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- Financials Account For Half Of Loss In S&P 500 Index In Past Month
While this should come as no surprise to anyone holding bank stocks, I find it interesting to note half of the losses in the S&P 500 index (^GSPC) over the course of the past month can be attributed to the financial sector (XLF).
The chart below shows that while financials have fallen almost 21% during the last month, the other major industry sectors have come close to breaking even. Remove financials from the equation and only industrials (XLI) have lost 3% during this … [visit site to read more]
Переслать - How Belt-Tightening Impacts Food ETFs
While we are preoccupied by the economy and Wall Street, food prices have been quietly creeping up and we have been forced to change our eating habits in a way that may not bode too well for agriculture-based exchange traded funds (ETFs).
In twelve months, food costs have risen 117% with products such as basic foods like beans up 45% and pork up 27%, writes Matthew Bretherton for Money. True, inflation has slowed, but that’s primarily on the falling oil and gas prices.
We throw away … [visit site to read more]
Переслать - Why These Two Investment Fears Aren't Genuine Threats
As I write, I’m here at the chapter meeting at the Intercontinental Hotel in Managua.
When we’re not eating tortillas and sipping margaritas, my colleagues and I - along with about 60 members - are surveying the global economy, making assessments about what lies ahead for world stock and bond markets.
However, two of the greatest fears voiced here are not genuine threats to your financial well-being, in my view. You’re probably hearing these opinions, too. So let me give you my take … [visit site to read more]
Переслать - Financial Models: For Everything There Is A Season
I have always been a proponent of the intelligent use of quantitative models. Examine your assumptions and make sure they hold, I said. Quant models work 99% of the time, but that 1% tail has really nasty consequences. The 1% can blow up your firm. Not only that, it can blow up the country and possibly the global economy.
There are no models for all seasons (assumptions), but there are seasons (assumptions) for models. Broadly speaking, there are three classes of quantitative models … [visit site to read more]
Переслать - Video: Asian Banks Drop On Royal Bank Of Scotland's Poor Forecast
With the Royal Bank of Scotland forecasting its biggest ever loss in UK corporate history, domestic banks in Asia followed suite and led the way for the local markets to post three-digit losses at their close. … [visit site to read more]
Переслать - Video: Stocks Fall As Banks Weaken
US Markets fall as shares for banks plunge amid losses at State Street. … [visit site to read more]
Переслать - Video: Greenback Strengthens On Inauguration Optimism
The US dollar managed to post gains in trading against th euro this session amid presidential inauguration hype and pessimism over the euro-zone economy. … [visit site to read more]
Переслать - Video: Wall Street Takes In A Breath Of Fresh Air
David Henderson, of Raven Securities says that Obama’s inauguration brings breath of fresh air and Wall Street expects the beat from the new President. … [visit site to read more]
Переслать - Gold Surges On Obama's Inauguration Day - Concerns Regarding Asset Backed Derivatives And ETFs
It is a historic day for the world with the inauguration of the 44th President of the United States of America.
Gold has rallied by more than 2% despite continuing dollar strength and oil having collapsed 7% to just over $34 per barrel (Light Sweet Crude Oil Future - Combined - FEB09 : -7.6%) . While the dollar is up on hopes that President Obama can turn around the ailing US and indeed the global economy, stock markets internationally are under pressure again today with increasing … [visit site to read more]
Переслать - Obama's First Choice
Today (Tuesday), at noon eastern standard time, we have a new president. And after all the pomp and parades and parties are over, President Obama will turn to his first major job, which is to revive our moribund economy, which means attending to getting his stimulus package through Congress.
Almost every economist will tell you the stimulus has to be massive in order to have any real impact. Even Marty Feldstein, who headed Ronald Reagan’s Council of Economic Advisors, told Congress it … [visit site to read more]
Переслать - Forex Trading: USD/JPY Approaches key support
The USD/JPY is approaching key support at the 100 and 200 hour moving averages which are converging at the 90.03 to 90.09 area. Look for support. However, a break of the level should solicit stop selling. Watch this key … [visit site to read more]
Переслать - Obama's Progress Will Be Slow
President Obama’s race against the clock starts at noon today. He must move quickly and decisively to fix the nation’s economic problems. And he must do so before the millions of people watching him today begin to lose patience.
