DailyMarkets.com - Are Gold And Silver Charts Signaling The Start Of A Deeper Reversal?

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• Are Gold And Silver Charts Signaling The Start Of A Deeper Reversal?
• Stocks To Watch For Wednesday: Bank Of America, JP Morgan, Wal-Mart, Home Depot, BHP Billiton, GlaxoSmithKline, Deutsche Bank
• Will We See The End Of The Euro As Debt Crisis Erupts In Ireland, Portugal, Greece And Spain?
• Forex – EUR/USD Hits Daily High After Ireland Agreement Reached
• Chile Well-Positioned To Be An Emerging-Markets Top Performer In 2011
• Record Hairy Crab Prices Signal Strong Economic Growth In China Next Year
• European Stocks Mixed As Ireland Agrees To Talks; DAX Up 0.39%
• Forex – GBP/USD Erases Losses After Upbeat U.K. Employment Data
• Forex – Dollar Broadly Lower Against Rivals As Irish Crisis Abates
• Forex – USD/CHF Turns Lower, Snapping 8-day Rally
• U.K. Claimant Count Change Falls Unexpectedly
• Forex – USD/JPY Hits Daily High Amid China Slowdown Concerns
• Forex – GBP/USD Slips Lower As Irish Debt Concerns Dominate
• Asia Stocks Mixed On Commodities, Weak Yen; Nikkei Gains 0.12%
• Forex – EUR/USD Hovering At 7-week Low As All Eyes On Ireland
• Can The Fed And Their Printing Presses Keep The Stock Market Afloat?
• Bull Of The Day: Genomic Health, Inc. (GHDX)
• Bear Of The Day: Plum Creek Timber Co. (PCL)
• Aggressive Growth Stock: Polo Ralph Lauren
• Momentum Stock: Sotheby's
• Growth & Income Stock: Northeast Utilities
• Crude Oil Slammed Amid Continued Risk Aversion, Gold Loses Nearly $100 Since Last Week
• Forex – EUR/USD Up During The Asian Session
• Buy Signals For GLD, GDX, SIL, AGQ: Are We There Yet?
• U.S. Stock Market: Changing Trading Strategy As Stocks Trend Down
• Forex – GBP/USD Down
• Discussing Investing In Income Producing Assets Like Bonds And Dividend Stocks With Benoit Poliquin, CFA Of Pallas Athena
• Forex – USD/JPY Up During The Asian Session
• Human Development: Mississippi Ranks Above Italy
• Forex – EUR/JPY Up During The Asian Session
• Forex – USD/CAD Down During The Asian Session
• Forex – NZD/USD Up During The Asian Session
• ‘People Just Don’t Have The Resources To Buy The Basics’
• Crude Sees Critical Break On Risk, Gold Takes Its Break From Margin Hike

Are Gold And Silver Charts Signaling The Start Of A Deeper Reversal? Posted: 17 Nov 2010 03:43 AM PST What levels should we be watching in Gold and Silver prices to see if this pullback phase is just an expected and overdue retracement… or perhaps the start of a deeper reversal? Let's take a quick look, starting with Gold: A sort of semi-indicator free pure price look reveals that the initial level to watch is the rising 50 day EMA, currently situated at the $1,330 level.  It held so far as support on Tuesday, but watch closely what happens here. There's prior price … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stocks To Watch For Wednesday: Bank Of America, JP Morgan, Wal-Mart, Home Depot, BHP Billiton, GlaxoSmithKline, Deutsche Bank Posted: 17 Nov 2010 03:30 AM PST GlaxoSmithKline (NYSE:GSK) – The FDA has voted 13-2 to recommend they approve the co.'s and Human Genome Sciences's Benlysta drug. (Sources) UK BHP Billiton (NYSE:BHP) – Co. plans to invest an additional USD 570mln on its existing Australian iron ore expansion plans. (RTRS) BT – Co. says it may take legal action against Ofcom, if it is refused permission to raise wholesale fees charged to competitors for using its network. (FT) ICAP – Co.'s H1 adjusted EPS GBP 20.8 vs. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Will We See The End Of The Euro As Debt Crisis Erupts In Ireland, Portugal, Greece And Spain? Posted: 17 Nov 2010 03:20 AM PST The Irish banking system is melting down right in front of our eyes.  Ireland, Portugal, Greece and Spain are all drowning in debt.  It is becoming extremely expensive for all of those nations to issue new debt.  Officials all over Europe are begging Ireland to accept a bailout.  Portugal has already indicated that they will probably be next in line.  