Market Update
Amazon shares got a boost after Morgan Stanley raised its price target claiming that investors are underestimating a significant shift in the retail sector that will benefit the online retailer.
In a note to clients Morgan Stanley raised its price target on Amazon from $205 to $225 — one of the highest targets on Wall Street for the stock, which has jumped more than 10% in value over the past two weeks, but remains below its all-time peak above the $191 mark from mid-January.
Shares of Amazon were up 3.3% to $180.44 by late Wednesday afternoon.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 00:30 AUD Retail Sales m/m
- 09:00 EUR CPI Flash Estimate y/y
- 12:30 CAD GDP m/m
- 12:30 USD Unemployment Claims
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Stock Hot Pick of the Day (85% Return)
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Lloyds is now in a downtrend.
Advanced Traders: Lloyds has been in a wide descending channel chart pattern for the past 4 weeks, now reaching support at 58.
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Market Update
Portugal was dealt yet another blow in its effort to avoid a bailout Tuesday, as a downgrade by Standard & Poor’s left Portugals credit rating one notch above junk status.
Standard & Poor’s Ratings Services lowered its rating on Portugal to BBB- from BBB, where it had been placed last week following the resignation of Jose Socrates as prime minister. Socrates decided to step down after his government was unable to win passage of crucial austerity measures.
S&P said the cut was prompted by worries that a restructuring of sovereign debt could be a prerequisite for borrowing from the European Stability Mechanism, which will replace the European Union’s existing bailout fund, known as the European Financial Stability Facility, in mid-2013.
The EUR/USD fell to 1.4056 from 1.4125 after the news.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 09:30 CHF KOF Economic Barometer
- 12:15 USD ADP Non-Farm Employment Change
- 12:30 CAD RMPI m/m
- 14:30 USD Crude Oil Inventories
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Stock Hot Pick of the Day (85% Return)
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 Stock Binary Options
Microsoft is now in an uptrend.
Advanced Traders: Microsoft is now setting up a pivot chart pattern with resistance at 25.5. A break above this resistance would be in line with the general uptrend after the stock lost almost 15% over the past weeks.
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Market Update
Google is teaming up with MasterCard and Citigroup to embed technology into Android mobile devices that will allow consumers to make purchases by waving their smartphone in front of a small reader at the cash register.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 08:30 GBP Final GDP q/q
- 13:00 USD S&P/CS Composite-20 HPI y/y
- 14:00 USD CB Consumer Confidence
- 23:50 JPY Prelim Industrial Production m/m
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Stock Hot Pick of the Day (85% Return)
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Lloyds is in a range between 60 and 61.
Advanced Traders: Lloyds is now creating a triangle chart pattern ith resistance at 61 and support at 60. A cross of either of these could lead to a nice breakout.
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Market Update
Chinese online search provider Baidu Inc. pledged on Saturday to remove all unauthorized literary works from its free online literary database Wenku within three days, state radio reported Sunday.
Baidu apologized to writers who were involved and will change its business model to protect writers’ copyrights, said Baidu Vice President Zhu Guang, according to the radio report. He didn’t elaborate.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 12:30 USD Personal Spending m/m
- 14:00 USD Pending Home Sales m/mt
- 15:00 EUR ECB President Trichet Speaks
- 23:50 JPY Retail Sales y/y
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Stock Hot Pick of the Day (85% Return)
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eBay is in an uptrend.
Advanced Traders: eBay shares broke solidly through the 50-day-SMA (green line) after creating a double-bottom chart pattern late last week, as we mentioned in our previous newsletter.
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Market Update
Mobile-device maker Research In Motion (RIMM) slumped 12% in premarket action after its guidance for the current quarter fell short of expectations.
The group said its guidance reflects a greater proportion of lower-end devices in its sales mix as well as additional spending related to its BlackBerry PlayBook, a tablet computer intended to compete with Apple Inc.’s iPad.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 09:00 EUR German Ifo Business Climate
- Day 2 EUR EU Economic Summit
- 12:30 USD Final GDP q/q
- 16:15 USD FOMC Member Plosser Speaks
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Stock Hot Pick of the Day (85% Return)
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MSFT is in an uptrend.
Advanced Traders: Microsoft finally broke out of the descending channel that we have been highlighting here in the report for the past weeks. Now an ascending channel is building on this slow mover.
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Market Update
The euro extended losses against the dollar in Asia trading Thursday, in the wake of the Portuguese parliament’s rejection of an austerity plan and subsequent resignation of the country’s leader.
