Tuesday, July 26, 2011

DailyMarkets.com - Supervalu Surpasses, Outlook Stable

DailyMarkets.com - Supervalu Surpasses, Outlook Stable


Supervalu Surpasses, Outlook Stable

Posted: 26 Jul 2011 09:49 AM PDT

Supervalu Inc. (NYSE:SVU), one of the largest grocery chains in the United States, delivered higher-than-expected first quarter 2012 earnings on July 26, 2011. The quarterly earnings of 35 cents a share dipped 18.6% compared with 43 cents posted in the year-ago period. The quarterly earnings surpassed the Zacks Consensus Estimate of 33 cents.
Consequently, Supervalu reaffirmed its full-year 2012 earnings guidance. The company now expects fiscal 2012 adjusted earnings to be in the range of $1.20 to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Avery Beats EPS, Misses Revs

Posted: 26 Jul 2011 09:49 AM PDT

Avery Dennison Corporation (NYSE:AVY) has reported fiscal 2011 second quarter earnings per share (EPS) of 69 cents versus 78 cents in the year-earlier quarter.
The company incurred restructuring costs of 9 cents in the quarter, excluding which adjusted EPS was 78 cents, down from 94 cents in the year-ago quarter but ahead of the Zacks Consensus Estimate of 75 cents.
Total revenue in the second quarter increased to $1.72 billion from $1.68 billion in the prior-year quarter, but failed to meet … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


UBS Profit Dips, Target Unreachable

Posted: 26 Jul 2011 09:49 AM PDT

UBS AG (NYSE:UBS) has posted a sequential as well as a year-over-year drop in profit in the second quarter of 2011. The company's outlook also remained subdued in light of the new capital and regulatory requirements, coupled with a weakening economic outlook.
The company reported second quarter net profit attributable to shareholders of CHF 1.0 billion ($1.27 billion) or CHF 0.26 per share, down from CHF 1.8 billion or CHF 0.47 per share in the prior quarter and CHF 2.0 billion or CHF 0.52 per … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Waddell & Reed Beats By A Penny

Posted: 26 Jul 2011 09:49 AM PDT

Waddell & Reed Financial Inc.'s (NYSE:WDR) second quarter 2011 earnings came in at 58 cents per share, surpassing the Zacks Consensus Estimate by a penny. This also compared favorably with earnings of 53 cents recorded in the prior quarter and 40 cents in the prior-year quarter.
Results benefited primarily from improved gross sales across almost all Waddell & Reed's revenue channels, robust revenues, a strong growth in assets under management, lower redemptions and an improved … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Western Union Delivers Ahead

Posted: 26 Jul 2011 09:49 AM PDT

Global money transfer and payment services company, Western Union Co. (WU), has posted second quarter 2011 earnings of 42 cents per share, beating the Zacks Consensus Estimate by 5 cents, on the back of a strong margin improvement led by its Consumer-to-Consumer (C2C) segment. Earnings per share has also surpassed 36 cents recorded in the prior-year period. 
Western Union's revenues for the quarter were $1.4 billion, up 5% year over year. A 12% hike in foreign exchange revenues, coupled … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Invesco Beats By A Cent

Posted: 26 Jul 2011 09:35 AM PDT

Invesco Ltd.'s (NYSE:IVZ) second-quarter adjusted earnings came in at 44 cents per share, just a penny ahead of the Zacks Consensus Estimate. This also compares favorably with earnings of 27 cents in the prior-year quarter.
On a GAAP basis, earnings came in at 39 cents per share compared with 38 cents in the prior quarter and 9 cents in the year-ago quarter.
Invesco's earnings soared over the prior-year quarter primarily on an increase in net revenue, partially offset by higher operating … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


UPS Delivers Record 2Q

Posted: 26 Jul 2011 09:35 AM PDT

Before the opening bell, United Parcel Services (NYSE:UPS), the world’s largest package delivery company, reported second quarter adjusted earnings of $1.05 per share that outpaced the Zacks Consensus Estimate by a penny. Earnings per share showed substantial 25% growth from 84 cents in the year-ago quarter.
UPS generated record earnings per share in the second quarter. Healthy US Domestic Package revenue, strong export volumes in International Package as well as improved performance in its Supply … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Case-Schiller: Home Prices Mixed

Posted: 26 Jul 2011 09:35 AM PDT

In May, home prices were mixed. The Case-Schiller Composite 10 City index (C-10) rose a slight 0.15% on a seasonally adjusted basis, and is down 3.61% from a year ago. The broader Composite 20 City index (which includes the cities in the C-10) edged down by 0.05% on the month and is down 4.49% from a year ago.

