As you see, I have been trading on FXCM and today I log into IG markets and realised that CFD for commodities is no longer available here.
They introduced new product = LCP
“Leveraged Commodity Product” or “LCP” means an OTC commodity contract on a margin basis (other than a commodity futures contract) whereby a person undertakes, as determined by the terms and conditions of the contract, to pay an amount of money determined or to be determined by reference to the change in value of a commodity over a specified period of time;
The new contract size is now:
Gold
1. Standard Contract = 100 troy oz / margin requirement USD1700
2. SGD denominated contract = SGD$10 (SGD1 x min 10 contracts) / margin requirement SGD$170 (SGD17 x min 10 contracts)
Silver
1. Standard Contract = 5000 troy oz / margin requirement USD3000
2. SGD denominated Contract = SGD$5 (SGD1 x min 5 contracts) / margin requirement SGD$300 (SGD60 x min 5 contracts)
Light Crude Oil (US)
1. Standard Contract = USD 10 per full point / margin requirement USD1500
2. SGD denominated Contract = SGD$5 (SGD1 x min 5 contracts) / margin requirement SGD$750 (SGD150 x min 5 contracts)
Showing posts with label Commodities. Show all posts
Showing posts with label Commodities. Show all posts
Sunday, February 12, 2012
Friday, July 15, 2011
Quick Update
It will be a quick one, again :)
GBP/USD
Cable resisted at 1.6200 still....
Yesterday I queue to short at 1.6160, but order was not filled.
This morning GBP/USD crossed above 1.6160 and I am thinking twice...
Lets look at Daily Chart, the pattern repeat... and... should GBP/USD continue to be suppressed under 14/7 high 1.6192, or it is gonna make a false break to 1.6280 and come down?
I am hunting for the next Big move, I am getting excited since yesterday, and observing my patience... I want to catch the fall like last round at 1.6450.
It is Friday, and today is a crucial day, I reckon the market to either:
1. resisted below 1.6200 or;
2. form another top near 1.6280,
then close below 1.6030 to form a another bearish candle on weekly chart, daily chart, and next week a continuous pattern.
I hope it is today, but not Monday.
Observe intraday chart for the shorting opportunity.
CL
Trading the August Contract and covered short @ 9546 happy with 300 pips / cents, leaving with 1 open position.
Queue to short again @ 9610, SL 9656, TG 9386.
p/s:
The moment I finish this journal, I actually ordered to sell GBP/USD at 1.6255, SL 1.6287, TG 1.6002.
GBP/USD
Cable resisted at 1.6200 still....
Yesterday I queue to short at 1.6160, but order was not filled.
This morning GBP/USD crossed above 1.6160 and I am thinking twice...
Lets look at Daily Chart, the pattern repeat... and... should GBP/USD continue to be suppressed under 14/7 high 1.6192, or it is gonna make a false break to 1.6280 and come down?
I am hunting for the next Big move, I am getting excited since yesterday, and observing my patience... I want to catch the fall like last round at 1.6450.
It is Friday, and today is a crucial day, I reckon the market to either:
1. resisted below 1.6200 or;
2. form another top near 1.6280,
then close below 1.6030 to form a another bearish candle on weekly chart, daily chart, and next week a continuous pattern.
I hope it is today, but not Monday.
Observe intraday chart for the shorting opportunity.
CL
Trading the August Contract and covered short @ 9546 happy with 300 pips / cents, leaving with 1 open position.
Queue to short again @ 9610, SL 9656, TG 9386.
p/s:
The moment I finish this journal, I actually ordered to sell GBP/USD at 1.6255, SL 1.6287, TG 1.6002.
Wednesday, July 6, 2011
Quick Update
CL
CL has break out above the triple top resistance (4 Hour and 1 Hour chart), My 1st trade to Short CL were triggered stop loss of 40 cents.
Like what I mentioned yesterday CL may form a false break to 96.03, but it has break up all the way to 97.00 region and currently trading slow.
Therefore, my view on CL has switched from bearish, to bullish.
Lets see yesterday trade setup, shorted at triple top, and the price action after breaking the top.
Observe the price action at this level, it has invalidate my previous forecast, therefore, I turned from bearish, to bullish on CL, forecast the bullish sentiment to continue until $99.80.
GBP/USD
GBP/USD rebounded when it touched 1.6000, lowest 1.5988.
I took profit at 100 pips and GBP/USD is trading at 1.6070.
Market direction: Range bound.
Similarly, today I will do intraday trade with Fibo Range:
1) to Short @ 1.6134 SL 1.6174 TG 1.6030
2) to Long @ 1.5980 SL 1.5940 TG 1.6080
GBP/USD will be super bearish once it cross below 1.5900.
CL has break out above the triple top resistance (4 Hour and 1 Hour chart), My 1st trade to Short CL were triggered stop loss of 40 cents.
Like what I mentioned yesterday CL may form a false break to 96.03, but it has break up all the way to 97.00 region and currently trading slow.
Therefore, my view on CL has switched from bearish, to bullish.
Lets see yesterday trade setup, shorted at triple top, and the price action after breaking the top.
Observe the price action at this level, it has invalidate my previous forecast, therefore, I turned from bearish, to bullish on CL, forecast the bullish sentiment to continue until $99.80.
GBP/USD
GBP/USD rebounded when it touched 1.6000, lowest 1.5988.
I took profit at 100 pips and GBP/USD is trading at 1.6070.
Market direction: Range bound.
Similarly, today I will do intraday trade with Fibo Range:
1) to Short @ 1.6134 SL 1.6174 TG 1.6030
2) to Long @ 1.5980 SL 1.5940 TG 1.6080
GBP/USD will be super bearish once it cross below 1.5900.
Tuesday, July 5, 2011
Quiet Day.... CL
It is a quiet trading day yesterday.
Lets see some chart...
Added CL into my trading watch list,
27th June, CL hit low 89.61 and well supported at 200 days moving average, after 2 days of rebound, hitting 95.84 high on 30th June, it is currently resisted at 95.50-95.80 it has been doing 3 days of consolidation, currently trading at 94.95.
To fulfil my wave reading, CL need to at least rebound 50% to 96.03, but with current bearish sentiment (lower high, lower low on 1 hour chart), we may only see a 1/3 retracement, then CL continue to trade down. Although I favour to short this market, I reckon 2 secarios:
1. False break to 96.03, form divergence in small time frame (30 mins), form reversal candlestick and down.
2. Resisted at 95.50-95.80 region, waiting for fundamental news trigger sell down to break 93.80-93.40, and going to support 92.40. While I prefer this to happen...
Intraday trade:
Short at initial shadow (50 cents) 94.95 + 0.50 = 95.45
SL 95.85
TG 93.85
Lets see some chart...
Added CL into my trading watch list,
27th June, CL hit low 89.61 and well supported at 200 days moving average, after 2 days of rebound, hitting 95.84 high on 30th June, it is currently resisted at 95.50-95.80 it has been doing 3 days of consolidation, currently trading at 94.95.
To fulfil my wave reading, CL need to at least rebound 50% to 96.03, but with current bearish sentiment (lower high, lower low on 1 hour chart), we may only see a 1/3 retracement, then CL continue to trade down. Although I favour to short this market, I reckon 2 secarios:
1. False break to 96.03, form divergence in small time frame (30 mins), form reversal candlestick and down.
2. Resisted at 95.50-95.80 region, waiting for fundamental news trigger sell down to break 93.80-93.40, and going to support 92.40. While I prefer this to happen...
Intraday trade:
Short at initial shadow (50 cents) 94.95 + 0.50 = 95.45
SL 95.85
TG 93.85
Friday, May 20, 2011
Gold on 20-May-2011
Thank God its Friday again!
This morning we celebrated my brother's birthday.
I had a wonderful chat with him last night, again, I remember the school really doesn't teach what is most important, the knowledge that my brother has acquired so far, is based on his own research, studies, trial and error, and now, experience, and continue to trial and error and continue to research.
To find a good developer is not easy, to develop something good, is not easy either.
We need to acquire the skills set with a lots and lots of hard work.
Consistent Effort.
Nobody can teach, or rather I would say, SKILLS is not easy to impart to the other person, because, we do not know what the other don't know, sometimes, we might end up teaching him something he totally don't understand, doesn't intend to learn, etc.. making it a waste of time to both the coach and the learner.
To be effective, drop everything that you know, park your experience or past research aside, re-learn something new, and set your objectives CLEAR.
We are different, our objectives are different.
Different objectives lead to different expertise, we master trading in different time frame, we realize our preferred pattern, we found our 1 bullet - 1 kill trade, START now, START from the OBJECTIVES, only when we are clear of what we want! Ask yourself, do you really want it?