The fact that the S&P 500 (^GSPC) is down significantly this morning points to the magnitude of the problem. Washington moves slowly and is never afraid to waste money on inefficiencies and pet projects.
Disappointing earnings news from Johnson & … [visit site to read more]
Переслать - Bank Of Canada Cuts Rates By 50 Basis Points As Expected
The Bank of Canada cut rates by 50 basis points to 1.0%
Below are the headlines from the statement.
FURTHER MONETARY STIMULUS MAY BE NEEDED
RATE NOW LOWEST SINCE CENTRAL BANK’S FOUNDING IN `34
INFLATION RETURNING TO 2% TARGET BY MID-2011
THE CANADIAN ECONOMY WILL SHRINK BY 1.2% IN 2009
WORLD ECONOMY OUTLOOK DETERIORATED SINCE DECEMBER
CANADA DEMAND ERODING ON FALLING INCOME AND WEALTH
ECONOMY TO GROW BY 3.8% IN `10 ON POLICY, CURRENCY
STABILIZATION OF MARKETS PRECONDITION … [visit site to read more]Переслать - Sterling Hits 7-Year Low Against The US Dollar
Once again UK officials managed to put the skids under Sterling. The Pound smashed the 7-year low against the Dollar and hit an all-time low against the Yen.
I’ve said before that, even if they deny it, it suits the UK’s men in charge to have a lower currency. The usual depreciation downside, higher inflation, isn’t the number one worry, but a lower exchange rate to help what’s left of its export sector would do nicely thank you.
And what better way to give a green light to the forex … [visit site to read more]
Переслать - Obama Stock Market Bounce Or Bump?
U.S. markets were closed yesterday (Monday) for Martin Luther King Day ahead of Obama’s big day out today. So will we get a Barack bounce or bump? Well we will most likely see some sort of knee-jerk rally on such a historic day. But then we will have the hangover induced by the same old same old issues of evaporating earnings, dismal future guidance, rising unemployment, continued falls in house prices and an increasing foreclosure rate.
Markets had a sobering session overnight with … [visit site to read more]
Переслать - Stock Market: Where's The Obama Bounce?
Yesterday (Monday), Macro Man offered up a view that a bearish sterling conclusion from the banking crisis in the UK and the adoption of QE by the Bank of England was misplaced.
Yesterday, Macro Man was wrong.
Flash Gordon’s peso has been the subject of a beating last endured by opponents of Mike Tyson in his prime. Cable has plumbed to its lowest levels since mid-2001 (a time in which EUR/USD was in the mid-80’s) , EUR/GBP is up 5% in less than two days, and GBP/JPY has reached new … [visit site to read more]
Переслать - Forex Trading News: GBP/JPY Hits Record Lows
The GBP/JPY continues to hit new record lows as the Europe trading session and US morning roll on. The pair has hit a low of 125.83 as the GBP has been getting hammered all session long. We’ll see how much further this pair can go with the US entering the markets in a few hours on this Presidential Inauguration … [visit site to read more]
Переслать - As Barack Obama Takes Office, He Faces Some Of The Toughest Financial Challenges In U.S. History
When President-elect Barack Obama gets sworn into office as the nation’s 44th chief executive this afternoon (Tuesday), he inherits a country that hasn’t been this badly off financially since the Great Depression.
And President Obama can anticipate considerable sleep loss, for the recession-plagued U.S. economy and the accompanying financial crisis aren’t even the only challenges his administration faces.
