Tuesday, December 7, 2010

DailyMarkets.com - The Big News Everyone Missed

DailyMarkets.com - The Big News Everyone Missed

The Big News Everyone Missed

Posted: 07 Dec 2010 11:35 AM PST

It's hardly a surprise anymore that the financial media, and by association most investors, miss out on the most important news.

Over the last week your editor has been on the road again (using "road" loosely).

A little over a week ago we traded in our comfy confines in central Arizona for an 8,000 mile trek halfway across the world.

The 36-hour journey plunged us into the Philippine jungle exploring a unique low-risk/high reward gold investment strategy for Prudent Investors. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Government Loosens Grip On Citi

Posted: 07 Dec 2010 11:35 AM PST

The fifth and final sale of the remaining 2.4 billion shares of Citigroup Inc. (NYSE:C) announced by the U.S. Treasury yesterday will exhaust government's stake in the company. The Citi shares were acquired by the government a couple of years back as a part of the company's participation in the Troubled Asset Relief Program (TARP).
The Treasury expects to receive net proceeds of $10.68 on the basis of the proposed offering price of $4.45 per share for a total of 2.4 billion shares. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Down During The U.S. Session

Posted: 07 Dec 2010 11:15 AM PST

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

EUR/USD was trading at 1.3305, down 0.02% at time of writing.

The pair was likely to find support at 1.3061, Thursday's low, and resistance at 1.3438, Friday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.39% to hit 0.8435 and EUR/JPY rising 0.97% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

CTIC Challenges FDA Decision

Posted: 07 Dec 2010 11:05 AM PST

Recently, Cell Therapeutics Inc. (CTIC) announced that it has filed a formal appeal to the US Food and Drug Administration's (FDA) Office of New Drugs against the complete response letter issued by the FDA regarding the company's lead pipeline candidate, pixantrone. The candidate is being developed for the treatment of relapsed or refractory, aggressive, non-Hodgkin’s lymphoma (NHL) in patients who have not responded to other treatment options.
In April 2010, the FDA denied approval to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AIG’s Nan Shan Attracts Bidders

Posted: 07 Dec 2010 11:05 AM PST

After several impediments in the way of disposing American International Group Inc.'s (NYSE:AIG) Nan Shan unit in Taiwan, the company is finally seeing some light at the end of the tunnel, with handful of Taiwan bidders showing refreshed interest to buy the unit. While the bidders, including Cathay Financial Holding Co., Chinatrust Financial Holding Co. and Ruentex Group, have already submitted there bids on Friday, Fubon Financial Holding Co. has also been expectedly invited by AIG to bid for … [visit site to read more] or compare Best Credit Cards and Best CD Rates

J. C. Penney Sales Rise

Posted: 07 Dec 2010 11:05 AM PST

J. C. Penney Company Inc. (NYSE:JCP), a leading retailer of apparel, footwear, accessories, fashion jewelry, beauty products and home furnishings, recently reported its sales results for the four-week period ended November 27, 2010.
The company's comparable-store sales for November 2010 climbed 9.2%, reflecting a sharp improvement from a decline of 1.9% and a fall of 5.9%, witnessed in October 2010 and November 2009, respectively. For the 9-month period, comparable-store sales rose 2.5% compared … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Good News For Bristol-Myers

Posted: 07 Dec 2010 11:05 AM PST

The US Food and Drug Administration (FDA) delivered a boost to pharma giant Bristol-Myers Squibb Company (NYSE:BMY) by accepting the supplemental Biologics License Application (sBLA) for the subcutaneous formulation of Orencia (abatacept) for treating adults suffering from moderate to severe rheumatoid arthritis (RA).
The confirmation of the receipt of the sBLA, filed with the FDA in the third quarter of 2010, was received on October 4, 2010. The application was filed on the basis of data from … [visit site to read more] or compare Best Credit Cards and Best CD Rates

“Market Move To Upside Coming From Citibank”

Posted: 07 Dec 2010 10:44 AM PST

12/07/10 Sunrise Securities’ Ben Willis weighs in on today’s gains in the equity market, and weighs in on near-term … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PSEG Lowers Gas Rates Again

Posted: 07 Dec 2010 10:35 AM PST

Public Service Electric and Gas Company (PSE&G), a unit of Public Service Enterprise Group Incorporated (NYSE:PEG) or PSEG, again lowered the residential gas bills by 5.0% to pass on lower input costs to its customers. Prior to the current rate curtailment, PSE&G has lowered the gas bills by 26% since January 2009, when the prices of wholesale natural gas started to drop.
The current reduction of natural gas rates for residential consumers followed the 5% cut in rates in July and another … [visit site to read more] or compare Best Credit Cards and Best CD Rates

