TASI

01.17 Middle East Markets Plunge as Iran Plans Massive Oil Exports

by John Galt January 17, 2016 09:40 ET OUCH! While U.S. markets may be closed for a government union sponsored day off on Monday, the rest of the world’s equity markets are imploding once again. The lifting of economic sanctions by the United States and United Nations was promptly followed by the Iranian government promising to ramp up oil exports as soon as today or Monday. The resulting addition of more oil to the markets and an illiquid Asian equity situation should set up a nice crash in Brent prices overnight…


Is Saudi Arabia Begging US Banksters for an Economic Bailout?

by John Galt September 7, 2015 19:00 ET The first observation is the biggest lie of them all; that the crash in oil prices has not hurt the Saudi Arabian stock market and economy. The Tadawul All Shares Index (TASI) demonstrates this fact (chart courtesy of Bloomberg): Thus this could be one of the reasons for the peculiar headline from the Financial Times this evening: Saudi Arabia’s king meets top US executives in investment drive Usually it is the other way around; US executives beg the Saudis to invest part of…


06.15 Middle East Financial Markets Down 1% to almost 5% on War Jitters

by John Galt June  15, 2014 08:00 ET Other than Bahrain, Israel, and Oman experiencing minor declines the nations with the most to worry about with regards to the conflict in Iraq experienced a financial jihad of their own today as markets declined from 1 to 5% throughout the region. A trader quoted in a Bloomberg-Businessweek article this morning said it best: “Any regional unrest is bad news for the market, certainly if it’s looking for an excuse to correct anyway,” Julian Bruce, the head of institutional trading at EFG-Hermes U.A.E….


June 8th Middle East Stock Markets take a Mini-Swoon but Why?

by John Galt June  8, 2014 14:30 ET Interestingly enough, while the U.S. economy appears to be performing like the greatest  juggernaut of all time as it creates more part time McJobs than at any other point in our modern history, the Middle Eastern equity markets have also been chugging along quite nicely with many setting all time highs and recovering completely from the dire dark days of the Federal Reserve’s harvest of 2008-2009. Of course while the Dow and S&P 500 achieved new highs on Friday after the phony BLS…


04.13 Middle East Stock Markets Continue Decline Following Wall Street’s Lead

  by John Galt April 13, 2014 11:15 ET The picture from the Middle East stock markets this morning was not good with most major indices closing close to 1% down or lower as there appeared to be no bid as some markets closed with the violence increasing in the Ukraine. The biggest loser was without a doubt the Dubai DFM which had a late hour sell off possibly indicating the sentiment with the wars in Syria and Ukraine heating up (all charts via Bloomberg.com): While that market was hit hard,…


8/27 Middle East Markets Camel Slammed; Dubai down over 6%

  by John Galt August  27, 2013 05:30 ET Gee, I wonder if any FOO’s (Friends of Obama) were short the market before Secretary of State Kerry’s announcement yesterday. Meanwhile over in the land of camels one rides instead of smokes equity markets are getting toasted like an animal carcass in the Saudi desert. Dubai is leading the way down with a 6.52% decline: (chart from Bloombeg.com) Saudi Arabia’s TASI is not far behind with an over 3.5% drop: (chart from Bloombeg.com) A quick look at other markets around Asia and…



March 31, 2013: Middle East Markets Sending a Warning?

  by John Galt March 31, 2013 11:00 ET   Happy Easter to all! I find this morning’s action overseas quite interesting, as some of the major players in the Middle East equity markets sold off with no apparent cause or news event. Are they sending a message about the start of Q2 in the inept, corrupted, and manipulated Western markets? We’ll find out soon enough as the second quarter begins and the insanity of our centrally planned economy either bears more fruit of false fiat fraud or crashes down like…


06.03.12 Middle East Market Update: Israel down 2%, Saudi Flat, Others down 1-2%

  by John Galt June 3, 2012 07:50 ET   Here we go again. With the Saudi market bouncing back into a positive move for the day, albeit small (0.34%) and looking to close relatively flat there was some hope that the markets might recover in the Middle East to put a floor under U.S. collapse on Friday. Unfortunately the rest of the region is down but not as bad as the TASI yesterday so it would appear everyone is waiting to see what Asia does, especially since the U.K. is…


Saudi TASI Stock Market Plummets after Dismal Friday on Wall Street

  by John Galt June 2, 2012 14:00 ET   For some reason, I don’t think the Royals wanted to follow the lead of the U.S. and its inept leadership in the financial markets like this:   No, my readers are not staring at a misprint, the Saudi Arabian TASI collapsed 4.22% in its Saturday session. The implosion in U.S. equities on Friday apparently has angered the camels of the Kingdom and based on the opening 5 minutes of trading started a stampede into safety. If this rolls into the Sunday…


04.15.12 – Saudi Markets down 2.34%, Israel down 1.80%

by John Galt April 15, 2012 10:15 ET   Don’t worry, be happy. The markets will turn around just as soon as Uncle Ben proclaims “We are the World” (Catchy song title, eh?) and buys every equity from any exchange on the planet Earth. The Saudi Arabian TASI seems to indicate further pain for Asian and US equity markets on Monday: (click on thumbnails to enlarge graphs) With the Israeli TASE down 1.80% it doesn’t look like any serious relief is forthcoming when Japan and China open tonight: The key will…


4.8.12 Middle East Markets: Mixed but generally Down

by John Galt April 8, 2012 11:00 ET The anticipation building up for the open of U.S. futures tonight is highlighted by the action in the Israeli and Arab markets which were open for trading today. In lieu of the non-farm payroll data, the theory is that there will be a decent sized plunge at the open of the US markets. The Saudi market probably illustrates the pattern the S&P 500 and DJIA will probably take; a sharp dive at the open with an afternoon recovery as the Saudi TASI did…


8/20 Saudi Arabian TASI Stock Market down 2.58%

By John Galt August 20, 2011 – 08:30 ET And the selling continues with the Saudi markets failing to hold the psychological level of 6000 and down 164.47 points as of this posting. The selling worldwid appears to be snowballing into a potentially ugly event Sunday night and Monday which will end up on America’s doorstep once again. (Chart from btflive.net) Update: Closed on the day -2.58%. Well below the magic 6000 level for investor confidence. Next up is a retest of the 5000 mark.



8/7 Middle East Stock Markets: Nothing to see here, move along

By John Galt August 7, 2011 08:10 ET Uh, where are all the dramatic headlines one would expect to see at my blog on crashes worldwide? Not today thus far my fine audience….the camels are sleeping this one off: (quotes as of 0800 ET from BTFLive.net) I guess the Saudi royal family decided to buy stocks to keep their nation appearing as the only stable economy in the region. The only equity market really tanking  is the only democratic nation in the region, Israel, which is down a sharp 6%+ and…


Saudi Markets down 5.46% Today but the real show is Sunday

By John Galt August 6, 2011 I wouldn’t get too excited about today’s 5.46% drop in the TASI (Tadawul Stock Exchange) in Saudi Arabia as they are the largest holder of US Treasuries in the region. Sunday, when many of the markets who have been closed due to Ramadan, will re-open and that will be the true  measure of the reaction to the S&P ratings action. In the mean time, here are some pretty charts now that the Saudi markets are closed including a wild chart of “gainers” which might be…



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