Most economists are now acknowledging that without a new round of bailouts the dominoes could start to fall and we could see a wave of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Hits Daily High After Ireland Agreement Reached Posted: 17 Nov 2010 03:11 AM PST Forex Pros – The euro erased early losses against the Swiss franc on Wednesday, rising to a fresh daily high after Ireland agreed to work jointly with the European Union and the International Monetary Fund as part of a process which could lead to a bailout. EUR/USD hit 1.3527 during European morning trade, the daily high; the pair subsequently consolidated at 1.3501, gaining 0.07%. The pair was likely to find support at 1.3380, the low of September 28 and resistance at 1.3654, Tuesday's … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Chile Well-Positioned To Be An Emerging-Markets Top Performer In 2011 Posted: 17 Nov 2010 02:47 AM PST When I review each of the world’s emerging markets in order to decide which ones to buy in 2011, I start with two questions: Is the market cheap? And has it under-performed over the past year? If the answer is “yes” for both those questions, that market is much more likely to get my vote. But with every rule, there are also exceptions. As we will see. The Art of Emerging Markets Investing When you’re choosing which emerging markets to invest in, it’s important to keep this … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Record Hairy Crab Prices Signal Strong Economic Growth In China Next Year Posted: 17 Nov 2010 02:44 AM PST BEIJING, People’s Republic of China – While other investors are busy rounding up all sorts of economic data, tea leaves and fortune cookies in an attempt to figure out China’s economic situation next year, I’m heading out the door once again to take a look at hairy crab prices. Because of the timing of this trip, I’m a bit late in the season – but not enough that I won’t be able to get a good reading on this surprisingly accurate indicator of China’s economic health. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Stocks Mixed As Ireland Agrees To Talks; DAX Up 0.39% Posted: 17 Nov 2010 02:44 AM PST Forex Pros – European stocks were mixed on Wednesday, as shares in the financial sector led markets higher, while U.S. futures indexes pointed to a higher open on Wall Street. During European morning trade, the EURO STOXX 50 gained 0.46%; France's CAC 40 rose 0.46%; while Germany’s DAX was up 0.39%. Shares in the financial sector advanced after Ireland agreed to work jointly with the European Union and the International Monetary Fund as part of a process which could lead to a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Erases Losses After Upbeat U.K. Employment Data Posted: 17 Nov 2010 02:33 AM PST Forex Pros – The pound erased early losses against the U.S. dollar on Wednesday, rising to hit a fresh daily high after the release of significantly better-than-expected U.K. employment data. GBP/USD clawed up from 1.5853, the daily low, to hit 1.5924 during European morning trade, gaining 0.24%. Cable was likely to find support at 1.5761, the low of October 28 and resistance at 1.6086, Tuesday's high. Earlier in the day, official data showed that the number of people claiming … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Broadly Lower Against Rivals As Irish Crisis Abates Posted: 17 Nov 2010 02:14 AM PST Forex Pros – The U.S. dollar was broadly lower against its major counterparts on Wednesday, after Ireland agreed to work jointly with the European Union and the International Monetary Fund as part of a process which could lead to a bailout. During European morning trade, the greenback was down against the euro, with EUR/USD climbing 0.23% to hit 1.3522. Late Tuesday, euro zone finance ministers agreed that a team from the European Commission, the IMF and the European Central Bank team would … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Turns Lower, Snapping 8-day Rally Posted: 17 Nov 2010 01:53 AM PST Forex Pros – The U.S. dollar was down against the Swiss franc on Wednesday, hitting a daily low after snapping an 8-day rally, the longest series of gains since 2005. USD/CHF hit 0.9939 during European morning trade, the daily low, the pair subsequently consolidated at 0.9937, shedding 0.03%. The pair was likely to find support at 0.9828, Tuesday's low and resistance at 1.0073, the high of September 21. The dollar rallied after the Federal Reserve's November 3 decision to purchase … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.K. Claimant Count Change Falls Unexpectedly Posted: 17 Nov 2010 01:38 AM PST Forex Pros – The number of people claiming unemployment benefits in the U.K. fell unexpectedly in October, declining for the first time in three months, official data showed on Wednesday. In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 3,700 in October, after rising by 1,300 in September, whose figure was revised down from 5,300. Analysts had expected