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Oil & Gas Weekly, April 5th, 2009 Edition

“Coming off last week’s four-day rally, the market caught some follow through momentum during the first hour on Monday, before succumbing to selling pressure the rest of the day. The action leaves a significant reversal day in place for the major indices, suggesting a rest/correction at these levels is in the works. Dow close +3.32 at 9509.28, SPX -0.56 at 1025.57, Nasdaq -2.92 at 2017.98, and Russell -1.27 at 580.24. Laggard sectors included Banks BKX -1.59%, Retail RLX -1.55%, Restaurants DJUSRU -1.13%, Gold HUI -1.07% and Rails DJUSRR -1.00%.”

Updated: 18-Aug-09 17:18ET

“The stock market was able to shake off the negative performance noted in the first session of the week and the slightly below consensus pre-market housing related data to open on a mildly firmer note on Tuesday. The first half hour was marked by merely sideways chop indicating that selling interest was muted despite yesterday’s wide range bar down with positive news out of Retail (HD, TGT), Finance and overseas providing an impetus for the rebound gains. Sectors other than Finance (XLF +2%, RKH +1.6%, KBE +2%, IAI +1.3%, Insurance +1.8%) providing leadership were: Casino +3.7%, Disk Drive +3%, Networking +3%, Auto Parts +2.8%, Steel +2.7%, Airline +2.4%, Trucking +2.3%, Oil Service OIH +2.1%, Paper +2%, Computer-Hardware +2%, Housing XHB +2%, Semi SMH +1.5%, Retail XRT +1.4%.”

Updated: 04-Aug-09 00:48ET

“Another broad-based positive day for the markets as August gets under way. The S&P 500 managed to extend its 3-week upward momentum to close just above the 1000-mark, a feat last seen back in early November of 2008. Dow +115, SPX +15, Nasdaq +30, Russell +9. The US Dollar’s continued weakness to a fresh multi-month low gave a boost to the Basic Material (XLB +3.19%) and Energy (XLE +2.4%) complex as inflation concerns re-emerge. The chart below shows the Relative Performance of the 9 S&P sectors for the month of July.”

]]> http://www.internationalinvesting.com.au/?feed=rss2&p=150 http://www.internationalinvesting.com.au/?p=144 http://www.internationalinvesting.com.au/?p=144#comments Fri, 23 Jan 2009 01:52:16 +0000 admin http://www.internationalinvesting.com.au/?p=144 Reviewed and Recommended Booklist

New Releases Booklist

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	The Battle for Wall Street: Behind the Lines in the Struggle that Pushed an Industry into Turmoil Review to be posted shortly.
	The Great Depression Ahead Review to be posted shortly.
	The Motley Fool Million Dollar Portfolio: How to Build and Grow a Panic-Proof Investment Portfolio Review to be posted shortly.
	Gimme My Money Back: Your Guide to Beating the Financial Crisis Review to be posted shortly.
	Jim Cramer’s Real Money: Sane Investing in an Insane World Review to be posted shortly.
	Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Revised and Updated for the 21st Century Review to be posted shortly.
	Enough: True Measures of Money, Business, and Life Review to be posted shortly.
	The Coffeehouse Investor Review to be posted shortly.

Charts & Graphs

WORDEN TeleChart 2007 & StockFinder 4.0
Daily Graphs Online

Currency

Currency Converter - Yahoo! Finance
OANDA, The Currency Site: Foreign Exchange Services and Trading

Exchanges

World Federation of Exchanges (WFE) - Member Exchanges

Exchange Traded Funds (ETFs)

ETF Research Center
ETFs - Exchange Traded Funds - Morningstar
ETFConnect - Home
Managed Funds & ETFs - ASX - Australian Securities Exchange
Introduction to iShares ETFs | iShares Australia

Finance News

Google Finance
Yahoo! Finance (US)
Yahoo!7 Finance (AUS)
Bloomberg.com
Business News, Finance News, Stock Market News | Reuters.com
Stock Market News, Opinion & Analysis, Investing Ideas — Seeking Alpha

Financial Newspapers

Investor’s Business Daily
The Wall Street Journal

Streaming Video

Nightly Business Report . Streaming Videos | PBS
Bloomberg.com: Editors’ Video Picks

Time and Date

International Time and Date

According to an article published in the Financial Review - Smart Investor: Guide to Online Trading CommSec and Macquarie Bank are now offering international trading. Although, it is suggested these two options are not cheap and not all exchanges can be traded online.

“CommSec offers online trading on three exchanges in the US through Bank of New York subsidiary Pershing. It charges $US65, or 0.75 per cent of the trade value, whichever is higher, plus exchange fees.”

It is suggested the best bet for trading international shares is the US based Interactive Brokers.

“Interactive allows you to trade on more than 70 markets worldwide. They will lend you the currency, and report in Australian dollars. You pay interest on the foreign exchange borrowing but earn interest on your equivalent Australian-dollar account. Alternatively, you can pay for the trade in cash. You take the risk of adverse currency movements when you crystallize your profit or loss into Australian dollars.”

