Daily Markets - JP Morgan Shuts Proprietary Trading

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• JP Morgan Shuts Proprietary Trading
• Forex Trading: Eurozone Final Manufacturing PMI
• A Major Breakout In Gold & Silver Mining Stocks May Be Brewing
• Time To Sell Australia
• Crude Oil Looks To Inventories And Economic Data, Gold Buoyed By Investor Appetite
• Forex Trading: ADP Non-Farm Employment Change On Tap ‎
• Momentum Stock: Aliance Resource Partners LP
• Growth & Income Stock: Inter Parfums Inc.
• Bear Of The Day: BJ's Wholesale Club (BJ)
• Bull Of The Day: AutoNation, Inc. (AN)
• Aggressive Growth Stock: Megellan Health Services
• Take Note Of This Pattern That’s Forming In The US Stock Market
• Singapore Stock Market Update For Wednesday 01 September
• Forex Trading: Japanese Yen Approaching All-Time High Against US Dollar
• Investors In The Geothermal Space Need To Be Patient
• US Stock Market Trading In Narrow Range
• Three ETFs To Play Copper’s Expected Rise
• Free Health Care

JP Morgan Shuts Proprietary Trading Posted: 01 Sep 2010 02:11 AM PDT Two weeks ago on an afternoon visit to New York City, I was struck by the changed tone, atmosphere, and demeanor during the meetings I had with a number of Wall Street professionals. The fact that the tone has changed does not necessarily mean that the industry as a whole is entirely chastened by the failings—if not worse—both going into and coming out of the crisis. Without deeply meaningful efforts and accompanying results to promote real transparency and increased disclosures, the … [visit site to read more]

Forex Trading: Eurozone Final Manufacturing PMI Posted: 01 Sep 2010 01:02 AM PDT The euro gained some strength after final manufacturing PMI came in at 55.1; better than the forecast and prior reading of 55.0. On the back of this release, the EUR made a new session high of 1.2734 against the … [visit site to read more]

A Major Breakout In Gold & Silver Mining Stocks May Be Brewing Posted: 01 Sep 2010 01:01 AM PDT The global debt crisis and the war on deflation by the Federal Reserve is causing precious metals to approach a key resistance level.  Gold is nearing a 52 week high while silver is close to breaking $19.  A break above these levels on high volume could be the beginning of a major move higher. Gold and silver has been a safe haven asset.  Many concerns were expressed if miners would collapse in a weak equity market.  However, since the last Federal Reserve meeting, gold and silver … [visit site to read more]

Time To Sell Australia Posted: 01 Sep 2010 12:01 AM PDT Back in late May I suggested that a cheap way to buy Canadian-like equity exposure would be to buy the Australian market, as both markets and economies are fairly similar. The chart below shows the relative returns of the iShares Australia ETF (EWA) relative to iShares Canada (EWC) and what the pair has done since the call: Since my post, the Australian market has beaten the Canadian market by about 8%. The maximum outperformance of this trade was about 11%. The pair trade has reached … [visit site to read more]

Crude Oil Looks To Inventories And Economic Data, Gold Buoyed By Investor Appetite Posted: 31 Aug 2010 11:51 PM PDT Commodities – Energy Crude Oil Looks to Inventories and Economic Data Crude Oil (WTI) - $72.28 // $0.36 // 0.50% Commentary: Crude oil got slammed on Tuesday, losing $2.78, or 3.72%. In addition to the persistent economic worries that have been plaguing risk assets in general, crude oil was also pressured by the prospect of another bearish inventory report on Wednesday. As readers are aware, U.S. inventories are at multi-decade highs, with each subsequent week merely adding to the large … [visit site to read more]

Forex Trading: ADP Non-Farm Employment Change On Tap ‎ Posted: 31 Aug 2010 11:40 PM PDT ADP Non-Farm Employment Change on Tap ‎ After the U.S. dollar corrected some of its gains yesterday, a new trading day, packed with significant ‎economic publications is ahead. Most attention should be given to the U.S. ADP Non-Farm Employment ‎Change, which attempts to estimate Friday’s release of Non-Farm Payrolls. Current expectations are for a ‎positive result, will the dollar erase yesterday’s losses?‎ Economic News USD - Dollar Weakens Despite Positive Consumer Confidence … [visit site to read more]

Momentum Stock: Aliance Resource Partners LP Posted: 31 Aug 2010 11:05 PM PDT Aliance Resource Partners LP (NASDAQ:ARLP) recently hit a new multi-year high at $55.54 on a 32% earnings surprise from late July. With estimates climbing on the back of growing demand, this Zacks #1 rank stock has some solid upward momentum. Company Description Alliance Resource Partners LP engages in the production and marketing of coal for utilities and industrial users in the United States. The company was founded in 1971 and has a market cap of $1.98 billion. Coal companies struggled through a … [visit site to read more]

Growth & Income Stock: Inter Parfums Inc. Posted: 31 Aug 2010 11:05 PM PDT Inter Parfums, Inc. (NASDAQ:IPAR) saw sales rise 22% on record results for the second quarter as consumers resumed purchases of luxury perfumes. Inter Parfums manufactures perfumes and cosmetics under worldwide licensing deals with well-known brands such as Burberry, Van Cleef & Arpels, Jimmy Choo, Paul Smith, Montblanc and S.T. Dupont. The company also produces personal care products for a host of specialty retailers such as the Gap, Banana Republic, Brooks Brothers, and bebe. It just entered … [visit site to read more]