Prices for both indexes rose on a not-seasonally-adjusted basis (which is how you will probably and incorrectly see most of the reports presented). Of the 20 cities, nine were up on the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gallup-Healthways Report Well-Being

Posted: 26 Jul 2011 09:35 AM PDT

Healthways (NASDAQ:HWAY), the well-being enhancement company, and statistical research services provider Gallup recently announced the results of the monthly Gallup-Healthways Well-Being Index ("WBI") Report for June 2011. The overarching WBI measure remained relatively high at 66.7.
Among the WBI sub-components, the Emotional Health Index stagnated at 79.6 for the second month in a row. The Life Evaluation Index was virtually unmoved at 49.9, with 3.4% of Americans reporting that they were … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Boston Scientific

Posted: 26 Jul 2011 09:35 AM PDT

Boston Scientific (NYSE:BSX) is scheduled to release its second quarter fiscal 2011 earnings on Thursday, July 28, 2011 before the market opens. The company is expected to report EPS of 8 cents on revenue of $1.936 billion for the quarter, according to the Zacks Consensus Estimate.
Previous Quarter Highlights
Boston Scientific reported an EPS of 1 cent during the first quarter of fiscal 2011 compared to a loss of $1.05 per share in the year-ago period. However, the first quarter witnessed a $759 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Swiss Franc: The Downside Prevails

Posted: 26 Jul 2011 09:19 AM PDT

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


Australian Dollar: The Downside Prevails

Posted: 26 Jul 2011 09:19 AM PDT

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


Canadian Dollar: Under Pressure

Posted: 26 Jul 2011 09:19 AM PDT

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


Japanese Yen: Under Pressure

Posted: 26 Jul 2011 09:19 AM PDT

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


British Pound: Under Pressure

Posted: 26 Jul 2011 09:19 AM PDT

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


Euro: The Downside Prevails

Posted: 26 Jul 2011 09:19 AM PDT

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


Will The Price Of Your Morning Joe Drop?

Posted: 26 Jul 2011 09:18 AM PDT

Tuesday, July 26, 2011
Coffee is a prime example of a market that has gotten way ahead of itself, as many traders seem to have taken the idea that new crop Coffee would have the same supply-side issues as old crop Coffee and run with it. The current crop, barring weather issues, will likely alleviate any remaining supply tightness. Technically, it looks as though the December Coffee contract is close to confirming a head and shoulders top pattern. Despite these seemingly ominous signs, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Impressive Q2 For Anadarko

Posted: 26 Jul 2011 09:05 AM PDT

Independent oil and gas producer Anadarko Petroleum Corporation's (NYSE:APC) second quarter 2011 operating earnings of $1.14 per share surprised all by displaying an 18.8% rise from the Zacks Consensus Estimate of 96 cents. On a year-over-year comparison the company recorded significant growth from operating earnings of 49 cents reported in the second quarter 2010.
On a GAAP basis, Anadarko's net earnings of $1.08 per share in the second quarter improved significantly from the year-ago loss of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Reinsurance Lags Bottom Line Est.

Posted: 26 Jul 2011 09:05 AM PDT

Reinsurance Group of America Inc. (RGA) reported second quarter 2011 operating earnings of $1.72 per share, below the Zacks Consensus Estimate of $1.83. Earnings were, however, 6% above $1.63 earned in the year-ago quarter. Operating income was $128 million, up 5% from $122 million in the second quarter of 2010.
The year-over-year improvement was largely driven by the increase in net premiums written along with an increase in net investment income.
Adjusting for capital gains, derivatives and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


UK GDP And Other Reasons GBP/USD Should Reach 1.6550 In A Couple Of Weeks

Posted: 26 Jul 2011 08:57 AM PDT

GBP Rallies on GDP Data Showing 0.2% Growth
The UK GDP release that showed the economy gaining 0.2% held some caveats that helped make the release seem better than expected.

