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- Stock Market Summary: Triangles Gone Wild
Today (Thursday) was a very difficult day for trading. At one point the S&P index (^GSPC) reversed direction and moved upward extremely quickly in the span of only a few minutes, making it nearly impossible to hold onto a trade with the fear of not knowing how much further it would go or if another direction change would come just as quick.
Today I attempted to short the S&P 500 index when the intra-day low surpassed the pin low from yesterday. Technically that is a very … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. 
Переслать - US Treasury And FDIC Team Up To Aid Homeowners At Risk For Foreclosure
Foreclosures continue to plague the U.S. housing market, but government agencies are working to develop a plan to aid struggling homeowners, and in turn, strengthen the U.S. economy.
Foreclosure activity saw a huge spike in the third quarter, as one in every 475 U.S. homes either received a default or auction sale notice, or was repossessed by a bank, according a report released yesterday (Thursday) by industry group RealtyTrac. It was a 71% jump over third quarter foreclosure activity … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Scary Time Of The Year
Every year around this time, we start seeing all sorts of scary images, meant to frighten us out of our wits.
This time around, there is a new source of disturbing imagery: the global financial markets. In “Losing Control,” FT Alphaville does it’s best to make sure that plenty of people will have a hard time falling asleep tonight.
This is a singularly arresting chart:It’s Bloomberg’s chart of the day and has been reproduced by Paul Kedrosky on his blog, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Keeping Dividends, ETFs From Going The Way Of The Dodo
Dividend yields are at decent levels right now, benefiting related exchange traded funds (ETFs), but some say we shouldn’t rest on our laurels.
Last month the credit and housing markets turned over and sent dividends out of the roof to their highest levels in a decade. David Gaffen for The Wall Street Journal points out that if share prices do not repair themselves and shoot upward, the pressure will be on for the yields.
The dividend yield on S&P 500 companies is 3.1%, compared with … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Picks And Trade Ideas For Friday - TOL, JNPR, LDK
Chart courtesy of stockcharts ( click to enlarge )
LDK Solar (LDK) - As the near-term trend does not appear bullish, there is no reason to invest in this stock now. Fresh exposures may be considered once the stock stabilizes and gets into an upward trending mode. Since the stock is still on a down trend with MACD below 0, there is no reason for the long player to buy the stock. Only a close above $18.75 would have positive implications in the near-term.
Chart courtesy of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Why Would Anyone Buy Stocks Now?
Investing should be really simple, you buy low and sell high. The problem is that when the ‘low’ is available, stocks are about as attractive as the girl who did the 100 meter dash in the 90 meter gym. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Foreign Currency ETFs Shift During Credit Crunch
Currencies around the world are shifting as the credit crisis drags on, and exchange traded funds (ETFs) are reflecting these movements.
The U.S. dollar is regaining its strength, but that might not be such a great thing.
Omir Esiner for Marketplace reports that the Mexican peso has declined 20% against the U.S. dollar in one day, and the Icelandic currency moved 35% against the euro as well. The dollar is now sitting at five-year highs against some currencies.
The dollar’s strength … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Charting Thursday's Actions Of The S&P 500 Index
We had lot of intra-day patterns formed today including, an ascending triangle, a descending triangle, a wedge, a double bottom, and flags. Each pattern led to another which is the reason why pattern recognition is so important. If you didn’t know what the chances of a breakout of breakdown was for each pattern, then you’d be SOL and would be trading at the mercy of the market. Patterns foreshadow what is to NOT to come, but what is MOST LIKELY to come.
Thursday was a clear cut day … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Market Wrapup: Volatility Can Be Sickening
THE FINAL NUMBERS - Volatile Day Ends Higher
NEWS: I hope you were buckled in your seat today, if not you probably fell on the floor a few times. An early 200-point gain was quickly erased and a few hours later the Dow was down nearly 300 points. When the index broke below yesterday’s low it appeared it would test the 7882 hit two weeks ago. But, once again this market keeps you on your toes and rallied into the close. When the closing bell rang the Dow (^DJI) was up 172 points or … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Thursday's Market Recap: Nasdaq Down Despite Solid Earnings From Microsoft
Thursday’s trading session proved to be highly volatile once again as the major U.S. indices ended in a mix. The Dow (^DJI) and S&P (^GSPC) both closed with positive percentages 2.02%, and 1.26%, while the Nasdaq (^IXIC) dropped less than a percent, 0.73%. While solid positive earnings from companies like Microsoft helped boost investor confidence, news releases, like the foreclosure report for the third quarter, played a negative role on Wall Street today.
