Tuesday, August 31, 2010

Daily Markets - Our Ongoing Recession

Daily Markets - Our Ongoing Recession

Our Ongoing Recession

Posted: 31 Aug 2010 02:56 AM PDT

I have informed more people than I care to count that I do not believe we are going to have an economic double dip. Am I turning positive on the economy? Do I see blue skies and fair winds on our economic horizon? No, regrettably not. The reason I do not believe we will have an economic double dip is very simply I do not believe that our "real" economy, not the government sponsored version, ever really came out of the initial recession.
People may care to debate or challenge me on my … [visit site to read more]


Forex Trading: Eurozone CPI Flash Estimate

Posted: 31 Aug 2010 02:02 AM PDT

Eurozone CPI Flash Estimate y/y came in at 1.6% inline with estimates and weaker than the prior reading of 1.7%.
Eur/Usd currently trades at 1.2680, not far off recent … [visit site to read more]

The Joys Of West Coast Living

Posted: 31 Aug 2010 12:07 AM PDT

A post totally unrelated to investing: Yesterday I heard on the radio that there was a grey whale cavorting off one of the local piers. This is an unusual event but the sockeye salmon run this year has at record highs so that’s what the whale was likely feeding on. We grabbed our child and got some pictures:

Here is another:

Back in May, there was also a grey whale spotted in the area. Here is a video report from the local TV station of the latest sighting.

Ah, the joys of Canadian … [visit site to read more]

Crude Oil Follows Equities Lower, Gold Is Calm Before The Storm

Posted: 30 Aug 2010 11:51 PM PDT

Commodities – Energy
Crude Oil Follows Equities Lower
Crude Oil (WTI) - $74.13 // $0.57 // 0.76%
Commentary: Crude oil's three-day win streak was snapped on Monday after U.S. equity markets fell almost 1.5% on the day. Crude's decline was much more modest in comparison; the commodity fell $0.47, or 0.63%, but the sell off is continuing after hours with the commodity down another $0.58, or 0.78%. Double dip fears are back in focus, as the S&P 500 stock index threatens to break the … [visit site to read more]

Bearish Harami In US Stock Market: Tuesday Could Get Very Ugly

Posted: 30 Aug 2010 11:07 PM PDT

After a strong showing Friday by the bulls and the chance to show us Monday that they are finally here to stay, the bulls instead chose to cower in the corner.   Monday was a very light volume day that some say is technically good because it’s a low volume pullback.  Many times that analysis is correct.  However, Monday formed a bearish harami in the S&P 500 which means Tuesday could get very ugly.  It could be argued that the bearish harami was not truly formed because the … [visit site to read more]

Growth & Income Stock: Rollins Inc.

Posted: 30 Aug 2010 11:05 PM PDT

Rollins Inc. (NYSE:ROL) is keeping a watchful eye on the news as fears about bed bugs grows. The company is expected to see double digit earnings growth in 2010 and 2011.
Rollins, Inc. provides pest control and services to homes, work places and restaurants from 500 locations in the United States, Mexico, Canada, Europe, Central America, the Caribbean and the Middle East. It offers protection against termites, rodents and other insects.
The company operates many well-known pest control brands such … [visit site to read more]

Aggressive Growth Stock: AutoNation Inc.

Posted: 30 Aug 2010 11:05 PM PDT

AutoNation, Inc. (NYSE:AN) analysts are raising estimates following the latest earnings surprise. Industry sales continue to improve and AutoNation is making the most of it.
Company Description
AutoNation, Inc. owns about 250 automotive retail locations. The company sells new and used cars in addition to providing services, financing, body work etc.
Beat the Street
On Jul 22 AutoNation reported quarterly results that showed a 20% increase in revenue, to $3.1 billion. Auto sales are making a … [visit site to read more]

Bear Of The Day: Questar Corp. (STR)

Posted: 30 Aug 2010 11:05 PM PDT

We are downgrading Questar (NYSE:STR) shares to Underperform from Neutral, due to the weak natural gas fundamentals and the company’s clouded post-split outlook. The continued glut in domestic gas supplies continues to weigh on the company, and storage levels remain above their five-year average.
This translates into a bearish near- to medium-term outlook for natural gas-weighted companies like Questar. The transfer of the low-cost and high-growth E&P assets (post-split) have also held back … [visit site to read more]

