Feb 25, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

Billonaire Investor George Soros Questions The Future Of The Euro

Posted: 25 Feb 2010 03:50 AM PST

In an editorial penned for the Financial Times, billionaire investing icon George Soros said that while Greece could be salvaged by a makeshift financial-rescue package, bigger problems lie ahead for the euro.

According to weekend news reports, Germany’s finance ministry has sketched out a plan under which countries using the euro currency will provide between $27 billion and $33.7 billion (20 billion and 25 billion euros) in aid for Greece, which is teetering on the brink of … [visit site to read more]

Madoff Investors Suing The Securities Investor Protection Corporation (SIPC)

Posted: 25 Feb 2010 03:01 AM PST

You can rest assured that the powers that be on Wall Street would just as soon have the Madoff saga over. The Madoff scam perpetrated on investors is an ugly reminder of the non-existent financial regulatory system during the better part of the last twenty years.

I also believe many in Washington also might like to see the Madoff saga quietly pass by. The failures of the SEC, FINRA, and SIPC in this greatest of scams are an ugly reminder of the Wall Street-Washington incest.

Well, … [visit site to read more]

It’s Coffee Time

Posted: 25 Feb 2010 02:01 AM PST

Green Mountain Coffee (NASDAQ:GMCR)

It looks like Coffee time again. Take a break from past weeks of rough trading. GMCR has been consolidation in a tight narrow range since failing the attempt to breakout of $88. Yesterday, it tested and broke the channel resistance at $84.79 on high volume.

Expect resistance at $86.29 and $89. But this is a good development for GMCR technically, as MACD and RSI also show some bullish sign. There is a strong support level around $80 and if GMCR can clear … [visit site to read more]

Forex Trading Review For 25/02/2010

Posted: 25 Feb 2010 01:29 AM PST

USD Dollar (USD)

The Dollar weakened versus most majors after Federal Reserve Chairman Ben Bernanke told Congress that a weak job market and low inflation would likely allow the central bank to keep interest rates at very low levels for a long time. Sales of new homes in the U.S. unexpectedly plunged in January to the lowest level on record, coming out at 309K vs. 354K forecast. NASDAQ and Dow Jones increased by 1.01% and 0.89% respectively. Crude oil rose by 1.3% closing at 79.9$ a barrel, … [visit site to read more]

Stock Picks For Thursday 25 February: American International Group, Rambus

Posted: 25 Feb 2010 01:09 AM PST

( click to enlarge )

Rambus (NASDAQ:RMBS) This is a short term look at Rambus chart:

- Wednesday, RMBS closed again below its 10 day moving average. This is generally considered to an indication of a short term bearish trend.
- The Stochastic Oscillator is registering a bearish signal as the %K has crossed below the %D.
- The On Balance Volume indicator presently offers a neutral signal.
- Short term: Prices are moving. (down). By the way, prices are vulnerable to a correction … [visit site to read more]

Forex Trading: Eurozone M3 Money Supply Growth At 0.1%, Private Loans Fall

Posted: 25 Feb 2010 01:06 AM PST

Eurozone M3 Money Supply y/y came in at 0.1% as expected and stronger than prior reading of -0.3%.
Private Loans y/y came in at -0.6%, weaker than the 0.1% expected and -0.1% prior reading.
Eur/Usd sold off about 10 points upon release, currently trading at … [visit site to read more]

A Greek Fable About The Gold Standard

Posted: 25 Feb 2010 12:25 AM PST

There has been a lot of hand wringing over the situation in Greece. On analyst asked the question could Greece repeat the Argentina 2001 fiasco? Notable features of that episode were:

How did the situation in Argentina end? Not too well. Economic depression, mass insolvencies, bank runs, forced seizure of deposits, unemployment and underemployment exceeding 40%, blood in the streets, a fall of the government, a complete reneging of the terms of the “rescue packages,” an abandonment of the hard … [visit site to read more]

Forex Trading: Eurozone Consumer Confidence

Posted: 25 Feb 2010 12:19 AM PST

Euro zone consumer confidence was -17; in line with it's forecast, but was still worse than the prior reading of … [visit site to read more]

Forex Trading: Euro And Asian Stocks Fall On Talks Of Greece Downgrade

Posted: 24 Feb 2010 09:40 PM PST

Moody's investor services and S&P made comments that they may possibly downgrade Greece's credit rating once again, which caused the euro to fall to a one year low against the JPY. It reached a rate of 120.74, the lowest level since February 24, 2009.  Additionally, the Nikkei dropped 0.9% and Australia's S&P/ASK 225 fell 0.9%.  The comments released warned that Greece's fiscal problems could possibly spread to other nations and continue losses in the euro. It … [visit site to read more]

Leading Economic Indicators Keep Rising, But Is It A Warning Sign?

Posted: 24 Feb 2010 09:01 PM PST

Last Thursday the Conference Board published its Leading Economic Index (LEI) for the U.S. In January this historically-reliable indicator increased 0.3 percent after shooting up 1.2 percent in December and 1.1 percent in November. This was the tenth consecutive rise!

Five of the ten components made positive contributions: The interest rate spread, stock prices, supplier deliveries, factory workweek, and consumer expectations.

The LEI’s much more important year-over-year percentage change … [visit site to read more]

Did You Sell GLD, GDX, SLV?

Posted: 24 Feb 2010 08:17 PM PST

Ok, this one is for all you bull market geniuses out there who have been buying the SPDR Gold Trust (symbol: GLD), the Market Vectors Gold Miners ETF (symbol: GDX), and the i-Shares Silver Trust (symbol: SLV) all the way down and since they peaked in mid January.

Let me remind you that the last time we visited GLD, GDX, and SLV it was on January 20, 2010 when I stated that “it is my expectation that precious metals will be under pressure.” So let’s revisit those ETF’s, and see where we stand … [visit site to read more]

How To Analyze The Value Of A Container Shipping Company

Posted: 24 Feb 2010 08:01 PM PST

Containerized shipping deals with the transportation of mainly finished goods by sea. Containers are usually twenty foot equivalent (Teu) and forty foot equivalent (Feu) boxes. Theses boxes come in different forms such as standard, high cube, open top, flat rack, hard top, refrigerated, etc. Container shipping is a cyclical and capital intensive industry.

Change In US Container Traffic And Real GDP 1995 - 2008

As the above graph illustrates container traffic and GDP growth move in … [visit site to read more]

Video: The Day Ahead: US Durable Goods & Jobless Claims

Posted: 24 Feb 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]

Forex Trading: USD/JPY Breaks Down Within Downtrend

Posted: 24 Feb 2010 06:55 PM PST

Price action on USD/JPY, a daily chart of which is shown, has taken a decidedly bearish turn after having reached and respected last week the top border of a key parallel downtrend channel extending from the April high. The high that was reached on last week’s turn was just above the 92.00 price region. In the process of making this bearish turn within the context of the overall downtrend, price action has made a tentative breakdown below a short-term uptrend line extending from the early … [visit site to read more]

Message To Visitors

Posted: 24 Feb 2010 06:37 PM PST

I’ve been approached in the past about speaking and consulting gigs, but other obligations have often precluded me from getting involved. However, I’ve recently wrapped up a time-consuming commitment and am open to discussing other possibilities. For those who are interested in thoughtful insights and the unadulterated truth, feel free to get in … [visit site to read more]
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