U.S. foreclosure … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Inflation Expectations Plunge By 2% In 4 Months
The chart above shows the market-based 10-year TIPS-derived expected inflation from the Cleveland Fed, calculated from the difference between 10-year nominal treasury notes and 10-year treasury inflation-protected securities. On an adjusted basis (for an inflation-risk and liquidity premiums, see details here), inflation expectations fell to a six-year low of 1.44% yesterday, the lowest since September of 2002.
This is a huge drop in inflation expectations from 3.36% in June to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - One ETF That's Full Of Garbage
One thing that never goes out of fashion no matter how bad times get is garbage, giving a trash exchange traded fund (ETF) a chance to outperform the broader market in a recessionary period.
Market Vectors Environmental Services (EVX) certainly has potential, and the United states generates 750,000 tons of garbage daily. While it’s outperforming the S&P 500 only slightly, down 35% year-to-date vs. the S&P down 38.9% year-to-date, there are some things happening in the world of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - $40 Billion Foreclosure Assistance Not Even Close
The Treasury just released some news that they were pumping $40 billion into the foreclosure/loan modification/refi market. The details are ambiguous as best.
$40 billion is nothing. Below are real-time foreclosure stats for CA. Remember, CA is 35% of all defaults and foreclosures by count and 45% by dollar volume. While its nice to see this topic addressed $40 billion is not much considering int he state of CA, total Notice-of-Defaults and actual Foreclosures are averaging about $28 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Thursday: US Market Roundup
Earnings Report
The markets were in a bit of a tug of war today between the Bulls and the Bears however, the Bears were winning hands down, into the middle of the afternoon trading session. At the closing bell, the Bulls took over the reigns with a positive end to a shaky trading session. Earnings released for the third quarter are not impressing investors which is only increasing the strength of the selloff in the markets, across the board. More and more larger firms are announcing … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Market Is Currently "Uninvestable"
My comments from yesterday’s extensive post still apply since despite the mixed bag today, not much has changed with charts or conditions. You may view that here.
The best thing is for some sideways movement but that falls more in the wish department. A rally can’t be discounted with markets much oversold nor can another precipitous waterfall drop.
I’ll add one more thing which I’ve mentioned previously. These past few weeks have been a delight for day-traders given the tremendous … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - World's Wealthiest CEOs Feel The Pinch
It is true that rich get richer a lot faster than most. That also means they can lose their shirts a lot faster, too. The WSJ has a list of uber-rich CEOs who have lost in recent weeks billions of dollars in stock in their own companies.
Warren Buffett tops that list with losses nearing $10 billion this year alone. According to an analysis by Steven Hall & Partners, a compensation-consulting firm, the value of Mr. Buffett’s equity in Berkshire Hathaway (BRK-A) declined more than … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Levels To Watch In The US And India Stock Markets
I have been reading and talking about everything but the stock market and it puzzled me that other things were more interesting.
Then I read the following from Kevin Depew at Minyanville and it made sense.
Ye gods, that’s a brutally long digression just to avoid having to talk about the stock market. But there’s not much fun in financial markets these days, and every time I get five spare minutes to sit down and try and figure out the races being run this weekend some new weird disaster … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Outlook Of The Oil And Gas Sectors
The current market turmoil has been particularly brutal in the oil space, with all sub-sectors getting down to levels not seen in years. While expectations of softening oil demand over the coming quarters and broad credit-market concerns have been the primary reasons for the sector’s woes, the sell off has by all measures been overdone.
This indiscriminate sell off has made the risk-reward trade off of a number of sub sectors very compelling, in our view. Our best ideas are in the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Ridiculous Analysis Of Amazon - Honestly
If you’ve been following my writing you know that I had been short Amazon.com (AMZN) for a while but covered the position on October 8th. The thesis was simple. We’re in a recession, the company is highly leveraged to the highly leveraged consumer, and the stock was trading at a very rich earnings multiple.
I, therefore, didn’t find the company’s earnings report last night terribly surprising. Earnings came in a little better than expected and sales were pretty much in-line. The … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - VIX At 79.43 As Panic Deepens
A new record high close for the VIX (^VIX) is all but assured at this point.
Buyers have been afraid to step in front of the freight train during the past three hours, thought it is never easy to predict what the last 90 minutes will bring.
