Tuesday, February 22, 2011

DailyMarkets.com - Growing Industrial Demand Buoys Silver Outlook

DailyMarkets.com - Growing Industrial Demand Buoys Silver Outlook


Growing Industrial Demand Buoys Silver Outlook

Posted: 22 Feb 2011 03:35 AM PST

Irrespective of the concerns over financial tightening, talks of a gold bubble and economical weakness, gold marked its tenth straight annual gain in 2010. Not only gold, other members of the precious metal group such as silver and platinum were also up last year. At this juncture, last year's bull run appears to be running out of steam. However, both technicals and fundamentals indicate improved investment options in precious metals, particularly silver, if you have a long-term … [visit site to read more] or compare Best Credit Cards and Best CD Rates


18 Sobering Facts Which Prove That The Middle Class Is Not Being Included In This “Economic Recovery”

Posted: 22 Feb 2011 03:25 AM PST

Have you heard the news?  The stock market is absolutely soaring and according to the U.S. government and the Federal Reserve we are in the beginning stages of a robust economic recovery.  Yippee!  The S&P 500 is up 6.8 percent so far in 2011, and the stock market recently hit a two and a half year high.  So shouldn’t we all be celebrating?  Well, if stock market performance was an accurate measure of economic health, then Zimbabwe would have had one of the healthiest … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/CHF Drops To 3-week Low On Mideast Worries

Posted: 22 Feb 2011 02:46 AM PST

Forex Pros – The U.S. dollar declined against the Swiss franc on Tuesday, dropping to a three-week low as risk aversion arising from escalating violence in North Africa and the Middle East drove investors towards the safe haven franc.

USD/CHF hit 0.9408 during European morning trade, the pair's lowest since February 3; the pair subsequently consolidated at 0.9418, slumping 0.53%.

The pair was likely to find support at 0.9394, the low of February 3 and short-term resistance at 0.9504, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Falls To 8-day Low As Libya Unrest Escalates

Posted: 22 Feb 2011 02:18 AM PST

Forex Pros – The dollar slumped to an eight-day low against the yen on Tuesday, as concerns over escalating violence in Libya and the Middle East boosted demand for the safe haven yen.

USD/JPY hit 82.78 during European morning trade, the pair's lowest since February 10; the pair subsequently consolidated at 82.94, dipping 0.23%.

The pair was likely to find support at 82.32, the low of February 10 and resistance at 83.52, the high of February 18.

Violent protests intensified in Libya … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Stocks To Trade For Tuesday: AKAM, AAPL, FFIV, SPWRA

Posted: 22 Feb 2011 02:07 AM PST

The market action we saw on Friday really told the story of the divergences that are going on here. We are seeing the big growth names such as Apple (NASDAQ:AAPL), Akamai Technologies (NASDAQ:AKAM), F5 Networks (NASDAQ:FFIV) and even Mosaic (NYSE:MOS) and Agrium (NYSE:AGU) closing the day lower. Some of these names are not only breaking support levels but old support is starting to turn into new resistance. This is never a good sign.

AAPL

On the flip side of the coin we still saw new highs in our … [visit site to read more] or compare Best Credit Cards and Best CD Rates


European Stocks Drop On Mideast Fears; DAX Down 0.59%

Posted: 22 Feb 2011 02:04 AM PST

Forex Pros – European stock markets were broadly lower on Tuesday, amid ongoing tensions in the Middle East and North Africa and as oil prices continued to rally, while U.S. futures indexes pointed to a lower open on Wall Street.

During European morning trade, the EURO STOXX 50 dropped 1.17%, France's CAC 40 slumped 1.46%, while Germany’s DAX was down 0.59%.

Violent protests intensified in Libya overnight in the most serious challenge to the 42-year rule of leader Muammar Qaddafi after … [visit site to read more] or compare Best Credit Cards and Best CD Rates


U.K. Public Sector Net Borrowing Drops More-than-expected In January

Posted: 22 Feb 2011 01:36 AM PST

Forex Pros – Public sector net borrowing in the U.K. fell significantly more-than-expected in January, official data showed on Tuesday.

