Daily Markets - Billionaire George Soros: Gold May Go Higher, But It’s Certainly Not Safe

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• Billionaire George Soros: Gold May Go Higher, But It’s Certainly Not Safe
• The Longest Period Of Contango On Record Signals Higher Oil Prices For 2011
• Three Reasons To Bet On Europe
• Japan’s Forex Intervention A Good First Step To Help Japanese Exporters
• As Fear Of Further Interventions Wanes, USD/JPY Slowly Trades Lower
• Japan Intervenes In Forex Market: What It Means For Gold And Silver
• Morgan Stanley Sued By CDIB On Mortgage Deal: Correction Imminent For MS Stock?
• Forex Trading: Euro Stronger On Promising Spanish Bond Auction
• Thursday’s Market Analysis: Yen Plunges As Bank Of Japan Intervenes
• Will The Obama Administration Get Serious And Start A Currency War?
• Forex Trading: Rare Japanese Intervention In Yen Trading Manages To Halt Yen’s Bullish Trend
• Crude Oil Dips On U.S. Rhetoric, Gold Investor Appetite Pauses
• Aggressive Growth Stock: SINA Corp
• Growth & Income Stock: Rogers Communications Inc
• Bull Of The Day: Arrow Electronics (ARW)
• Momentum Stock: Portfolio Recovery Associates, Inc.
• Bear Of The Day: J.C. Penney Co., Inc. (JCP)
• Crude Oil Inventories Watch: Week Ending 09/10/2010
• China’s Wine Thirst Turns Up The Heat On Bordeaux Futures
• Stock Markets At The Crossroads: Mostly In Cash Now
• Thursday Stock Market Outlook: Earnings Reports & Job Report
• The Future Of Coal ETFs Remains Prosperous
• Singapore Stock Market Update For Thursday 16 September

Billionaire George Soros: Gold May Go Higher, But It’s Certainly Not Safe Posted: 16 Sep 2010 03:22 AM PDT Spot gold Tuesday hit a record $1,274.75 an ounce,drifted lower on Wednesday as the dollar surged 3% against the yen when Japan intervened in the currency market for the first time in six years. The yellow metal quickly found support at just below $1,270 an ounce, still near its record high. Gold was also weighed down by fresh comments from billionaire financier George Soros. In an exclusive interview on Sep. 15 with Thompson Reuters (clip below), Soros says that gold is the … [visit site to read more]

The Longest Period Of Contango On Record Signals Higher Oil Prices For 2011 Posted: 16 Sep 2010 03:20 AM PDT ConocoPhillips (NYSE:COP) is paying $41,000 a day to keep a storage tanker capable of holding 3 million barrels of oil floating in the Gulf of Mexico, according to international ship- and offshore broking firm RS Platou. And the TI Europe is just one of hundreds of oil tankers sitting idle in waters around the world, as energy companies and investment banks await higher prices for crude. Oil prices have fallen precipitously since the spring, as optimism about “green shoots” of economic … [visit site to read more]

Three Reasons To Bet On Europe Posted: 16 Sep 2010 03:19 AM PDT When I speak with the U.S. subscribers to my Permanent Wealth Investor advisory service, there’s one bit of wisdom that I repeat time and again: Just because you’re living through a recession doesn’t mean that your money has to. If that’s a high-falutin way of telling folks to invest globally, so be it. The reality is that there are other places to invest than in the U.S. economy – and many of those “other” spots offer much better returns. Take Europe… The European Commission … [visit site to read more]

Japan’s Forex Intervention A Good First Step To Help Japanese Exporters Posted: 16 Sep 2010 03:10 AM PDT Japan yesterday (Wednesday) intervened in the currency market for the first time since 2004 to weaken a surging yen that reached a 15-year high against the U.S. dollar – and the government intervention is expected to continue. The Japanese yen hit 82.88 against the dollar, alarming the country’s officials who are worried that the rising currency would cut into exporters’ profits. The yen had risen more than 11% since mid-May. “We can’t overlook these movements that could have a … [visit site to read more]

As Fear Of Further Interventions Wanes, USD/JPY Slowly Trades Lower Posted: 16 Sep 2010 02:59 AM PDT The talk around the camp fire continues to be yesterday's Japanese forex intervention, and for good reason. First of all, it was very, very big with the Nikkei reporting that the BoJ sold more than ¥2trn which roughly equates to $23bn over the course of Asia, Europe and the US sessions. The enormous size required to move the USDJPY just 250 pips just illustrates the entrenched bearish sentiment and potentially highlights the fact that the central bank has a difficult & costly … [visit site to read more]

Japan Intervenes In Forex Market: What It Means For Gold And Silver Posted: 16 Sep 2010 02:21 AM PDT Gold broke out of a classic cup and handle pattern yesterday right before the Bank of Japan announcement.  The Yen has significantly strengthened since June as this is extremely difficult for the Japanese export companies.  The economy in Japan is weakening and they are facing their own sovereign debt issues which have not yet surfaced.  However, what is more important is how the markets are reacting.  This reaction in the yen may be short lived.  Although it might be a short term … [visit site to read more]

