Search Blog Entries
Feeds for this site
References and Recommendations
Feedburner & Technorati

Sitemeter
License
Creative Commons License
This work is licensed under a Creative Commons License.
Contact and login
Currently Reading
  • Lectures on Macroeconomics
    Lectures on Macroeconomics
    by O J Blanchard
  • Keynes Hayek: The Clash That Defined Modern Economics
    Keynes Hayek: The Clash That Defined Modern Economics
    by Nicholas Wapshott
  • Save the Cat!: The Only Book on Screenwriting You'll Ever Need: The Last Book on Screenwriting You'll Ever Need
    Save the Cat!: The Only Book on Screenwriting You'll Ever Need: The Last Book on Screenwriting You'll Ever Need
    by Blake Snyder
SQP
Powered by Squarespace
The Conversation
« Quick Check-up on the Eurozone | Main | Poland (and Eastern Europe) Revisited ... »
Sunday
Jul222007

Lithuania Under the Loop

As promised below in my brief note on my continuous coverage of the CEE economies I am going to take a close look at Lithunia's economy and as such try to give a solid picture of what the risks are of a hard landing. More specifically, I will be looking at the labour market and the formation of price and employment expectations.  My immediate impetus to do this is the amount of attention I got regarding my last in-depth look at Lithuania where I asked the timely of whether in fact Lithuania was running fast out of capacity relative to the sizzling growth rates. In short, I want all my bases covered on this one.

In this way, this entry will be pretty data intensive so be sure to load up on the caffeine for this one.

If we turn first to the general economic indicators I already noted in my last post how growth measured by GDP was powering ahead. An important part of this picture is of course to look at the external balance as where Lithuania as well as Latvia has seen its external balance deteriorate somewhat lately. This is visualised in the two figures below ...

lithuania.GDPQuart.jpg 

lithuania.current.account.jpg 

If we turn to various measures of prices we also see a secular increase in price levels which is a clear sign that capacity issues are mounting. Note especially the soaring labour costs as well as the ever creeping CPI. Regarding the PPI I have to say that I cannot account for its rather dodgy course as of late (feel free to illuminate this in the comments section). In general, we should also note (as a reference) that while the figures indeed look sizzling in Lithuania they are not at the level of Latvia's where both the CPI measure as well as labour costs are demonstrating higher growth rates than in Lithuania.

prices1.lithuania.jpg 

prices2.lithuania.jpg 

As should be readily clear through the numbers Lithuania is very much thundering ahead at the moment and given the underlying capacity issues I have already drawn somewhat attention to, the question still remains as to how far this can go without a correction. Yet what is it with that Lithuanian labour market then and what are indeed the underlying capacity issues? In order to shed light on these questions we need first to get a grip on the latest developments in the Lithuanian labour market as well as to gauge the future expectations of prices and employment from the point of view of producers (and YES, I do have data on this :)). As we go through the following figures it is important to keep the long term development in mind as it was sketched out in my previous post on Lithuania linked above. The two main points to watch out when we gauge future trends is the secular decline in the labour force as well as the annual net outward migration (see the two graphs in the previous post linked above). Now, if we look at the unemployment rate first as I cited it at 2.7% we need to be aware of a fundamental downward bias in this figure relative to the figures cited at Eurostat and the Department of Statistics in Lithuania. As such the figure cited by Bloomberg both in terms of unemployed people in total as well as the official unemployment rate comes from the Vilnius-based Labor Exchange office. Now, this small detail is important since it appears as if there is some discrepancy between the figures released under the seal of the official statistics department and the labor exchange office (Eurostat seem to cite from the former). This might of course be due to methodological issues but in the case of Lithuania the difference is not so trivial. At this point, the confusion might of course seem total but the figures below should aid you with the big picture (note the difference in time perspective of the graph sets).

lithuania.unemployment.eurostat.jpg 

lithuania.unemployment.litstatistics.jpg 

lithuania.unemployed.eurostat.jpg 

lithuania.unemployed.litstatistics.jpg 

Before moving further I would like to point towards the last graph which also shows the rise of vacancies. As can be seen the trends in vacancies and unemployed people are now moving in opposite direction which is of course a de-facto proxy for declining capacity. Now for somebody not trained in economics it might seem a bit overdone all this since there is clearly still enough unemployed persons relative to vacancies. However, here we need to think about two things. First off is the general trend. As the economy keeps growing new jobs will be created which will put a pinch on the labour supply as vacancies rise relative to dwindling capacity. However, more worrying is the fact that that there are also structural factors at play here such as the general demographic profile and net outward migration. In short, these two curves are moving rapidly closer. Secondly, and this is where your economic wit is tested, only in a very perfect world can we expect a perfect match between demand and supply on the labour market. In fact, there are bound to be notable mismatches on the labour market already given the very low unemployment rate and as vacancies rise this will exacerbate the situation through rising labour costs and inflation which is clearly not warranted given the economy's ability to absorb the activity. Moreover, the prospect of raising participation as well as to ameliorate the structural mismatches (often sectoral) is very dim in this environment since the gap is closing really fast.