Therefore, despite the very soft growth reading, we saw the GBP rally against its key rivals. Coming into the report it was also expected that the reading may miss the consensus mark, and the fact that it did not was a relief.
Relief is a good word overall for the result, and certainly it is not a "triumph" though … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: NZDUSD Sees Some Profit Taking Before Interest Rate Decision

Posted: 26 Jul 2011 08:47 AM PDT

The NZDUSD has moved lower in NY trading with the price dipping toward the 38.2% of  the days range and the 200 bar MA  at the 0.86908  area. The move lower is off new 30 year highs for the pair. It seems the price makes new highs every day (and quite frankly, that may be not far from the truth)  The 100 bar MA (blue line in the chart above) is tight intraday resistance now. That level comes in at the 0.8714 level currently.
The move to new highs  is in the face … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Pool Marches Ahead On Higher Revenues

Posted: 26 Jul 2011 08:31 AM PDT

Pool Corp. (NASDAQ:POOL) reported second quarter 2011 earnings of $1.19, beating the Zacks Consensus Estimate of $1.15 per share as well as the year-ago quarter earnings of $1.05. The improvement was driven by solid top-line growth and margin expansion.
Net sales in the reported quarter jumped 9% year over year to $706.4 million, handily beating the Zacks Consensus Estimate of $685.0 million.
Inside The Headline Numbers
Overall Base business sales of Pool improved 8% year over year, including a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Disappointing Quarter From Masco

Posted: 26 Jul 2011 08:31 AM PDT

Masco Corporation (NYSE:MAS) reported earnings of 5 cents per share (excluding special items) in the second quarter of 2011, deteriorating significantly from 16 cents (excluding special items) in the year-ago quarter.
Reported earnings also missed the Zacks Consensus Estimate of 8 cents per share. The continuous decline in the construction of new homes was primarily responsible for the company's poor performance in the quarter.
Net sales dropped marginally to $2.02 billion from $2.05 billion in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Netflix Posts Mixed Second Quarter

Posted: 26 Jul 2011 08:21 AM PDT

Netflix Inc.(NASDAQ:NFLX) reported second quarter 2011 diluted earnings of $1.26 per share, surpassing the Zacks Consensus Estimate of $1.11 per share and increasing 57.5% from the prior-year quarter.
Earnings also topped management's guidance range of 93 cents to $1.15.
Quarter in Detail
Total revenue of $788.6 million increased 51.7% from the year-ago quarter but failed to beat the Zacks Consensus Estimate of $791.0 million. However, the total revenue was in the middle of management's guidance … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Cosi’s Sales And Comps Plunge In 2Q

Posted: 26 Jul 2011 08:21 AM PDT

Cosi Inc. (NASDAQ:COSI), a premium casual dining restaurant chain, recently reported its second quarter 2011 sales results. Total revenue, which comprises company-operated restaurant sales and franchise fees and royalties, decreased 9.2% year over year to $26.9 million. Sales were also below the Zacks Consensus Estimate of $28.0 million.
The decline was primarily attributable to the sale of 13 company-owned restaurants to a franchisee in second quarter 2010. As a result, company-operated … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Preview: Citrix Systems Inc.

Posted: 26 Jul 2011 08:21 AM PDT

A leading provider of virtualization, networking and cloud computing solutions, Citrix Systems Inc. (NASDAQ:CTXS) is slated to release its second quarter 2011 results on Wednesday, July 27, after the closing bell. The current Zacks Consensus Estimate for the third quarter is pegged at 46 cents per share, representing an annualized growth of 47.15%.
With respect to earnings surprises over the trailing four quarters, Citrixhas outperformed the Zacks Consensus Estimate in three of the last four … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Rent-A-Center Misses Estimates

