Daily Markets - Financial News & Opinions

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• Stock Picks For Monday 18 January
• Video: The Week Ahead
• Fan Of Transparency? SEC’s Mary Schapiro Refuses To Address Her Past And That Of FINRA
• The War On Banks - Getting Curiouser And Curiouser
• Bad Odds
• Forex Trading: USD/CAD Near Key Support
• UK, Germany, France At Greater Default Risk Than Top Companies
• Why The 1,150 Level Is A Key Barrier For The S&P 500
• US Empire State Manufacturing Index Positive For 6th Month
• Will China Supercede Saudi Arabia As A Bigger Influence On The U.S. Oil Markets?
• Video: NYSE Closing Bell Market Monitor: JPM, BAC, C
• Cartoon: Stimulus Dollars At Work
• Daily ETF Roundup: GDX Sinks, VXX Rises
• Bankers Apologize To Congress
• Delphi Issues Senior Notes
• Skechers Sees Robust 4th Quarter
• Initiating Autodesk At Neutral
• Jon Stewart On “Banks Made Of Balsa Wood”
• Target Resumes Repurchase
• Starwood To Expand In China
• The Fallacy Of The Fallacy Of Composition
• Citi To Cap Cash Bonuses?
• Citi To Cap Cash Bonuses?
• CF Industries Ends Terra Pursuit
• AMCC To Reduce Workforce
• Volcano Expects Higher Revenues
• Intel Earnings, In-Depth
• Video: Front Month Crude Prices Slide
• EQT Corp Initiated As Underperform
• Canadian Solar’s Japanese JV
• Inflation Pressures Moderating
• Texas Wells Strike Big For Forest
• Must Read: While The Empire Crumbles Its Capital City Surges
• Natural Gas Down Due To Weather
• Video: Market Movers: JPM, OMX, BARE, MS, TE, SO
• The Mutual Fund Money Hole
• Digital River Acquires Softonic
• Video: Risk Aversion Strong As Euro Drops & Dollar Receives A Boost
• Industrial Production Rises
• El Paso’s Strong Liquidity
• Monsanto Remains Stable
• Swiss Franc: Rebound In Sight
• Australian Dollar: The Bias Remains Bullish
• Canadian Dollar: Caution
• Japanese Yen: The Upside Prevails
• British Pound: The Upside Prevails
• Euro: Bounce
• DTE Energy Confirms Guidance
• TAM Expands Domestically
• Contrarian Investing: Why It’s Last Call For These Three Contrarian Investment Opportunities
• TriQuint Upgrades Guidance
• Video: Arcelor Mittal Gets A Ratings Downgrade
• KT Beats Rivals On IPTV
• Forex Trading: GBPUSD Approaches Target Support At The 100 Hour MA
• Dollar Rallies On Greek Tragedy
• Israel ETF (EIS) Surges Ahead
• Wipro’s Strategic Retailing Solutions
• Video: NYSE Opening Bell Market Monitor: JPM, MT
• Why 4Q Earnings Season Will Bode Well For Stock Investors
• EU Approval For Abbott’s Test
• Forex Trading: USDCHF Holds 200 Hour MA And 38.2% Fibo Support
• Video: Asian Markets Mixed As Week Comes To A Close
• America Movil Consolidating?
• Technical Update On IEF And TLT
• Beyond TIP: 10 ETFs To Protect Against Inflation
• CSII Gets FDA Approval
• My Favorite Commodity To Buy Right Now
• Earnings Preview: Earnings Take Center Stage
• Analyst Interviews: E-Commerce Stock Review
• Stock Buy: NBTY Inc.

Stock Picks For Monday 18 January Posted: 15 Jan 2010 09:01 PM PST ( click to enlarge ) I feel there is an upcoming move. Tellabs (TLAB) continues to sit in a consolidation range after its big move on January 7th. At some point, TLAB will breakout and I want to be there for this move. Resistance stays at $6.22. Chaikin Money Flow shows accumulation and MACD is still strong. Do not give up on this stock. ( click to enlarge ) Intel (INTC) broke resistance on Thursday, but was not able to hold up on Friday. I still like this stock and expect a … [visit site to read more]

Video: The Week Ahead Posted: 15 Jan 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]