A New Chapter In Google Books

Posted: 07 Dec 2010 10:35 AM PST

Google Inc's (NASDAQ:GOOG) online bookstore is likely to hasten the digitization of paperbacks and hard covers, dramatically increasing the availability of online books.
In addition to the 200,000 odd titles from leading publishers, such as Random House, Penguin Group, Simon & Schuster and Pearson, the company is also offering 2.8 million out-of-print books where copyrights may or may not have expired. Google is entangled in legal warfare there, although it has not asked for sole … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Down During The U.S. Session

Posted: 07 Dec 2010 10:35 AM PST

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

AUD/USD was trading at 0.9883, down 0.17% at time of writing.

The pair was likely to find support at 0.9626, Thursday's low, and resistance at 0.9965, today's high.

Meanwhile, the Australian Dollar was down against the Euro and up against the Japanese Yen, with EUR/AUD gaining 0.12% to hit 1.3460 and AUD/JPY rising 0.67% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: USDJPY Reaches 100 Hour MA/Fibo Target

Posted: 07 Dec 2010 10:30 AM PST

The USDJPY has reached the 100 hour MA/50% retracement target at the 83.35 area. Look for profit takers to enter the market with stops if the 83.35 level if breached.  The next target would be the 61.8% retracement and 200 hour MA at the 83.59 level.
SEE THE EARLIER POST BY CLICKING … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Rallies On US Tax Cut Extension

Posted: 07 Dec 2010 10:11 AM PST

12/07/10 The euro rallied this session against its lower-yielding counterparts following the extension of US tax … [visit site to read more] or compare Best Credit Cards and Best CD Rates

PX & Jin Jing Group Sign Contract

Posted: 07 Dec 2010 10:05 AM PST

Praxair (China) Investment Co. Ltd, the Chinese unit of Praxair Inc. (NYSE:PX) and a leading industrial gas supplier, signed a contract to supply industrial gases to Beijing Jin Jing Solar Materials Co. Ltd, a subsidiary of Jin Jing Group.
According to the terms of the agreement, Praxair China will build an air separation plant, two vacuum-pressure-swing-adsorption and one steam-methane-reforming plant to supply oxygen, nitrogen and hydrogen gases to Beijing Jin Jing's project. The project … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Abercrombie’s Robust Comparables

Posted: 07 Dec 2010 10:05 AM PST

Abercrombie & Fitch Co. (NYSE:ANF), a specialty retailer of casual apparel, reported solid sales for the four-week period ended November 27, 2010.  After a smart increase of 12% in September, the comparables moderated to a 2.0% growth in October before recording a whopping increase of 22.0% in November 2010.
In the month under review, total company direct-to-consumer net merchandise sales climbed 40% to $32.6 million and total company international net sales, including direct-to-consumer … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Down During The U.S. Session

Posted: 07 Dec 2010 10:00 AM PST

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

NZD/USD was trading at 0.7604, down 0.18% at time of writing.

The pair was likely to find support at 0.7456, Thursday's low, and resistance at 0.7675, Friday's high.

Meanwhile, the New Zealand Dollar was down against the Australian Dollar and the Euro, with AUD/NZD gaining 0.001% to hit 1.2995 and EUR/NZD rising 0.12% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

European Markets Close Higher; Dax Up 0.68%

Posted: 07 Dec 2010 09:55 AM PST

Forex Pros – European stocks were up after the closing bell on Tuesday.

At the close of European trade, Germany's DAX rose 0.68%, London's FTSE 100 gained 0.66%, France's CAC 40 climbed 1.63% and the EURO STOXX 50 was up 1.18%.

Meanwhile, on Wall Street, equity markets were up after the open. The Dow Jones Industrial Average was up 0.42%; the S&P 500 index gained 0.49%, while the Nasdaq 100 index climbed … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Will The USD Recover From The Blow Dealt By The Non-Farm Payroll Last Friday?

