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- Technical Analysis: Simple Vs Exponential Moving Averages
A few readers have asked about the difference between Simple and Exponential Moving Averages and I wanted to address that in an educational post.
In my charting, I utilize the 20 and 50 period Exponential Moving Average (EMA) and also the 200 period Simple Moving Average (SMA). I do this because I want the shorter averages to track the prices closer - and I’m interested in the spread along with the 'orientation’ of the 20 and 50 EMAs, but I also want to see an average price over the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. 
Переслать - IPO "Spring" Might Be Sooner Than Experts Think
According to Bernstein Research, the IPO market for the next year (or two) is going to be about as successful as the Detroit Lions - in other words, not great.
But the IPO market might start picking up sooner than they think. With the amount of money sloshing around in Treasuries driving returns to near 0%. It stands to reason that investors will start looking for better things to do with their money.
In addition, private equity shops aren’t going to want to be “short stacked” for … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Biotech Seasonal Cycle Extending?
One of my perennial favorite trends which hasn’t autocorrected like the January effect and any other publicized cyclical trend is the Biotech Seasonal Cycle. As I’d posted last year, the Biotech indices tend to outperform the S&P handily late each year. See this post for an explanation of reasons and historical data/graphical representation. To demonstrate this year’s continued trend, check out this chart of SPDR S&P Biotech ETF (XBI) vs. the S&P500 (^GSPC) during the last … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - If You Want A Forecast For China's Economy, Ask A Hairy Crab
This is the time of year in which many investors really start to study corporate earnings, jobless statistics and all sorts of other state data in an effort to divine what’s next for China.
But I simply prefer to head for the Wan Chai Street Market in Hong Kong, or the Temple Street Night Market across the harbor in Kowloon, and check on hairy crab prices as we approach the Lunar New Year.
These delectable little guys are usually served steamed, with a splash of soy sauce. When … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - One Blown Fuse After Another
Although there are many reasons why the financial crisis has been especially messy and chaotic, there’s no doubt that a lack of preparedness played a major role.
Dubious risk models were designed without “black swans” in mind. Managers spent little time thinking about what they would do if markets and mechanisms did not function as expected. Insiders and outsiders focused on the short-term or obvious risks, figuring that others would pick up the pieces if things went seriously awry. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Stock Stumble On Wal-Mart
US Markets are on the donwside today as investors take in the worst holiday retail sales figures in years. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Dismal Euro-Zone Data Leads To Risk Aversion
Lower yielding currencies such as the dollar and yen posted gains in trading against the euro this session as poor euro-zone data steered investors away from riskier assets. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Walgreen's To Pink Slip 1,000 Corporate Jobs This Year
Drugstore operator Walgreen’s announced today that as a part of its cost cutting plans, some 1,000 corporate jobs will be shed this year beginning in February. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Valdes: First Week Of The Year Sets Trend
Alan Valdes of Hilliard Lyons says over the past five decades the markets’ actions for the first week have been an accurate precusor to the whole year. So what’s in store for ‘09? … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: GBP/USD Moves Lower
The GBP/USD has started to move lower and is now testing the day’s midpoint which comes in at the 1.5177. The pair remains higher on the day but a break of this level after the strong move higher might signal some profit taking in the GBP/USD. The bias remains up, however, so will need to see the break of the level … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Debt-Financed Consumer Spending Spree?
From the Wall Street Journal article “Hard-Hit Families Finally Start Saving, Aggravating Nation’s Economic Woes”:
Rick and Noreen Capp recently reduced their credit-card debt, opened a savings account and stopped taking their two children to restaurants. Jessica and Alan Muir have started buying children’s clothes at steep markdowns, splitting bulk-food purchases with other families and gathering their firewood instead of buying it for $200 a cord.
