DailyMarkets.com - Bernanke Caught In A Lie: Didn’t He Pledge To Congress That The Fed Would Not Monetize U.S. Government Debt?

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• Bernanke Caught In A Lie: Didn’t He Pledge To Congress That The Fed Would Not Monetize U.S. Government Debt?
• Insiders Dumping Stocks At An Astonishing Rate: Should You Follow?
• Euro Zone Retail Sales Fall Unexpectedly
• Forex Trading: Eurozone Retail Sales
• Forex – EUR/USD Down During The European Session
• Forex – GBP/USD Down During The European Session
• With Oil Looking Good, Here Are Some Oil Stock Plays
• Stock Chart Of The Day: Rare Element Resources
• Stock Trading Plan For Friday (SBUX, GLD, GS, FCEL,TLEO)
• Words Of Caution For Both Stock Bulls And Bears
• US Dollar Index At 3-Year Trendline Support
• Houston Chronicle: Houston Economy Will Get Better, But Slowly
• Crude Oil Rises For A Fourth Day As 13-Month Highs Are Eyed, Gold Rockets To New All-Time Highs As The Dollar Sinks To New Lows
• Asian Markets Close Higher; Nikkei Up 2.86%
• Forex – EUR/USD Down During The Asian Session
• Bull Of The Day: EBay, Inc. (EBAY)
• Bear Of The Day: Range Resources Corp. (RRC)
• Growth & Income Stock: Cooper Tire & Rubber Co.
• Aggressive Growth Stock: Avnet, Inc
• Momentum Stock: Amerigroup Corp.
• Forex – GBP/USD Down During The Asian Session
• Forex – USD/JPY Up During The Asian Session
• Bull Markets: Taxi Medallions And Fine Art
• Forex – AUD/USD Down During The Asian Session
• Playing Gold Exploration With ETFs
• New Uranium ETF Supported By Demand For Nuclear Energy
• Forex – NZD/USD Down During The Asian Session
• Starbucks Brews Up A Strong 4Q Net Income
• Forex – GBP/JPY Up During The Asian Session
• Oil And Gold Surge To New Highs As The Dollar Tumbles, Risk Appetite Swells

Bernanke Caught In A Lie: Didn’t He Pledge To Congress That The Fed Would Not Monetize U.S. Government Debt? Posted: 05 Nov 2010 03:35 AM PDT On June 3rd, 2009 Federal Reserve Chairman Ben Bernanke promised the U.S. Congress that the Federal Reserve would not monetize the debt of the U.S. government.  On November 3rd, 2010 the Federal Reserve announced a massive quantitative easing plan which will involve the purchase of 600 billion dollars of U.S. Treasury securities by the middle of 2011.  Creating 600 billion dollars out of thin air and using them to buy up U.S. government securities is monetizing the debt.  So Federal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Insiders Dumping Stocks At An Astonishing Rate: Should You Follow? Posted: 05 Nov 2010 03:20 AM PDT The Federal Reserve announced its going to pump more than $800 billion of new cash into the economy. Financial assets, as they've done for the past two years, have responded strongly to the pump. There are, however, a lot of causes for concern. One of the big ones that recently grabbed a lot of headlines is record levels of insider selling. There's nothing that spooks investors like insider selling. The premise is a simple one. Insiders know their company best. They know how … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Zone Retail Sales Fall Unexpectedly Posted: 05 Nov 2010 03:15 AM PDT Retail sales in the euro zone fell unexpectedly last month, official data showed on Friday. In a report, Eurostat said that retail sales fell to -0.20%, from -0.20% in the preceding month whose figure was revised up from -0.40%. Analysts had expected retail sales to rise 0.10% last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: Eurozone Retail Sales Posted: 05 Nov 2010 03:02 AM PDT Eurozone Retail Sales m/m came in at -0.2%, weaker than the 0.3% expected and a slight improvement over the -0.4% prior reading. Eur/Usd currently trades at 1.4168, relatively … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down During The European Session Posted: 05 Nov 2010 02:00 AM PDT Forex Pros – The Euro was lower against the U.S. Dollar on Friday. EUR/USD was trading at 1.4196, down 0.07% at time of writing. The pair was likely to find support at 1.3864, Monday's low, and resistance at 1.4282, Thursday's high. Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.31% to hit 0.8759 and EUR/JPY falling 0.15% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down During The European Session Posted: 05 Nov 2010 01:15 AM PDT Forex Pros – The British Pound was lower against the U.S. Dollar on Friday. GBP/USD was trading at 1.6215, down 0.33% at time of writing. The pair was likely to find support at 1.5963, Tuesday's low, and resistance at 1.6299, Thursday's high. Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.46% to hit 0.8772 and GBP/JPY falling 0.34% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

