Tuesday, December 28, 2010

DailyMarkets.com - 14 Of The Most Ridiculous Things That Americans Are Being Arrested For

DailyMarkets.com - 14 Of The Most Ridiculous Things That Americans Are Being Arrested For


14 Of The Most Ridiculous Things That Americans Are Being Arrested For

Posted: 28 Dec 2010 03:35 AM PST

Doesn’t it seem like almost everything is becoming a crime in America now?  Americans are being arrested and charged with crimes for doing things like leaving dog poop on the ground, opening up Christmas presents early, not recycling properly, farting in class and having brown lawns.  But is it healthy for our society for the police to be involved in such silly things?  Every single day the United States inches closer to becoming a totalitarian society.  While there are some that … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – U.S. Dollar Plunges To Record Low Vs. Swiss Franc

Posted: 28 Dec 2010 03:03 AM PST

Forex Pros – The U.S. dollar plunged to a record low against the safe-haven Swiss franc on Tuesday in thin year-end trade, despite speculation of an intervention by the Swiss National Bank.

USD/CHF hit 0.9433 during European morning trade, an all-time low; the pair subsequently consolidated at 0.9458, plunging 1.48%.

The pair was likely to find support at 0.9400 and resistance at 0.9646, Monday's high.

Markets shrugged off a report that the Swiss government met with the heads of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.S. Stock Market Showing Negative Divergences

Posted: 28 Dec 2010 02:56 AM PST

The S&P and Nasdaq continue to make new highs but as can be seen in the charts below, the MACD , having peaked in November, refuses to make new highs with the broader indices.

This negative divergence has been developing since November and signals a correction around the corner. If you are long, do remember to take some profits here. As short term traders, we shouldn’t worry about the tax implications of taking profits at the year end. Its been a great year and we must strive to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Tumbles To 7-week Low Amid Threats Of Intervention

Posted: 28 Dec 2010 02:28 AM PST

Forex Pros – The U.S. dollar was down for the second consecutive day against the yen on Tuesday, tumbling to a 7-week low amid threats of Japanese intervention, as U.S. Treasury yields retreated and after a flurry of Japanese economic data.

USD/JPY hit 82.21 during European morning trade, the pair's lowest since November 12; the pair subsequently consolidated at 82.24, tumbling 0.68%.

The pair was likely to find support at 81.65, the low of November 12, and resistance at 83.15, the high … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – U.S. Dollar Broadly Lower Against Major Rivals In Thin Trade

Posted: 28 Dec 2010 01:56 AM PST

Forex Pros – The U.S. dollar was down against its major counterparts on Tuesday, as trade remained thin in the run up to the year's end and as markets awaited the release of a flurry of key U.S. economic data.

With markets in the U.K., Australia, New Zealand and Canada closed for an extended Christmas break and many investors already away on year-end leave, trading volumes were low, resulting in volatile trade.

Meanwhile, during European morning trade, the greenback was down against the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – NZD/USD Hits 2-week High Amid Low Trade Volume

Posted: 28 Dec 2010 01:25 AM PST

Forex Pros – New Zealand's dollar was up against its U.S. counterpart for the fourth consecutive day on Tuesday, climbing to hit a fresh 2-week high, amid speculation that demand for raw materials would not be affected by monetary tightening measures in China.

NZD/USD hit 0.7544 during early European trade, the pair's highest since December 14; the pair subsequently consolidated at 0.7528, climbing 0.35%.

The pair was likely to find support at 0.7454, Monday's low, and short-term … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Yes, Stocks Are Overdue For A Correction

Posted: 28 Dec 2010 01:10 AM PST

The first trading day of the week was a somewhat dreary affair, not unlike the weather in the Northern hemisphere. Following the Christmas day rate hike in China, most major U.S. stock market indices managed to reverse earlier losses and close in the black, albeit only marginally. However, the Dow Jones Industrial Average bucked the trend and remained in the red in a thinly-traded market.
I yesterday posted an article entitled "Chinese stocks – finely balanced", showing a chart of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


State Of The World 2011, According To Stiglitz & Roubini

Posted: 28 Dec 2010 01:00 AM PST

Episode 1 (part 1):
Nobel laureate Joseph Stiglitz and former Reserve Bank of India (NASDAQ:RBI) governor YV Reddy on the impact of QE2 on the US economy, dollar devaluation and currency wars, India's inflation problem and a whole host of other issues.

Episode 1 (part 2):
Stiglitz and Reddy on survival of the Euro and sovereign debt recast, India's growth in 2011 and more.