Lastly and before I leave you to digest all this I present two very graphs which sort of nails this whole idea of how capacity is not able to match current and in this case expected growth rates. The graphs themselves are informative but not, as it were, very logical and a bit messy too (which BTW is my doing entirely). Any value over 0 indicates that optimists outweigh pessimists. The value itself indicate the amount of percentage points which one group outweigh the other. A small value close to 0 thus indicate a close even balance between the two groups but it does not tell us whether this is because the two groups are very large (i.e. a polarized distribution) or whether the amount of respondents who take the middle position (i.e. status quo) is large which would indicate a centered distribution. Pff, let us look at the graphs shall we?

lithuania.employment.expectations1.jpg 

lithuania.selling.expectations1.jpg 

So, what the heck are we looking at here then? Well, in fact it is not that complicated and quite frankly graph number one does not make me any more calm about the general economic prospects. As such, the employment expectations in all key industries not only show a clear, but also in some of the cases, substantial level of expectation to hire more workers in the next 2-3 months. In fact the propensity to hire more workers has shot up lately in the first part of 2007 with the exception of the industrial sector. Once again this is sign that expectations are still running high relative to what seems to be the economic fundamentals. Especially, if the relative propensity to hire more workers across a wide selection of sectors stay at this level it is hard to see how this cannot end with some kind of correction since it will only make worse the run on capacity. Moving to second graph it seems as if inflation expectations on the push side seems to somewhat better anchored than for example is the case in Latvia. The notable exception here of course is the construction sector where both employment and price expectations seem to be rather elevated although we can't of course say anything about the actual expected price level from these indicators.   

In Summary

With the graphs and notes above I hope that I have now delivered a sufficiently comprehensive account as regards to my general thesis that many CEE economies are in for some kind of correction. In Lithuania, we should be able to take some comfort in the fact that inflation expectations and pressures seem to be somewhat milder than in e.g. Latvia but still the labour costs indicator is, for all intent and purposes, in red hot territory. The most alarming signs of a potential correction comes from the labour market where (whatever indices you abide by) expectations of future and able capacity clearly seems out sync with current and future levels given the well known structural driving forces. In this way, it won't take long after expectations of future employment has corrected before the effect trickles down to confidence and demand measures and thus economic activity. As I previously argued, Lithuania needs to stop and preferably reverse the migration flow and this needs to happen in 2007. Moreover, efforts need to be taken to improve labour market participation rates. As regards to the external balance which is also getting much attention the relative decline in competitiveness is of course also an important aspect to watch out. In this respect the recent sharp drop in the PPI measure surprises me a bit.

PrintView Printer Friendly Version

EmailEmail Article to Friend

References (3)

References allow you to track sources for this article, as well as articles that were written in response to this article.
  • Response
    Response: www.Litwa.xmc.pl
    Lithuania has been criticized by Jewish organizations and U. S. Congressmen for allowing construction in the area, which was used as a Jewish cemetery untilit was closed in the 19th century. Jews had said it was still sacred ground.
  • Response
    NFL is truly one of the most significant sports in America. It has a key following.
  • Response

Reader Comments (58)

Hi,

Once again after crash Nifty has started going up. Now we suggest all rises should be used as an opportunity to exit old long positions.
This bull run will continue for few more days. Overall market is in bearish mood as in medium term its just a small rally due to short covering
and result season.


Happy Trading,

<a href="http://www.sharegyan.com"title="ShareGyan">ShareGyan</a>
October 29, 2008 | Unregistered CommenterShareGyan
Dear Visitors,
Now we have seen that Nifty has already cracked down alot due to recession fear. Reality sector was the worst affected in this fall. Stocks like WWIL, Unitech etc has fallen quite drastically. Investors are loosing confidence in the market. Maximum stocks are trading atleast 30% down from there 52 week high in <a href="http://www.sharetipsinfo.com" title="Indian stock market"> Indian stock market </a>.

