Daily Markets - Financial News & Opinions |
- Chart Of The Day: A Decade Of No New Jobs In The US
- The New Smart Money?
- Stock Picks For Monday 11 January
- Week In Review: Wall Street And Main Street Are In Different Worlds
- Not All ETFs Are As Simple As You Think
- No Evidence That The Correlation Between The US Dollar And Stocks Has Been Broken
- S&P 500 Index: Still No Decisive Move
- Asia’s Sellout Season
| Chart Of The Day: A Decade Of No New Jobs In The US Posted: 09 Jan 2010 09:01 PM PST The US Labor Department Friday reported that nonfarm payrolls (jobs) decreased by 85,000 in December while the data for November was revised upward to show a gain of 4,000 jobs.
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| Posted: 09 Jan 2010 07:22 PM PST In a world where those who allegedly know best are doing dumb things like betting on V-shaped recoveries, buying overvalued stocks for all the wrong reasons, and generally repeating the mistakes that helped bring about the worst financial crisis this century, its ironic that, as the Associated Press reports in “Main Street to Wall Street: We Don’t Buy the Rally,” at least some ordinary Americans are looking like the real “smart money”: NEW YORK – Edward Shook can’t resist a bull market.
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| Stock Picks For Monday 11 January Posted: 09 Jan 2010 05:46 PM PST ( click to enlarge ) OceanFreight (OCNF) closed strong on Friday, as the stock ended the day at highs. The stock traded 2x normal daily volume, as buyers came rushing in. I like this stock and will watch it again on Monday. Resistance is $1.05, which was Friday’s high of the day. If OCNF can break through, we should see a strong upside move. Technical daily chart shows bullish sign with K line on top of D line and MACD on top of signal line. A decisive break of the 1.05 level on … [visit site to read more]
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| Week In Review: Wall Street And Main Street Are In Different Worlds Posted: 09 Jan 2010 05:44 PM PST The economy continues to send very mixed signals. The market screams like a scolded dog. The more things change, the more they stay the same. Welcome to our weekly Sense on Cents Week in Review. I will provide a streamlined recap of the major economic news and the month-to-date market moves. Let’s navigate. ECONOMIC DATA: 1. Manufacturing Index: 55.9 vs expectation of 54.8, a positive 2. Pending Home Sales: 96 vs 114.3 prior reading, a big negative 3. Fed Minutes: mixed … [visit site to read more]
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| Not All ETFs Are As Simple As You Think Posted: 09 Jan 2010 05:01 PM PST As the world of exchange traded funds (ETFs) expands, more products become available, but not all of them are as simple as you’d think. ETFs are becoming more sophisticated and complex, and every investor needs to know how they work for more efficient investing. Every investor needs to study up on ETFs before actually investing in them, remarks John Spence for MarketWatch. This research is crucial step that many investors have ignored, burning them in the process. For instance, United … [visit site to read more]
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| No Evidence That The Correlation Between The US Dollar And Stocks Has Been Broken Posted: 09 Jan 2010 04:05 PM PST As you all know, there has been a tight correlation between the US Dollar Index and equities for the better part of 9 months. If the Dollar goes down, then equities go up. Even if there is a hint that the Dollar might go down - let’s say, a bad employment report suggesting that the Fed will keep its foot on the monetary pedal even longer- stocks go up. We all have the drill down. The Fed throws us a biscuit, and we all stand up and bark! Since the Dollar has started to show signs of … [visit site to read more]
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| S&P 500 Index: Still No Decisive Move Posted: 09 Jan 2010 04:05 PM PST One would think, after a three-week hiatus, that there would be plenty to write about the market. But there isn’t. The S&P 500 has drifted higher in an ever-narrowing ascending wedge pattern, making little progress. Since the mid-October top, the S&P 500 has only gained about 40 points. You can see on the chart that the price index has kind of oozed above the top of the wedge, but only by a tiny amount, and certainly not decisively. In my opinion, the ascending wedge has not yet been … [visit site to read more]
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| Posted: 09 Jan 2010 09:00 AM PST Last weekend your editor attended an Italian opera at the National Theater here in Taiwan. The actors were all petite locals, but that didn't stop them from belting out arias in a sonorous enough fashion to make the fattest Italian leading lady blush. The audience consisted of well-to-do academic types and business people. Men came in dapper suits and the women wore silks and fine coral jewelry. It was a far cry from what you might expect from a society that, only a few generations ago, was … [visit site to read more]
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