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- US Stock Market Crashes: Historical Comparisons
(click on image to enlarge)
I don’t know if these pictures make us feel better - this has happened before and we have survived -or make us feel worse - this has happened before and we have learned nothing.
These graphs from Calculated … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. 
Переслать - Citibank Blames Short-Selling For Collapse Of Its Stock Price
I recently asked the question: Citibank: What is the problem? Now we know: it is the short-sellers. Citibank (C) has problems to solve; blaming short-sellers for the collapse in stock price is missing the point. Why is Citi concerned about its stock price? It should be spending its time and energy working through its problems and re-building its franchise and credibility. I would say they have too many people on staff; clearly someone has time to waste worrying about … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - ETF Wrap-Up: We're Going Through A Crash, If Only In Slow Motion
I thought we were dangerously on a cliff a few days ago and now we’ve been pushed off.
There could be more trouble as an institution like Citigroup (C) below $5 must be sold by institutions prohibited from owning stocks below that price. Alwaleed, the wealthy Saudi who owned 4% of the stock, said he was upping his ownership to 5% today. Perhaps someone tapped him on the shoulder and told him to do that to prevent more selling. Obviously the Big Three auto companies are no longer in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: GBP/JPY Breaks And Opens Below Key Support
GBP/JPY is trading around 138 with a key level at 139.11 breached as of EOD 11/20. On the open in beginning of Asian Session 11/21 we see GBP/JPY opening at 137.99. Please see earlier post for a more detailed … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Take A Step Back From The Stock Market
The markets today (Thursday) look as if they would rebound off the lows and bounce from the 2002 lows. That is until government officials began to speak and the Dow (^DJI) went from unchanged to down 444 points when the closing bell rang. The close was the lowest since 2002 for the Dow. The S&P (^GSPC) also got crushed, falling 54 points or 6.7% to close at the lowest level since 1997. The NASDAQ (^IXIC) dropped 70 points or 5.1%. Oil is below $50/barrel and gold was the one … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Banks Forgiving Mortgage Principle - A Disturbing Trend
In a rather disturbing trend some banks are beginning to forgive portions of the principle owed on mortgages in arrears:
From the WSJ:
As home prices slide and loan defaults pile up, some mortgage companies are slashing the amount that borrowers owe, deciding that a permanent cut in the loan balance may pay off if that helps teetering borrowers avoid foreclosure.The small but growing push sharply contrasts with most loan-modification programs. Borrowers often get a lower … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Inside Today's DIA Trading Patterns
What a day. Let’s take the DIA (DIA) (Dow Jones ETF) trading structure on the 5-minute and 30-minute charts to see what insights we might can learn from any pattern recognition examples that might emerge on such a historic day.
DIA 5-min chart:
The first pattern that jumps off the chart at you is what I call the “Measured Move” pattern, or more technically the “A to B equals C to D” structure - keep in mind these are not Elliott or any other special kind of chart notation.
A … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Santa "Bailout" Claus
Yeah, yeah, I know, I’m being a “Financial Calvinist” again.
BUT…
you can’t exactly argue that we’re not heading in this direction.
Something else to think about: it’s fairly easy to argue that we got into this situation because our economic policy was designed to remove negative consequences from the economic cycle instead of just letting things run their course. SO, if we do the same via certain bailout strategies that are more aimed at maintaining the status quo, the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Would Retail ETFs Benefit From A Potential All-Out Price War?
Online retailers are increasingly becoming the shopping destination of choice, and an all-out price war could help retail exchange traded funds (ETFs) this holiday season.
Malls and department stores are empty, and to compete for customers’ attention, retailers are now offering up great sales and deals before the Christmas season has officially begun. Online, however, there is an even bigger war going on, as retail sites are price-cutting and offering free shipping to boot, report Claire … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Some Bullish Divergences
You know the psychology is really bad when the market breaks its October lows and the press is full of stories about the upcoming Great Depression II and economic and social collapse. While this is undoubtedly a bear market, this is also a maximum frustration market where traders get whipsawed in their positions on a daily and hourly basis. Macro Man pointed out the one-day range for the S&P 500 (^GSPC) on November 13 is roughly equivalent to the annual range for all of 2005.
What … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Microsoft Partnering Up With China Mobile
ChinatechNews is reporting that the largest mobile phone operator in China, China Mobile (CHL), has reached an agreement with Microsoft (MSFT) to pre-install Microsoft’s Windows Mobile Internet Explorer 6 browser in the Samsung Omnia handsets sold by China Mobile.