Options

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	McMillan On Options Review to be posted shortly.
	Getting Started In Options Review to be posted shortly.
	All About Options Review to be posted shortly.

Exchange Traded Funds

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	The ETF Strategist Review to be posted shortly.
	All About Index Funds Review to be posted shortly.

Bonds

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	Bonds Review to be posted shortly.
	The Ultimate Dividend Playbook Review to be posted shortly.

Personalities & History

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	Liar’s Poker It is twenty years since the ‘ 87 stock market crash when Michael Lewis left Salomon Brothers with a story about the personalities on Wall Street and how they exploit gullible investors. In this disturbing true account many a true word is spoken in jest and for anyone contemplating life as a broker on Wall Street, Liar’s Poker provides the excuse not to start, at least at the modern equivalents of Salomon Brothers. For investors it is a lesson in “caveat emptor” rich in examples of how worthless bonds were sold in 1980 and how the current sub prime mess is another example of history repeating itself.
	Baruch: My Own Story (Library Binding) Bernard Baruch knew how to think for himself at a time when information was not as freely available as today and when Morgan, Rockefeller and Harriman ruled the roost in American business. The book is as much an account of the history of the period from about 1900 which shaped much of the “American business character” as it is of Baruch’s native cunning in speculation and investment. He does have 10 rules for those ” who are able to muster the necessary self-discipline”.
	The Black Swan This is a currently popular book often mentioned at investment gatherings and is a New York Times best seller. A Black Swan is a major event that was never expected or predicted such as Google, and 9/11. The modern world has developed many coping mechanisms to deal with the unexpected which are fraudulent, predictions are scandalous, and we fool ourselves into thinking we know more than we do. There are ways of not taking stupid risks and dealing with what we don’t know.. read on.
	When Genius Failed When Long Term Capital Management collapsed in 1998 it took with it some of the biggest names on Wall Street including Bankers Trust, the reputations of the Nobel prize winners who devised its mathematical models, and the jobs of many as far away as Australia. The usual semi-competent, arrogant and myopic characters emerge. The book is worth reading if only to see how these flawed characters prospered and then saved their own skins.
	Panics & Crashes (Revised Edition 1980) Written in the late 1970’s when the US had double digit inflation, the worst President in American history, Jimmy Carter, was in office, and oil and gold were going through the roof. Sounds familiar ? The Chevalier, Mr Schultz, reveals in specific terms what to do with your money when things start getting really bad.
	Rumours in Financial Markets A serious attempt using the results from surveys and experiments to measure the effect on volatilty and prices of unfounded rumours, how they start and spread and how traders are primed to become susceptible to entering and withdrawing from a market based on ambiguous information. Given the widespread use of charts, chat rooms, blogs, and newsletters from all sources it’s not surprising that there may be a significant time delay between the rumour and verification of the fact.
	The Wisdom of Crowds Is the market always right ? After all it is the collective wisdom of thousands of investors estimating its value minute by minute. It turns out that the crowd knows everything except what it does not know, cannot predict, or someone on the inside already knows. Following the money is one way to succeed and it will keep you out of illiquid markets where there are no crowds. The real value of this book is in being able to identify a lynch mob, where they emerge from and where they are going.
	Hedgehogging Anyone who knows John Maynard Keynes will love this book, written by the former Morgan Stanley economist. In a modern context Biggs brings Keynes’s investment philosophies to light and concludes with a chapter on his life. Mr Biggs these days runs a hedge fund so it is no surprise to discover that hedge funds are not all bad and in fact some of them are the answer to all our prayers. There are plenty of anecdotes about what to avoid in choosing an investment strategy.
	Fortune’s Formula An heroic attempt to show us how to beat the casino and beat the market, with a great explanation of the Sharpe Ratio and descriptions of individuals who may have once beat the market.

Other sites definitely worth visiting include powershares.com and holders.com. Widsom Tree have developed certain innovative indexes and ETF’s which value investors find more than useful. Last but not least the ever popular, low cost, well run and well supported Vanguard funds can be found at vanguard.com. Our favourite there is VWO which tracks emerging markets at a fraction of the cost of similar ETF’s. Also check out our “Books and Videos” section for an ETF book list.

In addition the following site will provide detailed analysis and support in your quest for more information on this important new subject altavista-research.com.  Ask the editor Michael Krause a question. He will be pleased to respond.

Last but not least are the following pdf documents which can help explain some of the advantages offered by ETFs and SPDRs:

“Don’t Get Mad, Get Even: How Evening out Your Sector Exposure Can Lead to Better Returns”

By Jeremy D. Held

Exchange Traded Funds & Indexing Innovations - 7th Anniversary Issue

Sector Returns by Year 1999 - 2008 &
Historical S&P 500 Sector Weightings by Decade

SPDR Periodic Table