Wednesday, August 31, 2011

DailyMarkets.com - Apache Maintains Neutral Rec

DailyMarkets.com - Apache Maintains Neutral Rec

Apache Maintains Neutral Rec

Posted: 31 Aug 2011 11:30 AM PDT

We are maintaining our long-term Neutral recommendation on Apache Corporation (NYSE:APA) based on its balanced exposure to natural gas and crude oil, coupled with multi-year growth trends in reserve replacement and production.
These factors are, however, partially offset by gas/oil price volatility, geo-political risks and project timing delays.
In the recently completed second quarter 2011, Apache performed well with earnings per share, excluding one-time items, of $3.22, comfortably surpassing … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CMS Pushes For Green Energy

Posted: 31 Aug 2011 11:30 AM PDT

Consumers Energy, the major subsidiary of CMS Energy Corporation (NYSE:CMS) in line with its focus to boost green energy has begun accepting applications from business customers interested in developing their own renewable energy sources. Applications will be due on or before September 28, 2011. 
Consumers Energy had previously contracted to purchase 2,000 kilowatts of power from customers that installed photovoltaic solar panels at their homes or businesses. The utility’s current … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Reading The Market

Posted: 31 Aug 2011 11:18 AM PDT

Cusick’s Corner
The market is as hard to read as my wife is after driving six car pools (we have 5 kids), she comes through the door with a smile on her face at 8:30 pm and asks, “How’s your day been?” Holy Jack Nicolson! This market is in a happy place, but now we are at critical levels, retracing over 50% of our August 9, 2011 lows in the S&P 500. This is a battle line to be watched and the reason I would still keep my position sizing to ¼ or ½ normal (by the way, I scaled down when … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Down In U.S. Trade

Posted: 31 Aug 2011 11:15 AM PDT

Forexpros – The Australian Dollar was lower against the U.S. Dollar on Wednesday after the release of U.S. data on ADP Nonfarm Employment Change.

AUD/USD was trading at 1.0678, down 0.05% at time of writing.

The pair was likely to find support at 1.0463, Friday's low, and resistance at 1.0720, today's high.

Earlier in the day, official data showed that non-farm employment change in the U.S. rose less-than-expected to a seasonally adjusted 91K last month, from 109K in the preceding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hologic Stays Neutral

Posted: 31 Aug 2011 11:05 AM PDT

Recently, we reiterated our Neutral recommendation on Hologic (NASDAQ:HOLX) with a target price of $16.00.
During the third quarter of fiscal 2011, Hologic reported an adjusted EPS of 32 cents, in line with the Zacks Consensus Estimate and 2 cents above the year-ago quarter. Revenues were $451.1 million, an increase of 7.2% compared to the prior-year quarter and higher than the Zacks Consensus Estimate of $447 million.
Hologic's four segments – Breast Health, Diagnostics, Gyn Surgical and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

MedCath Selling Arizona Facility

Posted: 31 Aug 2011 11:05 AM PDT

Heath care services provider MedCath Corporation (NASDAQ:MDTH) has inked a definitive deal to jettison substantially all the assets of its Kingman, Arizona-based Hualapai Mountain Medical Center ("HMMC") to Kingman Regional Medical Center ("KRMC"). The sale also includes 18.6 acres of adjacent undeveloped land.
MedCath noted that it will close the 70-bed facility  by September 30, subject to regulatory requirements. The transaction is subject to the approval of MedCath shareholders and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Moves To New Session Lows. Greek Concerns Weigh.

Posted: 31 Aug 2011 10:48 AM PDT

Comments from EU Barroso saying that working on a new Greek program seems to be helping to pressure the pair. He adds that Greece must implement their reforms. There seems to be increased concerns about the implications of the Greece situation. Earlier today, there was a report on how Greek auditors were skeptical about debt dynamics (CLICK HERE).
The price is moving closer to the 100 day MA.  Last week the price moved away from the level  on its way to the highs at the 1.4548 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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

Posted: 31 Aug 2011 10:45 AM PDT

Forexpros – The U.S. Dollar was lower against the Japanese Yen on Wednesday after the release of U.S. data on ADP Nonfarm Employment Change.

USD/JPY was trading at 76.50, down 0.31% at time of writing.

