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- Update On S&P 500: Watch The Lower Triangle Line
The market continues its downward momentum. The triangle pattern that I have charted for you in previous posts is still “in play”.
Watch for the S&P 500 (^GSPC) to react with the lower line on the chart shown below. We either bounce, fail, or bounce and come back and fail it on another test. The important thing to keep in mind here is a failure of the lower line to provide support. Triangles don’t always have to resolve on 5 points (text book triangle). It could bounce from the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. 
Переслать - The U.S. Recession Will Be Painful – But It Could've Been Much Worse
The U.S. economy is entering a recession. With each day that passes and each indicator we see, that eventuality becomes more and more clear.
Even so, we can take some real comfort in knowing that we’re likely going to avoid the “bottomless pit” of a Great Depression II. A substantial recession with accompanying inflation - roughly along the lines of the downturns of 1974 and 1980-82 - seems the most likely scenario we face.
The last two U.S. recessions - the 1990-91 downturn touched … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Jim Rogers: Paulson And Bernanke Should Resign
Stocks are gyrating even more than currencies. At least the US dollar’s strength has been consistent throughout all the crisis. Stocks on the other hand are going up, down, up, down, or up, up, down, down - basically any combination goes. People want quick solutions, naturally, and the US government is seen scrambling for one band-aid here and another there, bowing to pressure from monied buddies (read: big bank executives). US stocks are under pressure from poor earnings reports and risk … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Earnings Reports Fire Up ETF Investors' Nerves
Wall Street and exchange traded funds (ETFs) are feeling woozy this morning after a slew of less-than-stellar earnings reports. Now that credit markets are improving, the focus is turning to the corporate earnings that have been issued in recent days, many of them heightening fears of a deep recession.
Hundreds of companies will be releasing their numbers for the third-quarter and in some cases, they will be making fourth-quarter forecasts, says Tim Paradis for the Associated … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Warning Of UK Recession Pulls British Pound To 5-Year Low Against US Dollar
The forex markets are feeling another round of aftershocks caused by the ongoing economic and financial crisis. The British pound and the Euro plunged yesterday (Tuesday) and today against the US dollar after renewed fears of a global recession caused traders to unwind more of their positions in the carry trade which is now dead. Of course, massive hedge fund redemptions are also playing a big role in The Great Unwind. Recession fever has spread from the US to Europe - the threat of a looming … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Untapped Potential: Southwestern Energy
Warning: If you don’t like to read about moderately speculative high growth stocks in a volatile sector, I recommend turning around and checking out another article about a “safe” stock (I doubt there is such a thing as a safe stock in this market). Many investors are worried about their equity holdings right now but prudent investors should be gearing up to open new positions. A wise investor named Warren Buffet once said, “be fearful when others are greedy and greedy when others are … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Xilinx Has The Hook-Up
Xilinx (XLNX) designs and manufactures a broad range of high-performance, high-density programmable logic devices (PLDs) such as field-programmable gate arrays and complex-programmable logic devices. A programmable logic device is an integrated circuit that can be programmed in a laboratory to perform complex functions. These logic devices are used to direct signal traffic within a digital system. Equipment manufacturers across a wide range of industries employ PLDs in their … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - 1 Of 3 States Have Jobless Rates Below 5%
The September unemployment rate for the U.S. is 6.1%. For individual states, the jobless rate ranges from a low of 3.2% in South Dakota (shortest bar above in graph), to a high of 8.8% in Rhode Island (tallest bar above in graph). Michigan at 8.7% in September is finally not the #1 state in the country for the first month in a long time. Some interesting facts:
By state (without adjusting for population), the mean (average) state unemployment rate is 5.63% and the median state … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - 3-Month Libor Drops Again - 8 Days In A Row
This is a good sign. The reason being suggested for the drop in Libor is that the USA has made $540bn available to money market funds. The government has been buying commercial paper from the money market funds to help them meet redemptions. In a free market economy, typically rates on commercial paper would be rising at a rapid rate. The increases in rates would compensate investors willing to take the risk of owning the commercial paper money markets. The government … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - S&P Dividend Aristocrats Outperforming The Markets This Year
The Standard & Poor’s maintains several dividend indexes containing some quality large cap stocks for aspiring dividend investors.