Yes, you want it, and you will make it happen for yourself, you are totally capable of being who you intend to be.
Keep your determination ALIVE, by reminding yourself again and again of WHY it's important to you.
当你决定做一件事情的时候，全世界都会帮你。
When you have decided to do ONE thing, the WORLD, will help you.
First of all, decide.
and, Follow.
Follow through.
Gold on Friday 20-May-2011
It has been trading in the range, and I am still observing.
Current resistance 1500.
Current resistance 1480.
I expect Gold to continue trading in this narrow range.
Short term Breaking either end lead to 1522 and 1466.
4 Hour Chart
Daily Chart
Related: Gold on 18-May-2011
Gold on Mon 16-May-2011
I mentioned that my Annual Target for Gold, Related Post here: Gold on 21-Mar-2011
All Related to Gold
This morning we celebrated my brother's birthday.
I had a wonderful chat with him last night, again, I remember the school really doesn't teach what is most important, the knowledge that my brother has acquired so far, is based on his own research, studies, trial and error, and now, experience, and continue to trial and error and continue to research.
To find a good developer is not easy, to develop something good, is not easy either.
We need to acquire the skills set with a lots and lots of hard work.
Consistent Effort.
Nobody can teach, or rather I would say, SKILLS is not easy to impart to the other person, because, we do not know what the other don't know, sometimes, we might end up teaching him something he totally don't understand, doesn't intend to learn, etc.. making it a waste of time to both the coach and the learner.
To be effective, drop everything that you know, park your experience or past research aside, re-learn something new, and set your objectives CLEAR.
We are different, our objectives are different.
Different objectives lead to different expertise, we master trading in different time frame, we realize our preferred pattern, we found our 1 bullet - 1 kill trade, START now, START from the OBJECTIVES, only when we are clear of what we want! Ask yourself, do you really want it?
Yes, you want it, and you will make it happen for yourself, you are totally capable of being who you intend to be.
Keep your determination ALIVE, by reminding yourself again and again of WHY it's important to you.
当你决定做一件事情的时候，全世界都会帮你。
When you have decided to do ONE thing, the WORLD, will help you.
First of all, decide.
and, Follow.
Follow through.
Gold on Friday 20-May-2011
It has been trading in the range, and I am still observing.
Current resistance 1500.
Current resistance 1480.
I expect Gold to continue trading in this narrow range.
Short term Breaking either end lead to 1522 and 1466.
4 Hour Chart
Daily Chart
Related: Gold on 18-May-2011
Gold on Mon 16-May-2011
I mentioned that my Annual Target for Gold, Related Post here: Gold on 21-Mar-2011
All Related to Gold
Saturday, May 14, 2011
Trade Deficit, Budget Deficit..
Trade Deficit in U.S. Widens More Than Estimated on Surge in Oil Imports
Source: Bloomberg News
The U.S. trade deficit widened more than forecast in March as the highest oil prices in more than two years boosted imports, eclipsing record exports.
WTI Crude price rose to as high as 106.94 on 7-Mar-2011, corrected to below 100 yesterday. Last traded 99.06 USD per barrel.
At the same time, US Dollar index - against a basket of 6 currencies, plunge to as low as 72.86 on 4-May-2011, rebounded to 75.405.
We believe the current situation will keep driving up the cost of imports (lower USD, higher cost of production) ---- while the weak currency will keep US competitive of exporting the goods to emerging markets, yes, as a result of weaker dollar, we shall see more Coach bags, Prada Bags, Gucci Bags... because it looks cheaper with the weak currency now :)
And... ah ha~~ I am very very happy playing with the kids, and talking to my brother, and talking to my sister-in-law, I have so much fun, and I love my brother, I love my niece, I love my sister-in-law! :)
Certainly my brother has so much talent, just a click or two, he can give me an answer -- of a question that has been troubling me for months! oops... come back to Economics. :p
The Trade Gap in US is going to widen a bit... but it must come back to an equilibrium.
The trade gap rose 6 percent to $48.2 billion, the biggest since June, from $45.4 billion in February, the Commerce Department reported today in Washington. The median forecast of 72 economists surveyed by Bloomberg News projected it would widen to $47 billion. Sales abroad climbed by the most in 17 years.
Budget Deficit...
US Budget Deficit to Exceed $1 Trillion Again This Year
Source: CNBC
Curb federal Spending, increase tax..
We need more jobs, more employment (more people working), more tax revenue for the government, maintain low interest rate so that we can continue to stimulate the economy, continue to weaken the dollar by printing more and more paper money...
But with QE2 coming to an end (in 2 weeks...?) speculations and rumors are all over the places.
What would be the future of US Economies? DJIA, Nasdaq 100, EUR/USD, USD/JPY, and the precious metal like Gold and Silver?
Source: Bloomberg News
The U.S. trade deficit widened more than forecast in March as the highest oil prices in more than two years boosted imports, eclipsing record exports.
WTI Crude price rose to as high as 106.94 on 7-Mar-2011, corrected to below 100 yesterday. Last traded 99.06 USD per barrel.
At the same time, US Dollar index - against a basket of 6 currencies, plunge to as low as 72.86 on 4-May-2011, rebounded to 75.405.
We believe the current situation will keep driving up the cost of imports (lower USD, higher cost of production) ---- while the weak currency will keep US competitive of exporting the goods to emerging markets, yes, as a result of weaker dollar, we shall see more Coach bags, Prada Bags, Gucci Bags... because it looks cheaper with the weak currency now :)
And... ah ha~~ I am very very happy playing with the kids, and talking to my brother, and talking to my sister-in-law, I have so much fun, and I love my brother, I love my niece, I love my sister-in-law! :)
Certainly my brother has so much talent, just a click or two, he can give me an answer -- of a question that has been troubling me for months! oops... come back to Economics. :p
The Trade Gap in US is going to widen a bit... but it must come back to an equilibrium.
The trade gap rose 6 percent to $48.2 billion, the biggest since June, from $45.4 billion in February, the Commerce Department reported today in Washington. The median forecast of 72 economists surveyed by Bloomberg News projected it would widen to $47 billion. Sales abroad climbed by the most in 17 years.
Budget Deficit...
US Budget Deficit to Exceed $1 Trillion Again This Year
Source: CNBC
Curb federal Spending, increase tax..
We need more jobs, more employment (more people working), more tax revenue for the government, maintain low interest rate so that we can continue to stimulate the economy, continue to weaken the dollar by printing more and more paper money...
But with QE2 coming to an end (in 2 weeks...?) speculations and rumors are all over the places.
What would be the future of US Economies? DJIA, Nasdaq 100, EUR/USD, USD/JPY, and the precious metal like Gold and Silver?
Friday, January 21, 2011
Gold on Friday 21-Jan-2011
My part on Gold is done. Did you shorted the Gold like the level I mentioned on Monday? Related Post: Gold on 15-Jan-2011, this is what we at Ayumi the novice trader said:
Which level have you shorted? and which level have you taken profit?
Related Post: Gold on 15-Jan-2011
I would possibly place my short at 1373-1377, SL 1385.:)
Target exit1350, 1330, 1315. revised: 1358, 1344, 1330
Which level have you shorted? and which level have you taken profit?
- Shorted at 1377 SL 1385, TG 1358 Hit!
+19 points - Shorted at 1377 SL 1385, TG 1344 Hit!
+33 points!
Related Post: Gold on 15-Jan-2011
Saturday, January 15, 2011
Gold on 17-Jan-2011 (Mon)
Gold on 17-Jan-2011 (Mon)
I shorted Gold at 1385, Gold market has Triggered my stop loss on Thursday night 13/1/2011 @ 1391, resisted at 1392, form a candlestick reversal pattern (bearish engulfing) and .... and dive down.
Price go back to entry, and entered to my target price.
Taken my losses, happy for the little loss of 6pts.
I'm looking forward to retracement for another short entry.
Reckon market to find support like previous low 1352 (Friday low 1354).
This time, retracement won't go too far, may be 1367, max 1377.
I would possibly place my short at 1373-1377, SL 1385.
Target exit1350, 1330, 1315. revised: 1358, 1344, 1330
Silver on 17-Jan-2011 (Mon)
Didn't trade on Silver, but it seems that my pick to Short 29.26 or 29.76 seems fine.. and market turn after 2nd short level.
Yet to hit target price 27.586, Friday low 28.059. Make all figures look simple... from now on... I will post 2 decimal...
Reckon market to retrace to 28.92, pick short at 28.92, SL 29.06 (14 cents), TG 28.35 (57 cents), Ultimate TG 27.60 (132 cents).
