With the US dollar strengthning on worries about Greece and the possibility of the China bubble popping, the price of gold is coming back down to the $1,000 level. Stocks of major gold producers are tracking the commdity lower. ABX is no exception. In today’s trading, ABX closed down over 3% to $34.82. The stock is getting close to the 2009 July low or the $31.50 area. If this price is broken, the next major support levels are $27.50 and its 52 week low of $25.54. Resistance for the stock are its 200 day and 50 day moving averages, or $36.50 and $40.80 respectively. Until the issues with Europe and China are resolved, investors are avoiding risky assets. 

Agrium stock got caught in the down draft of Potash Corp., who delivered a profit outlook that was below what analysts were expecting. AGU traded 3% lower to $57.76. This producer of agricultural nutrients underperformed its counterparts such as CF Industries and Terra Industries, whose stocks fared much better today. Unlike Potash, Agrium’s business is much more diversified. The stock is approaching its 110 day and 200 day moving averages of $55 and $50 respectively. Between $50 and $55, AGU offers a strong buying opportunity. Resistance levels are its 50 day moving average of $61 and its 52 week high of $71.11.      

Most seasoned investors know better than to try to catch a falling knife. Such is the case with TM stock, as it dropped over 8% to $79.72 on news that the car manufacturer is halting sales of 8 models in order to deal with unintended acceleration. Just a couple of weeks ago, the stock hit a 52 week high of $91.97. The stock fell below its 50 day and 200 day moving averages, or $84 andf $80.50 respectively. If the $80.50 level becomes resistance, the next major support levels are $76 and $73. The 52 week low for TM is $56.79. The company is still digesting its rapid growth of the last few years, so it still needs to generate profits to pay for additional production capacity. Instead, this fiasco will cost Toyota billions in profits and lost sales. 

The widely followed Chinese ETF, the iShares FTSE/Xinhau China 25 Index, broked through its 200 day moving average at $40. Today, the FXI dropped 3% to close at $38.51. Not since late April of 2009 that this ETF traded below its 200 day moving average. Worries that China is taking measures to cool down their economy are pulling down the FXI. The next major support levels are $35.50 and $30. The Chinese government is concerned about an asset bubble quickly forming in real estate, stocks and even commodities. Immediate resistance levels are its 200 day and 50 day moving averages, or $40 and $43.50 respectively. The 52 week high low range is $22.69 to $46.66.

Investors are eargerly awaiting for Apple earnings today after the market closes. As long as they crush the whisper numbers, AAPL will go higher. The stock is currently up over 3% to $204.40. If the rosy scenario holds, the upside target is $215.59, its 52 week high. If management fails to deliver stellar results, AAPL stock will be sold off aggressively, retesting the $160 level. The 200 day moving average is around the $145 area. The stock is bouncing off its 90 day moving average. Apple is also expected to reveal a new product this Wednesday. The main question for AAPL stock is how much of the good news are already factored in by investors? We will know soon.  

GE stock is up 3% to $16.50 around noon thanks to better than expected quarterly results. Its 50 day and 200 day moving average are $15.80 and $14.75 respectively. Stronger earnings were a result of keeping costs under control and not top line growth. With the global economy still facing many challenges, it will be difficult for GE to boost revenues. In this environment, GE stock is likely to trade within a range of $14.25 to $17.52, its 52 week high. GE is not a high beta stock. Active traders should look elsewhere.

Among the financial sector, GS is considered one of the best run financial institutions. For investors, GS is considered a leading indicator for this group. Today’s events, China tightening credit and President Obama’s measures to reign in the financial institutions, are dragging down share prices of entities in the financial sector. For GS stock, the critical level is $160 or its 200 day moving average. Despite posting blow out earnings, the stock is currently trading down almost 4% at $161.19. The daily trading range is $156.77 to $171.00. If $160 fails to hold, the next major support level is $135. Upside targets for GS are $170, its 50 day moving average, $180 and $193.60, its 52 week high. Given the current environment, the bias is favoring the downside. This is a stock to be sold into rallies. 

This producer of agricultural nutrients has a positive technical profile. Currently trading at $61.81, AGU is approaching its 50 day moving average of $60. The 52 week high for the stock is $29.59 to $71.11. The chart suggests that a good price to go long the stock is around its 90 day moving average, which is $60.00. If the 50 day moving average cannot hold, $55.50 is the next target. Fundamentally, the company is doing all the right things. They are growing sales and profits while diversifying their customer base. AGU is coming off its 52 week high of $71.11. If the stock weakens further, it’s time to start adding to this stock. 

Since spring of 2009, housing stocks went up on hopes that the economy will recover and jobs will soon be created again. Furthermore, new home sales last year got a boost from low borrowing rates and federal tax incentives. As we enter 2010, the housing market has yet to find its bottom. High unemployment are causing more home foreclosures, adding to the already high inventory of unsold homes. TOL is presently trading at $19.52. The 52 week high low range is $13.72 to $23.62. Looking at the 2 year chart, TOL seems to be settling into a trading range of between $16 to $24. The stock is barely above its 200 day moving average of $19.25. Resistance lie at $22.50 and $23.62. Support remain at $19.25 and $17.    

Despite delivering a blow out quarter and giving good guidance for 2010, Intel stock dropped over 3% to $20.80 on Friday. The 52 week high for INTC is $21.55. The stock did run up from the low $19 area in mid December to $21.55 just before the earnings were released. Investors likely believe that the news on INTC will not get any better. Unless the economic recovery comes out stronger than expected, INTC will probably trade within a range of $18 to $22. Short term resistance is its 52 week high of $21.55. Major short term support levels are its 50 day and 200 day moving averages, or $20 and $19 respectively, and $18.50. For investors seeking for momentum plays, they should look else where.