DailyMarkets.com - Is The Fed Completely And Totally Out Of Control?

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• Is The Fed Completely And Totally Out Of Control?
• 10 Canadian Value Stocks That Are Trading Above Their Pre 2008 Highs
• Forex Trading: Eurozone Economic Confidence Highest Since Jan. 2008
• Wall Street Arbitration “Going Public” But FINRA Owes America A Lot More Than That
• Forex Trading: EUR/USD Approaching Full Daily Retracement
• The Seven Lean Years Scenario Is Still Intact
• Forex Trading: USD Tumbles Against Rivals Following Disappointing News
• Crude Oil Consolidates Ahead Of Inventory Report, Gold Breaks To New Highs Above $1300
• How To Stop Currency Manipulation Without A Trade War
• Growth & Income Stock: Archer Daniels Midland Co
• Aggressive Growth Stock: Provident Service Corp.
• Momentum Stock: AutoZone, Inc.
• Bear Of The Day: Kirkland's, Inc. (KIRK)
• Bull Of The Day: CIGNA Corp. (CI)
• More Investors Betting Ireland Will Go The Way Of Greece
• Stock Trading Decisions And Emotions
• Stock Chart Of The Day: Compania de Minas Buenaventura
• The U.S. Has More Than 12,000 Tariffs
• Longer-Term Outlook For US Stock Market Remains Tentatively Bullish
• Singapore Stock Market Update For Wednesday 29 September
• Gold Marks A Critical Break Of $1300 While Crude Is Virtually Unmoved

Is The Fed Completely And Totally Out Of Control? Posted: 29 Sep 2010 03:45 AM PDT What in the world is going on over at the Federal Reserve?    Has it gotten to the point where the Federal Reserve is completely and totally out of control?  There is increasing speculation in the financial community that the Federal Reserve is on the verge of unleashing another round of quantitative easing.  In fact, at their September meeting, Federal Reserve officials hinted very strongly that quantitative easing is very much on their minds when they stated that the Federal Open … [visit site to read more]

10 Canadian Value Stocks That Are Trading Above Their Pre 2008 Highs Posted: 29 Sep 2010 02:52 AM PDT John Daly is a Senior Editor at Report on Business magazine at The Globe and Mail It's been 2 years since the financial crisis of 2008 and a large number of so called blue-chip equities have yet to regain the levels reached prior to the crisis. On aggregate, Canadian equities remain about 20% below their pre-meltdown high while U.S. markets are still roughly 30% below their peaks. Given the large number of investors, institutional and retail alike, that were caught offside by the crisis of … [visit site to read more]

Forex Trading: Eurozone Economic Confidence Highest Since Jan. 2008 Posted: 29 Sep 2010 02:03 AM PDT Eurozone Economic Confidence came in at 103.2, stronger than the 101.3 expected and the strongest reading since Jan. 2008. The Business Climate Indicator came in at 0.77, stronger than the 0.58 expected. Eur/Usd gained 20 points upon release, currently trading at … [visit site to read more]

Wall Street Arbitration “Going Public” But FINRA Owes America A Lot More Than That Posted: 29 Sep 2010 01:49 AM PDT Those who care about truth, transparency, and integrity while navigating our financial markets and economic landscape won another round in our ongoing battle today. How so? As with any business, disputes and disagreements will always occur. How those disputes are adjudicated has always been a subject of much consternation on Wall Street and more so throughout America. Why? Many investors felt the mandated arbitration process disadvantaged investors against Wall Street firms because the … [visit site to read more]

Forex Trading: EUR/USD Approaching Full Daily Retracement Posted: 29 Sep 2010 12:15 AM PDT The EUR/USD pair is nearing a full retracement on the daily chart on the move from the high on April 12th to the low on June 7th with the 100.0% fibo line coming in at 1.36910. After moving through the 200 day moving average, now at 1.31952, the pair has traded continually higher. If momentum continues we should see a full … [visit site to read more]

The Seven Lean Years Scenario Is Still Intact Posted: 29 Sep 2010 12:10 AM PDT The was some recent buzz in the blogosphere when Jeffrey Hirsch of the Stock Traders’ Alamanac forecast that the Dow would go on an eight-year tear with a target of 38,820 (see the full comment here). Most commentators focused on the maginitude of the gain. Lost in the noise of the forecast was that the start of the bull market would begin in 2017. I have written about this in the past. A lot of long-term analysis is pointing toward the 2017-8 as the start of a new bull, meaning that … [visit site to read more]