The indexes are:
- The S&P Dividend Aristocrats Index which measures the performance of S&P 500 index constituents that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years. You could view the current list of components of the Dividend Aristocrats index from this page. This index is reviewed … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Pre US Market: Futures Drop
Pre market futures tell us that the markets will open down significantly. What happens once trading gets going is still the big question.
The chart below shows that the S&P futures have dropped overnight and are currently very close to a Fibanocci support level.
The lower triangle line is in the area of 900, a break below that level then what I described in last night’s market summary becomes closer to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - EUR/USD Currency Pair Nosedives
This is an amazing story too, in case you haven’t noticed. The Euro has been destroyed recently against the USD. The rally in the US dollar, in 3 days has been over 700 pips versus the Euro. This is destruction! 135 to 128….Wow. When you think that things can’t fall anymore and then they do, watch … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Bearish Sentiment On Gold: A Good Contrarian Indicator?
COMEX gold continues to stink up the room after sharp falls in recent days as the dollar has strengthened considerably and oil prices fallen sharply. The technical damage sustained to COMEX gold has been severe and chart watchers are now tentatively looking to support at $750/oz.
Meanwhile the COMEX gold price is becoming less important to the setting of the physical gold bullion price internationally as shortages lead to much higher premiums being paid (both by buyers and sellers as … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Weekly Review Of New Energy Global Innovation Index
Each week I provide a review of the previous week’s performance of the WilderHill New Energy Global Innovation Index, symbol NEX. This information is provided by New Energy Finance. The NEX consists of about 90 stocks from 20 countries in seven sectors and is the bogey for the PowerShares Global Clean Energy Fund (PBD). These results are for the week ending on Friday or maybe Monday.
Last week I noted the unusual tactic of New Energy Finance to include the next Monday’s results with … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Merck Misses, Slashes Jobs
Following a general trend of large U.S. companies missing quarterly earnings and compounding the misery by announcing significant job cuts, New Jersey-based Merck & Co. (MRK) reported 3rd quarter 2008 earnings of 51 cents per share, missing the Zacks consensus of 79 cents. The Big Pharma company also announced it will be cutting 7,200 jobs going forward. Shares are down 2%, but this is on a down morning for the market, overall.
Merck, the maker of Singulair and Gardasil, saw … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Trading: Triangle Patterns Abound, Some Cautionary Signs
Index and individual stock charts are showing us an abundance of wedge-shaped patterns in an indecisive and volatile market. It appears likely that these patterns will resolve in one direction or the other within the next few days, and probably sooner rather than later. A lot of people are watching these wedges, so beware of a false move. At the same time, should we see a break accompanied by volume, I would trade the move aggressively. As of now, I am lightly invested, but leaning … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Regional Bank ETF Index Gets Component Change
We might be seeing a rash of financial index component changes down the line that will affect their exchange traded funds (ETFs) as the uncertainty of our banking system continues.
For now, the underlying index of the KBW Regional Banks (KRE) fund will have some changes. This ETF has managed to fare pretty well in the wake of the larger financial turmoil. Regional banks have also benefited from minimal exposure to the subprime crisis.
MarketWatch reports that these changes will be … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Diamonds Amidst Rubble
A COP: “Anything else that’ll stop the elevator from falling?”
JACK: “The basement.”
- From the screenplay for 'Speed’ by Graham Yost.
