Jan 20, 2010

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

Forex Trading: Flag Consolidation Breakdown In EUR/USD

Posted: 20 Jan 2010 08:01 PM PST

Price action on EUR/USD, a daily chart of which is shown, has made a marked breakdown of a bearish continuation flag pattern that previously appeared to be on the verge of becoming invalidated. After the false upside tests of last week (which reached up to the key 38.2% Fibonacci retracement level of the initial downtrend run), price dropped substantially to break the flag to the downside, fulfilling the pattern’s customary role as a trend continuation formation.

With the consolidation … [visit site to read more]


Marc Faber’s 2010 Outlook: Go For Gold, Oil & Agriculture, But Watch Out For PIIGS & US Stocks

Posted: 20 Jan 2010 07:45 PM PST

Here is the summary and my thoughts on a trio of Dr. Marc Faber’s latest interview where he discussed his 2010 outlook on China bubble, sovereign default risk, stocks and commodities.

Faber is most famous for advising his clients to get out of the stock market one week before the October 1987 crash.   News just broke that Faber, a famed contrarian investor often known as Dr. Doom, has joined Sprott Inc. SII-T as director and member of the money management firm’s audit … [visit site to read more]

Video: The Day Ahead: Earnings Reports

Posted: 20 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]

Spreading Far And Wide

Posted: 20 Jan 2010 06:03 PM PST

Think back to the “good old days” before the crisis. Wall Street was waxing on about the “Goldilocks economy.” Economists referred to “The Great Moderation.” A few pundits spoke excitedly about “the greatest story never told.” Some even proclaimed it the “Bush Boom.” And all the while, as the Brookings Institution reports in “The Suburbanization of Poverty: Trends in Metropolitan America, 2000 to 2008,” the ranks of the worse-off were spreading far and wide.

An analysis of the location of … [visit site to read more]

MetLife To Buy AIG’s American Life Insurance

Posted: 20 Jan 2010 06:01 PM PST

MetLife is reportedly negotiating to buy the American Life Insurance Co. from its parent American International Group Inc. (AIG). The deal would give MetLife more exposure to Japan and assist AIG in paying back the billions of dollars it owes to the government.

Under the terms now being discussed, MetLife would pay $14 billion to $15 billion for American Life, commonly known as Alico, The New York Times reported. At least $9 billion of that sum would immediately go to the Federal Reserve … [visit site to read more]

Singapore Stock Market Update For Thursday 21 January

Posted: 20 Jan 2010 05:36 PM PST

Morning Highlights
Singapore  market eased in opening trade after US stocks posted a drop on concerns that China's moves to curb lending will slow the global economic recovery.
The STI opened lower at 2888.36, down 4.77 points. A slew of data due to be released on the mainland kept many investors sidelined.
Reference to The Edge, in the short term, the STI has moved into a sideways range and is likely to stay there until stochastic and RSI turn up,  probably sometime in next week. … [visit site to read more]

America Still Wants to Know - Where’s The Money?

Posted: 20 Jan 2010 05:01 PM PST

Where’s the money?

America still wants to know where is the money that has flushed the banking system, but not flowed through to the American economy. That question is the convenient excuse put forth by Martha Coakley, her supporters, the Democratic establishment, and large segments of the media for the Democratic embarrassment in Massachusetts yesterday.

“Where’s the money” is a very fair question. My answer today is the same I offered on December 29th, 2008 when I wrote, “Where’s … [visit site to read more]

Forex Trading: Euro Continues Its 5-Day Freefall Against The US Dollar

Posted: 20 Jan 2010 04:27 PM PST

The U.S. Dollar advanced sharply higher on Wednesday, buoyed by the news that China was reining in bank loans in an attempt to cool off the economy. The Cash Dollar Index finished slightly below the December high at 78.45. Upside momentum is strong enough to take out this price Thursday.
The availability of easy money through government stimulus and favorable loan conditions helped fuel a huge surge in the Chinese economy. The pace of the growth is a concern for central bank officials. On … [visit site to read more]

Another Important Event In Vancouver In 2010…

Posted: 20 Jan 2010 03:00 PM PST

From July 20-23, 2010, investors and industry experts from all over the world will again converge in Vancouver for our annual Agora Financial Investment Symposium.
"What does an AF Investment Symposium look like?" you ask. Well, take a thousand or so free market enthusiasts, give them rooms at a luxury hotel…then mix in a jam-packed program of robust debate and a few crates of whiskey.
This year we expect to hear from a 2010 US congressional candidate – one who actually "gets it" … [visit site to read more]

More On The Public Option. (Produced By Jacob Kornbluth And Raub…

Posted: 20 Jan 2010 02:51 PM PST

More on the public option. (Produced by Jacob Kornbluth and Raub … [visit site to read more]

Stock Picks For 21 January

Posted: 20 Jan 2010 02:27 PM PST

( click to enlarge )
Rambus (RMBS) had a strong day on Wednesday after Samsung Electronics agreed to pay as much as $900 million in five years to Rambus Inc., as part of a deal to settle some high-profile litigation focusing on memory chips. Samsung also agreed to buy $200 million worth of newly issued Rambus stock. I’m watching the stock again on Thursday as resistance stays at the December 28th high of $25.45. If RMBS can break highs, I expect to see strong volume drive the stock much … [visit site to read more]