Morgan Stanley Sued By CDIB On Mortgage Deal: Correction Imminent For MS Stock? Posted: 16 Sep 2010 02:15 AM PDT Morgan Stanley (NYSE:MS) needs no introduction and is a famous investment bank and financial service organization across the globe but with its ever increasing lawsuits, litigations and regulatory fines, the organization might just become more infamous for its litigations and fines rather than for its core investment business. Just weeks after Financial Industry Regulatory Authority (FINRA) fined investment bank Morgan Stanley (MS) $800,000 for failing to adequately disclose material … [visit site to read more]

Forex Trading: Euro Stronger On Promising Spanish Bond Auction Posted: 16 Sep 2010 02:11 AM PDT Eur/Usd propelled through stops between 1.3035-50 to make a new high of 1.3077 on the heels of a very promising Spanish bond auction. Spain's economic well being is being monitored closely by th EU explaining such a strong move to the … [visit site to read more]

Thursday’s Market Analysis: Yen Plunges As Bank Of Japan Intervenes Posted: 16 Sep 2010 02:04 AM PDT Equities: There was major dislocation in the markets yesterday as the Bank of Japan publicly acknowledged they were intervening in the currency markets in an attempt to weaken their currency. Japanese stocks had been under pressure as a stronger JPY meant lower overseas sales revenues. However, the news on the BOJ sent the Nikkei soaring as it closed ahead 2.34% to 9,516. European markets were less impressed as the FTSE 100 gave back 0.21% to close at 5,555. while the Stoxx Europe 50 … [visit site to read more]

Will The Obama Administration Get Serious And Start A Currency War? Posted: 16 Sep 2010 02:01 AM PDT Are you ready for a currency war?  Well, buckle up, because things are about to get interesting.  This week Japan fired what is perhaps the opening salvo in a new round of currency wars by publicly intervening in the foreign exchange market for the first time since 2004.  Japan’s bold 12 billion dollar move to push down the value of the yen made headlines all over the world.  Japan’s economy is highly dependent on exports and the Japanese government was becoming increasingly alarmed … [visit site to read more]

Forex Trading: Rare Japanese Intervention In Yen Trading Manages To Halt Yen’s Bullish Trend Posted: 16 Sep 2010 12:56 AM PDT Rare Japanese Intervention in Yen Trading Manages to Halt Yen’s Bullish Trend The most significant economic event yesterday was beyond any doubt Japan’s ‎confirmation of a unilateral intervention in yen trading in order to put a stop to the ‎soaring currency. The consequences were seen immediately and the yen saw its ‎biggest daily loss in 22 months. Unusual trading is expected today as well. ‎ Economic News USD – Dollar Sees Mixed Results Vs. The Majors The U.S. dollar saw mixed … [visit site to read more]

Crude Oil Dips On U.S. Rhetoric, Gold Investor Appetite Pauses Posted: 15 Sep 2010 11:51 PM PDT Commodities – Energy Crude Oil Dips on U.S. Rhetoric Crude Oil (WTI) – $75.35 // $0.67 // 0.88% Commentary: Wednesday was another down day for crude oil with the commodity shedding $0.78, or 1.02%, on the day. Prices are down another 0.88% in overnight trade, as the U.S. ratchets up the rhetoric with regard to China's currency policy. Any hint of a trade dispute between the two largest oil consumers is obviously a bearish factor for crude oil prices. Typically cooler heads prevail in such … [visit site to read more]

Aggressive Growth Stock: SINA Corp Posted: 15 Sep 2010 11:05 PM PDT SINA Corp (NASDAQ:SINA) analysts are raised estimates following the latest earnings surprise, pushing shares close to the 52-week high. Company Description SINA is a Chinese online media company and mobile value-added service provider. The company has its own branded websites offering search engines, online shopping, blogs, gaming, email and other e-services. Revenue Rebounding On Aug 4 SINA reported a 10% increase in net revenues, to $99.4 million. Advertising revenue was up 52% and came in higher … [visit site to read more]

Growth & Income Stock: Rogers Communications Inc Posted: 15 Sep 2010 11:05 PM PDT Rogers Communications (NYSE:RCI) reported second quarter earnings per share of $0.79, beating the Zacks Consensus Estimate by 20%. It was the company’s sixth consecutive earnings beat. Analysts have revised their 2010 estimates up to $2.86, representing 14% annual growth. Company Description Rogers is a communications and media company based in Toronto, Canada. It operates in the wireless, cable, and media industries. Revenues per segment are divided as follows: Wireless: 55% Cable: 32% Media: … [visit site to read more]

Bull Of The Day: Arrow Electronics (ARW) Posted: 15 Sep 2010 11:05 PM PDT Arrow Electronics Inc. (NYSE:ARW) reported solid results for the second quarter driven by strong growth across all geographies and products. Estimates have been on the rise in the past sixty days. Although the company faced tough times between late 2008/early 2009, performance has been improving steadily since then. We expect overall demand and margins to improve as volumes ramp up. Management’s guidance was encouraging with both the top and bottom lines poised to grow in the second half of 2010. … [visit site to read more]

