Tuesday, March 10, 2009
Sunday, March 08, 2009
8:01 pm - Market Outlook by Bill Wermine
Dear Traders,
Next Saturday and Sunday, 14 15 March , Martin and I will be at the ATIC Investors conference at the KL Convention Center. I will be speaking on Support and Resistance Simplified at 9 AM on Saturday. Martin will be at our table to showcase his new CD - Point and Figure Simplified as well as our CD Support and Resistance Simplified which is a video shoot of the presentation I will deliver. Price for these CDs is very reasonable.
If you would like a free ticket to the ATIC click on the banner at the bottom of my home page- www.Tradethetruth.com
There will be many speakers including trader Darul Guppy who is very straightforward, simple and the real deal. I urge you to come and listen to him as well as the other speakers. There is bound to be something that can improve your trading results.
Expect more range trading next week in the KLSE but stability due to strength in CPO.
Until the banking crises in the US is resolved which is having spill over effects in all the world markets, don't expect much movement in the KLSE.
Since Obama took power the Dow Jones has collapsed over 20 % and unemployment has jumped to 25 year highs. General Motors has fallen to a 75 year low. It seems the market is a good judge of Obama's character. Remember price and volume never lie and the truth is that Obama has failed miserably.
When I started in this business in 1974 , my mentor told me that GM was a bellweather for the US Stock market. This is because of exposure to steel, rails, high tech, copper, rubber and a host of other vital industries including defense. Now the Dow is about to lose a company which is a reflection of the economic health of the US economy. Thousands more workers will lose their jobs.
Obama is not taking the decisive steps to save the sinking ship. He still panders to special interests, chronies, union bosses,
and the powerful political elite. He promised to shut down the Iraq war but he does so gradually and reluctantly while sending thousands of more troops to Afganistan to fight in a quagmire. The Afgans have never been defeated- the British, Russians tried and failed- Do you think the Americans can do any better ?
The winners are the same political interests and favored defense contractors who benefited from the Bush administration.These special inrests will support Obama in the next election with handsome campeign contributions. Business as usual.
What can we do ? We can not fight city hall. Learn to short sell/ trade KLSE futures/ trade currencies/ commodities such as CPO and profit from the man made credit disaster created by the Wall St con artists. Upgrade your trading knowledge
If you wish to invest, Man AHL is the only investment I recommend at this moment as it profits the most when the world economy is at its worst.I invite you to check its performance- one of the few funds that made money in 2008. Call me or Martin if you want to invest. http://www.maninvestments.com.au/ahldiversifiedaud/index.cfm?r_id=CANOPUS&CFTOKEN=57794096
Have a good week ahead,
Bill
Next Saturday and Sunday, 14 15 March , Martin and I will be at the ATIC Investors conference at the KL Convention Center. I will be speaking on Support and Resistance Simplified at 9 AM on Saturday. Martin will be at our table to showcase his new CD - Point and Figure Simplified as well as our CD Support and Resistance Simplified which is a video shoot of the presentation I will deliver. Price for these CDs is very reasonable.
If you would like a free ticket to the ATIC click on the banner at the bottom of my home page- www.Tradethetruth.com
There will be many speakers including trader Darul Guppy who is very straightforward, simple and the real deal. I urge you to come and listen to him as well as the other speakers. There is bound to be something that can improve your trading results.
Expect more range trading next week in the KLSE but stability due to strength in CPO.
Until the banking crises in the US is resolved which is having spill over effects in all the world markets, don't expect much movement in the KLSE.
Since Obama took power the Dow Jones has collapsed over 20 % and unemployment has jumped to 25 year highs. General Motors has fallen to a 75 year low. It seems the market is a good judge of Obama's character. Remember price and volume never lie and the truth is that Obama has failed miserably.
When I started in this business in 1974 , my mentor told me that GM was a bellweather for the US Stock market. This is because of exposure to steel, rails, high tech, copper, rubber and a host of other vital industries including defense. Now the Dow is about to lose a company which is a reflection of the economic health of the US economy. Thousands more workers will lose their jobs.