According to Microsoft’s Windows Mobile Director Scott Rockfeld, the reason the software giant selected China Mobile as the first operator to get mobile IE 6 is because of vast growth in the number of new mobile users … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - SolarWorld Makes An Investment In GM
You know times have changed when a German solar company is offering to throw General Motors (GM) a bone, and shell out $1.26 billion for one of its subsidiaries.
German solar powerhouse SolarWorld issued a press release yesterday, stating that the company plans to bid on four German production facilities and Opel’s Ruesselsheim development center and headquarters. (Opel is a German automaker that was acquired by GM in 1929, and continues to operate as a subsidiary.)
SolarWorld … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Switzerland's Central Bank Cuts Interest Rates Unexpectedly
The Swiss National Bank (SNB) announced Thursday it was lowering the three-month Libor target range by 100 basis points to 0.5-1.5% with immediate effect. The move marks SNB’s biggest ever rate cut which comes after Swiss exports, a key driver for the economy, fell by 8.1% in October versus the year-ago period in real terms, underscoring the fact that the global economic downturn, particularly in the euro zone, is taking its toll.
Switzerland’s central bank said it was lowering its … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Iceland Gets $11 Billion Bailout, but Will be Saddled with Debt for Years to Come
Iceland today (Thursday) secured nearly $11 billion in loans from the International Monetary Fund (IMF) and other nations. The bailout will help the island nation stabilize its currency and recapitalize its banks, but it will also saddle its tiny population with a huge debt burden.
The IMF will lend Iceland $2.1 billion, and Finland, Sweden, Norway and Denmark will loan $2.5 billion to help the country re-float its currency and shore up its banking sector.
The Icelandic krona, or … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Small Caps: It's Time To Think Small
Over one million jobs vanished this year. Retail sales cratered for the eleventh consecutive month. Auto sales, and for that matter automakers, are headed for the junkyard. And there’s no sign of consumer confidence anywhere.
It’s not official yet. Apparently the committee of “esteemed” economists at the National Bureau of Economic Research (NBER) doesn’t get paid for timeliness. But the statistics don’t lie… we’re in a recession.
And that’s got me giddier than an Obama supporter … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - $300 Billion In Exotic Mortgages Now Available
FHA (Federal Housing Administration) is now New Century, IndyMac, Wamu, Lehman and Countrywide all rolled up into one.
The failed $300 Billion Hope For Homeowners (H4H) program that the markets heralded when it was announced this summer is getting revamped. This is because it was a bad idea in the first place - only 100 applications have been submitted as of Oct 1st. Hear that?!? 100 applications. 100 freaking applications! Its no wonder why there is no faith in the solons … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What To Do About The Big Three Automakers?
The latest chapter in the great bailout saga revolves around what should happen to the Big Three automakers. Specifically, what aid, if any, should the Federal Government provide to them since General Motors Corporation (GM) might run out of cash in a few months and Ford Motor Company (F) and Chrysler (private) could quickly follow.
While it is hard to think of any managements that seem less deserving of help than those of the Big Three, the spillover effects to the rest of the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Technical Analysis And Markets
For most investors, when it comes to technical analysis and markets, they fall into two very distinct camps:
Either they love it or they hate it.
But for those who swear by it, the lines on those charts are more than points on a graph. They are windows into a world where the price action of the past gives clues into the price action of the future.
Needless to say, that is a “crystal ball” type of approach to the markets that leaves the non-believers simply shaking their heads. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Retail ETF Investors Help Fuel Gold Demand
Gold demand is surging even as prices fall, and the largest gold exchange traded fund’s (ETF) increased holdings isn’t because of who you might think.
Retail investors are sharply increasing their demand for more gold bars and coins, as it has presented a safe place to keep their money during the market meltdowns. Last year, people bought 38 tons of gold coins in the third quarter alone; this year, that figure has rocketed to 61 tons, reports Dan Grech for Marketplace.
Meanwhile, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Daily Forex Commentary: Will Fed Cut Rates To 0%?
Euro
The euro moved higher vis-à-vis the U.S. dollar today (Thursday) as the single currency tested offers around the US$ 1.2585 level and was supported around the $1.2470 level. The common currency gained ground on a variety of factors. First, weekly U.S. initial jobless claims surged to their highest level in nearly sixteen years, up 27,000 to 542,000 while continuing jobless claims were at 4.012 million, the highest level since December 1982. These data … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Can A Fundamental Indexes, ETFs Calm A Bear? It Depends
Is there anything an exchange traded fund (ETF) investor can do in a down market such as this besides grin and bear it?
