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- Global Investing Roundups: OPEC, Iceland, Micron
- The Organization of Petroleum Exporting Countries, which produces 40% of the world’s oil, is “very likely” to cut its crude production at its next meeting on Nov. 18, according to the group’s President Chakib Khelil. “The Organization is concerned about the deteriorating economic conditions with contagion risks,” OPEC members said today in a statement. The official production quota for 11 of OPEC’s members is 28.8 million barrels a day. visit site to read more]
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Переслать - The Two Prior 7-Day Declines In The Dow Since 2000
I thought it might be helpful to look back since 2000 to show the two previous times the Dow Jones Index (^DJI) was down seven consecutive days in a row. The next two charts show the before, during, and aftermath of these instances for you to see for yourself.
The first time it happened since 2000 was just before and after the September 11th terrorist attacks in the USA. The Dow had declined three days prior to the attack, and the market was closed for a week after the … [visit site to read more]
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Переслать - The Markets Are As Oversold As They Can Get
Batman [Paulson] & Robin [Bernanke]
Batman: “It’s time to get set, Robin. It’s almost oda wabba simba.”
Robin: “It’s almost what?”
Batman: “Oda wabba simba. Six o’clock in our nomenclature. In the 14th dynasty, the hour of the hyena. The time when ancient Egyptian supercriminals invariably struck!”
Robin: “Gosh, Batman, is … [visit site to read more]Article Published On GraceCheng.com - visit Grace Cheng Financial News & Opinions for more great content.
Переслать - How NOT To Think About Your Stock Investments
Many stocks, perhaps most stocks, are trading at prices that do not reflect fundamental value, as determined by traditional methods. The excellent team at Bespoke Investment Group provides a great list of stocks trading at “crazy” P/E ratios. Unfortunately, we own a few stocks on that list. Our cheap plays got even cheaper.
Bob Pisani’s CNBC reports — a good reflection of floor trader … [visit site to read more]
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Переслать - Is The Party Over For Warren Buffett And Berkshire Hathaway?
The graphic below appeared in a USA Today Story in June 2008 about Warren Buffett and his achieving Rock Star Status. You can see the long term returns on his class A shares. Nothing goes up forever.
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Переслать - The Best Case Scenario? A Two-Year US Recession
Well, it’s been another breathtaking, bone-shuddering week on Wall Street, and calls and emails have been pouring in from friends and relatives seeking advice on how to react to the worst market since the Great Depression.
I have found myself humming the same song for the last month straight: the Duke Ellington classic, “Do Nothing Till You Hear From Me.”
In recent weeks, I’ve already said “When in doubt, sit it out,” and “stay out of the water and wait until there are fewer sharks … [visit site to read more]
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Переслать - Citigroup Walks Away From Wachovia Transaction
Citigroup (C) announced Thursday that it was walking away from its attempts to buy Wachovia’s (WB) banking operations, handing victory to Wells Fargo (WFC).
New York-based Citi stated that after following several days of discussions about matters related to Wachovia - dramatic differences in transaction structures and views of risks made mutually acceptable agreements impossible.
Citigroup agreed last week to visit site to read more]
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Переслать - Unprecedented - Largest Declines In S&P 500 Since 1928
Thursday’s decline in the market capped the worst 2 month rate of change in the S&P 500 since 1932. Let me repeat - 1932. That means we’re oversold, based on probabilities, over two months, dating back to 1932. This might be a time where historical data is meaningless in trying to formulate a decisions about what to do.
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Переслать - S&P 500 In 1932: Largest 2-Month Decline Followed By Largest 2-Month Gain
The largest two month decline in the S&P 500 happened in from April-May of 1932. During this period of time the S&P 500 declined 38%. This 38% decline was followed by the largest two month advance in the index. It was an advance of historic proportions. The index exploded from July 1932 to August 1932 by 90%.
