Jan 21, 2010

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

If The US Dollar Continues Higher, It Could Trigger A Large Sell Off In Gold And Gold Stocks

Posted: 21 Jan 2010 03:45 AM PST

For the past few weeks I have been expecting the market to correct. By looking at the price action on the weekly and daily charts we can see that there has not been any real pullback since November and that is important to note. Without regular market corrections stocks start to become over bought meaning everyone has/is buying them and no real sellers have jumped off the trend. So when the price in an over bought market starts to slide lower we generally see everyone rush to hit their sell … [visit site to read more]


China’s Economic Growth Outlook Continues To Look Strong

Posted: 21 Jan 2010 03:22 AM PST

China today released its 2009 economic data smorgasbord, revealing a continually accelerating economy. This edition looks at 5 charts; economic growth - acceleration, CPI - inflation drivers pushing through, Consumer spending - domestic demand on the rise, Industrial production - still going strong, and International trade - still very important. The analysis shows implications for China’s growth outlook, the evolution of its economic structure, and it’s role in the global economy.

1. … [visit site to read more]

Forex Trading Review 21 January

Posted: 21 Jan 2010 02:56 AM PST

USD Dollar (USD)

The Dollar strengthened versus most majors after the TIC Long-Term Purchases hit estimates and Building permits in the U.S. unexpectedly jumped in December, coming at 0.65M vs. 0.59M forecast and Wholesale prices in the U.S. rose at a slower pace in December, showing the economy is recovering without the immediate threat of inflation. NASDAQ and Dow Jones fell by 1.25% and 1.14% respectively. Crude oil dropped by 1.78%, closing at 77.62$ a barrel and Gold(XAU) fell by 2.43% … [visit site to read more]

What CFTC’s Proposal For Commodity ETFs May Mean

Posted: 21 Jan 2010 02:45 AM PST

The Commodity Futures Trading Commission (CFTC) has been prodding and poking at commodities exchange traded funds (ETFs) for the last year, and the commission has finally made a decision and released a few proposals.

The CFTC cited United States Natural Gas (UNG) and United States Oil (USO) as examples for the new “Proposed Position Limit Rule,” writes Don Dion for TheStreet. The proposal covers four energy commodities: Henry Hub natural gas, light, sweet crude oil prices, New York … [visit site to read more]

American Dream Or Fugue?

Posted: 21 Jan 2010 01:08 AM PST

Recently Barry Ritholz at Big Picture posted a video of George Carlin's comment about the plight of the middle class and the illusion of the American Dream.

American Illusion?
I had posted before about this populist issue in Political stability and the middle class. The problem is that the American Dream of unlimited opportunity is that, a dream. I had also previously highlighted an OECD study showing that the United States has a high level of inequality combined with low … [visit site to read more]

Forex Trading: Eurozone PMI

Posted: 21 Jan 2010 01:05 AM PST

Eurozone PMI services came in better than expected for January, but manufacturing did not meet its expectations; immediately following the data release the EUR retreated against the USD and pushed to a new session low of 1.4059.  The details of the release are as follows:

PMI Services - Survey: 53.8   Actual: 52.3   Prior: 53.6
PMI Manufacturing - Survey: 91.9   Actual: 52.0   Prior: 51.6
PMI Composite - Survey: 54.4   Actual: 53.6  … [visit site to read more]

Video: Amazon Boosts Kindle Royalties

Posted: 21 Jan 2010 01:00 AM PST

Amazon announced a new royalty program for authors and publishers of its Kindle platform. … [visit site to read more]

Positive Momentum In US Stock Market Too Good To Be True

Posted: 21 Jan 2010 12:01 AM PST

The last time I took the “pulse” of the market, measured its internal health, breadth and depth, was December 17, when I wrote “This Damaged Market Is Ready for the ICU”. About a month has lapsed and the S&P has moved marginally higher (3.83%) and 74.7% of stocks are higher Wednesday than they were then and 56.2% of stocks increased more than the S&P 500 Index.

But what do we know about these better than average movers. Again, they were predominately low-priced stocks; of the … [visit site to read more]

4 Reasons To Stick With Emerging Market ETFs

Posted: 20 Jan 2010 11:01 PM PST

Since the calendar switched over to the new year, little has changed in emerging market exchange traded funds (ETFs). In fact, if anything, the picture has gotten a little bit better despite today’s blip.

Productivity Improving. China and India have long been desired locations for American corporations to find cheap labor. That relationship has a new facet: those employees are not only simply cheap, they’re increasingly productive, reports Jon Hilsenrath for The Wall Street Journal.

The … [visit site to read more]

An Inflationary Spiral Ahead For Japan?

Posted: 20 Jan 2010 10:01 PM PST

During the past few years you have most likely read about Japan’s so-called lost decade or its so-called deflationary malaise. And you may have heard warnings that the Japanese experience might be the dire blueprint for what’s to come in the U.S.

Since there are some striking similarities between Japan of the early 1990s and the U.S. today, it’s definitely worth the effort to have a closer look at what is going on in Japan - and what is probably going to happen in the U.S.

First, the … [visit site to read more]

Ben Bernanke And The Taylor Rule

Posted: 20 Jan 2010 09:01 PM PST

A favorite game at my school was “lets you and him fight” whereby A would tell B that C had been talking trash about him and would often tell C the same thing about B. It was hard for B and C to avoid getting sucked in.

I sat beside Gentle Ben Bernanke at the FOMC table until I retired from the Fed in November 2004. He was a gentleman and a scholar. I can’t imagine him deliberately picking a fight with anyone-certainly not John Taylor over the Taylor Rule.

When I hurriedly read his … [visit site to read more]
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