Fan Of Transparency? SEC’s Mary Schapiro Refuses To Address Her Past And That Of FINRA Posted: 15 Jan 2010 07:01 PM PST “I’m not here to talk about the past.” Mark McGwire, the steroid abusing home run hitting phoney, may have issued a massive mea culpa this week, but his career will forever be defined by his March 2005 Congressional obfuscation. In my strong opinion, Mary Schapiro is the financial industry’s equivalent of Mark McGwire. How so? In McGwire’s 2005 testimony, he very much wanted to position himself as a positive influence for future developments regarding the use and abuse of steroids in … [visit site to read more]

The War On Banks - Getting Curiouser And Curiouser Posted: 15 Jan 2010 06:01 PM PST Many mistakes were made during the Great Depression of the 1930s, and we seem determined to repeat all of them. They include starting a trade war with Smoot-Hawley, raising marginal tax rates in the middle of the depression, tightening monetary policy through misinterpretation of the meaning of excess bank reserves, and, of interest here, the demonizing of bankers and businessmen for political advantage. The proposed new tax can only be understood as pandering to uninformed or … [visit site to read more]

Bad Odds Posted: 15 Jan 2010 05:05 PM PST The Business Insider has put together a slideshow, “The 15 Costliest Financial And Political Risks Looming In The Next Decade,” highlighting the potential economic, social, political, and geopolitical threats detailed in a report by the organization that sponsors the annual gathering of movers-and-shakers at Davos, Switzerland, coming up at the end of this month. Here are three that I believe are far more likely to occur than the oddsmakers at the World Economic Forum have … [visit site to read more]

Forex Trading: USD/CAD Near Key Support Posted: 15 Jan 2010 05:01 PM PST Price action on USD/CAD, a daily chart of which is shown, has approached a strong support area in the 1.0200 price region, which represents the long-term 14-month low hit in October 2009. This approach of key support occurs within the context of an overall downtrend in the pair. As of early Friday (1/15/2010) New York session, price has tentatively made a bounce up off this support. Significant upside resistance for this bounce resides around the strong support/resistance area just above the … [visit site to read more]

UK, Germany, France At Greater Default Risk Than Top Companies Posted: 15 Jan 2010 04:49 PM PST Throughout the financial crisis we've witnessed governments stepping in to backstop and rescue failing corporations with loans and bailouts… now imagine the reverse. For the first time, judging by the cost of insuring against a debt default, "the market has started to price in a bigger probability of default among industrialised countries than among investment grade companies." According to the Financial Times: "This development reflects the market's current obsession with sovereign … [visit site to read more]

Why The 1,150 Level Is A Key Barrier For The S&P 500 Posted: 15 Jan 2010 04:24 PM PST I’ve been saying that the 1,150 level is the next likely target once 1,121 was broken, and the market is struggling to overcome the 1,150 level currently. Let’s take a look at an additional reason why 1,150 is an important barrier for the S&P 500. In my prior post “S&P 500 Hits 1,150 Resistance… but Will it Hold?” I described how the 50 month EMA is serving as overhead resistance on the higher timeframe. The chart above shows an updated Andrews Pitchfork Tool … [visit site to read more]

US Empire State Manufacturing Index Positive For 6th Month Posted: 15 Jan 2010 04:19 PM PST NY FED — The Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved for the sixth consecutive month in January. The general business conditions index climbed 11 points, to 15.9 (see chart). The new orders and shipments indexes posted similar increases, and the unfilled orders index rose above zero. Both the prices paid index and the prices received index rose significantly, with the latter moving above zero for the first time in more than a … [visit site to read more]

Will China Supercede Saudi Arabia As A Bigger Influence On The U.S. Oil Markets? Posted: 15 Jan 2010 04:05 PM PST I bought a Toyota Prius last Saturday. The signs are everywhere that oil is headed for stratospheric highs - $200, $250 or even $300 a barrel. Some of these signs are just plain obvious. But even the subtle indicators are telling us that some very expensive energy costs headed our way. Let me tell you about one such indicator that I came across over the New Year holiday. A tiny news item said that Saudi Arabian oil concern Aramco is abandoning a lease on Caribbean oil storage, and further … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: JPM, BAC, C Posted: 15 Jan 2010 02:07 PM PST The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]

Cartoon: Stimulus Dollars At Work Posted: 15 Jan 2010 02:01 PM PST Cartoon by Lisa … [visit site to read more]