In a report, the U.K. National Statistics Office said that public sector net borrowing, or the difference in value between public spending and income fell to GBP5.3 billion in January, after rising by GBP14.5 billion in December, whose figure was revised down from GBP15.3 billion.

Economists had expected public sector net borrowing to decline by GBP0.7 … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – Dollar Broadly Higher Vs. Rivals As Libya Violence Deepens

Posted: 22 Feb 2011 01:11 AM PST

Forex Pros – The U.S. dollar was broadly higher against its major counterparts on Tuesday, as tensions in the Middle East and North Africa continued, prompting investors towards safety of the greenback.

During European morning trade, the greenback was up against the euro, with EUR/USD dropping 0.91% to hit a four-day low of 1.3553.

Earlier in the day, market research group Gfk said its index of Germany’s consumer climate advanced to 6.0 in March, after rising to a revised 5.8 in February. … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Hits 3-day Low As Mideast Violence Intensifies

Posted: 22 Feb 2011 12:55 AM PST

Forex Pros – The pound was down for a second day against the U.S. dollar on Tuesday, as risk aversion arising from escalating violence in North Africa and the Middle East weighed.

GBP/USD hit 1.6132 during European morning trade, the pair's lowest since February 17; the pair subsequently consolidated at 1.6143, declining 0.51%.

Cable was likely to find support at 1.6074, the low of February 15 and resistance at 1.6257, Monday's high.

Violent protests intensified in Libya overnight in … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Hits 4-day Low Amid Rising Risk Aversion

Posted: 22 Feb 2011 12:30 AM PST

Forex Pros – The Australian dollar was down against its U.S. counterpart on Tuesday, sliding to a four-day low after a major earthquake hit neighboring New Zealand, while ongoing unrest in the Middle East also weighed.

AUD/USD hit 0.9984 during late Asian trade, the pair's lowest since February 16; the pair subsequently consolidated at 0.9996, shedding 0.97%.

The pair was likely to find support at 0.9942, the low of February 15 and resistance at 1.0150, Monday's high.

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


Forex – NZD/USD Tumbles To 2-month Low After Christchurch Quake

Posted: 22 Feb 2011 12:12 AM PST

Forex Pros – The New Zealand dollar tumbled to a two-month low against its U.S. counterpart on Tuesday, after an earthquake rocked the country's second largest city, Christchurch.

NZD/USD hit 0.7485 during late Asian trade, the pair's lowest since December 27, 2010; the pair subsequently consolidated at 0.7497, tumbling 1.84%.

The pair was likely to find support at 0.7454, the low of December 27 and resistance at 0.7651, Monday's high.

Earlier Tuesday, a magnitude 6.3 earthquake … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Asia Stocks Tumble On Middle East Turmoil; Nikkei Slumps 1.78%

Posted: 21 Feb 2011 11:52 PM PST

Forex Pros – Asian stock markets posted sharp losses on Tuesday as investors focused on ongoing tensions in the Middle East and North Africa, while markets in Japan were hit after Moody's downgraded the country's debt outlook.

During late Asian trade, Hong Kong’s Hang Seng Index tumbled 2.19%, South Korea’s Kospi Composite dropped 1.76%, while Japan's Nikkei 225 Index slumped 1.78%.

In Libya, scores of anti-government protesters were killed on Monday as the government attacked … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Drops To 2-day Low As Mideast Tensions Weigh

Posted: 21 Feb 2011 11:33 PM PST

Forex Pros – The euro was down against the U.S. dollar on Tuesday, dropping to a two-day low as ongoing tensions in the Middle East and North Africa drove investors towards the safety of the greenback.

EUR/USD hit 1.3556 during late Asian trade, the pair's lowest since February 18; the pair subsequently consolidated at 1.3565, slumping 0.83%.

