Wednesday, October 5, 2011

DailyMarkets.com - Forex Trading: USDCNH ST Negative

DailyMarkets.com - Forex Trading: USDCNH ST Negative

Forex Trading: USDCNH ST Negative

Posted: 05 Oct 2011 05:41 PM PDT

On the chart below we see the USDCNH pair has moved through all the daily moving averages and is approaching former trendline resistance and it will be interesting to see if that level holds and the pair rebounds and as the 21day moves up toward the 100day.

 
However, from an hourly perspective we see a short-term negative as the 21hr mavg has ripped below both the 100 and 200 hr … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usdhkd Testing Daily Support

Posted: 05 Oct 2011 05:41 PM PDT

usd/hkd is testing the bottom of this wedge again. We need to see it close under this line to give a bearish signal in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The $709 Lunch – S&P 500 Futures

Posted: 05 Oct 2011 05:19 PM PDT

I did not have any time this morning before work to do more than just take a peak at a few charts and hit the road running. But lunch time was better so I decided to sleuth around for something to trade while I ate my lunch.

Click on the chart to ENLARGE

With less than an hour of free time to work with I decided to take a good hard look at some futures contracts and ended up on the E-mini S&P 500 (ES).

After a short while what appeared to be a promising negative divergence … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Edges Higher In Early Asian Trade

Posted: 05 Oct 2011 05:14 PM PDT

Forexpros –
Forexpros – Gold futures traded higher in Asian trade Thursday, as investor appetites for safe-havens remained in play in light of continued uncertainty over the fate of Europe's sovereign debt crisis.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,644.55 a troy ounce during early Asian trade, adding 0.07%, after hitting a low of USDS1,637.45.

Earlier Wednesday, the Financial Times reported that European bank … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Steve Jobs 1955-2011

Posted: 05 Oct 2011 05:01 PM PDT

The message above is from the Apple website, accessed from the Wikipedia listing for Steve Jobs, which has already been updated to reflect the announcement minutes ago that Steve Jobs has died at age 56.  … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDSGD Weekly Resistance

Posted: 05 Oct 2011 04:40 PM PDT

The USDSGD pair moved earlier this week through the 50% retracement of the move from May 2010 and tested the 100 week moving average before falling back below the 50% level for now. The pair has not broken through the aforementioned indicator since August … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Falls In Early Asian Trade

Posted: 05 Oct 2011 04:35 PM PDT

Forexpros –
Forexpros – The euro moved lower against the U.S. dollar in Asian trade Thursday, following a better than expected U.S. labor release, and reports that European finance officials were moving to ease the effects of a potential Greek default.

EUR/USD hit 1.3336 in early Asian trade, the pair's lowest since Tuesday; the pair subsequently consolidated at 1.3353, falling 0.04%.

The pair was likely to find support at 1.3089, the low of January 13, and resistance at 1.3369, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down During The Asian Session

Posted: 05 Oct 2011 04:10 PM PDT

Forexpros – The Euro was lower against the U.S. Dollar on Wednesday.

EUR/USD was trading at 1.3345, down 0.03% at time of writing.

The pair was likely to find support at 1.3147, Tuesday's low, and resistance at 1.3601, Friday's high.

Meanwhile, the Euro was down against the British Pound and the Japanese Yen, with EUR/GBP shedding 0.05% to hit 0.8630 and EUR/JPY falling 0.04% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of America, Citi Fees Add To The Squeeze On Consumers

Posted: 05 Oct 2011 03:58 PM PDT

10/05/11 Bank of America and Citibank are raising monthly fees for consumers, to combat losses in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Resistance

Posted: 05 Oct 2011 03:36 PM PDT

Cusick’s Corner
Resistance — there’s been an impressive bounce but there is a ton of upside resistance at the 1141 level on the S&Ps, and I want to see this level broken before I position to the upside with any conviction. I would call this prudence or respect. I did like the ADP report, but there is just too much fog around the EU’s next actions concerning the bailouts (aka TARP EU). Watch the Claims data out pre-market, if they come in below the psychological 400K level, the market might … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Down In Asian Trade

Posted: 05 Oct 2011 03:35 PM PDT

Forexpros – The New Zealand Dollar was lower against the U.S. Dollar on Wednesday.

NZD/USD was trading at 0.7662, down 0.02% at time of writing.

