Monday, February 28, 2011

DailyMarkets.com - Gold, Dollar, Stocks & Sentiment At Major Pivot Point

DailyMarkets.com - Gold, Dollar, Stocks & Sentiment At Major Pivot Point


Gold, Dollar, Stocks & Sentiment At Major Pivot Point

Posted: 28 Feb 2011 03:25 AM PST

So far 2011 has been an interesting to say the least. Stocks and commodities have been jumping around with high volatility generating mixed trading signals. This choppy price action typically indicates trends are in their late stages. The late stages of a trend is very difficult to trade because volatility rises meaning larger day to day price swings, and at any time the price could either drop like a rock or go parabolic surging higher in value. Generally the largest moves take place … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Credit Scoring And Buckets – FICO’s Dirty Little Secret

Posted: 28 Feb 2011 03:20 AM PST

"My score dropped in spite of paying all my bills on time.  Buckets are probably the reason says a lady at work.  What are buckets?" Mona wanted to know.

So Mona called Sue, a mortgage loan officer and a friend.  Risk is everything to FICO (FICO), Sue explained.  People of similar risks find themselves grouped together.

How does FICO do this?  Little is known for sure.  The best information Sue had went like this:

– They separate the people who use cash from those … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/GBP Dips Lower After Soft Euro Zone Inflation Data

Posted: 28 Feb 2011 03:06 AM PST

Forex Pros – The euro extended modest losses against the pound on Monday, following data showing that euro zone consumer prices rose less quickly in January than initially thought.

EUR/GBP hit 0.8522 during European morning trade, the pair's lowest since Thursday; the pair subsequently consolidated at 0.8523, dipping 0.12%.

The pair was likely to find support at 0.8468, Thursday's low and resistance at 0.8592, Thursday's high and a four week high.

Eurostat said the annualized rate of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Slips Vs. Safe Haven Swiss Franc As Mideast Fears Weigh

Posted: 28 Feb 2011 02:33 AM PST

Forex Pros – The U.S. dollar slipped to a daily low against the Swiss franc on Monday, as concerns over spreading unrest in the Middle East and North Africa kept the safe-haven appeal of the franc intact.

USD/CHF hit 0.9260 during European morning trade, the daily low; the pair subsequently consolidated at 0.9272, slipping 0.11%.

The pair was likely to find support at 0.9227, Friday's low and the pair's all-time low and resistance at 0.9334, last Thursday's high.

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


Oscar Winner Charles Ferguson Rips Wall Street And Washington

Posted: 28 Feb 2011 02:28 AM PST

"Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that's wrong."
With those words last evening, Charles Ferguson, the winner of the Academy Award for Best Documentary for his film Inside Job, did a lot more than merely begin an acceptance speech. Ferguson touched the third rail and made a political statement. But did he really? Not in my opinion. Ferguson spoke … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex Trading: Eurozone CPI

Posted: 28 Feb 2011 02:05 AM PST

Eurozone CPI y/y came in at 2.3%, weaker than the 2.4% expected.
Core CPI y/y came in at 1.1%, weaker than the 1.2% expected.
Eur/Usd mad enew highs going into this data and currently trades just off the highs at … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Euro Zone CPI Rises Less-than-expected In January

Posted: 28 Feb 2011 02:05 AM PST

Forex Pros – Consumer price inflation in the euro zone rose less than initially expected in January, official data showed on Monday.

In a report, Eurostat said that CPI rose by a seasonally adjusted 2.3% in January, compared to a preliminary estimate of 2.4%.

Analysts had expected euro zone consumer price inflation to rise by 2.4% in January.

Core CPI, which excludes food, energy, alcohol, and tobacco costs, rose less-than-expected, rising by a seasonally adjusted 1.1% in January, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Down Vs. Most Rivals As Higher Oil Prices Weigh

Posted: 28 Feb 2011 01:59 AM PST

Forex Pros – The U.S. dollar was broadly lower against its major counterparts on Monday, as concerns over the impact of higher oil prices on the U.S. economy weighed on the greenback.

