Today's News and Commentary
Friday, November 21, 2008
MARKET COMMENTARY
The Yield on the 30-Year Bond – Daily and weekly supports are 3.892 and 4.101 with annual resistance at 3.141. This flight to quality has reached ridiculous proportions.
Comex Gold – Daily and weekly supports are $725.2 and $690.1 with annual and monthly pivots at $729.5 and $729.7, and semiannual and weekly resistances at $796.5 and $823.6.
Nymex Crude Oil – Weekly support is $42.67 with a daily pivot at $47.09, and annual resistances at $76.30 and $78.40. The 120-month simple moving average is $46.82.
The Euro – Weekly support is 1.1901 with...
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ENERGY
The only party on Wall Street this Thanksgiving will be the bears as they celebrate their windfall profits from a nearly 50% sell off in the equity markets. The commodity markets have seen drops of more than 65% from the highs.
Crude oil closed under $50 on Thursday in New York as the December contract expired. It was not specifically an oil story taking the prices down but an imploding stock market on rising fears of a severe global recession. When panic hits the streets nothing is safe. The intraday low on crude was $48.64 and a level not seen since May 2005....
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DIVIDEND
I was very careful to be both 4,500 miles to the rear and not yet born while Leningrad was under siege during WWII. But somehow, with this constant, endless, thudding daily barrage of bad news, I do have a vague notion of how the locals must have felt. The 21st Century Investor Dividend Portfolio, like dividend stocks in general, hasn't been spared the pain although I would add that only three of our positions have cut their dividends at all, while some other positions have actually been raising them. It pays to make sure payouts can be sustained — although even many companies with...
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HEDGEFUND
One of the greatest investments in the history of capitalism took place in 1991, when Saudi Arabia’s Prince Alwaleed bin Talal acquired a 15% stake in Citibank at the absolute bottom of the market. Citibank was flirting with bankruptcy due to some spectacularly bad real-estate investments. The prince was rich to start with, but this investment, which proved lucrative beyond all expectations, made him the sort of fellow who buys an Airbus 380 as his personal jet.
Now Prince Alwaleed is returning to the scene of his greatest triumph, increasing his stake in what is now called...
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Below are several sites that provide short-term guidance for
short-term traders.
Phil Erlanger's goodmorningwallst.com
Here is a link to sign up for Phil Erlanger's
goodmorningwallst.com site. He emails daily comments, education and market
commentary.
http://www.goodmorningwallst.com/
Rightside.com
Rightside.com and Chief Market Strategist Richard Suttmeier
provides daily news and commentary that could be helpful to investors and
traders. The news and commentary section is a free service. Here is the link to
the rightside.com website.
http://www.rightside.com/
Mohan's Market Force provides a daily market outlook for the S
& P Mini futures market.
Here is the link to the "Mohan's Market Force".
