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June 22 (Bloomberg) — Gold prices slid to a five-week low after the World Bank forecast a deeper contraction in the global economy this year, curbing the appeal of the metal as a hedge against inflation. Silver also dropped.
We’ve upgraded Alberto-Culver(ACV Quote) from hold to buy, driven by its largely solid financial position with reasonable debt levels by most measures, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
With a global start-up preparing to launch the first exchange-traded fund focused on Peru in coming weeks, industry giant Barclays Global Investors has sneaked to the finish line.
On Monday, the soon-to-be BlackRock Global Investors opened the iShares MSCI All Peru Capped Index (NYSE Arca: EPU). It follows an earlier announcement by fledgling Global X Management Co. of a similar ETF. But that fund hasn’t come out yet, although it’s expected to launch soon.
A harsher prediction from the World Bank scared off commodity and stock investors, pushed Treasury yields down.
http://www.forbes.com/2009/06/22/briefing-americas-closer-markets-equities-energy.html
This morning the World Bank reminded us that the recession is a world-wide affair, and that the U.S. is probably gaining share of the world’s economy despite our economic problems. In other words, while it might be bad here, lots of places have it far worse.
We often discuss the NYA Index because that is where the big Institutional Investors do most of their trading due to the volume of their transactions.
We know that over the past several weeks we have seen a significant rise on the interest rate on long treasuries. Of course that means that prices are moving lower, indicating that demand is waning.
Based on a textbook head-and-shoulders top pattern, the downside measured target in the SPDR Gold Shares (NYSE: GLD, Stock Forum) is 89.50,
AS RECENTLY AS LAST week, some analysts were touting technology stocks on the belief that they will beat current expectations. However, the charts are heavy with bearish technicals, suggesting such a promise may be empty.
In a previous article, I developed 10 contrarian ideas to consider for the summer. Since we have just passed the solstice, let’s follow-up.
This ETF was noted at the end of a typically cautionary post in late May as being a vehicle that one might take a look at for some end of rally upside. Recall I had no personal interest however, as I was more focused on preserving gains than adding to them in a high risk enviro.
Direxion issued a press release noting that it was conducting a one-for-two reverse stock split on for its triple-leverage ETF called the Direxion Daily Mid Cap Bear 3X Shares (NYSE: MWN). We have actually been waiting for the exact same news, albeit on a larger reverse split scale, on the financial triple-leverage ETF’s and ETN’s. We feel this needs to occur on the Direxion Daily Financial Bull 3X Shares (NYSE: FAS) and in the Direxion Daily Financial Bear 3X Shares (NYSE: FAZ). These other two ETF’s track the Russell 1000 Financial Services Index with triple leverage, but they are much more volatile because of the derivatives and because there are too many variations in the NAV versus the actual share price at certain times of the day. The low share prices also allow even the smallest of fast money traders to get in and out with too little skin in the game.
Each week, I like to publish the past week’s hottest ETFs to share some new trends and niche ETFs out there and give investors some new ideas. For this week, short leveraged ETFs were extremely hot in the energy and emerging markets sectors especially.
MONACO, June 22 (Reuters) – Fund firms have been spooked by the rise of exchange traded funds (ETFs) in the wake of the market meltdown, delegates at the annual Fund Forum asset management industry conference said on Monday
To a great extent, all actively managed equity mutual funds have benefited from the stock market rally over the past three months. Fund inflows have rebounded dramatically and stock prices of the asset management companies themselves have roughly doubled since Mar. 9. But enthusiasm toward stocks has cooled in the past two weeks as the markets more carefully weigh the considerable obstacles that the U.S. economy needs to surmount before it can return to health.
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