Bear Of The Day: BJ's Wholesale Club (BJ) Posted: 31 Aug 2010 11:05 PM PDT BJ’s Wholesale Club (NYSE:BJ) posted lower-than-expected second-quarter 2010 results. The quarterly earnings of $0.67 per share missed the Zacks Consensus Estimate of $0.73. The company hinted that the quarter has been challenging, as it faced intense competition from supermarket stores trying to grab market share by going aggressive in their pricing. This compelled BJ’s to make pricing adjustments at the cost of margin. BJ’s forecast a sluggish economic recovery and a weak consumer spending … [visit site to read more]

Bull Of The Day: AutoNation, Inc. (AN) Posted: 31 Aug 2010 11:05 PM PDT AutoNation (NYSE:AN) remains focused on improving its product mix and cost-cutting initiatives. The company’s profit increased 36% in the second quarter of 2010 and surpassed the Zacks Consensus Estimate by $0.02 per share. Cost reduction revolved around lower interest expense, disciplined operations and inventory management. The company’s strong new vehicle unit sales are expected to be boosted further by its recent acquisitions of three dealerships. These factors have led us to upgrade our … [visit site to read more]

Aggressive Growth Stock: Megellan Health Services Posted: 31 Aug 2010 11:05 PM PDT Magellan Health Services, Inc. (NASDAQ:MGLN) is up sharply since its latest earnings surprise. Thanks to estimate revisions, shares are still a good value and are showing stability in a rough market. Company Description Magellan Health Services is a health care management company servicing health plans, corporations and government agencies. “Delightful” Results On Jul 29 Magellan Health Services reported second-quarter results that included a 17% increase in revenue, to $742 million. Net income came … [visit site to read more]

Take Note Of This Pattern That’s Forming In The US Stock Market Posted: 31 Aug 2010 11:01 PM PDT It’s the same price pattern I’ve been highlighting for quite some time now, but perhaps now is a good time to define the pattern, show it, and state what it means for traders. Reference my prior post: “Magic Mystery Buyers in the S&P 500 Define Bull/Bear Battle.” First, the pattern: A lot of people are picking up on this pattern - or at least they should.  What is it? So far, every other day, the S&P 500 has tested the key 1,040 level exactly, and each time - … [visit site to read more]

Singapore Stock Market Update For Wednesday 01 September Posted: 31 Aug 2010 10:51 PM PDT Morning Highlights Singapore market started positive, with STI up 8.14 points to open at 2958.47. Other Asian stock markets are also moving higher, with solid economic data from China and Australia helping investors overcome some early jitters over the health of the global economic recovery. Singapore’s Q3 GDP to grow 11.6%: MAS poll Ezra falls to 3-month low on rights issue Watch Out For Economic News Today: China August PMI Manufacturing (China’s official PMI rose to 51.7 in … [visit site to read more]

Forex Trading: Japanese Yen Approaching All-Time High Against US Dollar Posted: 31 Aug 2010 10:25 PM PDT Good day ladies and gents. Well, it’s been a pleasant couple of months or even years for the Japanese yen bulls. As you can see, the USDJPY has sunk for 4 consecutive months in a row! It’s actually been on a downward slope since the last quarter of 2007! Nice. You see, the pair was running at a high of 124.16 back in 2007. Tuesday, it touched a low of 83.59. That’s a gain of more than 4,000 pips in just three years for the yen over the greenback! The yen bulls would be celebrating … [visit site to read more]

Investors In The Geothermal Space Need To Be Patient Posted: 31 Aug 2010 10:01 PM PDT Wellington West Analyst Sean Peasgood covers the geothermal, plasma gasification and “Smart Grid” subsectors of the alternative energy (AE) market. He believes there’s room to make some dough in each of them but believes investors may need to be patient as these growing markets gain traction. “As these (geothermal) projects come online and are proven out, the reward to investors is going to be large,” Sean says. He even reveals some names to help you earn your reward in this exclusive … [visit site to read more]

US Stock Market Trading In Narrow Range Posted: 31 Aug 2010 09:49 PM PDT While the bears didn’t gain any ground Tuesday, the bulls couldn’t get anything going either.  With consumer confidence coming in slightly better than expected (yet not a strong number), the bulls tried to make a move north.  Unfortunately, they quickly lost steam and we traded in a tight range all day long before ending the day about even. We had strong volume Tuesday, not typical for this historically slow season.  I mostly attribute it to short covering and many longs anxious to … [visit site to read more]

Three ETFs To Play Copper’s Expected Rise Posted: 31 Aug 2010 09:17 PM PDT Despite weaknesses in US demand for copper, the metal has been trading at its highest level in the past four months paving the path to opportunity for the iPath Dow Jones Copper Index (JJC), the PowerShares DB Base Metals (DBB) and the iShares MSCI Chile Index (ECH). The US, which is the world's second largest consumer of copper, is expected to witness weaknesses in demand for copper as the nation's housing sector continues to take a beating.  In July of this year, sales of … [visit site to read more]

Free Health Care Posted: 31 Aug 2010 08:29 PM PDT And it’s not in Canada or the U.K….it’s right here in the United … [visit site to read more]

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