Now one can think of buying stocks for Long term.

Few best stocks to be picked are:-

1. Reliance
2. Suzlon
3. Sesagoa
4. LT

Just grab these stocks at every dip and stay invested for atleast 3 months and see the appreciation yourself.

Regards
<a href="http://www.sharetipsinfo.com" title="SHARETIPSINFO TEAM">SHARETIPSINFO TEAM </a>




For any doubt please feel free to ask us.


Thanks

Regards

<a href="http://www.sharetipsinfo.com" title="SHARETIPSINFO TEAM">SHARETIPSINFO TEAM </a>
November 8, 2008 | Unregistered Commentersharetipsinfo
Hello,
Stock market is a volatile market. Investors are afraid of entering Indian stock market due to such volatile conditions. FII are the one who are selling
shares like anything. Now we can see some relief rally in the market but still recession can curb the movement of the stock market. In these sort of market investors and
traders are confused like which stock they should select that is stock selection is the major issue now.

Have any doubt lets discuss it and help everyone

Happy Trading,

<a href="http://www.sharegyan.com"title="ShareGyan">ShareGyan</a>
December 11, 2008 | Unregistered Commentersharegyan
This blog is nice and informative,good to know that the blog created by the webmaster is very helpfull to the visitors

Now on Saturday i.e 6th Dec'08 RBI has cut Repo rate by 100 BPS to 6.5%, due to this we can see some rebound in the http://knowyourprofit.com Indian Stock Market</a>,as this is one of the factors which will also decide the movement of Nifty in coming days along with different other factors,our advice for intraday traders is to trade light


Any Query

Call us

+91-9871142419
+91-9212663485


http://www.knowyourprofit.com
January 9, 2009 | Unregistered CommenterKnowYourProfit
This blog is nice and informative,good to know that the blog created by the webmaster is very helpfull to the visitors

Now on Saturday i.e 6th Dec'08 RBI has cut Repo rate by 100 BPS to 6.5%, due to this we can see some rebound in the http://knowyourprofit.com Indian Stock Market,as this is one of the factors which will also decide the movement of Nifty in coming days along with different other factors,our advice for intraday traders is to trade light


Any Query

Call us

+91-9871142419
+91-9212663485


http://www.knowyourprofit.com
January 16, 2009 | Unregistered CommenterKnowYourProfit
This blog is quite nice and informative, it is our pleasure to post a comment on this usefull blog created by a webmaster

Now as such we all know that in India Elections are just around the corner which would in turn effect the movement of the
<a href="http://knowyourprofit.com" title="Indian Stock Market">Indian Stock Market</a> which means the time has come when a common man should start thinking of investing in the Indian Share Market
which would help him to increase the invested amount because one should not avoid the Opportunities come in Daily Life

We welcome your Quieries at


<a href="http://knowyourprofit.com" title="KnowYourProfit">KnowYourProfit</a>
June 3, 2009 | Unregistered CommenterKnowYourProfit
Buy BSE Unlisted Shares
Buy Bombay Stock Exchange
Stock Available at Discount
Expected IPO Price Rs. 500 - 550
Contact Us : 0712 - 2567489
October 23, 2009 | Unregistered CommenterPraveen Agrawal
Hi,

Stock market India is volatile and all those who speculate in market are loosing everyday. Please remember stock market is not for speculation purpose. If one feel investing in stock market is gamble then its better to think again.

One should always note that if they want to invest money they should do proper research be it fundamental research or technical research. Just think how come you can invest
your money without any convincing reason for the same?

Indian stock market is one of the most happening and emerging market. Major Indian stock exchanges are BSE and NSE and both are of world class standards.

So grab good stocks and invest that’s the bottom line.

We hope to see you in major profits.

Regards
<a href="http://www.sharetipsinfo.com" title="SHARETIPSINFO TEAM">SHARETIPSINFO TEAM</a>
November 17, 2009 | Unregistered Commentersharetipsinfo
Hi,

Stock market India is volatile and all those who speculate in market are loosing everyday. Please remember stock market is not for speculation purpose. If one feel investing in stock market is gamble then its better to think again.

One should always note that if they want to invest money they should do proper research be it fundamental research or technical research. Just think how come you can invest
your money without any convincing reason for the same?

Indian stock market is one of the most happening and emerging market. Major Indian stock exchanges are BSE and NSE and both are of world class standards.

