Oil Quest for the golden cross

Oil Quest for the golden cross RELATED QUOTES Symbol Price Change MA 348.79 +0.96 XOM 85.83 -0.94 PFE 21.48 -0.15 K 49.73 -0.26 TRI 27.82 -0.10 By Rodrigo Campos NEW YORK (Reuters) - January has turned out strong for equities with just two trading days to go. If you're afraid to miss the ride, there's still time to jump in. You just might want to wear a neck brace. The new year lured buyers into growth-related sectors, the ones that were more beaten down last year. The economy is getting better, but not dramatically. Earnings are beating expectations, but at a lower rate than in recent quarters. Nothing too bad is coming out of Europe's debt crisis - and nothing good, either - at least not yet. 'No one item is a major positive, but collectively, it's been enough to tilt it towards net buying,' said John Schlitz, chief market technician at Instinet in New York. Still, relatively weak volume and a six-month high hit this week make some doubt that the gains are sustainable. But then there's the golden cross. Many market skeptics take notice when this technical indicator, a holy grail of sorts for many technicians, shows up on the horizon. As early as Monday, the rising 50-day moving average of the S&P 500 could tick above its rising 200-day moving average. This occurrence - known as a golden cross - means the medium-term momentum is increasingly bullish. You have a good chance of making money in the next six months if you put it to work in large-cap stocks. In the last 50 years, according to data compiled by Birinyi Associates, a golden cross on the S&P 500 has augured further gains six months ahead in eight out of 10 times. The average gain has been 6.6 percent. That means the benchmark is on solid footing to not only hold onto the 14 percent advance over the last nine weeks, but to flirt with 1,400, a level it hasn't hit since mid-2008. The gains, as expected, would not be in a straight line. But any weakness could be used by long-term investors as buying opportunities. 'The cross is an intermediate bullish event,' Schlitz said. 'You have to interpret it as constructive, but I caution people to take a bullish stance, if they have a short-term horizon .' GREECE, U.S. PAYROLLS AND MOMENTUM Less than halfway into the earnings season and with Greek debt talks over the weekend, payrolls data next week and the S&P 500 near its highest since July, there's plenty of room for something to go wrong. If that happens, the market could easily give back some of its recent advance. But the benchmark's recent rally and momentum shift allow for a pullback before the technical picture deteriorates. 'We bounced off 1,325, which is resistance. We're testing 1,310, which should be support. We are stuck in that range,' said Ken Polcari, managing director at ICAP Equities in New York. 'If over the weekend, Greece comes out with another big nothing, then you will see further weakness next week,' he said. 'A 1 (percent) or 2 percent pullback isn't out of the question or out of line.' On Friday, the S&P 500 (Chicago Options:^INX - News) and the Nasdaq Composite (Nasdaq:^IXIC - News) closed their fourth consecutive week of gains, while the Dow Jones industrial average (DJI:^DJI - News) dipped and capped three weeks of gains. For the day, the Dow dropped 74.17 points, or 0.58 percent, to close at 12,660.46. The S&P 500 fell 2.10 points, or 0.16 percent, to 1,316.33. But the Nasdaq gained 11.27 points, or 0.40 percent, to end at 2,816.55. For the week, the Dow slipped 0.47 percent, while the S&P 500 inched up 0.07 percent and the Nasdaq jumped 1.07 percent. A DATA-PACKED EARNINGS WEEK Next week is filled with heavy-hitting data on the housing, manufacturing and employment sectors. Personal income and consumption on Monday will be followed by the S&P/Case-Shiller home prices index, consumer confidence and the Chicago PMI - all on Tuesday. Wednesday will bring the Institute for Supply Management index on U.S. manufacturing and the first of three key readings on the labor market - namely, the ADP private-sector employment report. Jobless claims on Thursday will give way on Friday to the U.S. government's non-farm payrolls report. The forecast calls for a net gain of 150,000 jobs in January, according to economists polled by Reuters. Another hectic earnings week will kick into gear with almost a fifth of the S&P 500 components posting quarterly results. Exxon Mobil (NYSE:XOM - News), Amazon (NasdaqGS:AMZN - News), UPS (NYSE:UPS - News), Pfizer (NYSE:PFE - News), Kellogg (NYSE:K - News) and MasterCard (NYSE:MA - News) are among the names most likely to grab the headlines. With almost 200 companies' reports in so far, about 59 percent have beaten earnings expectations - down from about 70 percent in recent quarters. (Reporting by Rodrigo Campos; Additional reporting by Chuck Mikolajczak and Caroline Valetkevitch; Editing by Jan Paschal)

Signals FRCN - Stock Moves Over 100%

Signals

I made FRCN a chart to watch and posted about it earlier stating I liked it for a bottom trade:  http://pennystockgurus.blogspot.com/2012/06/frcn-bottom-trade.html

BEFORE:

AFTER

Forex Markets holding gains

Forex

Market continue to hold recent gains. Any small dip is bought. A consolidation near recent high sets the market up for possible upside breakout.

