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- Dancing With The Bear
Since hitting an all time high of 14279.96 on October 11th of last year, the Dow Jones Industrial Average (DJIA) will close the second quarter of 2008 officially having entered bear market territory–enduring a 20% decline. The broader market index–the Standard & Poors 500–is off 18.4% from its high on that date, while the Nasdaq Composite–which peaked later in October–has declined 19.4% from its most recent high and the Russell 2000 (small cap) index is off 19% from … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Stock Picks And Trade Ideas For Tuesday - PMCS, RFMD, BIDU, GOOG
Chart courtesy of stockcharts ( click to enlarge )
From my point of view I think Google (goog) may break down here. This stock is slowly but steadily coming down on each passing day. Up/Down volume pattern indicates that the stock is under Distribution. … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Monday's US Stock Market Summary
Have you ever had a mouse or other rodent die somewhere in your office or home? And you become aware of it by the smell? Well, that is what is happening in the financial sector. Something has died and the odor is spreading throughout the market. The market may not be able to put it's finger on who or what has died and is rotting away, but it is reacting by getting out of the way before the carcass shows up.
Numerous financial stocks sold down significantly today, Lehman … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Adjusted For Increases In Income & Fuel Efficiency, Gas Today Is Almost 50% Below Record High
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Dow in Bearish Territory And Oil Prices In The Stratosphere: New Potential Problems Abound
By William Patalon III
With the Dow Jones Industrial Average down 20% from its October peak - placing it firmly in bear-market territory after what’s so far been its worst June since the Great Depression - neither institutional traders nor individual investors seem able to find anything positive about the economy, corporate climate or financial markets.
The subprime-mortgage mess and the ensuing credit crisis continues to exact a toll on the financial-services … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Euro Rallies To Three-Week High Against US Dollar
In early Monday trading, the Euro continued to bob along the bullish wave that brought it to a three-week high of 1.5840 against the US dollar, before retreating back below 1.5780. Oil again rallied to another record high of $143.67 per barrel, so where else could the dollar go? Today’s Chicago PMI manufacturing showed some improvement in the Chicago area, posting a reading of 49.6, still in contraction territory but at least not as bad as the previous month. This may stem the fall of the … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Monday: Daily Forex Analysis
Overnight Asia/Europe
• USD starts firm, weakens into Europe
• Stops triggered on the way down
• Traders report good volumeToday's Economic Reports
All times EASTERN (-5 GMT)
• 9:45am USD Chicago PMILooking Ahead to Tuesday
All times EASTERN (-5 GMT)
• 10:00am USD ISM Manufacturing Index
• 10:00am USD ISM Manufacturing Prices
• 10:00am USD Construction Spending m/m
• Tentative USD Domestic Vehicle … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Wind And Solar Will Spur Natural Gas
The price of natural gas in the U.S. has about doubled in a bit less than a year despite the fact that U.S. production has actually increased about 5% due in part to new horizontal drilling techniques being applied to recently developed vast "unconventional" gas fields in the U.S. and Canada like Haynesville. So it might seem like the price of gas has gotten ahead of fundamentals. But there are good reasons to be bullish about gas prices longer term.
Natural gas is inherently cheap … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Could Venezuela Change Its Mind On Mining?
Mid-May 2008, all looked grim for shares of Crystallex (KRY), as Venezuela pulled the plug on the company’s Las Cristinas property. Production was expected to begin there by 2009.
At the time, Venezuela refused to grant a permit to KRY for the Las Cristinas mine after deciding not to grant licenses for open-pit mining for gold, diamonds and coal. Instead, they opted to step up oversight on the mining industry. Citing ecological damage for the move, Venezuela dashed KRY’s hopes to mine … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - I've Still Got Chills From The Real Estate Market
I have to admit that I appreciate a good horror story. Stephen King and all that. But that doesn’t mean I’m not occasionally feeling the effects afterward. Not that I can’t sleep or anything. But the chills sometimes linger for a while.
The one thing that tends to make these stories easy to get over is the knowledge that they are just that — stories. Fiction. The product of somebody’s imagination (or maybe his or her nightmare — who knows?)
But the same doesn’t hold true when I hear … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Lennar: Homes For The 20th Century
Yesterday, I attended a grand opening at a Lennar (len) site in the desirable locale of Jupiter, Florida. A very large development of several hundred acres was being shown to the public for the first time. Even Radio Disney was present (the kids brought the parents - good marketing ploy). A catered lunch was provided and the well-trained and readily accessible Lennar staff was both in the model home and in the blazing heat at high noon ready to pitch the homes to be built. I … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Oil Refinery Goes Bargain Hunting
While it sounds opportunistic, many investors think that the best time to invest is when there is 'blood in the streets'. One industry that has been absolutely crushed is the oil refinery business. With prices of crude oil reaching record high levels daily, refiners are feeling the squeeze. That's why it's interesting that the Israeli refiner Delek US (DK) is reportedly looking to make acquisitions in the range of $1 billion.According to a report in the Israeli daily, … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Performance Of Wilshire Banking Index vs. Tech Crash Era NASDAQ
Here is an interesting graphic from Friday's WSJ depicting how the decline of the Wilshire Bank Index closely mirrors the drop in the NASDAQ after the tech bust.
Graphic courtesy of the WSJ
While similar looking charts aren't definitive as far as saying one index will necessarily act like another, they are useful … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
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