He has not one, but two, medium-sized wars - one in Iraq and the other in … [visit site to read more]
Переслать - Global Investing Roundup: New York Times, Satyam, Citigroup, Crude Oil
Slim Snags Bigger NYT Stake; India Widens Satyam Fraud Probe; Kirin Expanding Beverage Empire; Citigroup Reaffirms Commitment to Japan; Italian Carmaker Eyes Chrysler Stake; Oil Slips 5.4%; Costa Rica Crushed by Crisis; Brazilian Job Losses Mount;
Mexico’s billionaire media tycoon Carlos Slim plans to invest $250 million in the New York Times Co. (NYT), The New York Times reported. Slim already holds a 6.4% share in the company, which is struggling to raise capital in the face of … [visit site to read more]
Переслать - Daily Forex Analysis: US Dollar To Consolidate The Next Few Days
Looking Ahead to Wednesday
All times EASTERN (-5 GMT)10:00am USD Treasury Sec Nominee Geithner Speaks
1:00pm USD NAHB Housing Market IndexAfter a three-day weekend that saw the USD advance against the majors on Monday, the Greenback is extending its rally against most major pairs again this morning; the big mover overnight is the GBP as the rate falls to a new multi-year low. Traders report thin conditions but lot’s of two-way action as Cable falls through the 1.4100 handle for a … [visit site to read more]
Переслать - Video: GM Lowers Sales Estimates
General Motors lowered sales forecast for 2009 but says it will be in a better position to become financially viable. … [visit site to read more]
Переслать - Buyout Bid Of Terra Industries Sucks!
Note: I wrote this article last Friday and somehow forgot to hit the publish button, my apologies.
Terra Industries weighs $2.1B takeover bid: Financial News - Yahoo! Finance.
This bid by CF Industries (CF) sucks for Terra Industries (TRA) shareholders. I think the stock is grossly undervalued. I wrote here that TRA had a valuation problem when you look just at the company’s cash holdings and the value of their stake in Terra Nitrogen (TNH). The market values the non-TNH part … [visit site to read more]
Переслать - Forex Trading: GBP/USD From A Longer Term Perspective
Looking at Cable on a weekly chart from the June 2001 lows to the November 2007 highs, we can really see the drastic devaluation of the Sterling. Although there has been some significant price action over the last few months in between the 61.8% and full retracement levels, the price action and direction is clearly negative. With the Bank of England easing rates to historic multi-century lows and no recovery visible on the horizon and the European downturn to surely continue to contribute … [visit site to read more]
Переслать - Forex Trading: EUR/USD Continues Lower
Following a light volume NY session due to the national holiday, the EUR/USD continued lower with a full retracement of the October lows in sight. Downgrades to Spain’s and Greece’s debt ratings the last few days continues to point to the fact that the worst of the troubles in the European Union’s economy are still ahead of them and further easing will be necessary. Looking at our old EUR/USD 4-hour chart, the 1.23 target is ahead of us with little support in sight, whereas resistance to … [visit site to read more]
Переслать - In New York City: Bank Of America Office, Retailers And Commercial Real Estate
Just came back from NYC for a weekend vacation, but like any serious investor/trader, I had to do some walking around to see the extent of the damage in NYC. I saw firsthand the awfulness of retail and commercial RE and anyone that knows NYC can clearly tell the difference. In addition, a Bank of America (BAC) trader friend of mine and I went to the new $1 billion BAC NYC headquarters in front of Bryant Park and also took a look at the excess and extravagance that you, the taxpayers, … [visit site to read more]
Переслать - Who's Hot And Who's Not In A Slowdown?
HOT: Family Dollar Stores (FDO), Up by +60% over the last 12 months
NOT: Target Corporation (TGT), Down by -30% over the last 12 … [visit site to read more]
Переслать - Obama Day - No Way Up From Here
After the share price crash yesterday (Monday), today will be the turn of an Obama rally. Perhaps, however if there was a market in Obama shares, now would be the time to sell.
After all, the City mantra goes ‘Buy the rumour, sell the news.’
Obama is being feted everywhere in the world in all media, full stop. I have read nothing for days that is not positive. I wish him well, but by pure logic alone, this must be the high point. How could he get more popular?
