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- Fast Action Is Better Than No Action - Give Bernanke And Paulson Credit For Being Creative
This week has been more volatile than I could have imagined, especially given that we have had three days with intraday Dow moves of 500 points or more.
Traders are reacting quickly to the ever evolving events, which has included the bankruptcy of Lehman (LEHMQ.PK), the government takeover of AIG (AIG), the closing of a Putnam money market fund, an infusion of liquidity by several central banks and a proposal for a massive bailout of financial firms. Not … [visit site to read more]
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Переслать - SEC Bans Short Selling On 799 Stocks For 10 Days
From WSJ:
The Securities and Exchange Commission on Friday launched an aggressive assault against short-sellers, saying it would temporarily prevent investors from making bets on stock declines in an attempt to stem some of the worst stock-market slides in years.
The SEC, which had convened a late-night commission meeting Thursday to consider several items, said in a statement early Friday morning it is halting short selling on 799 financial stocks. The ban, which is … [visit site to read more]
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Переслать - Press Release Issued By The SEC On Short Selling Ban
SEC Halts Short Selling of Financial Stocks to Protect Investors and Markets
FOR IMMEDIATE RELEASE
2008-211
Commission Also Takes Steps to Increase Market Transparency and Liquidity
Washington, D.C., Sept. 19, 2008 — The Securities and Exchange Commission, acting in concert with the U.K. Financial Services Authority, today took temporary emergency action to prohibit short selling in financial companies to protect the integrity and quality … [visit site to read more]
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Переслать - Potentially Adverse Consequences Of The Government's RTC-Style Rescue Plan
World stock markets are soaring, aided by hopes for “the mother of all bailouts,” a global jihad against short-sellers, and the dynamics of a triple-witching expiration. While it is hard to know how long the squeeze may last, it seems to me that those who are buying equities outright, especially financials (as opposed to those who are being forced to by changes in the rules), have not thought things through.
There’s little doubt that we have seen an element of panic very recently, especially … [visit site to read more]
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Переслать - Witch Hunts And Blaming Short Sellers Are Not The Solution
There’s not much that Macro Man can write that you probably don’t already know: markets are completely, utterly broken. Liquidity is nonexistent, in some cases literally, which naturally exacerbates the volatility which we are all observing.
While an RTC (Resolution Trust Corp) II is a welcome and obvious solution to many of the current problems, blaming short sellers and engaging in witch hunts are not. That policymakers seem to be opting for both … [visit site to read more]
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Переслать - Bear And Lehman Would Administer Social Security Funds If Bush & McCain Had Their Way
OK, a lot has happened over the last two weeks, and it is hard to know where to start. In the first place, you the taxpayer are now the proud owner of most of the mortgage finance industry in the country — the takeover of Fannie (FNM) and Freddie (FRE) — and also the owner of the largest insurance company in the world, AIG (AIG). In a bid to stem moral hazard, the shareholders of each of these firms were essentially wiped out, the … [visit site to read more]
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Переслать - Stock Market Summary - How Can It Be A Free Market System If The SEC Bans Short-Selling?
Perhaps this will be another day to mark on your 'wall of historic events'
I was prepared to discuss today's market action, along with charts, to show how today's rally did not negate the bearish trend.
The rally was not all that unexpected. What was unexpected, was the news that came out in the early afternoon, that the Government may somehow relieve the banks of their troubled assets. This took what appeared to be a simple bounce from support levels, and turned it into a … [visit site to read more]
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Переслать - Investors Real Estate Sluggish
Investors Real Estate Trust (IRETS) had a mediocre 1st quarter. The company missed our 1Q FFO [funds from operations] estimates by $0.04 per share, mainly due to higher than expected expenses.
Fundamentals noticeable declined in the company’s office, retail and industrial segments, while improving in multifamily and medical. We think the company’s diversified portfolio will perform better than sector specific REITs in a weakening economic landscape. On a P/FFO basis, the … [visit site to read more]
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Переслать - Did Warren Buffett Forsee A Crisis Like This When He Said Derivatives Were WMDs?