As layoffs and store closures … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - EUR/USD Breaks Higher After Breaking Past Moving Average
The EUR/USD moved above the 100 hour moving average (see previous post) and also above the highs from yesterday. Once the level broke the 100 hour moving average, the interest in the EUR/USD picked up dramatically. The pair has also moved above the high from yesterday, frustrating the shorts in the EUR/USD. The bias is to the upside with resistance now at the 200 hour moving average (green line) which comes in at the 1.3858 level. A move back below the 100 hour MA will be … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Procter & Gamble: Growth And Income Buy Alert
Procter & Gamble Co. (PG), which offers an outstanding record of positive surprises on earnings, outperformed the Dow (^DJI), S&P 500 (^GSPC) and NASDAQ (^IXIC) in 2008.
Company Description
Procter & Gamble Company is a major household products and cosmetics company, which manufactures and markets over 300 brand name products in more than 160 countries. The company is well known for impressive product development capabilities, marketing prowess, and a strong global … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Ten Non-Predictions For 2009: Part II
And now the second half of this year’s non-predictions, following on from yesterday’s first five:
6) EUR/GBP will NOT trade at par. This non-prediction is less controversial than it was a week ago, given the 5% sell-off in the cross. Macro Man must confess to feeling slightly bemused about sterling; having felt for years that it was bum-clenchingly overvalued (viz, last year’s comment that cable would not reach a new high), it now looks farcically undervalued against other European … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: USD/CHF Moves Below The 100-Hour Moving Average
The USD/CHF has moved below the 100 hour moving average which currently comes in at 1.1012. The low for the day has been 1.0961. The low yesterday was 1.0868. These will be support levels for the pair as pair struggles to find a direction. A development which favors the downside is the tensions in the Middle East intensified overnight. This may come into play … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: USD/JPY Reaches 50% Retracement Level
The USD/JPY reached the 50% retracement level of the move up from the Dec 17th low of 87.13 and the Jan 6th high of 94.62. The level comes in at 90.88. The low was 90.89. The price bounced off this level on the first test as profit taking buyers/value buyers emerged. The level will be watched … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How Will Barack Obama's Trillion Dollar Deficits Affect The Markets?
The New York Times has an article this week reporting on US President-elect Barack Obama’s warning that there will be trillion-dollar deficits for years to come.” What’s that mean for the markets?
The first line of recourse will be the issuance of Treasury bonds; in other words, the US government will look to borrow money, offering to pay it back with interest. The key question, though, is to what extent buyers of Treasuries will be easily found. As we have discussed previously, the very low … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Broker-Dealer Industry Model Is Kaput
Registered Rep, the prominent magazine for US-based Advisors who work for a FINRA-registered (ie, self-regulated) broker-dealer, says that the industry model is “upset”. I say it is broken, smashed, kaput!
Moreover, I say that there will be new securities industry laws, rules and regulations that will soon usher in a new era of financial regulation. Whether that is a positive or negative development remains to be seen.
But, I’ll tell you what I think.
I think there is little hope … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Global Investing Roundups: Bank Of America, Family Dollar Stores, Orbitz, Monsanto
Emerging Market Funds Lose $48 Billion; Bank of America Sells China Bank Shares; Family Dollar Beats and Raises Forecasts; New CEO, Cost-Cutting at Orbitz; Russian Winter; Monsanto Reaps Profit; No Pain Means Gain for Sun; Oil Slides 12%
More than $48 billion was withdrawn from emerging market funds in 2008, with the largest chucks of change pulled from funds tracking Asia, according to EPFR Global. An emerging markets bellwether, the MSCI Emerging Markets Index, dropped 54% last year, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Obama: Economy First, Deficit Later
Obama’s Pledge to restore fiscal discipline in Washington will have to wait until the economy is back on track. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Forex Trading: USD/CAD Tests But Can't Break Key Level
The USD/CAD, since dropping below the 38.2% Fibonacci level on 1/5, tried but has been unable to crack this key level again. This level, which now acts as a big resistance for the pair, was tested briefly on 1/6 and several times this session as the 100H MA came into the picture reinforcing this … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - India's Economy Standing Firm Amid The Growing Global Financial Crisis
In a surprise to many, India’s central bank has cut its base-lending rate four times since October, going from 9% to its current rate of 5.5%. After all, isn’t India’s economy growing nearly as fast as China’s? And isn’t that growth already being fueled by an unprecedented level of middle-class spending?
The answer to both questions is a resounding “yes.”