Investment strategies such as stock picking and bond investing are all in the red, so why not a fundamentally weighted indexed ETF?
Ron DeLegge for ETF Guide says fundamentally weighted ETFs try to beat the performance of a traditional index by selecting and weighting stocks according to various financial metrics such as earnings, dividends or book value. A … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The IT Spending Slump: What It Means For Tech Stocks
Due to the current state of the U.S. economy, along with the current economic state of countries around the globe, a global credit crisis, and the need for businesses to cut costs and focus on revenue generating operations, we will experience IT spending cuts. While IT spending cuts may not reach negative growth levels like those experienced during the dot-com bubble burst, we will experience slowed IT spending growth both in the US and worldwide. First let’s take a quick look at the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Triple Triangle Alert: What Triangles On EUR/USD, USD/JPY, And SPY Mean For You
We have three triangles in the making on SPY, EURUSD, and USDJPY — all looking bearish, all on the daily chart. Check them below:
S&P Daily
EURUSD Daily
USDJPY Daily
I personally shorted USDJPY at 95.77, as it is consistent with my long-term view of US dollar bearishness. The current trends, though, are clearly dollar strength as well as S&P bearishness, though, so these trades make sense from that standpoint as well.
The configuration of three triangles … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Look Back At The 2002 Bear Market Bottom
With the US equity market breaking to fresh 2008 lows, challenging and breaking support levels formed in 2002, let’s take a look at how the actual bottoming process formed in the 2000 - 2003 bear market.
S&P 500 (^GSPC) Bear Market from 2000 to 2003 (Weekly):
The bull market peak occurred at 1,530 just before October 2000 before the S&P 500 lost a full 50% to bottom in October 2002, almost exactly two years later.
This chart captures the entirety of the bear market … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex News: US Economic Data Continues To Be Weak; Flight Into Treasuries Continues
The data out of the US was once again very weak. The US Initial Claims were at the highest since 1992. The Continuing Claims were the highest since 1982. The money continues to flow into the Treasuries. The 30 year bond yield is down 64 basis points in 5 trading days. The 2 year yield is below 1%. This has led to a flight into the US dollar as liquidation and safety of funds still dominates. This has also led to the stronger dollar against certain currencies like the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Five Keys To Value Investing Profits
Value funds have long been viewed as conservative investments. So why are they down an average of 42% during the past 12 months, and what’s wrong with them?
No question, such numbers are scary, especially for large-cap value fund investors who have experienced that 42% drop. And the fact that some of the biggest names in value investing have taken such big beatings has to be especially disconcerting for investors who already have had their confidence badly shaken and their portfolios … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - China Announces Possible Diversification Into Gold
China Considering Diversification into Gold
BEIJING (Dow Jones) - China’s central bank is considering raising its gold reserve by 4,000 metric tons from 600 tons to diversify risks brought by the country’s huge foreign exchange reserves, the Guangzhou Daily reported, citing unnamed industry people in Hong Kong.
China’s foreign exchange reserves, at US$1.9056 trillion at the end of September, is the world’s largest. US dollar-denominated assets, including US treasury bonds and … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Southern California Home Buyers Ignore Bad Financial News
October home sales data is starting to come in for the California markets and the positive trends are continuing. I had read several articles predicting that home sale would stall as buyer’s fear was incited by the stock market crash. Southern California home buyers did not slow down as the 6 county region had October sales 5% higher than September, 66% higher than October 2007, the highest monthly sales this year and the highest monthly sales in 20 months. Buyers were taking advantage of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Future Of The Car Industry: From The Unionized Midwest To The Nonunion Foreign Plants In South
As Detroit’s auto makers seek a government bailout, the resilience of their foreign rivals could vault the South to the forefront of the U.S. car industry. Foreign makers have been lured to South Carolina, Alabama and other Southern states over the past decade by generous tax benefits and laws that make it easier to build a largely nonunion work force.
That labor flexibility has emerged as a key advantage during the industry downturn, allowing foreign-owned plants to rapidly downshift … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Deflation: Is The US The New Japan?
Japan went through a serious bout of deflation in the 90’s. They saw asset values suffer substantial declines. It lasted over ten years. Our market has suffered a serious decline, but still nothing like the decline that ensued in Japan. Are we the NEW Japan ?