A major crisis often causes us to look back and ask ourselves the question: “who saw this coming”? In this case the obvious candidate is the Berkshire Hathaway annual report for 2002, where he referred to derivatives as “time bombs”, and as “financial weapons of mass destruction”. Considering the way in which Warren categorized the risk from derivatives it’s pretty much a given that various passages from the Berkshire annual report for 2002 are going to be referenced to death in the coming … [visit site to read more]
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Переслать - Stock Trading: Why We Are Now At Capitulation Bottom
UNFATHOMABLE VOLATILITY, SHORT-TERM BOTTOM IS IN
NEWS: I felt like I was in the Wild West today. It was amazing how the bulls were in control and suddenly the bears were back on top and back and forth all day. But after a rumor about a government plan, the market spiked 400 points and we closed near the highs of the session. When the closing bell finally rang at 4pm ET the Dow (^DJI) was up 410 points or 3.9% and my bottle of Pepto was … [visit site to read more]
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Переслать - Morgan Stanley & Goldman Sachs Future Still Uncertain
Last of a dying breed? Morgan Stanley (MS) & Goldman Sachs (GS) remain Wall Street’s 2 independent brokerage houses, and for that fact, their shares are being sold off heavily day in and day out. Despite the fact that both companies beat reduced earnings expectations for the quarter, they are being lumped into the same selling frenzy as their industry com padres due to their heavy reliance on leveraged investments.
Goldman profit fell 70% year-over … [visit site to read more]
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Переслать - Expect More Short-Covering On Friday Due To Quad-Witching
I really can't post intelligently today. Sometimes you need to back away for more input before just yakking away in a knee-jerk manner. The week ends Friday thankfully.
I will only note the following:
- Within the VIX (^VIX) chart posted yesterday it was noted that any spike to the 40s would spell the end, if only temporarily, of the downturn. And that happened today.
- With the McClellan Oscillator at negative 80 it too pointed to severely … [visit site to read more]
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Переслать - EOR Increases Oil Production Near Term
An under-appreciated part of today's oil supply dynamics is increased incentives for investments in Enhanced Oil Recovery techniques, as I discussed as part of a recent post predicting that oil prices may trade in a range of $80 - $100 for some time. Posted below is a report detailing how new technologies are being applied to U.S. "stripper" wells, of which an estimated 400,000 produce nearly 1 mb/d. Small improvements in effectiveness and cost reduction are being implemented in … [visit site to read more]
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Переслать - Unbelievable News: Will SEC Temporarily Ban Short-Selling In US Stock Markets?
We are monitoring news that is unfolding as I write this. There are numerous reports circulating tonight of drastic measures the Government may be taking.
None of this is confirmed yet and we are waiting for confirmation.
What is being said by the Wall Street Journal right now is that the US Congress and/or the Securities and Exchange Commission is seeking to temporarily ban short selling in the US markets.
Additionally, there are discussions that the US Government will take all the … [visit site to read more]
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Переслать - Thursday's Market Recap: Dow Up Over 400 Points On News Of US Federal Intervention
A very volatile day for the markets today, ultimately ending on a positive note driven by news that the government may create an entity that will take over banks' bad debt. Treasury Secretary Henry Paulson is considering the creation of an entity like the Resolution Trust Corp. that was created during the savings and loan crisis in the late 1980s and early 1990s. A federal intervention could allow financial institutions to rid themselves of mortgage debt and relieve the … [visit site to read more]
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Переслать - Market Close - Resolution Trust Corporation: Are You Kidding Me?
