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Archive for February 16th, 2009

Watch this new NetFlix Analysis Video

If you love the movies, then you’ve got to love this stock.

This stock has been acting very well lately as it seems to be able to shrug off all the negative news that we have been bombarded with lately.

In this short five-minute video I explain in detail and take you step-by-step in what I think is happening to this particular stock. All of our indicators, including our trade triangles are pointed on the upside for this one market.

We are putting the video online so you can watch it with our compliments. There is no need to register and you can watch it right away.

http://www.ino.com/info/293/CD3131/&dp=0&l=0&campaignid=3

Enjoy the video.

Adam Hewison
President of INO.com
Co-creator of MarketClub.com

RBA speech on Forex markets

Recent Conditions in the Australian Foreign Exchange Market

http://www.rba.gov.au/Speeches/2009/sp_so_160209.html

Presented by: Chris Ryan
Head of International Department

Authored by: Guy Debelle
Assistant Governor (Financial Markets)

Address to Westpac & Global Pensions Currency Forum
Sydney – 16 February 2009

Click for print-friendly version

After a number of years of unusually low volatility in financial markets, volatility has risen to historically high levels in the past 18 months, including in foreign exchange markets. Foreign exchange markets, on the whole, have functioned considerably more effectively than many other markets throughout the crisis. This article provides an overview of some of the recent work done at the Reserve Bank examining the operation of foreign exchange markets, particularly that in Australia, during the crisis period.

Every three years, the Bank for International Settlements collects data on turnover in foreign exchange markets. The most recent data document the state of foreign exchange markets in April 2007 and show a rapidly growing market. While these data end before the onset of the current market turbulence, the Australian Foreign Exchange Committee, along with similar committees in the United Kingdom, United States, Singapore and Canada2 collect data on foreign exchange turnover that allow us to document trends in global turnover up to October 2008. For the most part, developments in the Australian market have reflected global factors so the experience of the Australian market has been similar to that of other centres.

The data show that global turnover in foreign exchange continued to grow at a rapid pace through to April 2008 (Table 1). The distribution of this turnover across foreign exchange markets remained fairly steady until April 2008, when turnover in London spiked relative to the other financial centres, although turnover in London has since fallen back. The strong growth in foreign exchange turnover until April 2008 is in direct contrast to developments in most other financial markets where, in some cases, turnover has been significantly lower throughout the crisis period.

Table 1: Turnover in Major Foreign Exchange Markets
Growth (%)

Market1
Oct 2008
(US$b)
3 years to
Apr-07
2
Apr-07 to
Apr-08
Apr-08 to
Oct-08

UK
1660
22
33
-9
US
762
13
16
7
Singapore
290
23
5
-3
Australia
145
28
-5
-11
Canada
69
4
18
4
Total
2926
19
16
-5
Memo item: Japan3
n.a.
6
26
n.a.

1  US, Australia and Canada report using location of sales desk; UK and Singapore report using location of price-setting dealer
2 Annualised; for Japan, change from April 2006 to April 2007
3  Data for Japan are annual beginning in April 2006 only
Sources: Foreign Exchange Committees; RBA

More at

http://www.rba.gov.au/Speeches/2009/sp_so_160209.html

CMC Markets HK Br closed as of Feb 16 2009

Important Notice

CMC Markets has stopped marketing activities in Hong Kong, effective February 16, 2009. As a result, the company’s office at International Finance Centre 2 will be closed. This decision has, unfortunately, been taken despite the success in marketing its Leveraged FX products in Hong Kong in the past four years.

The customers of the CMC Markets Group in Hong Kong have a trading relationship with CMC Markets Asia Pacific Pty Ltd. in Australia, rather than CMC Markets Asia Limited in Hong Kong. CMC Markets Asia Pacific Pty Ltd. has confirmed that its customers in Hong Kong will not be affected by the decision of CMC Markets to stop marketing Leveraged FX in Hong Kong. Therefore, any trading of Leveraged FX that they wish to continue to do is not, and will not be, in any way affected by the above decision and they have always been and will continue to be serviced by CMC Markets Asia Pacific Pty Ltd. in Australia (under ASIC regulation).

Existing customers of CMC Markets Asia Pacific Pty Ltd. can continue to contact CMC Markets Asia Pacific Pty Ltd. on the toll free numbers and email addresses below:

Client Service: 800 938 695 (toll free)
Dealing: 800 938 694 (toll free)
Fax: 800 938 696 (toll free)
+61 (0)2 8915 9483
+61 (0)2 8915 9484
Email asiahelp@cmcmarkets.com.au