Below the surface the earnings season has created lot of breakouts. Those stocks after small pullbacks are prime candidates for possible upside.

Some of the stocks setting up well are:

ew

wag

hsy

jah


Besides that lot of stocks are also having nice consolidation near high. 

Signals Exxon to sell part of Tonen stake for about $3.9 billion:sources

Signals Exxon to sell part of Tonen stake for about $3.9 billion:sources RELATED QUOTES Symbol Price Change TRI 27.82 -0.10 XOM 85.83 -0.94 By Taro Fuse and Emi Emoto TOKYO (Reuters) - Exxon Mobil (NYSE:XOM - News) plans to sell a large part of its 50 percent stake in TonenGeneral Sekiyu KK (:5012.T) back to its Japanese refining partner in a deal that could be worth about 300 billion yen ($3.9 billion), and will make an announcement as early as Monday, four sources with direct knowledge of the matter said. Exxon Mobil will retain about a 20 percent stake in TonenGeneral but the deal will mark a de facto retreat from the world's third-largest economy by the U.S. oil giant, which is focusing its resources on emerging markets and development of natural resources. The move could also spark realignment among Japan's oil refiners, which have been cutting capacity to cope with falling demand caused by a weak economy and a shift to more efficient and environmentally friendly forms of energy, analysts have said. Reuters reported earlier this month that Exxon was in talks to sell part of the stake back to TonenGeneral. TonenGeneral, which imports and distributes Exxon oil in Japan, ranks as the country's No. 2 refiner behind JX Holdings (:5020.T). Smaller rivals include Idemitsu Kosan Co (:5019.T), Cosmo Oil (:5007.T) and Showa Shell (:5002.T). Exxon and TonenGeneral aim to complete the deal around summer, the sources told Reuters on condition of anonymity. TonenGeneral will seek funds from Sumitomo Mitsui Banking Corp, Sumitomo Trust Banking, Bank of Tokyo Mitsubishi UFJ and Mitsubishi Trust Bank to buy back the stake, the sources said. ($1 = 76.7350 Japanese yen) (Reporting by Taro Fuse and Emoto Emi; Writing by Kaori Kaneko; Editing by Chris Gallagher and Ed Lane)

Signals SAGD Running After The Dump

Signals

SAGD had a strong showing today and has made a nice move off its dump lows.  We could see the stock move back over $.01 if this momentum and buying pressure continue.

