Highlights books related to the week's top financial news stories, by Karris Golden, president & COO of Wasendorf & Associates (Traders Press Inc., W&A Publishing and SFO Magazine)
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The SEC/CFTC “swap dealer” tag is expected to come with more oversight and increase the cost of such trades. The designation also will give firms latitude to exempt swaps for hedging.
Reuters notes that the Dodd-Frank financial oversight law, which was first proposed in December 2010 in reaction to the financial crisis, has changed dramatically. While it originally allowed firms to be designated swap dealers if they traded more than $100 million in swaps over a 12-month period. As Reuters reports, energy companies and commodity traders lobbied to alter the provision to bump the threshold to $8 billion for most asset classes as an initial phase-in. In time, the threshold could drop to $3 billion.
Both regulatory agencies face legal challenges over the rules. There also are concerns that the SEC and CFTC have not fully analyzed the economic impact and rule formulation processes.
To learn more about swaps, futures, options and other financial instruments affected by Dodd-Frank, go to TradersPress.com. There, you’ll find everything priced to meet or beat those you’d find on Amazon and you’ll receive free S&H when you spend $25 or more.
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According to the Associated Press, Forbes, and Bloomberg Businessweek, G.E., Bank of America Corp., Citigroup Inc., Caterpillar Inc. and Alcoa Inc. were among those that increased 1% or more on Wednesday, following a rally in European lenders.
Greek, German and French leaders will meet today to discuss ways to contain Greece’s debt crisis. Speculators believe China may be willing to buy the bonds of nations hit by the debt crises, as reported by Businessweek.
Not everyone supports such a plan, according to the English-language Caijing magazine. Some advisers to China’s central bank believe the nation’s willingness to purchase euro bonds is little more than an ill-advised “bleeding heart” response to the global debt crisis.
“What today’s world needs is not a ‘bleeding heart’; instead, it needs investors with a senseo fo reform and cooperation,” Li Daokuu, academic adviser to the central bank, told Caijing. “I believe (China) will perform a role of a real good guy rather than a ‘bleeding heart.’”
In the article, he advises diversification of China’s foreign exchange reserves with solid investments.
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This month’s SFO (Stocks, Futures, Options) magazine offers “Stop Chasing Trades: The 10-Week Average Can Help.” In the article, RealMoney columnist Kate Stalter explains the ins and outs of using 10-week moving average—a “key benchmark professional investors monitor.”
“When professional investors … have ownership in a particular stock, they’ll often swoop in to grab more shares at a lower price when they see a pullback,” Stalter writes. “Because they presumably have confidence that the stock has more room to run higher, the strategy makes sense. Individual investors can watch this support as it is unfolding and follow in the pros footsteps.”
If you’re interested in utilizing the strategies Stalter explains, were do you begin?
Traders Press offers a variety of resources on Economic and Technical indicators. Use the promotional code KGBLOG711 and receive 20% off your purchase plus free U.S. S&H* until midnight CDT tonight. (It will then revert to the regular 10% off plus free U.S. S&H* discount I usually offer.)
It’s no secret that the other Traders Pressbloggers and I are in a promotional code contest, and it’s no surprise I’m winning!
As I mentioned previously, the discount is currently 20% off—double that which we normally offer on all purchases at TradersPress.com, plus free U.S. S&H.* Just use promo code KGBLOG711 to save! (Yeah, you’ll get 20% off using the other bloggers’ codes, too.) In addition and as always, you’ll earn your rewards points, which adds up to savings on future purchases!
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