Global

Beware Of New 52 Week Highs During Options Expiration Week

Posted on 02/16/10 at 12:42pm
Since mid January the major stock indexes have topped out in the short term and a pullback has been underway. The Dow Jones Industrial Average hit a high at 10,729 on January 19th, 2010 and made a short term low on February 5th, 2010 at 9,835. During that time many commodity and financial stocks lead the declined sharply.
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Senators Introduce Bill To Force Obama Administration To Take Action Against China’s Currency Policy

Posted on 03/16/10 at 6:34pm
The Wall Street Journal reports that a group of Senators, which includes Charles Schumer, Debbie Stabenow, Sherrod Brown, Lindsey Graham, and Sam Brownback, introduced a bill on Tuesday to force President Obama and his administration to take action against China for keeping the yuan at artificially low level.
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Tiger Woods Will Play At The Masters

Posted on 03/16/10 at 2:52pm
Tiger Woods announced today that he will make his PGA comeback on April 5, at the Masters. Woods has been embroiled in scandal since the world found out about his numerous infidelities in the wake of a bizarre late night car accident in November outside of his Florida home.
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Education 101: The Beauty Of The Markets - Former Resistance Becomes New Support

Posted on 03/16/10 at 1:32pm
Note how last Friday the markets hit a new 52 week high of $115.97. Today we slammed into that level and rose above. As the markets pulled back, the former resistance level of $115.97 now becomes support. Note how the market is gently bouncing off that level. The markets are a beautiful thing. Source: Pro Traders Rant & Rave Blog: http://inthemoneystocks.com/n_rant_and_rave_blog.php
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Some Names That Are Not At 52 Week Highs (NYSE:FCX), (NASDAQ:AMZN), (NYSE:AXP)

Posted on 03/16/10 at 1:20pm
The SPDR S&P 500 ETF (NYSE: SPY), iShares Russell 2000 Index ETF (NYSE: IWM), and the PowerShares QQQ Trust, Series 1 ETF (NASDAQ: QQQQ) are all at new 52 weeks highs surpassing the recent January top.
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Sony Signs A Deal With Michael Jackson’s Estate (SNE)

Posted on 03/16/10 at 12:53pm
Sony Corp (NYSE: SNE) has signed a deal worth $250 million with Michael Jackson’s estate. The deal, coming nine months after the singer’s death, is one of the most lucrative recording contracts in history.
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EU Finance Ministers Back Plans For Financial Aid To Greece

Posted on 03/16/10 at 12:14pm
Finance ministers of the countries in the EU have given their backing on Tuesday to plans by euro zone countries to provide financial aid to Greece if the troubled nation falls in a situation where it cannot refinance its debt. The aid, if it happens, will be the first such in the eleven year history of the euro zone.
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Oil Continues To Be Below $80 A Barrel (SCO, DBO)

Posted on 03/16/10 at 8:53am
Oil continued to be below $80 a barrel on Tuesday. U.S. crude for delivery in April rose slightly by $0.15 to $79.95 a barrel, while Brent crude for delivery in April fell by $0.13 to $78.02 a barrel, in trading on Tuesday.
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Obama Expects Healthcare Bill Will Pass

Posted on 03/15/10 at 9:45pm
President Barack Obama is expecting to get the votes he needs for his health care overhaul, telling ABC News "we're going to make this happen." In an interview Monday, Obama said Democrats are working to get a bill ready for a vote later on this week. He said: "I believe we are going to get the votes."
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Broad Directionality In Markets; Daniel Mudd

Posted on 03/15/10 at 4:44pm
Daniel Mudd, CEO of Fortress Investment Group LLC (NYSE: FIG), believes that the there is a broad directionality in markets right now. Mudd gave his views on the markets in an interview with the Financial Times.
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