Forex Trading: USD Tumbles Against Rivals Following Disappointing News Posted: 28 Sep 2010 11:57 PM PDT USD Tumbles Against Rivals Following Disappointing News A disappointing US consumer confidence report released yesterday, caused the ‎greenback to take heavy losses against virtually all of its main currency rivals. The ‎dollar appears to have stabilized in overnight trading, but only after it hit a more ‎than 2-year low against the Swiss franc. Analysts are doubtful about whether the ‎USD can bounce back from these losses in the near future.‎ Economic News USD – Greenback Falls … [visit site to read more]

Crude Oil Consolidates Ahead Of Inventory Report, Gold Breaks To New Highs Above $1300 Posted: 28 Sep 2010 11:51 PM PDT Commodities – Energy Crude Oil Consolidates Ahead of Inventory Report Crude Oil (WTI) – $76.54 // $0.36 // 0.47% Commentary: It was another muted day for crude oil price action, as the commodity dipped $0.34, or 0.44%, on the session. Prices continue to consolidate last week's gains, as elevated inventory levels prevent oil from surging in step with the equity markets. Nevertheless, continued gains in broader financial markets should enable crude oil to break above $80 in the coming weeks, … [visit site to read more]

How To Stop Currency Manipulation Without A Trade War Posted: 28 Sep 2010 11:23 PM PDT With the US threatening to label China a "currency manipulator", this column presents a plan to address global imbalances without risking a trade war. It proposes a "reciprocity" requirement – if the US can't buy Chinese government bonds, then China can't buy US bonds either. The endless discussions about global imbalances, and China's supposedly self-serving exchange-rate policy, have for along resembled discussions about the weather; everybody talked about it, … [visit site to read more]

Growth & Income Stock: Archer Daniels Midland Co Posted: 28 Sep 2010 11:05 PM PDT Archer Daniels Midland (NYSE:ADM) reported fourth quarter earnings per share of 69 cents, crushing the Zacks Consensus Estimate by 38%. Shares are trading near their 52-week high and analysts have raised their estimates significantly higher following the strong quarter. About ADM Odds are that something you’ve eaten today was made with at least one ingredient that came from ADM. Cereals, sodas, juices, candy, dairy, meat – ADM provides ingredients for all of these. The Decatur, Illinois based firm … [visit site to read more]

Aggressive Growth Stock: Provident Service Corp. Posted: 28 Sep 2010 11:05 PM PDT Providence Service Corp (NASDAQ:PRSC) raised guidance recently, which has made the valuations even more attractive. Company Description Providence provides home and community social services related to government programs like welfare, juvenile justice, Medicaid and corrections. Raising Guidance On Sep 21 Providence raised its third-quarter and full-year guidance. The company said it continues to see Medicaid eligibility and referrals. While third-quarter revenue is expected to be slightly higher, … [visit site to read more]

Momentum Stock: AutoZone, Inc. Posted: 28 Sep 2010 11:05 PM PDT AutoZone, Inc. (NYSE:AZO) has been on an incredibly smooth trend higher for the last year, recently hitting a new multi-year high after reporting better-than expected Q4 results in late September. Company Description AutoZone, Inc, is as a specialty retailer and distributor of automotive parts and accessories. The company operates 4,389 stores in the United States and Puerto Rico and 238 in Mexico and has a market cap of $10.27 billion. Fourth-Quarter Results Revenue for the period was up 9.5% … [visit site to read more]

Bear Of The Day: Kirkland's, Inc. (KIRK) Posted: 28 Sep 2010 11:05 PM PDT Kirkland’s (NASDAQ:KIRK) reported meager second-quarter 2010 results with earnings of $0.16, which was below the Zacks Consensus Estimate by $0.02. The company’s susceptibility to the global economic downturn coupled with stiff competition, severely undermines the company’s future growth prospects and profitability. The global economic environment has been challenging for the past fifteen months. Declining real estate value, reduced lending by banks, solvency concerns of major financial … [visit site to read more]

