Tuesday, September 7, 2010

Daily Markets - Why Spending On 0% Balance Transfer Credit Cards Is A Big No-No

Daily Markets - Why Spending On 0% Balance Transfer Credit Cards Is A Big No-No


Why Spending On 0% Balance Transfer Credit Cards Is A Big No-No

Posted: 07 Sep 2010 07:53 AM PDT

0% balance transfer credit cards are useful to have if you want to consolidate any high-interest debt. A balance transfer card repays the debts on other credit or store cards, so your debt is transferred from cards which charge high interest to the balance transfer card, which is usually at a special low or 0% rate for an introductory period of time.

The 0% balance transfer cards have many advantages but one thing you shouldn’t do with it is to spend on it.

Here’s why:

1) It’s not 0% … [visit site to read more]


US Stock Market Could Pullback This Week, Leaving Room For More Gains In The Weeks Ahead

Posted: 07 Sep 2010 07:47 AM PDT

The markets staged a relief rally last week that reflects Wall Street’s attitude about the overall economy. Simply put, investors are saying they can live with slow growth, so long as the U.S. can avoid a double-dip recession.

Stocks leapt around the world last week like jets of water shooting out of a fountain that had been closed down for weeks. The major U.S. indexes rose 3%, the NASDAQ rose 4%, non-U.S. foreign big-caps rose 3.6% and small-caps rose 4.6%.

Many of our plays on … [visit site to read more]


FDA OKs Quidel Pregnancy Test

Posted: 07 Sep 2010 07:35 AM PDT

Leading rapid diagnostic test solutions provider Quidel Corp. (NASDAQ:QDEL) has received 510 (k) clearance from the U.S. Food and Drug Administration (FDA) for its new pregnancy test solution.
The test, called "RapidVue hCG", is a lateral flow pregnancy immunoassay (a biochemical test) designed for the detection of human Chorionic Gonadotropin (hCG), a hormone produced in pregnancy. It represents Quidel's fourth product launch in the U.S. in 2010.
The RapidVue hCG test has been classified by … [visit site to read more]


Forex Trading: GBPUSD Falls Below The 38.2% Retracement Support

Posted: 07 Sep 2010 07:13 AM PDT

The GBPUSD is moving below the 38.2% retracement of the move up from the May low to the August high. The key Fibonacci level comes in at the 1.5321 level.  If the price can remain below this key level the bias remains to the downside with a move toward 1.5282 being  the next target. This is support that connects the lows from the August 24th and August 31st lows off the hourly chart (see line below).  Additional support below comes on the parellel channel trendline off the … [visit site to read more]


BSD Medical Settles Merger Suit

Posted: 07 Sep 2010 07:05 AM PDT

Cancer treatment systems maker BSD Medical Corp. (NASDAQ:BSDM) has reportedly reached a settlement with shareholders, who filed a lawsuit to block its proposed merger with Utah-based medical product maker Merit MedicalSystems Inc. (NASDAQ:MMSI).
Merit Medical agreed to acquire Massachusetts-based BSD Medical on May 13, 2010, for roughly $96 million in cash. The offer (valued at $4.38 per BSDM shares) represented a 54% premium over BSD Medical's closing price of $2.84 on May 12. BSD Medical's shares … [visit site to read more]


BP Revitalizes Alaska Assets Sale

Posted: 07 Sep 2010 07:05 AM PDT

BP plc. (NYSE:BP) has revitalized the sale of its fields in Alaska. The Financial Times reported that the U.K. oil giant is planning to offload part of its stake in Prudhoe Bay, the giant Alaskan field.
BP holds a 26% stake in Prudhoe Bay and also enjoys the opertorship. The newspaper is unsure about the company's intent to sell its entire stake in the field. Apache Corp. (NYSE:APA), an U.S. oil and gas company, seems to be the potential buyer for this sale.
BP had been in discussion with Apache … [visit site to read more]


Forex Trading: EURUSD Test Borderline Levels And Hold. Eying 1.2768-71 Above

Posted: 07 Sep 2010 06:58 AM PDT

Pfizer Terminates Deal

Posted: 07 Sep 2010 06:35 AM PDT

Recently, Pfizer (NYSE:PFE) announced its decision to pull out of an agreement with Celldex Therapeutics (CLDX) to develop the brain tumor vaccine rindopepimut (PF-04948568 / CDX-110) as the development of the vaccine no longer constituted a strategic priority for the pharmaceutical giant. CDX-110, in mid-stage studies, is an immunotherapy vaccine targeting a molecule that is present only in tumor cells.
 