Read the following from Wikipedia:
Deflation in JapanDeflation started in the early 1990s. The Bank of Japan and the government have tried to eliminate it by reducing interest rates (part of their ‘quantitative … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: Honeywell, BJ's, Crude Oil, BASF
BASF Halts 80 Factories; Oil Prices Slide to $53 a Barrel; Chinese Automakers Ask for Gov’t Aid; October Housing Starts Hit 49-Year Low; Honeywell Lands Engine Deal; Fed Sees Year-long Recession; Holiday Sales and Traffic to Plummet; BJ’s Profit Jumps 24%
The world’s largest chemical company, BASF SE (BASFY), lowered its profit forecast and announced plans to halt operations at 80 factories. The Ludwigshafen-based company cited reduced orders from the auto, construction and textile … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Markets: A Look Into The US Dollar Part I
This is the first of a four part series covering the highs and lows of the forex (currency) market, specifically focusing on the relationship between the Dollar and Euro, and how commodities as well as inflation have played a central role in the forex markets over the last two years. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - New Year U.S. Housing Market Forecast: No Gain, More Pain
The U.S. housing market is already being pounded by the “perfect storm.” And the outlook for the New Year is for the stormy weather to continue - and probably to get worse.
As if a locked-up credit market and tidal waves of foreclosures weren’t already enough, we’re now watching unemployment climb and consumer confidence plunge.
But even when the housing market is taking on water, there are ways to stay afloat. Indeed, investors nimble enough to maneuver can even make money.
The … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Central Bank Focusing On The Downside
Where to start? The newsflow over the past twenty four hours has been very interesting indeed, as has the price action. Not that it’s been a particularly lucrative twenty four hours….despite trying to rise above the noise, Macro Man has managed to top and tail himself a couple of times. Fun, fun, fun…..or B.
So yesterday, US CPI fell 1% m/m, the largest monthly decline in the history of the series by a fairly wide margin. Frankly, Macro Man isn’t quite sure what to make of this. On … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Economic Woes Torpedo Stock Markets
Yesterday was another ugly day for stocks, with bourses around the globe falling victim to strong selling pressure. Fueling the sell-off were concerns that the economic recession could not only be deeper and longer than previously feared, but also fall into a corrosive deflationary phase.
The MSCI World Index and the MSCI Emerging Markets Index fell by 4.6% and 2.2% respectively, tallying declines of 51.2% and 63.4% since the peaks of these indices in October 2007. Only the Chinese … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - GMAC Has Filed As A Bank Holding Company
We see today that GMAC, the former exclusive financial arm of General Motors Corporation (GM) which is now only 49% owned by the beleagured automaker, has filed as a bank holding company. This would allow GMAC access to the Federal Treasury’s $700 billion Troubled Asset Relief Program.
This news comes as no surprise to Zacks senior financial analyst Neena Mishra, who just this past Tuesday posted a blog on Zacks entitled “Biz Redrawn for Treasury Access.” In it, she had this quote: … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Will Capitulation Continue Today?
Yesterday was a classic day of capitulation. All sectors, all industries and 99 of the Cara 100 were trounced. In fact 24% of the high-quality Cara 100 dropped more than 10.0% on the day. Today will start out on the same course.
For the DJIA index, the first hour was fine, and then there was a spike down for an hour, followed by side-tracking for most of the session until about 3:15pm. The final 45 minutes was a killer, once again. There is no confidence in the market as traders are … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Reliance on Oil Depresses Russia's Economy, ETFs
Economic growth for Russia is weak as forecasts have just been lowered, causing distress for shares and exchange traded funds (ETFs). Continued weakness in the Russian ruble also is inevitable, as macroeconomic fundamentals are pointing to a weaker currency in the short term.
Toni Vorbyova for Reuters reports that Russia did get props for Moscow’s response to the financial crisis, with its economy expected to grow 6% for 2008 and 3% in 2009. The deteriorating oil market, capital … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What's So Bad About Deflation?
I’ve started to look closer into deflation. I’m starting to become a believer. Given that we are headed into a bout of extended “deflation”. What does this imply for us as investors in assets and holders of debt? For a good definition of deflation I went to Wiki. Here’s how Wiki defined deflation:
Deflation is the opposite of inflation Therefore, under the usual contemporary definition of inflation, ‘deflation’ means a decrease in the general price level. Alternatively, the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Saks Inc. Down At Fair Value
Saks Incorporated (SKS) is a national retailer operating traditional and luxury department stores. The company reported disappointing results for the third quarter and issued a gloomy outlook for the fourth quarter and 2009. Management indicated that the “current macroeconomic and retail environment is unprecedented,” and it is taking decisive measures on inventory levels, costs, and capital expenditures.