The pair was likely to find support at 1.3461, the low of February 16 and resistance at 1.3714, Monday's high.

In Libya, scores of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


German Gfk Consumer Climate Index Rises Unexpectedly

Posted: 21 Feb 2011 11:20 PM PST

Forex Pros – Germany’s consumer climate improved unexpectedly in March, industry data showed on Tuesday.

In a report, market research group Gfk said its index of Germany’s consumer climate advanced to 6.0 in March, after rising to 5.8 in February, whose figure was revised up from 5.7.

Analysts had expected the index to remain unchanged at 5.8 in March.

The report said that income expectations have increased noticeably, whereas economic expectations and the propensity to buy have recorded … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Aggressive Growth Stock: Universal Stainless & Alloy Products, Inc.

Posted: 21 Feb 2011 11:05 PM PST

Universal Stainless & Alloy Products, Inc. (NASDAQ:USAP) is making the most of the economic recovery. The backlog is at 2-year highs and the company is on a hot streak of earning surprises.
Analysts are bullish on this Zacks #1 Rank (Strong Buy) and
Company Description
Universal Stainless & Alloy Products makes specialty steels and alloys for the aerospace, power, petrochemical and heavy equipment industries.
Sales Almost Double
On Jan 26 USAP reported fourth-quarter results that included … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bull Of The Day: Whole Foods Market (WFMI)

Posted: 21 Feb 2011 11:05 PM PST

Whole Foods Market (NASDAQ:WFMI) with a strong brand image offers investors one of the strongest growth profiles in the industry, and the stock is poised to surge as the demand for natural and organic products improves. The company is also revamping its pricing strategy and concentrating more on value offerings while maintaining healthy margins.
The stringent cost-control measures, effective inventory management and improved store-level performance are driving earnings growth. The company, in the … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Bear Of The Day: Novatel Wireless (NVTL)

Posted: 21 Feb 2011 11:05 PM PST

We downgrade our recommendation for Novatel Wireless (NASDAQ:NVTL) to Underperform, just ahead of its fourth quarter of 2010 financial results. The recent trend of the 3G USB modem industry is indicating a glut of inventory on the part of the wireless carriers.
Several industry sources predicted that Verizon Wireless, a important customer of Novatel for its MiFi intelligent hotspot, may generate lukewarm demand in the first quarter of 2011 attributable to its huge modem inventory. Furthermore, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Growth & Income Stock: McKesson Corp

Posted: 21 Feb 2011 11:05 PM PST

Management at McKesson Corporation (NYSE:MCK) recently raised its earnings guidance for 2011 following the company’s solid third quarter earnings surprise.
This prompted the majority of analysts to raise their estimates for both 2011 and 2012, sending the stock to a Zacks #2 Rank (Buy).
The company also produces strong cash flow and pays a dividend that yields 0.9%.
Company Description
McKesson Corporation provides services and products to health care providers and payors to help them reduce … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Momentum Stock: Georgia Gulf Corp.

Posted: 21 Feb 2011 11:05 PM PST

Georgia Gulf Corp. (NYSE:GGC) is looking like quite the high flyer, recently surging to a new all-time high after reporting a hefty 975% earnings surprise. With estimates on the upswing and a bullish growth projection, this Zacks #1 stocks offers plenty of momentum.
Company Description
Georgia Gulf Corp manufactures and sells a line of specialty chemicals in the United States and Internationally. The company was founded in 1984 and has a market cap of $1.05 billion.
Although GGC has been trending … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Crude Skyrockets On Libya Turmoil, Gold Surpasses $1400

Posted: 21 Feb 2011 10:51 PM PST

Commodities – Energy
Crude Skyrockets on Libya Turmoil
Crude Oil (WTI) – $92.59 // $6.39 // 7.41%
Commentary: Oil prices skyrocketed on Monday, with Brent adding $3.22, or 3.14%, to settle at $105.74- while WTI didn't settle due to the U.S. President's day holiday- but is up a whopping $6.56, or 7.61%, to $92.76 in electronic trade. Without question, the unrest in Libya is fueling this move. As an OPEC member with production totaling 1.55 million barrels per day, the country is … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Down During The Asian Session

Posted: 21 Feb 2011 10:20 PM PST

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

EUR/USD was trading at 1.3587, down 0.66% at time of writing.

