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- Earnings Preview For Sep 15 - 19
There is a possibility of major events impacting how stocks trade on Monday, Sep 15.
The first is Hurricane Ike. Ike is projected to make landfall late tonight or early Saturday morning between the Freeport/Lake Jackson area and Galveston as either a Category 2 or Category 3 storm. If the storm causes refineries to stay shut down for an extended period of time, oil prices could rally. Furthermore, if the wind and flood damage are significant, insurers and reinsurers could be … [visit site to read more]
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Переслать - Lehman Update: Lehman Hires Law Firm To Prepare For Bankruptcy Filing
According to an article that the Wall street Journal has released, Lehman (LEH) has hired the law firm Weil, Gotshal & Manges LLP to prepare a potential bankruptcy filing. According to a person familiar with the situation. The New York-based Weil has a leading bankruptcy practice and advised Drexel Burnham Lambert on its 1990 bankruptcy filing.
According to the WSJ article there is still no deal or solid resolution to the situation with … [visit site to read more]
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Переслать - Housing: Are We Near Bottom Or Is More Pain Coming?
Karl E. Case, one of the economists that developed the 20 MSA methodology, a widely used subset by Standard & Poors in the S&P/Case Shiller Home Price Index, thinks that the housing market may be near a bottom.
According to WSJ - Mr. Case, in a paper presented this week before the Brookings Institution in Washington, argued that the relationship between incomes and home prices has … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Falling Oil Not Benefiting Refiners
Key Points:
- The drop in crude has yet to help refiners
- Crack spreads are being affected by seasonal factors
- Higher home heating bills could create a challenging holiday shopping season
Crack Spreads
Barring a supply disruption from Hurricane Ike, oil will soon test the $100 mark. This is a psychological level of support, and if broken, would suggest further … [visit site to read more]
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Переслать - Lottery Sales: The New Bubble?
In the 1990s, the stock market was the place where people went looking for the big score. After the dot-com bubble burst, real estate was the new land of milk and honey. Now, it seems, more and more people are looking to make a killing in a game where the odds are totally stacked against them. In “Sweet Dreams in Hard Times Add to Lottery Sales,” the New York Times’ Katie Zezima details the latest, desperate … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Week Ahead In U.S. Financial Markets (September 15 - September 19 2008)
The week of September 15-19 will see a solid week of US macro data. The major market moving releases of the week will be the FOMC statement on Tuesday and the publication of the consumer price index on Wednesday. Other data for the week will feature estimates of manufacturing activity in September, with the Empire Manufacturing survey released on Monday and the Philadelphia Fed estimate published on Thursday. The August industrial production estimate will be released on Tuesday. The final data … [visit site to read more]
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Переслать - Be Ready For A Selloff This Week
While I would not be surprised to see continued indecision and low-volume buying early in the week, I am preparing for a big price drop for equities and commodities. A few factors to consider:
- Stocks rose very briefly last week on the FNM (FNM)/FRE (FRE)takeover news, then quickly moved lower. This is the weakest move we have seen after such significant news of government intervention during the current crisis, indicating the feds are running out of power to put a floor under the … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Weekly Review Of The Financial Markets
This week was all about the probable demise of Lehman Brothers (LEH) and the questions and concerns of traders as to how the monetary authorities and banking industry would resolve it.
The Lehman situation has been dogging the market for some time, but whatever was going on behind the scenes with respect to attempts to sell equity or assets must have blown up after the close on Tuesday because spreads on the Lehman debt exploded (meaning nobody would buy their debt). LEH … [visit site to read more]
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Переслать - Stock Charting: Alberto Culver (ACV)
“Wooten" requested that I analyze Alberto Culver Co. (ACV), so here it is.
Want me to analyze a particular stock or sector? Well, let me know!
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Winners Of The Bailout
NEWS: The closing numbers do not tell the true story. Even though all three major indices finished near the unchanged line, it was far from a boring trading session. More talk of Lehman (LEH) up for sale and a possible government intervention over the weekend had the financials higher at one point and down several percent hours later. When the week ended, the Dow (^DJI) was off 11 points or 0.1%. The S&P 500 (^GSPC) … [visit site to read more]
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Переслать - Consumer Confidence Rebounds In The U.S.