Silver contract size is big for me... Trading Gold means cannot trade Silver :p
Lets get Silver contracts explained:
Silver Futures
Product Symbol: SI
Venue: CME Globex, CME ClearPort, Open Outcry (New York)
Contract Size = 5,000 troy ounces
Min Tick Size EFP = 0.005 (0.5 cents) per troy ounce
Contract / Tick = $25 per contract
1 full Point (1 cent) correspondent to = $50 per contract
Trading Example:
Sell 5,000 troy ounce of Silver @ 28.920 per troy ounce = USD 144,600
Buy 5,000 troy ounce of Silver @ 27.600 per troy ounce = USD 138,000
Investment (Initial Margin*) = USD 7,230
* Initial margin requirement, we are taking SI at 5% now, my preferred broker also offer 5%.
Profit = +132 cents correspond to Profit = +USD 6,600
ROI = 91%
Good news, I just knew another broker offer mini versions of all Standard Spot Metals contracts at 10% of the main contract size.
meaning, in this case, margin requirement is USD 723 for 1 mini contract :)
Disclaimer: Margin product (leveraged product) like Gold and Silver can result in losses that exceed your initial deposit. Trading margin product may not be suitable for everyone, so please ensure that you fully understand the risks involved, control your risk and do not let Greed overtake you.
Gold Bar Image extraced from Amazon:
Related Post: Gold Futures and Silver Futures
I shorted Gold at 1385, Gold market has Triggered my stop loss on Thursday night 13/1/2011 @ 1391, resisted at 1392, form a candlestick reversal pattern (bearish engulfing) and .... and dive down.
Price go back to entry, and entered to my target price.
Taken my losses, happy for the little loss of 6pts.
I'm looking forward to retracement for another short entry.
Reckon market to find support like previous low 1352 (Friday low 1354).
This time, retracement won't go too far, may be 1367, max 1377.
I would possibly place my short at 1373-1377, SL 1385.
Target exit
Silver on 17-Jan-2011 (Mon)
Didn't trade on Silver, but it seems that my pick to Short 29.26 or 29.76 seems fine.. and market turn after 2nd short level.
Yet to hit target price 27.586, Friday low 28.059. Make all figures look simple... from now on... I will post 2 decimal...
Reckon market to retrace to 28.92, pick short at 28.92, SL 29.06 (14 cents), TG 28.35 (57 cents), Ultimate TG 27.60 (132 cents).
Silver contract size is big for me... Trading Gold means cannot trade Silver :p
Lets get Silver contracts explained:
Silver Futures
Product Symbol: SI
Venue: CME Globex, CME ClearPort, Open Outcry (New York)
Contract Size = 5,000 troy ounces
Min Tick Size EFP = 0.005 (0.5 cents) per troy ounce
Contract / Tick = $25 per contract
1 full Point (1 cent) correspondent to = $50 per contract
Trading Example:
Sell 5,000 troy ounce of Silver @ 28.920 per troy ounce = USD 144,600
Buy 5,000 troy ounce of Silver @ 27.600 per troy ounce = USD 138,000
Investment (Initial Margin*) = USD 7,230
* Initial margin requirement, we are taking SI at 5% now, my preferred broker also offer 5%.
Profit = +132 cents correspond to Profit = +USD 6,600
ROI = 91%
Good news, I just knew another broker offer mini versions of all Standard Spot Metals contracts at 10% of the main contract size.
meaning, in this case, margin requirement is USD 723 for 1 mini contract :)
Disclaimer: Margin product (leveraged product) like Gold and Silver can result in losses that exceed your initial deposit. Trading margin product may not be suitable for everyone, so please ensure that you fully understand the risks involved, control your risk and do not let Greed overtake you.
Gold Bar Image extraced from Amazon:
Related Post: Gold Futures and Silver Futures
Friday, January 14, 2011
Gold Trading and Contract Specifications
Average Day Range for Gold = $13.
little tutorial on Gold Futures:
Product Symbol: GC
Venue: CME Globex, CME ClearPort, Open Outcry (New York)
Contract Size = 100 troy ounces
Min Tick Size = 0.10 per troy ounce
Contract / Tick = $10
1 full point correspondent to = $100
Example: Short Gold Futures Profit
Gold Price @ 1,400 USD, Short
When Gold is trading at 1,399.90 USD = +$10.00
When Gold is trading at 1,399.00 USD = +$100.00
Example: Short Gold Futures Trade
You decide to go short one near-month Comex Gold Futures contract at the price of USD 1400.00/oz. Since each Gold futures contract represents 100 troy ounces of gold, the value of the contract is USD 140,000. To enter the short futures position, you have to put up an initial margin of USD 7,000.
A week later (or in our case, a day later), the price of gold falls and correspondingly, the price of Comex Gold futures drops to USD 1380.00 per troy ounce. Each contract is now worth only USD 138,000. So by closing out your futures position now, you can exit your short position in Gold Futures with a profit of USD 2,000.
Sell 100 troy ounce of Gold @ 1,400 per troy ounce = USD 140,000
Buy 100 troy ounce of Gold @ 1,380 per troy ounce = USD 138,000
Investment (Initial Margin*) = USD 7,000
* Initial margin requirement, we are taking GC at 5% now, my preferred broker offer 3%
Profit = USD 2,000
ROI = 28%
In our case, if we convert this trade to our trading P/L log... Sell $1415 - Buy $1382 = +$33
Risk : Reward ratio = 1 : 4
$3,300 / $ 7,000 = 47% ROI
Congratulations.
*1 troy ounce = 31.1034768 grams.
1 troy ounce = 120 carats
Disclaimer: Margin trading involves Risk, only take calculated risk and do not let greed overtake you.
Related Post:
Gold Futures and Silver Futures
Gold Futures explained (Video)
The Options Guide
Gold on 5th Jan
little tutorial on Gold Futures:
Product Symbol: GC
Venue: CME Globex, CME ClearPort, Open Outcry (New York)
Contract Size = 100 troy ounces
Min Tick Size = 0.10 per troy ounce
Contract / Tick = $10
1 full point correspondent to = $100
Example: Short Gold Futures Profit
Gold Price @ 1,400 USD, Short
When Gold is trading at 1,399.90 USD = +$10.00
When Gold is trading at 1,399.00 USD = +$100.00
Example: Short Gold Futures Trade
You decide to go short one near-month Comex Gold Futures contract at the price of USD 1400.00/oz. Since each Gold futures contract represents 100 troy ounces of gold, the value of the contract is USD 140,000. To enter the short futures position, you have to put up an initial margin of USD 7,000.
A week later (or in our case, a day later), the price of gold falls and correspondingly, the price of Comex Gold futures drops to USD 1380.00 per troy ounce. Each contract is now worth only USD 138,000. So by closing out your futures position now, you can exit your short position in Gold Futures with a profit of USD 2,000.
Sell 100 troy ounce of Gold @ 1,400 per troy ounce = USD 140,000
Buy 100 troy ounce of Gold @ 1,380 per troy ounce = USD 138,000
Investment (Initial Margin*) = USD 7,000
* Initial margin requirement, we are taking GC at 5% now, my preferred broker offer 3%
Profit = USD 2,000
ROI = 28%
In our case, if we convert this trade to our trading P/L log... Sell $1415 - Buy $1382 = +$33
Risk : Reward ratio = 1 : 4
$3,300 / $ 7,000 = 47% ROI
Congratulations.
*1 troy ounce = 31.1034768 grams.
1 troy ounce = 120 carats
Disclaimer: Margin trading involves Risk, only take calculated risk and do not let greed overtake you.
Related Post:
Gold Futures and Silver Futures
Gold Futures explained (Video)
The Options Guide
Gold on 5th Jan
Tuesday, January 11, 2011
Updates
Hi all, I do not have much time for a full posting today, before I go off, I wished to post some quick updates on some major currency and Gold.
EUR/USD
Trading near to resistance level, hopefully market continue to retrace, remain same view, only to pick short at key resistance level 1.3050.
Related Post: Weekly forecast (FX)
USD/JPY
Position open on USD/JPY.
