Chart of the week: Crude Oil

Posted on by The INO.com Team

A new feature to the Trader’s Blog will be the addition of the Chart of the week. Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

The June Crude Oil rallied every day last week. The market put in higher lows and higher highs on a daily basis after it tested the support trendline (#3 on the chart) last week on Monday morning. Any technical trader would say last week had all of the necessary ingredients for a bull run.

In today’s trade (Monday April 30th), the Crude Oil has been under pressure following unfavorable reports out of Spain and the United States coupled with profit taking ahead of a Labor Day Holiday in Europe and Asia.

The selloff seemed to be targeting the dominant trendline and the 20 day moving average (#1 on the chart) above the highs on the daily chart that kept Crude Oil in a downward channel until Thursday of last week when it closed above. This line was the dominant resistance for months, and may be the dominant support if the market can stay above in the near term. Continue reading "Chart of the week: Crude Oil" →

Microsoft Invests in Barnes & Nobles Digital Book Technology

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 30th of April.

3 Stocks on the move today:
BKS (Barnes & Noble), AMZN (Amazon.com), and KFT (Kraft Foods Inc).

DON'T FIGHT THE MARKET … MOVE WITH THE MARKET! Continue reading "Microsoft Invests in Barnes & Nobles Digital Book Technology" →

B&N, Microsoft team up on Nook, college businesses

Posted on by The INO.com Team

By PETER SVENSSON
AP Technology Writer

(AP:NEW YORK) An infusion of money from Microsoft Corp. sent Barnes & Noble Inc.'s stock zooming Monday, as the software giant established a way to get back into the e-books business.

The two companies are teaming up to create a subsidiary for Barnes & Noble's e-book and college textbook businesses, with Microsoft paying $300 million for a minority stake.

Shares of Barnes & Noble jumped $10.41, or 76 percent, to $24.09 in morning trading. The opening price of $26 was a three-year high. Microsoft's stock rose 2 cents to $32.

The deal gives Barnes & Noble ammunition to fend off shareholders who have agitated for a sale of the Nook e-book business or the whole company, but the companies said Monday that they are exploring separating the subsidiary, provisionally dubbed "Newco," entirely from Barnes & Noble. That could mean a stock offering, sale or other deal.

The deal puts to rest concerns that Barnes & Noble doesn't have the capital to compete in the e-book business with market leader Amazon.com Inc. and its Kindle, said analyst David Strasser at Janney Capital. Continue reading "B&N, Microsoft team up on Nook, college businesses" →

Income Growth Outpaces Spending Growth In March

Posted on by The INO.com Team

RTTNews) - U.S. workers took home more pay in March but growth in consumer spending slowed somewhat, according to figures released Monday by the Commerce Department.

Department figures put U.S. personal incomes up 0.4 percent in March, slightly higher than the 0.3 percent growth posted for February.

That comes in slightly higher than the 0.3 percent growth predicted by most economists.

Furthermore, the February personal income figures were revised up from the 0.2 percent growth rate initially reported. Continue reading "Income Growth Outpaces Spending Growth In March" →

So Long, US Dollar

Posted on by The INO.com Team

By Marin Katusa, Casey Research

There's a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country's importance in the world: the demise of the US dollar as the world's reserve currency.

For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This role has created immense demand for US dollars, and that international demand constitutes a huge part of the dollar's valuation. Not only did the global-currency role add massive value to the dollar, it also created an almost endless pool of demand for US Treasuries as countries around the world sought to maintain stores of petrodollars. The availability of all this credit, denominated in a dollar supported by nothing less than the entirety of global trade, enabled the American federal government to borrow without limit and spend with abandon. Continue reading "So Long, US Dollar" →