Apr 1, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

If The Government’s Indeed Manipulating Gold, Gold Will Probably Rise To $10,000

Posted: 01 Apr 2010 03:40 AM PDT

We’ve been having quite the discussion about manipulation on the blog lately. For what it’s worth everyone can believe what they want to believe. What I do know is that no amount of manipulation can stop a secular trend. I think Greenspan and Bernanke have proven that fact explicitly. Between the two of them they have printed literally trillions and trillions of dollars in a vain attempt to halt the bear market. It hasn’t worked and it’s not going to work. All its done is make our … [visit site to read more]


The Current Influence Of The Stock Market On Gold Prices

Posted: 01 Apr 2010 03:01 AM PDT

In our previous essay we explained the link between the USD Index, and the price of gold and commented on what how is the situation on the USD likely to influence the precious metals market. This week, we would like to comment on the second driver of the PM prices - the general stock market. Much has been written lately how overvalued are the main stock indices at the moment, and how bad it is for the PM sector. Naturally, everyone has the right to believe that market is going to go in … [visit site to read more]

Forex Trading: Eur/Chf Makes New Record Low

Posted: 01 Apr 2010 02:07 AM PDT

Eur/Chf  has made a new record low of 1.4184. Chf strength has been seen during the session after the release of strong PMI figures. This adds more credence to the idea that the Swiss National Bank may raise rates before any move is made by the … [visit site to read more]

The Third (And Wildly Bullish) Scenario For Gold And Gold Stocks

Posted: 01 Apr 2010 02:01 AM PDT

In the article I wrote on March 22 (”When it Breaks, It’s Going Somewhere in a Hurry”), I stated that there were two downside possibilities for the price of gold, with the bearish move to at least $950 being the most likely, and the move down to $650 being second most likely.

I also mentioned that there was a third possibility, and that the price of gold could move very rapidly to new highs somewhere around the $1325/oz level by the end of the year.

Needless to say, I received a flood of … [visit site to read more]

Forex Trading: Eurozone Final Manufacturing PMI

Posted: 01 Apr 2010 01:05 AM PDT

Eurozone Final Manufacturing PMI came in at 56.6, skightly stronger than the 56.3 expected.
No major affect from figure, as Eur/Usd continues to trade around … [visit site to read more]

Homeowners Gaming Uncle Sam’s Mortgage Modification Program

Posted: 01 Apr 2010 01:01 AM PDT

A new release by the SIGTARP (Office of the Special Inspector General for the Troubled Asset Relief Program) is exceptionally enlightening in detailing how a likely significant percentage of those homeowners who entered the trial mortgage modification process gamed the system.

Once again, major high five to our friends at 12th Street Capital for sharing this report and providing insightful commentary. As 12th Street points out Wednesday morning:
With all of the hoopla surrounding the … [visit site to read more]

Video: Ford And Microsoft Team Up For EV Charging

Posted: 01 Apr 2010 01:00 AM PDT

Ford Motor Co. and Microsoft Corp. are joining forces to help optimize charging for electric and hybrid vehicles. … [visit site to read more]

Canada Leads USA In Housing Market Recovery

Posted: 01 Apr 2010 12:01 AM PDT

Canadian home prices in January were up 7.5% from a year earlier, according to the Teranet-National Bank National Composite House Price Index (see top chart above), which was released Wednesday. January was the fourth consecutive month in which prices increased from a year earlier, after 10 consecutive months of 12-month deflation. The turnaround is due to nine straight monthly increases in the countrywide index (see bottom chart above) that followed eight straight monthly … [visit site to read more]

Mr. Hu, Tear Down This Wall!

Posted: 31 Mar 2010 11:01 PM PDT

Over two thousand years ago, China began to build its Great Wall in order to keep nomadic tribes and marauding armies from crossing its borders. In the last few decades, China has built another protective barrier, a ‘Great Firewall,’ to keep socially disruptive web content from reaching its citizens. American companies have long acquiesced to this censorship charade in order to have access to China’s booming online market.

Last week, Google (NASDAQ:GOOG) changed its mind, shutting down its … [visit site to read more]

What’s Killing The Grain ETF (JJG)?

Posted: 31 Mar 2010 11:00 PM PDT

After falling off a cliff when the global economy began to sputter in late 2008, most commodities enjoyed a relatively strong recovery throughout the final three quarters of 2009. But when the calendars turned to 2010, fortunes reversed and natural resources began to slide, as a stronger dollar and weakening demand weighed on prices. While all types of commodities have seen a poor start to 2010, few have been as hard hit as agricultural commodities, which are down sharply across the board. One … [visit site to read more]

Global Shipping Rebound Gains Steam, Leading To Shipping Delays, Shortages Of Container Ships

Posted: 31 Mar 2010 10:01 PM PDT

I’ve had a couple of persistent requests for updates on global shipping trends, so here is a summary of recent news:

1. Packed Containers Piling Up At Asian Ports Because There’s Too Much Demand From West - “Packed containers are piling up at Asian ports as strong demand from the U.S. and Europe causes a lack of supply of ships. Shipping companies had purposefully idled capacity during the economic downturn, then started to bring it back recently. Yet they didn’t do it fast enough to … [visit site to read more]

Prudential’s Proposed Buyout Of AIG’s AIA Hits The Rock

Posted: 31 Mar 2010 09:11 PM PDT

Prudential PLC’s (NYSE:PUK) much-ballyhooed buyout of American International Group Inc.’s (NYSE:AIG) Asian insurance-unit - AIA Group Ltd. may be on the rocks as the U.K. insurer’s shareholders balk at the price.