The pair was likely to find support at 0.7470, Tuesday's low, and resistance at 0.7702, Friday's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.14% to hit 1.2587 and EUR/NZD falling 0.04% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

BoE And ECB Rate Announcement, US Jobless Claims, Chain Store Sales; German Factory Orders, Swiss CPI

Posted: 05 Oct 2011 03:20 PM PDT

10/05/11 The central bank rate announcements from the ECB and BOE will be closely watched. More US jobs data will be released on Thursday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USDSGD Approching 200hr MAVG

Posted: 05 Oct 2011 02:36 PM PDT

The USDSGD pair broke through 100hr moving average on the back of a bid to Asian currencies amid speculation that the Fed will boost the stimulus. On the chart below we see the pair approaching the 200 hr moving average and below the 50% retracement of the latest move from the end of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Yahoo Was The Hottest Stock On Wednesday

Posted: 05 Oct 2011 02:33 PM PDT

( click to enlarge )

Yahoo! Inc. (NASDAQ:YHOO) shares surged Wednesday on reports that the giant Microsoft may be an interested buyer. Reuters reported this afternoon that Microsoft, which made an unsuccessful bid for Yahoo in 2008, may seek a partner to acquire the Sunnyvale-based Internet pioneer. Yahoo is reportedly preparing financial data for prospective buyers, which Reuters says includes Menlo Park-based Silver Lake Partners, Chinese e-commerce company Alibaba. CEO Jack Ma said just last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TC Pipelines Stays Neutral

Posted: 05 Oct 2011 02:25 PM PDT

We are maintaining our Neutral recommendation on pipeline operator TC Pipelines L.P. (NASDAQ:TCLP) owing its impressive asset portfolio and healthy financial profile, partially offset by the weak macro environment and operational hindrances.
The partnershipenjoys stakes in natural gas transportation assets like the Northern Border Pipeline, which generate stable, recurring and low-risk earnings and cash flows. Northern Border's market share position enables TC Pipelines to maintain strong … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Two Novartis Drugs Cleared In Japan

Posted: 05 Oct 2011 02:05 PM PDT

Swiss pharma giant Novartis (NYSE:NVS) received a shot in the arm with two of its popular drugs receiving regulatory approval in Japan. The Ministry of Health, Labor and Welfare (MHLW) cleared Gilenya for the prevention of relapse and delay in progression of physical disability in adults with multiple sclerosis (MS) and Ilaris for the treatment of cryopyrin-associated periodic syndrome (CAPS) in both adults and children.
Both the drugs are already approved in more than 50 countries including the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Varian Retained At Neutral

Posted: 05 Oct 2011 02:05 PM PDT

We reaffirm our Neutral rating on oncology and X-Ray products company Varian Medical Systems (NYSE:VAR).
The company posted third-quarter fiscal 2011 earnings per share from continuing operations of 83 cents, matching the Zacks Consensus Estimate and exceeding the corresponding year-ago earnings of 74 cents. Profit climbed roughly 7% year over year, benefiting from rising sales of both oncology systems and X-Ray products.
Revenues surged 12% to $649 million, beating the Zacks Consensus Estimate of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Franklin Resources Rec Unchanged

Posted: 05 Oct 2011 02:05 PM PDT

We maintain our Neutral recommendation on Franklin Resources Inc. (NYSE:BEN) based on strong fiscal third-quarter 2011 results. The results outpaced the Zacks Consensus Estimate and were ahead of the prior-year quarter as well as prior quarter's earnings.
In August, Franklin reported fiscal third-quarter 2011 earnings of $2.26 per share, surpassing the Zacks Consensus Estimate of $2.16. Earnings beat the prior-year quarter figure of $1.58 per share and prior-quarter earnings of $2.25. Quarterly … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow Extends Its Rally, Jumps 131 Points On European Bank Optimism And Strong Economic Data

Posted: 05 Oct 2011 02:00 PM PDT

10/05/11 NYFP’s Closing Bell Market Monitor: The Dow Jones closed out another trading session with strong gains as EU policymakers pledged to strengthen the banking sector. Meanwhile, M&A reports were circulating … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down At The End Of U.S. Session

Posted: 05 Oct 2011 01:55 PM PDT

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

EUR/USD was trading at 1.3342, down 0.06% at time of writing.

The pair was likely to find support at 1.3147, Tuesday's low, and resistance at 1.3601, Friday's high.

