Friday, September 17, 2010

Daily Markets - Forex Trading: Confidence In US Dollar Continues To Wane

Daily Markets - Forex Trading: Confidence In US Dollar Continues To Wane

Forex Trading: Confidence In US Dollar Continues To Wane

Posted: 17 Sep 2010 03:50 AM PDT

USD struggles as confidence in the greenback continued to wane, despite the slightly encouraging jobless claims. Clearly, the overarching concern of further Fed QE, being potentially announced at the next FOMC meeting, will keep the bulls in check. As the EURO & Gold are moving in similar directions, this move seem less like the classic risk appetite / aversions trade and more like a rapid exit from the USD. The EURO gained for the positive sentiment garnered from the successful … [visit site to read more]

Can The U.S. Afford To Call China A Currency Manipulator?

Posted: 17 Sep 2010 03:07 AM PDT

It seems like every six months the debate over China’s currency, the yuan, reaches a fevered pitch: The Washington bureaucrats threaten to label China a “currency manipulator” and Beijing threatens to dump its U.S. debt holdings.

Then, with the imminent approach of a major inflection point – be it a key international summit or major financial report – both sides grudgingly agree that a modest appreciation of the yuan would be mutually beneficial.

However, things could be slightly … [visit site to read more]

The Defeat Of The “Shadow Shogun” Means It’s Time To Buy Japanese Stocks

Posted: 17 Sep 2010 03:04 AM PDT

Japanese Prime Minister Naoto Kan’s narrow Tuesday victory over Ichiro Ozawa for the leadership of the Democratic Party of Japan wouldn’t normally get investor pulses racing – after all Japan has had five prime ministers in four years.

However, the Bank of Japan’s heavy intervention in the currency markets this week confirmed my view that this political twitch was really very different.

The upshot: As investors, we should pay attention … and should look to increase our allocation to … [visit site to read more]

Stock Picks For Friday 17 September: Expedia, Atmel Corporation

Posted: 17 Sep 2010 02:30 AM PDT

( click to enlarge )

Expedia, Inc. (NASDAQ:EXPE) is one of the hottest stocks of Nasdaq right now. The stock has been on a non-stop rally. On Thursday, EXPE hits a new 52-week high by climbing $1.03 cents or 3.86% to close at $27.69. Stock is again in breakout mode and the chart suggests a strong confidence in stock, no resistances above and RSI has space to move up more.

( click to enlarge )

Atmel Corporation (NASDAQ:ATML) shares closed the day on Thursday gaining more than … [visit site to read more]

Stocks Watchlist: JA Solar, ReneSola, Trina Solar,

Posted: 17 Sep 2010 01:45 AM PDT

Like I stated in the post earlier, I like the solar sector here and here are a few stocks from the sector that I fancy. I have commented on the charts itself.

JA Solar (NASDAQ:JASO)

ReneSola (NYSE:SOL)

Trina Solar … [visit site to read more]

Chart Of The Day: LDK Solar

Posted: 17 Sep 2010 01:35 AM PDT

Today’s Chart of the Day is LDK Solar (NYSE:LDK). I really like the solar sector here and will post some more picks from it later in the evening. I know the daily chart of LDK doesn’t look particularly appealing but it comes more from watching the tape rather than the chart.

I like the strength it has been showing and it finally managed to close over 8.15 Thursday. I am in this one at 8.15 and will think about doubling my position at a break of 8.25, the next resistance … [visit site to read more]

Forex Trading: Eurozone Current Account

Posted: 17 Sep 2010 01:02 AM PDT

Eurozone Current Account came in at -3.8 billion, slightly weaker than the -3.7 billion expected.
Eur/Usd continues to trade just south of … [visit site to read more]

Friday Market Analysis: Commodity Currencies Lower As Oil Continues To Grind Downwards

Posted: 17 Sep 2010 12:41 AM PDT

Equities:
Global equity markets swung wildly during the day as a host of negative data hit the wire. Never the less, equity markets refused to budge more than a couple of points. The Nikkei 225 lost 7pts after Wednesday's huge triple digit rally. The Nikkei closed out the Asian session at 9,509. European markets did not fair any better as the FTSE 100 dropped 15pts to 5,540 while the Stoxx Europe 50 gave back 20pts to close at 2,553. In the U.S, stock futures pointed lower at the open … [visit site to read more]

Will The Yen Intervention Work For Japan?

Posted: 17 Sep 2010 12:37 AM PDT

After much speculation and many flying rumors, Japanese government stepped in on Wednesday, Sep. 15 and intervened–sell yen, buy dollar–for the first time in six years. The yen had risen about 10% against the dollar this year, and just reached yet another new 15-year high against the US dollar, an eight-year high against the euro, on Tuesday, Sep. 14.