During European morning trade, the greenback was down against the euro, with EUR/USD climbing 0.55% to hit 1.3830.

The greenback was also against the pound, with GBP/USD advancing 0.48% to hit 1.6194.

Elsewhere, the greenback edged higher against the yen but was lower against the Swiss franc, with USD/JPY … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Euro Stocks Decline As HSBC Drops; DAX Down 0.12%

Posted: 28 Feb 2011 01:51 AM PST

Forex Pros – European stock markets were down on Monday, as ongoing violence in the Middle East and downbeat earnings from HSBC weighed on market sentiment, while U.S. futures indexes pointed to a lower open on Wall Street.

During European morning trade, the EURO STOXX 50 dropped 0.25%, France's CAC 40 eased down 0.03%, while Germany’s DAX shed 0.12%.

Anti-government protests continued in the Middle East and North Africa over the weekend, with demonstrations spreading to Oman for the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Pound Climbs As Dollar Weighted By High Oil Prices

Posted: 28 Feb 2011 01:44 AM PST

Forex Pros – The pound hit a two-day high against the U.S. dollar on Monday, as the dollar was weighed by concerns that the threat to economic growth staged by higher oil prices would see the U.S. Federal Reserve hold interest rates at record lows.

GBP/USD hit 1.6208 during European morning trade, the pair's highest since last Thursday; the pair subsequently consolidated at 1.6191, gaining 0.45%.

Cable was likely to find support at 1.6070, the days low and resistance at 1.6253, last … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Edges Cautiously Higher As Oil Prices Stabilize

Posted: 28 Feb 2011 12:44 AM PST

Forex Pros – The U.S. dollar edged cautiously higher against the yen on Monday, with risk appetite staging a modest recovery as oil prices stabilized after spiking to a two-day high during the Asian session.

USD/JPY hit 81.79 during early European trade, the daily high; the pair subsequently consolidated at 81.78, easing up 0.12%.

The pair was likely to find support at 81.34, the low of February 2 and resistance at 82.05, Friday's high.

Crude futures for delivery in April traded at … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Erases Gains As Lower China Growth Targets Weigh

Posted: 28 Feb 2011 12:11 AM PST

Forex Pros – The Australian dollar erased modest gains against its U.S. counterpart on Monday, after Chinese Premier Wen Jiabao said Sunday that his country will target slower economic growth over the next five years to ease inflationary pressures.

AUD/USD retreated from 1.0186, the pair's highest since February 8, to hit 1.0164 during late Asian trade, slipping 0.09%.

The pair was likely to find support at 1.0085, Friday's low and resistance at 1.0199, the high of February 8 and a … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – NZD/USD Trims Gains As Govt. Counts Earthquake Costs

Posted: 27 Feb 2011 11:48 PM PST

Forex Pros – The New Zealand dollar trimmed gains against its U.S. counterpart on Monday, as New Zealand's government outlined the preliminary costs of the earthquake that struck the nations second largest city, Christchurch, last week.

NZD/USD retreated from 0.7554, the pair's highest since February 22, to hit 0.7525 during late Asian trade, gaining 0.11%.

The pair was likely to find support at 0.7468, Friday's low and resistance at 0.764, Friday's high.

New Zealand’s Finance … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Asia Stocks Mixed As Mideast Tensions Continue; Nikkei Adds 0.92%

Posted: 27 Feb 2011 11:45 PM PST

Forex Pros – Asian stock markets were mixed on Monday, amid ongoing political turmoil in the Middle East, while Japanese lenders advanced, led higher by Mizuho Financial Group.  

During late Asian trade, Hong Kong’s Hang Seng Index jumped 1.55%, South Korea’s Kospi Composite tumbled 1.23%, while Japan's Nikkei 225 Index gained 0.92%.

Anti-government protests continued in the Middle East and North Africa over the weekend, with demonstrations spreading to Oman for the first … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Euro Edges Higher Against Dollar As Mideast Tensions Continue

Posted: 27 Feb 2011 11:19 PM PST

Forex Pros – The euro edged higher against the U.S. dollar on Monday, as expectations of an early interest rate hike by the European Central Bank supported the single currency against a backdrop of continued unrest in the Middle East and North Africa.

