Tuesday, May 18, 2010

Update Daily Investment News

Yoshikami: Learn From Warren Buffett
Warren Buffett latest SEC filings to the SEC show that those that say he's an investment dinosaur simply don't understand how the mind of the Omaha Oracle works.

March 2009 Lows Will Be Tested: Strategist
The stock markets’ March 2009 lows could be tested and even broken as sovereign debt continues to grow in Europe and stimulus measures wane, Philippe Gijsels, head of research at BNP Paribas Fortis global markets, told CNBC.com Tuesday. http://www.cnbc.com/id/37205731

Investors Favor U.S. Stocks Amid EU Crisis, Merrill Survey Says
(Bloomberg) -- U.S. stocks were the most favored by investors in May as the outlook for growth in the euro region and its currency deteriorated amid a spiraling sovereign debt crisis, a BofA Merrill Lynch Global Research report showed.

Hedge Funds Betting More Trouble Ahead For This Sector
If you think late day buying on Monday is a sign that bulls are back, you may be in for a rude awakening.

Gold Investors Should 'Rush to the Exits': Dennis Gartman
Investors should get out of gold immediately as the metal reaches a technical top and is due for a pullback, says Dennis Gartman, hedge fund manager and author of The Gartman Letter.

Which is the Better Buy: Oil or Gold?
Oil prices have taken a spectacular slide in May, down 18 percent at $70 a barrel. Part of the reason is global demand and potential cutbacks in shipping, manufacturing and other industries. Meanwhile, gold is near record highs as investors seek safety from the ongoing European debt threat. Which do you think is the better buy right now: oil or gold?

Copper’s ‘Uptrend’ Not Dead, Barclays Says: Technical Analysis
(Bloomberg) -- Copper’s “uptrend” may not be over yet, even after prices slumped the most in almost 16 months and closed below their 200-day moving average, according to technical analysis by Barclays Capital.

Philippine Stocks May Drop on ‘Triple Top’: Technical Analysis
(Bloomberg) -- The Philippine Stock Exchange Index may decline with the formation of a “triple top” pattern after it failed to breach peaks three times in the past five weeks, according to Banco de Oro Unibank Inc. 

Daily Forex Technicals |   Written by India Forex
The EURUSD is currently trading at 1.2345 already breaking below our target of 1.2350 (please refer our earlier reports) .We had advised exporters to cover at 1.30 levels for medium term (refer week back update). Bearish-target 1.2000 & below. (EURUSD - 1.2345).
GBPUSD is currently trading at 1.4438 levels . The bias clearly bearish further down. We got some exporters covered few days back at 1.5050 levels (refer previous updates). We have reached our target of 1.45 levels as expected (Refer previous update). We are still bearish on the pair. Target 1.41 & below. (GBPUSD 1.4438). Bearish.
USDJPY is currently trading 92.48 levels. We have not seen a break of 94.50 consistently since so many days. Moroever we are witnessing a huge risk aversion in global markets pushing usd/jpy lower everytime. Please note that the yen is also not getting strong the way it should be , so any retracements in the currencies would push yen above 94. (USDJPY 92.48) Neutral.
AUDUSD is currently trading at 0.8726 levels. Exporters got booked few days back at 0.9050 levels. Target of .8700 achieved . (AUDUSD - 0.8726).
Gold is currently trading at $1225 levels and its bias is clearly on the upside. It had reached our target of 1st Target of 1200 dollars and 2nd target of 1240 levels. Buying on dips remains the strategy. (Gold- $1225) Bullish.
The Index has reached our target of 86.00. Dollar index's rise from 74.19 has accelerated after staying firm above upper channel resistance. The powerful impulsive move is in line with our view that rise from 74.19 is resuming the long term up trend from 70.70. The next objective rests at 87.14. That's where wave three (in rally sequence from 82.90) will be 1.618x wave one .(Dollar Index- 86.46) Overall Bullish