Posted: 26 Jul 2011 08:21 AM PDT

Rent-A-Center Inc. (NASDAQ:RCII), one of the largest rent-to-own operators, recently delivered lower-than-expected second-quarter 2011 results. The quarterly earnings of 68 cents a share missed the Zacks Consensus Estimate of 72 cents, and fell 5.6% from the prior-year quarter.
The quarterly earnings met the lower end of management's guidance range of 68 cents to 74 cents a share. On a reported basis, including one-time items, earnings came in at 63 cents a share, down 12.5% from 72 cents earned … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Earnings Scorecard: Stryker

Posted: 26 Jul 2011 08:21 AM PDT

Orthopedic devices giant Stryker Corporation (NYSE:SYK) reported second-quarter fiscal 2011 adjusted (excluding acquisition-related charges) earnings per share of 90 cents, matching the Zacks Consensus Estimate.
Second Quarter Flashback
Profit (as reported) for the quarter slipped 3.1% on account of $43 million in charges associated company's acquisition of Orthovita and Boston Scientific's (NYSE:BSX) neurovascular business. Revenues spurted roughly 16% year over year to $2,045.5 million, ahead … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


GBP/CHF Seen With A Short-term Double Bottom

Posted: 26 Jul 2011 08:16 AM PDT

Prev: EUR/CHF, GBP/CHF, and USD/CHF Back from the Abyss (Video)
GBP/CHF

Double Bottom Confirmation:
- After sliding sharply to start the week,  the Sterling-Swissie pair is seen in the 1H chart with a double bottom with lows near 1.3060 and the broken ceiling near  1.3150 to form the pattern.
- The market has a chance to confirm the double bottom in the US session. What are some pending clues?
1) Market staying above 1.3115 2) RSI reading in 1H chart breaks above 60 and stays … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Natural Gas Futures Fall To 8-day Low On Moderating U.S. Forecast

Posted: 26 Jul 2011 08:11 AM PDT

Forexpros – Natural gas futures were down for a second day on Tuesday, falling to an eight-day low as forecasts that a heat wave in the U.S. Midwest will moderate reduced demand expectations for the fuel. <br /><br />On the New York Mercantile Exchange, natural gas futures for September delivery traded at USD4.301 per million British thermal units during U.S. morning trade, dropping 1.13%.<br /><br />It earlier fell as much as 1.5% to trade at USD4.278 per million … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – Dollar Stays Down Vs. Rivals On Debt Talks Impasse

Posted: 26 Jul 2011 08:04 AM PDT

Forexpros – The U.S. dollar remained lower against all of its major rivals on Tuesday, following the release of a flurry of mixed U.S. data and as talks on raising the U.S. debt ceiling remained deadlocked.<br /><br />During early U.S. trade, the greenback was down against the euro, with EUR/USD climbing 0.80% to hit 1.4491.<br /><br />Earlier in the day, Spain and Italy paid a higher price than a month ago to sell short-term debt, raising concerns that last … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: EURUSD Can’t Break Lower So The Shorts Cover…

Posted: 26 Jul 2011 07:54 AM PDT

…of course continued stalemate and uncertainty from Washington continue to help pressure the dollar. 

The EURUSD broke above the 100 bar MA on the 5 minute chart (see above) at the 1.4481 level and is now making new NY highs.  The next target is the 1.4518 level and high for the day at 1.4520. The 1.4518 level is the 61.8% of the move down from the May high (see chart below). This level attracted the sellers earlier today and should once again provide a level for profit taking to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Gold Futures Dip, U.S. Debt Concerns Support Prices

Posted: 26 Jul 2011 07:51 AM PDT

Forexpros – Gold futures eased down on Tuesday, as some mild profit taking emerged following the previous session&rsquo;s record high, while growing fears over a possible U.S. sovereign debt default and a weaker U.S. dollar supported prices. <br /><br />On the Comex division of the New York Mercantile Exchange, gold futures for October delivery traded at USD1,612.45 a troy ounce during U.S. morning trade, edging 0.2% … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – GBP/USD Unchanged Near 6-week High After U.S. Data

