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Apr 24, 2009

Roger Conrad's Utility Forecaster

The Leverage Crisis Revisited: April 17, 2009-->By Roger S. Conrad

to read full article, click HERE Alerts:" Markets Brief"

Treasury: Banks Need More CapitalCarl Gutierrez, 04.24.09, 02:40 PM EDT
Banks are stressed about their tests but the markets are holding up fine.

For full coverage click Here

Howard Miller's Report: From Global Bullion Trading Group:

This is the trancripts of Howard Miller at the close of the Bullion Markets

Good afternoon everyone, Silver and Gold finished the day and week on a strong note aided by today's sagging Dollar.....Silver was up 15 cents at $12.90......Gold gained $9.00 to $911.00.....Palladium closed with a gain of $1.00 at $235.00.....Platinum slipped $2.00 ending the day at $1181.00.....Volume was light and orderly.......Over in the currencies the Euro kept it's head of steam against the Dollar for reasons mentioned this morning.....Last on the Euro $1.3259 up 1.82 cents against our Greenback....Traders continue to anxiously await for news out of the G7 meeting......Crude oil rallied 1.82 per barrel on today's strong than expected stock market and for technical trading reasons.....Last on Oil $51.41......As for the Dow; it's up 121 points with financial stocks surprisingly stable in advance of today's bank stress test data....Better than expected U.S. economic data also helped to push stocks higher.......We will get a good understanding of the method and parameters being used by the government in assessing the financial health of our banks after 2 pm eastern today.........As for today's economic data; Durable Goods clocked in with a smaller than expected decline of .8%.....But; as predicted we got a negative revision to last month's data......New Home Sales were reported at better than expected 356,000 units with a positive revision to last month.....As for next week the calendar begins on Tuesday with a fresh look at Consumer Confidence.....With two hours left in the trading day for stocks ; that's it.... Have a good week-end.....Howard

Howard Miller's Report: From Global Bullion Trading Group:

Good morning everyone, Gold is trading $8.00 higher this morning on nervousness over today's G-7 meeting in Washington.....The group of 7 largest industrialized nations will be discussing the future of the Dollar as the main global currency....China has already made it clear that it intends to reduce exposure to our Greenback....Adding pressure on the Dollar is the looming specter of the U.S. bank stress tests.......As a result we have the Euro surging by 1.71 U.S cents to $1.3248.....Gold jumped to $910.00.....The other metals are steady with Silver up 2 cents at $12.77......Palladium and Platinum have both edged up $1.00 to $235.00 and $1184.00 respectively.....In energy trading we find Oil changing hands 53 cents higher at $50.15 per barrel....Traders will keep a wary eye on Crude now that it once again broken through the psychological $50 level......U.S. stocks ended the day up 70 Dow points and appears to be headed for a 32 point higher open today.....Traders are viewing today with mixed emotions as they await today's final batch of economic data and reflect on mixed signals out of Detroit.. Rumors are swirling all over Wall Street that Chrysler is within a week of bankruptcy; while Ford Motors reported a much smaller loss than had been feared.....Ford reported a loss of 75 cents per share compared with Street expectation of $1.19 loss....Meanwhile GM has temporarily shut down 19 assembly plants in an effort to reduce expenses and lower vehicle inventories....As for today's economic data; Durable goods are expected to show a decline of 1.5% compared to last month's surprising jump of 5.1%....Do not be surprised if last month's number is revised lower....The final report of the week will come in the form of New Home Sales for March.....The Street is looking for signs of stabilization with a number of 337,000 units...That would be unchanged from the February level and a mild positive for the trading community.....On the geo-political front the U.S called for Pakistan to move against the Taliban as continues to grow in power and geographical control.....Let's see how the day plays out.....That's it......Howard