The pair was likely to find support at 1.3537, Thursday's low, and resistance at 1.3716, Monday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.28% to hit 0.8406 and EUR/JPY falling 0.47% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – GBP/USD Down In Asian Trade

Posted: 21 Feb 2011 09:50 PM PST

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

GBP/USD was trading at 1.6174, down 0.32% at time of writing.

The pair was likely to find support at 1.6076, Thursday's low, and resistance at 1.6263, Friday's high.

Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.32% to hit 0.8403 and GBP/JPY falling 0.10% 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: 21 Feb 2011 09:20 PM PST

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

EUR/CHF was trading at 1.2888, down 0.48% at time of writing.

The pair was likely to find support at 1.2883, today's low, and resistance at 1.3031, Thursday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.68% to hit 1.3585 and EUR/JPY falling 0.46% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/CHF Up During Asian Trade

Posted: 21 Feb 2011 08:50 PM PST

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

USD/CHF was trading at 0.9486, up 0.17% at time of writing.

The pair was likely to find support at 0.9435, Monday's low, and resistance at 0.9602, Thursday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the Japanese Yen, with EUR/USD shedding 0.69% to hit 1.3584 and USD/JPY rising 0.30% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Singapore Stock Market Update For Tuesday 22 February

Posted: 21 Feb 2011 08:44 PM PST

Morning Highlights

There Are No Quick Picks For Today!
Singapore market continued to be weak with STI down 27.39 points to open at 3043.21. Overall investors' sentiment is adversely affected… In New Zealand, stocks were also pulled down by an earthquake which hit the country’s second-largest city of Christchurch.
News Updates:

GOLD rallied for a sixth day surpassing $1,400 an ounce.

Oil rose to the highest since September 2008.

Corporate Announcements:

Yangzijiang reported 29% … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/GBP Down During The Asian Session

Posted: 21 Feb 2011 08:20 PM PST

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

EUR/GBP was trading at 0.8406, down 0.29% at time of writing.

The pair was likely to find support at 0.8359, Friday's low, and resistance at 0.8445, Monday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.65% to hit 1.3589 and EUR/JPY falling 0.51% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Asian Markets Take A Steep Tumble, “Risk-Off” Trading Dominates

Posted: 21 Feb 2011 08:09 PM PST

Libyan Jets and Helicopters Open Fire on Anti-Government Protesters, Escalating Violence
A trio of news developments hurt Asian stock markets as turmoil in Libya appears to be worsening, amid claims that Libyan jets and helicopters fired on anti-government protesters. That had been the backdrop for declines in the European session, where  stocks fell sharply as well. US markets were closed for President's Day.

From MarketWatch: Asian Shares Down, Middle East Weights, New Zealand … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/JPY Up During Asian Trade

Posted: 21 Feb 2011 07:40 PM PST

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

USD/JPY was trading at 83.29, up 0.17% at time of writing.

The pair was likely to find support at 82.84, today's low, and resistance at 83.75, Thursday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.70% to hit 1.3582 and GBP/USD falling 0.42% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


EUR/GBP Targets 0.8360 Below The 0.84 Middle Pivot

Posted: 21 Feb 2011 07:15 PM PST

Can the Rate Hike Prospect Push the Euro Higher (2/18 Video)
EUR/GBP

- The EUR/GBP pair in the 1H chart looks bearish to start the week. After Friday' s sharp dip, we had an equally if not sharper rally from the previous low near 0.8350, 0.8360. The rally however respected the 0.8450 high. We anticipated this to give us resistance if the 0.8415 clip did not hold. This was the case.
- Further bullish outlook towards 0.8650 is to be considered pending a break above 0.8450, but a respect of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – USD/CAD Up In Asian Trading Hours

Posted: 21 Feb 2011 07:10 PM PST

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

USD/CAD was trading at 0.9861, up 0.32% at time of writing.

