DailyMarkets.com - Financial Stocks To Watch On Wednesday: American Express, Discover Financial Services

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• Financial Stocks To Watch On Wednesday: American Express, Discover Financial Services
• A Bullish Continuation Pattern Developing In The U.S. Stock Market?
• Fed Crossing The Line?
• US Dollar Index Approaching Important Support Level
• Forex Trading: Euro Breaks Higher Following German Factory Orders
• Global Macro Trading With Michael Yhip Of Garrison Hill Capital Management
• Forex Trading: Eurozone Final GDP As Expected
• Danger! Will Robinson!
• Forex Trading: ADP Non-Farm Employment Change On Tap
• Crude Oil Gains On ISM Index, Gold Surges On Sinking Dollar
• Forex Trading: Eurozone Final GDP Q/q Due Out At 5 Am EST
• The Emerging Anti-Trade Coalition, And Its Dangers
• Growth & Income Stock: RadioShack Corp
• Momentum Stock: Baidu, Inc.
• Bull Of The Day: American Superconductor (AMSC)
• Bear Of The Day: Kirkland's, Inc. (KIRK)
• Aggressive Growth Stock: RC2 Corp.
• Asia Could Boost Solar ETFs
• Building For The Future?
• Singapore Stock Market Update For Wednesday 06 October
• How Can The Bank Of Japan Spark A Rally In Gold And Crude?

Financial Stocks To Watch On Wednesday: American Express, Discover Financial Services Posted: 06 Oct 2010 03:47 AM PDT There were two criteria that today’s Chart of the Day had to fulfill – (1) it should be from the financial sector, as it was financials that led the market higher Tuesday (2) should not be very far from the MA(20). And this is what led me to Discover Financial Services (NYSE:DFS). Nice bullish volume pattern the last couple of weeks. MA(20) was tested and held up Monday, always a bullish sign for a stock in uptrend in my book. What makes the stock even more interesting is the weekly … [visit site to read more]

A Bullish Continuation Pattern Developing In The U.S. Stock Market? Posted: 06 Oct 2010 03:41 AM PDT A strong gap-up Tuesday morning started a bullish yet concerning trend north that lasted the entire day.  Most market players looking at the charts today think this simply shows a strong bullish move north that means they need to start aggressively buying more long positions but, I see a reason to be concerned. For a while now, we have known that High Frequency Trading (HFT) runs the market but, many don't know how impactful they can be.  For those who have years of investing … [visit site to read more]

Fed Crossing The Line? Posted: 06 Oct 2010 03:33 AM PDT New York Federal Reserve Bank (Fed) president Bill Dudley's speech Friday attracted much press attention, as it should have. His speech is correctly read, as in the press commentary, as providing a broad hint of more policy easing to come. During my tenure as president of the St. Louis Fed, I overlapped with Dudley, who, along with being president of the New York Fed, is Vice Chairman of the Federal Open Market Committee (FOMC). I know him to be a competent and cautious policymaker. It … [visit site to read more]

US Dollar Index Approaching Important Support Level Posted: 06 Oct 2010 03:32 AM PDT The dollar seems to be approaching an important support level – 77.45. The following two charts illustrate the importance of this level on both daily and weekly time … [visit site to read more]

Forex Trading: Euro Breaks Higher Following German Factory Orders Posted: 06 Oct 2010 03:08 AM PDT After this last upward move from yesterday's low to the high of 1.38583, the pair tested that level multiple times but could not made a clear break through to the upside. Following the release of better than expected German factory orders the pair made an upward break and a new session high of 1.3880. A close on the hourly chart above this level may be a bullish sign for the … [visit site to read more]

Global Macro Trading With Michael Yhip Of Garrison Hill Capital Management Posted: 06 Oct 2010 02:22 AM PDT Our fascination with global capital markets has a lot to do with the myriad ways involved participants can make money in them. We recently discussed event driven, catalyst focused, special situation investing where we learnt that it is possible to make money without having to guess which direction the economy or the equity markets in general are headed. On the flip side of that coin, there are money managers who focus the greater part of their day analyzing global macro economic and political … [visit site to read more]

Forex Trading: Eurozone Final GDP As Expected Posted: 06 Oct 2010 02:01 AM PDT Final GDP came in as expected at 1.0%; unchanged from the prior … [visit site to read more]

Danger! Will Robinson! Posted: 06 Oct 2010 12:24 AM PDT I have learned over the years that my underlying investment outlook has a Value bias and that I suffer from the curse of Value investors everywhere by being too early. Often, I have found myself fighting the trend and underperforming as a result. One of the tools that I have used to mitigate that effect is to look for inflection points in sentiment and momentum. First of all, I agree with John Hussman that the US economy appears to be deteriorating (and his writes much more eloquently than I … [visit site to read more]

Forex Trading: ADP Non-Farm Employment Change On Tap Posted: 05 Oct 2010 11:53 PM PDT ADP Non-Farm Employment Change on Tap Today’s non-farm data from Automatic Data Processing Inc. (ADP) should give traders a glance into a sizeable portion of Friday’s Non-Farm Payrolls release, since it will be measuring the private sector of the US economy. Expectations are for a rise in employment of approximately 23,000 jobs. If the actual results are in line with forecasts, the USD could pare some of its recent losses. If not, expect the greenback to continue dropping against its … [visit site to read more]

