Monday, August 16, 2010

Daily Markets - Still Bullish On The British Pound Despite Recent Weakness

Daily Markets - Still Bullish On The British Pound Despite Recent Weakness


Still Bullish On The British Pound Despite Recent Weakness

Posted: 16 Aug 2010 07:50 AM PDT

Welcome to another week of forex trading! In today’s FX feature is an update of the GBPUSD pair which I posted back on August 4 (please see my previous blog here).

As you can see from its 4-hour chart, the GBPUSD or the Cable has retraced downwards after reaching a 6-month high of 1.5998 on August 4. But despite its recent weakness, I am still bullish on the British pound. At present, the pair is trading just about just above 1.5500. The previous high at 1.5500 plus the uptrend line … [visit site to read more]


Forex Trading: UK Data Of Critical Importance To British Pound This Week

Posted: 16 Aug 2010 07:30 AM PDT

Without a doubt, the most important currency to be watching this week will be sterling. The big story in the UK is the persistently high level of inflation which has been well in excess of the MPC’s 2.0% target and indeed the 3.0% threshold set by the Treasury throughout 2010. For much of the year, this surge has been disregarded or overshadowed by the BoE’s unwavering focus on vulnerable growth and an inflation forecast that predicts a rapid decline in inflation at some point. But this … [visit site to read more]


Forex Trading: GBPUSD Testing 100 Hour MA At The 1.5659 Level

Posted: 16 Aug 2010 07:16 AM PDT

The Price Of China’s Property Boom

Posted: 16 Aug 2010 07:00 AM PDT

More evidence of a bubble in ChinaH/T to Miguel of http://www.simoleonsense.com for the find The Price of China's Property Boom – via WSJ – A Chinese Academy of Social Sciences study making the rounds lately has revived bubble fears by suggesting that a startling 64.5 million urban housing units—one for every four households—is sitting empty, based on dormant electricity meter readings. Local utilities have since stepped forward to try to discredit the CASS numbers. But even if they … [visit site to read more]


Swiss Franc: Under Pressure

Posted: 16 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Japanese Yen: The Downside Prevails

Posted: 16 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


British Pound: Under Pressure

Posted: 16 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Euro: The Downside Prevails

Posted: 16 Aug 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


The Race Card Is Maxed Out

Posted: 16 Aug 2010 05:58 AM PDT

The Daily Show With Jon Stewart
Mon - Thurs 11p / 10c

Race Card Is Maxed Out

www.thedailyshow.com

Daily Show Full Episodes
Political Humor
Tea Party

HT: Don … [visit site to read more]


Euro-Zone Inflation Rises 1.7 Percent In July

Posted: 16 Aug 2010 05:50 AM PDT



Fundamental Headlines
• Euro, Dollar Fall Against Yen – Wall Street Journal
• Weak Japan GDP Hits Markets – Wall Street Journal
• Chinese Economy Eclipses Japan - Financial Times
• China Overtakes Japan as World's Second-Biggest Economy After 30-Year Rise - Bloomberg
• Franc Resumes Advance on Swiss Recovery as Euro Region Faces Budget Gloom- Bloomberg
EUR/USD: Euro-zone annualized consumer prices for the … [visit site to read more]


Is The Gold Rally Getting Tired?

Posted: 16 Aug 2010 05:42 AM PDT

This daily chart is the SPDR ETF for gold (GLD).  First off, you will notice my obsession with tinkering with indicators.

Here I am using:
1.  Bollinger Bands (20,1.8)
2.  20 dma dashed line to plot the Bollinger Band midpoint
3.  50 and 200 dma of GLD
4.  True Strength Index (TSI) indicator set to (7,4) with the ZERO crossover line identified
5.  TSI indicator set to (13,7) with its 3 and 5 dma added
6.  Stochastic Momentum Indicator (SMI) set to (25, 13, 3) with … [visit site to read more]


Forex Trading: EURUSD Finds The Buyers Above Key Technical Levels

Posted: 16 Aug 2010 05:35 AM PDT

Face To Face With David Rosenberg On The Economy

Posted: 16 Aug 2010 05:25 AM PDT

In an interview with WSJ's Kelly Evans, Gluskin Sheff's Chief Economist David Rosenberg warned that the chances of a double-dip recession are greater than 50-50 and that the recession may not have ended last year at all. He also called for the cutting of corporate taxes to spur job … [visit site to read more]


Robert Prechter Sees U.S. Stock Market Lower, Dollar Higher

Posted: 16 Aug 2010 05:23 AM PDT

In this video clip, Robert Prechter of Elliot Wave International talks with Bloomberg's Pimm Fox about the outlook for the U.S. stock market and … [visit site to read more]


Don Coxe Webcast – Updated (August 13, 2010)

Posted: 16 Aug 2010 04:51 AM PDT

Don Coxe has updated his popular webcast on Tuesday, August 3, 2010 – good news for his followers. You can access the recording here or from the sidebar of the Investment Postcards site (the column on the right-hand side) by clicking on Don's … [visit site to read more]


The Week Ahead

Posted: 16 Aug 2010 04:43 AM PDT

The video clips below provide a handy summary of the reports expected on the economic, financial and corporate front around the globe during the week ahead.
US: Raft of earnings, possible GM IPO
Retail and tech earnings take center stage, with Hewlett-Packard, Dell, Wal-Mart, Target and Home Depot set to report. General Motors may launch the year's biggest IPO to return to public markets.

