11/13 Daily Markets

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. Daily Markets - Your Views Make News Barrick Shuts Hedge Book As World Gold Supply Runs Out November 12, 2009 at 11:01 pm Ambrose Evans-Pritchard, International Business Editor of the UK Telegraph, who I’ve been reading for years, reports, “Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years may have further to run.” There is no supply glut! Barrick was warned years ago not to hedge the … [visit site to read more] The Warren Buffett Of India November 12, 2009 at 10:01 pm As in early 20th-century America, the Indian stock market is still finding its sea legs. When we were in Mumbai a few weeks ago, I asked a local analyst who are the Warren Buffetts and Peter Lynches of India. He said there really aren’t any. The leading stock market speculators are men of ill repute. They have shady reputations for manipulating markets, just as early U.S. speculators did. And there are lots of speculators. Optimism prevails. In this, it’s no different from the early … [visit site to read more] Can Fancy Cell Phones Rescue The Economy? November 12, 2009 at 9:01 pm No matter how bad things get, folks are still shelling out big bucks for iPhones and Androids. Crazy? Maybe. An opportunity? You bet! Once again, I must start this column with a confession: The entire recession just might be my fault. At least that’s the impression I get from friends, family and co-workers. Oh, and also from my telephone service provider. You see, we refuse to get new cell phones. Oh the Shame! Please understand: We didn’t even have cell phones until my wife … [visit site to read more] The World Is Trying To Keep The US Dollar From Tanking November 12, 2009 at 8:20 pm Governments around the world stepped up efforts to stem the U.S. dollar’s slide, as officials grow increasingly concerned about the impact of the weak greenback on their nascent economic recoveries. Thailand, South Korea, Russia and the Philippines have been snapping up dollars this week in order to hold down the value of their currencies, traders said Wednesday, as the U.S. currency wallowed near 15-month lows. In Latin America, Brazil’s finance minister said the country’s currency … [visit site to read more] One View Of Market's Future November 12, 2009 at 8:01 pm I first started writing about the critical area between 1150-1200 on August 7 (wow, doesn’t seem like 3 months ago), the day the Index broke through 1000 for the first time since the March 9 bottom and closed at 1010.48, or 7.6% below today’s close. In “Difference Between Correction/Consolidation and Reversal” I wrote, “The recovery from the Tech Bubble Crash saw a major correction that lasted most of 2004 between 1050-1150; my interim target for the first one …… is the 1150-1200 … [visit site to read more] Is The US Stock Market Forming A Major Top? November 12, 2009 at 7:35 pm Every time a major stock index approaches a new high, invariably we can find calls that “a major top has already been made”. We have seen several such articles in recent weeks. While these incessant calls for a major top may be 100% accurate at the present time, a review of historical major tops gives little support for such a claim. A short-term top within a major bull market can occur at anytime, but major tops do not occur very often. Fundamentals Are Improving: We also have to consider … [visit site to read more] Plummet In US Stock Market Volume: Where's All The Institutional Demand? November 12, 2009 at 7:32 pm Another brief move above S&P (^GSPC) 1100 was quickly rejected again Thursday morning, with traders sensing this market is running out of steam at resistance. The eight-day upside romp covered over +7.5% from low to high, yet volume absolutely evaporated on the advance. Healthy markets need fuel (volume) in order to continue moving upward; since October 30th SPY volume has plummeted over 50%. This is unbelievable - where is all the institutional demand? Eventually the feeble upside … [visit site to read more] Apple Surpasses Nokia In Smartphone Profits - The First Time Ever November 12, 2009 at 7:28 pm According to a recent Strategy Analytics research report, Apple Inc. (AAPL) surpassed Nokia (NOK) by generating the highest total operating profit in the industry for the third quarter of 2009. The research firm estimated Apple’s operating profit for iPhone handset units to be $1.6 billion, compared to Nokia’s (the number 1 handset maker) just $1.1 billion, beating the latter for the first time. Apple entered the mobile phone market with