Daily ETF Roundup: GDX Sinks, VXX Rises Posted: 15 Jan 2010 02:00 PM PST The financial sector was again in focus on Friday as JP Morgan reported lower than expected revenues as deep losses on mortgage and credit card loans weighed on the financial giant. Even though JP Morgan handily beat earnings estimates, cautionary reports from Morgan's management team brought up fresh concerns about a protracted downturn and sent most stocks, especially banks, sharply downward to close the week. The ETFdb 60 Index, a benchmark measuring the performance of asset classes … [visit site to read more]

Bankers Apologize To Congress Posted: 15 Jan 2010 02:00 PM PST The public spectacle continues. Bankers appeared in Congress yesterday. 'Yes…we sold a lot of toxic, explosive stuff to our clients,' they said. 'Yes, we used our own money to bet against them…' admitted Goldman's top man. 'Yes, we blew up the whole world economy. We're sorry.' Associated Press reports: "The bankers – whose companies collectively received more than $100 billion in taxpayer assistance to weather the crisis – offered no regrets for executive pay that is … [visit site to read more]

Delphi Issues Senior Notes Posted: 15 Jan 2010 01:56 PM PST Delphi Financial Group Inc. (DFG) announced yesterday the issuance of $250 million of its 7.875% senior unsecured notes.   The net proceeds from this offering will be used for general corporate purposes, including the repayment of corporate debt, which may include the repayment of debt outstanding under the existing revolving credit facility.   The notes will mature on Jan. 2020, and interest will be paid semi-annually in arrears. The notes will be unsecured and unsubordinated … [visit site to read more]

Skechers Sees Robust 4th Quarter Posted: 15 Jan 2010 01:37 PM PST Skechers U.S.A., Inc. (SKX) projected strong fourth-quarter 2009 results amid a challenging retail environment, and expects growth momentum to sustain in fiscal year 2010. Skechers expects fourth-quarter revenue to be more than $385 million, an increase of over $87 million, or approximately 30% from $298.1 million posted in the prior-year quarter. Based in Manhattan Beach, California, Skechers now anticipates fourth quarter earnings in excess of 50 cents per share, compared with a net loss of … [visit site to read more]

Initiating Autodesk At Neutral Posted: 15 Jan 2010 01:17 PM PST Autodesk, Inc. (ADSK) is well positioned to benefit from a recovery in the economic environment, but we do not expect a significant impact until the second half of fiscal 2011 (ending Jan. 2011). Therefore, we remain Neutral on the stock, given our long-term confidence about Autodesk's growth opportunities. Our target price of $28.00 is based on a P/E multiple of 25.5X our 2011 EPS estimate, a discount to the peer group. Autodesk reported better-than-expected third quarter of 2010 results, … [visit site to read more]

Jon Stewart On “Banks Made Of Balsa Wood” Posted: 15 Jan 2010 01:00 PM PST There are more than enough voices out there to willing to criticize the banks for acting in their own self interest. In fact, in the clip below, one such voice reports that Goldman Sachs' profit of "$12 billion last year…is precisely what taxpayers gave them, to help them get bailed out from their AIG exposure, it is all tax dollars…" Of course, for perspective, this tar-and-feather job is from none other than former New York Governor Elliot Spitzer, who seems perfectly at ease … [visit site to read more]

Target Resumes Repurchase Posted: 15 Jan 2010 12:38 PM PST Target Corporation (TGT) said it is resuming its $10 billion share repurchase program authorized by its Board in November 2007. The announcement came on the heels of better-than-expected retail and credit card segment results, and active management of capital expenditures, which led to robust cash flow generation. Based in Minneapolis, Minnesota, Target suspended its share repurchase activity in November 2008 to preserve its cash and safeguard its debt ratings in the wake of a faltering … [visit site to read more]

Starwood To Expand In China Posted: 15 Jan 2010 12:19 PM PST Starwood Hotels & Resorts Worldwide Inc. (HOT) plans to open two new hotels in China under its Luxury Collection brand. The expansion is part of the company's strategy to enhance its international business and take advantage of the Chinese economy, which has significant growth potential over the next few years. Starwood plans to reopen The Astor Hotel in Tianjin in May 2010 after renovating the hotel spending $22 million. The hotel features 152 luxury guest rooms and suites. Starwood … [visit site to read more]