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Переслать - More Confirmation Of U.S. Banana Republic Status
Nothing personal to all those Barbadians, Estonians and Namibians among my readership, but when the world’s “sole superpower” has a banking system that is ranked behind those nations — and 36 others — in terms of “soundness,” there is something seriously wrong with this picture. Reuters provides the gory details in “Canada Rated World’s Soundest Bank System: … [visit site to read more]
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Переслать - IBM Appears To Be Weathering The Storm Rather Well
The Technology Services and Computing Blue-Chip pre-announced its quarterly earnings Wednesday in an effort to boost confidence in not only its 52-week low stock price but also to provide a window into the upcoming economic effects facing ‘Big Technology’. IBM (IBM), or Big Blue as it responds to in business circles offered a reassuring look into its future profitability despite the economic fears that have plagued all industry.
IBM told investors to expect at least … [visit site to read more]
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Переслать - The Carnage Continues: Dow Is Closer To Intermediate Bottom
- 78.6 Retracement - The DJIA (^DJI) has completed a 1.786 retracement from it’s high of 14,200 to the Wave 1 bottom made on 1/23/08. The Wave 2 high was made on 5/19/08. If you assume that we’re now at the bottom of Wave 3, ready to embark on a corrective wave 4, the the odds for a reversal seem to be very high now. The market has fallen a large distance in a very short period of time. It’s very difficult to want to add large short positions in this environment, … [visit site to read more]
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Переслать - Devastation In The Stock Markets
Just when you thought it was safe to enter the market. Also, “what a difference a year makes.” Exactly one year ago, the S&P 500 and Dow Jones made all-time highs… one year later, we’re making fresh and significant five year lows. Let’s look at the S&P and the XLF Financial Sector (XLF) on weekly charts.
S&P 500 Weekly Chart (compressed):
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Переслать - Dow Plunges Below 9,000 After Paulson Commented On Directly Buying Stakes In Banks
The U.S. Treasury Secretary Henry Paulson made the news today as he commented on the possible options the Treasury might pursue in hopes of easing the credit crunch. The $700 billion dollar bailout plan passed by Congress a few days ago gives the Treasury authority to help out the financial institutions in various ways, not just in mortgage-related assets, but also “any other troubled assets that the Treasury and Federal Reserve deem necessary to promote financial market stability.” Because the … [visit site to read more]
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Переслать - Muni Bond Funds Continue To Fall
Municipal bonds have continued their rapid decline with no real end in sight. It’s going to take fund from the Federal Government to support state and local governments. Unfortunately, the funds to do this are not there at the moment. It’s going to result in momentous belt tightening for everyone in this country and around the world. The chart below is the short term chart, and the one below that is the longer term chart.
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Переслать - New Record Close For Volatility Indices
Thursday’s dramatic last hour selloff resulted in new record high closes in four of the seven major U.S. volatility indices, including the VIX (^VIX), which exceeded 60 for the first time and established a new record close of 63.92. In addition to the VIX, the VXD (^VXD) (CBOE DJIA Volatility Index) and the RVX (^RVX) (CBOE Russell 2000 Volatility Index) also set new records.
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Переслать - General Motors Falls To 1929 Levels
Don’t look now but General Motors (GM) has dropped its transmission.
That’s the story today at the automotive giant where shares of the bellwether have plunged another 15%.
As a result, the company now carries a market cap of just $3.6 billion vs. earlier highs of $52 billion only eight years ago.
So when was the last time that GM carried a market cap this puny you ask?
It was 1929 in the months before the Great Depression. (So much for buy and … [visit site to read more]
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Переслать - The Lehman Brothers Debacle: Lying Executives, Scapegoats And The Lack Of Accountability
I meant to write about this a few days ago but the situation had me so irritated I was having difficulty writing cogent thoughts about it, in any event here are some facts, figures, news items and commentary related to Lehman Brother’s (LEHMQ.PK) collapse.