The pair was likely to find support at 76.43, today's low, and resistance at 77.46, Friday's high.

Earlier in the day, official data showed that non-farm employment change in the U.S. rose less-than-expected to a seasonally adjusted 91K last month, from 109K in the preceding month whose … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Eni Talks With Libya, To Resume Ops

Posted: 31 Aug 2011 10:40 AM PDT

Italian energy giant, Eni SpA (NYSE:E) has signed a memorandum with the Libyan National Transitional Council ("NTC") aiming to resume its hydrocarbon operations as well as to strengthen cooperation in the country.
Per the agreement, both the parties will evaluate all possible conditions in order to ensure the resumption of Eni’s activities in Libya's oil and gas sector as soon as possible and to reinstate the Greenstream pipeline, bringing gas from the Libyan coast to Italy. The 310-mile … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

BP Starts Production At Serrette

Posted: 31 Aug 2011 10:35 AM PDT

BP Trinidad and Tobago (bpTT), a member of BP plc (NYSE:BP), commenced the production of natural gas from its 100% owned Serrette field, offshore Trinidad.
Average production of natural gas, from five wells, at Serrette is estimated at 400 million standard cubic feet a day (mmscfd) of gas and associated condensate. Production from Serrette is attached to bpTT's Cassia B hub through a 26-inch diameter, 32-mile long pipeline. Thereafter, it will be channelized to domestic as well as international … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

General Dynamics Gets Army Contract

Posted: 31 Aug 2011 10:35 AM PDT

General Dynamics C4 Systems Inc., a business unit of General Dynamics Corporation (NYSE:GD) won the Command Hardware Systems-4 contract. The fixed-price U.S. Army contract is worth $3.7 billion spread over a period of five years. Per the contract, General Dynamics would provide technology services, system integration, product-testing services, end user support and program management.
This also includes managing rugged local area networks, server platforms, communication gateways, routers, laptops, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Dollar Rebounds On Improved Factory Orders Report

Posted: 31 Aug 2011 05:30 AM PDT

08/31/11 A surprising rise in factory orders for July sparked a dollar rebound this afternoon against its higher-yielding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Today Is A Head-scratching Day”

Posted: 31 Aug 2011 10:30 AM PDT

08/31/11 Sunrise Securities’ Ben Willis discusses today’s trading session and expectations for the upcoming … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Chart Of The Day: Home Prices USA Vs. Canada

Posted: 31 Aug 2011 10:26 AM PDT

From today’s report on Canadian home prices for June:

“Canadian home prices in June were up 1.7% from the previous month, according to the Teranet–National Bank National Composite House Price Index. This rise took the index to a new high of 144.27 (June 2005 = 100). It was the third consecutive monthly increase exceeding 1% and the largest rise since August 2009. It was also the seventh consecutive monthly increase, coming after three straight monthly declines. As in April and May, prices … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hibbett Sports Stay At Outperform

Posted: 31 Aug 2011 10:05 AM PDT

We are maintaining a long-term ‘Outperform’ recommendation on Hibbett Sports Inc. (NASDAQ:HIBB) with a target price of $39.00 per share.
The company has a Zacks #2 Rank, implying a short-term ‘Buy’ rating on the stock.
Hibbett Sports operates sporting goods stores in small to mid-sized markets in the Southeast, Mid-Atlantic, and lower Midwest regions of the U.S. Hibbett is strongly focused toward small towns and counties with populations of 25,000 to 75,000.
The company has created a niche market … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Standard Motor To Repurchase Shares

Posted: 31 Aug 2011 10:05 AM PDT

Standard Motor Products, Inc. (NYSE:SMP) announced that its Board of Directors recently authorized the purchase of up to $5 million of its common stock under a stock repurchase program.
Stock will be purchased from time to time in the open market or through private transactions and can be suspended or discontinued if required. The company plans to fund the program with its revolving credit facility.
In the last reported quarter, adjusted earnings of Standard Motor stood at $11.4 million or 49 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Risk Reward Balances Alkermes

Posted: 31 Aug 2011 10:05 AM PDT

We are maintaining our Neutral recommendation on Alkermes, Inc. (NASDAQ:ALKS). Alkermes is a drug delivery biotech company which uses its proprietary specialized drug delivery technologies to develop drugs for the treatment of central nervous system (CNS) disorders, alcoholism and diabetes.
In August 2011, Alkermes disclosed financial results for the first quarter of fiscal 2012. Alkermes suffered a net loss (excluding special items but including stock-based compensation expense) of $0.04 per share … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Close Higher; Dax Up 2.50%

Posted: 31 Aug 2011 10:05 AM PDT

Forexpros – European stocks were up after the closing bell on Wednesday.