For those who have asked, the VIX technically has no upper … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Outlook Of The Financials Sector
Given the scenario of an upcoming downturn/recession and the credit markets beginning to function again (suspect referencing inter-bank lending versus residential lending as lenders typically keep there credit standards tight and/or require substantial collateral), housing and commercial real estate values would remain under pressure.
The UK and German markets have started to take steps to restart their respective financial system (Germany’s plan would make funds available to US companies … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Thursday's Forex Trading Commentary
Euro
The euro came off vis-à-vis the U.S. dollar today (Thursday) as the single currency tested bids around the US$ 1.2725 level and was capped around the $1.2890 level. Traders are talking about reports that the Bush administration may implement a US$ 40 billion plan to help troubled homeowners refinance their mortgages. Along the same lines, Federal Reserve Governor Duke reported the US$ 300 billion Hope for Homeowners program that was announced a couple of weeks … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Rare Batman Pattern Forming In Volatility Index VIX
Just as it seemed as if the end of the world was nearing, I am pleased to report a rare Batman pattern forming in the VIX (and in the implied volatility of the SPX and SPY).
The chart below shows the right wing formed two weeks ago, just as panic was first setting in, the head was completed last week, when the situation looked most bleak, and now the left wing is taking shape as the forces of good seek to gain the upper hand over the forces of evil.
Once the batman pattern is … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Credit Crisis Takes A Toll On Former Titans Of Banking
It takes more than a globally competitive economy to have a sound banking system.
For the third straight year, the United States finds itself at the top of the Global Competitiveness Index (GCI), published by the World Economic Forum (WEF) as part of its annual Global Competitiveness Report.
“Once the global economy emerges from the current financial crisis, which it will, the countries that do well on our index are those that are best prepared to bounce back and perform well in the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Foreclosures Fall In September, Partly Due To Legislation
RealtyTrac, the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report for September 2008 and Q3 2008. Foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 265,968 properties in September, a 12% decrease from the previous month but still a 21% increase from September 2007 (see map above). One in every 475 U.S. housing units received a foreclosure filing in September (that’s 0.21% of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Gold And Silver Prices Fall Sharply On Massive Deleveraging
COMEX gold’s recent sharp selloff has continued and even the most ardent gold bulls are getting nervous. Bearish sentiment is very prominent and the level of fear in the precious metal markets suggests that a low is likely in the coming days. Leveraged players in the futures market are dumping paper positions wholesale while astute contrarians are using this as an opportunity to buy physical bullion at firesale prices.
Both COMEX gold and silver are off another 2% and 1.6% today after … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Traders Focus On The Bigger Financial Crisis Picture Than Earnings
Yesterday (Wednesday) morning I forewarned of “fast markets” where the $USD had soared overnight, with the prices of commodities and securities plunging. I said “traders are freezing up” and going to cash in the form of the $USD, profits are being taken, and precious metal prices were weak. Nothing is new this morning.
I am not surprised with yesterday’s final result in equity, debt, forex and commodity markets because these markets are all inter-related. But I was taken aback by how … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - SanDisk - Bear Of The Day
SanDisk (SNDK) is the largest supplier of flash storage card products based on NAND technology used in digital cameras, multimedia cellular phones, USB flash drives, and a growing variety of other digital consumer devices. SanDisk reported disappointing Q3 earnings results due to negative product gross margin and excess inventory.
We expect the company’s earnings losses will be followed through the first half of 2009 even with substantial cost-cutting and restructuring efforts. We … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - It's Not New Capitalism, It's Old Socialism: Klaus
Czech President Václav Klaus (picture above) says that the global financial crisis did not result from insufficient market regulation, but, on the contrary, from excessive government interventions and increasing public spending.
“What is now happening in the financial markets after long years of exceptionally solid economic growth around the world is nothing unusual. After years of growth there must necessarily be a decrease at some point,” the president wrote.
He rejected that … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Value Investing Vs Forex Trading
I just took a look at the headlines and noticed that the Nikkei (^N225) just plummeted more than 7% in early Japanese trading because of global recession fears. News flash: This isn’t breaking news. Situations like this make me so glad that my financial futures lies with trading currency.
Value investing in stocks where you buy and hold positions for 30-40 years hoping that they have continued growth that builds and builds is down right scary. I don’t have these fears while trading forex … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Fears Of Mortgage Rate Re-Sets May Fuel LIBOR Manipulation And Mask Deeper Banking System Problems
By Shah Gilani
It’s panic time for U.S. legislators, regulators, banks and lenders. More than $24 billion worth of adjustable-rate mortgages (ARMs) are expected to “re-set” to higher interest rates in November - boosting the likelihood of further home foreclosures.