But there’s a pesky asterisk here - and that’s the global financial crisis, the cash drought that has sapped nearly every country … [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 - AKS, NOVL, MSFT
Chart courtesy of stockcharts ( click to enlarge )
AK Steel (AKS) - After a sharp upward move over the past six sessions, the stock failed to break through its major resistance of 12.50, and may be close to reversing course here in the short term. The outlook remains bullish and the stock appears on course to move to the target zone of the 14-15 range. At this moment contemplate fresh long positions only on a close above 12.5, with a stop-loss at 9.70.
Chart courtesy of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Daily Forex Analysis
Looking Ahead to Thursday
All times EASTERN (-5 GMT)
• 8:30am USD Unemployment Claims
• 10:30am USD Natural Gas Storage
• Tentative USD President-Elect Obama Speaks
• 3:00pm USD Consumer Credit m/mSummary
The USD reversed again after the London fix today as the majors made highs and then retreated as the end of the New York session drew closer; Cable and EURO both retreated over a big figure after posting highs near technical resistance. High prints in GBP at 1.5284 came … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How To Deal With Economic Data: Example Of The Employment Situation Report
Each month the market focuses on the Employment Situation Report. We have studied this carefully, perhaps more so than anyone else. Understanding this report requires a combination of methodological skills. These include research design, survey methodology, time series analysis, and economic forecasting.
Most observers have some, but not all, of this background. As a result, most observers make various mistakes.
Here are our main conclusions, which you do not see anywhere … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - A Daily And Weekly View Of Goldman Sachs
I wanted to highlight Goldman Sachs (GS) as it is in a structurally similar position to Caterpillar (CAT) which I mentioned in the previous post. Let’s see the confluence support below and possible resistance above and watch price closely for a break.
Goldman Sachs (GS) Daily:
Goldman Sachs broke an ascending triangle to also break resistance via the falling 50 day EMA, a remarkably bullish development given the current climate, and we’re at the precipice of finding support on … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Satyam, Fraud And The India VIX
Wednesday’s announcement that Satyam (SAY), the Indian outsourcing giant, has been engaged in a massive accounting fraud over the course of several years sent Satyam down 78% in local trading and dragged the Bombay Sensex (^BSESN) down 7.3%.
All things considered, I was once again surprised by the relatively small spike in the India VIX, which jumped 14.5% to close at 44.36.
In the chart below I have plotted the course of the India VIX since November 2007 (the index launched in … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - What's Chipping Away At Technology ETFs?
Intel Corp. (INTC), the world’s largest chipmaker, has lowered their fourth quarter outlook and dampened hopes within the technology sector and related exchange traded funds (ETFs).
The corporation said Wednesday that it would miss its revenue projection by about $500 million, a sign that PC makers and buyers are being more tightfisted than it seemed only two months ago, reports the Associated Press. The Santa Clara, CA-based company reports revenue is down 23% form one year … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Stocks Fall As ADP Report Says U.S. Shed 693,000 Jobs In December
The U.S. economy shed 693,000 jobs in December, a showing that was far worse than economists had expected and that may even have been the biggest monthly loss of jobs in more than 30 years, analysts said of a closely watched survey of business employment released yesterday (Tuesday).
The monthly ADP Employer Services (ADP) survey - which tracks private non-farm payroll employment - stunned economists, showing a surprising increase from the 476,000 jobs lost in November.
The decline … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - How Natural Gas Dispute Affects ETFs
The recent dispute over natural gas between Russia and Ukraine has many considering whether the role of natural gas and related exchange traded funds (ETFs) needs to be revised. Some view the trouble as a wake-up call for the European Union to boost energy efficiency.
The World Wildlife Fund (WWF) thinks that a fuel that is used as a weapon by some countries can no longer be promoted, reports China View.
As of Tuesday, there are a few European countries that do not have a supply of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Offbeat Predictions For 2009
In this week’s article, I wanted to follow up my article from last week - Predictions for 2009 - and this time offer some offbeat predictions for 2009. First, however, I wanted to make a few observations about making prognostications. Many times prognosticators look to the past for patterns which will repeat themselves in the future.
