Update Daily Investment News

Elliott Wave: Correction Signs of 2000, 2007 Happening Now: Robert Prechter
By: CNBC.com staff
Robert Prechter, president of Elliot Wave International, reportedly predicted the 1987 stock market meltdown.Now he's warning that we're in a new bear market — and this might be investors' last chance to get out while the Dow is in quadruple digits. Prechter explained his thinking to CNBC.

http://www.cnbc.com/id/35086130

Asia Stocks Rally Will Resume, Goldman Sachs, Credit Suisse Say
(Bloomberg) -- Asia’s stock market rally will resume after a “correction,” offering investors opportunities to increase holdings, Goldman Sachs Group Inc. and Credit Suisse Group AG said. Goldman Sachs will start “extending a toe into markets” and Credit Suisse advised investors to start buying shares when the MSCI Asia excluding Japan Index falls to about 420, or 7.2 percent below yesterday’s close. The gauge has lost 9.5 percent from an 18-month high on Jan. 11.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=apeDdwZoGvsI

S&P 500 Is on ‘Precipice,’ May Extend Drop: Technical Analysis
(Bloomberg) -- The Standard & Poor’s 500 Index may extend its decline from the peak of the rally to 9.6 percent if a key support level is breached, according to the head of technical analysis at Mint Equities Ltd. The S&P 500 closed at 1,092.17 yesterday, 5 percent below the 15-month high of 1,150.23 on Jan. 19. If the benchmark gauge for U.S. equities breaches the level at 1,087 to 1,091, the next support is at 1,040, 4.8 percent below yesterday’s close, according to Mint’s Geoff Wilkinson.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aulBQGy08VKs

Emerging-Market RSI Says Buy as Stocks Drop: Technical Analysis
(Bloomberg) -- Developing-nation stocks are poised to rally from the longest losing streak in a year as a momentum indicator signals gains for the first time since October 2008, said Johannesburg-based Imara S.P. Reid. The MSCI Emerging Markets Index’s 14-day relative strength index, or RSI, sank to 27.05 today, the lowest level since a reading of 22.3 on Oct. 27, 2008, when the steepest bear market in the index’s history ended. The RSI identifies possible turning points in indexes or securities by measuring the degree that gains and losses outpace each other in a given time period. A reading below 30 signals a possible rally, according to technical analysts.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=apjupe7i5UG8

Pound May Puncture Range, Rally Versus Yen: Technical Analysis
(Bloomberg) -- Sterling may appreciate at least 15 percent against the yen after trading in a range since the end of August following a rally from a record low, according to Citigroup Inc., citing historical patterns. Over the past five months, the pound has formed descending peaks in the range of 139.32 yen to 153.26. An increase beyond the upper end would indicate “a push towards at least 167 is in the cards,” Citigroup technical analysts led by Tom Fitzpatrick in New York wrote today in a note to clients.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2.8rNmTP6yY

The Bull Market has Turned, Take Profits: Investor
By: Robin Knight CNBC Assistant Web Producer
After correctly calling the stock market rebound after the lows of March 2009, Michael Browne, portfolio manager from Sofaer Global Research, is changing his bullish stance and selling stocks.

http://www.cnbc.com/id/35095722

Roubini: Asset Bubble Is Beginning Now
By: Antonia Oprita Associate Web Producer, CNBC.com
Withdrawing economic stimuli and tightening monetary policy are very difficult future policy choices, but something has to be done because asset bubbles have started to take shape, Nouriel Roubini, chairman of Roubini Global Economics, told CNBC Wednesday.

http://www.cnbc.com/id/35078010

Market Trend has Turned Negative: Stock Picker
By: JeeYeon Park CNBC News Associate
"We are market trend followers" and "we’re 100 percent in cash at the moment" because the trend has turned negative, said Graham Bibby, CEO and CIO of Richmond Asset Management. He shared his investment strategy.

http://www.cnbc.com/id/35098862