Friday, December 10, 2010

DailyMarkets.com - Will Ron Paul Be Able To End The Fed?

DailyMarkets.com - Will Ron Paul Be Able To End The Fed?

Will Ron Paul Be Able To End The Fed?

Posted: 10 Dec 2010 03:35 AM PST

Is Ron Paul finally in position to really do something about the Federal Reserve?  U.S. Representative Spencer Bachus, the chairman-elect of the House Financial Services Committee, has announced that Ron Paul will chair the domestic monetary policy subcommittee starting next month.  This puts Ron Paul in tremendous position to be able to put significant pressure on the Federal Reserve.  In previous years Ron Paul has introduced legislation to end the Federal Reserve but it never … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stocks To Watch On Friday: Apple, AIG, Goldman Sachs, National Semiconductor, Rolls-Royce, Rio Tinto

Posted: 10 Dec 2010 03:29 AM PST

Rio Tinto (NYSE:RIO) – Co. has told Chinese steel mills it will raise contract iron ore prices by 7.6% in Q1 2011.

UK

Diageo – Co. is in talks to acquire Turkey's Mey Icki, according to sources, which say Turkish spirits co. would fetch USD 2.0-2.5bln. Also says Mey Icki is also exploring IPO, says deal is not imminent. (WSJ)

Rolls-Royce (RR.L) – Co. could face costs of USD 500mln over the next few years to deal with the consequences of an explosion last month in one of its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Up During The European Session

Posted: 10 Dec 2010 03:05 AM PST

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

AUD/USD was trading at 0.9889, up 0.54% at time of writing.

The pair was likely to find support at 0.9753, Wednesday's low, and resistance at 0.9965, Tuesday's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.42% to hit 1.3403 and AUD/JPY rising 0.33% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Down During The European Session

Posted: 10 Dec 2010 02:20 AM PST

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

USD/CHF was trading at 0.9808, down 0.28% at time of writing.

The pair was likely to find support at 0.9726, Monday's low, and resistance at 0.9916, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.12% to hit 1.3254 and USD/JPY falling 0.14% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down During The European Session

Posted: 10 Dec 2010 01:30 AM PST

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

USD/JPY was trading at 83.61, down 0.16% at time of writing.

The pair was likely to find support at 82.34, Tuesday's low, and resistance at 84.30, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and down against the British Pound, with EUR/USD shedding 0.08% to hit 1.3228 and GBP/USD rising 0.26% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Richard Russell: “Stocks Are Not Priced To Produce Profits Over Coming Years”

Posted: 10 Dec 2010 01:29 AM PST

In a recent article, Richard Russell, 86-year-old writer of the Dow Theory Letters, focused on dividend yield as a valuation yardstick. I thought it appropriate to share some of his views with you.
In order for readers to follow Mr Russell's discussion, I include a chart of the S&P 500's dividend yield going back to 1871. He refers to the Dow but  I unfortunately do not have a long-term chart of the Dow's dividend yield and therefore use the S&P 500's dividend yield to … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The European Session

Posted: 10 Dec 2010 12:55 AM PST

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

EUR/USD was trading at 1.3238, up 0.001% at time of writing.

The pair was likely to find support at 1.3166, Thursday's low, and resistance at 1.3420, Monday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.26% to hit 0.8372 and EUR/JPY falling 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/USD Up During The European Session

Posted: 10 Dec 2010 12:10 AM PST

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

GBP/USD was trading at 1.5804, up 0.22% at time of writing.

The pair was likely to find support at 1.5656, Monday's low, and resistance at 1.5841, Thursday's high.

Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.14% to hit 0.8382 and GBP/JPY rising 0.20% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Asian Markets Mixed At Close; Nikkei Down 0.72%

Posted: 09 Dec 2010 11:40 PM PST

Forex Pros – Asian stocks were mixed after the closing bell on Friday.

At the close of Asian trade, Japan's Nikkei 225 index fell 0.72%, Australia's S&P/ASX 200 index gained 0.10%, while Hong Kong's Hang Seng Index was trading 0.27% down.