The proposed buyout calls for Prudential to hand over $35.5 billion to U.S. government-owned AIG.   But Prudential’s biggest investors are resisting the deal because they believe the company is paying an overly rich premium for AIA, according to sources cited by the New York Post. … [visit site to read more]

Stock And Forex Market Review For March 2010

Posted: 31 Mar 2010 09:01 PM PDT

The 1st quarter 2010 returns are now in the books.

The Euro continued to lag given problems in the Euro-zone. That development supported our greenback:

The commodities index has given a little ground, but in the midst of that oil and copper have outperformed:

Although the equity markets started the year off on a rough note, the returns for the last two months have been impressive, albeit on generally light volume:

Bonds gave ground but remain within the trading … [visit site to read more]

Obama To Bolster Oil & Gas Sector - Which Companies Will Benefit?

Posted: 31 Mar 2010 08:15 PM PDT

In an attempt to increase the nation’s energy independence, President Obama recently announced plans for an expansion of U.S. offshore oil and gas drilling paving the path to prosperity for some.

More specifically, President Obama openly stated that he would consider new areas for drilling off the shores of Virginia and Florida, parts of Alaska and in the Gulf of Mexico.

As for Virginia, the Interior Department estimates that the proposed leased area holds nearly 130 million barrels of … [visit site to read more]

Gold & Indexes Melt Up Into Earnings?

Posted: 31 Mar 2010 08:01 PM PDT

Gold and the stock market continue to trade within a tight range this week. While the long term trend for both stocks and metals are up, and the charts look bullish I am not buying at this level because the market is over bought.
Chasing prices higher especially after a run this large is not the right move in my opinion. I did mention last week that we could see stocks continue to grind higher going into earning season which is about 2 weeks away still. I think that could happen, and if the … [visit site to read more]

Stock Picks For Thursday 1 April: Plug Power, Banner Corporation, FreshWater Technologies, Cord Blood America

Posted: 31 Mar 2010 07:34 PM PDT

( click to enlarge )

Banner Corporation (NASDAQ:BANR) was one of the few stocks that ended higher on Wednesday. I’m watching the stock on Thursday for a continuation move. Resistance for this move is $4, which reflects Thursday’s high of the day. If BANR does break resistance, I expect to see the stock move very quickly. Keep a close eye on BANR for Thursday.

( click to enlarge )

Plug Power (NASDAQ:PLUG) - Nice rebound Wednesday with bad market, lets see where it goes Thursday. The … [visit site to read more]

Computers Just Keep Getting Cheaper And Better And We Should Eagerly Await The Days Ahead

Posted: 31 Mar 2010 07:01 PM PDT

Craig Neumark points to a great website “Classic PCs vs. New PCs: Their True Cost Doing the math makes technology’s relentless progress even more amazing,” where they compare the costs and specifications of various computers from the 1970s and early 1980s to today’s computers.

One example is illustrated above: a 1984 Apple Macintoch vs. a 2009 Apple iMac. Adjusted for inflation, today’s Apple iMac is 26% cheaper ($3,849) than the 1984 Macintosh ($5,186). Measured in the number … [visit site to read more]

Video: The Day Ahead: ISM Manufacturing

Posted: 31 Mar 2010 07:00 PM PDT

The stories, data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]

Safety Last?

Posted: 31 Mar 2010 06:34 PM PDT

Is anyone surprised by this?

“Speeding ‘Cushion’ May Dwindle Due to Recession” (USA Today)
The recession may be claiming a new victim: the 5-10-mph “cushion” police and state troopers across the USA have routinely given motorists exceeding the speed limit.
As cities and states scramble to fill budget gaps with revenue from traffic citations, “not only are the (speeding) tolerances much lower, but the frequency of a warning instead of a ticket is way down,” says James Baxter, president of the … [visit site to read more]

Singapore Stock Market Update For Thursday 01 April

Posted: 31 Mar 2010 06:32 PM PDT

Morning Highlights
Singapore shares opened higher, with the STI up 11.3 points to 2,898.76. It is now trading above 2900.
Japanese stocks also pulled higher as helped by improved results in the Bank of Japan’s tankan business sentiment index, with some auto shares rising ahead of U.S. sales numbers and with Dai-ichi Life making its market debut.

NOL broke high of 2.03

TTJ opened underwater at 0.19

 Corporate Announcements:

Noble Group announced that Peabody Energy has submitted a … [visit site to read more]
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