the claimant count to increase by 6,000 in October. Meanwhile, the rate of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Hits Daily High Amid China Slowdown Concerns Posted: 17 Nov 2010 12:45 AM PST Forex Pros – The U.S. dollar was up against the yen on Wednesday, rising to a daily high as concerns over a possible slowdown in the Chinese economy boosted demand for the dollar. USD/JPY hit 83.49 during early European trade, the daily high; the pair subsequently consolidated at 83.45, gaining 0.19%. The pair was likely to find support at 82.84, Tuesday's low and resistance at 83.97, the high of October 5. Earlier in the day, Chinese Premier Wen Jiabao said that his country's cabinet … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Slips Lower As Irish Debt Concerns Dominate Posted: 17 Nov 2010 12:21 AM PST Forex Pros – The pound was down against the U.S. dollar on Wednesday, slipping to a daily low amid concerns that Irelands debt problems could spread into other vulnerable euro zone countries. GBP/USD hit 1.5856 during late Asian trade, the daily low; the pair subsequently consolidated at 1.5877, shedding 0.05%. Cable was likely to find support at 1.5761, the low of October 28 and resistance at 1.6086, Tuesday's high. Some euro zone members were pushing for a bailout deal for Ireland to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Asia Stocks Mixed On Commodities, Weak Yen; Nikkei Gains 0.12% Posted: 16 Nov 2010 11:51 PM PST Forex Pros – Asian stocks were mixed on Wednesday, as shares in the commodity sector led markets lower, while Japanese exporters gained as the yen weakened further against the U.S. dollar. During late Asian trade, Hong Kong’s Hang Seng Index tumbled 1.87%, South Korea’s Kospi Composite shed 0.11%, while Japan's Nikkei 225 Index gained 0.12%. The Nikkei's gains came as shares in many of the big name Japanese exporters advanced as the yen continued to weaken against the U.S. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Hovering At 7-week Low As All Eyes On Ireland Posted: 16 Nov 2010 11:36 PM PST Forex Pros – The euro was down against the U.S. dollar on Wednesday, hovering above a 7-week low as European financial leaders continued to press Ireland to accept a bailout. EUR/USD hit 1.3468 during late Asian trade, a daily low; the pair subsequently consolidated at 1.3486, shedding 0.04%. The pair was likely to find support at 1.3380, the low of September 28 and resistance at 1.3654, Tuesday's high. Some euro-zone members were pushing for a bailout deal for Ireland to be finalized at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Can The Fed And Their Printing Presses Keep The Stock Market Afloat? Posted: 16 Nov 2010 11:10 PM PST It has been a tough couple of weeks, at best, for Dr. Bernanke and his colleagues at the Federal Reserve, since they've been under nearly unrelenting attack since their announcement of "QE2," the new $600 billion of bond purchases by the Fed. First it was the Chinese and Germans at the recent G20 meeting in Seoul and then, more recently, they have taken flak from economists and politicians alike. Sarah Palin led the political parade by issuing a "cease and desist" order … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bull Of The Day: Genomic Health, Inc. (GHDX) Posted: 16 Nov 2010 11:05 PM PST The third quarter of fiscal 2010 turned out to be the second consecutive profitable quarter for Genomic Health (NASDAQ:GHDX) with an EPS of $0.12, surpassing the Zacks Consensus Estimate of breakeven earnings. The company’s lead product, the Oncotype DX breast cancer test, recorded annualized growth of 17%. Although the colon cancer test launched earlier this year has yet to make a significant contribution to the top line, the situation could improve gradually as the company tries to receive … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bear Of The Day: Plum Creek Timber Co. (PCL) Posted: 16 Nov 2010 11:05 PM PST We are changing our long-term recommendation for Plum Creek Timber (NYSE:PCL) from Neutral to Underperform as we anticipate it to perform well below the broader market. In the last 30 days, fiscal earnings estimates have been lowered by nearly all analysts covering the stock, driven by the cyclical nature of the business, cut-throat competition, and strict environment policies. However, Plum Creek is the largest publicly-held timber REIT, with a diversified timber and land base that enables it to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Aggressive Growth