Meanwhile, the outlook for U.S. equity markets was upbeat. Dow Jones Industrial Average futures indicated a gain of 0.14%, S&P 500 futures pointed to an increase of 0.26% and Nasdaq 100 futures indicated a rise of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Momentum Stock: Celanese Corp.

Posted: 09 Dec 2010 11:05 PM PST

Celanese Corp. (NYSE:CE) recently jumped to a new multi-year high at $39.99 after reporting strong Q3 results in late October that included a 19% earnings surprise. With four consecutive earnings surprises and a bullish growth projection, this Zacks #1 rank stock has been thoroughly coated in momentum.
Company Description
Celanese Corp. operates as a specialty chemical maker worldwide. The company was founded in 2004 and has a market cap of $6 billion.
Celanese has rebounded nicely out of the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bull Of The Day: TRW Automotive (TRW)

Posted: 09 Dec 2010 11:05 PM PST

TRW Automotive (NYSE:TRW) is a well-known supplier of auto safety products. Its innovative product portfolio is capable of generating top- and bottom-line growth.
In addition, the U.S. government’s policy to mandate the use of safety devices in all passenger vehicles will boost the company’s sales. Further, its strong exposure to international markets, especially in emerging countries, will fuel its earnings growth.
In the most recent quarter, TRW outpaced the Zacks Consensus Estimate by a … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Bear Of The Day: Accuray, Inc. (ARAY)

Posted: 09 Dec 2010 11:05 PM PST

We downgrade our recommendation on Accuray Inc. (NASDAQ:ARAY) to Underperform following its lackluster first-quarter fiscal 2011 results. Its reported loss per share for the quarter exceeded the Zacks Consensus Estimate.
Net loss swelled on account of lower revenues. Sales dipped year-over-year due to lower products and services revenues. Accuray is exposed to stiff competition in the radiation oncology market and remains susceptible to reimbursement uncertainties surrounding its products.
Our … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Aggressive Growth Stock: Haynes International

Posted: 09 Dec 2010 11:05 PM PST

Haynes International, Inc. (NASDAQ:HAYN) has been improving each quarter for the past year and the company expects that to continue into fiscal 2011.
This Zacks #1 Rank (Strong Buy) surged to multi-year highs on the last earnings news, but rising growth projections are keeping valuations in check.
Company Description
Haynes International makes specialized alloys for aerospace, turbine and chemical processing applications.
Excellent Quarter
On Nov 18 Haynes International reported fourth quarter and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Growth & Income Stock: Neenah Paper Inc.

Posted: 09 Dec 2010 11:05 PM PST

Think the paper industry is dead?
Think again.
Neenah Paper, Inc. (NYSE:NP) has soared over 35% year-to-date as the company continues to deliver solid top-line growth. It recently reported third quarter EPS that crushed the Zacks Consensus Estimate by 50%.
Neenah Paper has also been aggressively paying down its debt while saving enough room to boost its dividend for the first time. Estimates have been rising, too, sending the stock to a Zacks #2 Rank (Buy).
Earnings Per Share Beat by 50%
Neenah … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/USD Up During The Asian Session

Posted: 09 Dec 2010 10:11 PM PST

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

EUR/USD was trading at 1.3261, up 0.18% at time of writing.

The pair was likely to find support at 1.3166, Thursday's low, and resistance at 1.3420, Monday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.08% to hit 0.8401 and EUR/JPY rising 0.11% 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: 09 Dec 2010 10:05 PM PST

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

GBP/USD was trading at 1.5786, up 0.10% at time of writing.

The pair was likely to find support at 1.5656, Monday's low, and resistance at 1.5841, Thursday'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 0.8398 and GBP/JPY rising 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Singapore Stock Market Update For Friday 10 December

Posted: 09 Dec 2010 10:02 PM PST

Morning Highlights

There Are No Quick Picks For Today!
Singapore market traded lower, with STI down 23.31 points to 3186.89. Many investors took to the sidelines after robust China trade data heightened concerns of an imminent rate hike from Beijing. 

