E A New Contest; Understanding India; Global Stock Roundup

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Attempting to understand a company in the routing and data transfer areas tempting one of our techie readers who knows all about interconnection photronics or optronics, I ran into this comment from a chartist named Sharon on the website both reader GY and I subscribe to:

"No bueno. The chart is heading south, under the ichimoku cloud, negative Chaiken money flow, and a very choppy pattern. Resistance is overhead at 9 and it looks like a Elliott wave bearish wave downside correction.

“I would wait for any indicator that shows a reversal from it’s[sic] present downtrend off the June 19 th high of 10.05. maybe there’s an upcoming event that can move it.

“It pays a good dividend, which appears to be moving the stock through the execution and payout cycles."

As if that were not enough, here is a msg later received, I think, from Google (with a do not reply stamp):

“Publisher ID: ca-pub-4651807170625812

“Dear Publisher,

“We have now verified that we are no longer detecting PII being passed to Google from the account(s) under your control. Thank you for helping to resolve this matter.

“Regards,

“The Google Policy Team”

The reader collective is invited to help me understand these messages. A free 3-month trial subscription or subscription extension is offered to anyone who can explain what either message is saying.

Abhimanyu Sisodia wrote about the Indian 2015-6 fiscal year budget which was "tabled" Sat. (UK usage, meaning presented rather than deferred as on Capital Hill.) "I thought the Budget did not live up to the Modi hype."

I noted that the budget kept the old gold import duty in place, while trying to get Indian owners of the precious metal to lend it to jewelry makers to help them boost business despite the duty. I expect that will not fly.

India will now use an inflation target rather than a govt deficit target which may be helpful in keeping the rupee steadier. And it plans desperately-needed infrastructure spending in the coming FY while austerity is delayed until FY 2016-7.

Abhimanyu leads with two notes:

*The staggering 30% tax on iron ore export remained unchanged, but the import tax on metallurgical coke for steel-making was raised from 2.5% to 5%.

Vivian notes: This is bad news for Sesa Sterlite, SSLT.

Technology

*Infosys bagged a 5-yr contract from global express delivery company TNT for an undisclosed amount. Dutch TNT is overhauling its IT systems. INFY will do application development and maintenance.

*Nokia, the world's third-largest mobile equipment maker, has seen nothing in its business that would lead it to change its financial outlook, its CEO Rajeev Suri said yesterday at a press conference in Spain before the Mobile World Congress trade show in Barcelona. This confirmed earlier Suri remarks that the lower euro will bost business for the Finnish maker of telephone exchange equipment. NOK.

*The stock Sharon the chartists and our reader GY are looking at is ST Microelectronics, STM on the Big Board. We owned it before the tech bust and sold it mainly because management was unable to manage a chip-maker subsidized by the French and Italian governments in an attempt to challenge Asian and US rivals. STM is incorporated in Switzerland and runs plants worldwide (including Texas.) It had sales of $7.4 bn last year in semiconductors for industrial applications, inkjet printheads, Micro-Electro-Mechanical Systems or MEMS), MEMS sensors, set-top-box and home-gateway SoCs and smartcard chips, automotive integrated circuits, computer peripherals, and chips for wireless and mobile apps. GY and I both began to consider STM after www.stockgumshoe.com deciphered a newsletter promotion about it from Michael Robinson's Radical Technology Profits which after rebates costs $1000/yr.

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