Archive for the ‘Charts & Strategies’ Category
[Chart] Dow Jones 27/05/2010
U.S. stocks rallied amid a statement from the Chinese Government denying reports it would sell euro-bond holdings. The Euro rebounded as concerns about Europe’s debt crisis ebbed. The Dow Jones advanced 2,85%, the S&P 500 climbed 3,29% and the Nasdaq (back into positive territory for 2010) closed up 3,73%.
Looking at the Dow Jones chart there is an interesting formation in progress which reminds us very much of the mini crash in January of this year triggered by the Greece debt crisis.
Read more: [Chart] Dow Jones 27/05/2010
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[Chart] PETR4 15/05/2010
As any other stock PETROBRAS is trading in very volatile environment at the moment. The stocks lost ~18% this year already despite very positive news including the discover of an offshore area holding approx. 4,5 bln bbl of oil and a second discover in the Potiguar Well. On top of this Petrobras reported a quarterly rise in profit of 23% on Friday after markets closed. Net income rose to 7.73 billion Reais ($4.3 billion), or 88 centavos a share, from 6.29 billion Reais, or 72 centavos, in the year-earlier period. All together very positive fundamentals which should give the stock some upwards potential next week providing markets (including crude oil) can stabilize. Read more: [Chart] PETR4 15/05/2010
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[Chart] 5 year Credit Default Swaps drop sharply amid Greece rescue plans
The cost of insuring Greek, Portuguese and Spanish government debt against default fell further on Tuesday after rising in earlier activity, according to data provider Markit. The spread on Greek credit default swaps narrowed by 37 basis points from Monday’s close to 590 basis points. That means the cost of insuring $10 million of Greek debt against default fell by $37,000 a year to $540,000. The Portuguese CDS spread narrowed 8 basis points to 267, while the Spanish CDS spread narrowed 4 basis points to 163. The Irish spread narrowed to 180 from 184.
Read more: [Chart] 5 year Credit Default Swaps drop sharply amid Greece rescue plans
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