He has a truly … [visit site to read more]
Переслать - United Kingdom Launches Second Bank Rescue Package
The United Kingdom earlier today (Monday) announced a second bank rescue package to shore up the nation’s ailing financial institutions and boost lending. The package includes insurance for banks against further credit losses, guarantees for asset-backed securities, and the purchase of private sector assets.
The centerpiece of the plan is an insurance program, called the Asset Protection Scheme, which will guarantee U.K. banks’ riskiest assets - specifically, those backed by mortgages … [visit site to read more]
Переслать - US Investor Sentiment: Same Story, New Week
The “dumb money” sentiment indicator remains neutral on the equity markets, and the “smart money” has turned more bearish. It should be noted that this is the sixth week in a row where the “dumb money” is neutral, and this is not a scenario that is generally supportive of higher prices especially with prices on the S&P 500 (^GSPC) under their 40 week moving average. The ideal situation for higher equity prices would be for the “smart money” to be bullish and the “dumb money” bearish … [visit site to read more]
Переслать - Companies That Lobby Heavily have Outsized Stock Market Returns
I came across a shocking study that demonstrates just how effective those lobbyist dollars are in translating payments to politicians into profits for individual corporations. A study by Hui Chen, Leeds School, Univ. of Colorado, David C. Parsley, OGSM, Vanderbilt University, Ya-Wen Yang, University of Miami took a look at the lobbying activities of publicly traded companies between 1998 to 2005 and created two different portfolios: One with heavy lobbying and the other without.
The … [visit site to read more]
Переслать - The British Pound: 20% Undervalued Against Its European Neighbours
Another day, another bailout. This time it’s on the east side of the Atlantic, where the UK authorities have organized another capital injection/loan guarantee program for (some of) Britain’s troubled banks.
Last Friday, the feel-good rally in equities and sterling was rudely interrupted by a late-session swoon by some of the UK banks deemed most vulnerable, a turn of events sufficiently troubling that “Flash” Gordon Brown and his Darling sidekick have organized another … [visit site to read more]
Переслать - Classic Fibonacci Clusters In The S&P 500 Index
Let’s take a moment to use traditional Fibonacci retracement methods to find potential price clusters off the November lows as an exercies in multi-level Fibonacci Confluence.
S&P 500 (^GSPC) Weekly Chart:
Sometimes you can get more insight from “Clusters” of Fibonacci Retracements than you can single retracement grids.
I’m using the 'classic’ method of Fibonacci which has you draw from absolute price highs to absolute price lows. This is not the way I would do … [visit site to read more]
Переслать - Circuit City: R.I.P.
So as I’m sure everyone knows by now: Circuit City is going out of business and is going to liquidate it’s remaining stores. At this point I don’t have much more to say on the subject aside from the following:
The consumer loses by only having one major consumer electronics retailer left in the marketplace, as it leaves Best Buy without a competitor for many of its higher-end offerings and may very will give the consumer fewer choices product wise.
Bad management is the true … [visit site to read more]
Переслать - ETF Update: Can Networking Stocks Bounce Back?
Here we discuss a combination of fundamental analysis and system-based trading. Both are affected by events, but in different ways.
Our fundamental viewpoint, presented in our 2009 Outlook article, is relatively bullish. Many stocks are priced for a depression. We believe that economic policies, both those in the pipeline and those on the verge of passage, will have a significant impact. When the data convince people that there will not be another Great Depression, the DJIA … [visit site to read more]
Переслать - A Far More Fitting Epitaph For US Big Banks
Until now, the desperate machinations by central bankers, regulators, politicians, and industry officials have been characterized as “bailouts” and ”rescues.” Yet the realists among us know that none of those terms accurately describes what is going on.