Bull Of The Day: Expeditors International (EXPD)

Posted: 30 Aug 2010 11:05 PM PDT

We are upgrading our recommendation to Outperform for Expeditors International (NASDAQ:EXPD) following second-quarter results. The company’s second quarter earnings surpassed the Zacks Consensus Estimate and the year-ago quarter level on strong airfreight and ocean shipping demand.
Yields declined despite an increase in air and ocean volumes, which led to contracting gross margins. However, as the freight is recovering, we expect yields to stabilize at lower and more normal levels. We also expect … [visit site to read more]

Momentum Stock: Genesis Energy LP

Posted: 30 Aug 2010 11:05 PM PDT

Genesis Energy LP (GEL) continues to pressure its multi-year high after reporting better than expected Q2 results in early August that included a 38% earnings surprise. With the next-year estimates projecting 25% growth, the longer term picture looks good too.
Company Description
Genesis ENergy LP, with its subsidiaries, operates in the mid stream segment of the energy market, providing refining and transportation services to the crude and natural gas industries in the United States. The … [visit site to read more]

Is The EUR/USD Short Covering Rally Over?

Posted: 30 Aug 2010 10:04 PM PDT

Good day to you my Forex friends! Here’s an update on the EURUSD or the fiber as what they call it on Wall Street.

The last time I covered the pair (please see my previous post here), it had just broken down from a head and shoulders formation. Since then, the pair has rallied to form what appears to be a rising wedge pattern. In case you do not know, a wedge is generally a continuation pattern as it just represent a short term rebound in prices. Such rally could be due to profit … [visit site to read more]

Forex Trading: Yen Continues To Strengthen

Posted: 30 Aug 2010 09:55 PM PDT

Yen Continues to Strengthen
The Japanese yen made another bullish move against the majors as the steps taken by the Bank of Japan to weaken the yen only served to increase traders’ resolve to increase bullish bets on the Japanese currency.
Economic News
USD - Dollar Stronger Following Lower Equities
The dollar traded higher versus the euro and the pound but weaker versus the yen in illiquid trading conditions. Much of today’s trading revolved around negative sentiment for an increase in … [visit site to read more]

Singapore Stock Market Update For Tuesday 31 August

Posted: 30 Aug 2010 09:28 PM PDT

Morning Highlights

Singapore market started weaker, with STI down 14.62 points to open at 2942.44. Wall Street’s fall and soft U.S. data on Monday, including weak readings on personal income and Texas-area manufacturing activity, hurt market sentiment.

Watch Out For Economic News Today:

U.S August Consumer Confidence

Corporate Announcements:

Yangzijiang announced that the Group has entered into a total of 28 shipbuilding contracts with an aggregate contract value of US$915 million … [visit site to read more]

Welcome To The (Tech) Jungle: Cisco’s Reaching Up To Skype?

Posted: 30 Aug 2010 06:17 PM PDT

Merger mania is definitely back in the Tech sector. HP (HPQ) and Dell (DELL) are still seriously locking horns over 3PAR (as of this writing.) Intel's (INTC) acquiring Infineon's wireless business for about $1.4 billion in cash, less than two weeks after saying it would buy McAfee. However, the more intriguing story (or rumor) is when TechCrunch broke the news Sunday night that Cisco (CSCO) has made an offer to acquire Skype before they complete their IPO.

Skype has had … [visit site to read more]

A Fan Of Upward -Sloping Trendlines

Posted: 30 Aug 2010 05:24 PM PDT

I must confess that I too am confused, frustrated and starting to lose both my patience and my motivation. I read other blogs, newsletters, financial sites and come away convinced that no one knows with any degree of certainty what’s coming down the road.
If you’re a fundamentalist, then you can make a strong argument based on the economic picture that there’s another leg down, perhaps down 35-30% from current levels back to the 750-800 range (one bear prognosticator predicted on Bloomberg a … [visit site to read more]
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