Equifax Partners 1010data

Posted: 20 Jan 2010 02:19 PM PST

Information solution major Equifax Inc. (EFX) recently announced that the company is expanding its partnership with data provider and analytics company 1010data. This collaboration will help Equifax to provide its individual and household marketing data to retailers via the 1010data analytics platform.
The 1010 data platform will provide retailers with the option to combine their internal transaction data with Equifax's marketing data. This combined application will especially help … [visit site to read more]

Mutual Funds: Top Corporate High Yield Fixed Income Funds

Posted: 20 Jan 2010 02:08 PM PST

Today we are featuring top-performing “Corporate High Yield” fixed income mutual funds, which primarily seek high current income through investment in lower-rated corporate bonds.
Investors can find such Corporate High Yield funds by checking out the entire list of the Zacks #1 Rank Corporate High Yield Fixed Income Funds.
5 Great High Yield Choices
Legg Mason Western Asset Global High-Yield Bond A (SAHYX) was incepted in February 1995. This high yield fund seeks to maximize current income with … [visit site to read more]

Daily ETF Roundup: GDX Sinks, UUP Surges

Posted: 20 Jan 2010 02:03 PM PST

Earnings season shifted into high gear on Wednesday, with BofA and Wells Fargo posting impressive results to lift the banking sector. Starbucks reported that its fiscal first quarter profits nearly quadrupled and raised the full year outlook. But most equity benchmarks posted big losses on the day amidst anxiety about potential interest rate hikes. Elsewhere, Obama indicated that health care overhaul may be scaled back to "core elements" while Warren Buffett expressed his dissatisfaction … [visit site to read more]

Economic Downturn In The Face Of Infallible Markets

Posted: 20 Jan 2010 02:00 PM PST

Does the stock market know something we don't? Yesterday, investors bid up prices on the Dow stocks to a new high. The index rose 115 points.
According to theory, the markets know more than any single investor, analyst or economist. In theory, the markets know everything there is to know. In theory, the markets are always right.
But what the heck? This is the same stock market that signaled clear sailing ahead ten years ago. Soon after, equities hit an iceberg. They sank for the next … [visit site to read more]

Newfield’s OK Acreage Booming

Posted: 20 Jan 2010 02:00 PM PST

Newfield Exploration (NFX) announced a record production at the company's Woodford Shale play in the Arkoma Basin of southeastern Oklahoma. The gross operated production from this play reached 323 million cubic feet equivalent per day (MMcfe/d) or a net level of 184 MMcfe/d.
Newfield is quite optimistic about its Woodford Shale performance and is expecting a 20% hike in production this year from the 2009 level. This is because the company has been completing the drilling of about 20 wells, … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: BAC, IBM, WFC

Posted: 20 Jan 2010 01:59 PM PST

The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]

RMBS Wins $900M From Samsung

Posted: 20 Jan 2010 01:40 PM PST

Chip interface technology and architecture company Rambus Inc. (RMBS) has received an assurance from the largest semiconductor manufacturing company Samsung Electronics that the latter will resolve all claims of Rambus relating to the patent on its chip technology used by Samsung in its semiconductor products.
Under the terms of the agreement, Rambus will get an amount of $900 million over a period of five years. The payment schedule is framed in such a way that Samsung will initially invest … [visit site to read more]

VIX ETFs: Crushed By Contango

Posted: 20 Jan 2010 01:29 PM PST

The pace of innovation in the ETF industry accelerated in 2009, as issuers introduced countless new spins on the exchange-traded structure that provide investors with more options and more flexibility than ever before. Sector-specific emerging markets and China funds, convertible bond ETFs, and state-specific funds were among the exciting new products to hit the market in 2009. But perhaps the most successful new exchange-traded product launch last year was a pair of volatility ETNs from … [visit site to read more]

Teva Outlines Long-Term Goals

Posted: 20 Jan 2010 01:20 PM PST

Teva Pharmaceutical Industries Ltd. (TEVA) recently presented an update on its long-term goals and stated that it is looking to double its revenues by 2015 and achieve net income margins of 22%. Teva expects to achieve revenues of $31 billion and net income of $6.8 billion, or 22% of revenues, by 2015.
The company expects its core business — generics — to drive growth, with support from its branded business. About 70% of total revenues are expected to come from the generics business in … [visit site to read more]

M&T Bank’s Quarterly Report (corrected)

Posted: 20 Jan 2010 11:59 AM PST

(This is the corrected version. In our earlier erroneous report, we had put the company’s core operating earnings, excluding non-recurring items, at below the Zacks Consensus Estimate).
Earlier today, M&T Bank Corporation (MTB) reported earnings of $1.04 per share in the fourth quarter of 2009. Excluding a number of non-recurring items in the quarter, the company’s core operating earnings would be $1.25 per share, exceeding the Zacks Consensus estimate of 89 cents.
Taxable-equivalent net … [visit site to read more]

A Big Lesson From Scott’s Hard Trade

Posted: 20 Jan 2010 05:00 AM PST

By Dr. Steve Sjuggerud

I’ve done well since March 2009… A few of my accounts are up by triple digits in percentage terms.

But my returns are nothing compared to what my friend Scott did in the last two years…

Earlier this week, my wife and I met up with Scott and his wife for drinks. My wife and I made a point to tell Scott how impressive the trade he made was.

Let me tell you Scott’s story…

In 2007, during the heyday of real estate, Scott was a big-shot mortgage broker for a major … [visit site to read more]
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