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- There's Nothing Worse Than Range-Bound Markets
There’s nothing worse than range-bound markets. They can suck you in long or short only to spit you back out with a series of small, if you’re lucky, losses. But, perhaps we’re moving back to the primary bear trend meaning the recent rally was an awakening [like the movie] that didn’t last.
PPI inflation data for July came in at 1.2% (annualized at, gulp, 14%) while consensus forecasts by economists [are they ever right?] were for only .3% but, there’s another story. Just as … [visit site to read more]
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Переслать - Tuesday US Stock Markets: Inflation And Housing Continues To Worsen
And if that was not bad enough we have word tonight that US consumers purchased fewer cell phones in the last few months. Oh no! Now that was the last straw
The Wall Street Journal is reporting tonight that cell phone purchases have fallen by 13% in the past quarter. How much more proof does one need in order to know the economy is in bad shape.
Tuesday’s housing starts was a … [visit site to read more]
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Переслать - Base Metal Prices Are Boosting ETFs
You could be carrying some of the day's biggest exchange traded fund (ETF) rallies right in your pocket.
Copper, nickel and other base metals surged today as the dollar weakened and oil prices crept back up, report Pratima Desai and Julie Crust for Reuters.
Nickel also rose 7.3% on news that Xstrata was suspending operations at its Falcondo ferronickel mining facility in the Dominican Republic. Nickel is mainly used in the production of stainless steel. One analyst says that because of … [visit site to read more]
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Переслать - Exceptions To The Rule
While most visitors to this site know of Nouriel Roubini, an economist who has not allowed bogus ivory-tower theories and masturbatory group-think to cloud his judgment about the state of the economy and where things are headed, he is not the only one with interesting things to say.
There are other individuals who practice the “dismal science” who have managed to stay ahead of the curve despite their training and background. The (very short) list includes people like Dean Baker, … [visit site to read more]
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Переслать - Energy Stocks vs. Financial Stocks
In spite of the recent selloff in the energy sector, most of these stocks are still trading with big gains on the year.
This stands in sharp contrast to stocks from the financial sector, which have suffered steep losses as big banks have been forced to liquidate assets and raise capital to support their balance sheets.
Because these two groups of stocks have functioned as polar opposites during this stretch, it has provoked many conversations about which is … [visit site to read more]
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Переслать - U.S. Slowdown Impact Felt In China
With the Beijing Olympics now more than half-way over, we wanted to get caught up with how the Chinese stock markets have been performing, especially in light of a slowdown in the U.S. market. Zacks senior analyst Paul Cheung, CFA was on hand with his thoughts.
Were there many surprises in quarterly earnings for Chinese companies under coverage?
By far most Chinese companies in my coverage performed as expected. Some Internet companies even announced … [visit site to read more]
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Переслать - Steel Dynamics: Value Stock Buy Alert
Steel Dynamics, Inc. (STLD) posted record second-quarter earnings of $1.05 per share in late July, citing strong shipments and higher selling values as catalysts. The earnings result more than doubled last year's 51 cents and exceeded the consensus estimate by 13%. The company also upped its full-year earnings guidance as did Wall Street.
Company Description
Steel Dynamics is the fifth largest producer of carbon steel products in the nation. The … [visit site to read more]
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Переслать - Inflation Is A Clear And Present Danger? No Way
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Could Hedge Funds' Stop Tripping Have Caused The Dollar Rally?
If you happen to be in need of Vaseline and find that your local pharmacy is sold out, never fear. Chances are, the entire stock has been purchased by your friendly neighbourhood hedge fund manager. If you ask nicely, perhaps he’ll let you borrow a tub or two.
One of the signal trends of the past month or so has been the sharp decline in the oil price. Part of this is likely attributable to the China/global growth slowdown theme that Macro Man has highlighted recently, and part of it is … [visit site to read more]
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Переслать - Dollar Gives Way As Traders Attempt A Short Squeeze Of The Euro
Tuesday has been a day of whipsaw moves in the forex markets. The US dollar initially gained against other major currencies like the Euro and Swiss franc, but then slipped with relative ease as trading progressed into the American afternoon on cue from the slumping US stocks, as well as traders attempting to drive a Euro short squeeze.
