Jutia Group

Is Friday Nov. 13 Destined to Be “The Turn” Date?

Gold Investor — Sat, 21 Nov 2009 14:36:58 +0000

Minutes before I was ready to go on the air with my radio program I received a call from my long-time good friend Ian Gordon, who predicted the market would peak on Friday, Nov. 13. In addition to his usual work, Ian was basing his views on the core of work carried out by W.D. Gann, a brilliant market forecaster in the past who is known for his analysis of cycles and trading patterns in equities as well as commodities. It remains to be seen if this Friday, Nov. 13, was the top of the B wave up. If it…

Barclays Launches No-Reset Leveraged ETNs

Invest With An Edge — Sat, 21 Nov 2009 13:00:37 +0000

Be careful what you wish for. For all the leveraged fund critics that either do not like or do not understand daily (or monthly) reset of leverage and want a vehicle without path-dependent performance, your wish has come true. However, unless you bought them yesterday, you will not be getting the exact 2x or 3x index exposure you desire. You can’t have everything. Five new ETNs (exchange-traded notes), dubbed ETN+, from Barclays began trading yesterday (11/18/2009). When Barclays sold their iShares business, it appears that all their marketing and product naming people were also part of the deal. Here are the…

Daily Forex Commentary for November 21, 2009

Brewer Investment Group — Fri, 20 Nov 2009 23:31:00 +0000

November 21, 2009 Dollar Index Posts Weekly Reversal Bottom After reaching a 15-month low early in the week, the U.S. Dollar closed higher for the week against a trade-weighted basket of currencies. Technically, this closing price reversal, once confirmed, often leads to a 2 to 3-week retracement. The daily chart suggests that a move through 77.50 is necessary to turn the main trend to up. The low for the week for the Dollar was posted shortly after … Read More …

Jay Norris Video Commentary November 20, 2009

Brewer Investment Group — Fri, 20 Nov 2009 22:59:00 +0000

Welcome to Jay Norris’ Forex Trend Maps, a recap of the Forex Markets daily, posted after 4:30 PM (CST). For more information, please contact Jay at 1-800-971-2154 or at 312-896-3986. Click on the link below to view today’s charts and hear Jay’s analysis. http://www.screencast.com/t/ZjQ3OGQ0Z www.brewerfx.com forexblog@brewerfx.com … Read More …

Gold as a “Go To” Asset Class

HRA Advisories — Fri, 20 Nov 2009 20:50:16 +0000

From an HRA SD Alert to former Gold Mining Stock Report subscribers by David Coffin We believe there is room for more gold price gain, near term. A “true” gold market in which the yellow metal is being treated as an asset class in its own right is building around the uncertainties in other markets. That is different from recent warehousing cycles when gold moved most strongly during the final up stage of a resource/economic cycle. This time around gold is being treated as a market and currency hedge, not as a goody bag being handed out at the end of a party. …

Story Stocks: Ford Motor (NYSE: F), Microsoft (NASDAQ: MSFT), Advanced Micro Devices (NYSE: AMD)

Jutia Group — Fri, 20 Nov 2009 20:20:16 +0000

Ford Motor (NYSE: F) said it will invest 4 billion reais ($2.3 billion) to expand in the growing Brazilian market, the largest capital committment it has made in the country. The five-year plan includes boosting the capacity of the Camacari factory that makes the Fiesta small car and modernizing the Troller plant that builds utility vehicles. The Dearborn, Michigan based company also will invest in new models for Brazil. The auto industry in Brazil, South America’s largest economy, is headed for record sales this year, the country’s automakers association stated last month. Ford ranks fourth in Brazil, behind Fiat SpA, Volkswagen…

Gold Investing Expert: Bob Moriarty Goes on Record

Q1 Publishing — Fri, 20 Nov 2009 19:34:19 +0000

We live in a world that is totally insane. We have one US government agency buying worthless paper from another US government agency and the public nods their heads in agreement just as if it makes perfect sense. It doesn’t make any sense at all; it’s like taking water from one end of a swimming pool and carrying it down to the other end and believing you are making a difference. – Bob Moriarty, Gold is Getting Frothy With gold busting through $1100 this month, government deficits/spending/borrowing showing no signs of slowing down anytime soon, the stock market at unsustainable highs, it’s…