Crude Oil Gains On ISM Index, Gold Surges On Sinking Dollar Posted: 05 Oct 2010 11:51 PM PDT Commodities – Energy Crude Oil Gains on ISM Index Crude Oil (WTI) – $82.68 // $0.14 // 0.17% Commentary: A better-than-expected reading on the ISM Non-manufacturing index sent U.S. equity markets soaring on Tuesday, with crude oil coming along for the ride. The commodity added $1.35, or 1.66%, to settle at $82.82, the highest level in two months. The Houston Ship Channel remains shut down, which is reducing crude oil deliveries to refineries in the area, but the closure is still expected to … [visit site to read more]

Forex Trading: Eurozone Final GDP Q/q Due Out At 5 Am EST Posted: 05 Oct 2010 11:50 PM PDT … [visit site to read more]

The Emerging Anti-Trade Coalition, And Its Dangers Posted: 05 Oct 2010 11:30 PM PDT Smoot-Hawley here we come. Willis Hawley and Reed Smoot, you may recall, sponsored the Tariff Act of 1930 that raised tariffs to record levels on more than 20,000 imported goods. The duo said this would protect American jobs and revive the economy. It did the reverse, plunging the nation into an even deeper depression. Other nations retaliated. Global trade plummeted. Americans got poorer, as did millions of others around the world. Why do I think we're on the way back to Smoot-Hawley? … [visit site to read more]

Growth & Income Stock: RadioShack Corp Posted: 05 Oct 2010 11:05 PM PDT RadioShack Corp (NYSE:RSH) has seen a resurgence thanks to its fast-growing wireless division. Analysts are expecting this growth to continue, and earnings estimates have been increasing as a result. The company is a retailer specializing in consumer electronics with stores and kiosks throughout the U.S. and Mexico. It has a market cap of $2.7 billion. Wireless Sales Drive Earnings RadioShack reported earnings per share of 41 cents, a 5% increase over the same quarter in 2009. Earnings were … [visit site to read more]

Momentum Stock: Baidu, Inc. Posted: 05 Oct 2010 11:05 PM PDT Baidu, Inc. (NASDAQ:BIDU) recently hit a new all-time high above $100 on strong Q2 results from late July that included a 13% earnings surprise. With an average earnings surprise of 17% over the last four quarters and rising estimates, BIDU looks like a solid momentum pick. Company Description Baidu, Inc. is an Internet search company based out of China. The company was founded in 2000 and has a market cap of $35 billion. Our last look at Baidu’s business came on July 22 when the company reported … [visit site to read more]

Bull Of The Day: American Superconductor (AMSC) Posted: 05 Oct 2010 11:05 PM PDT American Superconductor Corporation (NASDAQ:AMSC) is a technology company with products based on clean energy and power distribution. The two primary markets it serves are the rapidly growing areas of wind energy and smart grid infrastructure technology. A strong backlog of $952 million, a solid financial position, the recent acquisition of Blade Dynamics and growing international operations all add visibility to the growth story of American Superconductor. In the near-term, the stock is trading at … [visit site to read more]

Bear Of The Day: Kirkland's, Inc. (KIRK) Posted: 05 Oct 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]

Aggressive Growth Stock: RC2 Corp. Posted: 05 Oct 2010 11:05 PM PDT RC2 Corp (NASDAQ:RCRC) analysts keep raising their estimate outlook and the company continues to top those expectations. Company Description RC2 Corp makes products for mothers and young children that include toys, monitors, feeding systems and developmental items under 3 brand names: The First Years, Lamaze, and JJ Cole Collections. Licensed brands include Bob the Builder, Winnie the Pooh and Toy Story. Estimate Keep Climbing Current year estimates are not knocking anyone’s socks off, but are … [visit site to read more]

Asia Could Boost Solar ETFs Posted: 05 Oct 2010 08:17 PM PDT Nearly five months ago, the Asian Development Bank started a major drive to promote the use of solar power throughout the continent which could eventually lead to positive price support in the Guggenheim Solar ETF (TAN) and the Market Vectors Solar Energy ETF (KWT). Under this initiative, the Asian Development Bank aims to put in place solar power projects with a total capacity of 3,000 megawatts by 2013, pushing capacity to six times what it currently is.  The solar move is especially … [visit site to read more]

Building For The Future? Posted: 05 Oct 2010 06:48 PM PDT If the young are our future, a cynic might say the following post at Mandel on Innovation and Growth, “Where Young College Grads Are Finding Jobs: Government,” doesn’t offer much hope about the road ahead: Government has been the main hirer of young college grads over the past year . And why not? Government jobs are safer, they pay well, and have better benefits than the private sector. The next biggest hirer of young college grads is the broad category entitled professional and technical … [visit site to read more]

Singapore Stock Market Update For Wednesday 06 October Posted: 05 Oct 2010 06:28 PM PDT Morning Highlights Singapore stocks advanced on overnight Wall Street's gains, with STI up 20.58 points to open at 3182.94. Most of the Asian stock markets also posted solid gains, riding Wall Street’s coattails with Australian gold miners surging as the yellow metal hit a new record high. Watch Out For Economic News Today Euro-zone 2Q GDP U.S September ADP Employment Change Corporate Announcements Midas’ secondary listing on the HK stock exchange will start trading … [visit site to read more]

How Can The Bank Of Japan Spark A Rally In Gold And Crude? Posted: 05 Oct 2010 05:08 PM PDT North American Commodity Update Commodities – Energy A Rally in Risk Appetite Trends and Tumble for the Dollar Translates into Gains for Oil Crude Oil (LS Nymex) – $82.82 // $1.35 // 1.66% Last week's bullish drive behind oil was revived through Tuesday's session as the capital markets showed the evidence of a revived taste for risk appetite. And, despite the fact that this swell in demand for speculative assets was derived through government intervention and manipulation, traders will … [visit site to read more]

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