Maybe the NY AG can have his investigation into that “spreading of false rumors”, starting with Treasury Secretary Paulson and CNBC anchors. An RTC, Resolution Trust Corp., was what they used during the 1980's Savings and Loan crisis to put bad assets, until they could unload them down the road. Expanded credit and a housing bubble helped that to happen. And the market marched on. Can it happen again? I don't think so. Back then, the Fed wasn't throwing liquidity to the … [visit site to read more]
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Переслать - The Only People Responsible For Taking These Companies Down Are Incompetent Managers, Not Short-Sellers
Sometimes I think that the markets and politicians are out of touch with reality, how else do you explain the trotting out of the same old tired “short-selling menace” dead horse, as if the collapse in the share prices of the mortgage GSEs, Lehman (LEHMQ.PK) and AIG (AIG) was the fault of short-sellers and not because the companies were insolvent?
I repeat the companies were insolvent and their stock is now priced accordingly it’s as simple … [visit site to read more]
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Переслать - AIG, Lehman & The Mortgage GSEs: 97.7% Decline In Aggregate Market Cap
Interesting little tidbit from the WSJ on AIG (AIG), Lehman and the Mortgage GSEs:
From the WSJ:
In two weeks, the federal government has taken over Fannie Mae, Freddie Mac and American International Group, financial giants that a year ago had a combined market value of roughly $260 billion. Today, it is about $6 billion.
In other words a decline of roughly 97.7%, and if you go from their peak market caps (per the graphic below) … [visit site to read more]
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Переслать - The Worst Financial Crisis Since The Great Depression
Already considered by many analysts the worst financial crisis since the Great Depression, the actual financial crises are dramatically shaking markets worldwide. The financial crisis that began 13 months ago is pushing stocks to irrational historical lows, including healthy companies that are now seeing company value in a bad situation. The panic selling has been installed in investor minds, therefore the word “sell” appears from everywhere on the floors of Wall Street, everybody is selling … [visit site to read more]
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Переслать - Desperate Measure: UK Bans Short-Selling Of Financial Stocks
Given that the Russians seem to own most of the UK (or at least London), it makes sense for the British authorities to adopt certain practices of their new uber-lords. And given that the Russkies, upon reaping the harvest of their serial unpleasantness towards foreigners, have simply shut their stock markets down until further notice, you know it makes sense for the FSA to simply ban all short … [visit site to read more]
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Переслать - Gold's Stunning Two-Way Reversal
If you haven't been following gold prices lately, there's something interesting that may grab your attention and is at least worth a second look. First, gold prices skyrocketed 10% Wednesday and then rose by a similar amount Thursday, yet closed lower on the day. What gives? Let's look at these developments.
First, Gold ($GOLD) on the Daily chart:
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Переслать - Is General Motors Building A Dream Car Or A Bankruptcy Case?
It appears that General Motors (GM) has fallen in love. It is committing its future to a plug-in hybrid power plant, and its new beloved does look beautiful. It promises the dual benefit of virtually unlimited miles per gallon of gasoline if the owner drives only 40 miles before recharging plus offering a standard 300 mile range with refueling available with ordinary, universally available gasoline if so desired. Yes, if oil prices stay high and … [visit site to read more]
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Переслать - It's Not A Housing Problem, It's A Leverage Problem: Bring Back 20% Down Payments
In a Bloomberg interview, economist and former St. Louis Fed president William Poole says that the fundamental problem is not housing, but leverage, both for individual, highly-leveraged households who had too little equity in their homes, and for the highly-leveraged financial firms that purchased the highly-leveraged mortgage securities.
Poole says there’s too much debt, too much leverage, not enough equity in general, … [visit site to read more]
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Переслать - State Street Says Money Market Funds Stable
Investors are understandably jittery, but State Street Corp. has issued a statement affirming that its money market funds are stable.
State Street's stock was off sharply in afternoon trading, and hit a low not seen since 1998. The Boston-based company says it would have ample liquidity, even if it needed to consolidate, reports the Associated Press. It says it raised $2.8 billion in equity … [visit site to read more]
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Переслать - Wall Street Whithers, Main Street Teeters
Lost in all of the hub-bub this week about the financial collapse has been the data on what is going on in the real economy.
You know the one.
It’s where people who have jobs actually produce and buy things.