The Fallacy Of The Fallacy Of Composition Posted: 15 Jan 2010 12:07 PM PST No unarmed profession has done as much harm as economists. Recently, Yukio Hatoyama, the new Japanese Prime Minister, proved it again…revealing a budget deficit that must have made Paul Krugman drool. The Japanese government will spend 92.3 trillion yen next year, about 1 trillion dollars. Tax receipts will be enough to cover only half that amount, leaving the nation with the biggest shortfall since WWII. It is obvious to everyone but an economist that spending twice as much as you earn is … [visit site to read more]

Citi To Cap Cash Bonuses? Posted: 15 Jan 2010 12:03 PM PST Citigroup Inc. (C) may cap cash bonuses for 2009 at below $100,000. The 2009 bonus pool at the company is expected to be similar to the 2008 level, which was low compared to the other years. Citi may pay a large part of the bankers' and traders' bonuses in stock that cannot be sold for a number of years. Citi may pay up to 40% of bonuses in the form of deferred cash and stock and the balance in the form of non-deferred cash and IOUs, which will turn to common stock in April. Currently, … [visit site to read more]

Citi To Cap Cash Bonuses? Posted: 15 Jan 2010 12:00 PM PST According to a report from the Financial Times today [our earlier posting of this story did not cite FT], Citigroup Inc. (C) may cap cash bonuses for 2009 at below $100,000. The 2009 bonus pool at the company is expected to be similar to the 2008 level, which was low compared to the other years. Citi may pay a large part of the bankers' and traders' bonuses in stock that cannot be sold for a number of years. Citi may pay up to 40% of bonuses in the form of deferred cash and stock and the … [visit site to read more]

CF Industries Ends Terra Pursuit Posted: 15 Jan 2010 11:47 AM PST Shares of chemical manufacturer CF Industries Holdings Inc. (CF) fell 1.82% and closed at $93.19 after it pulled out its offer to acquire rival fertilizer company, Terra Industries Inc. (TRA). CF Industries announced yesterday that it is no longer pursuing the acquisition deal. Deerfield, Illinois-based CF Industries has been pursuing a hostile acquisition of Terra since January of last year. However, Terra's shareholders has been repeatedly rebuffing CF's offer. In its last bid, CF had … [visit site to read more]

AMCC To Reduce Workforce Posted: 15 Jan 2010 11:29 AM PST Applied Micro Circuits Corporation (AMCC) recently announced that it would reduce its workforce by 11% as part of its restructuring plan. Management expects to incur an employee severance charge of approximately $1.3 million – $1.7 million in 2010. Management had earlier chalked out a restructuring plan to reduce costs and improve operational efficiency by integrating its global operations. This integration is expected to reduce operating expenses by taking advantage of a global cost … [visit site to read more]

Volcano Expects Higher Revenues Posted: 15 Jan 2010 11:16 AM PST Volcano Corporation (VOLC) recently announced that it expects total revenues to increase 33% year over year to $228 million in fiscal 2009. This is above the company's previously issued revenue guidance of $218 − $223 million. Meanwhile, fourth quarter revenues are expected in the range of $71 million, reflecting a year over year growth of 44%.   The company said that the results for the full year and fourth quarter of 2009 include revenues of approximately $18 million and $5.8 … [visit site to read more]

Intel Earnings, In-Depth Posted: 15 Jan 2010 11:14 AM PST Intel Corp (INTC) reported very strong earnings in the fourth quarter, beating the Zacks Consensus Estimate by 6 cents. Excluding the $1.25 billion fine paid to Advanced Micro Devices (AMD) and other one-time items, earnings were 61 cents a share, or 27 cents higher than the Zacks consensus. Shares climbed 2.5% in response to the news, much stronger than the S&P 500, which were up 0.24% on average. Revenue Revenue of $10.6 billion was up 12.6% sequentially and 28.5% year over year. This … [visit site to read more]

Video: Front Month Crude Prices Slide Posted: 15 Jan 2010 11:08 AM PST Front month crude prices slipped this session following speculation that Chinese banks will soon cut its lending practices. … [visit site to read more]

EQT Corp Initiated As Underperform Posted: 15 Jan 2010 11:03 AM PST We have recently initiated coverage on EQT Corporation (EQT) with an Underperform recommendation and a target price of $39.   Based in Pittsburgh, Pennsylvania, EQT is an integrated energy company with an emphasis on natural gas supply activities in the Appalachian area, including production and gathering, natural gas distribution and transmission, and energy efficiency solutions, primarily in the eastern and western coastal regions of the United States.   The company has been … [visit site to read more]

