Monday, September 20, 2010

Daily Markets - Hot Stock News For Monday: Amazon, Oracle, Marvell, BP, HSBC, Barclays, Lloyds, BHP Billiton

Daily Markets - Hot Stock News For Monday: Amazon, Oracle, Marvell, BP, HSBC, Barclays, Lloyds, BHP Billiton

Hot Stock News For Monday: Amazon, Oracle, Marvell, BP, HSBC, Barclays, Lloyds, BHP Billiton

Posted: 20 Sep 2010 02:55 AM PDT

London Stock Exchange – Co. is in talks with a group of Wall Street and European banks about jointly building and funding a clearing house in London, according to the people familiar with the situation. (FT)

UK

UK Banks – The independent Banking Commission is expected to say this week that breaking up the biggest banks by separating their retail and investment arms would make the financial system safer. HSBC (NYSE:HBC), Barclays (NYSE:BCS) and Standard Chartered (STAN.L) are three of … [visit site to read more]

Technical Analysis Of Cost Plus, Inc. (CPWM)

Posted: 20 Sep 2010 02:47 AM PDT

Requested Chart Analysis for Cost Plus, Inc. (NASDAQ:CPWM).
Cost Plus, Inc. (CPWM)

A/D line: Strong uptrend since early August

ADX line: Buy signal on Sept 1st but trend is not strong

MACD: Bullish but starting to level off and pullback

CMF (21): Positive, .5 and over would be very bullish

OBV: Confirmed all moves in the PPS, normal

RSI: Strong uptrend nearing overbought territory

Resistance:

$4.07 (May 26th support broke and turned into resistance)

$4.07 (100-day Simple … [visit site to read more]

Very Risky To Go Long On Borders Stock Right Now

Posted: 20 Sep 2010 02:44 AM PDT

Requested Chart Analysis for Borders (NYSE:BGP).
Borders Group (BGP)

A/D line: Negative but slight increase lately

ADX line: Bearish but weak trend

MACD: Mostly flat

CMF (21): slightly negative

OBV: Confirmed all moves in the PPS, normal

RSI: Touching oversold territory and flat trend

Resistance:

$1.10 (20-day Simple Moving Average)

$1.17 (July 6th support broke and turned into resistance)

$1.25 (50-day SMA)

Support:

$1.01 (August 25th)

Technical Analysis: … [visit site to read more]

Forex Trading: Gbp/Usd Testing 100 Hour M/A To Downside

Posted: 20 Sep 2010 02:32 AM PDT

Gbp/Usd is threatening to break below its 100 hour M/A of 1.5584. For added support the 38.2% fibo of move up from 1.5346 to 1.5742 lies at 1.5581. The pair may be hard pressed to break through this first time down. If it does 1.5535-40 would be next support area. If the pair hold a move back to 1.5640-45 is … [visit site to read more]

The Bakken Oil Boom

Posted: 20 Sep 2010 01:01 AM PDT

The Bakken oil play is already one of the largest onshore oil discoveries in North America in decades.

But producers in both Canada and the US are still pushing out the "generally accepted" boundaries of the play – mostly to the west, into Alberta and into Montana from North Dakota – even as far as western Montana.

Rosetta Resources (NASDAQ:ROSE), Newfield (NYSE:NFX) and Quicksilver (NYSE:KWK) have all pushed the boundaries of what is known to be productive Bakken land – theirs is in … [visit site to read more]

Forex Trading: Will The Yen’s Bearish Momentum Continue?

Posted: 20 Sep 2010 12:53 AM PDT

Will The Yen’s Bearish Momentum Continue?
A very fascinating event took place last week as the Japanese leadership decided to intervene in the national currency’s trading. As planned, the Japanese yen fell against all the major currencies. At the moment, Japan is promising to fight the strong yen, and admits that further interventions could take place. Is the yen likely to fall further?
Economic News
USD – Positive U.S. Economic Data Spurs Demand for Risky Assets and Weakens the Dollar
The … [visit site to read more]

Forex Trading: Eur/Usd Ticking Higher

Posted: 20 Sep 2010 12:22 AM PDT

Eur/Usd has been ticking higher in recent trade. A look at the daily chart for the pair shows it is firmly above the 61.8% fibo retracement (1.2992) of move down from 1.3691 to 1.1861. The next level of daily resistance comes at the 200 day M/A of 1.3228. A test seems likely.
The aforementioned 61.8% level of 1.2992 should act as support to the … [visit site to read more]

Another Strike Against A Gold Standard

Posted: 20 Sep 2010 12:19 AM PDT

As the gold price moves to all-time highs, it’s useful to revisit the debate over the usefulness of a gold standard.