Posted: 07 Dec 2010 09:53 AM PST

EUR/USD Heading to 1.3450
Resistance 1:  1.3450; Resistance; Target if 1.3450 is broken: 1.36
Support pivot 1: 1.3350; Support pivot 2: 1.330; Support pivot 3: 1.3245

EUR/USD 12/7/2010 1H Chart EUR/USD returning to levels after the NFP, heading towards 1.3450. The pair broke above yesterday's small range between roughly 1.3245 and 1.3300. It is now channeling up. The RSI is breaking above 60, and as we mentioned in yesterday's update,  a break above 1.3300, suggests a test … [visit site to read more] or compare Best Credit Cards and Best CD Rates

VML & Ghg Float New Company

Posted: 07 Dec 2010 09:35 AM PST

Two companies of  WPP Group Plc (NASDAQ:WPPGY), ghg and VML announced the formation of Healix Digital Health, a new company focused on digital healthcare. VML is a global digital marketing unit of WPP Group, while ghg is engaged in global healthcare communications.
The newly formed company, which is to be led by officials from both ghg and VML, will be headquartered in New York City. The combined effect of healthcare marketing and communications expertise of ghg and digital marketing experience … [visit site to read more] or compare Best Credit Cards and Best CD Rates

The Tax Deal And The Deficit

Posted: 07 Dec 2010 09:35 AM PST

The Federal Budget Deficit has been a hot topic lately. Two separate commissions have come out with recommendations about how to cut it over the long term. Both rely on a combination of expenditure cuts and increases in taxes. The tax increases are mostly accomplished through the back door of eliminating tax deductions. Both actually cut the tax rates.

In looking at how to cut the deficit, it is useful to remember where it came from. The idea that it is all due to "runaway government … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Levels And Outlooks 12.7.2010: USD/CAD, AUD/USD, Gold

Posted: 07 Dec 2010 09:25 AM PST

USD/CAD Testing 1.0090
Resistance 1:  1.0090 (Testing); Resistance 2: 1.0120; Resistance 3: 1.0160/75 (61.8% retracement)
Support 1: 1.00 to 0.9980; Target if 0.9980 is broken: 0.9750 (2008 lows).

USD/CAD 12/7/2010 1H Chart

The USD/CAD remains  between parity (1.00) and 1.0080/90. The RSI is testing 60 again, and price testing the resistance area again. A break above can see the market go to the 1.0150 (50% retracement) pivot. IF the market breaks above 1.0180, we should … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Arrow Acquires Diasa In Spain

Posted: 07 Dec 2010 09:20 AM PST

Electronics parts distributor Arrow Electronics Inc. (NYSE:ARW) acquired Diasa Informática, a value-added distributor of servers, storage, software and networking products in Spain and Portugal.
Diasa also offers technical consultancy and training, presales support, installation services and financial services to its approximately 3,000 resellers.
Headquartered in Madrid, Spain, Diasa employs approximately 140 people and generated sales of approximately $250 million in the most recent fiscal … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Ivory Coast Elections Spark Cocoa

Posted: 07 Dec 2010 09:18 AM PST

Today’s Idea
Cocoa supply and demand fundamentals do not support the recent move higher, but the tumultuous political situation in the Ivory Coast remains a wildcard. Technically, the March Cocoa chart shows a breakout, but this could have been driven by short liquidation. For these reasons, some traders expecting a pullback may wish to consider placing a bear put spread, buying the Feb 3000 puts and selling the Feb 2800 puts for a debit of 55, or $550. The trade risks the initial premium for a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Stays Below Resistance

Posted: 07 Dec 2010 09:09 AM PST

The EURUSD has moved lower on the back of worries about Ireland budget implications. Gold also lost its lustre on a failure to extend above the $1424 old high from November 9th. 
The pair is below the 100 day MA at 1.3337 level. This is the most important level to stay below today. Look for sellers against the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Telefonica Downgraded To Neutral

Posted: 07 Dec 2010 09:05 AM PST

We are downgrading our long-term recommendation on Telefonica (NYSE:TEF), the largest telecom carrier in Spain and Latin America, to Neutral from Outperform. Currently, the stock has Zacks #2 (Buy) Rank for the short term (1–3 months).
We believe the successful acquisition of the full stake in Telefonica's Brazilian wireless joint venture, Vivo Participacoes (NYSE:VIV), has already been largely priced in. Thus, there is now limited upside to the stock in the near term. However, we believe … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Sprint To Phase Out IDen Network

Posted: 07 Dec 2010 09:05 AM PST

Sprint Nextel (NYSE:S), the third-largest U.S. wireless carrier, plans to consolidate its network and gradually terminate its iDen network from 2013. The decision follows Sprint's struggle to integrate its CDMA mobile network with Nextel's iDEN wireless network (acquired in 2005), which resulted in contant subscribers losses.
More than 20% of Sprint subscribers use the iDen network, including the prepaid Boost Mobile service customers. Sprint will replace the iDen network on CDMA-based phones … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up At The End Of European Session

Posted: 07 Dec 2010 09:00 AM PST

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

EUR/USD was trading at 1.3322, up 0.11% at time of writing.