Long 82.80 SL 82.50 TG 84.50
DJIA
2308 GMT [Dow Jones] WALL STREET: Stocks mixed, hurt by telecommunication companies as investors mulled the impact of the expected launch of Apple''s iPhone for Verizon and as worries mounted over the health of the euro-zone economy. Sprint Nextel fell 2.1% and AT&T shed 1.8% in the wake of confirmation over the weekend that Verizon Wireless will officially announce Tuesday that it will carry Apple''s iPhone, which initially had only been available on the AT&T network. Dupont fell 1.5%, after agreeing to acquire Denmark''s Danisco in a $6.3 billion deal. Investors said the market''s pullback was a natural reaction after its climb in the last quarter of 2010 stretched into last week. Portfolio managers also are waiting for earnings reports to revise their outlooks and see which sectors are poised to do well in the new year. "Earnings in the first half of the year should be pretty good. I''m concerned a little bit about the second half," said Richard Sherry, portfolio manager at Kayne Anderson Rudnick Investment Management. "Companies have been doing a good job of managing costs, but as we go through the year it will become more difficult," as investors watch to see which companies are exhibiting growth, he said. DJIA down 0.3%, Nasdaq +0.2%, Philly semicons +1.0%. (by: rebecca.howard@dowjones.com)
Link: Dow Jones NewsPlus
Gold
Gold is also trading upward and trading near our favourite resistance level, remember we favour 1382-85, and 1391-1400.
Related: Gold on 10-Jan-2011
Although we forecast market to retrace (go up), but don't you see that I do not trade Long?
EUR/USD
Trading near to resistance level, hopefully market continue to retrace, remain same view, only to pick short at key resistance level 1.3050.
Related Post: Weekly forecast (FX)
USD/JPY
Position open on USD/JPY.
Long 82.80 SL 82.50 TG 84.50
DJIA
2308 GMT [Dow Jones] WALL STREET: Stocks mixed, hurt by telecommunication companies as investors mulled the impact of the expected launch of Apple''s iPhone for Verizon and as worries mounted over the health of the euro-zone economy. Sprint Nextel fell 2.1% and AT&T shed 1.8% in the wake of confirmation over the weekend that Verizon Wireless will officially announce Tuesday that it will carry Apple''s iPhone, which initially had only been available on the AT&T network. Dupont fell 1.5%, after agreeing to acquire Denmark''s Danisco in a $6.3 billion deal. Investors said the market''s pullback was a natural reaction after its climb in the last quarter of 2010 stretched into last week. Portfolio managers also are waiting for earnings reports to revise their outlooks and see which sectors are poised to do well in the new year. "Earnings in the first half of the year should be pretty good. I''m concerned a little bit about the second half," said Richard Sherry, portfolio manager at Kayne Anderson Rudnick Investment Management. "Companies have been doing a good job of managing costs, but as we go through the year it will become more difficult," as investors watch to see which companies are exhibiting growth, he said. DJIA down 0.3%, Nasdaq +0.2%, Philly semicons +1.0%. (by: rebecca.howard@dowjones.com)
Link: Dow Jones NewsPlus
Gold
Gold is also trading upward and trading near our favourite resistance level, remember we favour 1382-85, and 1391-1400.
Related: Gold on 10-Jan-2011
Although we forecast market to retrace (go up), but don't you see that I do not trade Long?
Thursday, January 6, 2011
Updates
Good day! It is drizzling out there, and the weather is cooling, comforting, and relaxing~
Lets have a go thru the updates on all 3 markets that we watch:
GBP/USD
Phew! Precision!
We have a good start of the year by shorting GBP/USD earlier at 1.5650, SL 690 (-40pipis), TG 460 (+210 pips), everything has moved pretty fast, that we at Ayumi the Novice trader believe GBP/USD may still have room to reach higher, I am happy that we took profit, closed the position and do not need to struggle to watch the market consolidate between 650-450 (200 pips).
What we foresee is GBP/USD find its base at 450 / 430 strong, and continue to reach higher to 1.5800! sounds crazy huh? Firstly, GBP/USD must cross above current high of 1.5660 to confirm the rally. By end of the week, lets see how the announcement will push the market higher.
If not this week, then will GBP/USD reach 1.58-1.60 again before 21-Jan-11?
I do not know.. lets see how things unfold...
Support Resistance remain the same as my previous post (3-Jan-11).
R3: 1.5800
R2: 1.5730
R1: 1.5630 (BKO)
S1: 1.5530
S2: 1.5430 (BKO)
*all figures rounded to nearest 30, or multiple of 10
Related Post: GBP/USD on 3-Jan-11
Related Post: Weekly Forecast 3-Jan-11 (FX)
DJIA
On 4-Jan-2011 (Monday closing) we forecasted DJIA to find its minor support 11630, and strong support 11530.
DJIA has actually come to a low of 11635 on Tuesday, resisted at 11700, to me, this is a psychological play because I almost think that the momentum would have slowed down... BUT! DJIA edged higher tonight, marking a new high at 11742, closing @ 11722.
what does all these means... We missed the entry (to long), but we still remain the view that DJIA is going towards 11850.
Ultimate TG: 12300
Resistance 2: 12000
Resistance 1: 11850
Support 1: 11630
Support 2: 11530
Related Post: DJIA on 4-Jan-2011 (Monday Closing)
Weekly Forecast - DJIA and Nasdaq 100
Gold
updated last night, click here = 2nd Kill, Gold on 5-Jan-2011
Lets have a go thru the updates on all 3 markets that we watch:
GBP/USD
Phew! Precision!
We have a good start of the year by shorting GBP/USD earlier at 1.5650, SL 690 (-40pipis), TG 460 (+210 pips), everything has moved pretty fast, that we at Ayumi the Novice trader believe GBP/USD may still have room to reach higher, I am happy that we took profit, closed the position and do not need to struggle to watch the market consolidate between 650-450 (200 pips).
What we foresee is GBP/USD find its base at 450 / 430 strong, and continue to reach higher to 1.5800! sounds crazy huh? Firstly, GBP/USD must cross above current high of 1.5660 to confirm the rally. By end of the week, lets see how the announcement will push the market higher.
If not this week, then will GBP/USD reach 1.58-1.60 again before 21-Jan-11?
I do not know.. lets see how things unfold...
Support Resistance remain the same as my previous post (3-Jan-11).
R3: 1.5800
R2: 1.5730
R1: 1.5630 (BKO)
S1: 1.5530
S2: 1.5430 (BKO)
*all figures rounded to nearest 30, or multiple of 10
Related Post: GBP/USD on 3-Jan-11
Related Post: Weekly Forecast 3-Jan-11 (FX)
DJIA
On 4-Jan-2011 (Monday closing) we forecasted DJIA to find its minor support 11630, and strong support 11530.
DJIA has actually come to a low of 11635 on Tuesday, resisted at 11700, to me, this is a psychological play because I almost think that the momentum would have slowed down... BUT! DJIA edged higher tonight, marking a new high at 11742, closing @ 11722.
what does all these means... We missed the entry (to long), but we still remain the view that DJIA is going towards 11850.
Ultimate TG: 12300
Resistance 2: 12000
Resistance 1: 11850
Support 1: 11630
Support 2: 11530
Related Post: DJIA on 4-Jan-2011 (Monday Closing)
Weekly Forecast - DJIA and Nasdaq 100
updated last night, click here = 2nd Kill, Gold on 5-Jan-2011
Sunday, December 19, 2010
Gold Futures and Silver Futures
Welcome CME products to Bursa Malaysia, we can trade Gold, Silver, Cotton, Coffee, DJIA, e-Mini Dow... :)
Gold Futures
Product Symbol: GC
Venue: CME Globex, CME ClearPort, Open Outcry (New York)
Contract Size = 100 troy ounces
Min Tick Size = 0.10 per troy ounce
Contract Value = $10 per contract
Example:
Gold Price @ 1,400 USD, Long
When Gold is trading at 1,400.10 USD = +$1.00
When Gold is trading at 1,401.00 USD = +$10.00
Silver Futures
Related: [CME Group] [Time Zone]
What is CT?
In most states in the USA and in most provinces in Canada, Daylight-Saving Time (DST) is observed. During DST CT (or CDT) is 5 hours behind Greenwich Mean Time (GMT-5).
After the Summer months Central Time is shifted back by 1 hour to US Central Standard Time (CST) or (GMT-6).
Gold Futures
Product Symbol: GC
Venue: CME Globex, CME ClearPort, Open Outcry (New York)
Contract Size = 100 troy ounces
Min Tick Size = 0.10 per troy ounce
Contract Value = $10 per contract
Example:
Gold Price @ 1,400 USD, Long
When Gold is trading at 1,400.10 USD = +$1.00
When Gold is trading at 1,401.00 USD = +$10.00
I have created a ticket for quick reference.
Product Symbol: SI
Venue: CME Globex, CME ClearPort, Open Outcry (New York)
Contract Size = 5,000 troy ounces
Min Tick Size EFP = 0.005 (0.5 cents) per troy ounce
Contract Value = $25 per contract
Example:
Silver Price @ 29.115 USD, Long (2911.3 cents)
When Silver is trading at 29.116 USD = +$5.00
When Silver is trading at 29.125 USD = +$50.00
What is CT?