its iPhone in 2007. The company has … [visit site to read more] Stock Picks For Friday: Curis, China BAK Battery And DryShips November 12, 2009 at 7:22 pm ( click to enlarge ) Curis (CRIS) is trading in a tight range between $2.10 ( 13 dma ) and $2.21 ( 50 dma ). I think the market is waiting for fresh news to define the trend, however if the stock breaks the 50-day moving average , then that is a bullish sign as higher prices. From a technical point of view, with KD going up the stock is probably ready for a rally. Short term traders can go long if stock breaks the level of $2.21 ( 50 dma ) and thereafter stock can target the level … [visit site to read more] Another Debt Record November 12, 2009 at 7:16 pm The U.S. government will finish its historic streak of debt sales today with a record $16 billion offering of 30-year bonds. This will pile on top the $65 billion in 3-year and 10-year paper auctioned earlier this week, both records in their own right. It’s worth noting that Monday’s auction for 3-year debt was met with ravenous, near-record demand and that Tuesday’s 10-year sale met a bid-to-cover ratio of 2.8… historically high for the 10-year, but not even close to the 3.3 ratio … [visit site to read more] Watch The Daily Divergences In Platinum Prices November 12, 2009 at 7:03 pm Platinum Prices?  What does that have to do with stocks?  For one, the recent price pattern in Platinum resembles the recent 'run-ups’ in stock prices. Let’s take a quick look at the daily chart of platinum futures (index) to note the negative divergences setting in under the recent 2009 price highs and levels to watch to confirm a turn… or trend continuation and over-ruling of these pesky divergences. This is just a quick look to note the recent swing highs and the … [visit site to read more] Commodity Companies Index Up 214% YTD! November 12, 2009 at 7:01 pm Up until now investors, analysts and newsletter writers have relied on the price performance of the commodities themselves (such as gold, silver, crude oil, etc.), the Reuters CRB Commodity Index or the HUI, XAU, GDM or CDNX indices to determine the health, performance and trends in commodities. Fortunately, for all concerned, a new index has been introduced that provides a much more all-encompassing mix of companies associated with a wide variety of commodity-related products. It … [visit site to read more] Schwab Changes The ETF Landscape November 12, 2009 at 7:01 pm I’ve been talking for years about the way exchange traded funds (ETFs) are changing the investment landscape. Yet sometimes I’m still startled to see the world change in front of my eyes. That’s exactly what happened last week when Charles Schwab launched its first four in-house ETFs. Are these new funds revolutionary? Not really - all are core holding ETFs in areas already well-covered by other sponsors. What’s new and unusual is Schwab’s bold move to offer its online brokerage … [visit site to read more] Cartoon: Bubble Forming November 12, 2009 at 6:01 pm Source: Tom Toles, November 11, … [visit site to read more] Has Las Vegas Real Estate Turned The Corner? November 12, 2009 at 5:01 pm Home sales, median prices rise in valley - Business - ReviewJournal.com. Median prices started to increase for most of California in late spring 2009. Las Vegas prices have continued to erode in the face of high inventory and a serious jobless problem. In October, the LV real estate market turned positive for both number of sales and prices. Sales in October were up 5% from September and 30% higher than a year earlier. Of the 21,000 units inventory listed, only 8,000 are available … [visit site to read more] Video: 11/12 Oil Prices Decline On Stockpile Rise November 12, 2009 at 4:59 pm Oil prices declined this session as crude stockpiles rose more-than-expected last week. … [visit site to read more] Video: 11/12 Wal-Mart Reports 3Q Earnings Gain November 12, 2009 at 4:57 pm Retailer Wal-Mart announced Wednesday that its 3Q earnings came in better-than-expected. … [visit site to read more] Video: 11/12 NYSE Closing Bell Market Monitor: WMT, HPQ, XOM November 12, 2009 at 4:55 pm The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more] Stocks Reacting Bearishly To The US Jobless Claims November 12, 2009 at 4:45 pm Employment in this economic environment has been a very sensitive subject for both politicians, investors and most importantly job-seekers. The economic issue is first and foremost on the mind on many Americans, but it is also causing political upheaval in Washington as the slowing of job