Photo Credit: Tech In Asia – Alexander Rusli (center left), CEO of Indosat Indonesian telco company Indosat, in collaboration with Qatar National Bank (QNB), launched a mobile money ATM card this week, CNN Indonesia reports. The card is integrated with Indosat’s ewallet feature Dompetku, which now claims to be the first mobile money provider in Indonesia with a parallel ATM…
Cheniere Energy, Inc. (LNG – Snapshot Report) plans to raise $11.5 billion in debt for its Corpus Christi export facility and has engaged 18 financial institutions for the same. Following the announcement, shares of Cheniere gained around 1.5% on the NYSE. The company plans to use the funds for development of its Corpus Christi Liquefaction Project in Texas….
China faces epic unintended consequences in its efforts to ‘manage’ everything. As Bloomberg rhetorically asks, what if a central bank cut interest rates and borrowing costs rose? Well that didn’t work out as expected, eh? The reason is simple – the leveraged-speculative surge into Chinese stocks triggered by the “easy” rate-cuts sparked a major rotation from bonds into…
DOW -99.99 = 17,180 SPX – 12 = 1989 NAS – 48 = 4605 10 YR YLD + .01 = 2.11% OIL – 2.53 = 55.28 GOLD – 28.30 = 1194.50 SILV – .85 = 16.29 The S&P 500 index traded below its 50 day moving average for the first time since the end of…
T2108 Status: 29.7%T2107 Status: 39.6%VIX Status: 20.4 (actually DROPPED 3.1%)General (Short-term) Trading Call: Fresh buys only on close above 50DMA or oversold conditionsActive T2108 periods: Day #40 over 20%, Day #38 over 30%, Day #2 under 40% (underperiod), Day #4 under 50%, Day #8 under 60%, Day #110 under 70% Reference Charts (click for view of…
The Chart of the Day belongs to Spansion (NYSE:CODE). I found the semiconductor company when I sorted the All Time High list for the stocks with the most frequent new highs then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 10/31 the stock shot up 55.49%. Spansion Inc., headquartered in Sunnyvale, California, is…
Shares of Opko Health (OPK) gained 8% today after the company announced that it had formulated a partnership agreement with Pfizer (PFE) for developing and testing a drug to be used against Growth Hormone Deficiency — GHD. Opko will receive an upfront payment of $295 million and potential milestone payments of $275 million as the…
Biotech stocks joined the market sell-off again with all ETFs hit hard.The most volatile XBI was down 4.27% today and 3.55% over 5 days.Technical support is right about here $175.89, next at $170. During the mid-October swoon the XBI hit near $145. YTD the XBI is still up 35%. The FBT still leads the ETF pack,…
This particular batch of sarcasm uses the Commonwealth Club “Week to Week Political Roundtable” event for inspiration. I attended that panel and listened to local journalists hold forth on some newsworthy events. I will address a few of those events below, laden with sarcasm that no one else in the financial sector can deliver. The…
Copper has created a bearish descending triangle over the past few years. This pattern leads to lower prices two-thirds of the time. Copper broke support of late and last week rallied to the underside of the pattern, kissing resistance. Watch ole Doc Copper, this could be a “kiss good-bye” for this important leading indicator….
