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Thursday, May 17, 2012

I managed to catch a few comments in the distinct northern accent of Jim O’Neil, the fabled analyst who invented the ‘BRIC’ term, and who has been kicked upstairs to the chairman’s seat at Goldman Sachs International (GS) in London.
Jim thinks that it is still the early days for the space, and that these countries have another ten years…

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Dennis Gartman, of the ever interesting The Gartman Letter, published an interesting analysis on the ‘Monday-Friday’ effect. If you bought every Friday close last year and sold the Monday close, your return would have been 14.20%, versus a 0.42% return on the S&P 500 (SPX). Virtually all the gains would accrue at the Monday morning gap opening.
If you did…

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I opened the e-mail at my usual wake up time of 4:00 am. President Bill Clinton was playing with Tiger Woods at the Presidents’ Cup PGA tournament at the Harding Park Golf Course in San Francisco today. Would I have time for a chat about US economic policy afterwards?
That afternoon, in walked Bill, sunburned from his morning on the…

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A wise trader carefully plans his trades, and often makes an extra effort and “stalks” the perfect entry. Too often, when the time to enter the trade arrives, the tables turn and the opportunity isn’t there anymore.
Staying wise means moving away from the Trade button and waiting for another chance – not hitting it anyway.
You’ve probably heard the …

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Facebook IPO

by Jordi on May 17, 2012

in Featured, Stocks

In light of the upcoming Facebook initial public offering (IPO), I thought I’d share my views on how the company is valued and since they say an image is worth a thousand words, I thought this would be appropriate.
Spread the word if you agree!
Facebook IPO

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With a half hour to go in today’s trading session, over one million put contracts have already been traded on the S&P 500 index, which is about 2 ½ times the average daily volume. This elevated put volume comes on top of 913,000 SPX put contracts yesterday, which was the second highest for 2012.
The one million level is rarely…

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Index Last High Low Daily Change (%) Daily Range (% of ATR)
DJ-FXCM Dollar Index 10098.47 10141.6 10088.66 -0.21 117.63%

USD_Remains_Overbought_JPY_At_Risk_As_Intervention_Threats_Resurface_body_ScreenShot065.png, USD Remains Overbought, JPY At Risk As Intervention Threats Resurface
Although the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) remains 0.24 percent lower from the open, we’re maintaining our bullish outlook for the greenback as it maintains the upward trending channel from earlier this month. As the 30-minute relative strength …

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For those who wisely ignored my advice to sell the SPDR Gold Trust Shares ETF (GLD) June $160 Puts on May 3, good for you. The options are now trading at $10.50 and you have a profit of 147%, adding 14.7% to your annual return. This will no doubt be your home run trade of the year.
If you still…

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Fundamental Headlines
- Jobless Claims in US were Unchanged at 370,000 Last Week – Bloomberg
- Several on FOMC said Easing May Be Needed on Faltering – Bloomberg
- Spain Beset by Bank Crisis, Recession, Bond Pressure – Reuters
- China Overtakes India as Top Gold Consumer – WSJ
- Greece Swears in Caretaker Government – WSJ
European Session Summary

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Talking Points

Euro: Spanish Banks Face Rating Downgrades, RSI Still In Oversold Territory
British Pound: U.K. Sticks To Austerity, Prepares Contingency Plan For Greek Exit
U.S. Dollar: Index Hits Fresh Yearly High, RSI Maintains Upward Trend

Euro: Spanish Banks Face Rating Downgrades, RSI Still In Oversold Territory
The Euro slipped to a fresh monthly low of 1.2660 as the heightening …

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Gold and silver tumbled down again during yesterday along with other commodities prices. The new elections in Greece will be held on June 17. In the meantime the ECB temporarily stopped lending to several Greek banks. Did the minutes of the recent FOMC meeting suggest another QE program on the way? I don’t think so, but you will be the …

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Ron Rowland

I don’t know about you, but here in Texas I can barely drive a mile without passing a JPMorgan Chase (JPM) branch. They’re even inside the grocery stores.
Simply being everywhere doesn’t make a bank safe, of course. As we learned last week, traders in London just cost JPMorgan $2 BILLION and possibly more! Fitch Ratings downgraded its credit rating

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