No market for old investors

fell 5.5 percent, the biggest drop in more than a year, to close at HK$11.04 in Hong Kong trading. The closely held parent group, led by Chairman Tang Shuangning and supervised by Chinas State Council, has businesses spanning from banking, broking, insurance, futures and asset management to hotels, tourism and property development. Established in 1983, it had 2.4 trillion yuan of assets and almost 50,000 employees at the end of last year, according to its website. I havent seen this kind of error in at least the past 10 years, Chen Xingyu, a Shanghai-based analyst at Phillip Securities Group, said by telephone yesterday. This is an extraordinarily big loophole, which doesnt just show defects in Everbright, but also the A-share market. Knight Capital Group Inc. lost more than $450 million after sending erroneous orders to U.S.
Source: http://www.bloomberg.com/news/2013-08-16/everbright-securities-investigates-trading-system-error-1-.html

Such as: If you are saving for retirement, how can you protect yourself from downdrafts and potential bear markets? And, if you are in retirement, how can you survive another downturn? Saving for retirement Click to Play Lessons in investing from your smartphone Chuck Jaffe’s short time with a smartphone has made it obvious to him that the increase in personal productivity that someone can get by being able to handle chores like bill-paying and more by phone is impressive. But, constant access to ones finances tends to turn running money into an obsession.
Source: http://www.marketwatch.com/story/no-market-for-old-investors-2013-08-17

Can ETFs really cause the next stock market crash?

Nordstrom Inc. gave a bleak sales outlook late Thursday that echoed similar forecasts from Wal-Mart Stores Inc. and Macys Inc. earlier this week. The outlooks have raised worries that U.S.
Source: http://www.washingtonpost.com/business/stock-market-edges-higher-early-friday-but-stocks-remain-down-for-the-week/2013/08/16/22e1d9b2-0684-11e3-bfc5-406b928603b2_story.html

Is bullish stock market story about to change?

The nation’s central bank, thanks to a bond-buying program that has kept borrowing rates low and goosed stock prices, has been a friend of the stock market. But with the economy and jobs showing more of a heartbeat, the dreaded day when they’ll start paring back their asset purchases is nearing. But nobody knows precisely when. Fed Chairman Ben Bernanke is also expected to step down from his post when his appointment ends in January. “It’s unclear exactly who will replace him, which creates a double dose of confusion,” says David Kotok, chief investment officer at Cumberland Advisors. ‘”We don’t know what the policy is and we don’t know who will make the policy,” Kotok says.
Source: http://www.usatoday.com/story/money/markets/2013/08/15/bull-market-faces-fresh-test/2661671/

Stock market ends week mildly lower, hurt by retailers and utilities

The S&P 500 closed at 1,661 yesterday , down 1.4%. And the all-time closing high of 1,709 two weeks ago is just getting farther away. The chart watchers have noticed that the S&P 500 is getting dangerously close to falling below its 50-day moving good stock picks today average (DMA) of 1,656 . “The S&P 500 has tested its 50-day five times since the end of 2012,” noted the folks at Bespoke Investment Group . “As shown below, the index held its 50-day the first three times it was tested, but after an initial hold on the fourth go-around, the support finally gave way to selling pressure after a few days. Will it hold again this time like the first three tests this year, or is a break coming?” The 50-DMA may seem like a metric based on a somewhat random number. Nevertheless, a break below the 50-DMA would signal a significant shift in moment to the downside. Bespoke Investment Group
Source: http://www.businessinsider.com/stock-market-50-day-moving-average-2013-8

fairly comforting.” “Recall that the financial crisis saw some pretty extraordinary regulatory moves, such as short-sale bans of select stocks, in attempts to calm markets during their darkest days,” Colas said in a note to clients. “If the Federal Reserve is calling out the leveraged and inverse ETF products as exacerbating market moves to the downside, it would seem pretty clear that curtailing the use of these products in extraordinary times is something they would recommend should the time come. All’s fair in love and war, I suppose.” Current low levels of volatilitythe CBOE Volatility Index remains mired in the mid-teens despite the market’s recent turbulenceprobably make concern over the leveraged products premature, he said. The ETFs in question have taken in about $3.3 billion in funding in 2013, which pales compared with the $177 billion in new money to the $1.53 trillion space. But it’s worth noting that the products as a group are down 44 percent in return for the year. “By my reading of the money flow data, they understand it reasonably well.
Source: http://www.cnbc.com/id/100967849

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