US July housing starts came as … [visit site to read more]
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Переслать - Home Sales Up 73% In Sacramento
Existing home sales in the Sacramento region increased in July for the 4th straight month and posted a 4th straight year over year increase. Existing home sales in July were 5% higher that June 2008 66% higher than July 2007. Homes sales have taken off since the spring, driven by falling prices of the large amount of foreclosed properties hitting the market. In some areas of Sacramento foreclosed properties make up to 80% of the sales.
As bankers cut prices to move the inventory, the median … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Fred's At Fair Value To $15
Fred's Inc. (FRED) reported solid second-quarter sales of $447 million, up 5 percent year-over-year, with comp-store sales growth of 4.9 percent. The company's sales growth indicates that Fred's continues to benefit from customers trading down to lower cost alternatives as well as the management's strategic efforts.
We increased our second-quarter EPS by $0.01 to $0.10, which is at the high end of the management's EPS guidance of $0.07-$0.10. For fiscal 2008, our … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Ultra Clean Carving A Niche
June quarter top and bottomline results for Ultra Clean Holdings, Inc. (UCTT) slightly missed consensus estimates. The company is expanding its product line to include frame assemblies, top plate assemblies and process modules.
The Seiger acquisition is progressing seamlessly and the company is transitioning several product lines to Shanghai. This has the effect of diversifying the revenue base as well as growing margins. Despite the progress, semiconductor weakness will … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Gold "Bubble" Burst?
Gold finished trading in New York yesterday at $800.50, up $14.50 and silver was up 33 cents to $13.19. Both gold and silver have again fallen in European trading. Gold is trading at $786.00/786.40 per ounce (1030 GMT).
Gold rebounded from very oversold levels yesterday but market weakness has resumed overnight in Asia and early in London as the dollar has continued to rally (reaching a 6 month high at 1.4631 to the euro). Speculative interest in the precious metals has fallen dramatically … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Tuesday: Daily US Stock Market Report
Is everybody on vacation? Where is the usual trading volume? Bankers, perhaps afraid their jobs might be soon terminated, must have taken holidays ahead of the upcoming write-downs of the dubious asset-backed commercial paper (ABCP).
A panel of Canadian appellate court judges ruled unanimously that despite the massive $32 billion fraud perpetrated by the banks in Canada, the buyers of the phony paper must accept the work-out plan and cannot sue the banks. Wow, what's next for Humungous … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Commodity ETFs Become Portfolio Staples
When it comes to commodity exchange traded funds (ETFs), choosing among the many available isn't always a simple task.
Investors have realized that prices for things like oil and corn can surge even as the rest of the market spoils. Ian Salisbury for The Wall Street Journal reports that many financial advisors are now keeping a small portion of investors' assets in commodities to smooth overall volatility in a portfolio.
But constructing an index of commodities can be a … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Tuesday: Daily Forex Analysis
Today's US Dollar Trading
• Greenback unable to extend gains
• Volumes light
• Big news out tomorrow may have sidelined tradersOvernight Preview
• Look for two-way action, consolidation
• Possible follow-on selling in Asia to startLooking Ahead
All times EASTERN (-5 GMT)
• 8:30am USD Building Permits
• 8:30am USD PPI m/m
• 8:30am USD Core PPI m/m
• 8:30am USD Housing … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - US Must Free Itself From Dependency On Russian Oil And Gas
The reality that's been revealed by Russia's Georgia adventure is captured in the following statement by Prof. Steven Blank at Penn. State: ""Russia's energy objective is to monopolize all Caspian energy flows to Europe, so that it can then blackmail Europe and force political changes to European policy," Prof. Blank said.
That is the new national security challenge presented by Russia that visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - U.S. Dollar And ETFs Doing So Well, It Brings Out Cynics
The dollar is regaining its health, as the rally goes on to another day, raising up the commodities markets and all focused exchange traded funds (ETFs).
But despite all the recent performance, today the dollar has taken a step back amid suspicion that its recent rally has been too quick to keep it up. Since hitting a record low in July, the U.S. dollar has gained 8.1%, report Ye Xie and Corell Eddings for Bloomberg.
On Friday, the greenback climbed to a two-year high against the British … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - American Oriental A Play On China
American Oriental Bioengineering, Inc’s (AOB) second-quarter financials were strong and exceeded our expectations. We expect the company to continue to deliver strong performance in the coming quarters due to relatively high growth in the Traditional Chinese Medicine (TCM) market in China. We maintain our Buy rating on the shares.
The company targets two rather large markets in China: the TCM pharmaceutical market and nutraceutical market. We view AOB as a China play stock … [visit site to read more]
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