At the close of European trade, Germany's DAX rose 2.50%, London's FTSE 100 gained 2.39%, France's CAC 40 climbed 3.07% and the EURO STOXX 50 was up 2.81%.

Earlier in the day, official data showed that non-farm employment change in the U.S. rose less-than-expected to a seasonally adjusted 91K last month, from 109K in the preceding month whose figure was revised down from 114K.

Analysts had expected U.S. non-farm … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Oil Prices Flat On Equity Rise, Inventory Rise

Posted: 31 Aug 2011 04:45 AM PDT

08/31/11 Front month crude prices were trading mostly flat this afternoon following a surprise rise in inventory figures for last week while global equities remained in positive … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Joy Global Beats EPS, Ups Guidance

Posted: 31 Aug 2011 09:35 AM PDT

Joy Global Incorporation (NASDAQ:JOYG) reported adjusted earnings of $1.54 per share in the third quarter of fiscal 2011 ending July 29, compared with $1.11 per share in the year-ago quarter. The results of the company also surpassed the Zacks Consensus Estimate of $1.50 per share. Adjusted earnings increased 49% year over year to $163.5 million in the quarter under … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral On Harmony Gold

Posted: 31 Aug 2011 09:35 AM PDT

We are maintaining our Neutral recommendation on Harmony Gold Mining Company Ltd., (NYSE:HMY), which recorded a net loss of $0.01 per share in the fourth quarter of 2011 versus a profit of $0.08 last quarter.
However, revenues were up 22.0% sequentially and 25% year over year to $505 million, driven by a rise in gold price received, offset by a decrease in gold sold. With high quality assets and a large reserve base, Harmony has strong long-term prospects.
The company has significantly improved … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Updated Stock Scan On Most Overextended From 200d SMA

Posted: 31 Aug 2011 09:16 AM PDT

With the recent sharp downturn in the stock market, we have a new list of most "over-extended" and "under-extended" stocks from their 200 day Simple Moving Average.
Let's take a look at the current scan results of most extended S&P 500 stocks, starting with most over-extended:

To recap briefly, the purpose of this scan is to identify potential trading opportunities depending on your individual style of trading.
There are two schools of thought on this type of list:
1.  … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

ADP Sees 91K Job Gains In August

Posted: 31 Aug 2011 09:10 AM PDT

The Automatic Data Processing (NYSE:ADP) employment survey was slightly weaker than expected in August. It shows that private sector employment rose by 91,000, below consensus expectations for a 100,000 increase. The July numbers were also revised down slightly to a gain of 109,000 jobs from the initial report of a 114,000 gain.

On average, the ADP report does a fairly good job of predicting the private sector totals that the BLS will report on Friday, although in any given month it can be off … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Earnings Preview: Ciena Corp.

Posted: 31 Aug 2011 09:10 AM PDT

Ciena Corp. (NASDAQ:CIEN) is scheduled to release its third quarter 2011 results before the opening bell on September 1, 2011. We do not see any major variation in analysts' estimates in the run-up to the earnings release.
Prior-Quarter Recap
The company missed the Zacks Consensus Estimate on both top and bottom lines, primarily due to lower sales and lower margins.
Despite the miss, the company recorded year-over-year growth across all of its business segments driven by higher customer … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hope Springs Eternal

Posted: 31 Aug 2011 09:09 AM PDT

Government bond trading was buffeted by opposing forces midweek. The recent dashing of expectations evident in most economic reports during the last month has hardly healed. Pressure on yields remains to the downside but the growing hopes for a further reappraisal of the Fed's balance sheet is boosting expectations that the recent spate of weaker data will soon be countered by remedial action of some sort. Global short ends are already low and curves have flattened about as far as they can … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Brown-Forman Misses Estimate