Earlier in the day, official data showed that non-farm employment change in the U.S. rose more-than-expected to a seasonally adjusted 91K last month, from 89K in the preceding month whose … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Reluctant To Change

Posted: 05 Oct 2011 01:45 PM PDT

If there was ever any question as to why there’s no real impetus for cutting government spending, the following post from Real Time Economics, “Nearly Half of Households Receive Some Government Benefit,” offers one answer:
Families were more dependent on government programs than ever last year.
Nearly half, 48.5%, of the population lived in a household that received some type of government benefit in the first quarter of 2010, according to Census data. Those numbers have risen since the middle … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Down Toward The End Of U.S. Session

Posted: 05 Oct 2011 01:40 PM 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 76.77, down 0.05% at time of writing.

The pair was likely to find support at 76.50, Friday's low, and resistance at 77.27, Monday's high.

Earlier in the day, official data showed that non-farm employment change in the U.S. rose more-than-expected to a seasonally adjusted 91K last month, from 89K in the preceding month whose … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JAKKS Expands Monsuno Toy Supply

Posted: 05 Oct 2011 01:35 PM PDT

JAKKS Pacific Inc. (NASDAQ:JAKK) has recently inked exclusive agreements to expand the global distribution of toys based on Monsuno, with Planet Fun for the New Zealand territory and Prima Toys for the South African territory. Earlier, the company announced inclusive agreements with Giochi Preziosi for Pan European toy distribution and Hunter Products for Australia.
The company has been taking initiatives to strengthen its international business. Ventures in the U.K., Spain and France are gaining … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Motorola Solutions Downgraded

Posted: 05 Oct 2011 01:35 PM PDT

We downgrade our recommendation on Motorola Solutions Inc. (MSI) to Neutral based on its current valuation, which soared nearly 34% last year. Moreover, a recent Wall Street Journal report stated that the U.S. regulatory authorities are at present investigating whether the company adopted any unfair means to do business in the European regions.
The U.S. Justice Department and the Securities and Exchange Commission have asked the company to provide information regarding transactions in seven … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down Toward The End Of U.S. Session

Posted: 05 Oct 2011 01:25 PM PDT

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

EUR/USD was trading at 1.3347, down 0.02% at time of writing.

The pair was likely to find support at 1.3147, Tuesday's low, and resistance at 1.3601, Friday's high.

Earlier in the day, official data showed that non-farm employment change in the U.S. rose more-than-expected to a seasonally adjusted 91K last month, from 89K in the preceding month whose … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Markets Close Higher; Dow Jones Up 1.21%

Posted: 05 Oct 2011 01:15 PM PDT

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

At the close of U.S. trade, the Dow Jones Industrial Average rose 1.21%, the S&P 500 index gained 1.79%, while the Nasdaq 100 index climbed 2.52%.

Earlier in the day, official data showed that non-farm employment change in the U.S. rose more-than-expected to a seasonally adjusted 91K last month, from 89K in the preceding month whose figure was revised down from 91K.

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

Remain Bullish On Whole Foods

Posted: 05 Oct 2011 01:05 PM PDT

Being one of the leading natural and organic foods supermarkets, Whole Foods Market Inc. (WFM) with a strong brand image, and marketing and merchandising expertise, offers investors one of the strongest growth profiles in the industry. The stock is poised to surge once the economy revives and demand for healthier and natural food improves.
The Driving Forces
The stringent cost-control measures, effective inventory management, and improved store-level performance are driving earnings growth. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

AIR Downgraded To Neutral

Posted: 05 Oct 2011 12:55 PM PDT

We recently downgraded our recommendation on AAR Corp. (NYSE:AIR) from Outperform to Neutral. The downgraded rating is backed by the risk of lowering U.S defense budget toward military flight operations, which is anticipated to curtail the company's prospects and financial results.
Moreover, a highly capital intensive industry, in which the company operates, depends on the continuing availability of debt and equity capital. The risk of an inability to obtain financing on favorable terms appears … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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

Posted: 05 Oct 2011 12:55 PM PDT

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

GBP/USD was trading at 1.5463, down 0.16% at time of writing.

The pair was likely to find support at 1.5341, Tuesday's low, and resistance at 1.5666, Friday's high.

Earlier in the day, official data showed that non-farm employment change in the U.S. rose more-than-expected to a seasonally adjusted 91K last month, from 89K in the preceding month … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Daily FTSE Technical Update

Posted: 05 Oct 2011 06:02 AM PDT

By ForexMansion.com
by, James A. Hyerczyk
Tuesday's intraday closing price reversal bottom was confirmed on Wednesday, setting a bullish tone for the index. The initial rally from the bottom was most likely short-covering since there was no immediate follow-through, but the slight setback proved to be attractive for fresh buyers who took advantage of the weakness and drove the market higher.

