Daily Markets - Have Americans Moved From Outrage To Resignation?

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• Have Americans Moved From Outrage To Resignation?
• Euro, British Pound Fall Sharply As USD/JPY Makes New 15-Year Low
• Crude Oil Gets Boost From Refinery Explosion, Gold Inches Toward All-Time Highs
• Forex Trading: Dollar Rallies On Weak German Data
• Forex Trading: EUR/USD Approaching 23.6% Retracement
• Bear Of The Day: McDermott International (MDR)
• Bull Of The Day: Ryder System, Inc. (R)
• Aggressive Growth Stock: The Cooper Companies, Inc.
• Aggressive Growth Stock: The Cooper Companies, Inc.
• Momentum Stock: Alliance Holdings GP, LP
• Growth & Income Stock: Meadowbrook Insurance Group, Inc
• The Unsustainable College Textbook Bubble
• Claymore To Launch 9 New Junk Bond ETFs
• Daily Stock Market Outlook: Selling Triggered By More Worries Coming Out Of Europe
• Obama To Unveil $350 Billion Stimulus Package To Restart US Economy
• British Pound Weakens Against The Swiss Franc
• Singapore Stock Market Update For Wednesday 08 September
• Stock Picks For Wednesday 8 September: Pfizer, YRC Worldwide Inc, Hemispherx BioPharma
• Gold Marks A Record High Close And Crude Retreats As Risk Appetite Retreats

Have Americans Moved From Outrage To Resignation? Posted: 08 Sep 2010 03:09 AM PDT The human spirit is not physically or emotionally able to maintain a heightened sense of acuity for an extended stretch. Although periods of stress or pain will cause sharp responses, eventually the human body is forced to accept the pain and learns to mask it. In the midst of our current economic crisis, I believe this distinct reality is setting in across our land. Let's rewind the tape and review the developments which emanated on Wall Street and then plundered Main Street. Fall 2008 … [visit site to read more]

Euro, British Pound Fall Sharply As USD/JPY Makes New 15-Year Low Posted: 08 Sep 2010 01:48 AM PDT Euro Dollar The Euro fell heavily during yesterday's Asian session, then it resumed the drop during the European session. After stopping just below the enormous resistance we talked about in Monday's report 1.2920 (Monday's high was 1.2916), we saw the Euro fall, breaking yesterday's support 1.2777 and successfully reached the first suggested target at 1.2690. With this drop, the price has broken 3 critical levels at once: 1. the rising trend line from Aug 31st (which was broken at … [visit site to read more]

Crude Oil Gets Boost From Refinery Explosion, Gold Inches Toward All-Time Highs Posted: 07 Sep 2010 11:51 PM PDT Commodities – Energy Crude Oil Gets Boost From Refinery Explosion Crude Oil (WTI) – $73.66 // $0.43 // 0.58% Commentary: Crude oil kicked off the new, holiday-shortened week on a down note, shedding $0.51, or 0.68%. Things were worse for the commodity in the early part of Tuesday's trade, as crude was down almost $2 at one point, but news of an explosion at the Cadereyta refinery in Mexico caused prices to rebound. Specifically, gasoline and distillate prices spiked and oil just came along … [visit site to read more]

Forex Trading: Dollar Rallies On Weak German Data Posted: 07 Sep 2010 11:21 PM PDT Dollar Rallies on Weak German Data Less than expected German factory orders and worries over the Irish fiscal situation ‎had traders bidding equities lower and buying into safe haven assets as USD/JPY and ‎the EUR/CHF fell to new lows.‎ Economic News USD – Greenback Rises on Safe Haven Buying The dollar put in a strong showing for a second day versus most of the major ‎currencies. Traders were quick to buy the dollar following a Wall Street Journal article ‎that highlighted European … [visit site to read more]

Forex Trading: EUR/USD Approaching 23.6% Retracement Posted: 07 Sep 2010 11:16 PM PDT The EUR/USD, which has been trading continually higher this session, is now approaching the 23.6% fibo line on the move from the high on September 6th to the low on the 7th. If the pair can continue the upward momentum and close above this line the next target is the 38.2% line at 1.27687. Some extra resistance is also added around this level by the 200 hour moving average, which comes in at … [visit site to read more]