EUR/USD hit 1.3786 during late Asian trade, the daily high; the pair subsequently consolidated at 1.3783, rising 0.21%.

The pair was likely to find support at 1.3646, last Wednesday's low and short-term resistance at 1.3837, Friday's high … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bear Of The Day: ProAssurance Corp. (PRA)

Posted: 27 Feb 2011 11:05 PM PST

We are downgrading our recommendation on ProAssurance Corp. (NYSE:PRA) from Neutral to Underperform, owing to the decline in net premiums and increased total expenses, which also resulted in the deterioration of the top line and the combined ratio.
In addition, third quarter earnings declined year over year, though in line with the Zacks Consensus Estimate. Though the company has significantly expanded its footprint with the recent acquisition of American Physicians Service Group, and deployed … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bull Of The Day: Tractor Supply Co. (TSCO)

Posted: 27 Feb 2011 11:05 PM PST

On the back of strong same-store sales, improved merchandise mix, prudent inventory management and effective cost control, Tractor Supply Co. (NASDAQ:TSCO) posted better-than-expected fourth-quarter 2010 results. The quarterly earnings beat the Zacks Consensus Estimate of $0.62.
Furthermore, margins improved due to portfolio expansion of private label brands and focus on direct sourcing of merchandise. The company has set a long-term target of generating 25% of sales from private label brands and … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Growth & Income Stock: Dime Community Bancshares, Inc.

Posted: 27 Feb 2011 11:05 PM PST

Dime Community Bancshares (NASDAQ:DCOM) is benefiting from a steepening of the yield curve and improving credit trends. This has prompted analysts to revise their earnings estimates higher, propelling the stock to a Zacks #2 Rank (Buy).
Based on the consensus estimates, analysts expect 8% EPS growth in 2011 and 5% growth in 2012.
The company also pays a dividend that yields 3.7% – a dividend that held steady throughout the financial crisis of 2008-2009.
Company Description
Dime Community Bancshares … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Momentum Stock: Skilled Healthcare Group, Inc.

Posted: 27 Feb 2011 11:05 PM PST

Skilled Healthcare Group, Inc. (NYSE:SKH) is trading like a momentum all-star, recently hitting a new multi-year high on an 11% Q4 earnings surprise. With estimates jumping higher, and a bullish growth projection, this Zacks #1 rank stock is looking strong.
Company Description
Skilled Healthcare Group, Inc., through its subsidiaries, operates skilled nursing and assisted living facilities, hospices and specialty care facilities in the United States. The company has a market cap of $504 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Aggressive Growth Stock: ION Geophysical

Posted: 27 Feb 2011 11:05 PM PST

ION Geophysical Corp (NYSE:IO) recently jumped sharply on its fantastic earnings results. The company doubled the consensus estimate and things are looking good for 2011.
This Zacks #1 Rank (Strong Buy) analysts are pushing estimates higher and are expecting earnings to triple this year.
Company Description
ION Geophysical provides geophysical technology and services to the global oil & gas industry. E&Ps use the company’s variety of seismic imaging technologies to reduce risks on land as … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Up During The Asian Session

Posted: 27 Feb 2011 10:10 PM PST

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

EUR/USD was trading at 1.3758, up 0.03% at time of writing.

The pair was likely to find support at 1.3672, Wednesday's low, and resistance at 1.3838, Friday's high.

Meanwhile, the Euro was up against the British Pound and the Japanese Yen, with EUR/GBP gaining 0.08% to hit 0.8541 and EUR/JPY rising 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Down In Asian Trade

Posted: 27 Feb 2011 09:45 PM PST

Forex Pros – The British Pound was lower against the U.S. Dollar on Monday.

GBP/USD was trading at 1.6112, down 0.04% at time of writing.

The pair was likely to find support at 1.6032, Friday's low, and resistance at 1.6274, Wednesday's high.