Shangri-la plans US$605 million rights shares to settle loans

Watch Out For Economic News Today

China Exports (Nov) [China's November trade data on Friday showed imports and exports both hitting records, with the trade surplus ... [visit site to read more] or compare Best Credit Cards and Best CD Rates

Swiss Franc To Revisit Its Historical High Vs. The US Dollar?

Posted: 09 Dec 2010 08:59 PM PST

The market has been kind of iffy during the past couple of months and the USDCHF pair has been behaving in the same way. Looking at its daily chart, you can see that the pair has winded into a rising wedge pattern after marking an all-time low at 0.9462 back in October 4.

Now as you of you might know, a rising wedge pattern is deemed bullish by technicians since it only depicts a temporary rally in prices. If this is the case, then the Swiss Franc could once again take over the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Down During The Asian Session

Posted: 09 Dec 2010 08:50 PM PST

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

USD/CHF was trading at 0.9824, down 0.11% at time of writing.

The pair was likely to find support at 0.9726, Monday's low, and resistance at 0.9916, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.12% to hit 1.3254 and USD/JPY falling 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market & ETF Roundup: GLD, SLV, SPY, QQQQ, EEM, FXI, TLT

Posted: 09 Dec 2010 08:43 PM PST

Major indexes ((SPY), (NASDAQ:QQQQ)) crept higher again today on the strength of a better than expected employment report and a Treasury auction for $13 Billion that was met with solid demand.  Bank of America (NYSE:BAC) was a standout, adding 5%, but the big news was in the S&P 500.

Today the S&P closed above significant resistance at the 1290-1230 level and so broke to new highs, the highest level the index has seen since September, 2008.  This is a particularly bullish … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AUD/USD Confirms Double Top; Targets 0.9660

Posted: 09 Dec 2010 08:41 PM PST

AUD/USD

AUD/USD 12/9/2010 4H and 1H Charts

1H and 4H: The RSI in the 1H chart shows a slightly bearish bias, but in the 4H it shows a slightly bullish bias.
We do see in both charts, a double top, that is being confirmed IF the market can break below the 0.9810 pivot seen in the 1H chart.
Really, what's going on here is that the decline for the double top has already materialized, and we are just testing that area again to see if the market still respects the double … [visit site to read more] or compare Best Credit Cards and Best CD Rates

3 Reasons Why Netflix Could Be Headed For $220

Posted: 09 Dec 2010 08:26 PM PST

Netflix, Inc. (NASDAQ:NFLX) has been a highly bullish stock the last two years and has simply exploded in 2010, reaching highs of over $200 a share. However, the recent pull-back in price suggests we could see a new all-time high printed soon. I've got three reasons why Neflix could be headed for $220.

1. EMA Support

The three pivot-based EMA's show the short, medium, and long term health of a stock. Clearly, price has been extremely bullish during recent months, with the 34-period … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Up During The Asian Session

Posted: 09 Dec 2010 08:20 PM PST

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

EUR/GBP was trading at 0.8398, up 0.04% at time of writing.

The pair was likely to find support at 0.8362, Thursday's low, and resistance at 0.8512, Monday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.09% to hit 1.3251 and EUR/JPY rising 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/JPY Down During The Asian Session

Posted: 09 Dec 2010 07:43 PM PST

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

USD/JPY was trading at 83.73, down 0.01% at time of writing.

The pair was likely to find support at 82.34, Tuesday's low, and resistance at 84.30, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.08% to hit 1.3249 and GBP/USD rising 0.06% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Up During The Asian Session

Posted: 09 Dec 2010 07:37 PM PST

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

AUD/USD was trading at 0.9852, up 0.16% at time of writing.

