Charting Stocks

The Dow Jones Industrial Average breached the 10,000 level at the open and then rallied back 180 points from the low to close at 10,193. In a previous post I mentioned that the major averages were close to major support levels while approaching oversold levels. Those levels were tested today before the market moved higher.
(Chart [...]

An unusual dynamic has taken shape over the last few months – Both the US Dollar and Gold have been rising together. Normally, such a movement would seem counter intuitive as Gold is a commodity and commodities tend to move in the opposite direction of the US dollar. There is a slight caveat, however, to [...]

The UK government has frozen $1.6 billion of Iran’s assets. British officials made the announcement on Thursday and claim that the money was frozen under international sanctions imposed over Tehran’s nuclear program. You know, the nuclear program which Iran has every legal right to pursue under the Nuclear Non-Proliferation Treaty.
UK’s economic secretary to the Treasury [...]

The US government issued approval for 10 of the nations largest banks to pay back the TARP money.  The banks are:

California Governor Arnold Schwarzenegger told lawmakers at the Capitol that “California’s day of reckoning is here.”  Without any action, the state will run out of money in 14 days. Three months after the state budget was approved, California faces a $24 billion deficit (er that’s on a 90+ billion budget).

Video by David Icke on the illusion of money.

In an effort to curb the growing loan deficiencies and defaults, American Express is offering its cardholders a $300 gift card to close their account and pay off the balance by May 1st.
The scheme comes as ratings agencies have warned that rising credit-card delinquencies could push the charge-off rate into the double digits by [...]

The American Recovery and Reinvestment Act (Bailout bill du jour) calls for the launching of a new website, Recovery.gov. The site is now live.
According to the website:
Recovery.gov is a website that lets you, the taxpayer, figure out where the money from the American Recovery and Reinvestment Act is going.
We’ve spoken about the launch of Obama’s [...]

General Motors has announced that it will cut 10,000 jobs, or 12% of it’s global work force.
The majority of the U.S. job cuts is set to take place before May 1. The remaining GM workers are likely to see a 3% to 7% reduction in pay for the rest of the year.
GM has received [...]