Daily Markets - Financial News And Opinions |
- Australian Dollar: Bounce
- Canadian Dollar: Bounce
- Tax Deeds Sales - Secretly Buying Cheap As Developers Go Bust
- Forex Trading: EURCHF Moves To The SNB Worry Level
- Initiating St. Mary At Underperform
- Silver, Palladium Slides
- Forex Trading: GBPUSD Tests Its 200 Hour MA Now
- Bust Up The Health Insurance Trusts
- Video: NYSE Opening Bell Market Monitor: TOL, SJM, TRI
- Concerns Over Avandia Hurt GSK
- Forex Trading: EURUSD Moves Up To 200 Hour MA. Support At Old Resistance At 1.3595
- Morning News Notes: 2/24/2010
- Forex Trading: USDJPY Moves Lower On Weaker Data And Fed On Hold
- Ev3 Reports In-Line
- Video: Asian Markets Take A Tumble
- Fundamentals Take A Back Seat As Oil Prices Hover Near $80
- Google’s Legal Troubles With EU
- Forex Trading: EURUSD Falls On Housing Then Rises On Bernanke. Now In The Middle
- Onyx Reports Higher Revenues
- Forex Trading: EURUSD Moves Above The Topside Resistance Prior To Fed’s Bernanke
- Washington Federal Upgraded
- Emerging Global Launches Brazil Infrastructure ETF (BRXX)
- BioMarin Tops Zacks Estimate
- Forex Trading: USDJPY Remains Around The 100 Day MA At 90.16.
- Swiss Franc: Continuation Of The Rebound
- Japanese Yen: Rebound Expected
- British Pound: The Upside Prevails
- Euro: The Upside Prevails
- Catalyst Health Reports In Line
- Home Depot And Lowe’s Laying The Foundation For Economic Recovery With Little Help From The Housing Market
- Stock Market News Briefs: J.M. Smucker Company (The), Nicor Inc., Zale Corporation, Garmin Ltd.
- BofA OK’d To Raise Common Shares
- Forex Trading: GBPUSD Also Laying The High/low Levels Pre-Bernanke
- A Deluge Of Homeowners Underwater
- UK House Prices To Fall Further?
- Forex Trading: EURUSD Holds The Support. Now It Is Off To Resistance At 1.3568> Fed’s Bernanke Awaited.
- Mutual Funds: Top 5 Technology Funds
- Stock Buy: Cato Corporation
- Stock Buy: Bed Bath & Beyond, Inc.
- Stock Buy: MAXIMUS Inc
- Stock Buy: Career Education Corporation
- Bull Of The Day: Ameriprise Financial (AMP)
- Bear Of The Day: Tetra Tech, Inc. (TTEK)
- Treasury Bonds: The Correct Play Is To Be Long
| Posted: 24 Feb 2010 08:18 AM PST |
| Posted: 24 Feb 2010 08:18 AM PST |
| Tax Deeds Sales - Secretly Buying Cheap As Developers Go Bust Posted: 24 Feb 2010 08:17 AM PST By Dr. Steve Sjuggerud I’m investing in properties at cheaper prices than I ever thought possible… I’m buying “secretly.” These properties aren’t listed on MLS, and your realtor won’t show them to you. But they can be some of the best deals you’ll ever see. Most people will never see them, because they don’t know where to look. They’re properties sold by the government to collect back taxes. I’ve already done this in Florida. Earlier this week, I went to a few county courthouses in … [visit site to read more]
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| Forex Trading: EURCHF Moves To The SNB Worry Level Posted: 24 Feb 2010 08:10 AM PST 1.3630 is the level where the SNB has been in the market in the past. The market is testing the level. Be … [visit site to read more]
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| Initiating St. Mary At Underperform Posted: 24 Feb 2010 08:01 AM PST We recently initiated coverage on St. Mary Land & Exploration Co. (NYSE:SM) with an Underperform recommendation and a target price of $30. St. Mary is an independent oil and gas company engaged in the exploration, exploitation, development, acquisition and production of natural gas and crude oil in North America. The company witnessed a 13% decrease in production volumes in the fourth quarter. However, it managed to report better-than-expected earnings on the back of improved … [visit site to read more]
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| Posted: 24 Feb 2010 07:56 AM PST As with other risky assets, the two-week rally in silver reversed course yesterday. As a matter of fact, the price ($15.67) declined to below its 200-day moving average ($16.00), having already breached the 50-day line in mid-January ($16.96). Looking at the broader precious metals complex, yesterday also witnessed a key day reversal of palladium. Not a good sign, at least not for the near term.
