Jan 28, 2010

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

Forex Trading: Fed Shows Signs Of Moving Away From Loose Monetary Policy

Posted: 28 Jan 2010 03:16 AM PST

Yesterday’s FOMC statement provided an unexpected split vote that suggests the Fed may be starting to lean away from continued loose monetary policy. Although the committee members kept interest rates unchanged and preserved most of the wording from the last statement, Fed member Hoenig dissented in the vote; as he believed “that economic and financial conditions had changed sufficiently that the expectation of exceptionally low levels of the federal funds rate for an extended period was no … [visit site to read more]


First Trust To Launch Equity Platinum, Copper ETFs

Posted: 28 Jan 2010 03:15 AM PST

First Trust has plans to launch a pair of new exchange traded funds (ETFs) focusing on the precious metals platinum and copper. The funds will track a basket of equities instead of being physically backed by the metals.

First Trust is getting ready to launch a couple of ETFs focusing on platinum and copper, which will track the First Trust ISE Global Copper Index Fund and the First Trust Global ISE Platinum Index Fund.

The ETF Professor on Benzinga reports that the ETFs will hold … [visit site to read more]

Will Sirius XM Radio Break Through Resistance?

Posted: 28 Jan 2010 03:05 AM PST

Sirius XM Radio (SIRI) has been showing positive and bullish signals this two weeks in its stride towards 78 cents. Most indicators look positive with MACD and Acc/Dist turning up. Last night, it tested 74 cents with relatively good volume. However, what i would like to see is a much higher volume to break through 78 cents resistance. During the august 2009 timeframe, the 78 cents high is traded at the day high volume of 0.19 Billion share compared to the current 0.04 Billion share traded … [visit site to read more]

Fed Bets On Low Inflation And A Stable Housing Market

Posted: 28 Jan 2010 02:46 AM PST

The so-called “exit strategy” has yet to enter the picture.

U.S. Federal Reserve policymakers yesterday (Wednesday) announced that the benchmark Federal Funds rate would remain in its record-low range of 0.00% to 0.25% for an “extended period.” And policymakers also said that the nation’s central bank would continue with its plan to wind down its purchases of agency debt and mortgage-backed securities.

The term “exit strategy” is a financial euphemism for boosting interest rates. By … [visit site to read more]

Forex Trading: Eurozone Economic And Business Climate

Posted: 28 Jan 2010 02:08 AM PST

Eurozone Business Climate Indicator came in at -1.12, weaker than the -1.10 expected but stronger than the -1.22 prior reading and this is the highest reading since October 2008.
Industry Confidence came in at -14, stronger than the -15 expected and -16 prior reading.
Consumer Confidence came in at -16, weaker than the -15 expected.
Economic Confidence came in at 95.7, stronger than the 92.3 expected and prior reading of 94.1.
Overall positive data for the Euro although Eur/Usd relatively … [visit site to read more]

Video: Toyota Recalls 8 Car Models

Posted: 28 Jan 2010 01:00 AM PST

Toyota Motors temporarily halted the sale of eight popular vehicles to fix faulty gas pedals. … [visit site to read more]

Forex Trading: Gbp/Jpy Trading In Between 100 And 200 Hour M/A

Posted: 27 Jan 2010 11:21 PM PST

Gbp/Jpy has been a high flyer in recent days. Currently the pair is trading in between its 100 and 200 hour M/A with momentum to the upside. The pair should find resistance around 146.55, a trendline of old hourly highs. If it breaks above then its 200 hour M/A of 146.83 should act as added resistance.
To the downside the 61.8 fibo lies at 145.87 with better support beneath in the form of its 100 hour M/A at 145.40 , with help from the 50% fibo at … [visit site to read more]

Discussing The Outlook For Crude Oil And Natural Gas Stocks With Martin R. Pelletier Of TriVest Wealth Counsel

Posted: 27 Jan 2010 10:01 PM PST

Martin R. Pelletier, CFA is a Portfolio Manager at Trivest Wealth Counsel

Biography: Martin has over 12 years of experience in the investment and finance sector providing extensive financial modeling and fundamental analysis on commodities, sectors, and individual equities. This also allowed for the establishing of senior management and board level relationships among those in the Canadian and International energy sector as well as providing regular investment advice and … [visit site to read more]

Forex Trend Trading Philosophy

Posted: 27 Jan 2010 09:01 PM PST

I am often asked my opinion on the best ways to capitalize upon trends in the forex market. My general philosophy for taking advantage of the frequently occurring trends in the forex market on any timeframe is very simple. When there is a clear trend, especially one that is relatively strong, the best method for exploiting the directional bias is to trade breakouts of both consolidations and counter-trend retracements, all in the direction of the prevailing trend.