In most states in the USA and in most provinces in Canada, Daylight-Saving Time (DST) is observed. During DST CT (or CDT) is 5 hours behind Greenwich Mean Time (GMT-5).
After the Summer months Central Time is shifted back by 1 hour to US Central Standard Time (CST) or (GMT-6).
Wednesday, December 1, 2010
US Stocks Slip As Euro-Zone Woes Continue To Weigh; DJIA Off 16
By Donna Kardos Yesalavich and Kristina Peterson
Of DOW JONES NEWSWIRES
NEW YORK -- U.S. stocks fell Tuesday as investors continued to worry about the European sovereign-debt crisis, but better-than-expected data on U.S. manufacturing and consumer confidence helped limit the drop.
The Dow Jones Industrial Average declined 16 points, or 0.2%, to 11036. Bank of America was the measure's worst performer, off 2%, while Procter & Gamble shed 1.5% and Cisco Systems dropped 1.2%.
Keeping the declines in check, Caterpillar climbed 1.2%, boosted by a better-than-expected reading on Chicago-area manufacturing. Wal-Mart Stores also rose, up 0.6%, and Walt Disney added 0.6%, after the Conference Board's measure of consumer confidence topped estimates.
The blue-chip measure is on pace to end November in negative territory, down 0.9% on the month recently. That would mark its first down month since August.
The Nasdaq Composite Index shed 0.9% to 2502, hurt by a 4.4% drop in Google following reports that the online-search giant is offering to buy Groupon, a social-network site geared toward discount shoppers, in a deal worth $6 billion. Separately, the European Commission opened an antitrust investigation into allegations that Google has abused a dominant position in online search.
The Standard & Poor's 500-stock index slipped 0.4% to 1183, with its technology sector leading to the downside while the materials and consumer-discretionary stocks rose. The S&P 500's month-to-date return wavered between positive and negative territory, putting the measure at risk of breaking a three-month winning streak.
Investors were encouraged by the Chicago Purchasing Managers' Index, which came in at 62.5 in November, better than the 60.0 reading economists were expecting. In addition, the Conference Board's November reading of consumer confidence came in at 54.1, better than the mean economists' forecast of 52.5.
"The indication here is you are seeing a recovery, but it is a sluggish one and it's really going to take a rally in employment in order for it to become more aggressive," said Edmund Hyland, managing director and a global investment specialist at J.P. Morgan Private Bank's southeastern region.
Meanwhile, investors continue to fret that Europe's sovereign-debt crisis could widen to Portugal, Spain or Italy. The premium demanded by investors to hold 10-year Spanish bonds over German bunds hit more than three full percentage points, the largest gap since the launch of the euro.
"The theme that really strikes me is this tug of war in the information we're receiving," said Stephen Wood, chief market strategist at Russell Investments. He noted that while the euro-zone debt crisis has produced "very headline-worthy negative news, [it] has kind of masked some untrivial improvement in some U.S. economic data."
Wood added that the euro-zone issues are "something the market is pricing in now and it is just going to have to get accustomed to dealing with some of these rolling solvency issues in Europe."
Global risk appetite was also undermined by talk of higher Chinese interest rates as well as disappointing Japanese jobless figures, encouraging investors back into safe havens, such as the dollar and Treasurys.
The U.S. Dollar Index, which tracks the currency against a basket of six others, rose 0.5%. The euro dipped below $1.30 to a two-month low earlier in the session, but was recently trading at $1.3009, down from $1.3123 late Monday in New York. Increased demand for Treasurys sent the yield on the 10-year note down to 2.80%.
Crude-oil prices slipped below $85 a barrel while gold futures were also lower.
Among stocks in focus, Seagate Technology dropped 3.1% after the maker of computer disk drives cut off talks with private-equity firms about taking it private because potential suitors didn't value the company highly enough.
Barnes & Noble fell 3.3%. The book retailer's fiscal second quarter loss narrowed, but it gave a muted outlook, projecting a wider-than-anticipated loss for the year and third-quarter earnings below analysts' expectations.
---By Donna Kardos Yesalavich, Dow Jones Newswires; 212-416-2188; donna.yesalavich@dowjones.com
Thursday, November 4, 2010
US Summary, DJIA at 2-Yr High Close
USD fall vs rivals after Fed announces fresh round of asset purchases to kickstart economy. USD dropped sharply in extremely volatile trading in initial reaction but soon recovered most of the loss. Investors expected roughly $500 billion in Treasury purchases over 5-6 months, notes Vassili Serebriakov, FX strategist at Wells Fargo in New York, but Fed announced $600 billion package over 8 months. Late Wednesday, EUR/USD was at 1.4122, vs 1.4034 late Tuesday, USD/JPY 81.13 vs 80.64, EUR/JPY 114.59 vs 113.19, GBP/CHF $1.6095 vs $1.6028, USD/CHF 0.9707 vs 0.9795. U.S. Dollar Index was 76.396 vs 76.731.
DJIA made 2-year closing high after violent bouncing following congressional election, QE2.
BlackRock down 4.3%, after Bank of America said offering at least 34.5 million shares it holds in it, while fellow part-owner PNC Financial Services selling up to 7.5 million shares. PNC +2.2%, BoA +1.1%. KKR +0.4% even as 3Q earnings dropped 61% after its private-equity portfolio appreciated less than in year-earlier. Dow +0.2%, Nasdaq +0.3%, Philly Semicons +1.0%. 30-year Treasury bond tumbled, erasing earlier gains, as it wasn''t favored in U.S. Fed''s debt buying program, while 10-year also reversed gains.
Oil prices hit fresh 6-month high as Fed''s widely anticipated QE followed bigger-than-expected decline in U.S. fuel inventories;
December Nymex settled up 0.9% at $84.69/bbl. Gold prices whipsawed in after-market trade as investors were skittish after FOMC announcement.
However, December Comex gold closed down 1.4% at $1337.60/oz. (lucy.craymer@dowjones.com)
US Stocks End Volatile Session Higher; DJIA At 2-Yr High Close;
The Dow Jones Industrial Average lurched to a two-year closing high, bouncing around violently after the congressional election and after the Federal Reserve said it would buy $600 billion to prime the domestic economy.
The Dow gained 26.41 points, or 0.24%, to finish at 11215.13 after a volatile afternoon, while the Standard & Poor's 500-stock index added 4.39 points, or 0.37%, to close at 1197.96 and the Nasdaq Composite edged up 6.75 points, or 0.27%, to 2540.27.
The 10-year Treasury note sank, pushing the yield up to 2.625%. Gold and copper also fell as the Fed said it would maintain its existing policy of reinvesting principal payments from its securities holdings, and purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011 at a pace of about $75 billion a month.
The Fed said it would also "regularly review the pace of its securities purchases and the overall size of the asset-purchase program" as economic data flow in.
Expectations of Fed easing had helped fuel a two-month surge on the stock market that has added 12% to the Dow.
The Fed move was generally in line with market estimates, putting to rest the idea that the central bank would proceed on a more cautious step-by-step basis from the get-go.
Anthony Chan, chief economist at J.P. Morgan Private Wealth Management, said that tepid approach was now "off the table." Chan said the Fed's approach would help with "taking the uncertainty out of the air."
Keith Springer, president of Capital Financial Advisory Services, said the Fed delivered "the bare minimum" of what the market would accept, but warned that there was a gloomy message in the size of its package. "Things must be pretty bad out there for the Fed to be this worried," he said.
Dan Cook, chief executive of IG Markets-U.S. in Chicago, said the move was "right in line" with market expectations, leading to some of the initial market confusion. "I had expected more of a pop, but it was just so close to what was expected," he said. "This might be a thing where we have a battle that goes on for a bit before they pick a direction."
Scott Clemons, chief investment strategist for Brown Brothers Harriman, said the Fed's push to further ease monetary conditions would likely maintain downward pressure on the dollar. "I think it's actually an explicit desire of the Fed--it makes our export markets more attractive, and it makes imports more expensive, which helps to import inflation, and the Fed has said very clearly they would like to see some inflation," Clemons said.
The market moves came on a day when the economy showed tepid signs of improvement. Private-sector employment grew by 43,000 in October, topping consensus estimates of a 22,000-job gain. U.S. factory orders rose by a higher-than-expected 2.1% in September, the third consecutive month of growth for one of the economy's key drivers. Meanwhile, a measure of non-manufacturing activity came in at 54.3 for October, higher than September's 53.2 reading and better than consensus expectations of 53.5.