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| Forex Trading: GBPUSD Tests Its 200 Hour MA Now Posted: 24 Feb 2010 07:56 AM PST Level comes in at 1.5469. Watch downside support at 1.5451 which was the NY high prior to the last move higher and at 1.5441 which is the 200 bar MA on the 5 mnute chart. The market is gyrating as it figures out where it wants to go. Overall the comments from Bernanke are indicative of steady rates and crosswinds from commercial real estate, lending, housing, and … [visit site to read more]
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| Bust Up The Health Insurance Trusts Posted: 24 Feb 2010 07:52 AM PST Years ago I worked at an agency in Washington called the Federal Trade Commission. The FTC predates the New Deal. It was set up in 1914 during the administration of Woodrow Wilson, at a time when many of America's industries had combined into giant trusts that had enormous market and political power. The FTC was designed to root out such unfair practices. It ought to take on the health insurance trusts.
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| Video: NYSE Opening Bell Market Monitor: TOL, SJM, TRI Posted: 24 Feb 2010 07:50 AM PST The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more]
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| Concerns Over Avandia Hurt GSK Posted: 24 Feb 2010 07:46 AM PST GlaxoSmithKline (NYSE:GSK) recently issued a statement regarding the findings of a Senate Committee on the company’s diabetes drug Avandia. The company stated that the conclusions drawn by the Committee on the safety of Avandia are based on analyses that are not consistent with the scientific evidence supporting the safety of the drug. According to the report issued by the Committee, Glaxo was aware of the potential heart risk associated with the use of Avandia before this information … [visit site to read more]
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| Forex Trading: EURUSD Moves Up To 200 Hour MA. Support At Old Resistance At 1.3595 Posted: 24 Feb 2010 07:44 AM PST |
| Posted: 24 Feb 2010 07:41 AM PST The “Morning News Notes” as prepared by TL…the S&P Case Shiller Home Price Index, loan demand for homes, Greece, short selling rules changes?, and Volcker rules. Just click on the link or the coffee mug below. “Morning News Notes”: February 24, … [visit site to read more]
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| Forex Trading: USDJPY Moves Lower On Weaker Data And Fed On Hold Posted: 24 Feb 2010 07:36 AM PST The USDJPY fell on the weaker housing data, putting some room in between the price and the 100 day MA at the key 90.16 level. The move down exrtended to 89.76. The next downside target extends to the 89.57 level which was a floor level before the market moved higher on February 12th. On the topside, the price should stay below the 90.00 level. A move back above the 90.16 level (100 day MA would muddy the waters for the bears and put the market back in a neutral stance as it decides … [visit site to read more]
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| Posted: 24 Feb 2010 07:30 AM PST ev3, Inc. (NASDAQ:EVVV) recently reported fourth quarter and full fiscal 2009 results. For the fourth quarter, earnings per share were 12 cents, in line with the Zacks Consensus Estimate and higher than the year-ago loss of 2 cents. For fiscal 2009, earnings per share were 40 cents, higher than the loss of 45 cents in the year-ago quarter.
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| Video: Asian Markets Take A Tumble Posted: 24 Feb 2010 07:24 AM PST The major Asian/Pacific markets were well on the downside this session following steep declines in domestic shares. … [visit site to read more]
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| Fundamentals Take A Back Seat As Oil Prices Hover Near $80 Posted: 24 Feb 2010 07:17 AM PST Fundamentals
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| Google’s Legal Troubles With EU Posted: 24 Feb 2010 07:15 AM PST Search giant Google Inc. (NASDAQ:GOOG) is facing increasing tensions in Europe, as the company's actions are now being scrutinized by the European Union's competition council. The EU probe follows three separate complaints by ejustice.fr (a French legal search engine), Foundem (a UK-based price comparison venture, which is a member of Microsoft (NASDAQ:MSFT)-funded organization called ICOMP) and Ciao! (a product review and price comparison site that is a Microsoft subsidiary).
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| Forex Trading: EURUSD Falls On Housing Then Rises On Bernanke. Now In The Middle Posted: 24 Feb 2010 07:09 AM PST The market dipped to support on the weak housing then rose on the Bernanke comments to the first upside resistance target. The low reached 1.3542, just above the 1.3539 support area. The upside spiked up to 1.3595, a pip higher than the 50% target. The correction off the high came down to 1.3569 which is the 100 hour MA support. All levels remain in … [visit site to read more]
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| Posted: 24 Feb 2010 07:00 AM PST Onyx Pharmaceuticals (NASDAQ:ONXX) has reported a fourth quarter loss of 9 cents per share, much better than a loss of 53 cents reported in the year-ago period. However, after adjusting non recurring items and treating stock-based compensation as a regular expense, the company reported earnings per share (EPS) of 4 cents compared to 7 cents in the fourth quarter of 2008. The Zacks Consensus Estimate for the reported quarter was 22 cents.