Canadian Solar’s Japanese JV Posted: 15 Jan 2010 10:47 AM PST Canadian Solar Inc. (CSIQ) announced that it has formed a joint venture and an 18 MW distribution deal with West Holding Ltd of Japan. The agreement stipulates a transfer of 14% of the shares in Canadian Solar Japan − the Japanese subsidiary of Canadian Solar Inc. − to West Holding Ltd. Canadian Solar will retain the remaining 86% stake in its subsidiary. West Holding Ltd will distribute and sell solar residential rooftop systems designed by Canadian Solar Japan. The sales target for … [visit site to read more]

Inflation Pressures Moderating Posted: 15 Jan 2010 10:44 AM PST The composite indicator that measures the trends in gold, crude oil, and yields on the 10 year Treasury has moderated and will end the week below the extreme zone. End of the week weakness in crude oil, gold and Treasury yields has caused the indicator to back off. Typically or at least historically, this indicator has longer periods above its extreme zone, and there isn’t so much in and out trading on a week to week basis. I suspect a lot of this has to do with the very high correlations … [visit site to read more]

Texas Wells Strike Big For Forest Posted: 15 Jan 2010 10:28 AM PST With the announcement of tremendous production results from two of its latest Texas wells, shares of Forest Oil Corporation (FST) jumped more than 10% yesterday to a 52-week high of $27.70.    The third and fourth wells in the Texas Panhandle Granite Wash region came in with an average 24-hour production rate of 37 MMcfe/d (million cubic feet equivalent per day), compared to an average of 23.5 MMcfe/d for the company's first and second wells in this area. These wells delivered … [visit site to read more]

Must Read: While The Empire Crumbles Its Capital City Surges Posted: 15 Jan 2010 10:23 AM PST We wrote earlier this week about the Empire of Debt's new financial capital, Washington, DC, and the theme seems to be catching on. Resident fellow at the American Enterprise Institute, David Frum, has now written a piece for CNN expanding on the topic… "Over two centuries, American culture has been shaped by the physical separation of politics and finance. The British might centralize everything in London, the French in Paris, the other countries of Europe in their great capitals, but … [visit site to read more]

Natural Gas Down Due To Weather Posted: 15 Jan 2010 10:11 AM PST In its weekly release, the Energy Information Administration (EIA) reported a slightly larger-than-expected 266 billion cubic feet (Bcf) drop in natural gas supplies for the week ended Jan. 8, 2010. The inventory decline was the sixth in as many weeks and significantly exceeded the 5-year-average drawdown of 76 Bcf and last year’s withdrawal of 88 Bcf. This has finally started to dent the record-high storage amounts, as frigid temperatures continue to chill major gas-consuming regions in the … [visit site to read more]

Video: Market Movers: JPM, OMX, BARE, MS, TE, SO Posted: 15 Jan 2010 10:11 AM PST The latest news and information on U.S. stocks that are moving the market. … [visit site to read more]

The Mutual Fund Money Hole Posted: 15 Jan 2010 10:05 AM PST Chris Mayer is winging his way to Australia with a few select subscribers as we write… but we suspect he'd chuckle at this news: 97% of all stock mutual funds are down from where they stood at the beginning of 2008. According to Morningstar, the average stock fund rose 35% last year… but that wasn't nearly enough to overcome the 41% loss the year before. (41%? The S&P fell only 38%!) Only six funds — six! — managed double-digit returns across the two-year span. This brings to … [visit site to read more]

Digital River Acquires Softonic Posted: 15 Jan 2010 09:56 AM PST Digital River, Inc. (DRIV) recently announced that it will acquire less than a 15% stake in privately-held Softonic for $26 million. Barcelona-based Softonic is a leading download site and market leader in software downloads in Europe and Latin America, offering thousands of software titles for Windows, Macintosh (personal computers designed by Apple Inc. (AAPL) and mobile phones. Digital River's final stake in the company will be determined based on Softonic's future financial … [visit site to read more]

Video: Risk Aversion Strong As Euro Drops & Dollar Receives A Boost Posted: 15 Jan 2010 09:52 AM PST Risk aversion continued to strengthen this session following an improvement in US economic data and growing concerns over Chinese banks cutting back on its lending measures. … [visit site to read more]