Episode 2 (part 1):
Nouriel Roubini and Raghuram Rajan on the benefits and risks of quantitative easing, the rush … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Rallies To 7-week High In Thin Year-end Trade

Posted: 28 Dec 2010 12:59 AM PST

Forex Pros – The Australian dollar was up for the seventh consecutive day against its U.S. counterpart on Tuesday, rallying to a 7-week high, amid speculation that monetary tightening in China would not affect demand for raw materials, boosting the appeal of commodity-linked currencies.

AUD/USD hit 1.0091 during European morning trade, the pair's highest since November 9; the pair subsequently consolidated at 1.0084, jumping 0.37%.

The pair was likely to find support at 0.9987, Monday's … [visit site to read more] or compare Best Credit Cards and Best CD Rates


The “real” Mega-bears

Posted: 28 Dec 2010 12:58 AM PST

Doug Short maintains a particularly interesting suite of stock market charts on his site dshort.com. By means of example, he has just updated his chart entitled "Real mega-bears", an inflation-adjusted overlay of three secular bear markets. It aligns the current S&P 500 from the top of the tech bubble in March 2000, the Dow from 1929 peak, and the Nikkei 225 from its 1989 bubble high.
"This chart is consistent with my preference for real (inflation-adjusted) analysis of long-term … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: USD/JPY Testing Daily Support

Posted: 28 Dec 2010 12:57 AM PST

The USD/JPY pair tested daily support again with it's session low of 82.36. Shown below, you can see that this is the third time this level has been tested since November 10th; it also comes in just below the 38.2% retracement line on the move from September 16th highs to November 1st lows. A close below this level may be a bearish signal for the pair in which case we may look to 81.58 as the next daily downside target. If support holds, 83.08 is the next significant level to the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


2011 Will Be Year Of Global Rate Hikes, Says Boockvar

Posted: 28 Dec 2010 12:56 AM PST

China's rate hike is the first of many global rate hikes to come, according to Peter Boockvar, an equity strategist at Miller Tabak. [PduP: Russia actually increased rates a day before China, also citing inflationary pressures as the reason. Brazil may soon ... [visit site to read more] or compare Best Credit Cards and Best CD Rates


Investment Lessons For Young And Old

Posted: 28 Dec 2010 12:52 AM PST

Through the "noise" of the year-end soothsaying contests,  Ramond James's Chief Investment Strategist Jeffrey Saut reminds us of some simple investment lessons. He specifically refers to those published by Arthur Ziekel in The Financial Analysts Journal in 1995. Ziekel at the time was head of Merrill Lynch Asset Management and penned the lessons as a letter to his daughter, as reported below.
"Personal portfolio management is not a competitive sport. It is, instead, an important … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Rosenberg: Housing Double-dip Ahead

Posted: 28 Dec 2010 12:47 AM PST

David Rosenberg, chief economist at Gluskin Sheff & Associates, tells CNBC another decline in housing prices is being underestimated.
The Case-Shiller Indices are announced before the opening bell this morning and should be of considerable interest. Meanwhile, house prices in England and Wales fell for a sixth consecutive month in December, according to … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Gartman: Will China Rate Increase Stop The Bull?

Posted: 28 Dec 2010 12:39 AM PST

Dennis Gartman, founder of "The Gartman Letter", tells CNBC that China's rate increase won't put the breaks on the bull market. Steve Cortes of Veracraz has an opposing … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Laugh Out Loud: Catch A Job

Posted: 28 Dec 2010 12:35 AM PST

Forex – GBP/USD Hits 4-day High In Volatile, Thin Trade

Posted: 28 Dec 2010 12:07 AM PST

Forex Pros – The pound was up against the U.S. dollar on Tuesday, rising to a 4-day high amid thin trade volume, as U.S. Treasury yields retreated after the U.S. government's USD 35 billion auction of two-year securities.  

GBP/USD hit 1.5488 during late Asian trade, the pair's highest since December 22; the pair subsequently consolidated at 1.5444, climbing 0.16%.

The pair was likely to find support at 1.5369, Monday's low, and resistance at 1.5567, the high of December … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Hits 6-day High On Short Covering Support

Posted: 27 Dec 2010 11:38 PM PST

Forex Pros – The euro was up against the U.S. dollar on short covering on Tuesday, rising to a 6-day high in thin year-end trading, as U.S. Treasury yields retreated after the U.S. government's USD 35 billion auction of two-year securities.  

EUR/USD hit 1.3254 during late Asian trade, the pair's highest since December 17; the pair subsequently consolidated at 1.3222, jumping 0.41%.

The pair was likely to find support at 1.3071, Monday's low, and resistance at 1.3358, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Growth & Income Stock: Shaw Communications Inc.