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| Forex Trading: EURUSD Moves Above The Topside Resistance Prior To Fed’s Bernanke Posted: 24 Feb 2010 06:52 AM PST The EURUSD can't wait and is breaking above the resistance ceiling at the 1.3568/70 level. The market seems to be discounting a scenario where the Fed Chairman will be more dovish. The stock market up 70 points is also helping prior to the headlines at 10:00. Support now comes in at the 1.3564 level. If this level can hold the downside the price has the potential to extend … [visit site to read more]
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| Posted: 24 Feb 2010 06:45 AM PST We are upgrading our recommendation on Washington Federal Inc. (NASDAQ:WFSL) to Neutral from Underperform.
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| Emerging Global Launches Brazil Infrastructure ETF (BRXX) Posted: 24 Feb 2010 06:45 AM PST A week after launching the China Infrastructure ETF (CHXX), Emerging Global Advisors introduced the Brazil Infrastructure ETF (BRXX) on Wednesday. BRXX is the first exchange-traded product to offer sector-specific exposure to Brazilian equity markets, and will seek to replicate the performance of the INDXX Brazil Infrastructure Index. This benchmark is a free-float capitalization weighted benchmark consisting of 30 companies deemed to be representative of Brazil's infrastructure … [visit site to read more]
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| Posted: 24 Feb 2010 06:30 AM PST BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) reported fourth-quarter 2009 earnings of 13 cents per share (excluding special items), beating the Zacks Consensus Estimate of break-even earnings. The company had earned 8 cents (excluding special items) in the year-ago quarter.
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| Forex Trading: USDJPY Remains Around The 100 Day MA At 90.16. Posted: 24 Feb 2010 06:26 AM PST The USDJPY remains around the 100 day MA as the market non-trends. Of course, non-trending markets transition into a trend, so we will be looking for the possibility of a break and trend type move up or down today. Looking at the shorter term 5 minute chart, the 100 and 200 bar MA are at the 90.15 and 90.17 levels respectively. The convergence of price and the 2 moving averages are another clue the market is non-trending . This is what we call Three's … [visit site to read more]
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| Swiss Franc: Continuation Of The Rebound Posted: 24 Feb 2010 06:18 AM PST |
| Japanese Yen: Rebound Expected Posted: 24 Feb 2010 06:18 AM PST |
| British Pound: The Upside Prevails Posted: 24 Feb 2010 06:18 AM PST |
| Posted: 24 Feb 2010 06:17 AM PST |
| Catalyst Health Reports In Line Posted: 24 Feb 2010 06:15 AM PST Catalyst Health Solutions, Inc. (CHSI) reported fourth-quarter 2009 earnings of 41 cents per share, in line with the Zacks Consensus Estimate. The company earned 33 cents in the year-ago quarter.
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| Posted: 24 Feb 2010 06:01 AM PST The housing market that was at the epicenter of the financial crisis has yet to approach a full-fledged recovery, but that hasn’t stopped the nation’s two biggest home-improvement retailers from rebuilding. The Home Depot Inc. (NYSE:HD) and Lowe’s Cos. Inc. (NYSE:LOW) both topped analysts estimates in the fourth-quarter, as more Americans undertook “do it yourself” projects and edged back into purchases of big-ticket items. Home Depot’s total revenue for the quarter ended Jan. 31 fell to … [visit site to read more]
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| Stock Market News Briefs: J.M. Smucker Company (The), Nicor Inc., Zale Corporation, Garmin Ltd. Posted: 24 Feb 2010 06:01 AM PST Garmin (NASDAQ:GRMN) posted quarterly earnings of $1.43 per share, up from estimates of 95 cents, on revenues of $1.06 billion, ahead of $956 million projections. The company said it sees full-year earnings of $2.75 to $3.15 a share Nicor Gas (NYSE:GAS) reported fourth quarter earnings of $1.21, versus estimates of $1.03, on revenues of $768.1 million, which missed projections of $928 million JM Smucker (NYSE:SJM) beat estimates with fiscal third quarter results of $1.17 a share, … [visit site to read more]
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| BofA OK’d To Raise Common Shares Posted: 24 Feb 2010 06:00 AM PST Bank of America Corp. (NYSE:BAC) shareholders on Tuesday approved the company's intention to lift its number of common shares to 11.3 billion from 10 billion. The bank felt it necessary to increase its outstanding share-count to issue new stock to raise capital for the purpose of paying back its TARP loan.