The pair was likely to find support at 0.9753, Wednesday's low, and resistance at 0.9965, Tuesday's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.09% to hit 1.3447 and AUD/JPY rising 0.12% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Up During The Asian Session

Posted: 09 Dec 2010 07:37 PM PST

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

AUD/USD was trading at 0.9852, up 0.16% at time of writing.

The pair was likely to find support at 0.9753, Wednesday's low, and resistance at 0.9965, Tuesday's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.09% to hit 1.3447 and AUD/JPY rising 0.12% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Up During The Asian Session

Posted: 09 Dec 2010 07:37 PM PST

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

AUD/USD was trading at 0.9852, up 0.16% at time of writing.

The pair was likely to find support at 0.9753, Wednesday's low, and resistance at 0.9965, Tuesday's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.09% to hit 1.3447 and AUD/JPY rising 0.12% 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: 09 Dec 2010 07:36 PM PST

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

USD/CAD was trading at 1.0098, down 0.07% at time of writing.

The pair was likely to find support at 1.0012, Tuesday's low, and resistance at 1.0141, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.08% to hit 1.3249 and GBP/USD rising 0.08% 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: 09 Dec 2010 07:36 PM PST

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

USD/CAD was trading at 1.0098, down 0.07% at time of writing.

The pair was likely to find support at 1.0012, Tuesday's low, and resistance at 1.0141, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.08% to hit 1.3249 and GBP/USD rising 0.08% 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: 09 Dec 2010 07:36 PM PST

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

USD/CAD was trading at 1.0098, down 0.08% at time of writing.

The pair was likely to find support at 1.0012, Tuesday's low, and resistance at 1.0141, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.08% to hit 1.3249 and GBP/USD rising 0.08% 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: 09 Dec 2010 07:36 PM PST

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

USD/CAD was trading at 1.0098, down 0.08% at time of writing.

The pair was likely to find support at 1.0012, Tuesday's low, and resistance at 1.0141, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.08% to hit 1.3249 and GBP/USD rising 0.08% 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: 09 Dec 2010 07:36 PM PST

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

USD/CAD was trading at 1.0098, down 0.08% at time of writing.

The pair was likely to find support at 1.0012, Tuesday's low, and resistance at 1.0141, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the British Pound, with EUR/USD gaining 0.08% to hit 1.3249 and GBP/USD rising 0.08% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Crude Oil Ekes Out A Gain, Gold Rebounds As Treasury Yields Fall Slightly

Posted: 09 Dec 2010 07:17 PM PST

Commodities – Energy
Crude Oil Ekes Out a Gain
Crude Oil (WTI) – $88.47 // $0.10 // 0.11%
Commentary: Crude oil fluctuated on Thursday, but ultimately finished the session only slightly higher, +0.14, or 0.16%, to settle at $88.51. The commodity continues to consolidate with little in the way of news flow to spur significant moves in either direction. The bottom line is that prices are digesting the recent run up that took prices from $80 two weeks ago to close to $90. We expect a break of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

NY Fed Model: 1-in-70 Chance Of 2011 Double-Dip

Posted: 09 Dec 2010 06:42 PM PST

The New York Federal Reserve updated its “Probability of U.S. Recession Predicted by Treasury Spread” this week with treasury yield data through November 2010, and the Fed’s recession probability forecast through November 2011. The NY Fed’s Treasury model uses the spread between the yields on 10-year Treasury notes (2.76% in November) and 3-month Treasury bills (0.14%) to calculate the probability of a U.S. recession up to twelve months ahead (see details here).

The Fed’s model (data here) … [visit site to read more] or compare Best Credit Cards and Best CD Rates

More Than One Reason

Posted: 09 Dec 2010 06:13 PM PST

People sometimes forget that three factors influence the various aspects of our economic lives. It’s one thing to say, for example, that demand for a product or service is weak, but what about the other two determinants? Is the price higher than what people are willing or able to pay? Is the supply too large relative to what the market can readily absorb? Assuming that only one of these aspects explains things can create a misleading picture. As the following Bloomberg report, “Lending to … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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