I myself look to history quite often, searching for parallels to what is happening today. However, I always keep in mind that famous Mark Twain quote - “History … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Small-Cap Investing: The Big 3 Screening Criteria
Forget the grim news that Alcoa (AA) is slashing costs and cutting 13% of its workforce. We all know times are tough. But the market’s a forward-looking beast. And right now, it’s doing exactly what I predicted on November 19. It’s favoring small caps over large caps.
In December the little guys put up big numbers - a 5.8% gain versus a mere 1.1% uptick for the large guys, based on the Russell 2000 (^RUT) and S&P 500 (^GSPC) indexes.
Before I get to my favorite ways to … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Pre Market: Bank Of England Decides Interest Rates
The stories, data, and stocks that may have the greatest impact during the next trading session. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Intel: 3 Concerns Plus Another
Intel Corp. (INTC) has experienced very slow growth over the last four years. This was mainly due to Advanced Micro Devices, Inc. (AMD) emerging as a competitor in the microprocessor, motherboard and chipset markets.
Costs have continued to outpace revenue growth. Against the 12.1% revenue increase in the 2004-2007 period, COGS [cost of goods sold] increased 24.9%, while operating expenses (R&D and SG&A) increased 10.8%. This brought down the operating margin from 30.1% 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 Trading Off Technicals
Taking a look at Sterling - Yen on a 4- hour chart, we see the pair trading north to begin 2009 and reacting strongly to technical levels. On a 4-hour chart from the 11/25 highs to the 12/30 lows we see the pair trade all the way up to the 61.8% retracement level and then trade lower, moving back toward the 50% level. Before that occurred, the pair had found support on the 4-200 hour moving average. When/If the pair breaks north of the 61.8% level, we could see a run up to the full … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Smart Funds Surprisingly Defensive
The “Idiot’s Market Neutral Fund” 2008 report card
I first wrote about construction of an idiot’s market neutral fund about a year ago here and I further addressed the controversy of why the technique may work here. For the year 2008, this hypothetical strategy was down -0.7%. These returns are roughly in line with the HFRX Equity Market Neutral Index return of -1.2%. (Recall that this strategy goes long 5 Morningstar top rated, low cost and no-load large cap growth funds and 5 top … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Oil Prices Could Be Ready To Rally If History Is Any Indication
Last year’s 54% drop in oil prices may have set the table for a rally similar to the one experienced in 1999, when prices doubled after a similar decline.
The so-called “forward curve of futures contracts” traded on the New York Mercantile Exchange suggests prices will rise 28% this year, according to Bloomberg News.
The current curve looks almost the same as it did 10 years ago, when Russia’s default drove oil prices to drop as low as $10.82 a barrel in late December 1998 - a … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Contango In The Crude Oil Market
The US EIA released crude oil inventories and…..surprise, surprise, inventories were larger than expected. The mechanics in the oil market have created an incentive to store oil and sell it in the future, giving rise to contango, or what some have deemed “super-contango”, in the oil markets. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Satyam Accounting Fraud Exposed
The CEO of Satyam Computer Services Limited (SAY) has acknowledged that the accounting books for the entire company was a complete sham for several years. The tide has gone out and caught Satyam with its pants down. Actually, Satyam hasn’t been wearing any pants for many years.
Pre-market, the shares are down over 90% with bankruptcy certainly to follow.
“Mr Raju admitted that the September quarter accounts for last year included a non-existent cash and bank balances of Rs50.40bn … [visit site to read more]Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - DIA: Wednesday's Trend Day Down With Flags
Wednesday gave us a clean “Trend Day Down” example that will serve as a good reference to a classic “Trend Day.” Let’s look at the DIA (DIA) and notice moving average structure, bear flags, and the trend move.