The pair was likely to find support at 1.3061, Thursday's low, and resistance at 1.3438, Friday's high.

Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.43% to hit 0.8432 and EUR/JPY rising 0.58% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Offshoring Tsunami And QE3: A Perfect Storm For Stagflation

Posted: 07 Dec 2010 08:50 AM PST

While most of the recent economic data seem to demonstrate a steady, albeit slow recovery in the United States, the November employment figures from the Labor Dept. threw a curve ball into the mix as the unemployment rate unexpectedly jumped to 9.8% from 9.6% held since August.

That brought the jobless rate to its 19th straight month of 9% or more, which is the longest stretch since World War II, while the unemployment rate of people with a college degree (25 and older) also hit a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Rising Yields Are Both Good And Bad For Equities

Posted: 07 Dec 2010 08:50 AM PST

Rising long term Treasury yields can be viewed as a sign that the economic recovery is taking hold.  That is one interpretation.  Another is that rising yields will serve to pressure equities and choke off any rally that may develop.  I believe the latter scenario will eventually predominate as there is a limit to how high equity prices can rise in these liquidity fueled rallies.

Figure 1 is a weekly chart of the Ultra Short Lehman 20 + Treasury Bond Fund (symbol: TBT).  … [visit site to read more] or compare Best Credit Cards and Best CD Rates

New COO For Arby’s

Posted: 07 Dec 2010 08:35 AM PST

Arby's Restaurant Group Inc., a division of Wendy’s/Arby’s Group Inc. (NYSE:WEN), announced the appointment of Diana Petrovich-Tao, as Chief Operating Officer (COO).  Diana Petrovich succeeds Michael Lippert, who left the Atlanta-based company in June, 2010.
Petrovich-Tao, 51, was serving at Burger King Corp. since 2003. At Burger King, she was responsible for training initiatives in the U.S. and 70 countries. Prior to her tenure at Burger King, Petrovich-Tao held senior leadership … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Neutral On Denbury Resources

Posted: 07 Dec 2010 08:35 AM PST

Our Neutral recommendation for Denbury Resources Inc. (NYSE:DNR) remains unchanged following third quarter results. Production increased a whopping 82% on the back of solid contribution from the acquired Encore properties. 
Plano, Texas-based Denbury Resources is a growing exploration and production (E&P) company engaged in the acquisition, development, operation, and exploration of oil and natural gas properties in the U.S. Gulf Coast region. It is the largest oil and gas producer in … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Time Warner Cable Targeting SMB

Posted: 07 Dec 2010 08:22 AM PST

Time Warner Cable Inc. (NYSE:TWC), the second largest cable MSO (Multiple System Operator) in the U.S. is targeting small & mid sized business (SMB) market opportunities for future growth. The company has predicted that its revenue from SMB will increase 20% year over year in 2010. Year-to-date, Time Warner Cable generated $809 million of sales from the SMB segment in 2010. We believe the company's full year 2010 SMB revenue may reach $1.1 billion.
Cable MSOs are quickly losing market share … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Positive Data On Roche’s Drug

Posted: 07 Dec 2010 08:21 AM PST

Roche Holdings Ltd. (RHHBY) recently announced positive results from a mid-stage trial of its schizophrenia candidate, RG1678. The trial demonstrated that the candidate led to a reduction in the negative symptoms of schizophrenia, along with bringing about changes in patients' personal and social functioning.
In the phase II trial, patients with predominantly negative symptoms of schizophrenia were given either RG1678 in combination with second-generation antipsychotics or placebo. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Geron’s Pipeline Progresses

Posted: 07 Dec 2010 08:21 AM PST

Geron Corporation (NASDAQ:GERN) recently announced that it has moved its telomerase inhibitor drug, imetelstat (GRN163L), into a new phase II study. The company is conducting an open label, multi-center, randomized phase II study in patients with locally recurrent or metastatic breast cancer.
The study will compare the efficacy and safety of imetelstat plus paclitaxel – with or without Roche's [RHHBY] Avastin [bevacizumab] – with that of paclitaxel (with or without bevacizumab).
While … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Watson’s Prochieve Achieves Target

Posted: 07 Dec 2010 08:21 AM PST

Watson Pharmaceuticals Inc. (NYSE:WPI) and partner Columbia Laboratories Inc. (NASDAQ:CBRX) recently announced positive data on Prochieve which was being studied for the reduction of the risk of preterm birth in women with a short cervical length.
Top-line results from the phase III study (PREGNANT) showed that treatment with Prochieve led to a statistically significant reduction in the rate of preterm birth compared to placebo. Watson Pharma and Columbia Labs now intend to apply for US Food and Drug … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canadian Dollar: Rebound In Sight

Posted: 07 Dec 2010 08:19 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Australian Dollar: Bullish Bias Above 9825

Posted: 07 Dec 2010 08:19 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Canadian Dollar: Rebound In Sight

Posted: 07 Dec 2010 08:19 AM PST

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – Dollar Mixed Vs. Rivals As Irish Budget Vote Eyed

Posted: 07 Dec 2010 07:55 AM PST

Forex Pros – The U.S. dollar was mixed against its major counterparts on Tuesday, as expectations mounted that Ireland's parliament would pass an austerity budget, unlocking the way to an international bailout package.