losses can be used as an argument only so many times before political capital and goodwill is eroded completely. Jobless claims data out today showcased that first-time claims came in at just over … [visit site to read more] Bullish Dollar Index ETF (UUP) Intrigues Once Again November 12, 2009 at 4:27 pm UUP - PowerShares DB US Dollar Bullish Fund - A pair of bullish risk reversals on the PowerShares US Dollar Bullish Fund suggests today’s sharp rally for the dollar will likely continue over the next several months. We observed massive bullish plays on the UUP over the past couple of weeks, some tied to machinations of whether or not the fund had enough shares in circulation. But today’s activity predicts far more extreme movements in the price of the dollar index. The UUP is current up … [visit site to read more] What Do CA, AZ, FL, IL, MI, NV, NJ, OR, RI, And WI Have In Common? November 12, 2009 at 4:01 pm No, these states are not holding a Powerball Lottery . . . although the states themselves could use the winnings. These states, amongst others, are barreling toward economic disaster.  Don’t take my word for it. None other than the Pew Center on the States produced a report entitled Beyond California: States in Fiscal Peril: (High five to MC for bringing this to our attention) California’s financial problems are in a league of their own. But the same pressures that drove the Golden … [visit site to read more] China ETFs: Are Country's Issues A Barrier? November 12, 2009 at 4:01 pm Observers are noting the rise of China while other countries are languishing. Still, China’s economy and related exchange traded funds (ETFs) could be hindered if the country’s domestic issues are not addressed. Many politicians and intellectuals feel that the balance of power is shifting from the United States to China and some believe that the co-operation of the near-equals could solve world’s woes, according to The Economist. China is the world’s biggest holder of American debt, … [visit site to read more] The US Dollar: Beggar My Neighbor, Or Myself? November 12, 2009 at 3:01 pm The headline in today’s Wall Street Journal says “World Tries to Buck Up the Dollar.” The headline writer no doubt savored the opportunity to use “buck” for its double meaning even though it might have been more accurate to say “World Tries to Hold Down It’s Currencies.” That would have gotten closer to the world’s motivation. The second paragraph acknowledges this implicitly when it says “Thailand, South Korea, Russia, and the Philippines have been snapping up dollars this week in … [visit site to read more] The 10 Rules For Successful Investing November 12, 2009 at 2:02 pm With all the financial woes in the global economy, the worst thing an investor can do is to “freeze up.” With all the ups and downs in the market, it’s all too easy for investors to allow their emotions to take control. That’s when the smallest mistakes turn into the biggest mistakes. There’s one antidote for this problem … remembering a few basic rules. Just embrace the 10 ideas that follow and you’ll be in line to make some serious money in the months ahead. Rule Number 1: Invest … [visit site to read more] Commercial Real Estate Rebounds In Canada November 12, 2009 at 2:01 pm Canada’s commercial real estate market is rebounding faster than many in the industry projected just a few months ago. The market unexpectedly caught fire in September as access to capital improved and buyers waded into the depressed market, and a full-blown recovery seems under way in major segments of the market. “Things have changed,” said PwC partner Frank Magliocco as he released the report yesterday. “Things just took off.” There have been three deals worth more than … [visit site to read more] Video: 11/12 Dollar Strengthens On Data November 12, 2009 at 1:44 pm The release of improving US jobless claims figures have paved the way for a revitilization of the US dollar this session. … [visit site to read more] US Stock Prices And Unemployment November 12, 2009 at 1:17 pm I normally have a live and let live attitude toward other people’s market analysis. Once in a while, I come across research that seem so misguided that I feel compelled to speak up. A blogger recently posted an intriguing bit of analysis on a discussion group that I subscribe to and it was entitled 10% Unemployment: A Remarkable Signal for Stocks. He shows the chart below and concluded that “[h]istorically the stock market has performed exceptionally well after unemployment has … [visit site to read more] Video: 11/12 