Europe: Calsberg, Holcim report
U.K. inflation data will be in focus towards the start of the week, … [visit site to read more]


Hot Stocks To Watch On Monday August 16: Alcoa, Applied Materials, Omnicare, Gartner, Nevsun Resources, Priceline.com

Posted: 16 Aug 2010 04:42 AM PDT

Since I am expecting a short term bounce in the markets in the very near future, but the momentum to still remain with the bears, I decided to include both long and short setups in this post. Let’s have a look at the short setups first.

Alcoa (NYSE:AA) - Both MA(50) and MA(20) right above as overhead resistances. A good entry would be on another rejection at MA(50) or on a break of Thursday’s lows.

Applied Materials (NASDAQ:AMAT) - Nice bearish volume pattern. The move upwards on Friday … [visit site to read more]


Laugh Out Loud: U.S. Economy Moving Forward?

Posted: 16 Aug 2010 04:42 AM PDT

What To Do About Rand Strength?

Posted: 16 Aug 2010 04:41 AM PDT

By James Lord, Michael Kafe and Andrea Masia of Morgan Stanley.
In South Africa, it is no secret that the currency's phenomenal strength has been a source of concern – and, occasionally, even frustration – for the authorities. In real effective terms, the rand has rallied by around 40% since the recent low at the end of 2008. Along with BRL, the rand has seen the biggest rise in REER terms since EM currencies started to recover (in general) from the lows seen at the end of 2008 following … [visit site to read more]


Why I’m Refusing To Short Netflix

Posted: 16 Aug 2010 04:36 AM PDT

Now, this is certainly an interesting stock! I have never played it but everybody certainly seems to have an opinion about it. I find this stock interesting from the trading psychology point, hence the complete post about it. But first things first. I have heard a lot of chatter, and I am sure you have too, about how grossly overvalued this stock is. Being no expert on fundamental analysis myself, I requested one of the regular readers of this blog, Bill, to give me his analysis on the … [visit site to read more]


Expect Hewlett-Packard Shares To Dip In The Short Term

Posted: 16 Aug 2010 04:25 AM PDT

Hewlett-Packard Company (NYSE:HPQ) or HPQ in the New York Stock Exchange has been exchanging on a bearish track for the last couple of months.

he first sign of the bad things to come was when the 50-day moving average (blue line) crossed below the 200-MA (red line). Over the last three months, its shares also failed to go beyond its previous high in April. Instead, it even registered successive lower lows during the same period. Last week alone, its stock experienced a loss of 12.5%. … [visit site to read more]


As U.S. Stocks Slide, Emerging Stock Markets Thrive

Posted: 16 Aug 2010 04:21 AM PDT

As the U.S. stock markets struggle in the midst of slowing economic growth, emerging stock markets are thriving as their surging economies provide cover for savvy investors.

Stocks tripped over the past week after a weak jobless claims report and a lukewarm revenue outlook from Cisco Systems Inc. (NASDAQ:CSCO) on Thursday put an exclamation point on worries about a muddled Federal Reserve Bank policy. U.S. markets lost more than 4% in one of their weakest five-day spans of the year, … [visit site to read more]


Stock Trading Plan For Monday

Posted: 16 Aug 2010 04:20 AM PDT

This past week was one of the worst weeks we have seen in quite some time but it was not totally unexpected. The fact that we have had such a large move off the bottom it is only natural to pull back and to see some profit taking. We were however hoping this pullback would be with light volume and holding support levels but it wasn’t. The NASDAQ hit resistance at the 100 day moving average and it acted like a steel wall sending the index lower. The sideways consolidation we were looking … [visit site to read more]


Are Active ETF Filings Ahead Of Actual Product Plans?

Posted: 16 Aug 2010 04:00 AM PDT

As of July, there were 28 actively-managed ETFs on the US market that investors had access to. These were provided by 7 different issuers which include WisdomTree, Grail Advisors, AdvisorShares, iShares, PIMCO, PowerShares and U.S. One. In contrast, there are roughly 24 firms that have filed for plans to launch actively-managed ETFs with the SEC, some with early stage exemptive relief filings and while others are further down the road and have already filed preliminary prospectus for their … [visit site to read more]


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