During European afternoon trade, the greenback was down against the euro, with EUR/USD climbing 0.27% to hit 1.3344.

Earlier in the day, Irish media outlets reported that that the Irish budget was likely to pass by a slim majority.

The greenback was also down against the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Close To 9-day High As Irish Budget Awaited

Posted: 07 Dec 2010 07:41 AM PST

Forex Pros – The pound was up against the U.S. dollar on Tuesday, hovering close to a 9-day high, amid hopes that Ireland’s emergency budget would pass through parliament, opening the way to an international bailout package.

GBP/USD hit 1.5822 during European afternoon trade; the pair's highest since November 24; the pair subsequently consolidated at 1.5787, gaining 0.45%.

Cable was likely to find support at 1.5655, Monday's low and resistance at 1.5964, the high of November 23.

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

Forex – EUR/USD Holds Gains Ahead Of Irish Budget Vote

Posted: 07 Dec 2010 07:30 AM PST

Forex Pros – The euro held gains against the U.S. dollar on Tuesday amid expectations that that Ireland’s 2011 austerity budget would pass later in the day, clearing the way for an international bailout package.

EUR/USD hit 1.3400 during European afternoon trade, the daily high; the pair subsequently consolidated at 1.3353, gaining 0.32%.

The pair was likely to find support at 1.3192, last Friday's low and resistance at 1.3632, the high of November 23.

Earlier Tuesday, Irish media … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Rallies Above $90

Posted: 07 Dec 2010 07:28 AM PST

12/07/10 Front month crude prices continued their rise this session, trading above $90 a barrel, this following President Obama sustaining tax reductions to help the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Rallies Above $90

Posted: 07 Dec 2010 07:28 AM PST

12/07/10 Front month crude prices continued their rise this session, trading above $90 a barrel, this following President Obama sustaining tax reductions to help the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: AET, C, AGL, GAS

Posted: 07 Dec 2010 02:22 AM PST

12/07/10 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Opening Bell Market Monitor: AET, C, AGL, GAS

Posted: 07 Dec 2010 02:22 AM PST

12/07/10 The latest in news, commentary, and information on what’s moving the US equities … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fooling Some Of The People All Of The Time

Posted: 07 Dec 2010 06:21 AM PST

Who is willing to stand up and call out the companies, the financial regulators, and others who both enabled and embodied the practices which brought about our financial crisis?
There have been and will continue to be many well written books highlighting some of the finer points from this economic period. Will there be any books written which truly take off the gloves and call out the individuals and institutions deeply involved in the 'Wall Street-Washington incest' central to our economic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Fooling Some Of The People All Of The Time

Posted: 07 Dec 2010 06:21 AM PST

Who is willing to stand up and call out the companies, the financial regulators, and others who both enabled and embodied the practices which brought about our financial crisis?
There have been and will continue to be many well written books highlighting some of the finer points from this economic period. Will there be any books written which truly take off the gloves and call out the individuals and institutions deeply involved in the 'Wall Street-Washington incest' central to our economic … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Valuation-Informed Indexing #19: Stock Mispricings Are Sticky

Posted: 07 Dec 2010 05:35 AM PST

by Rob Bennett
The conventional view is that it is economic developments that determine stock prices. When investors believe that the future is looking good, they bid stock prices up. When investors believe that the future is looking poor, they bid stock prices down.
I don't see it.
There's certainly a connection between economic developments and stock prices. But my take is that the causation goes the other way. When people believe that stock prices are going up, they bid them up. The … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morning News Notes: 12.6.10

Posted: 06 Dec 2010 07:28 AM PST

The morning news notes as prepared by TL…Obama’s deficit commission, Economist magazine on the Euro, Bernanke on “60 Minutes”, more on Friday’s ugly employment report, hiring in the retail industry is changing, regulators see growing putback risk, and the popularity of Presidents over the past 50 years.

“Morning News Notes: December 6, 2010″

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