And it gets worse. That increase in borrowing costs will spread to other parts of the global debt market, representing an across-the board threat to corporate, institutional and sovereign borrowers. If interest rates … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Pre Market: Dump Or Rally?
Pre market action suggests continued weakness with the S&P 500 futures having dropped back below the triangle pattern that I have been showing for days now.
Is this the sign that the market is on the precipitous of a very major down move? From a technical perspective the odds are higher of a downward move, but what kind of interventions are out there?
Maybe this:
EMERGING MARKET CURRENCIES OFF SESSION LOWS ON CHATTER THAT IMF WILL PROVIDE $1 TRILLION AID PACKAGE ,
1 … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Market Timing Indicator
I was experimenting with this indicator which looks at the relative strength of the S&P 500 (^GSPC) versus the Put: Call Ratio. As the market moves up, it must be confirmed by a decline in the put to call ratio, otherwise it’s a false signal. I used a couple of simple moving averages to smooth out the volatility in the index. I then put together the same chart of the S&P 500, to look at whether the signals got you in/out earlier or later. Obviously, the longer term trend … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Another Sign We Are Near The Market Bottom
“I am so buried right now with the lower prices compared to what I paid,” he said. “But if I can get what I think is a reasonable amount, I’m going to sell out.”
Investors flee to stock market’s sidelines, no return in sight - MarketWatch.I am always happy to see articles like the one above from MarketWatch. I remember similar sentiments in 1987 and 2002.
Here are a couple of more quotes from the article from professor Terrence Odean:
“There was a sharp drop for a couple of days … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Look At Some Market Indicators
The put to call ratio moved up strongly yesterday (Wednesday). More market participants are positioning for downside. It seems to be trading in a range between 0.85 and 1.50.
The new highs - new lows, while still down yesterday, is not at the same level that it was at a week or so ago. This is a positive sign. We’re still below 0, not good. But increases in this indicator are positive.
The NYSE Advance Decline line is still sharply negative but still not plumming the lows … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Things Not Looking Good For American Express
American Express (AXP) blew past analysts’ expectations after the close yesterday. With consensus estimates calling for $0.59 cents per share, Amex reported diluted earnings per share from continuing operations of $0.74 cents per share, which was down 21% from $0.94 cents a year ago. Net income also came in with heavy losses at $861 million, a 23% fall from $1.1 billion last year. With the earnings beat, shares climbed higher by 8% after hours at one point, adding to the 4% gain during … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Caterpillar Slinking Slowly
Caterpillar Inc. (CAT) reported third quarter EPS of $1.39, below our expectations of $1.59, due to higher material costs, weaker machine sales volume in North America and Europe, and an unfavorable currency movement. Caterpillar maintained its full-year 2008 outlook.
The company expects sales and revenues to top $50 billion and EPS to be about $6.00. For 2009, Caterpillar Inc. currently expects sales and revenue to be about flat with its 2008 results. As long as commodity prices stay … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: Finding A US Dollar Bear Will Be Hard Work
Today’s US Dollar Trading
Traders note volumes and conditions at almost zero
Stops drive a lot of the majors lower
USD/JPY into the 97.00 areaOvernight Preview
Look for consolidation and a quiet night
USD likely to be sideways ahead of dataLooking Ahead to Thursday
All times EASTERN (-4 GMT)8:30am USD Unemployment Claims
10:00am USD HPI m/m
10:35am USD Natural Gas StorageSummary
The USD continued to advance against most majors but lost ground … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Barbell Portfolio For A Fork In The Road
Whew! The official intervention in the last few weeks seems to be finally taking effect. Credit markets are finally starting to normalize as we see that LIBOR starting to edge down.
Now that the panic seems to be starting to end, I began to muse the implications of the events of the past few weeks and months on investment policy. Note to traders: investment policy isn’t about what happens in the next day or next week, but orienting the portfolio for the next 3-5 years (or … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - OPEC Production Cut Up In The Air As Members Clash Over Oil Prices
In the face of the worst worldwide financial crisis since the Great Depression, the Organization of Petroleum Exporting Countries (OPEC) is expected to cut crude-oil output and raise prices at an emergency meeting in Vienna tomorrow (Friday). But even with crude oil prices down more than 50% from their July record highs, friction between cartel members has analysts wondering just how big the prospective cut will actually be.