It comes to something when you make a habit of watching the opening Normandy landings sequence of 'Saving Private Ryan’ just to relax. Where conventional fund management theory is hugely deficient is in its almost complete absence of reference to the emotional impact of huge volatility, let alone both mark to market and realised losses. As Mike … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Asia Stock Markets Slammed Again On Tuesday
It looks as though the Asian markets got beat up again on Wednesday. There doesn’t seem to be an end in sight for the writedowns that continue to ooze out of the balance sheets of Banks, Brokers and Insurance Companies. The bond market is suffering one of the worst declines that it has ever experienced.
Yields on muncipal bonds continue to skyrocket. The tax equivalent yield for muni’s out 20y and 30y are now in excess of 8%, assuming a 28% tax bracket. When tax rates are … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Poll Results: How Deep Is The Rabbit Hole?
I posted an opinion poll about the outlook for the US stock market a few days ago. In essence, the poll set out to determine readers’ views about the direction of the stock market over the next few months. More specifically the poll asked whether the Dow Jones Industrial Average (^DJI) would be up or down from its level on October 16 (8,578) by the end of October 2008 and December 2008 respectively.
A total of 473 people participated in the October poll and 441 in the December poll, … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Samsung Abandons $5.9 Billion Bid For SanDisk
Samsung Electronics has decided to withdraw its $5.9 billion unsolicited takeover bid, lunched on Sept. 17 for flash memory card maker SanDisk Corporation (SNDK). The decision comes after months-long standoff with SanDisk, for which the South Korean company had offered $26/share.
Samsung cited poor earnings potential at the U.S. company and said it no longer believed SanDisk was worth the money it was offering. In addition, Samsung mentioned that SanDisk’s refusal to engage in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Carry Trade - The Latest Strategy To Blow Up
Macro Man sure is glad that he finally got on the distribution list for “the memo.” Yesterday’s memo about the breakdown of correlations and the underperformance of carry and EM proved to be timely; the Illuminati have done their job well over the past twenty-four hours.
Currency de-leveraging has had a particularly strong impact on EUR/USD; given that the euro was directly or indirectly the beneficiary of speculative flows funded by dollar borrowing for much of the past six years, the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading Analysis: Euro Makes New 2008 Lows
Today’s US Dollar Trading
Traders report thin conditions after the start of New York
GBP drops to 2008 lows; EURO makes new 2008 lows
Technicians suggest over-sold conditions brewingOvernight Preview
Look for majors to hold ranges
Light economic newsLooking Ahead to Wednesday
All times EASTERN (-4 GMT)10:35am USD Crude Oil Inventories
Economic news continues light today for everyone
Summary
The USD continued to advance against the majors today as stops … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: Pfizer, US Bancorp, McClatchy
Pfizer Inc.’s (PFE) third-quarter profit tripled to $2.3 billion, or 34 cents per share, up from $761 million, or 11 cents per share, a year ago. The increase was mainly due to a $2.1 billion after-tax charge that depressed last year’s results. The company said its revenue dipped slightly from $11.99 billion a year ago to $11.97 billion.
Tracinda Corp., billionaire Kirk Kerkorian’s investment firm, yesterday (Tuesday) sold 7.3 million shares of Ford Motor Co. (F) and plans to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - French President Sarkozy Calls For European Sovereign Wealth Funds To Protect Assets
Concerned about the recent decline in stock prices, French President Nicolas Sarkozy, yesterday (Tuesday) called for the creation of European sovereign wealth funds. The funds would be virtual carbon copies of the state-owned investment vehicles that have sprung up from Beijing to Abu Dhabi to disperse their respective nations’ cash reserves in foreign assets.
Addressing the European Parliament, President Sarkozy implored his European contemporaries to embrace the current period of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Fed Steps In With $600 Billion Plan To Bolster Money Market Funds
The U.S. Federal Reserve yesterday (Tuesday) announced a new program that will provide as much as $600 million in emergency funding to money-market funds should the ongoing global financial crisis once again cause the short-term credit markets to freeze out borrowers.