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Food Shortages Provide Opportunity For Agriculture ETFs
Oil is down, natural gas has done a nosedive - now agriculture could be the next commodity to explode, mostly because of rising food costs and increased demand, giving agriculture-focused exchange traded funds (ETFs) some time to grow.
Lately, have you noticed your grocery bill going way up, even if your cart isn't way full? In the United States alone, the cost of groceries went up at an annualized rate of 8.4% for July. Even though commodity prices are falling, do not expect the food … [visit site to read more]
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Переслать - Falling Exports, Car Sales Ding Mexico's ETF, Economy
The global economy and related exchange traded funds (ETFs) have encountered a big slowdown, and Mexico is no exception. But at least one official in the country is optimistic that the light is at the end of the tunnel.
Mexico's Finance Minister Agustin Carstens said Tuesday that Mexico's slowdown has bottomed out and growth is expected to pick up during the first quarter of 2009. The Mexican government reported that its forecasted economic growth in 2008 was set at 2.4%, down from the … [visit site to read more]
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Переслать - Rent Control Is The Real New York Scandal
Economic theory predicts that rent control laws will result in these effects (from the Gwartney textbook):
1. Shortages and black markets will develop for housing.
2. The future supply of affordable housing will decline.
3. The quality of housing will deteriorate.
4. Non-price methods of rationing housing will increase in importance (discrimination).
5. Inefficient use of housing will result.
6. Long-term … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - AIG Shares Plummet As Credit Fears Mount
AIG (AIG) is having another terrible day. Markets certainly aren't being patient with the New York based American International Group (AIG). Despite the co.'s announcement of new strategic plans set to be introduced Sept. 25 the insurer's shares continue to sink aggressively lower. The co's stock has fallen 25% in less than a week while the cost of insuring against default has risen beyond that of Lehman Brothers (LEH).
According to Phoenix … [visit site to read more]
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Переслать - Concerns About Apple's Potential For Slowing Growth
We maintain a Hold rating on the shares of Apple, Inc. (AAPL). The company has established a strong track record of earnings growth, which went from a loss of $0.07 per share in 2001, to an expected profit of $5.18 per share in the current fiscal year.
We believe Apple will continue to post solid results due to continued resurgence of its Mac computer line including MacBook Air, Mac Pro, as well as its increased sale of iPhone 3G, iTunes Movie Rentals, and major software … [visit site to read more]
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Переслать - Global Financial Crisis And Some Trade Ideas For Next Week
The financial crisis catapulted the financial markets for the worst period of the decade. For more than a year that the financial markets are living depressed times due to the growing pessimism among investors in the face of problems, no end in sight in the financial sector, the “brake” of the economies and the expectation of worsening results among the big companies. The losses in small and large investors have been brutal over the last months, especially for those who had betting in long … [visit site to read more]
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Переслать - What About The Taxpayer's Debts?
It’s rather disgusting/disturbing that the government is taking money from individuals who are struggling with their own debt problems, and using that money to back-stop the debts of two companies that were into the ground by CEOs who were given severance packages that exceed the annual income and/or net worth of 99% of the population.
visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Crisis Mode: Financial Sector In Dire Trouble
Lehman (LEH), a company that began in 1850, and had survived the Great Depression is now on the verge of collapse. When Bear Stearns collapsed in March it was thought that that would be the end of the crisis, but not us.
We continued to warn our readers that it was only the beginning, and the credit crisis would spread and grow. And spread and grow it has done with a vengeance. Look folks, the media may not say how bad things 'really' are but we will. The financial … [visit site to read more]
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Переслать - Global Currencies And ETFs: They All Tie Together
Exchange traded funds (ETFs) dealing in currencies have given investors exposure to this area of the market that was previously a challenge to gain access to.
Many investors, however, lack familiarity with the mechanics of the currency markets, reports Don Dion for Fidelity Adviser. What makes a currency strong or weak? Is a strong dollar a good or bad thing?
