Jan 26, 2010

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

What Do Gold, Oil And Orange Juice Have In Common? Some Possible Huge Profits

Posted: 26 Jan 2010 07:45 PM PST

“So what do you expect from the commodity markets in 2010?”

If I had a dollar for every time I’ve been asked this question over the past few weeks, I’d be able to buy myself an ounce of gold.

But allow me to tell you the same thing that I’ve told my friends and colleagues: I’m expecting more of the same. Just because it’s a New Year doesn’t mean we should expect commodities to behave much differently than they did in 2009.

In my final Investment U column of 2009, I highlighted the … [visit site to read more]


Video: The Day Ahead: FOMC Rate Decision

Posted: 26 Jan 2010 07:00 PM PST

The stories, data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]

Stock Market Dominoes Beginning To Fall

Posted: 26 Jan 2010 06:01 PM PST

Don’t know how many of you have focused on the fact that the market today is no higher than it was on October 16, the day I first started sounding the alarm about the possibility of a coming correction. In “Begin Pruning, Trimming and Weeding Your Portfolio”, I wrote
“now might actually be a good time to start “pruning” your portfolio. Begin trimming stocks you added during the run up since March-April that haven’t performed that well; if they have grown less than the market has while … [visit site to read more]

US Dollar Moves Higher In Lackluster Action As Forex Traders Await FOMC Announcement

Posted: 26 Jan 2010 05:25 PM PST

The U.S. Dollar managed to hold on to its overnight gains despite a lackluster trading session. Following a couple of overnight events and intra-day economic reports, the Dollar remained range-bound as many large traders stood aside ahead of Wednesday’s Fed FOMC announcement. Traders are looking for the Fed to leave interest rates alone and to continue to leave them low for “a prolonged period of time.”
The Dollar surged overnight, driven by bearish news out of Asia. The Dollar rallied sharply … [visit site to read more]

Big Banks’ New Money Pit

Posted: 26 Jan 2010 05:17 PM PST

If you thought the recent tax juggernaut against Big Banks was huge, how about this?

The IRS is set to claim that “equity swaps” are in effect tax avoidance tactics leading to tax evasion schemes.

The feds are scrutinizing financial derivatives they claim Wall Street banks have been using to avoid collecting scores of billions of dollars in withholding taxes on stock dividends. These equity swaps mimic ordinary shares and give investors such as hedge funds the benefits of stock … [visit site to read more]

With This Options Trading Strategy, You Can Snap Up Global Stocks At Discount Prices

Posted: 26 Jan 2010 04:01 PM PST

Everyone likes getting a bargain, especially on high-quality products. But when it comes to the stock market, that search for bargains can be a long one. That’s especially true right now - after the rally that started in mid-March has propelled so many stocks to new yearly highs.

But here’s what most investors don’t realize: While it may be hard to find truly undervalued stocks, there is a way to buy perfectly valued shares at a substantial discount to their market price.

At times, that … [visit site to read more]

The Watched Pot

Posted: 26 Jan 2010 03:01 PM PST

Doubt that growth of the new creditor economies is the real driver for the metals market is waning ever more rapidly. Not everyone will view that as a good thing, but most will now look to China for the moment and to the other big areas of expansion in due course for cues on which direction the sector will take. That, and recognition of very real supply constraints, has been the HRA stance for most of this century. So it’s time for us to do the worrying.

Last month we told Dispatch readers … [visit site to read more]

With A Recovery Like This, Who Needs Enemies?

Posted: 26 Jan 2010 03:00 PM PST

What a recovery! If the economy keeps recovering like this we'll soon all be busted…
House sales are falling…unemployment is rising…and people are getting poorer!
The Dow rallied a piddly 23 points yesterday. Oil is selling for less than $75 this morning. Stocks are in trouble. As we said yesterday, this could be the beginning of the end for this bear market. We've seen the first leg down. We've seen the rally. We're ready for the next big plunge.
Yesterday, the latest numbers on … [visit site to read more]

Yahoo Tops Expectations

Posted: 26 Jan 2010 02:58 PM PST

Yahoo! Inc. (YHOO) announced fourth-quarter and full-year results after the closing bell. Fourth-quarter earnings per share of 15 cents came in above the Zacks Consensus Estimate of 11 cents. The 15-cent earnings result does not account for a 4-cent charge that is related to the Microsoft search agreement and other charges.
Revenues of $1.73 billion slipped 4% on a year-over-year basis but topped the third-quarter total by 10%.
Management said the fourth quarter marked a strong finish to … [visit site to read more]

Daily ETF Roundup: UNG Sinks, UUP Inches Higher

Posted: 26 Jan 2010 02:45 PM PST

American markets finished flat after European exchanges gained slightly and Asian equities fell sharply on news that China may seek to curb lending and tighten monetary policy. U.S. stocks were approaching a triple digit gain in early afternoon trading before barely sliding into negative territory to finish the day, marking the 5th drop in the past seven days.
The ETFdb 60 Index lost 5.38 points, or 0.5%, to close at 1,016.81, its lowest level of the year. Losers outnumbered winners by more … [visit site to read more]

More Checks For Biogen’s Tysabri

Posted: 26 Jan 2010 02:26 PM PST

Last week, the European Medicines Agency (EMEA) finalized a review of Biogen Idec's (BIIB) Tysabri (natalizumab) and the risk of progressive multifocal leukoencephalopathy (PML) associated with the prolonged use of the drug. PML is a rare brain infection caused by the JC virus.
The agency's Committee for Medicinal Products for Human Use (CHMP) arrived at the conclusion that the risk of a patient developing PML increases after having taken the drug for two years or more, though the risk … [visit site to read more]

Video: IPhone To Be Available On All Carriers?