Unfortunately, the news on that front really isn’t much better. And while it’s not collapsing like Wall Street, Main Street is definitely starting to teeter.
Here’s the skinny this week’s other economic news from Bloomberg.
It’s in an article by Bob Willis and … [visit site to read more]
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Переслать - Will There Be Anyone Left To Bank Israeli M&A?
With prices of Israeli stocks that trade in the US getting nailed along with the broader market, the potential exists for a pick up in M&A among these companies. But a problem exists. It's not about what price a company may or may not want to pay to buy a company, rather, there is a technical problem. Will there be any investment banks left that can bank the deal? With the demise of Lehman Brothers (LEHMQ.PK), by far and away the busiest investment bank in Israel, and … [visit site to read more]
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Переслать - Chevron Shares May See Bounce
Hurricane Ike may well prove to be a blessing in disguise for Chevron Corp. (CVX), which climbed around 2.04% in the morning to trade at $81.68 before settling around the $80 mark. According to a Reuters report, in spite of a weak oil price environment, increased refining margins in the aftermath of the hurricane may actually boost the Exploration and Production (E&P) player's earnings for the quarter.
With the hurricane throwing most of the refineries off gear till … [visit site to read more]
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Переслать - Is There Actually A Lack Of Awareness Of What's Really Going On In The Markets?
I’m sure many visitors to my site probably think I’m being facetious or just plain cynical when I make note of the ignorance of many equity traders and investors.
But I’m not. I actually believe that a lot of these guys (and gals), many of whom are responsible for managing millions or billions of dollars of other people’s money, are absolutely clueless about the economy and the world of finance.
In reality, a lot of them have used their one and only talent, sales, to propel themselves … [visit site to read more]
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Переслать - Google Shares Jump 18%
On a day, when the meltdown in Wall Street continues to dominate headlines, shares of search engine giant Google, Inc. (GOOG) surged by as much as 18.41% to trade at $432.90 in the afternoon. The jump came on the back of new data that showed that Google has widened its lead in market share over rivals Yahoo Inc (YHOO) and Microsoft (MSFT).
According to Comscore.Inc., search count on Google by U.S. surfers hiked to 63% in August from … [visit site to read more]
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Переслать - Large Caps And ETFs Have Future Possibilities
Large-cap stocks are showing up cheap relative to their small-cap counterparts, giving related exchange traded funds (ETFs) a chance for growth when the markets recover.
Despite the valuations, do not be fooled, there is still some uncertainty with large-caps and the market in general. The economy is not settled yet, and may sink more. The presidential elections have a lot to do with the future of capital gains rates, as well, visit site to read more]
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Переслать - Financial Crisis: Random Observations
Who broke the buck? A money market fund, the Reserve Primary Fund, was unable to preserve its $1 price per share. Losses on its portfolio of short-term, safe investments overwhelmed the fund’s earnings. The Wall Street Journal reported that the fund was the top performing money market fund in 2007. If you want safety in a money market fund, perhaps you don’t want the fund that does best in good times.
It’s OK: We’ve got a guarantee. The … [visit site to read more]
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Переслать - Thursday: Daily Forex Market Commentary
EURO
The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.4540 level and was supported around the $1.4280 level. Technically, today's intraday high was just above the 61.8% retracement of the move from $1.4910 to $1.3880. The Federal Reserve reported it is expanding its reciprocal currency … [visit site to read more]
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Переслать - Give Renewable Energy Tax Credits A Boost To Soothe The Markets
“You can’t always get what you want, but if you try sometimes, you just might find… you get what you need.”
— Rolling Stones, from their 1969 album, Let It BleedWashington officials from the White House on down are doing their best to slay the mortgage monster that keeps popping up, or at least convince investors that they have put this credit nightmare to an end. The Treasury has spooked markets even more, leaving it to legislators to grow up and show … [visit site to read more]
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Переслать - VIX:VXV Ratio At New End Of Day High
As far as I know, I was the first person to show interest in the VXV as a market timing indicator and the first to talk about the VIX:VXV ratio when I posted on these subjects back in early December in The VIX:VXV Ratio.
