Friday, July 13, 2012

DailyMarkets.com - Bottom May Have Formed In Natural Gas

DailyMarkets.com - Bottom May Have Formed In Natural Gas

Bottom May Have Formed In Natural Gas

Posted: 13 Jul 2012 08:49 AM PDT

Friday, July 13, 2012
The tightening of the bull spreads in Natural Gas futures for the first time in months may be a sign that traders believe the worst of the bear market sell-off may have already occurred. However, we still need to see prices close above 3.000, and more importantly, above the 200-day moving average to help confirm the end of the 4-year-old bear market.
Fundamentals
The nearly 4-year-long bear market in Natural Gas futures may be near an end, or at least historic lows may now … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

The Law Of Unintended Consequences Confirmed

Posted: 13 Jul 2012 08:32 AM PDT

After reformulation in 2010, OxyContin use dropped from 47.4% to 30%, but heroin use nearly doubled.

From the article “Effect of Abuse-Deterrent Formulation of OxyContin,” published in the current issue of the New England Journal of Medicine:  

“In August 2010, an abuse-deterrent formulation of the widely abused prescription opioid OxyContin was introduced. The intent was to make OxyContin more difficult to solubilize or crush, thus discouraging abuse through injection and inhalation. We … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

US Stocks Breathe Sigh Of Relief On Earnings, Data

Posted: 13 Jul 2012 08:13 AM PDT

07/13/12 Wall Street soared on relief that global economic data and earnings reports came in line with estimates. The preliminary July reading of the University of Michigan consumer sentiment dipped to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Steadies At $86

Posted: 13 Jul 2012 02:53 AM PDT

07/13/12 As speculation grows over possible stimulus measures for China after it posted its slowest expansion in three years, front month crude prices followed the trend upward Friday … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Still Waiting For A Triangle Breakout In Gold

Posted: 13 Jul 2012 07:51 AM PDT

The current consolidation pattern in gold continues, yet the boundaries are narrowing ahead of an expected breakout from the structure.
Let's start with the larger Weekly Chart picture and then highlight the key levels to watch going forward:

A simple price chart reveals the primary uptrend that was interrupted with a year-long retracement during 2008 with a "Bull Flag" pattern.
The early 2009 breakout set the stage for a resumption of the ongoing uptrend, and price traveled from $800 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Still At 2-year Lows Against Dollar

Posted: 13 Jul 2012 02:50 AM PDT

07/13/12 The euro remained at two-year low levels against the dollar Friday morning following Moody’s downgrade on … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

UPDATE: Aussie, Euro Surge After Quiet Performance Overnight

Posted: 13 Jul 2012 07:43 AM PDT

Fundamental Headlines
- Geithner Proposes LIBOR Changes to Bank of England in 2008 – Bloomberg
- Italy Borrowing Costs Fall at Debt Sale after Downgrade – Bloomberg
- Producer Prices Unexpectedly Rise in June – Reuters
- JPMorgan Second-Quarter Profit Fell 8.7% – WSJ
- Spanish Bank Borrowing from ECB Surges – WSJ
Asian/European Session Summary
Surprising price action in the overnight as the second quarter Chinese growth figure came in worse than consensus estimates (7.6% annualized … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

From Penn State To Wall Street: A Leadership Crisis

Posted: 13 Jul 2012 07:35 AM PDT

I have a very empty feeling this morning.
As I try to collect my thoughts and put forth a reasoned commentary about developments on Wall Street and the impact on our global economy, my mind keeps reverting to the pain emanating from State College, Pennsylvania. My heart breaks for the individuals and families directly impacted by the tragic situation surrounding Penn State.
Who knows when the monster known as Jerry Sandusky first started to prey upon young innocent children? We may never fully … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Global Stocks Higher On Chinese Stimulus Speculation

Posted: 13 Jul 2012 02:25 AM PDT

07/13/12 Global stocks rose following China's slowest expansion in three years which fueled speculation of possible stimulus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: London Taxi Hotel

Posted: 13 Jul 2012 07:06 AM PDT

“Hail-a-Hotel”

In preparation for the summer Olympics, London is getting creative.

David Weekes, a full-time cab driver has transformed his cab into a hotel for one, available to rent for £50 (US$78.50) per night. The taxi comes with a “memory foam” mattress, pillow, duvet, a bedside lamp and a teddy bear.  It also offers a solar-powered refrigerator, a radio, an iPad, and camping chairs and a portable table on request.  But Weekes does have two rules: no smoking and no … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Worried About Higher Taxes? Take Action

Posted: 13 Jul 2012 06:00 AM PDT

About 1.25 million Americans would pay more in taxes next year if President Barack Obama's latest plan is approved. The White House wants to allow taxes to rise for households making more than $250,000 by boosting the top marginal tax rates to 36 and 39.6 percent (currently, it's 33 and 35 percent).
In an environment where government policy favors higher taxes, investments that lower a tax bill can look attractive. I asked John Derrick, portfolio manager of U.S. Global Investors' tax … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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