IMF's Strauss-Kahn: China's Currency Still "very Much Undervalued" - RTT News (RTTNews) - China's currency is still "very much undervalued" and the country may allow the yuan to appreciate in the coming months, International Monetary Fund's Managing Director Dominique Strauss-Kahn said Tuesday. In a speech at the University of ... Publ.Date : Tue, 09 Mar 2010 11:59:00 GMT Borg: No cash for euro currency fund - Local "Swedish taxpayers money will not be spent on this," Borg said to journalists at the Government Offices on Tuesday. Borg expressed support for the initiative, however, saying that the Greek crisis has shown that regulations need to be tightened, and ... Publ.Date : Tue, 09 Mar 2010 13:11:00 GMT New Zealand Import Prices Fall 5.8% as Currency Rises (Update1) - BusinessWeek March 10 (Bloomberg) -- New Zealand import prices fell by the most in three years as the currency surged, ensuring the nation’s terms of trade index increased for the first time in seven quarters. Import prices dropped 5.8 percent in the three ... Publ.Date : Tue, 09 Mar 2010 22:08:00 GMT Obama: Greece, facing bad days, has US as ally - FederalNewsRadio.com Papandreou said he outlined European proposals in his White House meeting and Obama reacted positively to European ideas about cracking down on currency speculation. He also said the issue would be discussed at the next meeting of the Group of 20 ... Publ.Date : Wed, 10 Mar 2010 00:02:00 GMT Boomerang Networks Launches Community Controlled “Offerwall ... - YAHOO! Offerwall introduces a new approach to improving the experience of these users as they consider and complete advertising offers in order to earn virtual currency: • Users can rate each advertising offer, giving it a thumbs up or thumbs down. Publ.Date : Tue, 09 Mar 2010 17:21:00 GMT
As indicated yesterday, many indicators argue for a strong rebound of the
Bullion, in the current context of financial crisis and uncertain business
climate. Gold price soared yesterday, the biggest gain ever posted in one day,
as the credit market turmoil convinces investors to pull their money out from
equities and to put it back in safe-haven assets. Yesterday SGX jumped by 22.54%
and LGL bounced 15.89%.
As same causes create same consequences, a further momentum is expected for
LGL.
Several signals argue also for a positive development.
The stock actually lost 61% of its value between the historical high posted
in last March, at $4.39 (well the real historical high had been posted in
October 2007 at $4.45), and the recent low posted last week (at $1.6950). The
stock has been obviously oversold and, as it has already bounced back
impressively, a large retracement is more than likely.
The MACD just triggered a bullish signal yesterday, as it crossed above its
signal line. So did the Relative Strength Index, which has quit the oversold
area and has been soaring for a week now. The On Balance volume indicator (OBV)
provides a running total of volume and shows whether this volume is flowing in
or out of a given stock. Here the OBV has also clearly bottomed and has turned
upward: money is flowing back into the stock. Once again, if both price and
volume move on the upside, it's a good sign that a bullish momentum is building
up, and that a positive trend may be possible.
A significant retracement of the recent decline is likely. Yesterday the
price closed at $2.48, well above the 23.6% Fibonacci ratio. The next objectives
are therefore $2.7 then $3.1 (the 38.2% and 50% retracement ratios).
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