Industrial Production Rises Posted: 15 Jan 2010 09:50 AM PST Industrial Production rose by 0.6% in December, matching both the revised November increase (previously 0.8%) and consensus expectations. However, when you dig just a bit below the surface, the report was weaker than expected. Manufacturing output actually declined 0.1%, and the November rise was revised down to 0.9% from 1.1%, while the October number was revised up to a decline of 0.1% from the previous 0.2% decline. The overall increase was due to a 5.9% surge in Utility output, which has … [visit site to read more]

El Paso’s Strong Liquidity Posted: 15 Jan 2010 09:37 AM PST El Paso Corp. (EP) ended the year with a strong liquidity of approximately $1.8 billion, following the closing of a $103.5 million acquisition in the Altamont-Bluebell field. Management exclaimed that El Paso has started 2010 with a strong cash position and is making excellent progress towards its 2010 goals.   The acquisition consisted of oil assets with proved oil reserves of approximately 70 billion cubic feet equivalent at a price of $1.49 per thousand cubic feet equivalent. The … [visit site to read more]

Monsanto Remains Stable Posted: 15 Jan 2010 09:20 AM PST Recently, Monsanto Co. (MON) recently reported results for the first quarter of 2010. Net sales slumped 36% year over year to $1,697 million primarily due to lower sales of glyphosate-based herbicides in Brazil and Europe.   Monsanto reported a net loss of 3 cents per share, compared to a net profit of $1 per share in first quarter of 2009. The Zacks Consensus Estimate for the reported quarter was pegged at a profit of 1 cent per share.   For fiscal 2010, the Zacks Consensus … [visit site to read more]

Swiss Franc: Rebound In Sight Posted: 15 Jan 2010 09:17 AM PST Update on supports and resistances. … [visit site to read more]

Australian Dollar: The Bias Remains Bullish Posted: 15 Jan 2010 09:17 AM PST Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Caution Posted: 15 Jan 2010 09:17 AM PST Update on supports and resistances. … [visit site to read more]

Japanese Yen: The Upside Prevails Posted: 15 Jan 2010 09:17 AM PST Update on supports and resistances. … [visit site to read more]

British Pound: The Upside Prevails Posted: 15 Jan 2010 09:17 AM PST Update on supports and resistances. … [visit site to read more]

Euro: Bounce Posted: 15 Jan 2010 09:17 AM PST Update on supports and resistances. … [visit site to read more]

DTE Energy Confirms Guidance Posted: 15 Jan 2010 09:04 AM PST DTE Energy Co. (DTE) confirmed its fiscal 2009 earnings per share guidance of $3.20 to $3.40. In addition, DTE Energy confirmed its 2010 outlook of $545 million to $610 million in operating earnings. The company also received a regulatory approval by the Michigan Public Service Commission in its electric utility rate case. This rate hike provides solid support for Detroit Edison’s 2010 outlook of $405 million to $435 million in operating earnings.   Incorporated in 1995, Detroit, … [visit site to read more]

TAM Expands Domestically Posted: 15 Jan 2010 08:47 AM PST TAM S.A. (TAM) signed agreements with Sabre and is negotiating with Amadeus and Travelport to make its entire content (rates and inventory) in the Brazilian market available through the Global Distribution Systems (GDS) operated by the three companies.   The agreements will not have any impact on the end user, who will still be able to purchase airline tickets through travel agencies and TAM stores, and also through the call center and the company’s website.   TAM will continue to … [visit site to read more]

Contrarian Investing: Why It’s Last Call For These Three Contrarian Investment Opportunities Posted: 15 Jan 2010 08:42 AM PST Friday, January 15, 2010: Issue #1176 When salmon swim against the current, they know they're taking a big risk. They know they're easy prey for hungry bears. Many get killed. When investors swim against the current – defying conventional wisdom about a particular stock or sector of the market – they can make a killing. That, in a nutshell, is the allure of contrarian investing. The trick, of course, is not to blindly pick any investment that goes against the crowd, but instead to … [visit site to read more]

TriQuint Upgrades Guidance Posted: 15 Jan 2010 08:31 AM PST TriQuint Semiconductor, Inc. (TQNT) reported preliminary results for the fourth quarter of 2009. The company now expects revenues of around $190 million, up from the previous guidance of $175 million to $185 million. The increase in guidance has been primarily due to increased demand during the holiday season. In October, management had warned that a Korean handset manufacturer was making a material adjustment in its demand to bring down excess inventory, which in turn would impair demand in … [visit site to read more]