The pair was likely to find support at 0.9816, Thursday's low, and resistance at 0.9874, Friday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.77% to hit 1.3573 and GBP/USD falling 0.43% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


GBP/JPY Testing Support And Bullish Momentum At 134.15

Posted: 21 Feb 2011 06:57 PM PST

GBP/JPY Maintains Bullish Momentum Towards 136.40, 137.75 (2/18)
GBP/JPY

- The GBP/JPY was going towards 136.40, 137.75 area as noted last Friday, but the market started the week respecting last week's high near 135.45.
- The RSI in the 4H Chart still remains above 40, so the bearish attempt has not violated intermediate term bullish momentum, which was signaled when the RSI surged above 70 last week.
- If the 134.15 area holds, we still have a swing projection towards the 136.40 area, … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – AUD/USD Down During Asian Trade

Posted: 21 Feb 2011 06:30 PM PST

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

AUD/USD was trading at 1.0057, down 0.37% at time of writing.

The pair was likely to find support at 1.0023, Thursday's low, and resistance at 1.0157, Friday's high.

Meanwhile, the Australian Dollar was up against the Euro and down against the Japanese Yen, with EUR/AUD shedding 0.20% to hit 1.3525 and AUD/JPY falling 0.37% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


NYFP’s This Week In Wall Street History

Posted: 21 Feb 2011 06:15 PM PST

Episode 5:
The latest installment of NYFP’s “This Week in Wall Street History” introduces us the humble beginnings of computer powerhouse International Business Machines, also known as … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/USD Down During The Asian Session

Posted: 21 Feb 2011 06:05 PM PST

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

EUR/USD was trading at 1.3607, down 0.52% at time of writing.

The pair was likely to find support at 1.3537, Thursday's low, and resistance at 1.3716, Monday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.24% to hit 0.8410 and EUR/JPY falling 0.63% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Weekend Crossmarket Fallout From Overseas News

Posted: 21 Feb 2011 05:57 PM PST

If you are just returning from a vacation this three-day weekend, you may be shocked to find high volatile moves in the futures markets.
Let's take a quick end-of-holiday look at four cross-markets to see the fall-out (big moves up and down) as a result of violence spreading through Africa – namely Libya.

While the US Stock Market was closed Monday, the futures markets were not.
As of Monday evening, here are the following moves off the lows seen Friday the 18th:
Silver us up over 8% (up … [visit site to read more] or compare Best Credit Cards and Best CD Rates


Forex – EUR/JPY Down During Asian Trade

Posted: 21 Feb 2011 05:40 PM PST

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

EUR/JPY was trading at 113.02, down 0.63% at time of writing.

The pair was likely to find support at 112.89, today's low, and resistance at 114.25, Monday's high.

Meanwhile, the Euro was down against the U.S. Dollar and the British Pound, with EUR/USD shedding 0.45% to hit 1.3617 and EUR/GBP falling 0.21% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates


How Empires Decline

Posted: 21 Feb 2011 12:28 AM PST

The headline on the weekend read House approves dramatic cuts in federal spending in 235-189 vote [emphasis added]:

In a rare early morning weekend vote, the House approved an aggressive plan Saturday to eliminate dozens of federal programs and offices while slashing agency budgets by as much as 40 percent, drawing out more than $60 billion in deficit savings.

Sound and fury signifying nothing
Wow, $60 billion! How dramatic is that?

The “dramatic cuts” of $60 billion amounted to 1.6% of … [visit site to read more] or compare Best Credit Cards and Best CD Rates


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