Posted: 26 Jan 2010 02:14 PM PST

According to analysts at Oppenheimer & Company, Apple Incorporated may release the iPhone to all US wireless carriers in the next 18 months. … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: BZH, TRV, VZ

Posted: 26 Jan 2010 02:13 PM PST

The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]

Video: Oil Prices Slide On Dollar Drop & Chinese Banking Concerns

Posted: 26 Jan 2010 02:11 PM PST

Front month crude prices slipped this session after the US dollar dropped and concerns continued to mount over possible Chinese banking limits. … [visit site to read more]

Initiating Wynn Resorts As Neutral

Posted: 26 Jan 2010 02:08 PM PST

We are initiating coverage on Wynn Resorts Ltd. (WYNN) with a Neutral recommendation. The company, along with its subsidiaries, is a leading developer, owner and operator of destination casino resorts with casino hotel resort properties in Las Vegas and Macau.
Wynn Resorts' third quarter earnings of 33 cents per share were well ahead of the Zacks Consensus Estimate of 14 cents, primarily driven by a better-than-expected growth in the top line and improvements in the bottom line. 
Wynn … [visit site to read more]

Cartoon: A Man’s Home Is His Castle

Posted: 26 Jan 2010 02:01 PM PST

Source: Jeff Parker, Comics.com, January 14, … [visit site to read more]

The Return Of Market Volatility

Posted: 26 Jan 2010 02:00 PM PST

I believe we're still at a reasonable level of volatility. If anything, last week's correction was long due. The 5% S&P sell-off was the worst since March 2009. Put in perspective, though, 15-month S&P highs were made Monday, Jan. 19 – a mere five trading days ago.
Last week has definitely gotten our attention, but remember, we have seen this action repeatedly before. For the last 10 months, every time the market looks like it will turn down, it has responded with a rally to new … [visit site to read more]

Mother Of All Linkfests On The Outlook For The Period Ahead

Posted: 26 Jan 2010 01:56 PM PST

For the past month, Charles Kirk, a full-time investor and publisher of The Kirk Report (a favorite of mine since my first book, The New Laws of the Stock Market Jungle, was published nearly six years ago) has been collecting posts regarding “what others think are themes that we’re likely to see play out in the year ahead.”
While Charles admits that most of these will probably miss the mark (”they always do,” he adds), I agee with him that you may find it of interest to see what others think … [visit site to read more]

AXA To Axe Self From NYSE

Posted: 26 Jan 2010 01:49 PM PST

French insurance company AXA (AXA) is planning to delist its American Depository Shares that are currently trading at the New York Stock Exchange (NYSE). Once it delists itself from the NYSE, it intends to deregister from the U.S. Securities and Exchange Commission (SEC). The company is planning such a move as the volume of trades on NYSE is too low. The shares of AXA have been trading on the NYSE for the past 14 years.
AXA expects the delisting to become effective by the first quarter of … [visit site to read more]

Swedish Bank Fee Starting To Look Good To US Treasury

Posted: 26 Jan 2010 01:40 PM PST

Snowy Sweden had its own banking crisis in the 1990s, but due to extensive bailouts emerged relatively unscathed… well, aside from rampant nationalizations and socialistic tendencies. Sound familiar?
Now, another hot idea from that same ice kingdom is catching on in the US. In 2009, in order to "protect" lenders, Sweden put a stability fee, charged to banks, into law. The idea is sock away a fund capable of financing future bank bailouts should the need arise.
It's not entirely clear … [visit site to read more]

Nucor Moves From Loss To Gain

Posted: 26 Jan 2010 01:32 PM PST

Nucor Corporation (NUE) has revealed a profit of $58.9 million or 18 cents per share in the fourth quarter of 2009, compared to the Zacks Consensus Estimate of 9 cents per share. This was an improvement over losses of 60 cents, 43 cents and 10 cents per share in the first, second and third quarters of 2009, respectively.
However, the net income is lower than $105.9 million or 34 cents per share for the fourth quarter of 2008 due to reduced earnings in the company's downstream, long products … [visit site to read more]

New Rap Video: Keynes And Hayek On The Boom Bust Cycle

Posted: 26 Jan 2010 01:00 PM PST

If you can believe it, the modern incarnations of John Maynard Keynes and Friedrich A. Hayek defend their economic perspectives in a battle rap (of sorts). Here's a highlight from Hayek:
"If you're living high on that cheap credit hog
Don't look for cure from the hair of the dog
Real savings come first if you want to invest
The market coordinates time with interest
"Your focus on spending is pushing on thread
In the long run, my friend, it's your theory that's dead
So sorry there, … [visit site to read more]

Singapore Stock Market: Our Focus For Today Is On Property & Financial Sector – Short Selling

Posted: 25 Jan 2010 05:28 PM PST

Morning Highlights
Singapore market started little changed, with STI up 2.76 points at 2808.95, following the lead from Wall Street which all the major averages ended in positive territory after a choppy session.

Weakness in Hong Leong Asia (New Trade Opportunity, To Short at 3.72,  Stop Loss at 3.86)

Market plunged further after 11:15, currently is off 50 points. 2800 has turned into a short term resistance.
Singapore CPI dipped 0.5% in December over November, mainly due to lower costs … [visit site to read more]
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