How does one know … [visit site to read more]

Why Hasn’t Joe Cassano Been Indicted?

Posted: 27 Jan 2010 08:01 PM PST

Joseph Cassano, former head of AIG-FP

What is wrong with this picture?

1. The American taxpayer injects tens of billions of dollars into a failing AIG (AIG).

2. The debate runs hot as to how the Feds executed a backdoor bailout of AIG’s creditors, both Wall Street and international banks.

3. The taxpayer remains on the hook, the banks get their dough, and AIG attempts to resurrect itself.

I will tell you what is wrong with the picture. We are now going on two years and … [visit site to read more]

Frugality Is Taking Root, Have You Stopped Shopping?

Posted: 27 Jan 2010 07:00 PM PST

We've previously discussed the coming trend of a downsizing America, and now evidence increasingly suggests that the trend has landed and is taking root. Examples range from Procter & Gamble releasing a discounted Tide Basic, to the waning obsession with home ownership, to used car sales increasing relative to new car sales, to even rent-to-own furniture business is picking up.
From US News & World Report:
"The bumper sticker for this trend is the "new frugality." But that's … [visit site to read more]

Video: The Day Ahead: Earnings Reports

Posted: 27 Jan 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]

Update On The US Dollar Index Bull Flag: Bump In The Road

Posted: 27 Jan 2010 06:45 PM PST

I recently highlighted the “Bull Flag Formation in the US Dollar Index” on January 18th (see prior post), and now that we have successfully broken higher confirming the bull flag, it’s time to take an updated view of the daily US Dollar Index chart to take a look at a “bump in the road” that must be overcome to complete the full target.

Let’s see that now.

Taking a compressed view, we also see the lengthy positive momentum divergence that preceded the sharp (expected) rally in … [visit site to read more]

Singapore Stock Market: Our Focus For Today Is On Property, Commodity & Financial Sector – Short Selling

Posted: 27 Jan 2010 05:59 PM PST

Morning Highlights
Our Focus For Today Is On Property, Commodity & Financial Sector – Short Selling
The Asian stock markets were broadly higher Thursday following a rise on Wall Street after the U.S. Federal Reserve left interest rates near zero as expected.  Singapore shares also rise in morning trading with the key STI up more than 30 points in the first 30mins of trading.
Corporate Announcements

Keppel Corp's Keppel FELS unit has secured a contract from Aramco Overseas Company … [visit site to read more]

This Deficit Reduction Is Definitely Working

Posted: 27 Jan 2010 01:00 PM PST

Unfortunately, even in its inflated version of the figure, the spending freeze's potential $250 billion savings — over 10 years — simply won't do much to help resolve the $1.35 trillion federal deficit.
It's always going to be disappointing when you bring a knife to a gun fight… or, as the case may be, ice cubes to a blazing inferno.
This cartoon came to our attention via Jesse Felder's post on spending freeze … [visit site to read more]

How I’m Going To Buy Iraq’s Oil

Posted: 27 Jan 2010 10:01 AM PST

The gain was a fraction of what I’d hoped for.

Last May, I wrote a full issue of my S and A Resource Report advisory on an investment that sounds absolutely crazy to most people. I recommended buying a company with significant oil assets in Iraq.

Addax Petroleum got us a slice of what will be the greatest resource story of the next few decades: the development of Iraq’s oil resources. Here’s why you should be interested in this story…

Today, Iraq is officially credited with … [visit site to read more]

Singapore Stock Market: Our Focus For Today Is On Property & Financial Sector – Short Selling

Posted: 26 Jan 2010 05:50 PM PST

Morning Highlights
Our Focus For Today Is On Property & Financial Sector – Short Selling
The STI opened at 2741.26 and inched up slightly. Most of the other markets were lower. Australian market falling sharply on losses in financial and materials shares. U.S stocks slip into red as financials decline and worries over China tightening.
Market is doing a throwback today. During the throwback, volume will dry up. So, do lookout for setups that form today. We are also on focusing on … [visit site to read more]
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