First, here is a look at the contrast between their internal struggles and what they said publicly:
From the WSJ’s Law Blog:
- On September 9, Lehman’s stock plunged 45% on news that a … [visit site to read more]
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Переслать - Microsoft And Yahoo Charts Look Bearish
I wish I could share some optimism with all of you, but looks like the worst might be in front of us. There are no clear indications of the gravity of the entire complexity of the crisis; no one has sufficient courage to inform the market, which are the real numbers behind the collapse of the subprime. Yesterday, the US Treasury Secretary warned that more banks will fail despite the $700bn rescue package to shore up the financial system, and also said that the financial crisis would not end … [visit site to read more]
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Переслать - The Pitfalls Of Seeking A Financial Advisor
The great market collapse of 2008 is now well underway. What’s your gameplan? Do you have a strategy for the next ten years? What’s your recovery gameplan? How are you going to get back on track? I think that it’s helpful to evaluate past advisory practice “thinking” - determine whether the base assumptions are still valid, and then continue or devise new methods or ways of thinking so that you will be able to recover.
The basic premise of investing for the large majority of individuals in … [visit site to read more]
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Переслать - Hot Commodity ETFs Now On Ice
The hot streak commodity exchange traded funds (ETFs) saw this year is now on a cooling trend, as values have dropped 26-44% in the three months leading to Tuesday.
The commodities slide is vast, and mutual funds have also taken hits. Crude oil is down 35% over the past three months, and metals such as silver and platinum are down in the range of 34% to 49%. Gold is the only metal that has sustained the dropoff, visit site to read more]
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Переслать - Stock Market Capitulation
Oh the humanity. That’s what I’ve been thinking all this week as the markets have gone down in a fiery crash for six straight sessions. And like you - no doubt - I have found it all to be deeply disturbing.
Unfortunately, that’s exactly what happens when the markets sell off so indiscriminately. In the blink of an eye, the best laid plans are turned to dust and traders get turned into trapped longs.
That’s exactly where we find ourselves yet again this week as the “bailout/rescue rally” … [visit site to read more]
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Переслать - Dow Extends Losses, But ETF Investors Should Stick To Plan
It’s ugly out there for exchange traded fund (ETF) investors, but we have always said and will reiterate that while the temptation is to panic, it’s wise for investors to keep their cool.
These are uncertain times - no one really knows if this crisis is going to end next week, or next year. The only thing you can control is your own reaction, and resist the urge to make decisions out of fear.
Please re-read our visit site to read more]
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Переслать - U.S. Considering U.K. Style Banking Bailout - Why Wasn't It Done In The First Place?
In “well duh” news, recent comments by Treasury Secretary Henry Paulson suggests that the U.S. is considering implementing a bank recapitalization that is very similar to the British one, namely the exchange of cash infusions for preferred shares:
From the FT:
The US could soon follow the UK down the path of using public money to recapitalise weakened financial institutions in return for preference shares.
In Washington on Wednesday, Hank Paulson, Treasury secretary, … [visit site to read more]
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Переслать - Recession Signals: Industrial Production Looks To Decline Again In September
While, the service sector does account for well over 80% of overall US economic activity, industrial production often provides a very timely indicator implying the end of the business cycle and the onset of a recession. The pro-cyclical nature of the report provides a well-timed and sensitive indicator of the current rate of growth in overall output. We expect that the September industrial production report based on our forecast of a -1.4% print will confirm other grim data that the market has … [visit site to read more]
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Переслать - As ETFs And Markets Fall, Government Digs In Toolbox
It seems like every day, a new weapon in the fight to save our economy and exchange traded funds (ETFs) is unleashed.
So far, little seems to impress the markets. Since the $700 billion bailout was approved, things have only gone lower. A fresh interest rate cut didn’t help. What’s next?
There are a few other options, Tom Raum for the Associated Press reports. The government can buy up foreclosed … [visit site to read more]
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Переслать - Micron Technology To Eliminate 15% Of Its Workforce
Micron Technology (MU) announced on Thursday a 15% workforce reduction and restructuring of its memory operations. The company said Thursday the combination of declining customer demand and product oversupply in the marketplace has driven selling prices for NAND flash memory way below manufacturing costs. Cost and price are tied together by supply-demand dynamics. As a result, Micron will shut down its NAND flash memory plant operation in Boise.
