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Euro Retrace in the Works But Higher Prices Likely
Yesterday we wrote that " there is a chance that wave i of 3 is near complete and that a setback, ending near 1.5840, will begin soon. However, this is...
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US Stock Market Summary for Tuesday: SEC Issues Emergency Order
The first thing I want to address tonight is the statement made today by Christopher Cox, Chairman of the Securities and Exchange Commission (SEC) at the Senate hearing. Mr. Cox stated that he will issue an emergency order to...
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Financials Rout: Are Investors Over-reacting To A Bad Situation?
The third quarter of 2008 will go down in history as one when real fear manifested itself in market behavior. Typically, such periods of outright despondency (capitulation) signal the end rather than early stages of a bear...
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Stock Market Worsens - Is That A Contrarian Signal Of A Market Bottom?
THE FINAL NUMBERS - INTERNAL WEAKNESS. NEWS: If the closing bell would have rang at 3:00 the day would not have looked so bad. But unfortunately for the trading session closed an hour later and there was more red on Wall...
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Oil ETFs Socked As Consumer Spending Power Weakens
Oil exchange traded funds (ETFs) are spilling today as prices plummeted by as much as $9.26 a barrel. The price plunge was the hardest in 17 years, reports Adam Schreck for the Associated Press. It lost $6.44 and settled at $138.74 a ...
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Senator Jim Bunning Pokes Fun At Fed Chairman Bernanke
Against the backdrop of an ongoing financial train wreck, Sideshow Ben was a bit of a downer this morning. His best laid plans in tatters, the Fed chief turned suddenly gloomy.Long gone were those sunny days in June when the Sideshow ... ...
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Stock Picks And Trade Ideas For Wednesday - C, AMD, FSLR
Chart courtesy of stockcharts ( click to enlarge ). First Solar (FSLR) - First Solar is doing relatively well considering the market’s condition. The stock has held its recent gains quite well and closed above its 50-day moving...
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The Fannie Mae/Freddie Mac Bailout Is Necessary - But Don’t Expect ...
It’s the end of the “American Dream.” It’s the story of how the inevitable bailout of insolvent housing giants Fannie Mae (FNM) and Freddie Mac (FRE) - with the Federal Housing Administration soon to follow -...
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Sacramento Real Estate Sales Continue Positive Trend
Sales of homes in the Sacramento region extended their year-over-year (YoY) gains to a 3rd straight month in June. It appears April was the start of a pretty strong turn around for the region. I wrote about the April results here and ...
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Forex Trading: Dollar gets stronger on the lower oil and higher stocks
The dollar is getting stronger on the back of the oil coming down, some comforting remarks about Freddie and Fannie and higher stocks. read more.
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What are Risk Reversals Saying about EUR/USD?
Risk reverals in the EUR/USD have hit an extreme level. The 25 delta 3 month risk reversals are at the highest level since June 2007. Whenever risk reversals hits critical levels, it indicates that everyone who wants to be long euros ...
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Forex News: Crude heads lower on the higher than expected oil ...
Crude Inventories +3.0 M barrels versus -2 M expected Gasoline +2.4 M vs. -100000 expected Distillates: +3.2m vs. +1.8M Expected. The numbers are bearish for crude/bullish for the dollar and stock market. Crude oil down $5.00...
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Forex News: Bernanke repeats the written text from yesterday
The Q and A time will be watched. The market is being influenced closely by the stock market. The crosses are also coming into play more with the EURJPY and the GBPJPY following stocks as well. Volatility seems to be back in vogue. ...
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Oil Prices Could Hit $130 a Barrel
It’sa super busy day, so I haven’t gotten a chance to really blog about the markets. However so far oil prices are down $6 a barrel - for $13 over the past 2 trading days. I wrote this post on How Far Could Oil Prices Fall? last week, ...
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Forex News Preview: JPY Tertiary Industry Index (MoM) 7:50PM EDT
USDJPY Tertiary Industry Index Expected at 7:50 PM at +.2%. Previous at +1.8%. The Tertiary Industry Index is an evaluation of changes in output for Japan's service sectory. Considering that the Japanese economy is based on...
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