With Oil Looking Good, Here Are Some Oil Stock Plays Posted: 05 Nov 2010 01:05 AM PDT With oil looking good, here are some oil plays. The hard part was finding stocks that have not broken up already as I am not in favor of chasing here. So, here are a few stocks that have consolidated nicely and are at or approaching important levels. As always, be sure to be aware of when these stocks are reporting before getting into them. Noble (NYSE:NE) Callon Petroleum (NYSE:CPE) Superior Energy Services … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Chart Of The Day: Rare Element Resources Posted: 05 Nov 2010 12:55 AM PDT Today’s Chart of the Day is Rare Element Resources (REE). What an uptrend! MA(20) has been constant support throughout this move. 10.84 has proved to be a resistance during the last three days. It can either be bought as a breakout play on a move over 10.85 or a pullback to MA(20). If you plan of playing it as a breakout play, be sure to confirm that the move is accompanied by heavy volume. A stop little distance below MA(20) should do the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Trading Plan For Friday (SBUX, GLD, GS, FCEL,TLEO) Posted: 05 Nov 2010 12:40 AM PDT We have now officially hit the highest levels in the market since the Lehman crisis first hit back in 2008. With all the artificial buying spurred on by the fed buying spree, we are rocketing so high so fast we could get to the point where we have a short term equity bubble. When you gap up after a huge run you will typically be getting close to the end. We will not call a top here, but this is what to look for. Once you get to overbought levels and you gap higher you next need to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Words Of Caution For Both Stock Bulls And Bears Posted: 05 Nov 2010 12:23 AM PDT The bulls couldn’t have asked for a better day with the new yearly highs being the icing on the cake. Not much to say about Thursday as it was pretty much one way traffic throughout the day. The board was all green but the financials deserve a special mention here as they broke through their multi-month range, and closed above the crucial 15 level. As the regular readers of this blog know, I just had one long position heading into Thursday – Solarfun Power (NASDAQ:SOLF). As I have stated … [visit site to read more] or compare Best Credit Cards and Best CD Rates

US Dollar Index At 3-Year Trendline Support Posted: 05 Nov 2010 12:13 AM PDT The dollar closed right at its three-year trendline. In fact, during the day, it was briefly below this trendline. A break of this trendline and the  markets continue higher, so keep an eye at this level on Friday. If we do break it, the next support are the December lows of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Houston Chronicle: Houston Economy Will Get Better, But Slowly Posted: 05 Nov 2010 12:06 AM PDT The following is a repost of an article by Ms. Wooty Sixel, a noted business columnist for the Houston Chronicle, where I was part of a 4-expert panel discussing the economic outlook of the U.S. as well as Houston, Texas.  The article appears on Chron.com and the print edition of the Sunday Chornicle Oct. 31, 2010. Quarterly report: Houston Economy will get better, but slowly By L.M. SIXEL HOUSTON CHRONICLE Oct. 30, 2010, 9:28PM For a while it looked as if Houston’s … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Rises For A Fourth Day As 13-Month Highs Are Eyed, Gold Rockets To New All-Time Highs As The Dollar Sinks To New Lows Posted: 04 Nov 2010 11:51 PM PDT Commodities – Energy Crude Oil Rises for a Fourth Day as 13-Month Highs are Eyed Crude Oil (WTI) – $87.09 // $0.60 // 0.69% Commentary: Crude oil rose for the fourth day in a row on Thursday. QE2, bullish economic data, and general optimism are all fueling buying across the spectrum of risk assets, and crude oil is no exception. Yesterday's bullish inventory report is another factor that has helped the commodity reach 6-month highs. Prices are now set to challenge this year's high at … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Asian Markets Close Higher; Nikkei Up 2.86% Posted: 04 Nov 2010 11:50 PM PDT Forex Pros – Asian stocks were up after the closing bell on Friday. At the close of Asian trade, Japan's Nikkei 225 index rose 2.86%, Australia's S&P/ASX 200 index gained 1.17%%, while Hong Kong's Hang Seng Index was trading 0.84% up. Meanwhile, the outlook for U.S. equity markets was downbeat. Dow Jones Industrial Average futures indicated a loss of 0.04%, S&P 500 futures pointed to a decrease of 0.03%% and Nasdaq 100 futures indicated a fall of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down During The Asian Session Posted: 04 Nov 2010 11:10 PM PDT Forex Pros – The Euro was lower against the U.S. Dollar on Friday. EUR/USD was trading at 1.4184, down 0.15% at time of writing. The pair was likely to find support at 1.3864, Monday's low, and resistance at 1.4282, Thursday's high. Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.06% to hit 0.8737 and EUR/JPY falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bull Of The Day: EBay, Inc. (EBAY) Posted: 04 Nov 2010 11:05 PM PDT eBay (NASDAQ:EBAY) is one of the largest online retailers in the world today. The company’s third quarter results beat the Zacks Consensus and guidance for the fourth quarter indicates an improving business. Restructuring of the Marketplaces segment, a focus on buying experience, continued momentum in the Payments segment, a growing presence on the mobile platform and a strong balance sheet indicate improving long-term results. Although competition continues to heat up and gross margin pressures are … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bear Of The Day: Range Resources Corp. (RRC) Posted: 04 Nov 2010 11:05 PM PDT Range Resources (NYSE:RRC) announced record-setting third-quarter 2010 production volume of 503 million cubic feet equivalent per day (MMcfe/d), up 15% from last year and 7% from the second quarter. While the company’s third quarter production increased mainly on the back of solid contribution from its core Marcellus Shale properties, this area is primarily over-pressured and, in some areas, contains rich gas that must be processed further. As such, Range Resources needs more capital as well as … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Growth & Income Stock: Cooper Tire & Rubber Co. Posted: 04 Nov 2010 11:05 PM PDT Shares of Cooper Tire & Rubber Company (NYSE:CTB) have been surging lately. Despite rising commodity prices, the tire maker recently reported a solid third quarter marked by higher sales and better than expected profitability. Analysts have been revising their estimates higher as they believe the company will be relatively successful in its attempt to thwart higher costs with price increases. The company also expects continued strength in emerging markets to drive earnings higher over the next … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Aggressive Growth Stock: Avnet, Inc Posted: 04 Nov 2010 11:05 PM PDT Avnet, Inc. (NYSE:AVT) has everything going its way. Shares are skyrocketing, but drastic estimate revisions are keeping valuation enticing. Also, this Zacks #1 Rank (Strong Buy) has a great earnings history and continues to grow both organically and through acquisition. Company Description Avnet distributes electronic components, computer and other tech products worldwide. The company cost-effectively connects suppliers with over 100,000 customers. Sales Jump 42% Avnet released first quarter … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Momentum Stock: Amerigroup Corp. Posted: 04 Nov 2010 11:05 PM PDT Amerigroup Corp. (NYSE:AGP) recently jumped to a new multi-year high after reporting an awesome Q3 earnings surprise that more than doubled the Zacks Consensus Estimate. Estimates have since followed suit, giving this Zacks #1 rank stock a big does of upward momentum. Company Description Amerigroup Corp. operates as a managed healthcare company that specializes in serving people who receive healthcare benefits through public programs like Medicare and Medicaid. It was founded in 1994 and has a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Down During The Asian Session Posted: 04 Nov 2010 10:15 PM PDT Forex Pros – The British Pound was lower against the U.S. Dollar on Friday. GBP/USD was trading at 1.6260, down 0.05% at time of writing. The pair was likely to find support at 1.5963, Tuesday's low, and resistance at 1.6299, Thursday's high. Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.00% to hit 0.8732 and GBP/JPY falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Up During The Asian Session Posted: 04 Nov 2010 09:30 PM PDT Forex Pros – The U.S. Dollar was higher against the Japanese Yen on Friday. USD/JPY was trading at 80.86, up 0.14% at time of writing. The pair was likely to find support at 80.33, Monday's low, and resistance at 81.57, Wednesday's high. Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.10% to hit 1.4192 and GBP/USD falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bull Markets: Taxi Medallions And Fine Art Posted: 04 Nov 2010 08:44 PM PDT 1. Taxi medallions in New York Citty reached an all-time record high of $614,000 in October for indvidual licenses.  2. Reuters — “Less than two years after a precipitous fall, the art market is flexing its muscles again, emboldened by recent auction records and an influx of determined international collectors rich with cash. Hordes of wealthy new buyers, ready to spend and anxious to build collections, are injecting life into a market hard-hit by the global financial crisis, experts … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down During The Asian Session Posted: 04 Nov 2010 08:40 PM PDT Forex Pros – The Australian Dollar was lower against the U.S. Dollar on Friday. AUD/USD was trading at 1.0148, down 0.01% at time of writing. The pair was likely to find support at 0.9814, Monday's low, and resistance at 1.0176, Thursday's high. Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.00% to hit 1.4000 and AUD/JPY rising 0.13% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Playing Gold Exploration With ETFs Posted: 04 Nov 2010 08:17 PM PDT With the implementation of QE2 around the corner, fears of inflation have elevated and the US dollar has been diminishing in value making precious metals even more appealing.  As a result, ETF provider, Global X, launched the Gold Explorers ETF (GLDX), which is the first pure play ETF offering exposure to gold exploration companies.   GLDX seeks to replicate the performance of the Solactive Global Gold Explorers Index, which is a benchmark that measures the performance of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New Uranium ETF Supported By Demand For Nuclear Energy Posted: 04 Nov 2010 08:17 PM PDT As emerging markets continue to grow and have insatiable energy demand, there are numerous reasons to watch nuclear energy and the Global X Uranium ETF (URA).  URA will be the first ETF to give exposure to a global pool of companies which include uranium miners, refiners and equipment makers.  Uranium is important because it is a primary component in the production of nuclear energy and is used in nearly 4 percent of the globe's traditional non-renewable energy.  On the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Down During The Asian Session Posted: 04 Nov 2010 08:00 PM PDT Forex Pros – The New Zealand Dollar was lower against the U.S. Dollar on Friday. NZD/USD was trading at 0.7937, down 0.08% at time of writing. The pair was likely to find support at 0.7634, Monday's low, and resistance at 0.7976, Thursday's high. Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.05% to hit 1.2782 and EUR/NZD rising 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Starbucks Brews Up A Strong 4Q Net Income Posted: 04 Nov 2010 08:00 PM PDT 11/04/10 Cafe chain Starbucks announced Thursday that its 4Q net income nearly doubled as revenue continued to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/JPY Up During The Asian Session Posted: 04 Nov 2010 07:00 PM PDT Forex Pros – The British Pound was higher against the Japanese Yen on Friday. GBP/JPY was trading at 131.63, up 0.21% at time of writing. The pair was likely to find support at 128.90, Monday's low, and resistance at 131.74, today's high. Meanwhile, the British Pound was up against the U.S. Dollar and down against the Euro, with GBP/USD gaining 0.01% to hit 1.6269 and EUR/GBP rising 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Oil And Gold Surge To New Highs As The Dollar Tumbles, Risk Appetite Swells Posted: 04 Nov 2010 05:16 PM PDT North American Commodity Update Commodities – Energy Questions over the Economic Leverage through Stimulus Overshadowed by Risk Appetite for Oil Traders Crude Oil (LS Nymex) – $86.49 // $1.80 // 2.13% The full influence of the Federal Reserve's decision to hike its stimulus efforts Wednesday was not fully expressed by the capital markets until Asian and European traders had a chance to react to the news. With the entire market able to react to the added leverage available to traders, risk … [visit site to read more] or compare Best Credit Cards and Best CD Rates

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