US Session: Sterling Suffers On Dollar Rebound

Advanced Currency Markets — Fri, 20 Nov 2009 17:45:28 +0000

G10 Advancers and Decliners vs USD JPY 0.05 EUR -0.44 CHF -0.53 GBP -0.86 There have been very few newsworthy events in today’s session, and even the handful of scheduled speakers lined up had very little effect on FX markets. The only driver therefore has been the performance of global equity markets; and with both European and US indices in negative territory, the USD has been able to make gains across the board. The hardest hit has been GBP which has tumbled over… Read More …

Stock Market News: ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), Red Hat Inc. (NYSE: RHT)

Jutia Group — Fri, 20 Nov 2009 17:26:39 +0000

Today, Nigeria renewed three shallow water oil licences jointly operated with ExxonMobil (NYSE: XOM), granting the U.S. energy firm leases of a further 20 years with the option to renew again. "Today we have reached an agreement on the terms of new leases that will go on for a further 20 years with an option to renew," Minister of State for Petroleum Odein Ajumogobia told reporters in the capital Abuja. Western oil firms including Exxon, Royal Dutch Shell and Chevron (NYSE: CVX) operate in Nigeria via joint ventures with state oil firm NNPC. The three licences (OML 67, 68 and 70)…

Smart Grid ETF Launched by First Trust Advisors

Invest With An Edge — Fri, 20 Nov 2009 16:33:46 +0000

Amid the flurry of new ETFs coming to market this week, it appears I missed the launch of First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) on Tuesday (11/17/09). This ETF focuses on stocks in the electric energy infrastructure and distribution grid subsector. The fund will typically invest in companies engaged in electric grid, metering equipment and devices, networks, energy storage and management, and enabling software used within the smart grid infrastructure. The underlying index uses a modified capitalization weighting with “pure play” companies receiving an 80% allocation and “diversified” companies receiving just a 20% allocation. The expense ratio…

Central Banks Continue to Buy Gold

The Real Deal — Fri, 20 Nov 2009 16:15:44 +0000

Zero Hedge: The latest development in the gold bubble saga, and one which will likely cause the precious metal’s price to spike even higher, comes from the tiny island of Mauritius which according to Dow Jones has purchased 2 metric tons of Gold from the IMF for $71.7 million. The price works out to approximately $1,115 per ounce. More as we get it. My comment: More and more countries, investors, and individuals are protecting themselves from the runaway inflationary policies of the US government. You have to at this point begin questioning the sanity of Congress with their ridiculous trillion dollar healthcare…

The Hidden Costs of Too Much Government Debt

Money and Markets — Fri, 20 Nov 2009 14:59:03 +0000

This week was a fascinating one on the geopolitical front. President Barack Obama travelled to China in what was billed as a major diplomatic trip. The idea? Try to reach common ground on several fronts, including global nuclear proliferation, environmental issues, and especially China’s currency … The U.S., Europe, and even some of China’s Asian neighbors believe that China is artificially suppressing the value of its currency, the renminbi or yuan. That, in turn, is giving China an artificial advantage in global trade by making its exports more competitive vis-à-vis those of other nations. But you know what Obama came home with?…

Market Updates: Bank of America Corp. (NYSE: BAC), JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Co. (NYSE: WFC), Berkshire Hathaway Inc. (NYSE: BRKA)

Jutia Group — Fri, 20 Nov 2009 14:30:42 +0000

JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC) are arranging an $8 billion loan for Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRKA) to help finance the takeover of railroad Burlington Northern Santa Fe Corp. The banks are providing a one-year loan with an interest rate 1 percentage point to 2 percentage points more than the London interbank offered rate. Three-month Libor, a borrowing benchmark, was set at 0.27 percent yesterday. Buffett is risking Berkshire’s AAA rating at Standard & Poor’s by taking on debt and drawing down cash holdings to finance the $26 billion acquisition of Burlington. JPMorgan…

Daily Futures Commentary November 20, 2009

Brewer Investment Group — Fri, 20 Nov 2009 14:08:00 +0000

Friday, November 20, 2009 Lower global equity markets are helping to push the U.S. Dollar higher as investors shun risky assets for a second consecutive day. Traders began getting nervous earlier in the week after Fed Chairman Bernanke mentioned the level of the Dollar in a speech. This was followed by supportive comments from European Central Bank President Trichet who used a speaking opportunity to announce his agreement with Bernanke and to try to talk up the Dollar. The recent pace of the decline in the Dollar has been giving traders a clue that sentiment may be shifting. This shift started at about the same…