Obama is not taking the decisive steps to save the sinking ship. He still panders to special interests, chronies, union bosses,
and the powerful political elite. He promised to shut down the Iraq war but he does so gradually and reluctantly while sending thousands of more troops to Afganistan to fight in a quagmire. The Afgans have never been defeated- the British, Russians tried and failed- Do you think the Americans can do any better ?
The winners are the same political interests and favored defense contractors who benefited from the Bush administration.These special inrests will support Obama in the next election with handsome campeign contributions. Business as usual.
What can we do ? We can not fight city hall. Learn to short sell/ trade KLSE futures/ trade currencies/ commodities such as CPO and profit from the man made credit disaster created by the Wall St con artists. Upgrade your trading knowledge
If you wish to invest, Man AHL is the only investment I recommend at this moment as it profits the most when the world economy is at its worst.I invite you to check its performance- one of the few funds that made money in 2008. Call me or Martin if you want to invest. http://www.maninvestments.com.au/ahldiversifiedaud/index.cfm?r_id=CANOPUS&CFTOKEN=57794096
Have a good week ahead,
Bill
Saturday, March 07, 2009
8:45 am - A late bounce Friday pared heavy losses on the stock market for the week
By Peter A. McKay and Rob Curran
A late bounce Friday pared heavy losses on the stock market for the week as bargain hunters came in tohelp General Electric recover some of its losses.GE rose 6% to $7.06, but remained down 17% on the week."People are going to pull their money back," said Frank Beck, chief investment officer at Capital FinancialGroup in Austin, Texas. "Really, how much demand is there for stocks? You can look at all the great fundamentalsin world, but if there's not a demand for the stock, it really doesn't matter. I learned that point blankin the last few months."Friday, a Labor Department report showed nonfarm payrolls declined 651,000 in February and that job lossesin the two previous months were worse than thought. The unemployment rate rose to 8.1%, the highest sinceDecember 1983. Some economists think it could hit 10% by the end of next year.Fears that some iconic companies would have to seek yet more government assistance continue to rise.General Motors fell 41 cents, or 22%, to 1.45, and declined 36% on the week. The auto maker said it stillaims to restructure its business without recourse to bankruptcy courts. The Wall Street Journal had reportedthat GM was weighing a "prepackaged" bankruptcy option.Citigroup tacked on a penny, or 1%, to 1.03, and lost 31% on the week as traders retreated from the equityof a bank that's had three successive rescues from the U.S. government.The Dow closed up 32.50 points at 6626.94, but is off 6.1% on the week.The S&P 500 Index finished up slightly 0.12% to 683.38. The tech-oriented Nasdaq Composite Index slid0.4% at 1294, as Apple fell 4% after analysts at J.P. Morgan cut their estimates for the computer and(Mary Pilon and Geoffrey Rogow contributed to this report.)You can use this link on the day this article is published and the following day.-0-Copyright (c) 2009 Dow Jones & Company, Inc.
A late bounce Friday pared heavy losses on the stock market for the week as bargain hunters came in tohelp General Electric recover some of its losses.GE rose 6% to $7.06, but remained down 17% on the week."People are going to pull their money back," said Frank Beck, chief investment officer at Capital FinancialGroup in Austin, Texas. "Really, how much demand is there for stocks? You can look at all the great fundamentalsin world, but if there's not a demand for the stock, it really doesn't matter. I learned that point blankin the last few months."Friday, a Labor Department report showed nonfarm payrolls declined 651,000 in February and that job lossesin the two previous months were worse than thought. The unemployment rate rose to 8.1%, the highest sinceDecember 1983. Some economists think it could hit 10% by the end of next year.Fears that some iconic companies would have to seek yet more government assistance continue to rise.General Motors fell 41 cents, or 22%, to 1.45, and declined 36% on the week. The auto maker said it stillaims to restructure its business without recourse to bankruptcy courts. The Wall Street Journal had reportedthat GM was weighing a "prepackaged" bankruptcy option.Citigroup tacked on a penny, or 1%, to 1.03, and lost 31% on the week as traders retreated from the equityof a bank that's had three successive rescues from the U.S. government.The Dow closed up 32.50 points at 6626.94, but is off 6.1% on the week.The S&P 500 Index finished up slightly 0.12% to 683.38. The tech-oriented Nasdaq Composite Index slid0.4% at 1294, as Apple fell 4% after analysts at J.P. Morgan cut their estimates for the computer and(Mary Pilon and Geoffrey Rogow contributed to this report.)You can use this link on the day this article is published and the following day.-0-Copyright (c) 2009 Dow Jones & Company, Inc.