Video: Arcelor Mittal Gets A Ratings Downgrade Posted: 15 Jan 2010 08:17 AM PST Steelmaker Arcelor Mittal (MT) was downgraded Friday by SNS Securities to “reduce” from “buy” following expansion plans and the possibility of recalling workers. … [visit site to read more]

KT Beats Rivals On IPTV Posted: 15 Jan 2010 08:15 AM PST KT Corporation (KT), South Korea's incumbent fixed-line carrier, has outplayed its South Korean peers in amassing subscribers for its IPTV (television over broadband Internet) services in 2009. KT Corp, which recently changed its ticker symbol on the NYSE from "KTC” to "KT”, operates its IPTV services under the "Qook” moniker.  The carrier has reportedly lured 994,000 net new customers in 2009 for its real-time IPTV service with a total IPTV subscriber base reaching 1.01 … [visit site to read more]

Forex Trading: GBPUSD Approaches Target Support At The 100 Hour MA Posted: 15 Jan 2010 08:14 AM PST   As per the prior post, the break of the trendline targetted the low from yesterday and the 100 hour MA (see prior post).  The target support comes in at the 100 hour MA at the 1.6227 level. Look for buyers against the level on the first test at … [visit site to read more]

Dollar Rallies On Greek Tragedy Posted: 15 Jan 2010 08:12 AM PST The euro (EUR) has led the non-dollar currencies down versus the dollar overnight. After spending three days this week hovering back and forth over and under the 1.45 handle, the euro finally succumbed to some selling. The selling is being blamed on the Greece story once again… I mean, come on! Haven't we already been there, done that, and bought the T-Shirt, with Greece? But here we are, this morning, looking at the euro trading below 1.44… And all the other currencies have backed off … [visit site to read more]

Israel ETF (EIS) Surges Ahead Posted: 15 Jan 2010 08:04 AM PST As a country with virtually no natural resources that is surrounded by hostile neighbors, Israel's path from an emerging market to first world status mirrored to some extent that of Singapore, embracing innovation and technological know-how in order to propel itself to developed status.  This model has served the small country of just over seven million people remarkably well over the years and especially well in the face of the recent global economic slowdown. In fact, Israel has … [visit site to read more]

Wipro’s Strategic Retailing Solutions Posted: 15 Jan 2010 08:00 AM PST Wipro Technologies, the global IT services business of Wipro Limited (WIT), announced the launch of two strategic retail solutions, Digital Customer Experience Platform and Loss Prevention Platform.  Wipro's Digital Customer Experience Platform (DCP) is a comprehensive solution designed to enable retailers manage their online business in an integrated manner. It is a pioneering effort to integrate social media, community features and personalization for providing an engaging customer … [visit site to read more]

Video: NYSE Opening Bell Market Monitor: JPM, MT Posted: 15 Jan 2010 07:53 AM PST The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 9:30 am EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]

Why 4Q Earnings Season Will Bode Well For Stock Investors Posted: 15 Jan 2010 07:45 AM PST As earnings season kicks into high gear in the coming weeks, many analysts expect an abundance of good news, mostly because earnings last year were abnormally low. And that bodes well for investors. For the first time since the second quarter of 2007, earnings of stocks in the Standard & Poor’s 500 Index should be higher than they were the year before. That would break the longest losing streak since S&P began keeping track of operating earnings in 1991. “It’s going to be on the … [visit site to read more]

EU Approval For Abbott’s Test Posted: 15 Jan 2010 07:45 AM PST Abbott Labs (ABT) recently announced that it has gained approval in Europe for a new diagnostic tool which will help determine the possibility of a pelvic mass being benign or malignant. The blood test named ARCHITECT human epididymis protein 4 (HE4) test, has been designed to facilitate the assessment of epithelial ovarian cancer.   It has been observed that the HE4 test, in combination with other tests such as the CA125 assay, could help measure the risk of epithelial ovarian cancer … [visit site to read more]

Forex Trading: USDCHF Holds 200 Hour MA And 38.2% Fibo Support Posted: 15 Jan 2010 07:40 AM PST   The USDCHF fell through support at the 1.0250 level but held the support agains theh 1.0242 level where the 200 hour MA and the price rebounded.  The 1.0276 level is the next target, but the break above the channel trendline, the holding of the 200 hour MA should have the bulls feeling more comfortable.  Where they get concerned is a break through the 200 hour MA … [visit site to read more]

Video: Asian Markets Mixed As Week Comes To A Close Posted: 15 Jan 2010 07:33 AM PST The major Asian/Pacific markets approached the end of the week trading mixed once again following declines in domestic banks. … [visit site to read more]