Posted: 26 Jul 2011 07:49 AM PDT

Forexpros – The pound was largely unchanged against the broadly weaker U.S. dollar on Tuesday, trading close to a six-week high, after the release of a string of mixed U.S. economic data.<br /><br />GBP/USD hit 1.6422 during early U.S. trade, the pair&rsquo;s highest since June 14; the pair subsequently consolidated at 1.6394, gaining 0.73%.<br /><br />Cable was likely to find support at 1.6120, the low of June 21 and resistance at 1.6440, the high of June … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – EUR/USD Holds Gains After Mixed U.S. Economic Data

Posted: 26 Jul 2011 07:42 AM PDT

Forexpros – The euro held gains against the U.S. dollar on Tuesday, trading close a three-week high, after briefly trimming gains following the release of mixed U.S. economic data.<br /><br />EUR/USD hit 1.4522 during early U.S. trade, the pair&rsquo;s highest since July 5; the pair subsequently consolidated at 1.4485, gaining 0.76%.<br /><br />The pair was likely to find support at 1.4324, Monday&rsquo;s low and short-term resistance at 1.4552, the high of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: USDCHF Coiling For A Move In A Narrow Trading Range

Posted: 26 Jul 2011 07:27 AM PDT

The USDCHF has a confined trading range today, with a ceiling intraday atthe 0.8038 level. Below a trendline comes up at the 0.8019 level. The confined range seems to suggest a coiling for a breakout move.
The burden of proof remains on the bulls to prove they can push the pair higher.  In the last 10 or so minutes, the price moved to test the ceiling and attempted to break higher but failed.  Without a move through the ceiling, any dip buyers will likely give up and be forced … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


US Data Round-Up: Confidence Surprises, But Not Enough To Help Beleaguered USD

Posted: 26 Jul 2011 07:27 AM PDT

US equities were sharply weaker in the NY morning, with S&P falling to 1326 following the release of housing, manufacturing and consumer confidence data. That brought about some risk aversion, which helped the USD to pare some of its sharpest losses but overall, the USD remained weaker as we progress through the NY session.

Here's a round-up of the data:

The S&P/Case Shiller 20-city House Price Index was down 4.5% on the year in May, extending the decline in housing prices this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. CB Consumer Confidence Rises Unexpectedly In July

Posted: 26 Jul 2011 07:12 AM PDT

Forexpros – U.S. consumer confidence rose unexpectedly in July, rebounding from a seven-month low, industry data showed on Tuesday.<br /><br />In a report, the Conference Board, a market research group said its index of consumer confidence rose to 59.5 in July from a reading of 57.6 in June, whose figure was revised down from 58.5. <br /><br />Analysts had expected the index to decline to 56.0 in July.<br /><br />The report showed that the Present Situation … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Even With A $8,200 Subsidy From The Government, Consumers In The U.K. Don’t Want Electric Cars

Posted: 26 Jul 2011 07:08 AM PDT

“According to figures published by research charity the RAC Foundation last week, the second quarter of the year saw just 215 cars bought under the government’s Electric Vehicle  grant scheme, which knocks £5,000 (about $8,200) off the price of a new electric car.

This contrasts with 465 taken up in the first three months of the year, and takes the total of cars bought under the scheme to 680, leaving the U.K.’s electric fleet still struggling to top 2,500 vehicles (out of a car fleet of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. New Home Sales Fall Unexpectedly In June

Posted: 26 Jul 2011 07:07 AM PDT

Forexpros – U.S. new home sales fell unexpectedly in June, official data showed on Tuesday.<br /><br />In a report, the U.S. Census Bureau said new home sales declined to a seasonally adjusted 312,000 units in June, down from 315,000 units in May, whose figure was revised down from 319,000 units.<br /><br />Analysts had expected the number of new home sales to rise to 320,000 units. <br /><br />The median sales price of new houses sold in June was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex Trading: GBPUSD Keeps The Bulls In Charge

Posted: 26 Jul 2011 06:59 AM PDT

The GBPUSD has rallied strongly today. The price move higher was helped by some favorable economic data (index of services was much stronger) which helped lead to a sharp spike higher. The correction off of that high of that last leg has recently breached below the 38.2% retracement level at the 1.6382 level. The 100 bar MA on the 5 minute chart is the next target on the downside. That level comes in at the 1.6375 level.   A move below that MA level will be needed … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Crude Oil Drops To 3-day Low Following Weak U.S. Housing Data