After the Fed's intervention, "I think if the data continues to be marginally positive, which it's been over the last couple weeks, there could be some fuel to the fire" to keep the rally in stocks going, said Frank Longman, market technician at Brean Murray, Carret & Co.
Companies in focus include BlackRock, which tumbled 4.3% after Bank of America said it is offering at least 34.5 million shares it holds in the money manager, while fellow part-owner PNC Financial Services Group is selling up to 7.5 million shares. Bank of America may also sell another 6.3 million shares in the overallotment option. PNC gained 2.2%, while Bank of America added 1.1%.
KKR gained 0.4% even as third-quarter earnings dropped 61% after its private-equity portfolio appreciated less than in the year-earlier period, thus hurting its revenue.
Some auto makers fared well after reporting significant jumps in new-vehicle sales amid stronger buying by American consumers. Ford Motor gained 5.2% after reporting a sales increase of 19% in October from the year before. Honda Motor gained 0.4% after reporting gains of 16%.
Garmin slumped 5.3% after a 30% increase in earnings at the maker of digital navigation devices missed analysts' expectations and came amid weaker sales and margins.
PulteGroup lost 7.7% after the Michigan home developer's third-quarter loss widened to nearly $1 billion. Pulte said orders dropped 12% from a year earlier and 15% from the second quarter.
Hartford Financial Services Group jumped 9.2% after the insurer beat third-quarter earnings expectations and raised its 2010 profit estimate.
MGM Resorts International surged 10% as the company's third-quarter loss narrowed amid sharply lower write-downs related to its struggling Las Vegas City Center complex.
Time Warner shed 1.1% after its earnings fell 21%, as the media giant took a hit related to debt redemptions, though adjusted earnings and revenue rose. AOL, which was spun off from the media giant last year, rose 3.2% after asset sales helped the Internet company boost profits.
Aetna gained 2.9% after earnings rose 53% as investment gains and lower medical costs offset continued declines in employer-based membership. Wellpoint, however, dropped 0.5% after third-quarter profit rose 1.2% following prior-year write-downs as claims costs rose, contrasting with a trend seen in much of the health-insurance industry this year.
U.S.-traded shares of French bank Societe Generale gained 3.7% after the lender said its third-quarter net profit doubled due to lower bad-loan provisions and growth in international retail banking.
Stocks in Europe stuck largely to the sidelines ahead of the Fed decision, with the Stoxx 600 index finishing down 0.4%. In Asia, Hong Kong's Hang Seng index broke above 24000 to trade at its highest level since mid-2008, led by banks.
Gold tumbled to below $1340 an ounce, while oil jumped to its highest settle in six months.
DJIA made 2-year closing high after violent bouncing following congressional election, QE2.
BlackRock down 4.3%, after Bank of America said offering at least 34.5 million shares it holds in it, while fellow part-owner PNC Financial Services selling up to 7.5 million shares. PNC +2.2%, BoA +1.1%. KKR +0.4% even as 3Q earnings dropped 61% after its private-equity portfolio appreciated less than in year-earlier. Dow +0.2%, Nasdaq +0.3%, Philly Semicons +1.0%. 30-year Treasury bond tumbled, erasing earlier gains, as it wasn''t favored in U.S. Fed''s debt buying program, while 10-year also reversed gains.
Oil prices hit fresh 6-month high as Fed''s widely anticipated QE followed bigger-than-expected decline in U.S. fuel inventories;
December Nymex settled up 0.9% at $84.69/bbl. Gold prices whipsawed in after-market trade as investors were skittish after FOMC announcement.
However, December Comex gold closed down 1.4% at $1337.60/oz. (lucy.craymer@dowjones.com)
US Stocks End Volatile Session Higher; DJIA At 2-Yr High Close;
By JONATHAN CHENG
The Dow Jones Industrial Average lurched to a two-year closing high, bouncing around violently after the congressional election and after the Federal Reserve said it would buy $600 billion to prime the domestic economy.
The Dow gained 26.41 points, or 0.24%, to finish at 11215.13 after a volatile afternoon, while the Standard & Poor's 500-stock index added 4.39 points, or 0.37%, to close at 1197.96 and the Nasdaq Composite edged up 6.75 points, or 0.27%, to 2540.27.
The 10-year Treasury note sank, pushing the yield up to 2.625%. Gold and copper also fell as the Fed said it would maintain its existing policy of reinvesting principal payments from its securities holdings, and purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011 at a pace of about $75 billion a month.
The Fed said it would also "regularly review the pace of its securities purchases and the overall size of the asset-purchase program" as economic data flow in.
Expectations of Fed easing had helped fuel a two-month surge on the stock market that has added 12% to the Dow.
The Fed move was generally in line with market estimates, putting to rest the idea that the central bank would proceed on a more cautious step-by-step basis from the get-go.
Anthony Chan, chief economist at J.P. Morgan Private Wealth Management, said that tepid approach was now "off the table." Chan said the Fed's approach would help with "taking the uncertainty out of the air."
Keith Springer, president of Capital Financial Advisory Services, said the Fed delivered "the bare minimum" of what the market would accept, but warned that there was a gloomy message in the size of its package. "Things must be pretty bad out there for the Fed to be this worried," he said.
Dan Cook, chief executive of IG Markets-U.S. in Chicago, said the move was "right in line" with market expectations, leading to some of the initial market confusion. "I had expected more of a pop, but it was just so close to what was expected," he said. "This might be a thing where we have a battle that goes on for a bit before they pick a direction."
Scott Clemons, chief investment strategist for Brown Brothers Harriman, said the Fed's push to further ease monetary conditions would likely maintain downward pressure on the dollar. "I think it's actually an explicit desire of the Fed--it makes our export markets more attractive, and it makes imports more expensive, which helps to import inflation, and the Fed has said very clearly they would like to see some inflation," Clemons said.
The market moves came on a day when the economy showed tepid signs of improvement. Private-sector employment grew by 43,000 in October, topping consensus estimates of a 22,000-job gain. U.S. factory orders rose by a higher-than-expected 2.1% in September, the third consecutive month of growth for one of the economy's key drivers. Meanwhile, a measure of non-manufacturing activity came in at 54.3 for October, higher than September's 53.2 reading and better than consensus expectations of 53.5.
After the Fed's intervention, "I think if the data continues to be marginally positive, which it's been over the last couple weeks, there could be some fuel to the fire" to keep the rally in stocks going, said Frank Longman, market technician at Brean Murray, Carret & Co.
Companies in focus include BlackRock, which tumbled 4.3% after Bank of America said it is offering at least 34.5 million shares it holds in the money manager, while fellow part-owner PNC Financial Services Group is selling up to 7.5 million shares. Bank of America may also sell another 6.3 million shares in the overallotment option. PNC gained 2.2%, while Bank of America added 1.1%.
KKR gained 0.4% even as third-quarter earnings dropped 61% after its private-equity portfolio appreciated less than in the year-earlier period, thus hurting its revenue.
Some auto makers fared well after reporting significant jumps in new-vehicle sales amid stronger buying by American consumers. Ford Motor gained 5.2% after reporting a sales increase of 19% in October from the year before. Honda Motor gained 0.4% after reporting gains of 16%.
Garmin slumped 5.3% after a 30% increase in earnings at the maker of digital navigation devices missed analysts' expectations and came amid weaker sales and margins.
PulteGroup lost 7.7% after the Michigan home developer's third-quarter loss widened to nearly $1 billion. Pulte said orders dropped 12% from a year earlier and 15% from the second quarter.
Hartford Financial Services Group jumped 9.2% after the insurer beat third-quarter earnings expectations and raised its 2010 profit estimate.
MGM Resorts International surged 10% as the company's third-quarter loss narrowed amid sharply lower write-downs related to its struggling Las Vegas City Center complex.
Time Warner shed 1.1% after its earnings fell 21%, as the media giant took a hit related to debt redemptions, though adjusted earnings and revenue rose. AOL, which was spun off from the media giant last year, rose 3.2% after asset sales helped the Internet company boost profits.
Aetna gained 2.9% after earnings rose 53% as investment gains and lower medical costs offset continued declines in employer-based membership. Wellpoint, however, dropped 0.5% after third-quarter profit rose 1.2% following prior-year write-downs as claims costs rose, contrasting with a trend seen in much of the health-insurance industry this year.
U.S.-traded shares of French bank Societe Generale gained 3.7% after the lender said its third-quarter net profit doubled due to lower bad-loan provisions and growth in international retail banking.
Stocks in Europe stuck largely to the sidelines ahead of the Fed decision, with the Stoxx 600 index finishing down 0.4%. In Asia, Hong Kong's Hang Seng index broke above 24000 to trade at its highest level since mid-2008, led by banks.