Momentum Stock: Portfolio Recovery Associates, Inc. Posted: 15 Sep 2010 11:05 PM PDT Portfolio Recovery Associates, Inc. (NASDAQ:PRAA) recently rebonded from a key trend line to move trading within striking distance of its all-time high at $72.80. With a Q2 earnings surprise of 22% and a bullish next-year estimate, this Zacks #1 rank stock has some solid upward momentum. Company Description Portfolio Recovery Associates, Inc. specializes in collecting defaulted consumers receivables. The company was founded in 1996 and has a market cap of $1.16 billion. With the Great Recession of … [visit site to read more]

Bear Of The Day: J.C. Penney Co., Inc. (JCP) Posted: 15 Sep 2010 11:05 PM PDT We believe that J.C. Penney (NYSE:JCP) stock will remain under pressure in the near term. Despite the introduction of new product lines, sales performance has not been impressive. J. C. Penney hinted that the discontinuation of the publishing of Big Book catalogs in November 2009 has been adversely impacting the sales. We expect a negative sentiment among investors, following the sales results for the second-quarter 2010 that breached its own guidance. Moreover, the company’s sales of home … [visit site to read more]

Crude Oil Inventories Watch: Week Ending 09/10/2010 Posted: 15 Sep 2010 10:51 PM PDT Inventories The Department of Energy reported that in the week ending September 10th, 2010, U.S. crude oil inventories decreased by 2.5 million barrels, gasoline inventories decreased by 0.7 million barrels, distillate inventories decreased by 0.3 million barrels, and total petroleum inventories decreased by 2.9 million barrels. The total petroleum surplus to the 5-year average decreased for the first time in nine weeks. The surplus now stands at 108.737 million, or 10.5% above the 5-year … [visit site to read more]

China’s Wine Thirst Turns Up The Heat On Bordeaux Futures Posted: 15 Sep 2010 10:50 PM PDT Booming demand from emerging economies–especially China– in addition to near-perfect weather in western France, is sending prices of Bordeaux soaring 28% within a one-month time. WSJ reported that Château Lafite Rothschild’s 2009 Bordeaux began its advance sales in early July at $18,000 a case. They were sold out in four days and the same case now is going for $23,000 (see graph from WSJ). WSJ indicated some Hong Kong investors, betting on China's wine thirst, are … [visit site to read more]

Stock Markets At The Crossroads: Mostly In Cash Now Posted: 15 Sep 2010 09:50 PM PDT Another day of consolidation in the markets which is just what the doctor ordered for the bulls as the market quietly works off overbought conditions. It seems like sooner rather than later the bulls are going to take a crack at top of the multi-month trading range that the markets find themselves in i.e. 1130 on S&P and 2325 on Nasdaq. Personally speaking, I decided to go heavily in cash Wednesday selling WABCO Holdings (NYSE:WBC) for 1.3% gain, Aruba Networks (NASDAQ:ARUN) for 2% gain and … [visit site to read more]

Thursday Stock Market Outlook: Earnings Reports & Job Report Posted: 15 Sep 2010 09:40 PM PDT Instratrader Indicators: Red Flag: We Expect Lower Prices Ahead Daily Technical Sentiment Indicators: Optimistic (Bearish) Short Term Market Condition:  Overbought (short term bearish) Short Term Trend: Up Medium Term Trend: Down Long Term Trend: Down It was a big day for government intervention as the Bank of Japan unleashed a one trillion yen effort to weaken the yen by selling yen and buying dollars.  In dollar terms, this is approximately $11.5 billion and if history … [visit site to read more]

The Future Of Coal ETFs Remains Prosperous Posted: 15 Sep 2010 09:17 PM PDT Coal is the second largest overall source of energy and has witnessed demand grow at rates higher than oil and natural gas over the past few years and is expected to continue do so paving the path to opportunity for the Market Vectors Coal ETF (KOL) and the PowerShares Global Coal Portfolio (NASDAQ:PKOL). One of the reasons coal is attractive is that it is cheap in relative terms.  When compared to crude oil, the average price of coal over the past fifteen years is roughly one-third the price … [visit site to read more]

Singapore Stock Market Update For Thursday 16 September Posted: 15 Sep 2010 06:41 PM PDT Market gapped up after modest gains from overnight DJ. 3043.28 has turned support for the time being. News update : 1) US industrial output increases for 14th consecutive month. 2) Dow industrials up 30 points as US stocks fend off early weakness. 3) US stocks finish higher as gains accelerate late in day ; Nasdaq up for sixth session. Quick picks : Hong Kong Land enter 6.15 SL 5.74 Genting enter 2.01 SL 1.82 (Stock broke out, but be cautious when trading) Genting HK enter 0.515 SL 0.435 … [visit site to read more]

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