Oil prices continued their downward slide yesterday … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: EUR/USD Falls To Lowest Level Since November 2006
Euro
The euro came off sharply vis-à-vis the U.S. dollar Wednesday as the single currency tested bids around the US$ 1.2740 level and was capped around the $1.3080 level. The common currency reached its lowest level since November 2006. Traders reduced their exposure to higher-yielding assets on growing economic worries. European Central Bank member Gonzalez-Paramo suggested the European Union strengthen the role of its consolidated banking supervisor. ECB … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: Boeing, McDonald's, Wachovia, AT&T
The International Monetary Fund (IMF) said yesterday (Wednesday) that U.S. economic growth would be flat or negative for the rest of 2008, and into 2009. In Canada, growth for 2008 will be about 0.3% but is projected to rise to 1.7% for 2009. Latin America and the Caribbean regions will grow at a 3% rate the IMF said.
McDonald’s Corp. (MCD) said yesterday (Wednesday) that third-quarter profit jumped 11% with same-store sales, or sales at stores open at least a year, up 7.1% … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Highlights Of The Peak Oil Conference - Part II
To wrap up the macro outlook for oil, I selected this excellent Schlumberger slide from Herman Franssen’s presentation:
The rapidly growing gap between expectation and reality could hardly be made more clear than that. Spare capacity cannot be significantly expanded, demand projections cannot be met, and prices will have to rise back into the stratosphere. We are now poised, it would seem, at a turning point, with far-reaching effects.
The End of Globalization
Jeff Rubin, the … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US "House Of Cards" Takes Many By Surprise
In the old days, many people probably thought the bears’ notion that the U.S. financial system was nothing more than a house of cards was more alarmist fantasy than blood-curdling reality.
In fact, the idea that financial institutions could collapse and careen into one another in rapid succession, like a rickety tower of Jenga blocks that had been tipped too far to remain standing, sounded like something out of a badly written airport novel.
Well, as we’ve seen over the past … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Stock Market Summary: Bears Have The Ball
SPECIAL NOTICE: At the bottom of my wrap up tonight, I am including a special commentary written by Karl Denninger of the 'Ticker Forum’. I feel the message is critically important and want to include it here for you to read. It is being reprinted here with the expressed permission from Karl Denninger.
For the past couple days I have been discussing the triangle pattern that has been developing. Today that triangle pattern was proven to be valid with the interaction with the lower … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Wednesday's Trading Actions In The S&P 500 Index
During US pre-market, you just have a feeling that there will be a forceful gap that will break through everything. Or, if you don’t that gut feeling, you can simply look at a 3 or 5-day chart and look at how the open cut through several support levels. Combine that with the fact that the market didn’t even attempt to fill the gap, nor did it have any energy to do so within the first 30-mins. The day slowly drifted down until it quickly hit the abyss at around 3:30PM. The short signal … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Reasons For US Dollar Strength
Some people may be wondering why the US dollar has strengthened so much lately as the Fed has been flooding the system with dollars. Here is a quick list of possible explanations. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Canadian Data Looking Worse
According to the numbers released today, the Canadian economy is in a worse position than both the public and economists previously believed.
The following was reported today (Wednesday):
Core Retail Sales -0.3% vs 0.3% expected
Retail Sales -0.3% vs 0.0% expected
Leading Index -0.2% vs 0.1% expected
It's interesting to note the decline in both automotive and clothing sales. It appears that Canadians aren't too nervous yet, as although they may have cut down on large … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Dollar Index Hits Two-Year High
The U.S. dollar index (major currencies) hit a two-year high today, reaching the highest level since October 16, 2008 (see chart … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Charting: S&P 500 Triangle Continues
We’re nearing the Apex of the Triangle formation that’s formed on the 30-minute and 60-minute chart of the S&P 500 (^GSPC) (and other market indices) so it’s worth going inside this formation and seeing what might lie ahead.
S&P 500 60-minute chart:
Right now - if you don’t follow Elliott Wave - we’re in a simple triangle consolidation pattern, and are reaching the apex of the formation which will converge about the 930 index level. Most triangles break-out 66% to 75% of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Bill Gates' New Sci-Tech Company
According to a report from TechFlash, a news site that covers the technology industry in the Pacific Northwest - Microsoft (MSFT) founder and chairman Bill Gates has plans to start a new company that will be called bgC3 LLC.