Bull Of The Day: CIGNA Corp. (CI) Posted: 28 Sep 2010 11:05 PM PDT We are upgrading our recommendation on the shares of CIGNA (NYSE:CI) to Buy as we believe the recent acquisition of Vanberda international will boost the company’s thriving international operations, which is key to the growth of the company. Moreover, CIGNA has lower exposure to reform risks than other insurers, and thus has an edge with respect to the Health Care Reform Act. A strong balance sheet and adequate liquidity will lead to continued share buybacks, contributing to the bottom line. CIGNA … [visit site to read more]

More Investors Betting Ireland Will Go The Way Of Greece Posted: 28 Sep 2010 09:28 PM PDT The cost to insure Irish bonds against a government default jumped to a record yesterday (Tuesday) after Standard & Poor’s said the cost of bailing out nationalized lender Anglo Irish Bank Corp. could exceed $47 billion. Contracts on credit default swaps (CDS) on Anglo Irish bonds rose 1.5 basis points to 937.5, implying a 56% probability of default within five years, after earlier climbing to an all-time high of 960.5. Credit-default swaps pay the buyer face value in exchange … [visit site to read more]

Stock Trading Decisions And Emotions Posted: 28 Sep 2010 09:12 PM PDT Since I have already posted my thoughts on the intraday reversal earlier today, I thought I would just do a detailed post on my trades today. I have gone in detail about the rationale behind my each and every move, some potentially right and some potentially wrong, today. I took a position in BVN, a peruvian gold miner, at 42.80, which happens to be today’s Chart of the Day. This buy was based on the momentum behind gold miners today in general, and the consolidation in this stock in … [visit site to read more]

Stock Chart Of The Day: Compania de Minas Buenaventura Posted: 28 Sep 2010 09:04 PM PDT Today’s Chart of the Day is a Peruvian gold miner, Compania de Minas Buenaventura SA (NYSE:BVN). After weeks of consolidation around the MA(20), it finally broke the 42.70 level Tuesday, and it did so on decent volume. I had blogged about this stock this weekend and again Tuesday as it was just trying to break this level. I got in at 42.80. Hope some of you readers played this too! With the momentum that the gold bulls have, and the consolidation this stock went through, I expect this stock … [visit site to read more]

The U.S. Has More Than 12,000 Tariffs Posted: 28 Sep 2010 09:01 PM PDT Most Americans think of the U.S. as a free-trade country with open markets, and China as a protectionist country with closed markets.  And yet the U.S. is quite protectionist, with more than 12,000 tariffs (i.e.taxes) on imported products that are sometimes as high as 350% in the case of tobacco (pictured above); 164% on peanuts; 100% on jam, chocolate and ham; and 48% on sneakers, see the 25 American Products That Rely On Huge Protective Tariffs To … [visit site to read more]

Longer-Term Outlook For US Stock Market Remains Tentatively Bullish Posted: 28 Sep 2010 08:57 PM PDT Yesterday in Markets Tentatively Bullish on Economy, Mid-Terms, and Earnings, we focused on weekly and monthly charts, which are more relevant to longer-term investors than daily charts. On a daily chart of the S&P 500, we see three basic scenarios in the short-term: Market pulls back and finds support somewhere in or above the yellow box below, which stands between 1,090 and 1,117. Market continues to advance and does so with convincing breadth and volume, which may bring in … [visit site to read more]

Singapore Stock Market Update For Wednesday 29 September Posted: 28 Sep 2010 07:01 PM PDT Morning Highlights Singapore stock prices opened slightly higher following Wall Street’s gains overnight, with STI up 18.62 points to open at 3115.97. Watch Out For Economic News Today Japan Q3 Tankan Manufacturing Outlook (Japan’s tankan business-sentiment index improves more than expected, but forecast dimmer‏) Euro-zone September Consumer Economic September Confidence Corporate Announcements Midas announced that its offer price for its secondary listing in HK exchange is at … [visit site to read more]

Gold Marks A Critical Break Of $1300 While Crude Is Virtually Unmoved Posted: 28 Sep 2010 05:08 PM PDT North American Commodity Update Commodities – Energy A Lack of Speculative Direction and a Mix for Event Risk Keeps Oil Stationary Crude Oil (LS Nymex) – $76.18 // -$0.34 // -0.44% Price action for crude would closely follow the path that equities would lay out Tuesday. This relatively restrained level of activity and complete lack of direction draws a direct contrast to gold, Treasuries and the US dollar (the latter of which is the primary pricing instrument for WTI-oil). The reason for this … [visit site to read more]

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