So grab good stocks and invest that’s the bottom line.

We hope to see you in major profits.

Regards
<a href="http://www.sharetipsinfo.com" title="SHARETIPSINFO TEAM">SHARETIPSINFO TEAM</a>
January 8, 2010 | Unregistered Commentersharetipsinfo
Hi,

Stock market India is volatile and all those who speculate in market are loosing everyday. Please remember stock market is not for speculation purpose. If one feel investing in stock market is gamble then its better to think again.

One should always note that if they want to invest money they should do proper research be it fundamental research or technical research. Just think how come you can invest
your money without any convincing reason for the same?

Indian stock market is one of the most happening and emerging market. Major Indian stock exchanges are BSE and NSE and both are of world class standards.

So grab good stocks and invest that’s the bottom line.
February 5, 2010 | Unregistered CommenterSharetipsinfo
Hi,

Stock market India is volatile and all those who speculate in market are loosing everyday. Please remember stock market is not for speculation purpose. If one feel investing in stock market is gamble then its better to think again.

One should always note that if they want to invest money they should do proper research be it fundamental research or technical research. Just think how come you can invest
your money without any convincing reason for the same?

Indian stock market is one of the most happening and emerging market. Major Indian stock exchanges are BSE and NSE and both are of world class standards.

So grab good stocks and invest that’s the bottom line.

We hope to see you in major profits.

Regards
<a href="http://www.sharetipsinfo.com" title="SHARETIPSINFO TEAM">SHARETIPSINFO TEAM</a>
February 9, 2010 | Unregistered Commentersharetipsinfo
Hi,

Stock market India is volatile and all those who speculate in market are loosing everyday. Please remember stock market is not for speculation purpose. If one feel investing in stock market is gamble then its better to think again.

One should always note that if they want to invest money they should do proper research be it fundamental research or technical research. Just think how come you can invest
your money without any convincing reason for the same?

Indian stock market is one of the most happening and emerging market. Major Indian stock exchanges are BSE and NSE and both are of world class standards.

So grab good stocks and invest that’s the bottom line.

We hope to see you in major profits.

Regards
<a href="http://www.sharetipsinfo.com" title="SHARETIPSINFO TEAM">SHARETIPSINFO TEAM</a>
February 25, 2010 | Unregistered Commentersharetipsinfo
Highlights of Union Budget 2010-11
Finance Minister Pranab Mukherjee presented the Union Budget 2010-11 in parliament on Friday. Has he lived up to the expectations of the taxpayers? Is it a populist Budget? Will it also help India to grow? To find out read on..

Highlights...

* FM prunes tax rates:
Income up to Rs 1.6 lakh - nil Income above Rs 1.6 lakh and up to Rs 5 lakh - 10 per cent
Income above Rs 5 lakh and up to Rs 8 lakh - 20 per cent
Income above Rs 8 lakh - 30 per cent.
* Income Tax department ready with two-page Saral-2 return forms for individual salaried assesses.
* New tax rates would offer relief to 60 per cent of tax-payers.
* Government's net borrowing to be Rs 3,45,010 crore for 2010-11.
* Additional deduction of Rs 20,000 allowed on long term infrastructure bonds for income tax payers; this is above Rs one lakh on saving instruments allowed already.
* A unique identity symbol would be provided to the Indian Rupee in line with US Dollar, British Pound Sterling, Euro and Japanese Yen.
* Fiscal deficit seen at 4.8 per cent and 4.1 per cent in 2011-12 and 2012-13 respectively.
* Total expenditure pegged at Rs 11.8 lakh crore, an increase of 8.6 per cent.
* Gross tax receipts pegged at Rs 7,46,656 crore for 2010-11, non-tax revenues at Rs 1,48,118 crore.
* FM appeals to "misguided elements" (left wing extremists) to eschew violence and join the mainstream.
* Planning Commission to prepare integrated action plan for Naxal-affected areas.
* Defence allocation pegged at Rs 1,47,344 crore in 2010-11 against Rs 1,41,703 crore in the previous year. Of this, capital expenditure would account for Rs 60,000 crore.
* Fiscal deficit pegged at 6.9 per cent in 2009-10 as against 7.8 per cent in the previous fiscal.
* Finance Minister to continue giving cash subsidy for fuel and fertiliser instead of previous practice of bonds.
* Non-plan expenditure pegged at Rs 37,392 crore and Plan expenditure at Rs 7,35,657 crore in budget estimates. 15 per cent increase in plan expenditure and six per cent in non-plan expenditure.<a href="http://www.stockproindia.com" title="Indian stock market"> Indian stock market </a><a href="http://www.stockproindia.com" title="Indian stock market"> Indian stock market </a>stockproindia.com
March 2, 2010 | Unregistered Commenterstockproindia
Highlights of Union Budget 2010-11
Finance Minister Pranab Mukherjee presented the Union Budget 2010-11 in parliament on Friday. Has he lived up to the expectations of the taxpayers? Is it a populist Budget? Will it also help India to grow? To find out read on..