However, in a commentary for the Financial Times, “Prepare to Bury the Fatally Wounded Big Banks,” Frank Parnoy, a professor at the University of San Diego and author of the forthcoming book, The Match King: Ivar Kreuger and the … [visit site to read more]
Переслать - Barclays Confirms Good Guidance
On Friday, Barclays PLC (BCS) confirmed its guidance for the 2008 year, stating that pretax profits after all costs, impairment charges, and market valuation losses, is expected to be well ahead of the £5,300 billion consensus. Our estimate for 2008 full-year pretax earnings is £5,437 billion, which looks as though it will also fall short of official BCS guidance. This announcement by Barclays was an attempt to calm market jitters and followed a sharp drop in its share price on … [visit site to read more]
Переслать - China Decoupling And The Trade Of The Century In The Bond Market
Some argue that this financial crisis will lead to China “decoupling” from the US economy; meaning it will need to find other buyers of its exports, and will not be able to continue buying US Treasury bonds, which have the affect of propping up the US dollar’s value. Instead, the decouplers argue, China will need to invest in increasing its own consumption capabilities. This will have the effect of decreased buying in the Treasury bond market while the supply of Treasuries expands as US … [visit site to read more]
Переслать - Royal Bank Of Scotland's Big Loss
Monday, The Royal Bank of Scotland Group plc (RBS) announced in its fourth quarter trading update that it expects to post a full-year loss for 2008 of £7-8 billion pounds, before an extraordinary goodwill impairment charge of £15-20 billion.
In addition, there will be an impairment charge of £17-19 billion related to Fortis’s investment in ABN AMRO, entirely attributable to minority interests. We note that goodwill impairment charges have no impact on regulatory capital … [visit site to read more]
Переслать - Six Dividend Stocks Raising The Bar
The stock market averages keep responding in a way that shows investors are expecting the worst in terms of profitability for most major US and Global corporations. Some pundits are getting bullish, while others are getting increasingly bearish. The odds of both camps being correct are slim to none. With this confusing information, what are investors supposed to do?
My main recommendation for buy and hold investors is to ignore all the day to day chatter and forecasts, since noone can … [visit site to read more]
Переслать - Is A Reversal Brewing In The CRB Commodity Index?
There is a multi-swing positive momentum divergence and perhaps a new set of higher highs and higher lows developing in the CRB (Commodity) Index - but might this lead to a reversal in price? Let’s look:
$CRB Commodity Index Daily:
We have a confirmed and persistent downtrend in price as evidenced by lower lows and lower highs as well as the “most bearish orientation” possible for the key daily EMAs.
However… there has been subtle, recent potential strength in the index off … [visit site to read more]
Переслать - Why Coal ETF's Future Could Be Bright
Coal and the exchange traded funds (ETFs) that track this fossil fuel, plays a vital role in our economy and has the potential to continue to do so in the future.
Major Source of Fuel. Of the roughly one billion tons of coal produced by American mines each year, 90% is used for electricity generation and in some way or form, every American consumes approximately 4 tons of coal a year.
Its Reputation Precedes It. The use of coal does have its downsides. Coal produces more … [visit site to read more]
Переслать - Get Rich Over Time By Following Warren Buffett's Lead
When one of my relatives was in their 30s, they read a book on weight loss that said if you want to get “skinny”, then do what “skinny people” do.
At the time, I was very skinny. So they followed me around for a month and ate when I ate, at the amount that I ate and stopped eating when I stopped eating.
Guess what? They started losing weight because they started picking up the habits of a “skinny person”.
Well, investing in the financial markets is much the same. Want to get rich over … [visit site to read more]
Переслать - Ruble Hits 11-year Low As Russia Accelerates Devaluation
The Russian ruble fell yesterday (Monday) to levels not seen since the 1998 banking crisis, as the nation’s central bank devalued the currency for the sixth time in seven days. The devaluation is seen as a sign of further deterioration in the Russian economy and comes despite government efforts to orchestrate an orderly retreat.
A drop in the price of oil, the war in Georgia, and a gas-export dispute with the Ukraine have put a huge dent in the Russian economy, which now teeters on the … [visit site to read more]
Переслать - 7 Habits To Financial Success - Part 6
We’ve covered quite a bit over the last five posts. Hopefully you can see how incorporating some of these habits can be beneficial to your finances, at the very least, how they can be beneficial to your life in general. So, let’s move on to the next habit.