Friday, March 06, 2009
Thursday, March 05, 2009
Wednesday, March 04, 2009
Tuesday, March 03, 2009
Monday, March 02, 2009
Saturday, February 28, 2009
8:09 am - U.S. stocks pushed to newer bear market lows
By Geoffrey Rogow Of DOW JONES NEWSWIRESNEW YORK (Dow Jones)--U.S. stocks pushed to newer bear market lows as an expanded federal rescue of Citigroupand a dividend cut for General Electric hit even more of their share values and the broader market.In the last day of trading for February, traders did exactly what they had for most of the month, eitherselling out of or shorting large banking stocks. Pacing off the day's decline, Citigroup closed down96 cents, or 39%, at 1.50, after the U.S. Treasury Department said it is willing to convert up to $25billion of its preferred stock holdings into common stock in a move that would give the government a36% share of the giant bank.Over the last few weeks, concern that banks would need even more capital has damped share prices acrossthe sector. And those few traders willing to even play in banking stocks are mostly holding short positions.According to Data Explorers, a short-selling data research firm based in New York and London, 2.6% ofCitigroup is now out on loan, up nearly 38% from just less than two weeks ago."I don't plan on buying any banks anytime soon. That industry is going to zero, some winners, some losers,"said Keith Walter, a portfolio manager at Artio Global Investors.With the slide for banking stocks, the Dow Jones Industrial Average closed down 119.15 points, or 1.66%,at 7062.93, marking its lowest point since April of 1997 and surpassing its previous bear market lowof 7114.78, hit on Monday. The index lost 302.74 points, or 4.11%, for the week.The Dow, which dropped 12% this month, had its worst February since 1933. During the month, 20 of the30 components reset their 52-week lows, with 13 hitting 52-week lows at some point during Friday's session.Meanwhile, the broad Standard & Poor's 500 fell 17.74, or 2.36%, to 735.09, pushing to its lowest closesince Dec. 18, 1996. The S&P 500 lost 34.96 points, or 4.54%, for the week, and 90.79, or 10.99%, forthe month. Financial stocks in the index paced Friday's decline, losing more than 7%.The Nasdaq Composite Index closed down 13.63, or 0.98%, at 1377.84, though the index remains above itsNov. 20 closing low of 1316.12. For the week, the Nasdaq lost 63.39, or 4.4%, and for the month, it lost98.58, or 6.68%.Further damping the broad indexes, General Electric said its board is expected to slash the dividend to10 cents from 31 cents starting in the second-half of the year. The stock closed off 59 cents, or 6.5%,at 8.51.Investors were also given little to celebrate on the economic-data front as a revised report showed theU.S. economy slumped more deeply than previously thought in the fourth quarter. As the tone on banksand the economy continues to weaken, the government has moved aggressively with both the stimulus packagepassed this week and the latest backstop for Citigroup.Still, that the government has had to come in so aggressively, in itself has given many reason to further stay away from stocks."That the marginal buyer of assets in this country is the federal government is not a good indicationof how free the capital markets are," said Nicholas Colas, chief market strategist at BNY ConvergEx.(David Benoit contributed to this report.)You can use this link on the day this article is published and the following day.-0-Copyright (c) 2009 Dow Jones & Company, Inc.
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