Meanwhile, the British Pound was down against the Euro and the Japanese Yen, with EUR/GBP gaining 0.08% to hit 0.8541 and GBP/JPY falling 0.11% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/CHF Down In Asian Trading Hours

Posted: 27 Feb 2011 09:10 PM PST

Forex Pros – The Euro was lower against the Swiss Franc on Monday.

EUR/CHF was trading at 1.2750, down 0.14% at time of writing.

The pair was likely to find support at 1.2707, Thursday's low, and resistance at 1.2882, Wednesday's high.

Meanwhile, the Euro was up against the U.S. Dollar and the Japanese Yen, with EUR/USD gaining 0.01% to hit 1.3756 and EUR/JPY rising 0.01% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Long-Term Forex Forecasts For Feb 28, 2011

Posted: 27 Feb 2011 09:01 PM PST

EUR/USD

The weekly EUR/USD chart shows that we have been in consolidation for several weeks, between the 1.3750 and 1.3750 areas after a break and a retest of a larger trend line. Even though the pair has been very bullish recently, it has not "officially" changed overall trend from being down. The most recently weekly candle was a "hammer", and shows that a serious push downward was repelled. Until further notice, this pair is still in consolidation, but the bias certainly … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Crude Rises As Unrest Spreads, Gold Inches Back Toward Records

Posted: 27 Feb 2011 08:51 PM PST

Commodities – Energy
Crude Rises as Unrest Spreads
Crude Oil (WTI) – $99.66 // $1.78 // 1.82%
Commentary: Crude oil is starting the new week how it left last week—to the upside. Both WTI and Brent are up almost 2% in early trade, with the former back near the key $100 level. A still very uncertain situation in Libya has the market on edge, and now that a substantial amount of production has been knocked offline due to the crisis, it will be months at least before things are back to normal. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/CHF Down During The Asian Session

Posted: 27 Feb 2011 08:40 PM PST

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

USD/CHF was trading at 0.9272, down 0.11% at time of writing.

The pair was likely to find support at 0.9234, Thursday's low, and resistance at 0.9392, Wednesday's high.

Meanwhile, the U.S. Dollar was down against the Euro and the Japanese Yen, with EUR/USD gaining 0.001% to hit 1.3754 and USD/JPY falling 0.02% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


The Media Myth Of Japan’s “Lost Decades”

Posted: 27 Feb 2011 08:13 PM PST

The chart above shows annual real GDP per capita for Japan and the U.S. (data here) from 1980 to 2010, where each series has been converted to an index, with a value of 100 for the year 1980.   Compared to 1980, Japan’s real GDP per capita in 2010 was nearly 70% higher, vs. a 66% increase for US real GDP per capita over the last 30 years.  Japan had higher economic growth than the U.S. during the 1980s, slightly lower growth during the 1990s, about the same growth during the 2000s, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/GBP Up In Asian Trade

Posted: 27 Feb 2011 08:10 PM PST

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

EUR/GBP was trading at 0.8543, up 0.11% at time of writing.

The pair was likely to find support at 0.8424, Wednesday's low, and resistance at 0.8593, Friday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.06% to hit 1.3746 and EUR/JPY falling 0.05% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Down In Asian Trading Hours

Posted: 27 Feb 2011 07:40 PM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Monday after the release of Japanese data on Industrial Production.

USD/JPY was trading at 81.68, down 0.01% at time of writing.

The pair was likely to find support at 81.62, today's low, and resistance at 82.89, Wednesday's high.

Earlier in the day, preliminary data showed that Industrial production in Japan rose less-than-expected to a seasonally adjusted 2.40% last month from 3.30% in the preceding month.

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


Forex – USD/CAD Up During The Asian Session

Posted: 27 Feb 2011 07:10 PM PST

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Monday.

USD/CAD was trading at 0.9782, up 0.05% at time of writing.