Habit # 6 - Synergize or The Habit of Creative Cooperation
The enemy of the best is the good.- Voltaire
Don’t expect anything original from an echo.
- Dune Muncy
This particular habit has a lot of great quotes in it, and … [visit site to read more]Переслать - Goldman Projects $2 Trillion In U.S. Based Lending Losses
A recent Goldman Sachs (GS) analysis predicts that banks worldwide are slated to lose about $2 Trillion from various U.S. based loans:
Graphic courtesy of the WSJ
An even scarier notion is the fact that less than 1/2 of the projected losses have been realized so far, not to mention the fact that the so called “experts” have been several steps behind reality with many of their predictions to date, so who is to say that they’re not under-estimating things now?
The graphic comes … [visit site to read more]
Переслать - 7 Habits To Financial Success - Part 7
Here’s the final part to the 7 Habits series. I hope you’ve enjoyed it thus far, and have found these habits useful to you as you seek out your financial goals.
Habit # 7 - Sharpen the Saw or The Habit of Renewal
Stephen Covey named this habit after a story he once heard.
One day a man walking through the forest came upon a logger (lumberjack) who was sawing away at a large tree and not getting very far at all. The man approached the logger as he stopped for a moment to rest and … [visit site to read more]Переслать - Apple Rating Stays A Hold
Apple, Inc.’s (AAPL) CEO Steve Jobs has taken a temporary leave of absence to focus on health issues. We believe the company’s day-to-day operations will not be affected as its fundamentals remain intact.
Apple’s 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.
We remain concerned about slowing iPod sales as the category matures, … [visit site to read more]
Переслать - The Last Bastion Of The U.S. Economy Is In Full Retreat
In previous economic slowdowns, it was always consumer spending that kept the American economy afloat. Millions of Americans continued shopping at malls, buying cars, ordering gadgets through the mail and TV and otherwise putting their wallets and purses on the line. It was always the brave American consumer rushing unto the breach to beat off the demons of economic gloom and uncertainty.
But not this time, it seems. Retail sales have now declined for the sixth straight month.
The U.S. … [visit site to read more]
Переслать - Zimbabwe: Who Wants To Be A Trillionaire?
BBC NEWS - On Tuesday, a 50 billion Zimbabwean dollar note was issued (see above), less than a month after a Z$500m bill was released. Prices can double every day, and food and fuel - for those without US dollars - are in short supply. Now Zimbabwe is introducing a new Z$100 trillion note, currently worth about US$30. Other notes in trillion-dollar denominations of 10, 20 and 50 are also being released to help Zimbabweans cope with hyperinflation.
However, the dollarization of the … [visit site to read more]
Переслать - The US Recession In Perspective
From the Minneapolis Fed:
The economy is in recession. But how bad is it? How does this recession compare to previous recessions? This page places the current economic downturn into historical (post-WWII) perspective. It compares output and employment changes during the present recession with the same data for the 10 previous recessions that have occurred since 1946.This page provides a current assessment of “how bad” the recession is relative to past recessions. It will be updated … [visit site to read more]
Переслать - US Stock Market: We Are Very Very Near A Critical Direction Point
I just looked at the market and had a flashback.
Remember when you were a child, sitting on the merry-go-round, and everything was pleasant until that one kid thought it would be funny to push it faster and faster? And it’s tolerable for about 5 seconds, prior to the nausea? Then you just want to cry.
That’s how I feel now.
The maniacal laughter that usually accompanies my reading of the news headlines is currently escaping me, as there is not a shred of good news out there, save for … [visit site to read more]
Переслать - America's New Stimulus Package
The stimulus package is likely to help companies like Emerson Electric (EMR), General Electric (GE), Jacobs Engineering (JEC), Chicago Bridge & Iron (CBI) and Caterpillar (CAT).
We now have a rough outline of what the economic stimulus package will look at. The total size is set at $825 billion. In general I like the plan, with the exception of the tax loss carry backs, but I wonder if it will be enough to dig us out of this gigantic economic hole we are in.