Bear Of The Day: McDermott International (MDR) Posted: 07 Sep 2010 11:05 PM PDT We are downgrading McDermott International (NYSE:MDR) shares to Underperform from Neutral due to the tentative commodity price scenario and the company’s clouded post-split outlook. Near-term bookings remain lumpy at McDermott, as the current uncertain environment has adversely affected the economics of building new oil and gas infrastructure. Additionally, the transfer of the power generation and government operations has left McDermott with a less diversified business, thereby heightening its … [visit site to read more]

Bull Of The Day: Ryder System, Inc. (R) Posted: 07 Sep 2010 11:05 PM PDT We are upgrading our rating to Outperform on Ryder System (NYSE:R) following its second-quarter earnings. Second-quarter earnings surpassed the Zacks Consensus Estimate on stronger automotive volume, improved commercial rental demand and strong used vehicle sales. Ryder is planning for a better relative freight pricing market and more freight opportunities in 2010. With an improvement in market conditions, the company has ample balance sheet strength to support its capital spending. Ryder is … [visit site to read more]

Aggressive Growth Stock: The Cooper Companies, Inc. Posted: 07 Sep 2010 11:05 PM PDT The Cooper Companies, Inc. (NYSE:COO) surged to a multi-year high after beating Wall Street’s expectations last week. Bullish analysts continue to raise estimates, keeping valuations in check. Company Description The Cooper Companies is a global medical products maker focusing on specialty healthcare. The company operates through its subsidiaries, CooperVision and CooperSurgical. Solid Earnings Surprise On Sep 2 The Cooper Companies reported third-quarter results that included a 4% increase in … [visit site to read more]

Aggressive Growth Stock: The Cooper Companies, Inc. Posted: 07 Sep 2010 11:05 PM PDT The Cooper Companies, Inc. (NYSE:COO) surged to a multi-year high after beating Wall Street’s expectations last week. Bullish analysts continue to raise estimates, keeping valuations in check. Company Description The Cooper Companies is a global medical products maker focusing on specialty healthcare. The company operates through its subsidiaries, CooperVision and CooperSurgical. Solid Earnings Surprise On Sep 2 The Cooper Companies reported third-quarter results that included a 4% increase in … [visit site to read more]

Momentum Stock: Alliance Holdings GP, LP Posted: 07 Sep 2010 11:05 PM PDT Alliance Holdings GP, LP (NASDAQ:AHGP) recently hit a new all-time high of $40.44 after reporting a solid 28% Q2 earnings surprise in late July as the industry recovers from a tough 2009. With estimates on the rise and a hefty dividend yield of more than 5%, AHGP has some solid upward momentum. Company Description Alliance Holdings GP, LP, through its subsidiaries, produces and markets coal to utilities and industrial users in the United States and has a market cap of $2.27 billion. With the coal … [visit site to read more]

Growth & Income Stock: Meadowbrook Insurance Group, Inc Posted: 07 Sep 2010 11:05 PM PDT Meadowbrook Insurance Group (NYSE:MIG) recently posted its third consecutive positive EPS surprise (and 8th in the last 9 quarters). Company Description Meadowbrook is a specialty insurance underwriter and insurance administration services company. It is engaged primarily in developing and managing Alternative Market risk management programs for defined client groups and their members. Meadowbrook is headquartered in Michigan and has a market cap of $456 million. Solid Top Line Growth On August 2, … [visit site to read more]

The Unsustainable College Textbook Bubble Posted: 07 Sep 2010 08:39 PM PDT I’ve been covering the “higher education bubble,” see posts here and here.  One reason for the still-inflating higher education bubble for college tuition and fees is administrative bloat, see CD post here. A direct partner in the “higher education bubble” is the unsustainable “college textbook bubble,” captured graphically in the chart above.  To put the textbook bubble in perspective, consider that the unsustainable housing bubble started in the late 1990s when home prices … [visit site to read more]

