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Standard & Poor’s 500 as well as Dow Jones now are on maximum levels since Barack Obama was elected in November of last year as US president, has reported Bloomberg Agency.
Nasdaq has reached the highest point since October, raised 12 trades successively. Such long period of lifting has not been fixed from 1992.

“With the round number of 9,000 not being there for a significant amount of time, it’s encouraging,” said Michael Koskuba, a New York-based fund manager at Victory Capital Management Inc. – “It’s really a result of companies reporting better-than-expected news.”

Index Dow Jones Industrial has grown on 2, 12 % – to 9069, 29 points on Thursday, Standard & Poor’s 500 has increased the results of the trades by 2, 33 %, having made 976, 29 points, Nasdaq Composite Index for a day climbed on 2,45 % – to 1973,6 points.
From the beginning of current year Dow Jones increase on 3, 3 % and S&P 500 – 8, 1 %.

Index Nasdaq has added of 25, 15 % this year. At the same time, in the morning on Friday futures for the American indexes decrease moderately.
Citigroup Inc. raised its 2009 and 2010 profit estimates for the S&P 500 by 9.8 percent and 11 percent respectively, citing better-than-expected earnings. Experts Citigroup expect that the profit of the companies from S&P 500 during the current year will make $56 per share against earlier expected $51. The forecast for the next year has been raised to $62 per share from $56.
It’s been a good earnings season, given the backdrop that was there,” said Sarah Hunt from Alpine Mutual Funds. “When you look at some of the estimates, they are expecting a better second half.”
The Internet shop eBay stock value has jumped up on Thursday on 11 %. The results published by the company testify the stabilization in the online trade market. EBay has got in the second quarter profit at a rate of $327 million, or 25 cents per share, in comparison with $460 million, or 35 cents, one year ago. The gain has made $2, 1 billion without single factors the company has earned 37 cents per share. Analysts expected 35 cents at a gain in $1, 99 billion.
Ford increased 9.4 percent to $6.98. The only from the largest American auto manufacturers, which not using the help of the state, has won in April-June net profit after four quarter losses.
AT&T rose in price for 2, 6 % also because of positive financial results. The largest American telephone company has lowered net profit in the second quarter on 15 % – to $3, 2 billion, or 54 cents counting per share.
A gauge of homebuilders advanced 5.2 percent after sales of existing U.S. homes rose 3.6 percent in June to an annual rate of 4.89 million, the National Association of Realtors said in Washington. Economists in a survey had forecast an increase of 1.5 percent. D.R. Horton jumped 7.6 percent to $11.17.
3M have risen in price for 7, 4 % that became a record gain among the companies from Dow Jones. The company which produces about 55 thousand of names of the goods – from electronics to stationery, in the second quarter has reduced net profit to 17 % – to $783 million, or $1, 12 per share. However without some expenses the company profit has made $1, 2 on the action against 94 cents expected on the average by analysts.
The Fifth Third Bancorp surged 14 percent to $8.01 to lead a measure of financial shares in the S&P 500 to a 3 percent advance. Ohio’s largest lender posted second-quarter earnings of $1.15 a share, compared with a loss of 37 cents a share a year earlier.

foreign exchange market
The wave theory of Elliott – a method of a technical expertise of the markets, based on the wave theory of Elliott (Ralph Nelson Elliott), developed in 1930th years. The waves theory of Elliott represents system of empirically deduced rules for interpretation of the market behavior.
Ralph Nelson Elliott published his book (in collaboration with Charles J. Collins) called The Wave Principle (in August 1938). In it, Elliot advocated that, although stock market trends may appear random and unpredictable, they actually follow predictable, natural laws and can be measured and predicted using Fibonacci numbers. It was the new system of analyzing market trends.

Within the limits of “the bull” movement from five waves of Elliott each of waves 1, 3 and 5 is a pulse wave which consists of five waves of smaller degree while waves 2 and 4 are correcting as each of them breaks up to three smaller waves.Subwaves pulse sequence are numbered by figures, and correcting sub waves by letters.
In conformity to all time scales, the theory of Elliott says:
- Market can exist only in two phases: “bull” and “bear”.
- The “bull” is market on which “the bulls”, characterized by increase of quotations.
- “The bear” market – the market on which “the bears”, characterized by decrease in quotations.
- The both phases of the market in the chosen scale are described by 8 wave formation of market movements.
- The first five waves of any phase (are designated by figures) form the basic market movement, pulse. Final three waves (are designated by letters) form the correctional movement directed against the core. The further development along last three waves can lead to change of a phase of the market.
- Etch market wave develops in time by its own laws. The moment of its end, as well as its size, can be predicted with split-hair accuracy if all market waves which have longer time scale are correctly defined and the current condition of the market is precisely defined.
- If the predicted moment of end of a wave or its size does not correspond to earlier certain sizes, then, the initial analysis of waves of Elliott has been spent incorrectly.
There are following rules for interpretation of Elliott’s waves:
- The second wave lifting is never equal to the 100 % of lifting of the first wave. For example, in “the bull” market the second wave low never will fall below of the first wave starting level.
- The third wave in pulse sequence is never the shortest wave, more often it’s the longest.
- The fourth wave never comes to the end in the first wave’s prices range. It puts into shape the graph, but market movement is the same as well as before it, irrespective of the size and duration of its movement.

Posted in Forex | 1 Comment
July 4th, 2009 by Fanny

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