Highlights...

* FM prunes tax rates:
Income up to Rs 1.6 lakh - nil Income above Rs 1.6 lakh and up to Rs 5 lakh - 10 per cent
Income above Rs 5 lakh and up to Rs 8 lakh - 20 per cent
Income above Rs 8 lakh - 30 per cent.
* Income Tax department ready with two-page Saral-2 return forms for individual salaried assesses.
* New tax rates would offer relief to 60 per cent of tax-payers.
* Government's net borrowing to be Rs 3,45,010 crore for 2010-11.
* Additional deduction of Rs 20,000 allowed on long term infrastructure bonds for income tax payers; this is above Rs one lakh on saving instruments allowed already.
* A unique identity symbol would be provided to the Indian Rupee in line with US Dollar, British Pound Sterling, Euro and Japanese Yen.
* Fiscal deficit seen at 4.8 per cent and 4.1 per cent in 2011-12 and 2012-13 respectively.
* Total expenditure pegged at Rs 11.8 lakh crore, an increase of 8.6 per cent.
* Gross tax receipts pegged at Rs 7,46,656 crore for 2010-11, non-tax revenues at Rs 1,48,118 crore.
* FM appeals to "misguided elements" (left wing extremists) to eschew violence and join the mainstream.
* Planning Commission to prepare integrated action plan for Naxal-affected areas.
* Defence allocation pegged at Rs 1,47,344 crore in 2010-11 against Rs 1,41,703 crore in the previous year. Of this, capital expenditure would account for Rs 60,000 crore.
* Fiscal deficit pegged at 6.9 per cent in 2009-10 as against 7.8 per cent in the previous fiscal.
* Finance Minister to continue giving cash subsidy for fuel and fertiliser instead of previous practice of bonds.
* Non-plan expenditure pegged at Rs 37,392 crore and Plan expenditure at Rs 7,35,657 crore in budget estimates. 15 per cent increase in plan expenditure and six per cent in non-plan expenditure.<a href="http://www.stockproindia.com" title="Indian stock market"> Indian stock market </a><a href="http://www.stockproindia.com" title="Indian stock market"> Indian stock market </a>stockproindia.com
March 2, 2010 | Unregistered Commenterstockproindia
Highlights of Union Budget 2010-11
Finance Minister Pranab Mukherjee presented the Union Budget 2010-11 in parliament on Friday. Has he lived up to the expectations of the taxpayers? Is it a populist Budget? Will it also help India to grow? To find out read on..

Highlights...

* FM prunes tax rates:
Income up to Rs 1.6 lakh - nil Income above Rs 1.6 lakh and up to Rs 5 lakh - 10 per cent
Income above Rs 5 lakh and up to Rs 8 lakh - 20 per cent
Income above Rs 8 lakh - 30 per cent.
* Income Tax department ready with two-page Saral-2 return forms for individual salaried assesses.
* New tax rates would offer relief to 60 per cent of tax-payers.
* Government's net borrowing to be Rs 3,45,010 crore for 2010-11.
* Additional deduction of Rs 20,000 allowed on long term infrastructure bonds for income tax payers; this is above Rs one lakh on saving instruments allowed already.
* A unique identity symbol would be provided to the Indian Rupee in line with US Dollar, British Pound Sterling, Euro and Japanese Yen.
* Fiscal deficit seen at 4.8 per cent and 4.1 per cent in 2011-12 and 2012-13 respectively.
* Total expenditure pegged at Rs 11.8 lakh crore, an increase of 8.6 per cent.
* Gross tax receipts pegged at Rs 7,46,656 crore for 2010-11, non-tax revenues at Rs 1,48,118 crore.
* FM appeals to "misguided elements" (left wing extremists) to eschew violence and join the mainstream.
* Planning Commission to prepare integrated action plan for Naxal-affected areas.
* Defence allocation pegged at Rs 1,47,344 crore in 2010-11 against Rs 1,41,703 crore in the previous year. Of this, capital expenditure would account for Rs 60,000 crore.
* Fiscal deficit pegged at 6.9 per cent in 2009-10 as against 7.8 per cent in the previous fiscal.
* Finance Minister to continue giving cash subsidy for fuel and fertiliser instead of previous practice of bonds.
* Non-plan expenditure pegged at Rs 37,392 crore and Plan expenditure at Rs 7,35,657 crore in budget estimates. 15 per cent increase in plan expenditure and six per cent in non-plan expenditure.<a href="http://www.stockproindia.com" title="Indian stock market"> Indian stock market </a><a href="http://www.stockproindia.com" title="Indian stock market"> Indian stock market </a>stockproindia.com
March 2, 2010 | Unregistered Commenterstockproindia
Dear Visitor,
Thanks for visiting this nice and useful blog. As many events are about to happen soon. So we just want to share few things with all visitors as it might be helpful for everyone.