The newly created Money Market Investor Funding Facility (MMIFF) will help money market funds meet redemption needs and keep from “breaking the buck” - dropping below the normal $1 in net asset value - as The Reserve … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Strong Dollar? Consider Higher Yield Foreign Stocks
In line with recent stock lists on my blog, the following securities ex-US may be appropriate for inclusion on your watch list for accumulation. These are not recommendations. This is a list for you to further investigate to discover if they are a fit for your Permanent or Speculative Portfolios.
My screen targeted foreign large cap stocks, recommended as an Outperform or Buy per Reuters and throwing off a dividend of at least 5%.
(AZ) Allianz 8.93%
(MT) ArcelorMittal … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Market Summary: Triangles And More Triangles
Triangle patterns are appearing just about every where one looks. The type of triangle that we have on the S&P 500 and the Dow Industrials is what is called a “symmetrical triangle’.
A symmetrical triangle is named for the characteristics of its shape. In the chart below of the S&P 500 (^GSPC) you will see that the lower and upper lines are nearly identical in their slope with one being inverted from the other of course.
In the world of technical analysis these types of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Tuesday's Stock Trading Action: The Dow And Nasdaq
Still in wacky, neutral, ‘whipsawing like crazy’ consolidation! Volume remains extremely weak and has declined since the start of the triangle. It is still tough to say which way we will breakout, but right now, it still remains 50/50. Here are the 1-day, 3-day, and 5-day charts for the DJIA (^DJI) and NASDAQ (^IXIC).
DJIA 1-day
DJIA 3-day
DJIA 5-day
NASDAQ 1-day
NASDAQ 3-day
NASDAQ … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Stock Market Recap: Market Down On Earnings, Oil
All three major U.S. stock indices ended with losses at the end of the trading day today. The Dow fell 2.50%, or 231 points to end the day at 9,033. The S&P and the Nasdaq Composite followed suit and ended with 3.08% and 4.14% losses respectively. Stocks couldn't keep the midday rally alive as the closing price of yesterday's Dow proved to be a sign of resistance.
Terrible earnings releases, led by Yahoo! (YHOO), and a forecast of huge oil supply, helped fuel Monday's … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Options Trading And The VIX
If you are an option trader, I am sure you’ve had the VIX (^VIX) on your radar since it initially started climbing past 26. Back then that level was concerning, now I wish it were anywhere near that level.
This high volatility environment has option prices overly inflated, which in combination with the widening of bid ask spreads over the last several weeks has made it difficult to trade options. However, I am seeing some positive changes in the elements that lead me to believe that … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - King Dollar: The Greenback Makes A Comeback
The U.S. dollar index (vs. major currencies: Euro Area, Canada, Japan, United Kingdom, Switzerland, Australia, and Sweden ) hit a 17-month high … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Avoiding Financial Stocks Even As Credit Ice Shows Cracks
While it is far too early to declare a thaw in the frozen credit markets, we are seeing some significant cracks in the ice. The yield on the 3-month T-bill is now up to 1.04% from 0.93% yesterday. During the worst of the crisis, this yield actually went negative briefly, and spent days below 10 basis points. Yields like these are the financial equivalent of the banks stuffing cash into mattresses.
I would like to see this get up over the Fed Funds target rate of 1.50% at the very least … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Changing Financial Habits Of Baby Boomers
Here is an interesting graphic that looks at various personal finance metrics related to the baby boomer and silent generations:
Graphic courtesy of the WSJ
It’s worth noting that the data above probably doesn’t include a lot of the stock market losses from the past month or so; and it may not anticipate a prolonged recession occurring that spans multiple years and/or the U.S. having its own lost decade. Additionally (and I hate to harp on this point) adjusting the numbers for … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Trading: Markets Sell Off On Poor 4Q Outlook Of Companies
THE FINAL NUMBERS - Earnings Concern
NEWS: Today the attention finally moved away from the credit markets and was focused on a barrage of third quarter earnings. The Dow (^DJI) finished down 231 points or 2.5% after gaining over 400 points on Monday. The S&P 500 (^GSPC) gave back 30 of the 45 it gained yesterday, losing 3.1%. Finally the NASDAQ (^IXIC) was once again the big loser, crashing 4.1% or 73 points, and is now down 15 points on the week.
