Wednesday, August 4, 2010

Daily Markets - Global Manufacturing Production: Losing Momentum

Daily Markets - Global Manufacturing Production: Losing Momentum


Global Manufacturing Production: Losing Momentum

Posted: 04 Aug 2010 02:43 AM PDT

Although data from the euro zone surprised on the upside the recently published Manufacturing PMIs for all major economies hint at a significant moderation in manufacturing production growth.

Sources: ISM; Markit; CFLP.
OECD industrial production growth in the third quarter can be expected to slow to approximately 5% from the blistering pace of 11% in May.

Sources: I-Net; Plexus Asset Management; ISM; Markit; CFLP.
If global manufacturing is anything to go by, GDP growth in the OECD countries … [visit site to read more]


Charlie Rose: Face To Face With Wilbur Ross

Posted: 04 Aug 2010 02:33 AM PDT

In this video, Charlie Rose sits down with Wilbur Ross, an American investor known for restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts and distressed businesses.
A link to the transcript of the interview follows at the end of the post.
Click here or on the image below to view the video.

Click here for a transcript of the … [visit site to read more]


Dan Rather Talks To Congressman Alan Grayson

Posted: 04 Aug 2010 02:31 AM PDT

While the Federal Reserve is credited with bringing back the economy from the edge of collapse, it did so by literally "printing money" and injecting more than one trillion dollars into the system. Who got the money, and what were the terms of the loans? The Federal Reserve won't say, but Congressman Alan Grayson has been working hard to force the Federal Reserve to open its books – and it looks like he may be getting his … [visit site to read more]


U.S. Economy – A Cartoonist’s View

Posted: 04 Aug 2010 02:16 AM PDT

Forex Trading: Eurozone Retail Sales

Posted: 04 Aug 2010 02:03 AM PDT

July retail sales in the Eurozone came in slightly better than expected. The details are as follows:

Retail Sales (y/y) - Survey: 0.1%   Actual: 0.4%   Prior: 0.3%
Retail Sales (m/m) - Survey: 0.0%   Actual: 0.0%   Prior: 0.2%

There was some buying during the 10 minutes leading up to the release, but minimal movement … [visit site to read more]


Forex Trading: Eurozone Final Services PMI

Posted: 04 Aug 2010 01:02 AM PDT

The market showed a minimal reaction following the final services PMI out of the Eurozone which came in at 55.8; slightly worse than the survey and prior showing of 56.0. The euro is currently trading on session lows against the … [visit site to read more]


Materialistic China

Posted: 04 Aug 2010 12:40 AM PDT

A couple of weeks ago the New York Times published an article about the materialistic young in China, as exemplified by the behavior on dating shows. The poster child for Chinese materialism turned out to be a contestant on the popular show If You Are The One (非城勿扰), who was asked if she would like to go for a bicycle ride, she responded “I'd rather sit and cry in the back of a BMW” and be unhappy than be poor and happy. The authorities responded with heavy handed censorship:
Late … [visit site to read more]


Forex Trading: Dollar Falls On Federal Reserve Speculations

Posted: 03 Aug 2010 11:42 PM PDT

Dollar Falls on Federal Reserve Speculations
Negative economic data, as well as speculation regarding further monetary easing by the Federal Reserve, pushed the USD to its lowest level since April. Markets await the release of the Non-Farm Payrolls (NFP) data due Friday for signs of the economic conditions in the US.
Economic News
USD - USD Falls on Negative Economic Data
The US dollar fell against its major counterparts after disappointing US economic data prompted speculation that the … [visit site to read more]


Forex Trading: USD/JPY Under Pressure

Posted: 03 Aug 2010 10:00 PM PDT

After trading continually lower today, the USD/JPY is now approaching a full daily retracement on the move from the low on November 27, 2009 to the high on May 6, 2010. The pair has not traded below this level since the summer of 1995. If the pair continues through the 84.80 level, we should see much more volatile trading as there is no support in … [visit site to read more]


Singapore Stock Market Update For Wednesday 04 August

Posted: 03 Aug 2010 09:55 PM PDT

Morning Highlights

Singapore stocks traded lower, with STI opened at 3,010.88, after Wall Street slipped on signs of weaker consumer spending. .  

