Wednesday, August 11, 2010

Daily Markets - Crude Oil Tests Levels Below $80, Gold Looks To The US Dollar

Daily Markets - Crude Oil Tests Levels Below $80, Gold Looks To The US Dollar

Crude Oil Tests Levels Below $80, Gold Looks To The US Dollar

Posted: 10 Aug 2010 11:51 PM PDT

Commodities – Energy
Crude Oil Tests Levels Below $80
Crude Oil (WTI) - $80.12 // -$0.13 // -0.16%
Commentary: As has been the pattern in recent sessions, crude oil followed the movements in equity markets, declining sharply in the early morning, and then recovering after the Fed policy decision and statement were released. Crude oil declined as much as $2.28 to $79.20, but settled the day $1.23, or 1.51% lower. As we have stated in the past, it will be difficult for crude oil to break above … [visit site to read more]

Forex Trading: USD/JPY Looks To Breach Below 85

Posted: 10 Aug 2010 11:46 PM PDT

USD/JPY Looks to Breach Below 85
The U.S. currency hovered within sight of a 15-year low versus the Japanese yen on Wednesday after the Federal Reserve announced plans to boost a flagging economy by reinvesting money from maturing mortgage bonds and government debt. The U.S. central bank acknowledged economic growth had slowed in recent months and reiterated its intention to hold benchmark interest rates at record lows for an extended period of time.
Economic News
USD - Dollar Pares Gains on … [visit site to read more]

Growth & Income Stock: Lennox International

Posted: 10 Aug 2010 11:05 PM PDT

Lennox International (NYSE:LII) recently beat quarterly estimates and raised guidance for the full year. The company indicated that the success of its new products and productivity initiatives across its businesses helped expand its profit margins to record highs.
Growth and Income
The company is expected to grow its earnings per share 39.1% in 2010, 22.2% in 2011, and 17.5% over the long term. Its trailing 12-month return on equity is 23.3%. The stock also offers investors a dividend yield of … [visit site to read more]

Aggressive Growth Stock: DG FastChannel

Posted: 10 Aug 2010 11:05 PM PDT

DG FastChannel (NASDAQ:DGIT) recently reported excellent quarterly results. Estimates are climbing and the recent volatility has created a great value as well.
Company Description
DG FastChannel offers tech solutions for advertisers. The company offers electronic ads, syndicated programs and video for broadcasters, websites and other outlets.
Net Income Surges
On Aug 4 DG FastChannel announced second-quarter results that showed 38% top-line growth to just over $60 million. Net income more than … [visit site to read more]

Momentum Stock: Crocs, Inc.

Posted: 10 Aug 2010 11:05 PM PDT

Crocs, Inc. (NASDAQ:CROX) just hit a multi-year high after reporting better than expected Q2 results on Aug 5 that included a 61% earnings surprise. With a growing international presence and strong online sales, the company has capitalized on the improving consumer environment.
Company Description
Crocs, Inc. and its subsidiaries design and sell footwear for men, woman and children worldwide. The company was founded in 1999 and has a market cap of $1.57 billion.
Crocs, Inc. saw huge gains in its … [visit site to read more]

Bear Of The Day: Novatel Wireless (NVTL)

Posted: 10 Aug 2010 11:05 PM PDT

We downgrade our recommendation for Novatel (NASDAQ:NVTL) to Underperform following its second quarter 2009 financial results, well below the Zacks Consensus Estimates. Novatel is facing intensifying competition for its legacy embedded solutions products that is expected to result in overall lower ASP and lower gross margin.
Although the company has developed a niche for its MiFi mobile intelligent hot spot, we foresee increased competition from the latest version of smartphones with in-build WiFi … [visit site to read more]

Bull Of The Day: RLI Corp. (RLI)

Posted: 10 Aug 2010 11:05 PM PDT

We are upgrading RLI Corp. (NYSE:RLI) to Outperform as we believe the company will benefit from business expansion drive diversification into crop and other assumed property reinsurance. Also its extensive product offerings, strong local branch network and focus on specialty insurance lines is expected to aid top-line growth.
Its second quarter earnings outperformed the Zacks Consensus Estimate on better-than-expected premiums coupled with favorable reserve release. However, RLI continues to … [visit site to read more]

Forex Trading: Usd/Jpy May Test Historical Levels

Posted: 10 Aug 2010 10:20 PM PDT

Usd/Jpy saw an aggressive sell off  post FOMC but has yet to break below 85.00. The pair should run into resistance at the 85.45-50 level where the 38.2% fibo lies (85.00 low, 86.21 high). The longer the pair stays below this level the better shot we have of seeing Usd/Jpy below 85.00 and test its 15 year low of 84.80.

Here is a monthly chart showing the last time Usd/Jpy was below 85.00 back in July of 1995. Based on this chart there should be an abundance of bids in front of this … [visit site to read more]

“Suspicious Packages”: A Proposed Islam-Friendly Gay Bar To Be Built Next To Mosque At Ground Zero

Posted: 10 Aug 2010 07:08 PM PDT

On the Glen Beck show, Greg Gutfeld discusses his plan to “build and open the first gay bar that caters not only to the west, but also Islamic gay men. To best express my sincere desire for dialogue, the bar will be situated next to the mosque Park51, in an available commercial space.”

HT: Nick … [visit site to read more]

July Tax Collections In Some States Are Booming

Posted: 10 Aug 2010 06:57 PM PDT

NASHVILLE, TENNESEE – State sales tax revenues for July jumped with the largest monthly growth in over three years. The last month in which sales tax collections exceeded this month's growth rate was April of 2007.

OKLAHOMA CITY, OK - State revenue collections for the month of July, the first of the new fiscal year, outperformed both prior year collections and the official estimate, state Treasurer Scott Meacham reported. “Collections in all major areas are above the same month … [visit site to read more]

Singapore Stock Market Update For Wednesday 11 August

Posted: 10 Aug 2010 06:30 PM PDT

Morning Highlights

Singapore stock prices weakened in opening trade, with STi down 14.75 points to open at 2969.54 after Wall Street closed lower overnight.
Watch Out For Economic News Release Today:

U.S. Rate Decision

U.S. June Trade Balance figures

China’s July CPI numbers

Corporate Announcements:

Yangzijiang announced 31.8% year-on-year growth in 2Q10 net profit to RMB 800.5 million.

Sound Global announced 3.5% year-on-year decrease in 2Q10 net profit to RMB 74.5 … [visit site to read more]

Stock Picks For Wednesday 11 August: Sirius XM Radio, Advanced Micro Devices, Ciena, A-Power Energy Generation Systems

Posted: 10 Aug 2010 06:15 PM PDT

( click to enlarge )

A-Power Energy Generation Systems (NASDAQ:APWR) is trying to steady itself around the support at $8. A fall below this level will make the short-term outlook negative again and it will pave the way for a fall to $7.76. Hold the stock with a stop at $7.96.

( click to enlarge )

Sirius XM Radio (NASDAQ:SIRI) The stock didn’t make significant movement today, closing at $1.01. Overall price still consolidation in range area of 1.10-0.90. The bias remains neutral at this … [visit site to read more]

Top Or Consolidation, That Is The Question.

Posted: 10 Aug 2010 04:43 PM PDT

Were you hooked all day waiting for the Fed announcement? If not, don’t worry because I was watching and waiting for you. I learned that, as far as the market was concerned, it was pretty anticlimatic. The market was down over a percentage point all day but then the announcement came, the talking heads began attempting to sort it all out and give their professional opinions of what it all meant for the economy, for the dollar, for commodities and for the market. A checkerboard of 6 talking … [visit site to read more]
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