Posted: 26 Jul 2011 06:52 AM PDT

Forexpros – Crude oil futures erased gains on Tuesday, dropping to a three-day low following weaker-than-expected U.S. housing data, while mounting concerns over a possible U.S. sovereign debt default also weighed on prices.&nbsp; <br /><br />On the New York Mercantile Exchange, light, sweet crude futures for delivery in September traded at USD98.08 a barrel during U.S. morning trade, dropping … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


U.S. Dollar Falls Flat As Debt-Deadlock Rages On

Posted: 26 Jul 2011 06:36 AM PDT

The U.S. Dollar was offered lower across the major currencies in the Asian and European sessions as it remains abundantly clear that neither Democrats nor Republicans are willing to give way from their political ideologies, pushing the world's largest economy closer to the brink of default. The repercussions would be immense, as President Barack Obama noted last night at a press conference, shortly after the start of Asian trade on Tuesday.
President Obama was particularly stern in his … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Stalking The EUR/GBP At The Crossroad

Posted: 26 Jul 2011 06:35 AM PDT

Prev: The Euro's Setups Ahead of the EU Summit (7/20 Video)
EUR/GBP to Test Important Resistance Ahead of the EU Summit (7/21)
EUR/GBP

Sharp Retracement; Bullish Stance- The EUR/GBP in the 1H chart is seen in a bullish stance despite the current downswing that started in the European session and is stalling in the US session.
- The RSI kissed 70 and is now still above 40. The market turned the SMA from a bearish slope to a flat one, with price above it, also a bullish stance.
- A break … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


The One Thing The National Debt-Ceiling Has Never Done? Put A Ceiling On The Rising National Debt

Posted: 26 Jul 2011 06:33 AM PDT

Thomas Sowell writes today about “debt-ceiling chicken”:

“The national debt-ceiling law should be judged by what it actually does, not by how good an idea it seems to be. The one thing that the national debt-ceiling has never done is to put a ceiling on the rising national debt. Time and time again, for years on end, the national debt-ceiling has been raised whenever the national debt gets near whatever the current ceiling might be (see chart above, courtesy of today’s “The Gartman … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Forex – USD/CAD At Multi-year Low As Debt Woes Hit Greenback

Posted: 26 Jul 2011 06:30 AM PDT

Forexpros – The U.S. dollar fell to a more than three-and-a-half year low against its Canadian counterpart on Tuesday, as talks aimed at raising the U.S. debt ceiling remained deadlocked.<br /><br />USD/CAD hit 0.9407 during early U.S. trade, the pair&rsquo;s lowest since November 9, 2007; the pair subsequently consolidated at 0.9430, shedding 0.45%.<br /><br />The pair was likely to find support at 0.9200, the low of November 6, 2007 and resistance at 0.9512, the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


Auction-Rate Securities UPDATE: SEC Brief May Help ARS Investors

Posted: 26 Jul 2011 06:21 AM PDT

37 months and counting and still thousands of Americans holding untold billions of dollars in frozen auction-rate securities await the return of THEIR money.
The question of whether the injustice of all that went on in the ARS scandal might ever truly see the light of day seems to have long since been dismissed. Regrettably that fact would seem to mitigate a full understanding of the ARS mess and minimize the lessons that may otherwise have been learned by future generations. What a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


KEFI Minerals Eyes Near Term Production Possibilities At Tiouit Mine In Morocco

Posted: 26 Jul 2011 01:11 AM PDT

AIM listed mining exploration company Kefi Minerals (LON:KEFI) has moved a step closer to gold and silver production after agreeing the terms of a possible joint venture at a mine in the Eastern Anti-Atlas Mountains of Morocco. KEFI has reached an agreement with local company Roche Invest Sarl, which gives it a period of exclusivity over the Tiouit gold-copper mine and associated tailings retreatment project. The company is carrying out due diligence investigations in order to assess whether to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards


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