by Greg Canavan, Daily Reckoning.com.au:
Yesterday was a doozy, wasn’t it? Where to start?
The Aussie dollar fell below 97 cents. The ASX200 fell more than 100 points, or around 2%. The Nikkei collapsed over 7%, after starting the day rallying mindlessly. The index experienced a 1,000+ trading range. We also heard that China’s manufacturing sector tipped back into recession, and that Ford won’t be making cars in Australia any more.
Standby for a Paul Krugman [...]
Senior Technical Strategist Ryan Detrick. “This is unprecedented and really only adds to the high levels of uncertainty already out there.
Markets Halted as Wall Street Endures Hurricane Sandy
As Hurricane Sandy made its way up the Eastern Seaboard and targeted the nation’s financial center, trading was suspended for the Dow Jones Industrial Average (DJI) and other major indexes and exchanges. In fact, because the potential for greater problems will rise throughout [...]
The first shutdown for consecutive days due to weather since 1888 was announced by NYSE Euronext after consultations with other exchanges.
For the first time in more than a century, weather has stopped U.S. equity trading for two straight days as Hurricane Sandy swept across New York City. NYSE Euronext (NYX) will this morning test a back-up plan in case its headquarters or trading floor are unable to open tomorrow.
Stock trading was canceled for a second day, joining bond markets, [...]
Anais Fournier, from Maryland, had heart attack brought on by ‘caffeine toxicity’ two days before Christmas last year
Her parents have launched wrongful death suit over ‘death trap’ drink
Monster is the leading U.S. energy drink by volume with 39% of market
Energy drink, described by the company as ‘killer energy brew’, contains seven times the amount of caffeine as can of cola
Monster Beverage has been sued by the family of a 14-year-old [...]
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WASHINGTON – The onslaught of oppressive heat in the D.C. area will likely extend through the weekend, but relief is in sight.
First, the bad news: An excessive heat warning will be in effect from 11 a.m. [...]
A scorching heat wave is gripping much of the eastern two-thirds of the nation, setting an astonishing number of temperature records.
More than 3,000 temperature records have been shattered in the U.S. this past week, from June 28-July 4, 2012, according to NOAA. The tally of record high temperatures during the time period is 2,253, and the tally of maximum low temperature records is 936.
From July 1-July 4 alone, more than 1,000 [...]
Monday morning will be decision time for traders and investors: Should they buy or sell after Friday’s steep decline that pushed the S&P 500 below its 200-day moving average?
While comments out of Europe over the weekend point to signs of a more urgent push for a fiscal union the euro zone, that may be not enough for the market that just saw the Dow turn negative for the year and the S&P [...]
SOUTH GREENSBURG (KDKA) — The blooming of spring will soon give way to the sprouting of summer garage sales.
The yards and driveways of South Greensburg will play their part in America’s weekend tradition.
But when the friendly weekend garage sale threatens to become an everyday business, that’s when neighbors are likely to say “There ought to be a law!”
That wish may soon come true.
“We decided, with the warmer weather coming up, [...]
From Marin Katusa, Chief Energy Investment Strategist, Casey Research:
Gasoline consumption in the United States has been dropping for years. In the last decade, vehicle fuel efficiency has improved by 20%, and the combination of that shift and a weak economy of late has pushed gasoline demand to its lowest level in a decade.
At the same time, U.S. oil production is at its highest level in a decade. Deepwater wells in [...]
By Ronald D. WhiteFebruary 17, 2012, 12:31 p.m.
Just in time for Presidents Day: get ready for the long holiday weekend’s highest prices ever in Southern California as $4 gasoline is expected to arrive in Los Angeles, Long Beach, and probably Orange County, too.
That’s what energy analysts are predicting as the average price of a gallon of gasoline in the Los Angeles-Long Beach area reached $3.996 a gallon overnight, up nearly 2 [...]
House Speaker John Boehner (R-Ohio) made clear on Thursday that when it comes to a deficit reduction deal, his position hasn’t changed: Tax increases are out, but new revenues could be in.
The question of taxes and revenue has bedeviled congressional and administration negotiators for months, and they were at the center of the dispute between Boehner and President Obama when their talks for a possible “grand bargain” on the budget [...]
Instead of tackling any specific and highly volatile high frequency macroeconomic data points today (which will most likely be diametrically inverted in the next update iteration), today David Rosenberg focuses on sundry items and flights of fancy that are worth noting, such as that “the S&P 500 has recorded 62 consecutive days in which it has swung by 1% or more in intraday trading. The Dow has also closed 1% [...]
Wondering what caused the dramatic plunge in gold and silver earlier? Wonder no more: the CME’s counterpart in China, the Shanghai Gold Exchange, decided to follow through with an identical, if more substantial, action to that undertaken by the CME on Friday, and announced an increase in the Silver T+D contract margin from 15% to 18%, a 20% bump; the SGE also noted an increase in the [...]
Major U.S. Indexes
The Dow Jones Industrial Average plunged 265.87 points, or 2.19 percent, to end below the psychologically-important 12,000 mark at 11,866.62. The last time the blue-chip index declined for eight-consecutive days was in October 2008.
All 30 Dow stocks ended lower, with Pfizer [PFE 18.14 -0.87 (-4.58%) ] and GE [GE 17.21 -0.76 (-4.23%) ] leading the biggest laggards.
The S&P 500 plummeted 32.89 points, [...]
(Reuters) – High temperatures and humidity were expected to bake a large swath of the United States again on Sunday and send afternoon heat indexes in dozens of cities to dangerous levels, where forecasters predicted they would remain through much of the coming week.
The National Weather Service posted excessive heat warnings for much of the nation’s midsection, including Illinois, Wisconsin, Minnesota, Iowa, Missouri, Kansas, [...]
After 12 consecutive days of protests, the biggest gathering in Athens’ parliamentary Syntagma square is currently underway. The FT reports: “Thousands of Greeks protested outside parliament on Sunday against a fresh austerity package agreed in return for the country’s second bail-out in 13 months by the European Union and International Monetary Fund. “Thieves, thieves….Where did our money go?” the protestors shouted, blowing whistles [...]
I’m going to start laddering in to some more dividend stocks starting right now.
On my list:
INTC, NUE, DUK, MSB, PPL, HBC
By Stephen Ceasar, Los Angeles Times
“After a series of competitive blunders and missteps in the last decade, the bookstore chain is under siege, cutting staff, shuttering stores, shaking up top management and flirting with bankruptcy. The company reported a net loss of $74.4 million for the quarter that ended Oct. 30 and has reported financial losses every quarter for the last three years. [...]
How do people, especially experienced traders, forget this stuff so easily? Bull markets grind higher and higher until they’re overbought, and correct with sudden sickening sell-offs triggered by a rumor, or nothing at all. Bear markets grind lower and lower until they reach oversold, then correct with violent mindless rallies on no particular bullish news.
If you need convincing, your confirmation is in the volume. Sell-offs have been on increasing volume, [...]
Compounding with leveraged (2x) investments: Ã¢â‚¬Å“The same but moreÃ¢â‚¬Â
Now letÃ¢â‚¬â„¢s take a look at how compounding affects leveraged fund returns in upward-trending, downward-trending and volatile markets. Compounding in leveraged funds can result in gains or losses that occur much faster and to a greater degree.
When Ã¢â‚¬Å“20 + 20 = 44Ã¢â‚¬Â
In a low-volatility upward-trending market, compounding can result in longer-term leveraged returns that are greater [...]