Of the 2,850 jobs being … [visit site to read more]
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Переслать - Fiserv: Attractive Value For An Attractive Price
Looking around for a great investing idea in such deteriorating conditions can prove to be difficult… or maybe one has to think in simpler terms. It is important to address the basics of business operations and exploit areas where IT can battle the productivity lost to layoffs.
The financial sector has seen an increasing amount of layoffs not only in the front office … [visit site to read more]
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Переслать - US Treasury Actively Considering Bank Recapitalisation
US Treasury Secretary, Henry Paulson, according to White House spokeswoman Dana Perino, is "actively considering" injecting billions of dollars of bailout money to take ownership stakes in troubled US banks.
Though a decision has yet to be made ; the terms of the bailout on how to spend $700 billion of funds authorised by Congress last week, certainly allow the Treasury to support bank recapitalisation in turn for shares.
At a press conference Perino said: "These capital … [visit site to read more]
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Переслать - Semis Boosted By New Technology
We have found yet another industry where good buys can be had, even in the current tumultuous market. Zacks senior equities analyst Ken Nagy, CFA assisted us in out search by talking about Garmin (GRMN) and Varian (VSEA), a couple of his Buy-rated stocks in the semiconductor industry.
Have you published any Buy reports lately? If so, which ones?
Garmin, … [visit site to read more]
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Переслать - IMF Calls For Coordinated Action In Solving The Current Crisis
International Monetary Fund [IMF] Managing Director, Dominique Strauss-Kahn, said today that problems in the financial markets and in the global economy can be solved "if we act quickly, forcefully, and cooperatively."
At a press briefing, ahead of the IMF-World Bank Annual Meetings Oct. 13, which will be held in the U.S capital, IMF chief said that global financial crisis had been marked by … [visit site to read more]
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Переслать - America's Mark-to-Model (Level 2) Banking System
Is $700 billion really enough? How insolvent are the nation’s leading banks?
Level 1, 2, and 3 assets are ways of classifying a company’s assets based on the degree of certainty around the assets’ underlying value. For example, Level 1 assets can be valued with certainty because they are liquid and have clear market prices. At the other end of the spectrum, Level 3 assets are illiquid and estimating their value requires inputs that are unobservable and reflect management assumptions. … [visit site to read more]
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Переслать - Here's Some Clarity On The Forex Markets Amid The Financial Chaos
The stream of news regarding bailout plans and credit markets remains endless, and market gyrations are still continuing, albeit to a much smaller extent. Today (Thursday) is one rare day this week whereby price swings are not that wild, and traders and investors actually have some time to digest all the humongous moves in the stock and forex markets, and to … [visit site to read more]
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Переслать - S&P Futures Chart - Update
The chart shown here is a 60 minute chart of the S&P futures.
There are two areas that I am watching closely for a sign of short term momentum. The first would be a break above the upper channel line, and the second would be a break below the lower price level (red line). A break below the price level would keep the channel intact and we would likely see more declines.
At this time the market remain very unstable and confused. Be careful out there!
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Переслать - Forex Trading Commentary: Traders Cautiously Limit Exposure To New US Dollar Longs
Euro
The euro moved higher vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3785 level and was supported around the $1.3580 level. The common currency continued its steady comeback this week as traders cautiously limited their exposure to new U.S. dollar longs. Overnight U.S. dollar rates remain elevated and traded around 3.6%, well above the Federal Reserve's new 1.5% target rate for federal funds. Three-month dollar rates remain … [visit site to read more]
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Переслать - HSBC Not Joining U.K. Bailout
We are continuing our Hold on HSBC Holdings, Plc (HBC). The company will report its third quarter trading update on November 10. We are maintaining our EPADS estimates at $6.75 for 2008 and $7.50 for 2009.