THE BOTTOMLINE: The markets … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - 2009 Outlook For Nifty And Sensex
On a sombre note, current Sensex EPS is about Rs 825 per share and Rs 250 for Nifty. It would be hard to argue for growth beyond these figures given the amount of investment at the peak in Land, buildings and foreign acquisitions. Further, the middle class consumer in India will retrench somewhat given the hit to their mutual fund holdings and headlines about job losses.
My outlook for 2010 is a 10% reduction in EPS to about Rs 750 per share Sensex and Rs 225 per share Nifty.
The liquid … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Online Paid Search Spending To Reach $24 Billion By 2013
A new report from eMarketer provides an optimistic outlook on online paid search spending, which like modern finance continues to be the most critical financial internet-component. The report points out that despite a softening economy and turmoil in some other ad media, near future of online ad spending in the U.S. continues to look good.
eMarketer predicts that as more and more advertisers shift their budgets from traditional media to the Internet, paid search spending will not only … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - ETF Investors Bullish On US Dollar And Japanese Yen
The bullish dollar exchange traded fund (ETF) has been on a tear in recent months and is one of the few standouts in a sea of red.
The PowerShares DB U.S. Dollar Index Bullish (UUP) is up 14.7% for the last three months, and is up 8.1% year-to-date.
The good times might continue, as the dollar is now at an 18-month high on strong demand from financial institutions seeking a safe haven, reports Lucia Mutikani for Reuters.
Analysts also say the dollar is fueled by signs of momenutum … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Tuesday: US Stock Market Roundup
Bear Stock Market
It was the turn for the Bears today with the markets moving into negative territory beginning the pre-market trading session. Light trading volume persisted adding to the frustration of day traders trying to make a few trades. Earnings released of late have assisted in putting a damper on market gains. Its to be expected, in this poor economy that corporations were likely to release worse than expected earnings. Investors have a zero tolerance for such bad news resulting in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Reserve Bank Of India Cuts Rate For The First Time Since 2004
The liquidity squeeze has prompted more action from the RBI, a 100bps cut in the Repo rate - the first since 2004. Markets have gone ballistic, up nearly 4.5%. One can argue the market was oversold last week and shorts got squeezed this morning; but volatility is not good news for markets.
Every rally is an opportunity to exit the market and reduce risk. RBI is responding to a crisis; conditions are not normal when we get extraordinary responses from the central bank. The current move … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - As Banks See Shift, So Could Financial ETFs
The financial exchange traded fund (ETF) landscape has already changed significantly this year in the wake of bank mergers, takeovers and bankruptcies. But if the Treasury Department has its way, there could still be plenty more to come.
Wall Street has pulled back today, despite the fact that the credit markets are easing up some. The worries now are that company earnings outlooks are sending signals that we’re headed for a long downturn, reports Joe Bel Bruno for the Associated … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stocks, Hit By Earnings and Program Trading, Print Last-Hour Losses
I suppose that’s the message he’s sending. But, he knows better given his past experiences and responsibilities. After all, if a bank’s trading desk can day-trade free money profitably they would. He ought to know.
There wasn’t any follow-thru to the upside today, just a lot of two-way action that by the close saw stocks hit by sell programs giving back at least half of yesterday’s gains. If you walk away during the last two hours of trading you’ll miss some great “what the hell was … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Recession Dogs Developed, Emerging Europe ETFs
Europe’s exchange traded funds (ETFs) are breathing a sigh of relief as the credit markets show further signs of becoming unstuck.
One very positive sign is that the interbank lending rates between the United States and Europe have dropped to the lowest levels in more than a month, reports the Associated Press. Interbank rates affect the cost of loans to businesses and individuals, which have skyrocketed as worries about the solvency of financial institutions spread.