America Movil Consolidating? Posted: 15 Jan 2010 07:30 AM PST In an effort to consolidate its position in the fiercely competitive Mexican wireless market, Latin America's largest wireless carrier America Movil (AMX) is reportedly planning to acquire Mexican wireline operators Carso Global Telecom and Telmex Internacional (TII) or Telint. This represents one of the biggest consolidation initiatives in the Latin American telecom market. America Movil's shares fell 4.8% ($2.41) on the NYSE on January 14, 2010, closing at $47.60.  Mexico-based … [visit site to read more]

Technical Update On IEF And TLT Posted: 15 Jan 2010 07:30 AM PST When we last looked at longer term Treasury yields, I stated that longer term Treasury yields were likely to undergo a secular trend change from down to up, but I had reservations because significant resistance was overhead, sentiment was too bullish for higher yields, and Treasury yields were greatly overbought. Honestly, last week I was not sure which way the bond market was going to go but I did offer up a game plan. This article will review the game plan that now has me more constructive on … [visit site to read more]

Beyond TIP: 10 ETFs To Protect Against Inflation Posted: 15 Jan 2010 07:28 AM PST Over the last year, U.S. equity markets have staged a remarkable recovery as volatility has plummeted and the emergency stimulus measures implemented amidst heated debate appear to have had their intended effect. Indications that unemployment may be close to peaking and that consumer confidence is on the rise once again only add fuel to the recovery fire. But amidst all the unbridled optimism is a growing number of investors concerned that the time will soon come to pay the piper following the … [visit site to read more]

CSII Gets FDA Approval Posted: 15 Jan 2010 07:15 AM PST Cardiovascular Systems, Inc. (CSII) recently received the U.S. Food and Drug Administration's (FDA) conditional Investigational Device Exemption (IDE) approval. The approval is meant to evaluate the safety and effectiveness of the company's Diamondback 360 degree System used to treat calcified coronary lesions.  Cardiovascular Systems is now authorized to begin its pivotal trial, ORBIT II, in early 2010 and initially enroll up to 100 patients at as many as 50 U.S. sites. The … [visit site to read more]

My Favorite Commodity To Buy Right Now Posted: 15 Jan 2010 05:00 AM PST By Porter Stansberry In yesterday’s DailyWealth, I outlined how rising interest rates will depress the stock market’s P/E multiple… which will create a giant headwind for stock market investors. You can protect yourself from this headwind by avoiding high-priced growth stocks. A popular growth stock trading for a P/E of 40 can get cut in half in a matter of months in this kind of environment. For instance, Amazon currently trades for 75 times earnings. Surgical device maker Intuitive … [visit site to read more]

Earnings Preview: Earnings Take Center Stage Posted: 14 Jan 2010 09:00 PM PST Earnings Preview 1/15/10 Next week, the 4Q09 earnings season really starts to gain some steam. There will be a total of 165 firms reporting, including 61 members of the S&P 500. These will include such bellwethers as IBM (IBM), GE (GE), Goldman  Sachs (GS), Bank of America (BAC) and American Express (AXP). It will be a relatively light week for economic data, so earnings will really take center stage. Monday  Nothing of significance in terms of hard numbers, but we do … [visit site to read more]

Analyst Interviews: E-Commerce Stock Review Posted: 14 Jan 2010 09:00 PM PST The Electronic Commerce, or e-commerce industry, is one of the most dynamic sectors of the economy. The industry is still evolving, so data collection and evaluation are particularly difficult. Consequently, one has to rely largely on surveys by both government and private agencies. According to the U.S. Census Bureau, the manufacturing sector is the largest contributor to e-commerce sales (35% of total shipments), followed by merchant wholesalers (21.2%). These two segments make up the … [visit site to read more]

Stock Buy: NBTY Inc. Posted: 14 Jan 2010 09:00 PM PST NBTY Inc. (NTY) recently announced preliminary fiscal first-quarter results which showed sales jumped 14%. The company has a PEG ratio of just 0.90 and is trading at 12.6x forward earnings. Company Description NBTY manufactures and distributes nutritional supplements in the United States and around the globe. The company offers 22,000 products under the name brands Vitamin World, Puritan’s Pride, Holland & Barrett, Rexall, Sundown, Worldwide Sport Nutrition and GNC (UK), among … [visit site to read more]

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