Graphic Source:  FT.com

In the context of a slowing economy, the rapid rise of yen is bad news as it hurts exports, … [visit site to read more]

Crude Oil Slide For Slides For A Third Day, Gold Reaches Yet Another Record

Posted: 16 Sep 2010 11:51 PM PDT

Commodities – Energy
Crude Oil Slide for Slides for a Third Day
Crude Oil (WTI) – $74.81 // $0.24 // 0.32%
Commentary: Crude got slammed on Thursday, extending its slide for a third day. The commodity lost $1.45, or 1.91%, falling despite a fairly quiet day in other financial markets. U.S. equities ended close to unchanged on the day, although they were down slightly for most of the session. In spite of that, crude oil continued to underperform due to the Enbridge pipeline premium coming out … [visit site to read more]

Forex Trading: US Economic Recovery Not So Bleak, Data Shows

Posted: 16 Sep 2010 11:49 PM PDT

US Economic Recovery Not So Bleak, Data Shows
This past week’s news has given some investors hope that an economic recovery is indeed underway in America, even if recent news has begun to comment about a pause. The US IBD/TIPP Economic Optimism gauge on Tuesday was 1.2 points higher than expected, while American retail sales also beat forecasts. Wednesday saw a minor slowdown in industrial production, but yesterday’s PPI, unemployment claims, and TIC long-term purchases reports all showed … [visit site to read more]

Growth & Income Stock: Telus Corp

Posted: 16 Sep 2010 11:05 PM PDT

Telus Corp (NYSE:TU) has a dividend yield hovering around 5% and is trading nears its 52-week high. It recently became a Zacks #1 Rank (strong buy) stock.
Telus is the second largest telecommunications company in Canada. It is based in Vancouver, British Columbia and has a market cap of $12.8 billion.
Second Quarter Results
Telus reported second quarter earnings per share of $0.92, 19% higher than in the same quarter of 2009. Total operating revenues were essentially flat year-over-year. The … [visit site to read more]

Bear Of The Day: Safeway, Inc. (SWY)

Posted: 16 Sep 2010 11:05 PM PDT

Unemployment and persisting deflation were primarily responsible for the sluggish revenue growth at Safeway (NYSE:SWY) for the past two quarters. The situation worsened with the company forecasting 1.2% deflation by the year end compared to the previous expectation of 0.4% inflation.
The scenario is better reflected in declining same-store sales which forced the company to lower its guidance for 2010. We also doubt the ability of the retailers to pass down the increase in prices to customers due … [visit site to read more]

Bull Of The Day: Acergy S.A.

Posted: 16 Sep 2010 11:05 PM PDT

Acergy’s (NASDAQ:ACGY) second-quarter results, despite marginally missing estimates, reflected good project execution skills and solid activity levels. With a healthy backlog, significant cash balances and no near-term refinancing requirements, Acergy should weather the challenging business environment better than many of its peers.
Our continued Outperform recommendation on Acergy ADRs also reflects the company’s high-quality client base, which mostly includes well-capitalized oil majors or … [visit site to read more]

Momentum Stock: Solarfun Power Holdings Co. Ltd.

Posted: 16 Sep 2010 11:05 PM PDT

Solarfun Power Holdings Co. Ltd. (NASDAQ:SOLF) recently spiked higher to a new multi-year high at $12.46 after reporting an average earnings surprise of 88% over the last four quarters. With a forward P/E of 6.5X, this Zacks #1 rank stock offers a unique combination of momentum and value.
Company Description
Solarfun Power Holdings Co. Ltd. is an investment holding company, develops and sells photovoltaic products and components. The company was founded in 2004 and has a market cap of $676 … [visit site to read more]

Singapore Stock Market Update For Friday 17 September

Posted: 16 Sep 2010 06:07 PM PDT

Market opened at 3074.61 after modest gains from overnight DJ.

News update :

1) FedEx lifts adjusted profit range for fiscal 2011 ; to combine freight operations, cut jobs.
2) Stocks declines pared after US weekly initial jobless claims fall to 450,000.
3) Fed gauge of Philadelphia-region economy negative for second straight month.
4) US poverty rate hits highest level since 1994 : Census Bureau.
5) Dow industrials, Nasdaq finish higher after late-session reversal ; S&P ends flat.
6) … [visit site to read more]

One Of A Kind

Posted: 16 Sep 2010 06:02 PM PDT

It’s hard not to be cynical these days, especially when it comes to the machinations of our so-called leadership in Washington. However, if our nation’s capital was populated with a few more thoughtful, conscientious, intelligent, and straight-shooting individuals like the one whose insights are featured in a recent Salon.com interview, “Exclusive: Elizabeth Warren in Her Own Words,” it’s possible I could be transformed into a full-blown optimist.

What are some of the values that were … [visit site to read more]

Gold Marks A New Record High, Crude Further Retraces And Risk Trends Light

Posted: 16 Sep 2010 05:08 PM PDT

North American Commodity Update
Commodities – Energy
A Growing Divergence Between US and UK Crude Exposes Particular Fundamental Drivers
Crude Oil (LS Nymex) – $74.57 // -$1.45 // -1.91%
There wasn't much guidance from either equities or FX markets Thursday; but that wouldn't prevent a significant move from developing for US-based oil. Crude marked its sharpest decline in 11 active trading days and subsequently bumped up its worst string of losses since the commodity pulled out of its … [visit site to read more]

Housing And Finance: Two Superimposed Crises And Bear Markets

Posted: 16 Sep 2010 03:40 PM PDT

My first post on the positive aspects of the mid-term election year cycle was way back on January 28 when I wrote:

I usually focus on what the charts say without paying too much attention to statistical stuff like this but there may be something to the impact of politics on the market this year. I contend that there hasn’t been a mid-term election in quite some time with as significant a financial impact as the one this coming November.
As the campaign truly heats up after Labor Day, the … [visit site to read more]
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