Feb 19, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Another Big Disconnect

Posted: 19 Feb 2010 03:07 AM PST

In “Not Entirely Stuck in the 70’s,” W.C. Varones highlights a disturbing graphic from the Wall Street Journal that illustrates another big disconnect: the divergence between what ordinary Americans are taking in and what Washington is throwing around:

I hope you love your government 3.5 times as much as you did in 1970, because that’s how much more they are spending, even adjusted for … [visit site to read more]

Forex Trading Review For 19/02/2010

Posted: 19 Feb 2010 02:11 AM PST

USD Dollar (USD)

The Dollar continue to gain versus most majors, continuing its last days rally, but skyrocketed completely after the FED raised discount rate charged to banks by 0.5% to 0.75% in order to will encourage financial institutions to rely more on money markets rather than the central bank for short-term liquidity needs. Philadelphia FED Manufacturing Index rose to 17.6 in February from 15.2, PPI rose more than the 0.8% forecast, to 1.4% but the Unemployment Claims rose to 473K. … [visit site to read more]

Stock Picks For Friday: Level 3 Communications

Posted: 19 Feb 2010 01:12 AM PST

( click to enlarge )

Level 3 Communications (NASDAQ:LVLT) broke out of a descending channel with huge volume and a solid 10% single day rally. The stock closed at $1.45, which was the high for Thursday. I think this could be the spark of a new bull trend in the making. I’m watching for a follow through move on Friday. The technical daily chart shows the stock is in a rally as K line is rising on top of D line as the price is back above 50 day moving average. Moreover MACD shows the stock … [visit site to read more]

AdvisorShares Forms Partnership With Peritus

Posted: 19 Feb 2010 01:09 AM PST

In more evidence of expansion in the Actively-Managed ETF space, on Feb 18, 2010, AdvisorShares announced a partnership with Peritus Asset Management LLC - a Santa Barbara based asset manager with approximately $492 million in assets under management that focuses on active fixed-income management. Peritus utilizes a value-based strategy that will be used to create a new Active ETF with AdvisorShares focusing on high-yield bonds. In what could be a sign of future possibilities with … [visit site to read more]

Video: Microsoft And Yahoo! Deal Approved By Regulators

Posted: 19 Feb 2010 01:00 AM PST

The US Department of Justice and European Commission approved the search engine deal between Microsoft Corp. and Yahoo Inc.. … [visit site to read more]

Bearish Tripwires

Posted: 19 Feb 2010 12:34 AM PST

S&P 500 500 futures are down around 1% as I write this in the wake of the Fed’s surprise discount rate hike.

Despite the negative news, it’s important to take deep breath, step back and analyze the market with some perspective. In the framework outlined in my post bulls are losing control, here are some impotant relative performance charts that I am watching as signs that the bears may have taken control of the market.

Cyclicals are still holding up
The chart below shows the relative … [visit site to read more]

Libya Courts Oil & Gas Investors But Faces A Tough Sell Following Recent Government Fiascos

Posted: 19 Feb 2010 12:01 AM PST

The Libyan government has been sounding off lately about boosting the profile of its oil and gas market, but it’s questionable whether international companies will ignore the government’s missteps in the industry - not to mention the recent lackluster energy finds - and keep injecting money into the North African country.

The head of Libya’s National Oil Corp., Shokri Ghanem, has his eye on expanding gas exploration and production in a bid to raise exports to Europe, as well as … [visit site to read more]

Market Vectors Launches New Egypt ETF

Posted: 18 Feb 2010 10:01 PM PST

The international financial crisis slowed Egypt’s growth, but the country’s economy is beginning to pick up its pace. Now Egypt has its very own exchange traded fund (ETF) so you can play along at home.

Market Vectors, already a first mover with several of their single-country funds, has done it again by launching a new ETF today aimed at the Egyptian economy, the Market Vectors Egypt Index (EGPT). The largest sector allocation in the fund is financials, with a 42.4% weighting, followed by … [visit site to read more]

ARS UPDATE: Former UBS Sales Manager David Shulman Gets Off Easy

Posted: 18 Feb 2010 09:01 PM PST

Are cracks developing in the Wall Street facade covering the fraud which encompassed the auction-rate securities market? While thousands of investors with upwards of $150 billion remain frozen in their auction-rate securities holdings, a hint of progress seems to be developing on the legal front addressing this sector. How so?

David Shulman, former sales manager at UBS, just settled an outstanding claim that he effectively front ran the ARS market in December 2007. This claim was … [visit site to read more]

Comparing The Dow To The Price Of Gold

Posted: 18 Feb 2010 08:01 PM PST

Back in December of 2008, I wrote about the Dow Jones Industrial Average price relative to the price of Gold.  It was one of my first forays into the world of  intermarket analysis.  I updated it about a year ago.    Just the other day I wrote about the S&P 500 compared to the US Dollar index.  I believe there is much to be learned by studying the interactions between different markets.  It is one of the reasons I consider myself a student of all markets - not just the stock … [visit site to read more]

Should There Be Standardized Reporting Of Well Results?

Posted: 18 Feb 2010 07:01 PM PST

Should there be a legal or industry accepted standard for reporting IP (Initial Production) rates on oil & gas wells? For both the industry and investors, it creates a quandary - do you want quick reporting of oil well flow rates, or do you want accurate and fair reporting?

Energy producers are often quick to produce press releases with eye-popping Initial Production rates - but with little or no context.  Was it a 12 hour test, 3 day test or 30 day test? Was it the average flow rate … [visit site to read more]

Video: The Day Ahead: U.S. CPI

Posted: 18 Feb 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]

Can Gold Maintain Its Shine Despite An 11% Drop In Demand?

Posted: 18 Feb 2010 05:50 PM PST

A new report from the World Gold Council says investor demand will remain strong in 2010, even though actual demand for the metal dropped 11 percent last year. George Milling-Stanley, from the World Gold Council, discusses the future of gold with Bob Pisani on CNBC. See the video below:

We have listed some options for investing in gold through ETFs below:

LONG:

The investment (GLD) seeks to replicate the performance, net of expenses, of the price of gold bullion. The trust … [visit site to read more]

Worse Than The US Budget: The Shadow Financial Industrial Governmental Complex

Posted: 18 Feb 2010 05:19 PM PST

This was a surprising concept to come across in the Wall Street Journal… the "shadow government, the financial industrial complex." Yet, what sounds at first like conspiracy theorizing is actually a sound criticism of the fact that the US government has basically ignored the lessons of the financial crisis and is more or less gearing up for a round two.
Despite entering into the first downturn so recently, and currently watching the Greek meltdown unfold, the US economy is still a mess. … [visit site to read more]

Singapore Stock Market Update For Thursday 18 February

Posted: 17 Feb 2010 05:36 PM PST

Morning Highlights
There Are No Quick Picks For Today…
Singapore Stocks slumped modestly in early trades, with the STI down 0.61% to 2777.10 within first 25 minutes
Corporate Announcements

Yanlord and Ho Bee, through a 60:40 equity ownership respectively, jointly acquired a 13.69 hectares residential development site in Qingpu area, Shanghai for RMB3.82 billion. The site can generate 246,487 sqm of residential GFA.

Sembcorp Marine's subsidiary Sembawang Shipyard has secured major … [visit site to read more]
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