The most interesting development on Wednesday was the presence of buyers. Not only did they show up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Daily Indices Update: US2000

Posted: 05 Oct 2011 06:02 AM PDT

By ForexMansion.com
by, James A. Hyerczyk
After forming a solid support base near 602.00 on the 240-minute chart, the US2000 embarked on a strong surge to the upside. Following a reversal bottom and a solid follow-through that was likely triggered by short-covering, the index CFD solidified near 642.00 before making another surge. This action suggests that traders were willing to buy strength rather than wait for a pull-back.

The overall quality rating is 7-bars. The initial trend which … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For ETF Trading On Thursday, October 6, 2011

Posted: 05 Oct 2011 05:05 AM PDT

By ForexMansion.com

The Trend Trader for ETFs
For Trading On Thursday, October 6, 2011

The top 40 ETFs by net assets
In alphabetical order by symbol

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AGG – iShares Lehman Aggregate Bd Fd
109.63
− 0.34
110.04
109.97

Bearish

BND – Vanguard Total Bond Market ETF
83.31
− 0.43
83.69
83.72

Bearish

DBC – DB Commodity Index Tracking Fd
25.93
+ 1.41
25.63
26.26

Neutral

DIA – SPDR DJ Industrial Average … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Stock Trading On Thursday, October 6, 2011

Posted: 05 Oct 2011 05:05 AM PDT

By ForexMansion.com

The Trend Trader for the Dow 30 Stocks
For Trading On Thursday, October 6, 2011

In alphabetical order by symbol

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AA – Alcoa Inc
9.37
+ 2.74
9.08
10.00

Neutral

AXP – American Express Company
43.41
− 0.05
43.37
46.14

Neutral

BA – Boeing Co
59.96
+ 1.39
59.06
61.60

Neutral

BAC – Bank of America Corporation
5.77
+ 0.17
5.67
6.36

Neutral

CAT – Caterpillar Inc
74.26
+ … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Forex Trading On Thursday, October 6, 2011

Posted: 05 Oct 2011 05:05 AM PDT

By ForexMansion.com

The Trend Trader for Forex
For Trading On Thursday, October 6, 2011

THE BIG SIX

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

AUDUSD – Aust Dollar / US Dollar
0.9658
+ 0.97
0.9568
0.9755

Neutral

EURUSD – Euro / US Dollar
1.3345
− 0.08
1.3286
1.3480

Neutral

GBPUSD – British Pound / US Dollar
1.5461
− 0.19
1.5457
1.5577

Neutral

USDCAD – US Dollar / Canadian Dollar
1.0406
− 1.03
1.0509
1.0380

Neutral

USDCHF – US Dollar … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Trend Trader For Futures Trading On Thursday, October 6, 2011

Posted: 05 Oct 2011 05:05 AM PDT

By ForexMansion.com

The Trend Trader for Futures
For Trading On Thursday, October 6, 2011

INDICES

Close
%
Change

3×1

7×5
Minor
Trend
Major
Trend
Trend Reading

S&P 500 – Dec ESZ1
1135.00
+ 1.93
1110.22
1145.83

Neutral

Dow Jones – Dec YMZ1
10838
+ 1.46
10678
10938

Neutral

Nasdaq – Dec NQZ1
2167.50
+ 2.56
2111.19
2180.67

Neutral

Russell – Dec TFZ1
652.80
+ 2.06
631.73
657.23

Neutral

INTEREST RATES

US T-Bond – Dec ZBZ1
143-18
− … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Daily Commodities Update: Silver

Posted: 05 Oct 2011 03:03 AM PDT

By ForexMansion.com
By Jonah S. Ford
Silver futures firmed in Wednesday's trading session on a weaker dollar and overall rebound in the precious metals complex. After briefly dropping below $30 per ounce again this week, speculative buyers appear to be buying this long term support level in anticipation of a move higher.

The sharp sell-offs have found quick retracements higher to form a volatile but well contained trading range between $28.50 and $31.50 per ounce. This price action has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Where Will The Market And Gold Go From Here?

Posted: 04 Oct 2011 10:00 PM PDT

While the S&P 500 Index hovered near bear market territory on Tuesday before reversing course, I was at the New York Stock Exchange to discuss volatility and gold with Bill Griffeth on CNBC.
Sue Herera, Tobias Levkovich (from Citi), and I talked with Bill about expectations, fundamentals and technicals in the market, addressing what was on everybody's mind: Will stocks go lower? I don't believe they will, based on historical data and understanding the difference between what's normal … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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