Forex France loses AAA-rating in blow to eurozone

Forex PARIS (AP) -- France's finance ministry says Standard & Poor's has cut the country's credit rating by one notch to AA. France's loss of its AAA-rating deals a heavy blow to the eurozone's ability to fight off its debt crisis. The country is the second-largest contributor to the currency union's bailout fund. S&P in December put 15 eurozone countries on creditwatch and other downgrades were expected later Friday. The cut in France's creditworthiness could also hurt President Nicolas Sarkozy's re-election chances. THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below. ROME (AP) -- Europe's ability to fight off its debt crisis was again thrown into doubt Friday when the euro hit its lowest level in over a year and borrowing costs rose on expectations that the debt of several countries would be downgraded by rating agency Standard & Poor's. Stock markets in Europe and the U.S. plunged late Friday when reports of an imminent downgrade first appeared and the euro fell to a 17-month low. The fears of a downgrade brought a sour end to a mildly encouraging week for Europe's heavily indebted nations and were a stark reminder that the 17-country eurozone's debt crisis is far from over. Earlier Friday, Italy had capped a strong week for government debt auctions, seeing its borrowing costs drop for a second day in a row as it successfully raised as much as euro4.75 billion ($6.05 billion). Spain and Italy completed successful bond auctions on Thursday, and European Central Bank president Mario Draghi noted 'tentative signs of stabilization' in the region's economy. A credit downgrade would escalate the threats to Europe's fragile financial system, as the costs at which the affected countries — some of which are already struggling with heavy debt loads and low growth — could borrow money would be driven even higher. The downgrade could drive up the cost of European government debt as investors demand more compensation for holding bonds deemed to be riskier than they had been. Higher borrowing costs would put more financial pressure on countries already contending with heavy debt burdens. In Greece, negotiations Friday to get investors to take a voluntary cut on their Greek bond holdings appeared close to collapse, raising the specter of a potentially disastrous default by the country that kicked off Europe's financial troubles more than two years ago. The deal, known as the Private Sector Involvement, aims to reduce Greece's debt by euro100 billion ($127.8 billion) by swapping private creditors' bonds with new ones with a lower value, and is a key part of a euro130 billion ($166 billion) international bailout. Without it, the country could suffer a catastrophic bankruptcy that would send shock waves through the global economy. Prime Minister Lucas Papademos and Finance Minister Evangelos Venizelos met on Thursday and Friday with representatives of the Institute of International Finance, a global body representing the private bondholders. Finance ministry officials from the eurozone also met in Brussels Thursday night. 'Unfortunately, despite the efforts of Greece's leadership, the proposal put forward ... which involves an unprecedented 50 percent nominal reduction of Greece's sovereign bonds in private investors' hands and up to euro100 billion of debt forgiveness — has not produced a constructive consolidated response by all parties, consistent with a voluntary exchange of Greek sovereign debt,' the IIF said in a statement. 'Under the circumstances, discussions with Greece and the official sector are paused for reflection on the benefits of a voluntary approach,' it said. Friday's Italian auction saw investors demanding an interest rate of 4.83 percent to lend Italy three-year money, down from an average rate of 5.62 percent in the previous auction and far lower than the 7.89 percent in November, when the country's financial crisis was most acute. While Italy paid a slightly higher rate for bonds maturing in 2018, which were also sold in Friday's auction, demand was between 1.2 percent and 2.2 percent higher than what was on offer. The results were not as strong as those of bond auctions the previous day, when Italy raised euro12 billion ($15 billion) and Spain saw huge demand for its own debt sale. 'Overall, it underscores that while all the auctions in the eurozone have been battle victories, the war is a long way from being resolved (either way),' said Marc Ostwald, strategist at Monument Securities. 'These euro area auctions will continue to present themselves as market risk events for a very protracted period.' Italy's euro1.9 trillion ($2.42 trillion) in government debt and heavy borrowing needs this year have made it a focal point of the European debt crisis. Italy has passed austerity measures and is on a structural reform course that Premier Mario Monti claims should bring down Italy's high bond yields, which he says are no longer warranted. Analysts have said the successful recent bond auctions were at least in part the work of the ECB, which has inundated banks with cheap loans, giving them ready cash that at least some appear to be using to buy higher-yielding short-term government bonds. Some 523 banks took euro489 billion in credit for up to three years at a current interest cost of 1 percent. ___ Steinhauser contributed from Brussels. AP Business writer David McHugh in Frankfurt contributed.

Earn Student Loan Crisis Looms: FICO Risk Survey

Earn Daily Ticker Despite recent headlines cheering positive trends in the economy, there is still much to be concerned about, according to FICO's new quarterly survey of bank risk professionals. More than two-thirds of risk managers are seriously concerned about the debt loads held by students in the country. 67% of respondents believe delinquencies of student loans will rise, up a considerable 19% from the previous survey. 'They are worried about the amount of student loans that are out there and the ability of those students to repay them,' says Mark Greene, CEO of FICO, which provides credit scores used by both consumers and creditors and is widely considered the industry standard. With tuition prices on the rise each and every year, it is no surprise that the total amount borrowed is also on the upswing. The student who graduated in the class of 2009 had an average of $24,000 in student loans. But that's just the average. Some students are accountable for sums totaling $100,000. (See: The Economic Agony of Today's Twenty-Somethings) The Federal Reserve reported last year that student debt has actually surpassed credit card debt and predicts the total amount owed has topped $1 trillion. Greene's advice to students is: 'Be careful what you borrow.' 'Clearly education has a great return on investment so there is no suggestion you should avoid taking out loans, but be careful what you are getting into,' he says. 'Manage your student loans as carefully as you would your mortgage, your credit card or something else.' Other problem areas listed in the survey include credit card debt and mortgage debt. Credit card debt increased 8.5% to $5.6 billion in November from October, the biggest gain since March 2008. 45% of risk managers surveyed expect credit card delinquencies to rise while 21% expect a decline. And 54% of respondents believe credit card balances will rise. Those figures are more pessimistic than the previous quarter. As for mortgage debt, 47% of risk managers predict mortgage delinquencies will rise while 13% expect to see a decrease. 'If you are looking for risk managers to declare that we've turned the corner, they are not declaring that yet,' says Greene. Do you think the economy is improving or still has a long way to go? More from The Daily Ticker: Forget Harvard and a 4-Year Degree, You Can Make More as a Plumber in the Long Run, Says Prof. Kotlikoff Brain Drain: Most College Students Learn Next to Nothing, New Study Says Jame's Altucher's 8 Alternatives to College Related Quotes: ^GSPC 1,292.18 -0.30 -0.02% BAC 6.76 -0.11 -1.60% C 31.36 +0.09 +0.29% GS 98.96 -0.80 -0.80% JPM 36.44 -0.22 -0.60% WFC 29.54 -0.08 -0.29% PNC 61.51 +0.21 +0.34% FAZ 31.80 +0.23 +0.72% FAS 75.30 -0.53 -0.70% XLF 13.83 -0.04 -0.26% ^DJI 12,432.54 -16.91 -0.14% DFS 26.16 +0.30 +1.16% V 100.99 +1.88 +1.90% MA 342.76 +1.29 +0.38% MS 16.92 -0.18 -1.05%