The public documents, says TechFlash - describe Mr. Gates new entity, which was established in March 2008, not as a tech start-up or as a commercial venture. The quietly created company is instead structured as a 'technological think tank’ and as a vehicle to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Mutual Funds Can Have Tax Shocker But ETFs Don't
Both mutual funds and exchange traded funds (ETFs) have taken their licks in the downturn, but mutual funds are about to start adding insult to investor injury.
Even though the average U.S. diversified stock fund is down 33% through Monday, investors might find themselves having to pay big tax bills anyway, reports Tom Herman for the Wall Street Journal.
Mutual funds generally pay net capital gains to investors at the end of each year, and they’re typically taxable if the investments are … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Apple Takes Share From BlackBerry
Apple Inc.’s (AAPL) lower price point on the 3G iPhone has taken market share from its competitor Research in Motion (RIMM), producer of the Blackberry. Moreover, Macintosh continues to take share from traditional PCs.
Apple reported strong Q4 results; however the company provided a cautious outlook for Q109. Apple has a history of beating its own expectations. Thus we remain positive on the stock. However, we do have concerns over the potential for slowing iPod sales as the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Wednesday's Market Recap: Stocks And Crude Oil Tank Again
The U.S. stock market experienced another sell-off today, as the economic outlook for the U.S. remains dismal. With falling oil prices, corporate earnings forecasts, and a stronger dollar, the market appears as if it hasn’t hit the bottom yet. The S&P (^GSPC) fell 6.10%, while the Nasdaq (^IXIC) dropped 4.77%. The Dow (^DJI) fell more than 500 points today, or 5.69%, and closed at 8,519.
Major indices around the world also took hits on a worsening global economy. In England, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Pondering London's Future Status As The World's Economic Center
Here is a rather humorous image, it’s a photo of a memorial outside of the Bank of England for “The Boom Economy”.
Graphic courtesy of the WSJ
The image comes from an article that discusses how the impact the current downturn may have on London’s role as a global financial center.
From the WSJ:
LONDON — Outside the Bank of England, a makeshift memorial recently appeared: a lamppost decorated with flowers and a sign: “In Loving Memory of the Boom Economy.”The financial … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - SPX Options Carpet Bomb Pushes VIX SOQ To 63.04!
Kudos to Adam at Daily Options Report for getting all over the VIX (^VIX) expiration story a little earlier. In Time for an In-VIX-Tigation? Adam wonders about the large number of SPX options trades at the open today.
In the table below, I have reconstructed the details of this attack, which appeared to involve the purchase of close to 300,000 puts (all of which were opening transactions for that strike) and a grand investment of about $150 million.
This transaction pushed the VIX … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock Picks And Trade Ideas For Thursday - BRCM, LXK, CIEN
Chart courtesy of stockcharts ( click to enlarge )
CIENA (CIEN) - The technical chart of CIENA shows a symmetrical triangle price pattern which can act as a reversal as well as the continuation pattern, depending on the volume as well as the breakout that follows, up or down. The red downside trendline of lower highs and the green upside trendline of higher lows is converging to form a symmetrical triangle. A symmetrical triangle does not tell you where prices are headed but … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Carl Icahn More than Doubles His Stake In Lions Gate
Carl Icahn has more than doubled his stake in the Hollywood’s largest independent movie and TV studio - Lions Gate Entertainment (LGF). According to a regulatory filing made earlier this week with the U.S. Securities and Exchange Commission, Mr. Icahn spent more than $86 million to acquire additional shares in Lions Gate - increasing his stake in the co. to 9.2% from 3.7%. Mr. Icahn now owns a total of 10.8 million LGF shares (from 4.29 million shares) which he acquired at various … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - China Has New Growth Plan To Repair Market, ETFs
China is looking for ways to boost growth as its economy and exchange traded funds (ETFs) continue to cool off.
The Chinese government has begun drafting plans for tax and spending policies in an effort to stimulate their economy after third quarter growth was at 9%. This is the slowest rate since the SARS outbreak in 2003.
Industrial production and construction slumped from July through September because of weak exports, a dead real estate market and temporary restrictions imposed during … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - UltraShort Oil ETF Offers Opportunity As Oil Prices Fall
Oil keeps heading lower most days, but that doesn’t mean investors don’t have a change to profit with exchange traded funds (ETFs).
Oil is heading toward $50 per barrel and there’s sentiment that any OPEC production cuts will not be able to stop this slip downward, reports Andrew Snyder for Contrarian Profits.
An ETF to help you profit from oil’s downturn is the ProShares UltraShort Oil and Gas (DUG). Year-to-date, the fund is up 32.6% and it’s number 12 in trading volume, according to … [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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