Stock: Polo Ralph Lauren Posted: 16 Nov 2010 11:05 PM PST Polo Ralph Lauren Corp (NYSE:RL) recently extended its impressive earnings surprise streak as retail figures remain strong in the face of high unemployment. Earnings estimates are on the rise, pushing RL to a Zacks #1 Rank (Strong Buy) and there is still plenty of upside moving forward. Company Description Polo Ralph Lauren makes apparel, home furnishings, accessories and fragrances. Brands include the iconic Polo by Ralph Lauren, American Living, Chaps and several others. Great Quarterly … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Momentum Stock: Sotheby's Posted: 16 Nov 2010 11:05 PM PST Sotheby’s (NYSE:BID) recently hit a new multi-year high at $47.23 after reporting a solid 31% Q3 earnings surprise in early November. Estimates have since jumped higher, with the next-year estimate projecting 17% growth, providing plenty of momentum for this Zacks #1 rank stock. Company Description Sotheby’s, together with its subsidiaries, operates as an auctioneer of fine art, jewelry and collectibles in the US, China, England and France. The company was founded in 1744 and has a market cap of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Growth & Income Stock: Northeast Utilities Posted: 16 Nov 2010 11:05 PM PST Investors looking for a stock with both growth potential and a strong dividend may want to check out Northeast Utilities (NYSE:NU), New England’s largest utility company. The company recently delivered solid third quarter results, prompting management to raise its guidance for the rest of 2010. It also offers a stable dividend that it has been raising steadily since 2001. Valuations are also quite reasonable, making this Zacks #2 Rank (Buy) an attractive value. Third Quarter Results Northeast … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Slammed Amid Continued Risk Aversion, Gold Loses Nearly $100 Since Last Week Posted: 16 Nov 2010 10:51 PM PST Commodities – Energy Crude Oil Slammed Amid Continued Risk Aversion Crude Oil (WTI) – $82.37 // $0.03 // 0.04% Commentary: Crude oil plunged almost 3% on Tuesday, the third loss in as many days, to settle at $82.34. Oil has fallen almost 7.5% since putting in 25-month highs at $88.63 just last week. The catalyst for the latest move was continued European sovereign debt concerns. We are maintaining our position that this negative news flow is merely an excuse for traders to lock in recent … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The Asian Session Posted: 16 Nov 2010 10:47 PM PST Forex Pros – The Euro was higher against the U.S. Dollar on Wednesday. EUR/USD was trading at 1.3500, up 0.07% at time of writing. The pair was likely to find support at 1.3448, Tuesday's low, and resistance at 1.3776, Friday's high. Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.04% to hit 0.8496 and EUR/JPY rising 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Buy Signals For GLD, GDX, SIL, AGQ: Are We There Yet? Posted: 16 Nov 2010 10:18 PM PST In last weekend’s post I asserted that buy signals were on the way for gold, silver and their miners.  Well, this post is going to take a look at that assertion, show us the progress that has been made toward getting the BUY signals confirmed, and suggest the timeliness in which they may occur. First, a digression for the obligatory trading record stuff.  Tuesday I made one significant purchase of Global X Silver Miners ETF (SIL) at $21.50.  The chart is a 30 minute chart – both … [visit site to read more] or compare Best Credit Cards and Best CD Rates

U.S. Stock Market: Changing Trading Strategy As Stocks Trend Down Posted: 16 Nov 2010 10:09 PM PST It was one-way traffic on the Street today as the bears simply steam rolled the bulls. Usually, when the market gaps down above an important resistance or below an important support, the gap does not get filled, at least on the same day. That is exactly what happened Tuesday with the S&P gapping below the important MA(20) level and staying below it. If I was forced to pick any positive for the bulls Tuesday, it would be the comeback, if you can term it so, in the last 45 minutes or … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down Posted: 16 Nov 2010 09:30 PM PST Forex Pros – The British Pound was lower against the U.S. Dollar on Wednesday. GBP/USD was trading at 1.5880, down 0.04% at time of writing. The pair was likely to find support at 1.5840, Tuesday's low, and resistance at 1.6184, Friday's high. Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.04% to hit 0.8496 and GBP/JPY rising 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Discussing Investing In Income Producing Assets Like Bonds And Dividend Stocks With Benoit Poliquin, CFA Of Pallas Athena Posted: 16 Nov 2010 09:00 PM PST Note: This interview was conducted on November 4th, 2010. Building on the approach and principles of Benjamin Graham, Philip Fisher, Warren Buffet, John Templeton and Peter Lynch, Benoît Poliquin strives to own shares of ongoing and valuable businesses. Owning top tier companies in Canada and around the globe that have demonstrated a history, ability and willingness to increase their dividends is what Mr. Poliquin places the greatest emphasis on. "We do not invest in the latest, or the next … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up During The Asian Session Posted: 16 Nov 2010 08:30 PM PST Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Wednesday. USD/JPY was trading at 83.39, up 0.10% at time of writing. The pair was likely to find support at 81.66, Friday's low, and resistance at 83.59, Tuesday's high. Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.17% to hit 1.3515 and GBP/USD rising 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Human Development: Mississippi Ranks Above Italy Posted: 16 Nov 2010 07:57 PM PST The chart above is from The Economist, and shows that in terms of “human development” (heath, education and wealth), many U.S. states (Connecticut, NY, Wyoming, California, Illinois and Florida) rank ahead of Australia, Switzerland, Canada and Japan, and even more amazing is that Kentucky ranks ahead of France, Arkansas ranks ahead of the U.K., and Mississippi ranks ahead of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/JPY Up During The Asian Session Posted: 16 Nov 2010 07:30 PM PST Forex Pros – The Euro was higher against the Japanese Yen on Wednesday. EUR/JPY was trading at 112.60, up 0.19% at time of writing. The pair was likely to find support at 111.06, Friday's low, and resistance at 113.64, Monday's high. Meanwhile, the Euro was up against the U.S. Dollar and the British Pound, with EUR/USD gaining 0.16% to hit 1.3513 and EUR/GBP rising 0.19% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Down During The Asian Session Posted: 16 Nov 2010 06:50 PM PST Forex Pros – The U.S. Dollar was lower against the Canadian Dollar on Wednesday. USD/CAD was trading at 1.0218, down 0.06% at time of writing. The pair was likely to find support at 1.0028, Friday's low, and resistance at 1.0254, Tuesday's high. Meanwhile, the U.S. Dollar was down against the Euro and up against the British Pound, with EUR/USD gaining 0.07% to hit 1.3500 and GBP/USD falling 0.07% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Up During The Asian Session Posted: 16 Nov 2010 06:15 PM PST Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Wednesday. NZD/USD was trading at 0.7683, up 0.07% at time of writing. The pair was likely to find support at 0.7653, Tuesday's low, and resistance at 0.7812, Friday's high. Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.02% to hit 1.2720 and EUR/NZD rising 0.05% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

‘People Just Don’t Have The Resources To Buy The Basics’ Posted: 16 Nov 2010 05:25 PM PST I don’t get it. If, as the bulls say, the U.S. economy is primed full of Fed-created easy money; investors have lots of cash on the sidelines; corporate profits are near historic highs and businesses have the healthiest balance sheets they’ve had in years; and, the wealthy are really opening up their wallets, how is it, as WBIR-TV reveals in “Report Finds Millions of American Families Struggle to Put Food on the Table,” that so many people are just barely getting by? A federal report … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Sees Critical Break On Risk, Gold Takes Its Break From Margin Hike Posted: 16 Nov 2010 04:16 PM PST North American Commodity Update Commodities – Energy Speculative Strength Finally Succumbs to Reality as Crude Breaks Bull Trend Crude Oil (LS Nymex) – $82.34 // -$2.52 // -2.97% In the past two and a half months, oil has climbed approximately $16 – or 22 percent. While some energy bulls may try to attribute this advance to growth projections that feed into boosting the market's expectations for demand; such an explanation is self-serving. It isn't a coincidence that oil was advancing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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