Mar 29, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Gold Is Now In A Very Tricky Advance

Posted: 29 Mar 2010 03:31 AM PDT

Stocks:

I’m going to start off with a few breadth charts.

The NYSE new highs - new lows chart is now on a sell signal as both the slow and fast average have rolled over and are accelerating downward.

Everything continues to point to an impending correction. The change in character the last two days is also suggestive that something is different. Instead of opening lower and rising through the day, the market has been gapping up but closing lower. This is a complete … [visit site to read more]


Forex Trading: Eurozone Consumer Confidence

Posted: 29 Mar 2010 02:10 AM PDT

Eurozone Consumer Confidence came in as expected at -17, also mirroring its prior reading.
Eur/Usd currently trades at … [visit site to read more]

Health Care Stocks In Focus: No One’s Talking About These Government-Enforced Monopoly Profits

Posted: 29 Mar 2010 02:01 AM PDT

All anyone’s talking about these days is the new health care reform…

As you’ve no doubt read already, the 32 million new customers the government’s bringing into the fold will translate to higher revenue and profits for insurers, drugmakers, hospitals, and device makers.

You’d likely do well buying a broad health care fund like IYH or XLV. They’ve climbed already, and I see another 20%-30% rise over the next 12 months as more investors come to the same conclusion. But that’s not … [visit site to read more]

Three Defensive Plays For The Next Stock Market Sell-off

Posted: 29 Mar 2010 01:01 AM PDT

Since Bryan is on vacation this week, Martin asked me to pinch-hit as a guest editor today. And it couldn’t come at a better time, because at present, the Weiss Capital Management investment team is on high alert for a potential market sell-off.

We’ve had a nearly uninterrupted market rally over the past 12 months, but now we believe it’s time to play good defense … and take steps to help protect your gains. Let me explain why …

Naturally, the bulls are quick to point out the 70 … [visit site to read more]

Video: Time Warner Offers Free Wi-Fi In NYC

Posted: 29 Mar 2010 01:00 AM PDT

Time Warner Cable started offering free Wi-Fi services to its Road Runner subscribers in the NYC area. … [visit site to read more]

Life In Extremistan, Or Minskyville

Posted: 29 Mar 2010 12:13 AM PDT

I got some interesting feedback about my recent post when is diversification important. To paraphrase, some of the reasoned responses said that my approach of focusing on the event extremes is highly dependent on the likelihood of extreme events, or the fatness of return distributions. Already, there are warnings from the likes of BCA Research and Greg Mankiw, who was the head of George W. Bush’s Council of Economic Advisors, to prepare for the next financial crisis:

A few years ago, some … [visit site to read more]

U.S. Mortgage Modifications Will Not Solve The Housing Problem

Posted: 29 Mar 2010 12:01 AM PDT

The White House has announced new plans for mortgage modifications.  Good summary at Calculated Risk, with a follow-up.

Helping under-water homeowners will not solve the national housing problem.  When thinking about how the residential construction industry will affect the economic forecast, simply ignore this program.  The fundamental problem is not about mortgages, but about the total number of housing units relative to our population.  Here’s the housing vacancy rate chart … [visit site to read more]

Las Vegas February Home Sales Highest In Four Years

Posted: 28 Mar 2010 11:07 PM PDT

From DQNews — Las Vegas region February home sales fell just shy of their 16-year average but were still the highest for that month in four years as investors and first-time buyers continued to dominate the market. Other highlights include:

1. Foreclosure resales - homes that had been foreclosed on in the prior 12 months - fell to 59.6% of all resales in February, down from 62% in January and down from 70.6% a year ago.

2. A total of 3,698 new and resale houses and condos … [visit site to read more]

Three ETFs To Watch This Week: EWY, PALL, VXX

Posted: 28 Mar 2010 11:00 PM PDT

With the end of the first quarter coming to a close, many equity markets continued their slow but steady climb higher last week, with some even touching new 18 month highs. The week ahead will bring a slew of data releases and earnings reports that should test the strength of the current rally. Below, we profile three ETFs in particular that could see an active week:
iShares MSCI South Korea Index Fund (EWY)
Why EWY Could Be On The Move: After an explosion caused a South Korean naval ship to … [visit site to read more]

Is Israel Still An Ally Of The U.S.?

