Daily Markets - Copper Signals Bright Outlook For The Economy
Daily Markets - Copper Signals Bright Outlook For The Economy |
- Copper Signals Bright Outlook For The Economy
- Hot Stock News For Wednesday 28 July: Citigroup, Bank Of America, Wells Fargo, Broadcom, Disney , Norfolk Southern, Cephalon
- Gold Reaching Levels More Bearish Than At The February Bottom
- Gold Breaks Below Up Trendline
- Forex Trading: Dollar Recovers After Consumer Confidence Report
- Were The EU Stress Tests For Real? Stock Price Volume Says Otherwise
- UBS Shares Gap Up On Positive Earnings Surprise
- Crude Oil Falters Under $80, Gold Breaks Down To New Lows
- US Housing Market Still Shaky Despite May’s Home Price Improvement
- Three Tech ETFs To Play Apple And Microsoft
- Tax Code Goof: BP’s $10B Credit For Gulf Oil Spill Loss
- Commodities Hit Road Block, Halt Stock Advance
- Stock Picks For Wednesday 28 July: Bank of America, Dendreon Corporation, AMD
| Copper Signals Bright Outlook For The Economy Posted: 28 Jul 2010 04:04 AM PDT As stocks have slipped lower over the last three months, copper has bucked the broad trend and broken the pattern of lower highs and lower lows it set in the spring. After bottoming on June 7, the iPath Dow Jones-UBS Copper Subindex Total Return ETN - which closely tracks copper futures - has gained more than 12.2%. In the same span, the Russell 2000 small cap stock index has lost 0.6%. The red metal is nicknamed Dr. Copper for its ability to peer around the corner and act as a … [visit site to read more]
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| Posted: 28 Jul 2010 03:58 AM PDT Despite marginally better than expected CaseShiller data and decent earnings in the US, investor appetite for the riskier assets took a blow after consumer confidence data failed to match the Street estimate. However, keeping DJIA in positive territory was DuPont (NYSE:DD) (+3.67%) after it posted strong earnings. The risk aversion tone saw the USD that strengthen and in turn weigh on the commodity products. As a consequence of the latest USD strength, WTI crude futures fell and tested USD … [visit site to read more]
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| Gold Reaching Levels More Bearish Than At The February Bottom Posted: 28 Jul 2010 03:01 AM PDT I want to discuss something that came up on the blog Friday. An anonymous poster hinted that we were going to see more gold weakness in the days ahead because big money was having to sell positions. Folks, big smart money traders don’t sell into weakness. These kind of investors don’t think like the typical retail investor who is forever trying to avoid draw downs. Big money investors take positions based on fundamentals and then they continually buy dips until the fundamentals … [visit site to read more]
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| Gold Breaks Below Up Trendline Posted: 28 Jul 2010 12:01 AM PDT Seeing the action today in gold, I felt compelled to do a post on gold even though I had no plans to write one. Ever since the beginning of the big move up in the latter half of 2008, gold has held steadfastly to a trendline that I have often pointed out both on the blog here and twitter. Well dear readers, today was the day this trendline broke. Have a look! Let’s zoom in a little closer. Here you can see the trendline being broken more clearly. The volume pattern has been really … [visit site to read more]
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| Forex Trading: Dollar Recovers After Consumer Confidence Report Posted: 27 Jul 2010 11:03 PM PDT Dollar Recovers after Consumer Confidence Report
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| Were The EU Stress Tests For Real? Stock Price Volume Says Otherwise Posted: 27 Jul 2010 08:50 PM PDT As investors debate the validity of the stress test to gauge the financial health of European banks, the market has definitely signaled clues on the charts that we are nowhere out of the woods yet with the sovereign debt issue. Since the European Crisis began at the end of April, the news out of Europe has rattled the markets on high volume sell offs, break of trends and moving averages. It is interesting that now, with the stress test showing positive, investors are hesitant to jump … [visit site to read more]
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| UBS Shares Gap Up On Positive Earnings Surprise Posted: 27 Jul 2010 08:43 PM PDT UBS (NYSE:UBS), a diversified global financial services company, soared by 8.91% to $16.50 per share yesterday when the company reported a better-than-expected second quarter earnings. Sentiment on the stock was downbeat during the second quarter as evidenced by the stock’s decline because of the scare that was brought about by the debt crisis in the euro zone. Business especially among financial firms may have been subdued at that time because of the reluctance of the banks to trade and … [visit site to read more]
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| Crude Oil Falters Under $80, Gold Breaks Down To New Lows Posted: 27 Jul 2010 08:41 PM PDT Crude oil is not far from the midpoint of a 10-month range; further losses could lead to an attractive buying opportunity. Gold is battered and bruised after breaching multiple technical levels. Commentary: Crude oil shed $1.48, or 1.87% on Tuesday, as prices failed to breach the psychological $80 level. Little has … [visit site to read more]
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| US Housing Market Still Shaky Despite May’s Home Price Improvement Posted: 27 Jul 2010 08:32 PM PDT The S&P/Case-Shiller index of home prices increased more than forecast in May, but the combination of a now-expired government tax credit, skyrocketing foreclosures and deteriorating consumer confidence is expected to keep a lid on the housing market in the second half of 2010. Home prices in 20 major U.S. cities climbed 4.6% from May 2009, the biggest year-over-year gain since August 2006. However, analysts say the increase was artificially buttressed by seasonal factors and the … [visit site to read more]
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| Three Tech ETFs To Play Apple And Microsoft Posted: 27 Jul 2010 07:17 PM PDT After reporting stellar quarterly financials, Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) remain attractive and for good reason.
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| Tax Code Goof: BP’s $10B Credit For Gulf Oil Spill Loss Posted: 27 Jul 2010 06:39 PM PDT There is no shortage of news from BP on Tuesday: The oil major reported its first quarterly loss–$17.15 billion–in eighteen years, and will sell about $30 billion in assets. The more eyebrow-raising news; however, is that BP plans to claim almost $10 … [visit site to read more]
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| Commodities Hit Road Block, Halt Stock Advance Posted: 27 Jul 2010 06:20 PM PDT The market started to hit some resistance into the close, plus commodities have stalled. This is a development because along with small and mid-caps, commodities like Copper, JJC are hitting strong resistance on the 200-Day Moving Average [MA]. If there is little to no follow through, this could be a potential road block for the equities to continue to rally. Watch the Crude Inventories, due out at 10:30am ET, which could also put pressure on equities as well. Gold is on the break to the … [visit site to read more]
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| Stock Picks For Wednesday 28 July: Bank of America, Dendreon Corporation, AMD Posted: 27 Jul 2010 06:10 PM PDT ( click to enlarge ) Dendreon Corporation (NASDAQ:DNDN) - The stock made a significant downside correction today. We need this downside correction as CCI already is in extreme overbought area on daily chart. We also should see this current downside momentum as consolidation/correction move. But remember, that we are still intact with the bullish scenario in short-term term so we must see this bearish momentum just as a correctional movement. My model remains mixed with upside bias. I’m a … [visit site to read more]
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