Earnings should reflect strong loan and deposit growth, especially in emerging markets, and improved productivity, partially offset by increased impairment charges due to problems in credit markets. Importantly, HSBC announced that it does not intend to take part in the … [visit site to read more]
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Переслать - Short-Term Bounce: Failure To Launch
Almost all of my overbought and oversold indicators that I apply to various indices and ETFs are screaming “oversold!” at the moment. One index in particular, the S&P 400 MidCap Index, stands out among the crowd. The MidCap Index, which has an ETF that trades under the ticker MDY (MDY), has been in existence since 1995. The chart below (courtesy of Yahoo) shows the performance of that index over the past 15 years. If you are looking for an … [visit site to read more]
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Переслать - Bank Ownership Could Help Financials, ETFs
As markets and exchange traded funds (ETFs) continue another day of see-sawing, the Bush administration says it’s considering an ownership stake in some U.S. banks as another tool to deal with the global credit crisis.
No decision has officially been made, but some supporters say injecting capital into the banks could help their balance sheets, reports Martin Crustinger for the Associated Press. The plan is … [visit site to read more]
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Переслать - Doing The Right Thing
America can always be counted on to do the right thing, after it has exhausted all other possibilities. - Winston Churchill
The recently passed $700 billion bailout bill does contain the authority for the Government to buy new preferred stock in troubled financial institutions. At yesterday’s news conference, Secretary of the Treasury Henry Paulson indicated that he might just do that. This would be following the lead of the U.K., which yesterday indicated that they … [visit site to read more]
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Переслать - Credit Crisis Update: An Inside Look At The Commercial Paper Debacle
The commercial paper market is the thoroughfare where Wall Street merges into Main Street. Corporations, finance companies and banks rely on Main Street investors for the cash they deposit into money-market funds and other short-term investment vehicles. Ultimately, that cash buys the commercial paper that’s issued to help fund everything from corporate payrolls to a manufacturing company’s production inventories.
The deepening credit crisis - with its inevitable contagion spreading like a … [visit site to read more]
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Переслать - The Credit Crunch May Cause Another Great Depression
The crisis is shaping up to be a perfect storm - a huge surge in uncertainty that is generating a rapid slow-down in activity, a collapse of banking preventing many of the few remaining firms and consumers that want to invest from doing so, and a shift in the political landscape locking in the damage through protectionism and anti-competitive policies.
Back in June 2008 I wrote a piece for VOXEU predicting a mild recession in 2009. Over the last few weeks the situation has become … [visit site to read more]
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Переслать - Fed Joins Central Banks Around The World In Cutting Rates: Is It Too Late?
Central banks around the world yesterday (Wednesday) announced a coordinated reduction of their respective interest rates in a bid to restore investor confidence and put an end to the worst market rout since the Depression era. However, analysts and investors alike are skeptical that even the largest coordinated effort by central banks since Sept. 11 will be enough to save the economy from a severe recession.
The U.S. Federal Reserve, European Central Bank (ECB), Bank of England, and the … [visit site to read more]
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Переслать - Economists Vs. Wall Street
As the financial system crisis intensifies, causing deeper losses in capital markets, TV audiences have seen a parade of leading economists talk about theory and, of course, their latest book. I thought I’d tell you what Wall Street thinks of these people.
First let me tell you, in case you missed their ruminations, that Yale economist Bob Shiller and Harvard economist Marty Feldstein were featured on Bloomberg TV yesterday. As I see it, they did nothing of significance but yell fire in a … [visit site to read more]
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Переслать - Frontier Market ETFs Poised To Take Center Stage In Recovery
International markets have allured many exchange traded fund (ETF) investors, only to find the markets in Europe and Asia are tied to the United States. Even emerging markets have become correlated enough that they’re getting hit hard right now.
Sam Mamudi for The Wall Street Journal … [visit site to read more]
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Переслать - Pre Market - Shorting Is Back
I was thinking there would be a last minute change of heart from the SEC and they would extend the ban on short selling. But that did not happen and thank goodness, the ban on short selling was stupid and complete nonsense.