Daily Forex Commentary for November 20, 2009

Brewer Investment Group — Fri, 20 Nov 2009 13:42:00 +0000

November 20, 2009 Euro Traders Sensitive to Efforts to Talk Up Dollar The U.S. Dollar posted a strong gain versus major currencies on Thursday as investors pulled money out of higher risk assets and sought refuge in the safer Greenback. Recent weak U.S. economic data is making traders think twice about buying riskier stocks and commodities at the current lofty levels. The EUR USD traded sharply lower early in the Thursday trading session but managed to erase … Read More …

Take the Long View For Gold & Silver

Gold Investor — Fri, 20 Nov 2009 11:39:50 +0000

When gold reached its record high against the US dollar of $1064.20 on October 13th, the price of gold in euros, Swiss francs and British pounds did not confirm. On that day they were still below their recent high by 10.1%, 7.5% and 4.4% respectively. Technically, this result was a bearish divergence, which can be a warning sign that the market’s internal condition is deteriorating. For example, bearish divergences often signal a top. Whether or not gold was signaling a potential top, the argument could be made – and many have made it – that gold was rising solely because of dollar…

European Session: BoJ Holds Rates Steady

Advanced Currency Markets — Fri, 20 Nov 2009 10:40:59 +0000

G10 Advancers and Decliners vs USD JPY 0.04 EUR -0.02 CHF -0.06 GBP -0.21 Risk appetite stayed weak in the Asian session, after Wall Street closed lower but, overall, most of the trading in currencies and commodities was well in their ranges. The EURUSD traded between 1.4880 and 1.4940, while spot Gold traded between $1140 and $1147. With no first tier economic releases scheduled today, we don’t expect any one way trade of break out of the monthly ranges. But ranges… Read More …

The Great Geopolitical Battle Over Energy Transit Routes

OilPrice.com — Fri, 20 Nov 2009 09:30:43 +0000

As we all live in the present, it is very hard to fully assess the future implications of decisions supported or made by political and business leaders. An extraordinary game of geo-strategy is under way to lock in long-term agreements, notably in the energy sector. At a global level, the transit routes of future oil & gas pipelines become the object of a power struggle involving not only the suppliers and end-users but also the transit countries. Intensive courtships are under way where a ménage à trois, or more, may be the best option to prevent any country from being…

Dollar, Yen Gain on Bleaker Economic Recovery Outlook

ForexYard — Fri, 20 Nov 2009 06:26:12 +0000

Dollar, Yen Gain on Bleaker Economic Recovery Outlook The Dollar and Yen gained against the EUR and other higher yielding currencies Thursday on concerns about the sluggish pace of the world economic recovery. A Decline in equity and commodity prices pushed investors back into the USD and JPY as safe haven currencies. Economic News USD – USD Gains on Weak U.S Economic Data The Dollar gained versus the EUR and other higher yielding currencies on Thursday following the release of weak U.S. economic data and a steep drop in global equities. The Dollar index rose to 75.3108 from 75.108 late Wednesday.…

Dollars Always Come Home

Invest With An Edge — Fri, 20 Nov 2009 06:00:46 +0000

Asia is the focus this week as President Obama toured the region and met with various leaders. He spent a considerable amount of time in Beijing. This should surprise no one, given the ever-closer connection between China and the United States, financially and otherwise. Cynics portray the trip as Obama going hat-in-hand to beg for the Chinese to keep financing the U.S. federal deficit. There is some element of truth to this, but it is also true that the relationship goes both ways. The Chinese need us, too. Their entire economy revolves around exports to the West; this is why…

Jay Norris Video Commentary November 19, 2009

Brewer Investment Group — Thu, 19 Nov 2009 22:47:00 +0000

Welcome to Jay Norris’ Forex Trend Maps, a recap of the Forex Markets daily, posted after 4:30 PM (CST). For more information, please contact Jay at 1-800-971-2154 or at 312-896-3986. Click on the link below to view today’s charts and hear Jay’s analysis. http://www.screencast.com/t/NjhhNWIy www.brewerfx.com forexblog@brewerfx.com … Read More …

Will UNL Work Better Than United States Natural Gas Fund (NYSE: UNG)?