Claymore To Launch 9 New Junk Bond ETFs Posted: 07 Sep 2010 08:17 PM PDT In an attempt to further broaden its arsenal of exchange traded funds [[ETFs]], Claymore Securities recently announced its plans to introduce nine target date high yield corporate bond ETFs with maturity dates ranging from 2012 to 2020.  These junk bond ETFs are expected to replicate indexes which consist of high yield debt securities, maintain a target termination date and will gradually be converted to cash, with an ultimate distribution being made to shareholders at the maturity … [visit site to read more]

Daily Stock Market Outlook: Selling Triggered By More Worries Coming Out Of Europe Posted: 07 Sep 2010 07:30 PM PDT Instratrader Indicators: Red Flag: We Expect Lower Prices Ahead Daily Technical Sentiment Indicators: Neutral Short Term Market Condition:  Overbought (short term bearish) Short Term Trend: Up Medium Term Trend: Down Long Term Trend: Down % of Stocks Above 200 Day Moving Average/Daily Change: 50.9%/ -9.9% % of Stocks Above 50 Day Moving Average/Daily Change:    64.3%/ -12.5% Major Market Update: Market                            … [visit site to read more]

Obama To Unveil $350 Billion Stimulus Package To Restart US Economy Posted: 07 Sep 2010 07:16 PM PDT Faced with pre-election polls showing strong Republican support leading up to the mid-term elections in November, President Barack Obama is floating a $350 billion stimulus package designed to assuage the fears of troubled homeowners and create jobs. In another move aimed at stabilizing a shaky economic recovery, the president today (Wednesday) will officially unveil a new $200 billion tax cut that gives businesses across the country incentives to buy new equipment, an anonymous … [visit site to read more]

British Pound Weakens Against The Swiss Franc Posted: 07 Sep 2010 07:06 PM PDT Hiyo FX peeps! Here's a weekly chart of the GBPCHF pair. As you can see, the pair has been trading sideways after hitting a low of 1.5118 back in December 29 back in 2008. Just recently, however, the Swiss franc was able to hurdle below the 1.5825 marker against the British pound. Given this price action, the next support that I see for the GBPCHF pair is the low that it marked in 2008 (1.5118). Hence, the pair could fall back to around the mentioned low unless it is able to climb … [visit site to read more]

Singapore Stock Market Update For Wednesday 08 September Posted: 07 Sep 2010 06:39 PM PDT Market trend downwards after Wall-street sell off. Opened low at 3015.93. Cautious trading is needed during this time period since market is very jittery. News update : 1) HP sues ex-CEO Mark Hurd, alleging hiring by Oracle could breach confidentiality deal. 2) US stocks close down for first session in five on European fears; Dow down 107 points. Analysts’ Recommendations : 1) Capitamalls Asia raised to overweight from Neutral by JPM (2010/09/08 07:34AM) 2) DJ Overseas Union Enterprise … [visit site to read more]

Stock Picks For Wednesday 8 September: Pfizer, YRC Worldwide Inc, Hemispherx BioPharma Posted: 07 Sep 2010 06:08 PM PDT ( click to enlarge ) Pfizer (NYSE:PFE) – The stock is still trading in a range with resistance at $16.53 and support near $15.75. The stock closed today near the middle at $16.34. Looking at the technical chart all indicators are still favorable but have weakened a bit today. As long as the stock stays above $16, the trend appears bullish. Only a close below $15.75 would warrant a change in sentiment. A fall below its key support level could drag down it to $15.35. ( click to … [visit site to read more]

Gold Marks A Record High Close And Crude Retreats As Risk Appetite Retreats Posted: 07 Sep 2010 01:01 PM PDT North American Commodity Update Commodities – Energy A Correction in Capital Markets Keeps Crude Under Wraps Crude Oil (LS Nymex) – $73.79 // -$0.51 // -0.68% US-based oil fell for the third consecutive active session at the official open to the trading week Tuesday. However, unlike many of its risk-sensitive counterparts, crude was would mark relatively reserved bearish progress through close of the day's electronic session. In fact, the commodity was ultimately little changed through the … [visit site to read more]

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