Gold tumbled to below $1340 an ounce, while oil jumped to its highest settle in six months.
(Donna Kardos Yesalavich, Steve Russolillo and Kristina Peterson contributed to this article.)
--By Jonathan Cheng, The Wall Street Journal; Jonathan.Cheng@wsj.com
Thursday, October 28, 2010
DJIA and Nasdaq 100
I am checking my open position last night on DJIA.
Long DJIA 11048 activated, and in floating profit of +7 points, however, after 30 minutes, it became -20 points.
Since I have already decided the trading plan, be it triggered stop loss or close position this morning with whatever profit or loss.
This morning looking at my Long, profit +70 points, and I closed the position. Follow the plan, and believe this is the best trading plan I can do for this week.
And once again, DJIA has proven its BIG Swing for 3rd consecutive days in this week.
My Trading Plan for today:
DJIA Long
Entry 11051 SL 11007 TG 11200
DJIA Short
Entry 11245 SL 11289 TG 11051
Related: My Weekly Forecast on DJIA for 25 Oct 2010
Long DJIA 11048 activated, and in floating profit of +7 points, however, after 30 minutes, it became -20 points.
Since I have already decided the trading plan, be it triggered stop loss or close position this morning with whatever profit or loss.
This morning looking at my Long, profit +70 points, and I closed the position. Follow the plan, and believe this is the best trading plan I can do for this week.
And once again, DJIA has proven its BIG Swing for 3rd consecutive days in this week.
US Stocks Pare Losses; DJIA, S&P 500 Lower As Energy Sector DragsSource: Dow Jones Newswire http://www.djnewsplus.com/article/0,,SB128817530572748371,00.html?mod=article-outset-box
By Jonathan Cheng
NEW YORK -- U.S. stocks pared their losses to close near the day's highs, as investors grappled with shifting expectations for a major bout of easing by the Federal Reserve to stimulate the economy.
The Dow Jones Industrial Average declined 43.18 points, or 0.4%, to 11126.28 while the Standard & Poor's 500-stock index lost 3.19 points, or 0.3%, to 1182.45. The Nasdaq Composite added 5.97 points, or 0.24%, to finish at 2503.26. Stocks retraced most of their earlier declines, when the Dow was down by nearly 150 points in intraday trading.
Energy stocks were among the biggest drags on the stock market, after weekly oil-inventory numbers showed U.S. stockpiles of crude oil rising by five million barrels. Exxon Mobil dropped 1.3% and Chevron fell 1% as crude-oil prices fell.
ConocoPhillips fell 1.2%, despite posting third-quarter earnings that more than doubled, buoyed by higher commodities prices and improved refining margins.
Oil prices also were hurt by the rising dollar, which hit commodity prices across the board. Gold fell to just over $1,320 an ounce, while copper tumbled 2.3%. That sent down materials and industrials stocks, the two worst-performing sectors of the day.
Merck dropped 1.7% to lead the decliners on the Dow, while Alcoa shed 1.3%. Bank of America gained 2.1% to lead the Dow industrials as well as a broader recovery in financial stocks after concerns earlier this month about mortgage foreclosures.
The declines came as investors tamped down expectations for a "shock-and-awe" approach by the Fed to help the economy, a strategy the central bank had turned to during the financial crisis, in favor of an approach that allows them to adjust policy over time as the recovery unfolds.
Expectations are now increasing for the Fed to unveil a program of U.S. Treasury bond purchases of a few hundred billion dollars over several months, an approach in contrast to the central bank's purchases of nearly $2 trillion of bonds during the financial crisis.
"The Fed was out there sending out a message," said Jay Suskind, senior vice president at Duncan-Williams. "It was a cue for the market that maybe from a commodity and dollar destruction standpoint, those trends went too far." Suskind said the sell-off was a natural one that came with "no panic," as investors came to a consensus that expectations for the Fed, as well as Tuesday's congressional elections and the generally strong earnings season, have been more or less priced into the market.
The Fed's apparent attempt to back away from "shock and awe" helped the dollar bounce back against most of its major rivals. The Australian dollar tumbled 1.5% against the greenback, while the dollar rose to 81.69 yen, from 81.50 yen late Tuesday in New York, and the euro fell to $1.3767, from $1.3852.
The benchmark 10-year Treasury fell, pushing the yield to its highest point in over a month, at 2.712%.
The concerns over the Fed came amid modestly positive data on durable-goods orders and the housing market.
U.S. manufactured durable-goods orders posted their biggest rise since January after a spike in orders for civilian aircraft and aircraft parts, an often volatile category. Overall, durable-goods orders rose 3.3% in September to a seasonally adjusted $199.16 billion, more than the expected 2.5% rise.
Meanwhile, new-home sales in September continued their rise from a rock-bottom level, increasing 6.6% to a seasonally adjusted annual rate of 307,000, more than consensus estimates of a 4.2% increase.
"The durable-goods number, if you strip out aircrafts, wasn't a great number," said Michael Shea, managing partner of Direct Access Partners, who added that the home data reflected a weak housing environment.
Shea said the bounce back in financial stocks came as investors moved to put questions about mortgage foreclosures in the past. "A lot of rational people were coming out, saying let's not throw the baby out with the bath water," he said. "It's not as dire for the share prices as we would have thought, and we're finally getting that."
Among companies reporting earnings, Whirlpool fell 4.1% after the appliance maker's profit fell 9.2%, though sales in Latin America and Asia showed strength.
Sprint Nextel slumped 9.9% after the telecommunications giant said its loss widened, although the company reported its biggest net subscriber gain since 2006.
Comcast gained 3.2% despite a decline in profits at the cable provider, which suffered from a summer slowdown in subscriber growth and costs related to its deal for NBC Universal weighed on its performance.
American depositary receipts of U.K. drug company GlaxoSmithKline fell 0.8% after it agreed to pay $750 million and plead guilty to a criminal charge to settle a U.S. government investigation of manufacturing deficiencies at its former plant in Puerto Rico.
Ford Motor, which posted a 70% jump in third-quarter profit Tuesday, fell 0.9%.
Procter & Gamble edged up 0.4% after the consumer-products company posted strong volume gains, though quarterly earnings fell 6.8%.
American depositary receipts of German software maker SAP dropped 5.2% after quarterly results fell short of expectations, and the business-software company was hit by legal provisions in connection with a $2 billion lawsuit brought against it by rival Oracle.
My Trading Plan for today:
DJIA Long
Entry 11051 SL 11007 TG 11200
DJIA Short
Entry 11245 SL 11289 TG 11051
Related: My Weekly Forecast on DJIA for 25 Oct 2010
Tuesday, October 19, 2010
Chinese Hike Boosts Dollar, But Hits Equities, Commodities
LONDON -- China's central bank surprised the European markets Tuesday with its decision to raise interest rates, sending the dollar higher but weakening commodities and equities.
The People's Bank of China said in a statement it will raise the one-year yuan lending rate to 5.56% from 5.31%, and the one-year yuan deposit rate to 2.5% from 2.25%, effective Wednesday.
This is the first rate hike by the Chinese central bank in almost three years--since December 2007--and comes as the Beijing government attempts to contain inflation and soaring property prices.
The majority of the impact was felt in the foreign exchange markets, where the U.S. dollar appreciated sharply at the expense of the high-beta currencies, like the Australian, Canadian, and New Zealand dollars.
"In effect, the move by the Chinese has drawn capital out of risk and reaffirmed the recent long-dollar trend," said analysts at Brown Brothers Harriman.
By 1220 GMT, the dollar was trading at $1.3860 to the euro, compared with $1.3934 late Monday in New York, and at $0.9804 to the Australian dollar, far removed from the day's high of $0.9957.
The impact of the move was also felt in the commodity markets, as it is likely to slow down China's growth.
"The rationale behind this is that very easy Chinese monetary conditions have been one of the primary drivers for global asset demand (including commodities) and that this start to the rate-hiking cycle will tighten monetary conditions, thus reducing demand from China at the margin," noted RBC Capital Markets.
Spot gold fell around $11 to $1357 per troy ounce, while the benchmark November Nymex crude contract was $1.19 lower at $81.89 per barrel.
Equity markets turned negative on the news, with basic-resources stocks hit hard amid concerns that the higher borrowing costs might stunt Chinese demand for the related commodities.
By 1210 GMT, the Stoxx Europe 600 Basic Resources index was down 2.1%, while the more general Stoxx 600 index was 0.3% lower.
The impact was less obvious in the sovereign debt markets, as the benchmark December German bund contract edged off its lows, before drifting down in line with U.S. Treasurys.
