 http://www.happyforum.org/ 歡迎超連結並轉寄網址
論壇 http://www.happyforum.org/happy/ 歡迎至論壇討論
Time：第 58次例會，2006年6月 3 日（週六）下午3~5點
Place： viewtopic.php?t=15
15:00-15:35 Free Talk
15:45-16:50 Topic discussion (suggest: 15 mins in article; 50 mins in questions).
16:50-17:00 Demonstration: How to read financial reports of your invested company.
Host: Cathy Lin
Assistant Host: James Shi
Source: http://biz.yahoo.com/mu/update.html
Investing: MARKET OVERVIEW
Latest Updates 4:20 pm : What was shaping up to be a respectable bounce after several days of consolidation created a sense that stocks were oversold on a short-term basis lost steam going into the close as inflation fears returned. The Dow failed to reclaim some of the 4.1% it has lost since topping out at a five-year high on May 5th. The Nasdaq fared even worse, relinquishing a 1.2% intraday which would have brought the index close to breakeven for the year before closing at a new six-month low.
Before the bell, stocks regained some upside traction as investors came to the realization that fundamentals haven't changed nearly as much as market sentiment. Despite very little in the way of corporate news and no economic data on the docket to set the tone, the fact that selling has extended beyond a fundamental reaction to an extra 0.1% on the core CPI and left stocks at very reasonable valuations also left many thinking that the market bottom had finally been reached. Nonetheless, some uncertainty ahead of the April core PCE deflator -- another widely watched inflation measure that will hit the wires Friday morning, and ongoing concerns about higher interest rates and rising commodity prices -- both of which address inflation concerns that continue to underscore our Neutral market view -- returned to the forefront of investors' psyches.
To wit, the yield on 10-yr note rebounded to 5.05%, ending a three-day rally in Treasuries that yesterday pushed the 10-yr yield below the psychologically significant 5.00% barrier to hit 4.986% -- the lowest level since late April. The latter took a toll on Utilities, which turned in the day's worst performance since higher bond yields diminished the attraction of dividend paying stocks. The rise in borrowing costs eventually weighed on the Financial sector as well, offsetting renewed momentum in one of the sector's few bright spots. The mortgage lender gained 1.0% after the release of a report compiled by the Office of Federal Housing Enterprise Oversight was billed as a step in the right direction.
On the commodity price front, oil prices surged 2.6% and climbed back above $71 a barrel, which renewed some influential leadership in Energy to the tune of more than 2.5% intraday; but that wasn't enough to prevent late afternoon profit-taking which left the sector flat on the day. Also initially benefiting from the sense that ongoing consolidation in commodities was overdone was Materials, which was up more than 2.0% at one point as copper soared 12% to post its best one-day gain ever and gold traded higher for the first time in five days. When it was all said and done, however, what had acted as sources of early support quickly became apparent as sources of nervousness with regard to the direction of Fed policy.
Also weighing on the proceedings was the influential Technology sector's inability to hold onto modest recovery efforts, as evidenced by the tech-heavy Nasdaq totally erasing an early gain of 1.2% to eventually leading the way lower among the majors. The biggest drag on the sector was further deterioration in the Semiconductor group, which was up 1.4% before completely rolling over into the close to finish down 1.6% and extend its year-to-date decline to more than 3.0%.
Vocabulary:
Bounce 彈,反彈;跳,躍[C]
inflation fears (n.通膨的恐懼)
Dow= Dow Jones Industry Average 【股】道瓊斯工業指數
Oversell 銷售過多; 賣空(股票)
Nasdaq = National Association of Securities Dealers Automated Quotation 那斯達克(美國全國證券交易商協會自動行情指數)
Relinquish 交出,讓與[(+to)]; 鬆開,放開
Breakeven 損益平衡點; 商業)無虧盈,保本
Regain 取回,收回;收復,恢復; 返回,回到
Traction 牽引;牽引力; 附著;摩擦力; 【生理】收縮
Fundamental 基本原則(或原理)
Sentiment 意見,觀點
Docket 一覽表;事項表; 備忘錄
CPI= consumer price index 消費物價指數
Deflator緊縮通貨者; 扣除通貨膨脹因素的 (價格) 指數; 扣除貨幣價值變動因素的平減指數
Underscore 在...下劃線; 強調
Neutral 中立者
Psyche 心理;心理學
Yield 產量;收穫量;收益,利潤[C][U]
Momentum [物】動量,衝量[U][C]
Questions for discussing：
1. What’s your opinion to the current economy in Taiwan? What’s the main difference of the investment environment if you compare with your parents’ generation? Is it getting better or worse? If you had one million on hand, how would you make use of it? Would you put it into investment or just deposit it in the bank?
2. Do you have any experience of making or losing money because of the investment plan? Share with us. (Investing in stocks, funds, options…etc.)
3. As my mother said, we should keep distance with people who like gambling.
However, some people see gambling as an investment.
What’s the difference between “ gambling” and “ investment”?
4. Are you a risk-taker? We know “ high profit means high risk”. Would you take risk of investing your money for higher profits?
5. Do you believe the analysts (or so-called Master) showing on TW program and they persuade you to buy some stocks? Have you ever made any investment following their instructions?
Addition: We will show you how to read the Financial Reports before you make any investment. This is the first time our club discuss topic related investing. We hope you can learn something from it and apply it to your future investment. ^ ^
例會須知 參與例會，請自行列印當週的討論文章並帶至現場，圖示如下：
請將社團網站，加入我的最愛 http://www.happyforum.org/
台北，每週六 (2005年6月起)
Taipei, Saturday, Weekly
from June, 2005
Place：
viewtopic.php?t=15
高雄，每月最後一個週日 (2007年4月起)
Kaohsiung, Final Sunday, Monthly
from April, 2007
Place：
viewtopic.php?t=15