The company’s results deteriorated throughout the third quarter and trends are … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - India Stock Market: Gap Down, Back To Value?
The world equity markets are 6% closer to zero - that is one way to look at the carnage globally. Or, world equity markets are slowly entering a value zone.
Since I believe in the latter, I am acting on my convictions:
I covered my short Nifty 2800 Call at Rs 18. Recall I had sold it for Rs 112.
Second, I added another 11% to my long equity position at Nifty 2510. So, net of the Call premium I have allocated 20% to equities at an average of Nifty 2582.
Net of my gains … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Trading The Next Leg Down
Now that we have broken down out of the consolidation zone in each of the major indexes, it is highly likely that we have a significant downward move ahead. Given recent volatility, we could see a headfake rally virtually anywhere. However, we have broken through lows that were tested on multiple occasions, and are in a clear downtrend, both long- and near-term. We have lower to go in the immediate future.
In this volatile market, I am having more success trading options than equities. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Swiss National Bank Cuts Rates By 100BPS
The SNB has just cut interest rates by a full 100BPS down to 1.00%. This brought the USDCHF and EURCHF to session highs and pushed the USDCHF through the 1.2145 resistance level which the pair tested several times overnight. In fact, the USDCHF is at a high since mid-August … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Dollar Remains Strong Despite Bad News
Today’s US Dollar Trading
USD starts weaker, stops drive majors higher
Upside resistance holds and the majors drop hard
Volumes high on the moveOvernight Preview
Look for the USD to follow-on higher early overnight
Should get quiet ahead of US dataLooking Ahead to Thursday
All times EASTERN (-5 GMT)8:30am USD Unemployment Claims
10:00am USD Philly Fed Manufacturing Index
10:00am USD CB Leading Index m/m
10:35am USD Natural Gas Storage
2:00pm USD … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - ETF Prospects On A Market Rebound
Exchange traded funds (ETFs) are set to be one of the best-kept market bets when the stock market decides to rebound.
So far, the ETFs that are tied to worldwide market indexes have gone through a rough patch. According to Lipper data, 36 funds out of a total of 745 have managed positive one-year return, reports Andrea D. Murphy and John J. Ray for Forbes. All but four of those were focused on short-selling.
ETF investors still have hope for the day when this turmoil settles. When … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - General Motors: A Bankruptcy Is The Way Forward
A GM bailout would delay restructuring and ultimately destroy jobs. Restructuring under Chapter 11 is the best solution, but credit market conditions require the US government to provide transitional, “Debtor in Possession” financing. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Future Of Energy
Earlier this week, I attended Greentech Innovations, a conference focused on completing the transition to a green economy.
Over the next few weeks, I’ll be writing a series of articles that chronicle the detailed information presented there on a wide variety of topics.
Today, I want to begin with a broad view of a cleantech road map that provides a glimpse of what the future of energy will look like.
A Cleantech Roadmap
This road map comes from a presentation given by Scott … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The "Big Three" Automakers Bailout: Why Cling To These Lumbering Beasts Who Have Obstructed Progress?
It was quite a spectacle watching the heads of the Big Three automakers beg the Senate Banking Committee for another $25 billion in bailout money yesterday.
Or should I say, watching them attempt to stick-up America.
“This is about much more than just Detroit,” said General Motors (GM) chief Rick Wagoner, “It’s about saving the U.S. economy from a catastrophic collapse.”
Only a “bridge loan,” he argued, could keep their long supply chain alive, and preserve public confidence in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - ETF Wrap-Up: Beware Of Options Expirations On Thursday And Friday
On SPY (SPY) yesterday we rallied 4.25% in the last hour of trading and today (Wednesday) we fell 3% in the last hour. This type of violence, with today alone being down over 6.33%, is what makes holding positions too difficult for the average investor.
Volume was as heavy as yesterday with most of it coming toward the close like yesterday. But unlike yesterday the performance reversed. Breadth probably put in another negative 90/10 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Default By America Is Looking More Likely By the Day
One of the critical planks of a nation built on borrowed money is confidence. Up until recently, that hasn’t been an issue. Faith in America’s future has remained steadfast. Now, though, people are starting to doubt the wisdom, capabilities and ethos of those in charge. They are increasingly nervous about reactive and open-ended moves to fix the system that aren’t working. They wonder if things have moved past the point the point of no return. Some are even asking the question, as … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Citigroup To Buy Back Billions In SIV Assets, May Face Another Write-Down
Embattled U.S. banking giant Citigroup Inc. (C) has agreed to buy back $17.4 billion of assets remaining in a series of funds known as structured investment vehicles, or SIVs, after it previously agreed to guarantee the liabilities in those funds.