The International … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Fed To Provide $540 Billion In Loans
The US Federal Reserve is printing money and using it as paper mache to sure up the failing infrastructure that was once our financial system.
Oct. 21 (Bloomberg) - The Federal Reserve will provide up to $540 billion in loans to help relieve pressure on money- market mutual funds beset by redemptions.“Short-term debt markets have been under considerable strain in recent weeks” as it got tougher for funds to meet withdrawal requests, the Fed said in a statement in Washington. About $500 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Congress May Consider Stimulus For Economy, ETFs
The idea of another economic stimulus bill is gaining traction, but what it will mean for the economy and exchange traded funds (ETFs) down the road is still a question market.
Federal Reserve Chairman Ben Bernanke suggested a second round, and President Bush seems open to the idea, reports Andrew Taylor for the Associated Press. Democrats say another bill would include items previously rejected, such as road and bridge construction money and help for state budgets. Tax rebates are also … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Gold Premiums Soar On Increasing Shortage
COMEX gold continues to surprise to the downside despite the incredibly strong fundamentals of gold bullion itself with increasing shortages, delayed deliveries and premiums soaring for physical bullion in Asia, Europe, the US and internationally. Premiums have soared on smaller bullion products (from 1 ozt to 5 kilo gold bars) and look set to soon rise on the larger 100 and 400 ozt London Good Delivery gold bars.
Large investors and bullion dealers are now looking to take delivery of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Credit Default Swaps – A Disastrous Unwind
Although mortgage backed securities and mortgage related assets has plagued the financial sector for the past 12-14 months, the sector is about to come under considerable pressure because of a uniquely structured product called a credit default swap or CDS. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Dividend Stocks For A Weak Economy
If we truly are headed into a deep recession domestically as well as globally, the stocks of companies that provide goods and services that we are unlikely to go without during a recession are probably a good bet to continue to grow earnings and dividends throughout a slowdown. The problem is that many of these companies have not been sold off as hard as some of the more economically sensitive names due to investors being aware of this very fact. Paying closer attention to these types of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading Commentary: US Dollar Up Sharply As Fed Announces New Liquidity Program
Euro
The euro depreciated vis-à-vis the U.S. dollar today (Tuesday) as the single currency tested bids around the US$ 1.3150 level and was capped around the $1.3360 level. The common currency reached its lowest level since March 2007. The Federal Reserve announced new liquidity provision program today called the Money Market Investor Funding Facility that will purchase certificates of deposit, bank notes, and commercial paper with maturities of 90 days or less. This … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How To Put Gold Into Your IRA
Retirement accounts will be among the greatest casualties in the wake of this financial meltdown.
American retirement funds have already lost an estimated total of $2 trillion in value since summer 2007. By that measure, the average retirement account held in the United States has lost tens of thousands of dollars, erasing a full decade of savings and investment gains in some cases.
A tiny group of savvy investors, however, have managed to keep their nest eggs safe and sound … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Double Meaning: TARP, When Spelled Backwards, Is PRAT
Dictionary results for: Prat
Dictionary.com Unabridged (v 1.1) prat [prat] – the buttocks.[Origin: 1560–70; orig. uncert.]
Think for a minute today about the unintended consequences of using taxpayer money to fund the acquisition of smaller banks by larger banks. WSJ this morning reported that the latest twist in this bizarre TARP “bailout” program is that the larger banks are now going to use the excess funds, the so called $250b dollar “injections” to purchase other … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Volatility Index VIX Drops 20% In One Day…Again
Sometimes a big move in the VIX (^VIX) is significant and sometimes it is a lot harder to interpret. On the surface, yesterday’s 24.7% drop in the VIX - the second largest one day move down in percentage terms - appears to fall in the latter category.