By 1220 GMT, the December bund contract stood at 130.14, 0.42 lower.
The People's Bank of China said in a statement it will raise the one-year yuan lending rate to 5.56% from 5.31%, and the one-year yuan deposit rate to 2.5% from 2.25%, effective Wednesday.
This is the first rate hike by the Chinese central bank in almost three years--since December 2007--and comes as the Beijing government attempts to contain inflation and soaring property prices.
The majority of the impact was felt in the foreign exchange markets, where the U.S. dollar appreciated sharply at the expense of the high-beta currencies, like the Australian, Canadian, and New Zealand dollars.
"In effect, the move by the Chinese has drawn capital out of risk and reaffirmed the recent long-dollar trend," said analysts at Brown Brothers Harriman.
By 1220 GMT, the dollar was trading at $1.3860 to the euro, compared with $1.3934 late Monday in New York, and at $0.9804 to the Australian dollar, far removed from the day's high of $0.9957.
The impact of the move was also felt in the commodity markets, as it is likely to slow down China's growth.
"The rationale behind this is that very easy Chinese monetary conditions have been one of the primary drivers for global asset demand (including commodities) and that this start to the rate-hiking cycle will tighten monetary conditions, thus reducing demand from China at the margin," noted RBC Capital Markets.
Spot gold fell around $11 to $1357 per troy ounce, while the benchmark November Nymex crude contract was $1.19 lower at $81.89 per barrel.
Equity markets turned negative on the news, with basic-resources stocks hit hard amid concerns that the higher borrowing costs might stunt Chinese demand for the related commodities.
By 1210 GMT, the Stoxx Europe 600 Basic Resources index was down 2.1%, while the more general Stoxx 600 index was 0.3% lower.
The impact was less obvious in the sovereign debt markets, as the benchmark December German bund contract edged off its lows, before drifting down in line with U.S. Treasurys.
By 1220 GMT, the December bund contract stood at 130.14, 0.42 lower.
By Peter Nurse, Dow Jones Newswires; +44-20-7842-9288; peter.nurse@dowjones.com
Wednesday, October 13, 2010
Malaysia Indices
Yesterday is a quiet day...
but if we observe the indices, we can see that the Agricultural Indices continue to PICK UP!
FBM Asian Palm Oil - MYR +214.85 (1%)
FBM Asian Palm Oil - USD +224.50 (+1.26%)
Crude Palm Oil Soars 6.5%; USDA Report, External Markets
By Shie-Lynn Lim, Dow Jones Newswires; +603 2026 1233; shie-lynn.lim@dowjones.com
Crude palm oil futures on Malaysia’s derivatives exchange rose close to a 27-month high Monday as investors rushed to cover short positions after a cut to a key U.S. forecast for global crops sent regional grain and vegetable-oil markets higher.
The benchmark December contract on the Bursa Malaysia Derivatives ended MYR170 higher at MYR2,930 a metric ton, after rising as much as 6.5% intraday to MYR2,940/ton, a level not seen since August 2008.
"CPO futures have room to rise more, although they may take a breather to consolidate gains," an executive at Kuala Lumpur-based trading company said. He tipped MYR3,000/ton as the market's next target.
The U.S. Department of Agriculture Friday cut forecasts in its monthly crop yield and stocks outlook, lowering predictions for soybean and corn yields by 2% and 4%, respectively, from a previous estimate, indicating tighter global supplies next year. Soyoil and soybean futures on the bellwether Chicago Board of Trade gained sharply following the report.
During the electronic session Monday, December CBOT soyoil rose as much as 102 points to 47.64 cents a pound. The contract was trading 42 points higher at 0952 GMT.
Leading vegetable-oil analyst Dorab Mistry said recently that global consumption of vegetable oils for food and biofuels will likely grow by six million tons during the year to March 2011, while growth in supply of those oils will likely be a dismal 2.3 million tons, due to adverse weather around the world.
Agricultural futures on the Dalian Commodity Exchange soared to their upper limits, with the May soybean contract rising 4% to a record of CNY4,275/ton.
Market participants mostly ignored the slight drop in the estimates for Malaysia's Oct. 1-10 palm oil exports issued by surveyors Intertek Agri Services and SGS (Malaysia) Bhd, as well as production and stocks data from the government-linked Malaysian Palm Oil Board.
Intertek pegged Oct. 1-10 exports at 395,015 tons, down 0.4% from a month earlier, while SGS put the figure at 382,828 tons, down 0.2%.
MPOB in its monthly report said September CPO output fell 2.7% on month to 1.56 million tons, while end-September stocks rose a tad to 1.71 million tons.
"The MPOB figures are within market expectations and considered as neutral," a Kuala Lumpur-based trading executive said. "Traders are mostly focused on external market cues."
Palm olein cargoes for delivery in April, May and June traded at $980/ton, free-on-board Malaysian ports, a Singapore-based broker said.
Cash CPO for prompt shipment was offered MYR160 higher at MYR2,950/ton.
Open interest on the BMD was 70,178 lots compared with 71,632 lots Friday, while a total of 31,248 lots of CPO were traded, up from 14,443 lots. One lot is equivalent to 25 tons.
Source: http://www.palmoilhq.com/PalmOilNews/asian-crude-palm-oil-soars-6-5-usda-report-external-markets/
There's a link to Dow Jones Newswires on my blog, click to access, my link is updated every 2 days.
-Ayumi-
but if we observe the indices, we can see that the Agricultural Indices continue to PICK UP!
FBM Asian Palm Oil - MYR +214.85 (1%)
FBM Asian Palm Oil - USD +224.50 (+1.26%)
Crude Palm Oil Soars 6.5%; USDA Report, External Markets
By Shie-Lynn Lim, Dow Jones Newswires; +603 2026 1233; shie-lynn.lim@dowjones.com
Crude palm oil futures on Malaysia’s derivatives exchange rose close to a 27-month high Monday as investors rushed to cover short positions after a cut to a key U.S. forecast for global crops sent regional grain and vegetable-oil markets higher.
The benchmark December contract on the Bursa Malaysia Derivatives ended MYR170 higher at MYR2,930 a metric ton, after rising as much as 6.5% intraday to MYR2,940/ton, a level not seen since August 2008.
"CPO futures have room to rise more, although they may take a breather to consolidate gains," an executive at Kuala Lumpur-based trading company said. He tipped MYR3,000/ton as the market's next target.
The U.S. Department of Agriculture Friday cut forecasts in its monthly crop yield and stocks outlook, lowering predictions for soybean and corn yields by 2% and 4%, respectively, from a previous estimate, indicating tighter global supplies next year. Soyoil and soybean futures on the bellwether Chicago Board of Trade gained sharply following the report.
During the electronic session Monday, December CBOT soyoil rose as much as 102 points to 47.64 cents a pound. The contract was trading 42 points higher at 0952 GMT.
Leading vegetable-oil analyst Dorab Mistry said recently that global consumption of vegetable oils for food and biofuels will likely grow by six million tons during the year to March 2011, while growth in supply of those oils will likely be a dismal 2.3 million tons, due to adverse weather around the world.
Agricultural futures on the Dalian Commodity Exchange soared to their upper limits, with the May soybean contract rising 4% to a record of CNY4,275/ton.
Market participants mostly ignored the slight drop in the estimates for Malaysia's Oct. 1-10 palm oil exports issued by surveyors Intertek Agri Services and SGS (Malaysia) Bhd, as well as production and stocks data from the government-linked Malaysian Palm Oil Board.
Intertek pegged Oct. 1-10 exports at 395,015 tons, down 0.4% from a month earlier, while SGS put the figure at 382,828 tons, down 0.2%.
MPOB in its monthly report said September CPO output fell 2.7% on month to 1.56 million tons, while end-September stocks rose a tad to 1.71 million tons.
"The MPOB figures are within market expectations and considered as neutral," a Kuala Lumpur-based trading executive said. "Traders are mostly focused on external market cues."
Palm olein cargoes for delivery in April, May and June traded at $980/ton, free-on-board Malaysian ports, a Singapore-based broker said.
Cash CPO for prompt shipment was offered MYR160 higher at MYR2,950/ton.
Open interest on the BMD was 70,178 lots compared with 71,632 lots Friday, while a total of 31,248 lots of CPO were traded, up from 14,443 lots. One lot is equivalent to 25 tons.
Source: http://www.palmoilhq.com/PalmOilNews/asian-crude-palm-oil-soars-6-5-usda-report-external-markets/
There's a link to Dow Jones Newswires on my blog, click to access, my link is updated every 2 days.
-Ayumi-
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