The pair was likely to find support at 0.9774, today's low, and resistance at 0.9960, Wednesday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.09% to hit 1.3742 and GBP/USD falling 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Not The Time To Be Betting On The Upside

Posted: 27 Feb 2011 07:04 PM PST

Ever since I began publishing this blog in December 2006, I’ve relied on a combination of quantitative and qualitative data to try and assess where things stand and where they are headed. However, because of reporting lags and occasional difficulties in trying to assess the overall health of a complex economy like ours — not to mention Washington’s and Wall Street’s relentless attempts to spin every data point as a budding bull story — I’ve tended to focus a bit more on human interest … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Down In Asian Trade

Posted: 27 Feb 2011 06:30 PM PST

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

AUD/USD was trading at 1.0137, down 0.37% at time of writing.

The pair was likely to find support at 0.9982, Wednesday's low, and resistance at 1.0178, Friday's high.

Meanwhile, the Australian Dollar was down against the Euro and the Japanese Yen, with EUR/AUD gaining 0.23% to hit 1.3549 and AUD/JPY falling 0.35% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/CHF Down In Asian Trading Hours

Posted: 27 Feb 2011 06:05 PM PST

Forex Pros – The British Pound was lower against the Swiss Franc on Monday.

GBP/CHF was trading at 1.4909, down 0.36% at time of writing.

The pair was likely to find support at 1.4892, Thursday's low, and resistance at 1.5265, Wednesday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and the Euro, with GBP/USD shedding 0.26% to hit 1.6076 and EUR/GBP rising 0.12% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Singapore Stock Market Update For Monday 28 February

Posted: 27 Feb 2011 05:42 PM PST

Morning Highlights

There Are No Quick Picks For Today!
Singapore shares fell in opening trade on worries that Libya’s turmoil may spread to other Middle Eastern countries. STI dropped 21.41 points to open at 3003.75

Ying Li Q4 profit jumps 4X…

Watch Out For Economic News Release This Week:

Monday 28/02/11: U.S Feb Pending Home Sales
Tuesday 01/03/11: China Feb PMI Manufacturing & U.S. Feb ISM Manufacturing
Wednesday 02/03/11: U.S Feb ADP Employment Change
Friday 04/03/11: U.S Feb … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Down During The Asian Session

Posted: 27 Feb 2011 05:35 PM PST

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

EUR/USD was trading at 1.3723, down 0.22% at time of writing.

The pair was likely to find support at 1.3672, Wednesday's low, and resistance at 1.3838, Friday's high.

Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.01% to hit 0.8534 and EUR/JPY falling 0.19% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/JPY Down In Asian Trade

Posted: 27 Feb 2011 05:00 PM PST

Forex Pros – The Euro was lower against the Japanese Yen on Monday after the release of Japanese data on Industrial Production.

EUR/JPY was trading at 112.14, down 0.18% at time of writing.

The pair was likely to find support at 111.97, today's low, and resistance at 113.83, Wednesday's high.

Earlier in the day, preliminary data showed that Industrial production in Japan rose less-than-expected to a seasonally adjusted 2.40% last month from 3.30% in the preceding month.

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


Forex – USD/JPY Down On Economic Data

Posted: 27 Feb 2011 04:35 PM PST

Forex Pros – The U.S. Dollar was lower against the Japanese Yen on Monday after the release of Japanese data on Industrial Production.

USD/JPY was trading at 81.66, down 0.03% at time of writing.

The pair was likely to find support at 81.62, today's low, and resistance at 82.89, Wednesday's high.

Earlier in the day, preliminary data showed that Industrial production in Japan rose less-than-expected to a seasonally adjusted 2.40% last month from 3.30% in the preceding month.

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


Is This The Top? Or A Minor Pullback?

Posted: 25 Feb 2011 12:43 AM PST

Despite many of the macro risks that face the market, my models and indicators are telling me that the current bout of weakness is just a minor pullback to be bought, rather than a more serious intermediate term top, which I expect to develop later in the year. My conclusion is based upon the following:

Model: The Inflation-Deflation Timer Model, which is a trend following model as applied to commodity prices on the basis that commodities represent the “canaries in the coal mine” of global … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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