Feb 23, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Technical Outlook Of Emerging Market ETFs And The Japanese Yen

Posted: 23 Feb 2010 03:51 AM PST

During the past two weeks, investors have rallied the stock market following a period of heavy distribution during the preceding two weeks. Judging from trader comments, there seems to be a considerable amount of bullish sentiment, and the sense that we’ll again see new yearly highs very soon. Here is a look at the daily chart for SPY (SPY):

While the market may be on its way to new highs once again, several factors signal caution going into the middle of this week’s trading. … [visit site to read more]

Plans To Hide Commercial Real Estate Losses Won’t Avert A Double-Dip Downturn

Posted: 23 Feb 2010 03:50 AM PST

Sooner or later, mounting losses on commercial real estate could crash through the market’s 2009 optimism and send the economy and stocks into a double-dip downturn.

The major problem is that lawmakers and regulators are setting up investors into believing that commercial real estate (CRE) losses are being effectively addressed. The truth is that escalating losses are being hidden as part of a campaign of optimism in a desperate gamble that a robustly reviving economy will save the … [visit site to read more]

Schlumberger’s Acquisition Of Smith The Latest Evidence Of A Takeover Trend

Posted: 23 Feb 2010 03:32 AM PST

With global energy demand expected to surge over the next decade, straining production, it’s no surprise that many of the sector’s biggest players are racing to acquire competitors whose expertise will help them thrive in a more competitive environment.

And Schlumberger Ltd. (NYSE:SLB) on Sunday became the latest energy giant to bring a competitor into the fold, when the world’s largest oilfield services provider said it would acquire Smith International Inc. (NYSE:SII) in an $11 billion … [visit site to read more]

Volcker Rule Gets Support Of Former US Treasury Secretaries

Posted: 23 Feb 2010 02:30 AM PST

Score major points for former Fed Chair Paul Volcker in his pursuit to restructure Wall Street. How so?

A letter in Monday morning’s Wall Street Journal from five former Treasury Secretaries endorses Volcker’s proposal to limit proprietary trading activities in our largest banks. The letter reads,
We who have served as secretary of the Treasury in both Republican and Democratic administrations write in support of the proposed legislation to prohibit certain proprietary activities of … [visit site to read more]

Why The U.S. Dollar ETF Is Looking Up

Posted: 23 Feb 2010 01:01 AM PST

Some international stock markets are still struggling and foreign currencies are on the decline. It may not sound all that good, but these factors are actually helping the U.S. dollar and its related exchange traded funds (ETFs).

The U.S. economy is expected to do better than other developed economies, and the Fed will be winding down its policy programs sooner than other major economies, which make currency traders lean more toward the dollar, remarks Bryan Rich for Money and … [visit site to read more]

Video: New U.S. Credit Card Rules Go Into Effect

Posted: 23 Feb 2010 01:00 AM PST

U.S. credit card reforms went into effect, with the new rules protecting credit card holders from deceptive industry practices. … [visit site to read more]

Is The Fed Looking At The Right Indicators?

Posted: 23 Feb 2010 12:39 AM PST

On Thursday February 18, 2010 the Federal Reserve raised the discount rate. The press release began soothingly:

The modifications are not expected to lead to tighter financial conditions for households and businesses and do not signal any change in the outlook for the economy or for monetary policy, which remains about as it was at the January meeting of the Federal Open Market Committee (FOMC). At that meeting, the Committee left its target range for the federal funds rate at 0 to 1/4 … [visit site to read more]

Stock Picks For Tuesday 23 February: AIG, DryShips

Posted: 23 Feb 2010 12:16 AM PST

( click to enlarge )

On Monday, the stock broke out from this trading range with huge volumes. I feel this is the beginning of a bigger move, which is why I’m watching AIG (NYSE:AIG) again on Tuesday. Resistance is $29.30, which was Monday’s high of the day. The price can head towards the 31.5-31.70 zone. If this zone is surpassed, getting to 39.5 would be a possibility. Add to your position once there is a close above 29.30. The technical daily chart show a continuation of the … [visit site to read more]

My Options Trading Formula To Make Money In 2010

Posted: 23 Feb 2010 12:01 AM PST

Volatility is coming back to the stock market in 2010.