Posted: 27 Dec 2010 11:05 PM PST

Investors looking for a stable dividend stock may want to check out Shaw Communications Inc. (NYSE:SJR). The Canadian telecom produces steady free cash flow and yields a hefty 4.2%.
The company expects 2011 to be another year of solid growth and analysts have been revising their estimates higher. The stock also trades at a discount to its peers.
Fourth Quarter Results
Shaw reported its results for the fourth quarter of 2010 in late October. Total revenue was up 7.6% year-over-year. Service revenue … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bear Of The Day: AK Steel Holding Corp.

Posted: 27 Dec 2010 11:05 PM PST

We are downgrading AK Steel Holding Corp. (NYSE:AKS) to Underperform from our previous Neutral recommendation and lowering our target price to $12.00 from $15.00.
AK Steel recorded a third quarter net loss that was significantly wider than the Zacks Consensus Estimate. Higher input costs, particularly iron ore, is eroding margins of the company. Iron ore pricing concerns have led to a negative outlook for steel manufacturers. Revenues and average selling prices are lower, as the U.S. and global … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Momentum Stock: Precision Drilling Corp.

Posted: 27 Dec 2010 11:05 PM PST

Precision Drilling Corp. (NYSE:PDS) recently hit a new multi-year high at $9.85 after reporting an impressive Q3 earnings surprise of 122% in late October. Estimates have since jumped higher, with the next-year estimate now projecting 71% earnings growth, providing plenty of momentum for this Zacks #1 rank stock.
Company Description
Precision Drilling Corp., through its subsidiaries, provides onshore drilling and well services to the oil and gas industry in Canada and the United States. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bull Of The Day: Citigroup Inc.

Posted: 27 Dec 2010 11:05 PM PST

We are upgrading our recommendation on Citigroup, Inc. (NYSE:C) to Outperform following the final stake sale by the Treasury as it removes the government overhang on the stock. The company s third quarter earnings were 3 cents ahead of the Zacks Consensus Estimate, reflecting an improvement in credit quality and lower loan loss provisions, partially offset by a drop in revenues.
The company s restructuring initiatives are progressing well. However, we believe that the shrinking of its business as … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Aggressive Growth Stock: Deer Consumer Products

Posted: 27 Dec 2010 11:05 PM PST

Deer Consumer Products, Inc. (DEER) management is looking for excellent growth rates and analysts agree.
Shares dipped on the most recent earnings news, but giving the rising forecasts, this could be a great buying opportunity for this Zacks #1 Rank (Strong Buy).
Company Description
Deer Consumer Products makes small kitchen and home electronic appliances. The company’s items, like blenders and juicers, are sold around the world under brand names and customers including Black & Decker, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Up During The Asian Session

Posted: 27 Dec 2010 10:10 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Tuesday.

EUR/USD was trading at 1.3234, up 0.52% at time of writing.

The pair was likely to find support at 1.3056, Thursday's low, and resistance at 1.3255, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.16% to hit 0.8552 and EUR/JPY rising 0.10% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Up During The Asian Session

Posted: 27 Dec 2010 09:25 PM PST

Forex Pros – The British Pound was higher against the U.S. Dollar on Tuesday.

GBP/USD was trading at 1.5481, up 0.39% at time of writing.

The pair was likely to find support at 1.5370, Monday's low, and resistance at 1.5489, today's high.

Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.17% to hit 0.8552 and GBP/JPY rising 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Crude Oil Falls For First Time In Six Sessions, Gold Tries To Find Direction

Posted: 27 Dec 2010 08:51 PM PST

Commodities – Energy
Crude Oil Falls for First Time in Six Sessions
Crude Oil (WTI) – $91.09 // $0.09 // 0.10%
Commentary: Crude oil fell $0.51, or 0.56%, to settle at $91 after China raised interest rates for the second time since 2007 this past weekend. U.S. equity markets also sold off initially, but then proceeded to recover all of their losses to close at a new 2-year high. At the moment, risk assets can be best described as 'drifting higher' as prices respond to an extremely … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/CHF Down During The Asian Session

Posted: 27 Dec 2010 08:50 PM PST

Forex Pros – The U.S. Dollar was lower against the Swiss Franc on Tuesday.

USD/CHF was trading at 0.9556, down 0.47% at time of writing.

The pair was likely to find support at 0.9498, Thursday's low, and resistance at 0.9665, Thursday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.56% to hit 1.3240 and USD/JPY falling 0.36% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Singapore Stock Market Update For Tuesday 28 December

Posted: 27 Dec 2010 08:34 PM PST

Morning Highlights

There Are No Quick Picks For Today!
Singapore market started slightly higher with STI up 7.63 points to 3166.99. Nonetheless, market is expected to be quiet ahead of the New Year holiday.
News Updates:

Japanese Finance Minister Yoshihiko Noda warned on Tuesday against creeping rises in the yen, saying he is ready to act decisively against any rapid moves as a stronger yen threatens to damage a fragile export-led economy…

Japanese factory output rose for the first … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/GBP Up During The Asian Session

Posted: 27 Dec 2010 08:20 PM PST

Forex Pros – The Euro was higher against the British Pound on Tuesday.