The EURUSD declined to $1.4084 from $1.4096 in late North American trading Wednesday following the developments in Lisbon. Portugal’s parliament rejected Prime Minister Jose Socrates’s plan to impose further austerity on the debt-laden country, after the opposition voted against a government plan to impose additional spending cuts and tax hikes aimed at avoiding an European Union bailout.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 09:00 EUR Flash Services PMI
- 09:30 GBP Retail Sales m/m
- 12:30 USD Unemployment Claims
- 23:30 JPY Tokyo Core CPI y/y
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Stock Hot Pick of the Day (85% Return)
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RBS is trading in a range between 41 and 42.
Advanced Traders: RBS had been in a descending channel chart pattern for 6 weeks and last week tried to recover. Yesterday the stock surged up to 42.5 which is the 100-day-SMA (yellow line) and failed to cross over. Now the stock is trading back down in the 41-42 range.
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Market Update
Research In Motion Ltd. will launch its first tablet device on April 19 with a starting price tag of $499, the company said Tuesday.
The Playbook will be the first tablet to go against the popular iPad at that price range, though the former sports only a 7-inch screen compared to nearly 10 inches for the iPad. RIM had stated previously that it expected to launch the device by the end of this month, though some media outlets had been reporting that the launch was likely to slip into mid-April.
Shares of RIM moved up 1% to $62.84 in early trading on Tuesday.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 09:30 GBP MPC Meeting Minutes
- 14:00 USD New Home Sales
- 16:00 USD Fed Chairman Bernanke Speaks
- 23:00 AUD CB Leading Index m/m
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Commodity Hot Pick of the Day (85% Return)
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 Commodity Binary Options
Crude Oil futures are continuing the uptrend.
Advanced Traders: Oil futures broke up through the bull-flag chart pattern after a double-bottom bounce off of the 50-day-SMA (orange line). We highlighted this yesterday as well as the resistance at the 105 price level.
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Apple Sues Amazon – Binary Options Hot Picks March 22
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Market Update
Apple Inc. is suing Amazon.com Inc. over Amazon’s use of the term “App Store,” on which Apple claims a trademark, The Wall Street Journal reported Tuesday. Apple is seeking an injuction to stop Amazon’s use of the phrase and unspecified damages, the report said, citing a complaint filed Friday in federal court for the Northern District of California.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 09:30 GBP CPI y/y
- 11:30 USD FOMC Member Fisher Speaks
- 12:30 CAD Core Retail Sales m/m
- 20:00 CAD Annual Budget Release
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Stock Hot Pick of the Day (85% Return)
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 Stock Binary Options
Microsoft stock has been in a downward trend over the past 6 weeks.
Advanced Traders: Microsoft stock has been in a descending channel over the past 7 weeks. The resistance at the top of this channel is at 25.5. The support at the bottom of this channel is at 24.5.
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Market Update
Crude oil futures gained in electronic trading Monday as the conflict in Libya escalated, with international coalition forces conducting air strikes over the country while its embattled leader Col. Moammar Gadhafi vowed to wage a “long war.”
The air attacks came after the United Nations Security Council authorized all necessary measures, including a no-fly zone over Libya by resolution on Friday.
Light, sweet crude futures for April delivery advanced $1.82 or 1.8%, or 0.4%, to $102.89 a barrel on Globex.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- All Day JPY Bank Holiday
- All Day EUR ECOFIN Meetings
- 14:00 EUR ECB President Trichet Speaks
- 14:00 USD Existing Home Sales
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Stock Hot Pick of the Day (85% Return)
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 Stock Binary Options
eBay stock has been in a downward trend over the past 6 weeks.
Advanced Traders: eBay stock has been in a descending channel over the past 5 weeks. The resistance at the top of this channel is at 31, which is also the 100-day-SMA (yellow line). The support at the bottom of this channel is at 30.
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Yen Finally Dives – Binary Options Hot Picks March 18
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Market Update
The U.S. dollar and other major currencies surged against the yen in Asia Friday after finance ministers and central bankers from the Group of Seven nations decided on joint intervention in foreign-exchange markets to help curb the Japanese currency’s post-quake rise.
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Trade the News: Today’s Key Economic Events
- Time GMT, Currency, Event
- 00:15 ALL G7 Meetings
- 08:15 CHF PPI m/m
- 09:00 EUR Current Account
- 11:00 CAD Core CPI m/m
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Currency Hot Pick of the Day (85% Return)
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 Forex Binary Options
The EURGBP has been in a rising trend for over a month.
Advanced Traders: EURGBP has been in a perfect ascending channel chart pattern for over 5 weeks. Support is now 0.87 and resistance is at 0.88, these are the upper and lower borders of the rising channel.
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