Parts … [visit site to read more]
Переслать - Forex Trading: Beneficiaries Of GBP And EUR Weakness Are The Yen And US Dollar
The beneficiaries are the dollar (USDis up against the CHF, EUR and GBP) and the JPY. GBP/JPY and EUR/JPY are moving lower today. The GBP/JPY has resistance now at the 131.63 level. The 100 hour moving average and the 61.8% retracement level is centered around this level (see chart above). This should provide bears the confidence to sell against, with stops if the price moves back above the level.
The EUR/JPY is a llittle more supported. The pair is testing the 100 hour … [visit site to read more]
Переслать - Stocks Tick Higher After UK Bailout
Equities were becalmed on Friday after a week in which Citigroup (C) and Bank of America (BAC) lost nearly half their market capitalistion. Size it seems isn’t everything these days. As was the case in autumn 2008, it’s very hard for indices to make much progress if financials remain a drag.
Today’s (Monday) Market Moving Stories
The UK ITEM club is forecasting the UK economy will contract by 2.7% in 2009 and 0.5% in 2010 with unemployment set to rise to 3.25 million by the end of … [visit site to read more]
Переслать - US Banks: A (Joint) Venture Into A Changing Business Model
Prepping to release earnings earlier (which were moderately encouraging), J.P. Morgan (JPM) CEO Jamie Diamond came forward with a bleak statement regarding the economic and financial sector outlook. Diamond’s comments focused on the continued deterioration of consumer-oriented businesses. He expressed doubt that the “industry excesses in areas such as highly leveraged lending and securitization” would ever recover. The conclusion seemed to be that the banks will have to largely … [visit site to read more]
Переслать - An Open Letter To President-Elect Barack Obama: How A Regulatory Makeover Can Fix The Financial Crisis
Dear Mr. President-Elect:
The people of the United States have spoken. Their collective voice resonates loudly and overwhelmingly in praise of your vision and promises for America the beautiful.
Over the many voices, the chorus of a common refrain resounds: There is nothing we as a people cannot do if inspired by confidence in our president, honest and transparent democratic government, and equal opportunity in pursuit of our happiness.
Fundamental to our pursuit of happiness is … [visit site to read more]
Переслать - Gold Market Update: Inauguration Of Obama Generates Hope Amidst Monumental Challenges
Gold rallied on the open in Asia to over $845/oz overnight before falling on a stronger dollar, then rising again in early morning trade in Europe before falling again to $838/oz, some $3/oz below its close on Friday.
Gold fell 1.5% last week but surged 4% on Friday alone (silver was down 0.5% for the week but surged over 7% on Friday). As has been the pattern in recent years, stock markets fell by far more than gold and silver last week with the S&P 500 (^GSPC) down 4.5%. The … [visit site to read more]
Переслать - UK Bank Bailout: Out Of Ammo
There are a raft of initiatives out this (Monday) morning from HM Government. We looked yesterday at the Insurance idea. Pondering further overnight I see this as a great opportunity for the bankers to take the taxpayers to the cleaners. the premiums will be too low and the losses more than expected.
In effect, the Government will become like AIG (AIG) and the monoline insurers - see here for a good, if technical, description. That worked well as a business model….
However, … [visit site to read more]
Переслать - Forex Trading: EUR/USD Hits Session Lows
The EUR/USD dropped to session lows behind news that the Spanish sovereign debt rating was cut by the S&P. The pair found some support as the 100H Moving Average came into the picture as seen … [visit site to read more]
Переслать - 10 Potential ETF Surprises In 2009
Now that 2009 is off and rolling, many strategists have thrown in their two cents on what is going to happen with the markets, stocks and exchange traded funds (ETFs). Byron R. Wien, Chief Investment Strategist of Pequot Capital Management offers the following 10 surprises we could be seeing in 2009:
In anticipation of a market rebound during the second half of 2009, the S&P 500 will rise to the $1,200 mark, the SPDR S&P 500 (SPY) is a possible play.
As paper value … [visit site to read more]
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