Mar 13, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

The Mid-Term Outlook For The Gold And Stock Market

Posted: 13 Mar 2010 03:45 AM PST

Friday the S&P500 made a new all-time high for the move off March ‘09.  The way this correction has played out is very similar to the one that occurred in July 2009, and we are seeing some similar upside potential now that could very well take the markets 15 - 20% higher than they are right now.

As such we have closed off our small term shorts with a break-even on the Dow trade, and are going to be looking for some short-term long trades with tight stops.

I’m not going to be … [visit site to read more]


Forex Trading: USD/CAD Potentially Targeting Parity

Posted: 13 Mar 2010 01:21 AM PST

Bearish price action on USD/CAD, a daily chart of which is shown, has finally made a tentative breakdown below the key 1.0200 support level after respecting this level several times this week. Friday’s (3/12/2010) breakdown of 1.0200 establishes a new 19-month low for this pair.

The current bearishness puts USD/CAD on a potential path towards parity (1.0000), a level not reached since July 2008. The current bearish breakdown also lends confirmation to a potential continuation of the overall … [visit site to read more]

Fracking Fluids Part II - MacGyver Reveals His Secret Fracking Fluid Recipe

Posted: 13 Mar 2010 01:01 AM PST

My original story on Fracking Fluids generated more direct email and comments than any other article I’ve written - this issue clearly strikes a nerve with a lot of people.

And the issue is: How do we know if fracking fluids - the use of which has skyrocketed in the last few years around North America with all the new shale oil and gas plays - are contaminating drinking water?

I see two parts to this issue - full disclosure of fluid ingredients, and how these fluids could migrate up … [visit site to read more]

Contango And Commodity ETFs: What It Is And What You Can Do About It

Posted: 12 Mar 2010 11:01 PM PST

Investors love commodity exchange traded funds (ETFs), and with good reason. Aside from the usual benefits that ETFs offer, commodity funds deliver the kind of exposure to commodities that would otherwise be very challenging, very expensive or both. But not all commodity funds are created equal, and one of the most important types to understand are those that hold futures contracts.

One of the most popular commodity ETF types are those that hold and trade futures contracts for the underlying … [visit site to read more]

Video: The Week Ahead

Posted: 12 Mar 2010 09:00 PM PST

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

Lehman Executives Bear Ultimate Responsibility For Its Collapse

Posted: 12 Mar 2010 08:44 PM PST

The U.S. bankruptcy-court examiner investigating the collapse of Lehman Brothers Holdings Inc. issued a stinging report Friday that accused senior executives of freewheeling accounting practices that led to the largest bankruptcy in U.S. history and sparked the worst financial crisis since the Great Depression.

The 2200-page report, authored by Anton Valukas, chairman of the Chicago-based law firm Jenner & Block LLP, also excoriated Wall Street investment banks, including JPMorgan Chase … [visit site to read more]

US Retail Sales Climbed In February

Posted: 12 Mar 2010 08:21 PM PST

US Retail Sales surprised in February, beating concerns about the affects of the cold snap and icy weather and a poor labour market; coming in above consensus. In February 2010 retail sales climbed 0.3% month on month to US$355,546 million, against consensus estimates for a fall of -0.2% and January’s growth rate of 0.5%.

Core retail sales (less autos) also beat consensus with 0.8% against an expected 0.0%. Headline and core retail sales were up 3.5% and 3.7% respectively. The winning … [visit site to read more]

U.S., U.K. Say EU Proposals Will Hurt Hedge Fund Industry

Posted: 12 Mar 2010 07:37 PM PST

The European Union (EU) on Thursday defended its sweeping hedge-fund reform proposals against criticism from the United States and Britain.

British Prime Minister Gordon Brown met with French President Nicolas Sarkozy Friday in hopes of compromising on the proposed regulation.

Many EU countries are determined to change the hedge fund industry, which is often murky. The use of derivatives, such as credit-default swaps have been linked to the downfall of Lehman Bros. and exacerbating … [visit site to read more]
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