Straits Asia broke 2.15

Wilmar mandates 3 banks for US$1.1 billion financing

Most of the Asian Markets, including Singapore, continued to drop further in midday trading. Hong Kong indexes are turning negative and Japan’s markets are also weighed by a rising yen…
Watch out for Economic News Release Today:

U.S. ABC Consumer … [visit site to read more]


Price Levels To Watch For Apple Shares

Posted: 03 Aug 2010 09:20 PM PDT

I’ve received a few requests to update the chart of Apple (NASDAQ:AAPL) which remains trapped within a multi-month sideways trading range.

Let’s take a look at the current daily chart and note the levels to watch for a breakout, along with trading strategies while price remains trapped in the range.

I last updated Apple (AAPL)’s chart on July 13th with the post:

“The Support Shelf and Trading Range to Watch in Apple AAPL”

… which remains true to this day as price continued to … [visit site to read more]


Still Long On Sirius XM Radio, NVIDIA & Entropic Communications

Posted: 03 Aug 2010 09:07 PM PDT

We started the day off with a small gap-down and market breadth of about 3 to 1 negative.  The bears had an opportunity to gain some ground as the small-caps underperformed once again.  Instead, we saw the bulls fight back on low volume.  While it was unimpressive for the bulls, it was still a win as we continue to test June’s highs and continue to stay above the 200-day moving average in the S&P 500.

The short-term uptrend is still intact, even though we continue to encounter … [visit site to read more]


The Calm Before The ETF Storm

Posted: 03 Aug 2010 08:59 PM PDT

Instratrader Indicators:

Yellow Flag: We Expect Choppy Prices Ahead

Daily Technical Sentiment Indicators: Neutral

Short Term Market Condition:  Overbought (short term bearish)

Short Term Trend: Up

Medium Term Trend: Neutral

Long Term Trend: Neutral

% of Stocks Above 200 Day Moving Average/Daily Change: 61.8/-4%

% of Stocks Above 50 Day Moving Average/Daily Change:  75.3/-4.7%

Market Update: … [visit site to read more]


Crude Oil Approaches Key Highs, Gold Wins Despite Investor Liquidation

Posted: 03 Aug 2010 08:00 PM PDT

Commodities – Energy
Crude Oil Approaches 11-Month Highs
Crude Oil (WTI) $82.37 -$0.18 -0.22%
Commentary: Despite poor economic data and sinking equities, crude oil rose $1.21, or 1.49% in Tuesday's session. Personal income and spending data for the U.S. both came out unchanged month-over-month. While the spending data was expected to be unchanged, income was forecast to rise 0.1%. Also released on Tuesday was U.S. factory orders for June, which fell 1.2% versus the 0.5% decline that was … [visit site to read more]


7 Reasons To Consider Indonesian ETFs

Posted: 03 Aug 2010 07:17 PM PDT

As high unemployment rates, slow growth and the fear of inflation continue to take their toll on developed nations like the US, Indonesia could offer investor's an answer to their prayers.
The Asian nation, which consists of various islands and is the fourth most populous country in the world, is a member of both the G-20 and OPEC, but doesn't export any oil, instead uses it to fuel its own economy.  The fact that Indonesia is self-sufficient in crude oil makes it relatively immune to … [visit site to read more]


Why The Japanese Yen’s Move Is Not Bullish For Japan

Posted: 03 Aug 2010 06:23 PM PDT

The market did close the day in the red, another grinding session after an initial pop in the morning. The Japanese Yen currency has been on a tear and some market insiders who often confer with me, gave me some additional insight — this move in the Yen is not a bullish signal for Japan, but more of a sign that the Japanese could be potentially bringing their risk capital home. Reason being, the Japanese could be seeing some potential volatility that at this juncture would not have … [visit site to read more]


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