In a separate story today (Wednesday), Wall Street banking analyst David Trone said that he expects higher credit costs and additional losses to force Citi to take $3 billion in write-downs in the year’s final quarter, a realization that … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Gas, Housing ETFs Spill With Economy
The United States economy remains in a state of uncertainty and this apathy is reflected in the actions of investors and their stocks and exchange traded funds (ETFs).
The state of the nation’s Big Three automakers has turned more economic data negative, while investors are wary to spend money anywhere as consumer prices and new home construction are frozen. A severe correction amid the housing industry is still in full swing and consumer pricing has plunged to all-time lows, reports … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Price Points To Watch In The Gold Market
For those like myself who remain strongly bearish on the US dollar, gold is an appealing buy, and a key indicator of the dollar’s health. With that in mind, let’s look at a few charts to help us identify key price points that gold and currency traders should watch and base decisions off.
The chart below is a weekly chart of gold. Note the moving averages are bearish, and that the market has been consolidating for the past four weeks, albeit on relatively low trading volume.
Below is … [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 - COGT, BIDU, CIEN
Chart courtesy of www.stockcharts.com ( click to enlarge )
Baidu (BIDU) is looking like it has some more room to the downside here. The near-term outlook is very bearish and the stock could drop to the $98-100 range. The technical chart shows very bearish sign with the stock below its major moving averages. In addition other technical indicators such as MACD and KD also show sell signal as MACD is below signal line and K line is dropping below D line. Since the stock is still on a … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Midweek S&P 500 Overview: Down To 2003 Levels
Now that today’s close is firmly in place, we have a potential game-changer in terms of the technical structure. The monthly chart also shows a major bearish development Let’s look at the current S&P 500 (^GSPC) chart closely to see what this means.
S&P 500 Daily:
Not a whole lot has changed on the daily structure, provided you note that today’s price marked a fresh 2008 intraday and closing low at 805 which takes us back to levels not seen at all since … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stock, ETF Slump Drives China To U.S. Treasuries
As stocks, exchange traded funds (ETFs) and other securities plummeted in September, the Chinese turned to the safe haven of government debt and became the largest foreign holder of U.S. Treasuries.
It appears that most foreign investors have been attracted to U.S. assets. The Treasury department states that the net foreign purchase of long-term equities, notes, bonds and short-term securities lunged from $21.4 billion in August to a whopping $143.4 billion in September.
China … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - FOMC Minutes Raises The Specter For Further Economic Weakness
The Fed on Wednesday released 'Minutes' of the Committee meeting held late October, '08, raising the specter for more economic and financial weakness. The projections ahead suggest a prolonged and severe economic downturn with increased worries of a deep recession.
Fed officials noted in their analysis that a number of adverse financial developments continue to negatively influence economic and financial market conditions. The conclusion was based on the evidence that the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Realistic Approach To "Foreclosure Rescue"
I’ve been thinking about homeowner rescue plans and it occurs to me that the banks are ignoring a fairly obvious solution, consider this:
Outside of loss of income/sudden financial hardship situations, many of the people facing foreclosure are in those situations because they purchased a home they couldn’t afford with an exotic mortgage, correct?
In other words any relief that comes from “loan modification” or “foreclosure rescue” is either the result of forgiving principle … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - China And Peru Sign Free Trade Agreement, Extending Asian Influence In Latin America
China and Peru signed a free trade agreement today (Wednesday) that will pave the way for further cooperation between the two countries and broaden China’s influence in Latin America.
Chinese President Hu Jintao landed in Peru along with a delegation of nearly 600 business leaders and finance ministers that will accompany him to this weekend’s Asia-Pacific Economic Cooperation (APEC) summit in Lima. However, before the conference officially kicks off, President Hu and Peruvian President … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Rothschild Investment Banking Posts Record Results
The inability of the current investment banking model to withstand the ongoing liquidity crisis has forced many investment bankers out of business or those few that have survived to get by on reduced or no bonuses this year. However, as lenders globally continue to write off and provision for a significant volume of soured loans, UK’s Rothschild group, one of the world’s leading investment banking organizations, has posted record results. The bank has been able to maintain its very strong … [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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