Fast forward nine months and the VIX:VXV ratio has an admirable market timing record and a very strong following, here and elsewhere. Last night it set a new end of day high when the ratio … [visit site to read more]
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Переслать - Emerging Markets Underperform
A reader asked me to check on emerging markets and discuss their recent underperformance since the July market bottom. Here, I look at the MSCI Emerging Market Index, and compare it to the EAFA (Europe/Asia/Far East) and the S&P 500.
First, let's put them all together and look at their performance for 2008:
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Переслать - Robotic Surgery: Meet Intuitive Surgical
In 1985 the PUMA 560 was released and was used to place a needle for a brain
biopsy using Computed Topography guidance. Many at first were quite skeptical, but it was a very exciting time for the healthcare medical industry. The long-term outlook looked promising; however, with a brand new concept coming into the market, were patients willing to leave their … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Your AIG Policy Is Probably Safe
After three days of staggering volatility, all eyes remain on financials and the sector's exchange traded funds (ETFs) to see what they'll do next.
The Federal Reserve and the world's other major central banks stepped up their assistance to the global markets today, making almost $200 billion available after bank lending ground to halt, report Matthew Saltmarsh … [visit site to read more]
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Переслать - Bank Of Ireland Downgraded To Sell
We are cutting our rating to Sell from Hold on The Governor and Company of the Bank of Ireland, or BOI (IRE), and reducing our target price to $21.
In a grim first half trading statement, BOI announced a sharp increase in impairment charges (to 35-45 basis points for 2009 and to 60-90 basis points for 2010 versus 17 basis points in 2008) and a 50% reduction in its dividend. We are slashing our 2009 fiscal year (March 31) EPADS estimate to $7.48 from $9.35, … [visit site to read more]
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Переслать - The Warning Signs For Financials
The importance of following earnings estimate revisions became very apparent this week. A simple practice of avoiding stocks with consistent negative revisions would have kept investors out of American International Group (AIG), Lehman Brothers (LEH) and Washington Mutual (WM) - as well as many other beleaguered financial firms.
For many months, I’ve pointed out the negative trend in earnings estimate revisions for the … [visit site to read more]
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Переслать - Agency MBS Hammered - PIMCO Begging For Another Bailout
It seems like only yesterday Fannie and Freddie failed and they were taken over…actually it almost was. Everyone cheered for days how helpful this would be for mortgage bonds and mortgage rates alike. Speculation abound that this was the needed 'fix' for the housing market. Of the largest voices was PIMCO. Well, it may have lasted a couple of days but now things have fallen apart again much like I speculated may happen a few weeks back in a visit site to read more]
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Переслать - Thursday Global Investing Roundups: SanDisk, Wachovia, Barclays
- The Reserve's Primary Fund (RFIXX), one of the largest and oldest U.S. money market funds was forced to place a 7-day freeze on redemptions when its net asset value (NAV) fell below $1. The fund's shares dropped to 97 cents as its $785 million holding of … [visit site to read more]
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Переслать - Trina Solar: Value Buy Alert
Trina Solar’s stock has declined in this rough market environment, but its fundamentals remain intact. Analysts expect 2008 year over year earnings growth of 130.63%. The stock is cheap, trading at only 6.12x forward earnings.
Company Description
Trina Solar Limited (TSL) manufactures monocrystalline ingots and wafers for use in solar module production. The Chinese-based company’s solar modules provide electric power for … [visit site to read more]
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Переслать - Silver Lining In US Housing Numbers?
Housing is still the root cause of the financial troubles on Wall Street. Wednesday’s report on New Housing Starts and Building Permits was ugly again, although it is this weakness that could be the seed of an eventual stabilization of the housing market.