Market Movers: AMD, INTC, JNPR, HPQ, COMS, BNI, MRK November 12, 2009 at 1:16 pm The latest news and information on U.S. stocks that are moving the market. … [visit site to read more] Video: 11/12 Dollar Decline Needs To Reverse November 12, 2009 at 1:11 pm Floor trade David Henderson shares his thoughts behing today’s relatively flat market and explains the effect the weak dollar has had on the market. … [visit site to read more] We'll Never See $50 Oil Again November 12, 2009 at 12:38 pm Analysts judge oil companies on two key statistics - reserve replacement costs and recycle ratio. In other words, how much it costs a company to replace each barrel of oil it produces and how efficiently the company does it. Analysts treat lavish exploration budgets as a black mark. So as I explained last week, many oil companies have learned to perform a little reserve shell game… You see, while oil exploration is expensive, natural gas exploration isn’t. Buying up gas shale … [visit site to read more] Stock Market Movers: Dow Chemical Company, CTrip.com, Green Mountain Coffee Roasters November 12, 2009 at 12:14 pm GMCR - Green Mountain Coffee Roasters, Inc. - Shares of specialty coffee maker, Green Mountain Coffee Roasters, are 9.5% lower this morning to $68.94 as of 9:50 am (EDT). The Vermont-based firm doubled its profit in the fourth quarter, earnings 34 cents per share as compared with 18 cents in the previous year. Green Mountain’s share price slipped today because the firm stated first-quarter earnings are likely to disappoint. GMCR proffered first-quarter profit guidance of 11-15 cents per … [visit site to read more] Hewlett-Packard to Acquire 3Com November 12, 2009 at 12:03 pm Hewlett Packard Company (HPQ) is planning to take over networking gear maker 3Com Corporation (COMS). The acquisition, valued at $2.7 billion, enables HP to challenge networking leader Cisco Systems Inc. (CSCO) on its own turf. HP’s current networking products, sold under the ProCurve brand, generate around $1 billion in annual sales (less than 1% of the company’s total revenue). The product line lacks competitive data center switches, which makes it hard to take market share … [visit site to read more] PowerShares Files For CEFs That Could Become ETFs November 12, 2009 at 12:01 pm Recently, PowerShares filed for an auto-conversion closed-end fund, or “ACCE” fund, which is essentially a closed-end fund (CEF) that automatically converts into an exchange-traded fund (ETF) if certain discount-to-net asset value criteria are met. PowerShares filed for three additional timely-themed ACCE funds earlier this fall: PowerShares Bank Loan Opportunity ACCE Fund PowerShares Preferred ACCE Fund PowerShares Commodities Opportunities ACCE Fund PowerShares filed for … [visit site to read more] Risk Aversion Creeps Back Into Currencies November 12, 2009 at 11:59 am Last night I was doing some writing, and before I put the laptop to bed for the night, I checked the currencies, and while they had drifted in the early Asian session, the Big Dog, euro (EUR) was still trading above 1.50, and the Aussie dollar (AUD) had set a 15-month high of 0.9368… But when I turned the currency screens on this morning after arriving to a pitch-black office, the euro had given back about 0.5 cents, and so had the Aussie dollar. So, it was my mission to find out what … [visit site to read more] "Nobody Has Ever Seen This Market" November 12, 2009 at 11:25 am “I’ve seen this market before” is a very commonly used phrase by Wall Street professionals to compare and contrast different periods. For example, when the Treasury yield curve is steepening or flattening, many market pros will project what will happen in different segments of the market based on discounting cash flows under the steepening or flattening scenario. Similarly, when credit spreads are in a widening or tightening trend, market pros will project how higher or lower rated … [visit site to read more] China: Government Planning At Its Worst November 12, 2009 at 11:16 am Nice work from Al Jazeera highlighting the lengths China has gone to in order to sustain its economic growth. China may have a very bright future, but investors ignore China’s expensive stock market, urban real estate bubble, and manufactured economic statistics at their own peril. The advantage to centralized decision-making is the speed with which decisions can be made. The downside is clear in the following … [visit site to read more] Video: 11/12 Rough Session In Asia November 12, 2009 at 11:14 am The major Asian/Pacific markets