With Pfizer pulling out of the agreement, all global rights for the development and … [visit site to read more]


Stock Market News Briefs: Air Products And Chemicals, Airgas, Barclays PLC, Goldman Sachs Group, Hewlett-Packard Company, Jefferies Group, Lubrizol, Morgan Stanley, Noble, Nokia, Occidental Petroleum, Pioneer Natural Resources Company, Schlumberger N.V., Oracle Corporation

Posted: 07 Sep 2010 06:35 AM PDT

 Air Products & Chemicals (NYSE:APD) raised its offer for Airgas (NYSE:ARG) to $65.50 from $63.50 per share, equalling $5.5 billion

 Oracle (NASDAQ:ORCL) announced the appointment of former Hewlett-Packard (NYSE:HPQ) CEO Mark Hurd as co-President

 Goldman Sachs (NYSE:GS) added Oracle shares to its Conviction Buy List, with a price target of $27

 Barclays (NYSE:BCS) announced that its investment bank head, Robert Diamond, will take over as chief executive when current CEO John Varley … [visit site to read more]


Nordstrom’s August Sales Up

Posted: 07 Sep 2010 06:35 AM PDT

Nordstrom Inc. (NYSE:JWN), one of the leading players in the highly fragmented specialty retail sector, reported total sales of $615.0 million for the month of August 2010, up 13.6% from $160.2 million in the year-ago period. The company's comparable store sales grew 6.3% for the month, ahead of the Street forecast of 5.9%.
 
In the month of August, Multi-channel same-store sales jumped 7.5%, driven by the jewelry, dresses and women's shoes categories. Full-line comparable store sales … [visit site to read more]


Swiss Franc: Under Pressure

Posted: 07 Sep 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Japanese Yen: The Downside Prevails

Posted: 07 Sep 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


British Pound: Rebound

Posted: 07 Sep 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


Euro: Rebound

Posted: 07 Sep 2010 06:18 AM PDT

Update on supports and resistances. … [visit site to read more]


U.S. Rig Count Snaps 12 Week Gain

Posted: 07 Sep 2010 06:05 AM PDT

In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (NYSE:BHI) reported a fall in the U.S. rig count (number of rigs searching for oil and gas in the country), reflecting a decrease in the land rig count.
 
Rigs exploring and producing in the U.S. totaled 1,653 for the week ended September 3, 2010. This is down by 3 from the previous week's rig count and represents the first decline in 13 weeks. Despite this, the current nation-wide rig count is 89% higher from … [visit site to read more]


Delta’s August Traffic Increases

Posted: 07 Sep 2010 06:05 AM PDT

The world's largest airline, Delta Air Lines (NYSE:DAL) reported an increase in traffic for August 2010 compared with August 2009.
 
During the month, Delta Airlines' traffic, measured in billions of revenue passenger miles, increased 1.1% year over year to 18.94 billion. Capacity or available seat miles were up 1.2% and load factor (percentage of seats filled with passengers) was 86.5%, flat year over year. The jump in traffic was due to a growth in international routes, particularly in … [visit site to read more]


Christina Sommers: Where The Boys Are(n’t)

Posted: 07 Sep 2010 05:50 AM PDT

“If boys are in trouble, it’s a women’s issue – we’re all in trouble.”

Christina Sommers talks about the effects of a philosophy that can be somewhat hostile to young men: Women’s Rights. Advocating for recognition of gender differences while maintaining equality, Sommers discusses the implications, risks, and consequences of consistently supporting and encouraging females … [visit site to read more]


Valuation-Informed Indexing Either Valuations Matter Not At All Or They Matter A Great Deal Indeed

Posted: 07 Sep 2010 05:11 AM PDT

by Rob Bennett
We have been living in a twilight zone for the past 30 years.
University of Chicago Professor Eugene Fama's Efficient Market Theory became the dominant academic explanation of how stock investing works in the 1960s. It was incorporated into the Buy-and-Hold Model, which became extremely popular during the huge bull market. But while the bull was raging forward Yale Professor Robert Shiller published research showing that valuations affect long-term returns. That means that … [visit site to read more]