Posted: 31 Aug 2011 09:05 AM PDT

Brown-Forman Corp.(BF.B) recorded fiscal 2012 first-quarter earnings of 81 cents a share compared with 76 cents a share in the year-ago quarter. However, earnings missed the Zacks Consensus Estimate of 83 cents a share. The robust increase in quarterly earnings was primarily driven by strong top-line growth and strong volume growth.
Quarterly Details
Brown-Forman’s net sales recorded a growth of 13.0% to $840.3 million from $744.9 million in the prior-year quarter. The growth was primarily … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

More Spills, More Trouble For Conoco

Posted: 31 Aug 2011 09:05 AM PDT

U.S. oil giant ConocoPhillips (NYSE:COP), already in the grip of growing public condemnation and law suits for its earlier oil spills off China's northern coast near Platform C of the 19-3 Oilfield in the Bohai Bay, has admitted to about seven new leaks to State Oceanic Administration (SOA).
The case of enormous oil spill in Penglai 19-3 oilfield is not yet over. The Chinese unit of ConocoPhillips confessed to the SOA that it had showed inefficiency by not detecting the possible leakage points … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral On Patriot Coal

Posted: 31 Aug 2011 09:05 AM PDT

Despite impressive second quarter 2011 results for Patriot Coal Corporation (NYSE:PCX), expectations of higher costs at the company's mining operations keep us on the sidelines. We maintain our Neutral recommendation on Patriot.
Patriot Coal's second quarter earnings of 13 cents per share beat our estimates of 10 cents per share. Patriot's bottom line results were slightly affected by costs, while robust sales volumes and prices led to the beat. The company's quarterly revenue of $632.2 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: GBPUSD Makes New Low, But Quickly Bounces

Posted: 31 Aug 2011 08:52 AM PDT

The GBPUSD has fallen and is making new lows for the week  below the 1.6253 level.  The fall in the last few hours was helped by the holding of the 100 hour MA (blue line in the chart above) and 38.2% retracement (see PRIOR POST).  The low has to extended 1.6249.  The price has moved back above the 1.6253 level and this should be a red flag for traders.  The quick failure may be a signal the downside is limited. A move below the 1.6253 is needed still to keep the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Positive Developments At Zynex

Posted: 31 Aug 2011 08:35 AM PDT

Brian Marckx, CFA
Positive Developments at Zynex

Zynex Inc. (ZYXI) has announced several positive developments over the last week which should work towards addressing certain issues that the company has faced.

Last Thursday Zynex announced that they signed a letter of intent to acquire NeuroDyne Medical Corp, a privately-held Cambridge, MA based manufacturer of medical devices for electromyography (sEMD) and autonomic nervous system monitoring.  NeuroDyne’s suite of products appear to … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

News Corp. Pressed With Allegations

Posted: 31 Aug 2011 08:35 AM PDT

On account of the recent phone hacking scandal, New York State’s comptroller discarded a $27 million contract involving the New York State Education Department and News Corporation’s (NWSA) education arm, Wireless Generation, The Wall Street Journal reported.
News Corporation is going through a rough patch with allegations of hacking and breach of privacy, including illegal access to the bank account details of the former Prime Minister Gordon Brown and pilfering the medical records of his … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Neutral On Dendreon

Posted: 31 Aug 2011 08:35 AM PDT

We have maintained a Neutral rating on Dendreon Corporation (NASDAQ:DNDN) with a target price of $13 per share after appraisal of the second quarter 2011 results.
Dendreon Corporation reported weaker-than-expected second quarter 2011 sales of $49.6 million of its potential blockbuster prostate cancer vaccine Provenge, though up from prior quarters. Revenues also disappointed the Zacks Consensus Estimate of $59 million in the second quarter.
Management surmised that though the physician interest in … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

FWLT Reiterates To Neutral

Posted: 31 Aug 2011 08:35 AM PDT

We recently maintained a Neutral recommendation on Zug Switzerland-based Foster Wheeler AG (NASDAQ:FWLT).
Operating through two segments, the Global Engineering and Construction Group (Global E&C Group), the company serves the following industries: Oil and Gas; Oil Refining; Chemical & Petrochemical; Pharmaceutical; Environmental; Power Generation; and Power Plant Operation and Maintenance.
We believe that world demand for energy will continue to grow over the long term and clients will … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Volatile Flows Continue As Month End Approaches