DIA 5-min Chart:
The first clue that we might have a trend day in price was the large-scale opening gap of roughly $1.25. Testing shows it’s best not to try to fade a DIA gap greater than $1.00, though there’s often a push into the gap area as we saw today. If price … [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: Bears Took Over The Day
Bears took the day as Wall Street ended lower on Wednesday. The Dow Jones industrial average (^DJI) lost 245 points, and ended with 8,769 points. The Nasdaq composite index (^IXIC) was also down, falling 53 points and finishing at 1,599 points. While the S&P 500 index (^GSPC) was closed Wednesday at 906 points after falling 28 points. The three major U.S. indexes each lost approximately 3% for the day. The Russell 2000 index (^RUT) was down 17 points, and finished at 497 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - UK's Brown To Be Bonded For Eternity
The Excellent Neil Hume has this over at FT Alphaville. Basically, as we go through this ‘rally’ (still likely to be bear market, but we’ll see) in shares, Bonds become less of a good thing.
Last year, when share prices crashed, people bought bonds. Mainly US ones, but all bonds. Despite them having no yield (i.e. effectively cash) at all. This was very handy for high spending governments that had lost control of their public finances. This includes most of the Western … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Sad Saga Of Satyam Computers
What began as a corporate governance issue back in December has now turned into a major financial scandal for the ages in India. The shares of Satyam Computer Services (SAY) has plummeted more than 90% in trading here at the NYSE Wednesday, a stark reminder that investors must always cover their backs or else get racked by the likes of Enron, Bernie Madoff or Ramalingam Raju.
Early today, Ramalingam Raju, the chairman of troubled Indian IT outsourcing company Satyam Computers (on … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Signs Steel May Have Bottomed
A Wall Street Journal article published Wednesday (1/7/09) talks about recent efforts of steel producers around the world to open up select mills, in a sign that the market for steel may have bottomed.
From their mid-2008 highs, steel and iron ore prices have slipped 40% as a weakening global economy and financial crisis has slowed demand for cars, houses and other durable goods. However, there are many factors that suggest that this commodity, so heavily correlated to economic activity, … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Apple Humming A New iTune
Apple, Inc. (AAPL) has agreed with the music publishers to allow variable pricing on iTunes. Single tracks of more popular songs will sell for $1.29, some of the library stays at $0.99 and less popular songs (older but not better) will drop in price to $0.69. In return, Apple can remove the Digital Rights Management (DRM) from songs in the catalog.
The growth in music downloads has been declining for some time as the business matures. The increase was 27% in 2008 versus 45% in 2007. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Crosscurrents In The Markets
After Wednesday’s pullback, the market has relieved much of the oversold conditions and left many individual stock charts sitting on technical support. Despite the weakness, commodity and energy names remain in intermediate-term uptrends, with more attractive entries than yesterday. While overall market fundamentals and sustained weakness in financials give reason for caution, most sector ETF charts are in a bullish orientation. SPY (SPY) has good support here:
I am watching … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Banking 101: Deposit Account Holds
Some of you may have noticed that the number of check holds being placed on deposited checks is increasing a little. Even the most liberal of financial institutions are being more cautious these days and it’s a sticky situation for both consumers and the bank or credit union. After all, no one likes to have their money held, especially around the holidays. But, there are reasons that we place certain checks on hold.
What is Reg CC?
Regulation CC is the Funds Availability Policy, or … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - US Inventories Weigh On Oil Prices
In its weekly report, the Energy Information Administration (EIA) reported substantial crude oil inventory build. The agency reported that total crude oil stocks for the week ended January 2 increased by 6.7 million barrels from the preceding week, significantly above expectations. Current stocks are 15.1% above the comparable period last year. As such, current stock levels provide for 22.5 days of supply, significantly above the year-earlier level of 18.4 days.
The above chart … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Weekly Review Of WilderHill New Energy Global Innovation Index
Each week I recap the results of the WilderHill New Energy Global Innovation Index, symbol NEX, and published by New Energy Finance Ltd. The index consists of approximately 90 stocks from 22 countries. The NEX is the tracking index for the PowerShares Global Clean Energy Portfolio ETF (PBD). For reference, the NEX has a 52 week high of 461.56.
I had not received updates from New Energy Finance for a couple of weeks over the holidays. For the record the NEX finished the year at 177.99 … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Wednesday's ETF Recap
The McClellan Oscillator was sending a warning to investors this past week as it hit a contemporary high record. This is why we had such timid positions. So we lost substantial amounts in some individual positions but overall gave back only about 1%.