Nationwide, Building Permits fell 8.9% for the month in August and are down 36.4% year over year. On a cumulative year-to-date basis they are down 33.4%. Three out of the four regions were down — the Northeast was hit the hardest on … [visit site to read more]
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Переслать - Financial Markets Moving Faster Than The Speed Of Light
Although Macro Boy the Elder is only six years old, he knows that nothing (other than certain properties of subatomic particles) moves faster than the speed of light. Nothing, that is, except financial market sentiment and pricing, which is changing at literally unbelievable speed.
News so far this morning is that the world’s central banks have cobbled together a plan to provide localized overnight dollar funding. While this alleviates the worst of the near-term funding pressures, it does … [visit site to read more]
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Переслать - If The Fed Keeps Swimming Against The Tide, It Will End Up Drowning
If there's one lesson you can take away from this financial crisis, it's this: Whenever the U.S. Federal Reserve squares off against the financial markets, it ends up as the loser.
In recent weeks, I've written several articles suggesting that the credit crisis isn't over and detailed the three indicators that led me to this conclusion - despite what the politicians, the pundits and all the other so-called “experts” would have you believe.
Now, there's a … [visit site to read more]
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Переслать - Pre-Market: Will SEC's New Rules On Short Selling Have Any Impact?
As reported earlier, the central banks of the world have thrown enormous amounts of money at the markets today. Central banks are attempting to keep the gears of the markets lubricated. The "check engine" light has been flashing for a long time on Wall Street, it might be too late to try to keep the engine from seizing up at this point.
Jobless claims:
INITIAL JOBLESS CLAIMS: 455K V 440KE;
CONTINUING CLAIMS: 3.478MM V 3.525ME
- No revisions to Prior Initial Jobless … [visit site to read more]
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Переслать - Russia's Politics Of Isolation Leave It Economically Stranded In A Time Of Crisis
While U.S. financial turmoil has seeped into virtually every global market, Russia has been devastated, as the country's largest stock exchanges, the MICEX and RTS, have suffered their biggest losses since the 1998 financial crisis. However, Moscow only has itself to blame after heavy-handed economic, political, and military tactics scared away the foreign investments it didn't oust directly.
Regulators suspended trading on both the MICEX and RTS for the second day in a row yesterday … [visit site to read more]
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Переслать - ETFs Challenge Mutual Funds For Industry Spotlight
The mutual fund industry is facing a new challenge as exchange traded funds (ETFs) are appealing more to the smaller, individual investor.
While the ETF industry is much smaller right now, but they are fighting for your investment dollars, and have many qualities that can win the community over, reports Andrew Leckey for The Baltimore Sun.
Here are some of the … [visit site to read more]
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Переслать - Russian Banks Feel The Blow Of U.S. Credit Fallout
The latest hit by U.S. investment banks is causing deep trouble in areas and exchange traded funds (ETFs) on the other side of the globe, and Russia is beginning to feel the recent fallout.
After the collapse of Lehman Brothers (LEH), Merrill Lynch (MER), and Bank of America (BAC), Russia's primary stock indexes MICEX and RTS have plunged this week, visit site to read more]
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Переслать - Amid Other Concerns, Don't Worry About Inflation
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Переслать - J&J Fairly Earns Its Premium
A number of Johnson & Johnson, Inc. (JNJ) products are expected to experience declining sales, slowing revenue growth in the next few years relative to 2007. Incremental earnings growth will come in the form of improving margins and share buybacks. Investment in J&J offers consistency, reliability, and perhaps safety in this volatile market. We consider the name a core holding.
Johnson & Johnson currently trades at 15.6x our 2008 EPS estimate of $4.52, somewhat … [visit site to read more]
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Переслать - Portfolio Allocation: Investing In TDX, LQD, BSV And SHY ETFs
I have to chuckle at the folly of my ways. Picking financials way too early, sticking with theme plays such as water and infrastructure. Worse yet was that Chinese recycling company SRRY. And the brilliant move into a coal ETF months ago and then watching the price fall into the abyss. Yikes.