That’s the good news for traders. Volatility creates dislocations in the market… which creates more opportunities for us. The bad news is, stock prices will most likely keep falling for a while. Here’s why…

The Fed is set to stop propping up the market with massive amounts of new cash in March. So far, the central bank has purchased something around $1.75 trillion worth of securities in the open market over the last year.

What … [visit site to read more]

Five ETFs To Give Your Portfolio Much-Needed Diversification

Posted: 23 Feb 2010 12:00 AM PST

As seasoned investors know, any potential investment must be evaluated not on a stand-alone basis but on its contribution to an overall portfolio. In addition to considering the risk and return profile of a particular asset, the relationship between that asset and the other holdings of the investor is of vital importance in the construction of an efficient portfolio. The addition of assets that maintain low or negative correlations with other portfolio components can add valuable … [visit site to read more]

Forex Trading: EUR Trading Above 200 Hr Moving Average

Posted: 22 Feb 2010 11:47 PM PST

After a 50 pip jump upward and a new session high of 1.3678, the EUR/USD broke through the 200 bar moving average on the hourly chart and is now trading above the 61.8 retracement.  This 61.8 fibo line could possibly be new support for the … [visit site to read more]

Indian Market Ends Lackluster Session Modestly Higher

Posted: 23 Feb 2010 03:12 AM PST

(RTTNews) - The Indian market ended a quiet session higher on Tuesday, helped by positive global cues. However, cautious undertone ahead of Friday’s Union Budget limited the gains. Traders looked ahead to congressional testimony by Fed Chairman Ben Bernanke on Wednesday and Thursday for clues on interest rate hikes.

After initially struggling to move decisively in either direction, the benchmark Sensex rose to a high of 16,325 by mid-session, buoyed by a strong intra-day rebound in Asian … [visit site to read more]

New York Times’ Thomas Friedman: “We Have To Demand The Truth”

Posted: 22 Feb 2010 10:01 PM PST

Without the truth, we are mere slaves to a corrupt system and will never control or master our destiny.

I don’t write this premise whimsically nor do I accept it as a given. The fact is, our forefathers are rolling over in their graves right now given the fatuous culture our society has not only tolerated but promoted. I continually call for the pursuit of truth, transparency and integrity while navigating the economic landscape for the very reason that without these virtues we are … [visit site to read more]

Forex Trading: EUR/CHF Moves Higher

Posted: 22 Feb 2010 09:24 PM PST

The EUR/CHF has had a 50+ pip move higher as speculation of more SNB buying is on the wires. The pair has hit the 4-100hr moving average where it has stalled  its appreciation in February outside the intervention from the SNB on February … [visit site to read more]

Armageddon: Who Will Bail Out America?

Posted: 22 Feb 2010 09:21 PM PST

If you thought Wall Street’s debt crisis was traumatic, wait till you the see the consequences of Washington’s debt crisis!

Never before in history has a world power like the U.S. been so utterly buried in debt! And never before has that debt been financed so massively by foreign investors!

Nineteenth century Mexico, Spain, and Argentina accumulated so much debt, they were forced to default.

In the 20th century, a similar fate befell Germany (1932) … China (1939) … Turkey … [visit site to read more]

Forex Trading: USD Weakening Against The Euro

Posted: 22 Feb 2010 09:19 PM PST

The move against the USD is underway late in the Asian day ahead of European markets opening.  The EUR/USD pair has hit the 200 hr moving average where it was resisted early yesterday to open the trading week, a break here could lead the pair back toward last weeks highs above the 1.37 … [visit site to read more]

U.K. Mortgage Approvals Fall Sharply In January - BBA

Posted: 23 Feb 2010 01:49 AM PST

(RTTNews) - British banks approved 35,083 mortgages for house purchases in January, down from the 45,650 approvals granted in December, data from the British Bankers’ Association showed on Tuesday. Compared with the previous year, this represents an increase of 37.8%.

The number of remortgaging loans fell to 20,252 in January from 23,609 in December, representing a decline of 31.8% compared to the previous year.

The weak lending in January was a reaction to the inflated December market and … [visit site to read more]
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