I have written before about the problems surrounding the inflexibility of a gold standard (see previous posts here and here). Now comes an NBER working paper by Douglas Irwin entitled Did France cause the Great Depression?  Here is the abstract:
The gold standard was a key factor behind the Great Depression, but why did it produce such an intense worldwide deflation and … [visit site to read more]

Crude Oil Struggles To Bounce After 4-Day Slide, Gold Approaches $1300

Posted: 19 Sep 2010 11:51 PM PDT

Commodities – Energy
Crude Oil Struggles to Bounce after 4-Day Slide
Crude Oil (WTI) – $73.80 // $0.14 // 0.19%
Commentary: Crude oil is slightly higher in overnight trade after falling four days in a row last week. Now that the Enbridge pipeline leak premium is out of the market, oil is forced to focus on the bearish underlying fundamentals of multi-decade high inventory levels and 5+ million barrels per day of spare capacity in OPEC. On the other hand, robust demand from emerging markets … [visit site to read more]

Bear Of The Day: Hudson City Bancorp (HCBK)

Posted: 19 Sep 2010 11:05 PM PDT

We are downgrading our recommendation on Hudson City Bancorp (NASDAQ:HCBK) to Underperform. The company’s second-quarter operating earnings came in just a penny ahead of the Zacks Consensus Estimate, primarily helped by lower interest expense, partially offset by an increase in provision for loan losses and a lower interest margin.
Though a solid business model and strong capital levels are upsides, we believe that the elevated levels of credit metrics remain a concern for the company. The recent … [visit site to read more]

Bull Of The Day: Avnet, Inc. (AVT)

Posted: 19 Sep 2010 11:05 PM PDT

Avnet (NYSE:AVT) revived its business quite well in fiscal 2010 after a disastrous 2009, driven by strong global demand. Business began to recover in the first quarter of fiscal 2010 as end demand improved and participants began to realize inventory in the technology supply chain at unsustainably low levels.
This propelled growth for the rest of fiscal 2010. Revenue is back to pre-recession levels and Asia continues to contribute the larger portion of the total. Asia was less impacted by the … [visit site to read more]

Momentum Stock: Joy Global Inc.

Posted: 19 Sep 2010 11:05 PM PDT

Joy Global Inc. (NASDAQ:JOYG) is trading near its 52-week high of $67.29 after raising guidance following a strong third quarter.
Joy Global manufactures heavy mining equipment. It was founded in 1884 and is headquartered in Milwaukee, Wisonsin.
Joy Global has a market cap of $6.8 billion. It is a Zacks #2 Rank (buy) stock.
Third Quarter Beat by 11%
The company reported third quarter earnings per share of $1.13, well above the Zacks Consensus Estimate of $1.02. Net sales were down 11% from the third … [visit site to read more]

Growth & Income Stock: CLARCOR Inc.

Posted: 19 Sep 2010 11:05 PM PDT

CLARCOR Inc (NYSE:CLC) was recently upgraded to a Zacks #2 rank (buy) after reporting solid third quarter results on September 15. The company beat the Zacks Consensus Estimate by 10%.
CLARCOR makes filter products for the industrial, mobile, and consumer markets. It was founded in 1904 and is headquartered in Franklin, Tennessee. It has a market cap of $1.9 billion.
Second Quarter Results
CLARCOR reported third quarter earnings per share of $0.55, up from $0.42 in the same period of 2009.
Third … [visit site to read more]

Aggressive Growth Stock: Littelfuse, Inc

Posted: 19 Sep 2010 11:05 PM PDT

Littelfuse, Inc (NASDAQ:LFUS) shares are up sharply since being featured as a Zacks Rank Buy in early July.
Company Description
Littelfuse makes a variety of electrical components that are used in the auto, computer and other industries. The company has facilities around the world, but is based in Chicago.
Sales Up 55%
On Aug 5 Littelfuse reported a 55% year over year jump in sales for the second quarter, to $157.5 million. This was also a 9% increase sequentially. Cash from operations more than … [visit site to read more]

Australian Dollar To Rise By 10% Against The Yen?

Posted: 19 Sep 2010 11:02 PM PDT

It's another manic Monday Forex friends! In today's FX feature I present to you the daily chart of AUDJPY. As you can see, the pair has recently broken out (upside) from a nice symmetrical triangle formation. This breakout could swing the pair towards its previous high near the 88.00 marker. Projecting the base of the triangle from the point of breakout, the resulting upside target would be at 88.00 as well. The Aussie's run, however, may be tempered for awhile because conditions … [visit site to read more]

Gold Continues Trend While S&P Joins Nasdaq In 1-2-3 Reversal

Posted: 19 Sep 2010 11:01 PM PDT

The S&P has now joined the Nasdaq 100 in completing the 1-2-3 reversal.

Now whether we get any follow through next week will depend on if the dollar continues down to test 80. Note that Friday was day 14 of the current daily cycle. We usually see a minor half cycle correction sometime around day 15 to 20.

So we should expect a short term top any day now. However I expect the pullback will just serve to dampen sentiment a bit so the next push higher can begin. If I had to guess … [visit site to read more]

Singapore Stock Market Update For Monday 20 September

Posted: 19 Sep 2010 06:18 PM PDT

Morning Highlights

Singapore market kicked off on a mixed note with STI down 0.88 points at 3075.49.

Midas gets approval for secondary listing in HK

UOB buys HSBC’s banknotes business for US$15 million

Watch Out For Economic News Today:

U.S September NAHB Housing Market Index

U.S August Housing Starts

Corporate Announcements:

Keppel is on schedule to deliver the first of two new generation derrick pipelay vessels to Global Industries.

Swiber appointed Francis Wong as CEO, … [visit site to read more]
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