Daily Forex Technicals |   Written by FXtechtrade
Today's support: - 1.2282, 1.2206, 1.2178 and 1.2150(main), where correction is possible. Break would give 1.2124, where correction also may be. Then follows 1.2103. Break of the latter would result in 1.2080. If a strong impulse, we would see 1.2048. Continuation will give 1.2026.
Today's resistance: - 1.2424, 1.2476 and 1.2512(main). Break would give 1.2549, where a correction is possible. Then goes 1.2573. Break of the latter would result in 1.2600. If a strong impulse, we'd see 1.2655. Continuation will give 1.2676.
Today's support: - 91.58(main). Break would bring 91.34, where correction is possible. Then 91.01, where a correction may also happen. Break of the latter will give 90.79. If a strong impulse, we would see 90.37. Continuation would give 90.05.
Today's resistance: - 92.70, 93.04, 93.17 and 93.66(main), where a correction may happen. Break would bring 94.15, where also a correction may be. Then 94.40. If a strong impulse, we would see 94.68. Continuation will give 95.11.
Today's support: - 10530.17(main), where a delay and correction may happen. Break of the latter will give 10479.30, where correction also can be. Then follows 10445.63. Be there a strong impulse, we shall see 10429.72. Continuation will bring 10378.13.
Today's resistance: - 10711.80, 10734.50 and 10769.26(main), where a delay and correction may happen. Break would bring 10804.63, where a correction may happen. Then follows 10832.65, where a delay and correction could also be. Be there a strong impulse, we'd see 10866.70. Continuation would bring 10911.50 and 10932.37

Why Dow 5000 Is Still 'Very Likely': Strategist
Last week, David Hefty, chief executive of Cornerstone Wealth Management, warned investors of a sudden market “freefall,” sending the Dow below 5,000. But James Hardesty, president, market strategist and chief economist at Hardesty Capital Management said there is still “much strength” in the economy and expects to end the year higher. They returned to CNBC Monday to share their insights.

Art Cashin: Expect Markets to Head Lower
The euro slid to a four-year low on Monday amid persistent Eurozone sovereign debt worries. How will it affect markets today? Art Cashin, director of floor operations at UBS Financial Services, and Peter Costa, president of Empire Executions and a CNBC market analyst, shared their insights.

Halftime: How Low Will Bears Push Market?
Selling dominated afternoon trade on Monday with ongoing concerns about Europe overshadowing any optimism generated by the latest mergers including a deal inked by Universal Health Services [UHS  42.14    3.10  (+7.94%)   ] to buy Psychiatric Solutions [PSYS  32.39    -0.24  (-0.74%)   ], for about $2 billion.

Cash-Strapped Funds May End Bull
Your fund manager needs you. Equity mutual funds are the most fully invested in the stock market that they’ve ever been … ever. The record low levels of cash are a signal that a bear market may be ahead, according to strategist Alan Newman, editor of the "Crosscurrents" investment newsletter.

Asia Should Consider Capital Controls to Cap Inflows (Update1)
(Bloomberg) -- Asian countries may benefit from capital controls to help limit inflows that pose a risk to their economies and financial systems, according to the Asian Development Bank.

Euro May Fall to $1.2045 After Failed Rally: Technical Analysis
(Bloomberg) -- The euro may weaken toward $1.2045 after failing to make “any significant retracement,” from yesterday’s four-year low, ANZ National Bank Ltd. said, citing trading patterns.

Euro at Dollar Parity ‘Sooner Or Later,’ CLSA Says (Update1)
(Bloomberg) -- The euro will be on par with the U.S dollar “sooner or later” as the region’s debt crisis worsens, according to Christopher Wood, chief equity strategist at CLSA Asia Pacific Markets.

Philippine Stocks May Drop on ‘Triple Top’: Technical Analysis
(Bloomberg) -- The Philippine Stock Exchange Index may decline with the formation of a “triple top” pattern after it failed to breach peaks three times in the past five weeks, according to Banco de Oro Unibank Inc.

Buy China Stocks in Second Half, CLSA’s Wood Says (Update1)
(Bloomberg) -- Investors should avoid buying China’s stocks until the third quarter when the government starts unwinding measures to curb asset bubbles, said Christopher Wood, chief equity strategist at CLSA Asia Pacific Markets.

Oil May Extend Declines This Week as Dollar, Stockpiles Weigh: CNBC Survey
Benchmark oil prices will likely extend losses this week, hit by lingering anxiety over the Euro Zone debt crisis and rising crude stockpiles, CNBC's latest oil market opinion poll shows.

Gold May Fall as Some Investors Sell After Climb to Near Record
(Bloomberg) -- Gold may decline in New York on sales by some investors after the precious metal climbed near a record over concerns that Europe’s debt crisis will sap the region’s economic recovery and weaken its 16-nation currency.

‘Reverse Diversification’ Boosts Global Demand for U.S. Assets
(Bloomberg) -- “Reverse diversification” boosted global demand for long-term U.S. financial assets to a record as the European fiscal crisis may be beginning to translate into increased demand for dollar assets.

S&P 500’s ‘Constructive’ Retreat Not Over: Technical Analysis
(Bloomberg) -- U.S. stocks’ gain last week wasn’t enough to spell the end of a retreat that sent the Standard & Poor’s 500 Index to the biggest decline since the bull market began, according to Katie Stockton of MKM Partners.

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