Posted: 28 Mar 2010 10:21 PM PDT

George Friedman of Stratfor Global Intelligence suggests that Israel’s unwillingness to act on settlements could lead to a serious breach in the US-Israeli relationship, with the US questioning the value of Israel as an … [visit site to read more]

Political Disruptions Around The World Will Push Gold Prices Up

Posted: 28 Mar 2010 09:01 PM PDT

“One of my favorite areas to invest in to protect my profits and reduce my portfolio risk is an ETF that invests in gold. SPDR Gold Shares ETF (GLD) has advanced 150% during the past five years compared to an advance of just 1% for the Standard & Poor’s 500 Index. And during the ugly bear market from October 9, 2007, until March 9, 2009, GLD was up 23.9% compared to the -56.8% drubbing that the S&P 500 took,” Roy Ward Reports From The Iconoclast Investor.

Ward goes on to say, … [visit site to read more]

Rapid Descent Of The US Dollar Index And Rise In Gold Prices?

Posted: 28 Mar 2010 08:07 PM PDT

Between a rock and a hard place. Social unrest in the form of mass protests and riots are likely this year say the credit agencies, not just in lesser credits like Greece, but in AAA-rated states like the US, the UK, Germany, France, and Spain. Powerful as they may be, the central banks of these nations are attempting to reverse the quantitative easing programs underlying the massive economic stimulus related government spending programs of the past two years. That’s the rock; the hard place is … [visit site to read more]

The Yuan, The US Dollar: Repeating The Policy Mistakes Of The Great Depression

Posted: 28 Mar 2010 08:01 PM PDT

In several recent speeches, I’ve mentioned that our policy makers seem intent on repeating the policy mistakes of the depression.

I mention the clamor for the Fed to withdraw or mop up excess reserves even though bankers feel the need to hold them without significant incentive. Doing that very thing during the depression caused bank retrenchment and a worsening of the economy.

I mention tax increases during the depression, which also had a very negative impact on the economy. The … [visit site to read more]

Economic/Market Week In Review For Week Ended 28 March

Posted: 28 Mar 2010 07:54 PM PDT

The hits just keep on coming. The news on Wall Street, Washington, and literally all around the world is an absolute onslaught. This avalanche of news (healthcare reform, Greece and the EU, China and currency manipulation, South Korean naval ship sinks with speculation of possible North Korea involvement, Israeli tensions with Palestine and Washington, Treasury debt supply pressuring interest rates, and on and on) can overwhelm us if we allow it. Global political and economic risks … [visit site to read more]

Invest In Apple’s New iPad Launch With These Technology ETFs

Posted: 28 Mar 2010 07:01 PM PDT

“As we approach the end of Apple’s (NASDAQ:AAPL) March quarter, we believe it is now clear the company is running well ahead of our previous expectations and consensus, and we are raising estimates as a result. While upside is often the norm for Apple, we are still surprised by the current strength, as we believe Apple is now running well ahead of expectations in all of its key business segments during what is typically a seasonally “sloppy” quarter,” Bill Shope Reports from Barrons.

Shope … [visit site to read more]

Forex Trading: USD/CHF Breaks 38.2% Retracement

Posted: 28 Mar 2010 06:58 PM PDT

USD/CHF opened the session at 1.0587, almost 80 pips lower than its close on friday but closed that gap as the session high thus far has been 1.0680. The hourly chart shows the pair breaking through the 100 bar MAVG and the 38.2% line which comes in at 1.0679. This level was also tested on friday as resistance and twice last week as … [visit site to read more]

Hot Stock Pick For 29 March: Tenet Healthcare

Posted: 28 Mar 2010 06:01 PM PDT

Tenet Healthcare Corp (NYSE:THC)

Biotech, health care provider and hospital sector stocks have been bullish last week  in the wake of the House of Representatives’ approval of the health care bill.

Many of those stocks have been stuck in narrow trading ranges over the last year amid questions about the breadth of any bill and whether or not Congress would approve it. But the removal of that uncertainty seemed to help lift the stocks beyond those ranges.

THC gaped up on high volume … [visit site to read more]

How To Find Market Tops For Gold & Dow

Posted: 28 Mar 2010 05:43 PM PDT

March 28th 2010
Last week the general market continued to grind its way higher for yet another week. Overall I feel the market is very much over bought. We all know the market can stay in extreme overbought levels for extended periods of time making it very difficult to pick tops.
This is the reason I do not try to pick tops, but rather wait for a top to form before putting my money to work. While a bottom can be made in 1 day, tops tend to take days and some times months to complete.
.
A few … [visit site to read more]
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