EUR/GBP was trading at 0.8556, up 0.20% at time of writing.

The pair was likely to find support at 0.8467, Thursday's low, and resistance at 0.8564, today's high.

Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.59% to hit 1.3244 and EUR/JPY rising 0.24% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Julian Simon Via John Tierney Wins Another Bet

Posted: 27 Dec 2010 08:18 PM PST

In the summer of 2005, when oil was trading at $60 per barrel (see chart above), there was a bet between Malthusian Matthew R. Simmons (member of the Council on Foreign Relations, head of a Houston investment bank specializing  in the energy industry, and author of "Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy"), and New York Times science writer John Tierney, proponent of the Julian Simon school of economics.  

“Peak oil” advocate Simmons … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Down During The Asian Session

Posted: 27 Dec 2010 07:40 PM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Tuesday.

USD/JPY was trading at 82.50, down 0.38% at time of writing.

The pair was likely to find support at 82.49, today's low, and resistance at 83.58, Thursday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.66% to hit 1.3253 and GBP/USD rising 0.36% 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: 27 Dec 2010 07:10 PM PST

Forex Pros – The U.S. Dollar was lower against the Canadian Dollar on Tuesday.

USD/CAD was trading at 1.0062, down 0.06% at time of writing.

The pair was likely to find support at 1.0050, today's low, and resistance at 1.0165, Thursday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.58% to hit 1.3243 and GBP/USD rising 0.33% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Where Do Canadians Go When They Need Experimental Life-Saving Surgery?

Posted: 27 Dec 2010 06:40 PM PST

Now that’s a pretty easy question, and you’ll find the answer here.  

HT: Pete … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Up During The Asian Session

Posted: 27 Dec 2010 06:30 PM PST

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Tuesday.

AUD/USD was trading at 1.0060, up 0.14% at time of writing.

The pair was likely to find support at 0.9987, Thursday's low, and resistance at 1.0082, today's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.32% to hit 1.3147 and AUD/JPY falling 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Up During The Asian Session

Posted: 27 Dec 2010 06:05 PM PST

Forex Pros – The Euro was higher against the U.S. Dollar on Tuesday.

EUR/USD was trading at 1.3229, up 0.48% at time of writing.

The pair was likely to find support at 1.3056, Thursday's low, and resistance at 1.3250, today's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.17% to hit 0.8552 and EUR/JPY rising 0.33% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Good News?

Posted: 27 Dec 2010 05:57 PM PST

OK, score one for the bulls. Holiday sales were somewhat stronger than expected (though it will be interesting to see how much money retailers actually made on those sales given that a great many were discounting merchandise much earlier than normal and some were even holding post-Christmas sales before the big day arrived).
I guess I underestimated the impact of “The Stealth Stimulus of Defaulters Living for Free,” as the Wall Street Journal put it in early November. In addition, I gave … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/JPY Up During The Asian Session

Posted: 27 Dec 2010 05:35 PM PST

Forex Pros – The Euro was higher against the Japanese Yen on Tuesday.

EUR/JPY was trading at 109.41, up 0.36% at time of writing.

The pair was likely to find support at 108.42, Monday's low, and resistance at 109.62, Thursday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the British Pound, with EUR/USD gaining 0.51% to hit 1.3233 and EUR/GBP rising 0.17% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: EURUSD Holding Above The 1.3224 Level

Posted: 27 Dec 2010 05:25 PM PST

The 38.2% retracement of the move from the Dec 14 high to the low on Dec 22 came in at 1.3224. The price correction off the high has so far held that level and keeps the bulls in charge and possibly the shorts concerned.  The next target above is at 1.3260. The 50% of the same move down comes in at 1.3276.  That would be a more signficant level for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/JPY Up During The Asian Session

Posted: 27 Dec 2010 04:45 PM PST

Forex Pros – The British Pound was higher against the Japanese Yen on Tuesday.

GBP/JPY was trading at 127.98, up 0.23% at time of writing.

The pair was likely to find support at 127.40, Monday's low, and resistance at 128.77, Thursday's high.

Meanwhile, the British Pound was up against the U.S. Dollar and down against the Euro, with GBP/USD gaining 0.38% to hit 1.5479 and EUR/GBP rising 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


No comments:

Post a Comment