You may have noticed the dollar gaining ground this week, but … [visit site to read more]
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Переслать - Stoneridge Looking Solid
Stoneridge, Inc. (SRI) is aggressively cutting costs and benefiting from the growth of the commercial vehicle market. Increased use of electronics in vehicles is also benefiting the company. We rate the shares a Buy with a target of $15.
Currently, shares of Stoneridge, Inc. are trading at 15.8x our 2008 EPS estimate of $0.82. Stoneridge is aggressively cutting costs and benefiting from the growth of the commercial vehicle market.
As part of its cost-control program, … [visit site to read more]
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Переслать - Excluding A Few States, Foreclosures Actually Decreased In August By -0.41%
visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Projecting S&P Price Targets With A Breakout
I mentioned in yesterday's post that the market is trapped in a defined range, and that a break out of the range will produce a likely sustained move. A reader asked me to highlight potential targets if a break-out move occurred, so I want to take a quick look at S&P potential price targets should we break above the August highs or July lows.
First, let's look at the S&P 500 (^GSPC) consolidation on the daily chart and then rise to the weekly and … [visit site to read more]
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Переслать - Brazil's Rising Middle Class Could Make ETF First Class
Brazil's recent rise among the industrializing nations has brought about rapid growth which has given way to a new social consciousness, as well as an exchange traded fund (ETF) that has a bright future.
In Brazil, the middle class is described as someone with a job in the formal economy, access to credit and who has ownership of a car or motorbike, so says The … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - August Foreclosure Preview
ForeclosureS put out an update earlier this week reporting that foreclosure starts (Notice of Defaults) had dropped on a national level from July. This was amateurish on their part because NODs keep coming in through the first couple of weeks into the following month. At the time released this news, it would have been impossible to tell the count. Estimating is not a good thing in the data business, which is obviously what they did.
Then today, visit site to read more]
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Переслать - Is Brazil Finding A Bottom?
As I noted yesterday, emerging markets have been struggling mightily in the past few months.
An excellent example of the weakness in emerging markets can be found in Brazil, where the Brazil country ETF (EWZ) fell 44.3% from a late May high to a low that was made yesterday. Now picking bottoms is a game best suited for those who are long on hubris and short on common sense, but there are several factors which lead me to believe that yesterday's low may turn out to be an … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Google-Yahoo Partnership Faces Regulatory Review In California
On June 12, Yahoo (YHOO) in a move to thwart Microsoft's (MSFT) takeover attempts said it would run ads supplied by Google (GOOG) alongside search query results, in a four-year deal estimated to bring the Web Portal up to $800 million in revenue a year. While the June partnership benefited Yahoo by derailing … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - A Weekly Wrap-Up Of Sectors
The Materials Sector (XLB) may bounce and meet resistance at around $39. Regardless, the materials are in a confirmed downtrend and must see a capitulation before a strong rally occurs. As hedge funds continue to sell off their holdings, expect continued downward pressure.
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - We're Still A Long Way From A Real Banking Crisis
So far this year, 11 U.S. banks have failed (FDIC data here), out of 8,451 FDIC-insured banks, matching the 11 … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Israel Moves To Tackle Domestic Water Problem
Israel is second to none when it comes to innovative technology for the water industry. From drip irrigation, to the water quality testing solution that was used in Beijing to keep the water events safe, Israel has been at the forefront of developing these technologies. It makes it all that more frustrating and shocking that domestically, Israel has been fast approaching a water crisis. … [visit site to read more]
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Переслать - Main Street Shoulders A Bigger Load
Congratulations Mr. and Mrs. Taxpayer.
This is the 500lb anchor Hank Paulson slipped around you ankle while you were hanging out over the weekend. It was another busy Sunday for Hank and the boys. Insovency never sleeps.
So get back to work America, your financial system needs you—especially on the way down
This will cost every penny of $200 billion and then some.
Housing meanwhile is still falling…..
From Bloomberg by Dan Levy entitled: … [visit site to read more]
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- Projecting S&P Price Targets With A Breakout
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