Mar 10, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Zinc - Make Sure You Don’t Own This Commodity

Posted: 10 Mar 2010 03:50 AM PST

As I’ve been writing to you about the coming fall in the price of copper, I’ve been researching the entire base-metals complex.

“Base metals” is the term used for the workhorses of the metals complex. They aren’t flashy, like gold or silver. In addition to copper, we’re talking zinc, tin, and nickel. These metals are used in steel production and various manufacturing applications.

I think they’re all going to fall in price soon…

I’ve spent the last two essays telling you that … [visit site to read more]


Forex Trading: USD/CHF On Verge Of Potentially Breaking Resistance

Posted: 10 Mar 2010 03:15 AM PST

Price action on USD/CHF, a daily chart of which is shown, has consolidated in a tight, slightly bearish consolidation right underneath a key long-term downtrend resistance line extending from the 2008/09/10 high hit in November 2008.

Since recently hitting this trendline in mid-February, price has bumped up against it several more times without breaking the dynamic resistance imposed by the line. Currently, since the lows around parity (1.0000) in early December, this pair has been … [visit site to read more]

Wall Street Journal Book Review Slams Harry Markopolos. Why?

Posted: 10 Mar 2010 02:46 AM PST

People in glass houses should not throw stones.

That simple piece of wisdom is both timeless and precious. Regrettably, too many in our media fail to uphold it. Where do I see evidence of it today?

The Wall Street Journal today runs a book review of Harry Markopolos’ recently released No One Would Listen. The reviewer is Richard J. Tofel of ProPublica, a nonprofit investigative-journalism newsroom. Tofel does not denigrate Harry’s work, but he emasculates Harry from a personal … [visit site to read more]

Interview With Small Value Cap Guru Paul Sonkin

Posted: 10 Mar 2010 01:01 AM PST

Paul Sonkin

Paul D. Sonkin is the Portfolio Manager of The Hummingbird Value Fund and the Tarsier Nanocap Value Fund. Paul is currently an adjunct professor at Columbia University Graduate School of Business, where he teaches courses on security analysis and value investing. He is a member of the board of several public companies including Meade Instruments Corp. He was previously a senior analyst at First Manhattan & Co., a firm that specializes in mid and large cap value … [visit site to read more]

Five Bond ETFs For Yield-Hungry Investors

Posted: 10 Mar 2010 01:00 AM PST

To many investors, last  month's data release showing that core CPI declined in January for the first time in nearly 30 years was a welcome bit of news. The fact that inflation has yet to rear its head might extend the already prolonged period of low interest rates a bit further, as the Fed looks to give a still fragile recovery all the support possible. Interest rates in the U.S. and many other developed economies have been near zero for some time now, they are often seen as one of the … [visit site to read more]

Video: U.S. Gas Prices May Surpass $3/gallon

Posted: 10 Mar 2010 01:00 AM PST

The national average price for gasoline prices could hit $3 per gallon during the spring. The EIA expects a spike in prices above $3/gln. … [visit site to read more]

Forex Trading: Usd/Chf Firmly Above 200 Hour M/A

Posted: 09 Mar 2010 11:41 PM PST

The USD has been bid thus far in early European trade. German trade balance and current account had less of a surplus than expected which may have precipitated USD strength.
Usd/Chf is trading just off session highs at 1.0773, firmly above its 200 hour M/A of 1.0750. The pair seems to be gaining momentum and a breach of 1.0800 is … [visit site to read more]

What Makes PTE More “Dynamic” Than The Other Telecom ETFs?

Posted: 09 Mar 2010 11:30 PM PST

This year has not been kind to telecommunication ETFs, as increased competition for existing users has begun to weigh heavily on the sector. In addition, growth opportunities, which long have been a hallmark of the telecom industry, appear to be drying up. According to a new report, two-thirds of all people on earth now use a cell phone, and prices have dropped more than 15% since 2008.
While a decline in costs is good news for consumers, funds in the communications ETFdb Category have felt the … [visit site to read more]

The Soverign Debt Crisis: Is UK Next?

Posted: 09 Mar 2010 11:01 PM PST

The consensus view is that the Spanish will be the next target if they are unable to get their fiscal house in order. While we will not dispute the fragile state of Queen Sofia’s monarchy we believe the bigger problem is the UK. Queen Elizabeth has a rapidly rising debt load while revenues are declining.

We were surprised and concerned how rapidly the markets moved from Greece to the UK - bi-passing Spain. The action in the British Pound has been nothing short or astounding. Now it appears … [visit site to read more]

How Active ETFs Trump Active Mutual Funds

Posted: 09 Mar 2010 10:01 PM PST

The global mutual fund industry stands at around $26 trillion while the mutual fund space in the United States is around $12 trillion, just a couple of trillion smaller than the entire GDP of the US. Of this massive industry, 85-90% of all mutual funds are actively-managed. Active mutual funds faced their first stern challenge when indexing started gaining ground and investors started putting money into passive strategies through index ETFs and index mutual funds. However, that challenge … [visit site to read more]

Dubai World May Ask Banks To Take 20% “Haircut”, Delay Payments To Solve Its Debt Crisis

Posted: 09 Mar 2010 09:01 PM PST

Dubai World may ask banks to take a so-called 20% “haircut” from the face values on their loans and stretch out loan maturities when it presents a restructuring plan this month.

The banks may be able to avoid the haircut if they allow the state-owned investment firm to stretch payments for as long as 10 years in return for a repayment guarantee from Dubai’s government, JPMorgan Chase & Co (NYSE:JPM) said in a research report obtained by Bloomberg News.

The troubled conglomerate has … [visit site to read more]

Forex Trading: US Dollar Finishes Higher Despite Stock Market Rally

Posted: 09 Mar 2010 08:10 PM PST

The U.S. Dollar finished higher on Tuesday against most major currencies in another round of light trading. Traders opened the New York session averse to risk, but shifted this sentiment a few times during the day session. The Dollar bent at times, but never broke.
Firmer U.S. equity markets triggered renewed demand for risk at the mid-session. This helped to weaken the Dollar while fueling a rally in the higher yielding Australian Dollar and New Zealand Dollar.
The Euro was down early as … [visit site to read more]

Beware: SIPC Impostor Targeting Madoff Investors

Posted: 09 Mar 2010 08:04 PM PST

There is never a lack of scumbags in the world who prey upon those in distress.

As if those crippled by the Madoff scam have not already gone through hell and back, today we learn that an impostor to the Securities Investor Protection Corporation (SIPC) has sprouted up targeting the investors victimized by the Madoff scam. The Wall Street Journal exposes this scum in writing, Copy-Cat Web Site Targeting Madoff Victims:
The Securities Investor Protection Corp., a securities industry … [visit site to read more]

Video: The Day Ahead: U.S. Wholesale Trade

Posted: 09 Mar 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 Picks For Wednesday 10 March: Palm, Applied Materials, Xenoport

Posted: 09 Mar 2010 06:50 PM PST

( click to enlarge )

Xenoport (NASDAQ:XNPT) appears to have run out of sellers at current levels. A close above $8.56 would confirm the positive outlook and could push the stock to the target zone of $9.15. KD shows possible rally as K line is on top over D line. I’m looking for a good trade if the prices close above $8.56.

( click to enlarge )

Palm (NASDAQ:PALM) - On ealier posts I warned of the bullish divergence forming on the daily chart that still remains valid. Daily divergence on … [visit site to read more]
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