NSE and BSE are trading in range and we are expecting breakout in the market after budget. One should buy quality stocks at every decline and should exit long positions at every rise.

Regards
<a href="http://www.buzzingstreet.com" title="BUZZINGSTREET">BUZZINGSTREET</a>
March 2, 2010 | Unregistered Commenterbuzzingstreet
Hi,

Stock market India is volatile and all those who speculate in market are loosing everyday. Please remember stock market is not for speculation purpose. If one feel investing in stock market is gamble then its better to think again.

One should always note that if they want to invest money they should do proper research be it fundamental research or technical research. Just think how come you can invest
your money without any convincing reason for the same?

Indian stock market is one of the most happening and emerging market. Major Indian stock exchanges are BSE and NSE and both are of world class standards.

So grab good stocks and invest that’s the bottom line.

We hope to see you in major profits.

Regards
<a href="http://www.sharetipsinfo.com" title="SHARETIPSINFO TEAM">SHARETIPSINFO TEAM</a>
March 3, 2010 | Unregistered Commentersharetipsinfo
Dear Visitor,
Thanks for visiting this nice and useful blog. As many events are about to happen soon. So we just want to share few things with all visitors as it might be helpful for everyone.

NSE and BSE are trading in range and we are expecting breakout in the market after budget. One should buy quality stocks at every decline and should exit long positions at every rise.

Regards
<a href="http://www.buzzingstreet.com" title="BUZZINGSTREET">BUZZINGSTREET</a>

Stock market investment if done with proper research and updated knowledge than it can give very lucrative results. There are four basic golden rules of stock market which are to be followed
April 16, 2010 | Unregistered CommenterBUZZINGSTREET
Hi,

Stock market India is volatile and all those who speculate in market are loosing everyday. Please remember stock market is not for speculation purpose. If one feel investing in stock market is gamble then its better to think again.

One should always note that if they want to invest money they should do proper research be it fundamental research or technical research. Just think how come you can invest
your money without any convincing reason for the same?

Indian stock market is one of the most happening and emerging market. Major Indian stock exchanges are BSE and NSE and both are of world class standards.

So grab good stocks and invest that’s the bottom line.

We hope to see you in major profits.

<a href="http://www.stockproindia.com" title="BSE"> BSE </a>
<a href="http://www.stockproindia.com" title="NSE"> NSE </a>
<a href="http://www.stockproindia.com" title="stockproindia"> stockproindia </a>
April 21, 2010 | Unregistered Commenterstockproindia
<a href="http://sharetipsinfo.com" title="Indian stock market
recommendation">Indian stock market recommendation </a> is one of the fastest growing markets. Major stock exchanges like NSE and BSE are also growing in terms of volume, traded contracts and turnover on regular basis.

Now the question is how to select best stock pic of the day for intraday trade and positional trade? In this regard sharetipsinfo comes into the play.

At Sharetipsinfo we assure you high accuracy and our tips are based on technical analysis.

Once you comfortable and gains confidence than no one can stop day traders and investors from earning profit from the stock market.

Have confidence and trade without emotions and see how things changes for you in short while.

For any query feel free to contact us

Regards
<a href="http://www.sharetipsinfo.com/"
title="sharetipsinfo">sharetipsinfo
</a>
April 21, 2010 | Unregistered Commentersharetipsinfo

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
All HTML will be escaped. Hyperlinks will be created for URLs automatically.