As much as you want to jump in with both feet you have to pay attention to these kinds of warnings and keep most of your powder dry. Hence, we still had over 80-90% in cash.
Volume is roughly the same as yesterday while breadth of … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - 2009's US Federal Deficit Expected To Top $1.2 Trillion
Here is sobering look at the impact the various bailouts err loans, rescue packages, etc, will have on the national budget in 2009:
Graphic courtesy of the WSJ
2009’s deficit is expected to be 7% of GDP a level not seen since WWII. The disturbing thing is that during WWII the U.S. was raising money by selling bonds to its citizens (the world’s greatest bond sale), and in the present times the U.S. will have to raise that money by selling bonds to foreigners.
When you consider … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Gold And Oil: A Long Term Play On The US Economy
If Samuel Coleridge were still around today, perhaps as an economist or a banker, he would have probably been caught saying, “Money, money, everywhere, but no one wants to lend.” Yes, this has been the theme this year ever since the Fed began cutting rates and using alternative methods to thaw out the credit markets. America is literally printing money and handing it out, yet no one is happy with what they have and are refusing to lend. Banks are unwilling to issue credit and investors … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - 9 ETFs And Sectors To Watch In 2009
The last year has been hectic one for stocks, exchange traded funds (ETFs), other securities and the overall market. We can only hope that 2009 will be a lot shinier. Where can we look for some potential surprises - good or bad?
Brett Arends of The Wall Street Journal gives us some areas to keep a close eye on in 2009, for better or for worse.
Municipal Bonds: Some are paying as much as three times as much as Treasuries, on a taxable basis; they will either be a gold mine or a huge … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Changing Banking Landscape In The US
The banking landscape in the U.S. has changed drastically over the past few months. We anticipate further consolidation in the banking space, as the weaker players fail and the stronger players seek to build up their positions. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - China's Red Dragon Turns Financial Crisis Into Opportunity
The Chinese word for crisisis weiji.
But get this - when translated literally, wei means danger and ji means opportunity. So to the Chinese, a crisis - or danger - represents an opportunity.
Of course, you don’t have to actually speak Chinese to understand what this mindset means for investors.
What you’re seeing in China today is nothing less than the classic definition of a crisis presenting the profit opportunity of a lifetime.
While investors in U.S. markets are mostly … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - When Will Financial ETFs See TARP Effects?
The Treasury Department is the latest owner of preferred shares and warrants in around 208 different U.S. financial institutions, but why aren’t consumers and exchange traded fund (ETF) investors reaping the rewards yet?
Despite having injected billions into them, the Treasury Department has been so far unable to make banks lend, leaving most U.S. citizens with a frozen credit market that is being held up with taxpayer money. James Sterngold for Bloomberg says that while most of the … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - The Very Flawed Weekly Mortgage Applications Survey
US mortgage and housing are back in the spotlight like never before. Everywhere you look there are silver linings, lights at the ends of tunnels and 'mustard seeds’ of hope. This is all great - I encourage hope as a broader theme in life. But 'hope’ should not be the primary metric in an important business or investment decision - most analyst and media have based their mortgage and housing analysis primarily on 'hope’ for the past two years.
Since conforming mortgage … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Supply And Demand Imbalance In The Making
Although Treasury bond prices have come off the boil in recent days, yields remain substantially below where they were two months ago. Several factors have contributed to buoyancy in the sector, including aggressive safe haven buying and panic short-covering.
This won’t be the case for long, however. Past spending excesses, trillions of dollars worth of government bailouts, and the prospect of one or more major stimulus packages have set the stage for a massive increase in federal … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Stocks Fall Amid Employment Data And Deficit Projections
ADP report shows large job loss for the economy, 2009 deficit epected to hit $1.2 trillion while the Bank of Americaand Intel issue warnings. … [visit site to read more]
Article Published On DailyMarkets.com - visit Daily Markets - Financial News & Opinions for more great content. Переслать - Video: Sensex Shaken By Satyam Scandal
Trading in Asian markets posted mixed results with India’s BSE Sensex India making headlines as a scandal in Satyam Computer Services caused the index to plummet this past trading session. … [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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