Posted: 31 Aug 2011 08:33 AM PDT

THe USDCHF is back down and looking to test the 0.7992 to 0.8000 support once again (SEE PRIOR POST).
The pair moved sharply lower in the London session, found support at the 200 hour MA (green line in the chart above) and rallied in the NY morning session. The rally back higher stalled at the 100 hour MA (blue line) and 38.2% of the days range (see chart). The price has rotated back down as London traders look to exit for the day.  Market remains volatile.
Support remains at the 0.7992 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – Dollar Broadly Lower After Flurry Of Mixed U.S. Data

Posted: 31 Aug 2011 08:20 AM PDT

Forexpros – The U.S. dollar remained broadly lower against its major counterparts on Wednesday, as investors digested the impact of a flurry of mixed U.S. data on expectations for further economic stimulus by the U.S. Federal Reserve.

During U.S. morning trade, the greenback edged higher against the euro, with EUR/USD slipping 0.10% to hit 1.4427.

In the euro zone, Germany's cabinet approved a draft for legislation to grant new powers to the region's bailout fund earlier Wednesday, but … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hopes Springs Eternal

Posted: 31 Aug 2011 08:16 AM PDT

Government bond trading was buffeted by opposing forces midweek. The recent dashing of expectations evident in most economic reports during the last month has hardly healed. Pressure on yields remains to the downside but the growing hopes for a further reappraisal of the Fed's balance sheet is boosting expectations that the recent spate of weaker data will soon be countered by remedial action of some sort. Global short ends are already low and curves have flattened about as far as they can … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hopes Springs Eternal

Posted: 31 Aug 2011 08:13 AM PDT

Government bond trading was buffeted by opposing forces midweek. The recent dashing of expectations evident in most economic reports during the last month has hardly healed. Pressure on yields remains to the downside but the growing hopes for a further reappraisal of the Fed's balance sheet is boosting expectations that the recent spate of weaker data will soon be countered by remedial action of some sort. Global short ends are already low and curves have flattened about as far as they can … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Moves Back Toward Break Level At 1.4426

Posted: 31 Aug 2011 08:09 AM PDT

The EURUSD broke below the 200 hour MA at the 1.4426 level earlier and the fall sent the pair to days lows at the 1.4394 level. Now the price has moved back higher and is testing the break level.  The bias to the market is more neutral on the sharp move higher. However, sellers against this level may give sellers the intraday advantage.  Action at this level will be telling for the rest of the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

AmSurg Lowers NSC Offer Price

Posted: 31 Aug 2011 08:05 AM PDT

The leading operator of practice-based ambulatory surgery centers (ASCs), AmSurg Corporation (NASDAQ:AMSG) recently revised its bid offer for acquiring Dallas-based ASC operator, National Surgical Care (NSC). As per the updated terms of the deal, Amsurg lowered the offer price to $135 million in cash from the original offer price of $173.5 million, as announced in April 2011.
AmSurg also agreed to pay an additional $7.5 million if NSC's earnings exceed the specified targets for fiscal 2012. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – GBP/USD Erases Gains After Flurry Of U.S. Economic Data

Posted: 31 Aug 2011 08:01 AM PDT

Forexpros – The pound erased gains against the U.S. dollar on Wednesday, pulling back from the daily high after official data showed that U.S. factory orders rebounded in July, boosting demand for the greenback.

GBP/USD pulled back from 1.6334, the daily high to hit 1.6278 during U.S. morning trade, slipping 0.12%.

Cable was likely to find support at 1.6211, the low of August 26 and a two-week low and resistance at 1.6422, Tuesday's high.

The Commerce Department said orders for … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Global Equities Rise Despite Weak Global Economic Data & Angela Merkel Approves Eurozone Bailout Expansion

Posted: 31 Aug 2011 08:00 AM PDT

08/31/11 The latest in news, commentary, and information on what’s moving the US equities markets just prior to the NYSE opening bell includng: a jump in global equities & Angela Merkel approving the eurozone bailout … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Crude Oil Retreats From 4-week High After Mixed U.S. Supply Data

Posted: 31 Aug 2011 07:55 AM PDT

Forexpros – Crude oil futures fluctuated between small gains and losses on Wednesday, retreating from a four-week high after a government report showed that U.S. crude supplies rose more-than-expected last week, while gasoline inventories fell significantly.