declined this past trading session as domestic shares continued to fall. … [visit site to read more] Bill Clinton's Thoughts On Obama's Tax-And-Spend Policies November 12, 2009 at 11:12 am “It’s illegal, but I’ll do it anyway.” Famous last words by former President, Bill Clinton. Last month, I had a chance to talk one-on-one with Clinton at the annual International Crisis Group Award Dinner at the Waldorf Astoria Hotel in New York City. I was the guest of Frank Holmes, president of US Global Funds and co-chair of the dinner. It was my second meeting with Clinton. The first was after the 1996 presidential debates when I jogged with him for 30 minutes on a beach in San … [visit site to read more] Australian Dollar: Caution November 12, 2009 at 11:10 am Update on supports and resistances. … [visit site to read more] Canadian Dollar: Caution November 12, 2009 at 11:10 am Update on supports and resistances. … [visit site to read more] Tight Inventories Limiting Sales November 12, 2009 at 11:01 am Business have trimmed inventories significantly–and that’s starting to bite them in the sale.  Here’s the raw data: There was good reason to cut inventories: sales were falling.  This is a recession practice I recommend in Businomics.   However, the tight inventories are now limiting sales gains. Here’s a personal example.  I bought a car last spring, and now I want snow tires and wheels for it.  But the tire store I love did not have my size in the type of tire I … [visit site to read more] USD/CHF Moves Through 200 Hour Moving Average And 38.2% Retracement Resistance At 1.0150 November 12, 2009 at 10:43 am The USDCHF just broke through the 200 hour MA and the 38.2% retracement at the 1.0150.  Stops are being triggered and this should lead to further upside momentum to the the 1.0186 level.  Look for support now down to 1.0137 (old high from today).  A break would not be welcomed by intraday … [visit site to read more] Gold Rally Shows No Signs Of Slowing Down November 12, 2009 at 10:38 am Fundamentals Gold futures have shown no signs of a let-up, setting yet another record high yesterday on a weaker Dollar and central bank buying. Central banks have shown an interest in diversifying their holdings from currencies to hard assets, as evidenced by India’s large purchases. Sri Lanka has been a buyer of Gold, and Vietnam is allowing imports of Gold for the first time in over a year to curb rampant speculation domestically. These purchases may fill some of the void created by … [visit site to read more] Video: 11/12 NYSE Opening Bell Market Monitor: WMT, GE, UTX, HPQ, COMS November 12, 2009 at 10:38 am The latest in news, commentary, and information on what’s moving the US equities markets. … [visit site to read more] Swiss Franc: The Downside Prevails November 12, 2009 at 10:10 am Update on supports and resistances. … [visit site to read more] Japanese Yen: Under Pressure November 12, 2009 at 10:10 am Update on supports and resistances. … [visit site to read more] British Pound: The Downside Prevails November 12, 2009 at 10:10 am Update on supports and resistances. … [visit site to read more] Euro: Under Pressure November 12, 2009 at 10:10 am Update on supports and resistances. … [visit site to read more] Jobless Claims Fall To 42-Week Low November 12, 2009 at 9:50 am The short view: The long view: WASHINGTON - Fewer Americans than anticipated filed claims for jobless benefits last week, signaling the worst employment slump in the post-World War II era is easing as the economy expands. Initial unemployment claims fell by 12,000 to 502,000 in the week ended Nov. 7, the lowest level since January, Labor Department figures showed today in Washington. The number of people receiving jobless benefits dropped, as did those getting extended … [visit site to read more] U.S. Senator Chris Dodd's Plan For Financial Reform As Ambitious As It Is Antagonistic November 12, 2009 at 9:50 am U.S. Sen. Christopher Dodd, D-CT, on Tuesday released an 1,136-page draft bill for sweeping financial regulatory reform that will create several new protection agencies, increase regulation of credit agencies and derivatives, and alter the role played by the U.S. Federal Reserve in the financial system. And that’s just the beginning what will be a long and contentious battle to get the bill past the Senate, the House of Representatives and the Obama administration. Lobbyists, large … [visit site to read more]   This email was sent to gatdemit001@gmail.com.  Create Your Account Don't want to receive this feed any longer? Unsubscribe here.