Forex Trading: EURUSD Sharply Lower Overnight As NY Enters For The Day

Posted: 07 Sep 2010 04:51 AM PDT

The NY Opening Forex Commentary outlines the key technical levels as NY enters for the day. THe EURUSD fell sharply. GBPUSD had an up and down ride. USDJPY was pressured as rates remained unchanged. EURJPY also was pressured and AUDUSD fell on the back of RBA unchanged policy and PM Gillards ability to form a … [visit site to read more]


German Factory Orders Unexpectedly Declines In July, Risk Aversion Regains Its Footing

Posted: 07 Sep 2010 04:30 AM PDT

Fundamental Headlines

• Stress Tests Missed Debt at EU Lenders – Wall Street Journal

• Where's the Appetite for Risk? – Wall Street Journal

• Euro Under Pressure and Treasury Yields Dip – Financial Times

• Unemployment in U.S> May Approach 10% as Economic Growth Remains "Feeble"- Bloomberg

• Gillard Set Form Australian Government After Winning Independent Votes – Bloomberg

EUR/USD: German factory orders in July unexpectedly fell 2.2 percent … [visit site to read more]


‘I Love The Delusion Of The Markets At This Point In The Cycle’

Posted: 07 Sep 2010 04:27 AM PDT

Since I started publishing Financial Armageddon in late-2006, I’ve often railed against the incompetence and tomfoolery of highly-paid Wall Street “strategists” (note the double quotes). Many of these so-called experts are clueless data-regurgitators or ivory tower economists with above average communications skills. Indeed, it seems to me that most of the “stars” of the forecasting game are simply being rewarded for having the gift of gab, rather than their ability to look past the trees … [visit site to read more]


Hot Stock News For Tuesday 7 September: HP, Oracle, Shell, HSBC, Barclays, Glaxo, British Airways

Posted: 07 Sep 2010 04:27 AM PDT

British Airways (BAY) – Union leaders are seeking talks next week during the Trades Union Congress to avert further strikes and break the stalemate in the long-running dispute over co.'s cabin crew. (FT) In other news, co. would be interested in discussing a merger with Qantas Airways, if Australia's top airline was a willing party, co.'s Chief Executive Willie Walsh said. (RTRS)

UK

Shell (RDS-A) – Co. is in exclusive talks with Finnish fuel distributor St1 to sell the … [visit site to read more]


Taking Advantage Of The Growth In Emerging Markets With Luisa Moreno, PhD Of Lusight Research

Posted: 07 Sep 2010 04:10 AM PDT

Luisa Moreno, PhD is a metals and mining analyst at Lusight Research

If a global economic recovery, especially in the emerging markets, is what you believe in, then investing in resources and commodities is likely one way to take advantage of that growth. As huge segments of the population in India, China and Brazil move from rural areas to cities to earn their living, construction of houses and infrastructure needs to take place to accommodate this massive influx of people. Resources such as … [visit site to read more]


AdvisorShares Withdraws Application For Emerald Rock Active ETFs

Posted: 07 Sep 2010 04:00 AM PDT

On September 3rd, AdvisorShares, the Bethesda, Maryland based provider of actively-managed ETFs, filed a withdrawal request with the SEC to withdraw the registration for two Active ETFs – the Emerald Rock Low-Priced Focused Growth ETF (LOWP) and the Emerald Rock Dividend Growth ETF (DIVI). No reasons were specified for the withdrawal other than that the company decided not to pursue registration of the securities at this time.
AdvisorShares had filed an amended 485POS document with the SEC in … [visit site to read more]


European Bank Stress Tests Confirmed As Shams

Posted: 07 Sep 2010 03:53 AM PDT

I have long since given up the belief that our government officials and financial regulators will demand real transparency and  full disclosure in the pursuit of unquestioned integrity across our economic landscape. While some may deem me overly cynical for that statement, too much proof and too many situations leave me no other choice. Where do we witness more financial artifice this morning? Let's look across the pond.
In late July, I questioned the integrity of the European Bank … [visit site to read more]


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