On the New York Mercantile Exchange, light sweet crude futures for delivery in October traded at USD88.80 a barrel during U.S. morning trade, easing down 0.05%.

It earlier rose as much as 0.7% to trade at USD89.44 a barrel, the highest … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

A Whippy USD/CAD Retraces Sharply After Cracking 0.9740 Support

Posted: 31 Aug 2011 07:54 AM PDT

Previous: USD/CAD Sees Sharp Reaction at the 0.9740 Support (8/29)
USD/CAD

Since the rally from USD/CAD, the 1H chart shows an ABC correction where A=C.
After this we started to make lower highs and lows and eventually after a break below 0.9770, we came down sharply, and cracked the 0.9740 support, going to 0.9725.
This volatility came after the Canadian GDP data that showed a contracting Q2, but growth in June.
The 1H chart shows a bullish divergence, and the market resolving this … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: USDCHF Bumps Against Resistance Now

Posted: 31 Aug 2011 07:50 AM PDT

The USDCHF found support against the 200 hour MA earlier (SEE PRIOR POST) and has now found resistance against the 100 hour MA. That level comes in at the 0.8086 area.  The 38.2% of the move down from yesterday's high comes in at the 0.8083.  Traders should now use these technical resistance levels to take profit/sell.  A move above the level should trigger additional … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – EUR/USD Extends Losses After U.S. Factory Orders Rebound

Posted: 31 Aug 2011 07:44 AM PDT

Forexpros – The euro extended losses against the U.S. dollar on Wednesday, falling to a fresh daily low after official data showed that U.S. factory orders rebounded in July.

EUR/USD hit 1.4398 during U.S. morning trade, the daily low; the pair subsequently consolidated at 1.4407, shedding 0.23%.

The pair was likely to find support at 1.4330, the low of August 26 and resistance at 1.4532, Tuesday's high.

The Commerce Department said orders for manufactured goods increased 2.4% after … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Natural Gas Rallies Over 2% As Traders Monitor Storm Activity

Posted: 31 Aug 2011 07:32 AM PDT

Forexpros – Natural gas futures were up sharply on Wednesday, rallying to a six-day high as mounting fears over a disruption to U.S. supplies in the Gulf of Mexico boosted prices.

On the New York Mercantile Exchange, natural gas futures for October delivery traded at USD3.996 per million British thermal units during U.S. morning trade, surging 2.04%.

It earlier rose as much as 2.3% to trade at USD4.011 per million British thermal units, the highest price since August 23.

The U.S. National … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Another Company Moves Production Back To U.S.

Posted: 31 Aug 2011 07:22 AM PDT

Back to the USA: Manufacturing Makes a Comeback

On Bloomberg TV, CEO Lonnie Kane of U.S.-based women’s clothing company Karen Kane talks about the company’s decision to reduce the amount of clothing it produces in China from 50% to 20%, and increase its U.S. manufacturing from 50% to 80%.

Reason? Labor and inputs prices are rising rapidly and erratically in China, making production costs there too unpredictable compared to producing domestically, where costs are much more controlled and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

America’s Pro-Freedom Resistance Movement? Taking Back The Streets With Lemonade Day

Posted: 31 Aug 2011 06:29 AM PDT

America’s “Lemonade Spring”?

From the website of the organization “Lemonade Day”:

“Entrepreneurship is the past, present and undoubtedly the future of our nation, for the rich and the poor alike. And no organization supports this concept more than Lemonade Day. For this reason, we wish to partner with every city in America on Lemonade Day. Together we can provide the opportunity for every child in America to build their own "American Dream" through Lemonade Day. The time is now to come … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Wall Street Advances, Dow Positive For 2011

Posted: 30 Aug 2011 09:00 PM PDT

08/31/11 US stocks started higher, with the major equity averages up by over 1%. Jobs data from the ADP and Challenger, Gray & Christmas were digested, while Fed stimulus hopes lifted … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards
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