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| Forex Trading: GBPUSD Also Laying The High/low Levels Pre-Bernanke Posted: 24 Feb 2010 05:29 AM PST The GBPUSD is buying time between support and resistance as Bernanke is awaited. The topside has the 100 hour MA at the 1.5472 and the downside has trendline support at the 1.5411 level. Above the 100 hour MA (blue line in the chart above), the 1.5531 level and then 1.5556 become confirming levels of the bullish trend. These levels were key levels going back to beginning of February (see chart below) On the downside, the 1.5380 level and the 1.5354 price help to confirm further … [visit site to read more]
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| A Deluge Of Homeowners Underwater Posted: 24 Feb 2010 05:27 AM PST First American Core logic just released its report on the number of homeowners who are underwater on their mortgages. The storm waters continue to rise. In all, more than 11.3 million, or 24 percent, of all residential properties with mortgages, were underwater at the end of the fourth quarter of 2009, up from 10.7 million or 23 percent at the end of the third quarter of 2009. An additional 2.3 million mortgages were approaching negative equity at the end of last year, meaning they had less … [visit site to read more]
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| UK House Prices To Fall Further? Posted: 24 Feb 2010 05:01 AM PST I am moving at the end of this week, so this latest bit of news is not good for those of us hoping to get rich out of living in our houses (this comment is aimed at winding up Mark Wadsworth). Effecitvly the rate of mortgage lending, always low at this time of year, has fallen to an eight and a half year low. Always remember with an expanding population and more houses being built every year this is quite a reduction in real terms activity. So why does this point to falling prices? … [visit site to read more]
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| Posted: 24 Feb 2010 04:54 AM PST The 1.3531-39 level is support for the EURUSD and it held on the early NY dip. The topside is the 100 hour MA at the 1.3568 level currently. A break above or below either level should lay the groundwork for the bias in NY. On a break above the target becomes 1.3594 and then the 200 hour MA at the 1.3607 (green line in the chart below). On the downside, a break of the 1.3531-39 level has trendline support at the 1.3517 on the 5 minute chart and then the low for the week … [visit site to read more]
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| Mutual Funds: Top 5 Technology Funds Posted: 23 Feb 2010 10:34 PM PST With the growing importance of technology in our lives, the future prospects of this sector seem all the more promising. The phenomenal growth of technology funds during the late nineties and their rapid decline during the meltdown that followed has led some investors to view these funds with a certain amount of skepticism. Yet for investors, looking for long-term aggressive growth, technology funds could be a prudent choice and should continue to be so in the future.
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| Posted: 23 Feb 2010 09:00 PM PST The Cato Corp. (CATO) should continue to benefit from frugal consumers.
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| Stock Buy: Bed Bath & Beyond, Inc. Posted: 23 Feb 2010 09:00 PM PST Bed Bath & Beyond, Inc. (NASDAQ:BBBY) recently rebounded from a key trend line to move back within striking distance of the 52-week high on the heels of the company’s better expected Q3 results from early January.
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| Posted: 23 Feb 2010 09:00 PM PST MAXIMUS, Inc. (NYSE:MMS) shares are soaring after the latest earnings news, which included revised guidance.
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| Stock Buy: Career Education Corporation Posted: 23 Feb 2010 09:00 PM PST Career Education Corporation (NASDAQ:CECO) continues to make the rotten economy work in its favor as revenue and student population jumped by double digits in 2009. CECO has a price-to-book ratio of 2.53.
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| Bull Of The Day: Ameriprise Financial (AMP) Posted: 23 Feb 2010 09:00 PM PST We are upgrading our recommendation on Ameriprise Financial (NYSE:AMP) to Outperform from Neutral. The company’s fourth quarter earnings came in substantially ahead of the Zacks Consensus Estimate, aided by strong top-line growth and expense management.
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| Bear Of The Day: Tetra Tech, Inc. (TTEK) Posted: 23 Feb 2010 09:00 PM PST We are downgrading our recommendation on Tetra Tech, Inc. (NASDAQ:TTEK) from Neutral to Underperform with a $19 target price.
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| Treasury Bonds: The Correct Play Is To Be Long Posted: 23 Feb 2010 08:46 PM PST Over the past many months, I have spent much time on this blog writing about US Treasury bonds. Treasury bonds have become a tale of two diverse stories, and both stories have the potential to be secular or generational in nature. The case for higher yields or lower Treasury bonds goes something like this: 1) higher yields are expected as the recession ends and the economy picks up steam; 2) higher yields are expected as the Federal Reserve maintains a loose monetary policy beyond all … [visit site to read more]
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