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Two Ways To Play: Problems In the Pacific Rim


Strengthen your portfolio in good times and bad.


Asia: Short-term Pain For Long-Term Gain?

Jamie Dimon, CEO of JPMorgam (JPM), sounded a somber alarm for the economy's prospects in 2009. In a speech to employees in Hong Kong yesterday, Dimon said his company faces "highly challenging conditions" next year and called into question Asia's ability to weather the global financial crisis. He warned that Asian markets will "get worse than you think" and doesn't believe the region can avoid the fallout from global problems.

Dimon did offer a hint of optimism, however, saying the area still has the potential for natural growth over the longer term. Read Toddo's view in Monday Morning Quarterback: Is the Worst of the 2008 Spook Behind Us?

From the Bull Pen: According to Jeff Saut, the time to be in cash has passed. Consider PetroHawk Energy (HK), with a sell stop in the $16-$17 range. But note major resistance near $20.

From the Bear Cave: Professor Jeff Cooper mentioned on the Buzz a play on the UltraShort S&P (SDS). One can set an initial position here with a sell stop near $78.

Quick Check Around the World

Asian trading closed with the Hang Seng 0.28%, Nikkei 6.27%, Sensex 2.48%, Taiwan 0.05% and Shanghai -0.76%.

Glancing towards Europe, we see the CAC 2.88%, DAX 2.22%, FTSE 2.52%.

As of 8:20 a.m. EST, S&P Futures are trading +19 to 988, and Nasdaq futures are +25 to 1366.

A Look At Commodities

Crude oil is trading +1.45 to 65.32. Gold is +16.70 to 743.50. Silver is +0.375 to 10.125 and copper is -3.330 to 180.45.

The dollar index is -0.908 to 85.457.

On the Radar


09:00 Factory Orders
03:00 ABC Consumer Confidence

Click here for the full trading radar.

Good luck today!

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Position in SDS

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