Invest With An Edge — Thu, 19 Nov 2009 20:00:02 +0000

The official-sounding but totally private United States Commodity Funds has launched another ETF based on natural gas prices. United States 12 Month Natural Gas Fund (UNL) started trading Wednesday (11/18/09). It joins the firm’s previous offering, United States Natural Gas Fund (UNG) in an attempt to offer small investors an easy way to participate in the natural gas market. The new fund is a response to certain structural problems of UNG that resulted in dramatic underperformance relative to its benchmark, particularly in the last few months. This chart of UNG vs. natural gas futures tells the story well. The issue is that futures contracts expire…

Goldman Sachs (NYSE: GS) Delivers for Shareholders

Invest With An Edge — Thu, 19 Nov 2009 18:45:05 +0000

Few American companies are as vilified as Goldman Sachs (GS). Formerly an investment bank, Goldman is now a commercial bank, a change that allowed it to take billions in taxpayer assistance during the financial calamity of 2008. Some would debate the usefulness of keeping Goldman in business, saying the company doesn’t produce essential goods like automobiles, clothes, energy or food. Still others would argue that Goldman probably didn’t need the taxpayer money in the first place. Given the massive profits it was turning before the financial crisis and robust earnings so far in 2009, Goldman has done just fine. Throw in…

US Session: Dollar Gains On Equity Losses But Remains In Ranges

Advanced Currency Markets — Thu, 19 Nov 2009 18:03:31 +0000

G10 Advancers and Decliners vs USD JPY 0.41 EUR -0.55 GBP -0.62 CHF -0.68 The USD has remained bid throughout the day as poor equity market performances have moderated risk appetite. Commodities including gold and silver have retraced markedly from their highs, with gold dipping as low as $1133.16 from yesterday’s $1153 levels, and oil slipping 2.5% to trade at $77.50. The strength of the USD in today’s session has ensured that EURUSD remains comfortably within its… Read More …

Profit from the Falling Dollar With ETFs

Money and Markets — Thu, 19 Nov 2009 17:28:11 +0000

The U.S. dollar is falling like a rock! And while we could always see a short-term rally, I’m growing more and more convinced that the dollar is heading much lower against other world currencies. Look at this chart below. In just the last eight months, the U.S. Dollar Index (DXY), which measures the strength of the dollar against a basket of major currencies, plunged more than 15 percent! This week it’s breaking down even further. One of the main reasons this trend is likely to continue is that the people who have the power to do anything about it — namely the…

Louis James Shares Some of the “Best of the Best”

The Gold Report — Thu, 19 Nov 2009 16:30:38 +0000

Source: The Gold Report, Interviewed by Karen Roche, Publisher 11/17/2009 In this exclusive interview with The Gold Report, Louis James, Senior Editor of Doug Casey’s International Speculator, reiterates his conviction that the dollar is on death row with no one prepared to grant a stay of execution. Dismal as it is, this situation gives rise to increasingly positive prospects for gold and other commodities that may ultimately stand in as the world’s reserve currency. And there are some pretty hot speculative prospects—Louis’ "best of the best" —waiting in the wings for the market’s next big leg down that he’s been forecasting. The Gold Report: The last time you…

Market Updates: Citigroup Inc. (NYSE: C), J.P. Morgan Chase (NYSE: JPM), Sears Holding Corp. (NASDAQ: SHLD), Williams-Sonoma (NYSE: WSM)

Jutia Group — Thu, 19 Nov 2009 14:09:21 +0000

Bond yields will continue to tighten relative to benchmarks next year as government stimulus programs fuel economic recovery, Citigroup Inc. (NYSE: C) analysts in London said in their outlook for 2010. “We see at least another 25 to 30 percent of tightening in credit spreads,” Hans Peter Lorenzen and Matt King said in the presentation. “Many of the long-term issues the world was grappling with earlier this year still exist, but with the policy-induced recovery they’ve either been dragged out over a longer period or postponed.” -Bloomberg J.P. Morgan Chase Co. (NYSE: JPM) extended its reach in Europe on Thursday with the expected…

Daily Futures Commentary November 19, 2009

Brewer Investment Group — Thu, 19 Nov 2009 13:44:00 +0000

Thursday, November 19, 2009 The U.S. Dollar is trading higher against most major currencies this morning with the exception of the Japanese Yen. Easing in equity, gold and crude oil prices is sending a signal to traders to lighten up positions and book profits after the recent decline in the Dollar. The inability to accelerate the Dollar to the downside is also contributing to the rally. Shorts seem to have pulled offers after the down side momentum started to flatten out. The December Euro failed to take out $1.5000 which came as a surprise to traders. Yesterday’s rally in the Euro following comments from Luxembourg’s Juncker should…