Earn Bloomberg exec in talks to run New Corp's Dow Jones

Earn Bloomberg exec in talks to run New Corp's Dow Jones RELATED QUOTES Symbol Price Change NWSA 18.88 +0.06 TRI.TO 27.80 -0.14 APKN.PK 0.012 0.00 TRI 27.82 -0.10 (Reuters) - Rupert Murdoch's News Corp is in 'serious talks' to poach veteran Bloomberg LP executive Lex Fenwick to run its Dow Jones publishing business, which houses the Wall Street Journal, according to two people familiar with the discussions. Fenwick, who founded Bloomberg Ventures in 2008, was previously chief executive of Bloomberg LP, taking over from the company founder Michael Bloomberg in December 2001. Wall Street Journal reported news of the talks earlier on Friday. The top job at Dow Jones has been vacant since last July when then-Publisher and Chief Executive Les Hinton resigned in the wake of the phone-hacking scandal at News Corp's UK newspaper unit, which had previously run. Hinton told a UK parliamentary inquiry in 2009 that any problem with phone hacking at the company's papers was limited to one case. It was later revealed that thousands of ordinary people and celebrities had been the victims of the voice mail hacking. Hinton, who worked with News Corp for 52 years, was perhaps Murdoch's closest associate. Bloomberg and Dow Jones compete with Thomson Reuters. (Reporting By Yinka Adegoke; Editing by Steve Orlofsky)

Earn BRICS call for open selection of next World Bank chief

Earn BRICS call for open selection of next World Bank chief MEXICO CITY (Reuters) - A meeting of BRICS major emerging countries discussed the selection process of the next head of the World Bank and emphasized it should be open to all countries, rejecting the tradition that the job automatically goes to an American, a senior BRIC official said on Saturday. The official, speaking after a meeting of the BRICS - Russia, South Africa, Brazil, India and China - said the United States had not circulated the name of its proposed candidate for the World Bank. Asked whether emerging economies could field their own candidate for the post, the official said: 'That is certainly a discussion we will have.' (Reporting By Lesley Wroughton; Editing by Chizu Nomiyama)

Oil U.S. did not call for strategic oil release: G20 sources

Oil U.S. did not call for strategic oil release: G20 sources U.S. Treasury Secretary Timothy Geithner (C) and Chairman of Grupo Financiero Banorte Guillermo Ortiz (L) arrive to a meeting of Group of Twenty (G20) leading economies' finance ministers and central bankers in Mexico City February 25, 2012. REUTERS/Tomas Bravo MEXICO CITY, Reuters (Feb 25) - The United States did not openly call for a release of countries' strategic oil reserves during Group of 20 meetings this weekend, Group of 20 sources said on Saturday. Treasury Secretary Timothy Geithner said on Friday the United States is considering a release from its strategic oil reserves as rising tensions between Iran and the West over its disputed nuclear program fueled a rise in oil prices. At meeting of G20 economies on Saturday, two people familiar with the discussion said finance officials had discussed the risk to the world economy from oil prices, which rose above $125 a barrel on Friday, but the United States did not push for a release of strategic reserves. Countries hold oil reserves as a buffer against sudden drops in supply. A draft communique for the G20 meeting, which is still under discussion, said high oil prices were a risk to the global economy, the sources said, although the outlook was cautiously optimistic. 'The communique says that there are some positive signs in the global economy, coming especially from the U.S. economy, but they are tentative,' one G20 official said. (Reporting by Francesca Landini and Dave Graham; Writing by Krista Hughes)