However, my total assets to date are down just under 2%. The reason for this is that I have always actively managed lots of rental homes and multi-unit domiciles within my asset allocation model. The … [visit site to read more]
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Переслать - Coordinated Effort By Central Banks
CENTRAL BANKS ANNOUNCE COORDINATED MEASURES
- FED is coordinating with BOJ ECB BOE BOC SNB to offer markets needed liquidity
- BOE to offer $40B in overnight repos
- ECB to offer $40B in overnight repos, to increase 28-repos to $25Bm 84-day repos to $15B
- SNB to raise the size of US dollar auctions
- BOJ to start US dollar supply and fundingFED AUTHORIZES $180B FX SWAPS WITH OTHER CENTRAL BANKS
- Bank of Canada, the Bank of England, the European Central Bank (ECB), the … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - VeraSun Goes Stupid
According to a report from Forbes it appears that VeraSun Energy (VSE) managed to lock in a significant amount of corn contracts at near the peak of the recent corn run up. In the mean time ethanol prices have fallen in lock step with falling corn prices.
So VeraSun got upside down between their feedstock costs and the prices they could get for the end product. Analysts are now forecasting a 44¢ per share loss for the 3rd quarter.
I have considered the VSE management … [visit site to read more]
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Переслать - Gold Surges 8.9% In New York - Largest One-Day Gain Ever
Gold and silver surged yesterday with gold up $69.30 to $847.30/oz and silver up $1.11 to $11.59/oz.
Gold surged by 8.9% to $847.30 (silver +10.6%) at the close in New York and continued to surge in electronic trading to over $870/oz. Asian trading saw the surge continue and gold traded as high as $893/oz. Gold subsequently fell prior to rising to some $870/oz as markets began trading in London. These are unprecedented movements and gold rose from a low of $780 to a high of … [visit site to read more]
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Переслать - AAR Corp. Still Solid: Reports Record Q1/2009 Sales
On a day that the markets were absolutely crushed, AAR Corp. (AIR) survived the maelstrom to finish the day up modestly (+.57 to $16.24) as a result of their continued stellar results even in the face of severe weakness and cutbacks in the airline industry.
As I predicted when … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - China Calls For US Change After "Financial Tsunami"
For decades, the United States has asserted its right to intervene when less developed nations get themselves into economic hot water — whether the “assistance” is wanted or not.
As the world’s leading economic power, America has assumed that it knows best as far as the policies and strategies that others should follow to solve problems and realize their full potential.
Following events of the last year however, various emerging powers have come … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Technology Sector Turns Bearish: Apple Falls From $180 A Month Ago To Around $130
The selling pressure was not contained today to Financial stocks - the NASDAQ lost 4.94% today, the greatest decliner of the four major US Equity Indexes, followed closely by the Russell 2000 (off 4.82%). Many technology and small-cap stocks fell greater than 5.00% today. Let's take a quick snapshot of Apple Inc (AAPL) and view its daily and weekly graphs.
Apple Inc (AAPL) Daily:
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Crisis As Bad As Great Depression Or Worse?
Nobel-prize winner and former chief economist of the World Bank, Joseph Stiglitz has warned that the current financial crisis will continue for at least … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - Japanese Yen And ETFs: A Safety Net From Turmoil
The Japanese yen may be the latest safe haven from the market turmoil, and there are exchange traded funds (ETFs) to help shelter you.
Carl Delfeld for ETF XRAY has quite a few reasons why he chose the CurrencyShares Japanese Yen Trust (FXY) as his latest pick of the week.
First of all, the Japanese yen is cheap in real trade-weighted terms, and has not seen lows like this … [visit site to read more]
Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
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управлять всей подпиской: http://www.rss2email.ru/manage.asp - The Reserve's Primary Fund (RFIXX), one of the largest and oldest U.S. money market funds was forced to place a 7-day freeze on redemptions when its net asset value (NAV) fell below $1. The fund's shares dropped to 97 cents as its $785 million holding of … [visit site to read more]
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