From 1990 through 2005 the VIX fell 20% on only two trading days: once in 1993 and once again in 1994 (see green arrows in top graphic). Each instance signaled a bottom and about a three week bounce. The markets then moved up sharply in … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How To Potentially Correct The Mortgage Crisis
No doubt there is plenty of lamenting to go around in this ongoing economic crisis. But how does one go about looking for solutions? Thankfully Zacks senior equities analyst Eric Rothmann was on hand recently to tell us how he would begin the process re-working the current state of mortgage loans, keep individuals in their homes, get the banks back on track to lend, and help alleviate the some of the backlog of homes available for sale.
The investing public has had some time to absorb … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Although Bank-To-Bank Loan Rates Fall For The Sixth Straight Day, Only The Strong Will Survive
As a result of the U.S. credit crisis - and the near-shutdown of the commercial lending market - investors can expect Corporate American landscape to change in a big way over the next 12 months.
Although bank-to-bank loan rates fell for the sixth-straight day yesterday (Monday) - decreasing fears that the corporate-lending market was going to seize up - a new reality has emerged: As the song says, “only the strong will survive.”
Strong companies will navigate the uncertainties of the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How Canada's Potential Rate Cut Will Impact USD/CAD Today
At 9 AM EST Tuesday, Canada will likely cut rates 50 basis points from 2.50% to 2.0% in an effort to stimulate the ecomony. This comes after an unexpected but seemingly necessary rate cut on October 8th. This has the possibility to extend the losses we have seen since the beginning of October. Normally a rate cut would induce a downtread in the CAD; but today might be a different story based on the technicals.
I’m looking at the one hour USD/CAD chart right now and I’m getting really excited … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: Merrill Lynch, Halliburton, Hasbro
Halliburton Co. (HAL) yesterday (Monday) announced a third quarter loss of $21 million, or 2 cents per share, compared to a gain of $727 million, or 79 cents a share, for the same period in the prior year. The Houston, Tex.-based oil and energy services firm attributed the loss to financing expenses including $693 million in costs related to the redemption of convertible bonds, Bloomberg News reported.
Toymaker Hasbro Inc. (HAS) posted a gain of $138.2 million, or 89 cents a … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How LIBOR Threatened To Destroy The Global Banking System
The largest financial crisis since the Great Depression has revolved around an interest rate that many U.S. investors are only now hearing about for the very first time: The London Interbank Offered Rate (LIBOR).
But if you understand that rate, and study the forces that have been influencing it, chances are very good that you can figure out how we can escape the current banking-sector mess without wrecking the entire world economy.
Although not a common term here in the U.S. market … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Memo From The Illuminati
TO: Goldman Sachs, Bill Gross, Warren Buffett, et al.
FROM: The Order of Rosicrucians, Pentavirate, and Illuminati
RE: Correlation Breakdown
____________________________________________________________________All,
This memo is to notify you with immediate effect that the 100% correlation across asset markets is now over. We have decided that despite the improvement in funding markets, the recovery in equities, and the decline in implied volatility that pro-risk market prices … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Inside Exelon's NRG Bid
Before the opening of yesterday’s (Monday) bell, the United States’ largest utility company, Exelon Corp. (EXC) made an unsolicited offer to buy NRG Energy (NRG) for $6.2 billion or $26.43 a share. The deal, a stock for stock bid, has a fixed exchange ratio of 0.485 EXC shares for each NRG share and represents a 36.7% premium to NRG’s closing price last Friday. After Exelon’s conference call and a few hours to digest, here are some of the pros and cons of the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Bailout Bill = US Taxpayers Get Screwed
Before I get into tonight’s charts, I want to touch on a subject that just gets right under my skin.
The US taxpayers are being forced to provide capital to banks and financial institutions by way of the “bail out” bill. The premise of this bill and the subsequent modification announced by Hank Paulson last week was to provide emergency liquidity to banks to free up the frozen lending markets.
This morning I received an email with a link to an article that was published in the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать
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Об этом говорят...
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