US Jobless Claims:
INITIAL CLIAMS: 478K V 475KE; CONTINUING CLAIMS: 3.659M V 3.608ME
- Prior Initial Jobless Claims from 497K to 498K
- Prior Continuing Claims revised from 3.591M to 3.603MI’m expecting another wild ride in the market today. … [visit site to read more]
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Переслать - U.K. Unveils Its Own Banking Bailout Package
The U.K. government yesterday (Wednesday) announced its own banking bailout package with an $87 billion (50 billion pound) recapitalization plan for the ailing British financial sector.
“The global market has ceased to function,” British Prime Minister Gordon Brown said yesterday at a press conference in London. “The banking system must be sounder, and that is why we are putting the capital in.”
Under the plan, the U.K. Treasury will provide $43.5 billion (25 billion pounds) to … [visit site to read more]
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Переслать - ETF Industry Pauses For Breath Amid Turmoil
The financial meltdown felt around the world is certainly not the ideal condition for a new exchange traded fund (ETF) to launch into the market.
There are more than 500 new products awaiting approval in the pipeline, but it is hard to tell if they will see the light of day as the credit crisis gives way to an increasingly uncertain environment without much promise.
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Переслать - Trade Idea For Thursday - Cisco Systems
Cisco (CSCO) - Looking at the daily technical chart there is no reason to take exposure in this stock as there is no evidence of the reversal of the ongoing downward move. The stock is still trading below 50 day and 200 day moving average with both moving average still falling. Another weak sign is MACD which is still below 0. Only a close above $20.56 will reverse the current downtrend. For now, it would be better to stay away from this stock.
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Переслать - Dislocation, Dislocation, Dislocation
It’s said that the three most important things in real estate are location, location, location. Given that US housing was the genesis of the current global financial crisis, it’s worth keeping that little aphorism in mind, as the story of yesterday- and indeed the whole crisis- can be summarized as dislocation, dislocation, dislocation.
Wanna see someone getting screwed? You don’t have to be choosy in your search. In FX, as Macro Man documented yesterday, USD/MXN completed melted … [visit site to read more]
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Переслать - Stock Chart Patterns I'm Watching
These are some chart patterns that I’m following. Some of these could make interesting short candidates after a retracement back to support. Many of them have already had large steep selloffs.
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Переслать - Charting Of The Russell 2000 Index
The Russell 2000 index (^RUT) (small caps) has broken down. I’m projecting a target of 431.80. It may try to retrace up to the trendline before breaking down again. It’s currently in the 3rd wave of a 5 wave sequence. If wave 3 extends, then it could move to the 350 area.
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Переслать - The Stock Market Is Making History
Man oh man, we’re making history here. This past week will be talked about by traders years from today. I know this bear market has taken its toll on many investors, but enjoy it while you can because you’ll never see a market like this in the rest of your life time.
That chart sure doesn’t look pretty, and I hate to say it but it will look much … [visit site to read more]
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Переслать - Global Investing Roundups: AIG, Monsanto, Symantec
- Symantec Corp. (SYMC) was upgraded to "overweight" from "neutral" by a JPMorgan Chase & Co. (JPM) analysts yesterday (Wednesday). “We are upgrading shares of Symantec… as the shares have fallen to a value less than what we … [visit site to read more]
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Переслать - IBM Beats Preliminary Q3 Earnings Estimates
International Business Machines (IBM) reported today its preliminary third-quarter '08 earnings results. The world’s largest computer-services co. beat analysts’ estimates, reiterated its annual forecast, and delivered a dose of reassuring news for its stock which has dropped nearly 18% in the last week.
IBM said its third-quarter '08 profit rose to $2.05 per share, a 22% increase from $1.68 a share on year-over-year basis, which is $0.03 higher than analysts’ … [visit site to read more]
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Переслать - The Fed's Plan To Buy Commercial Paper: Where Does It End?
Here is the full text of the Fed’s announcement that it is going to start buying Commercial Paper:
From the Federal Reserve:
The Federal Reserve Board on Tuesday announced the creation of the Commercial Paper Funding Facility (CPFF), a facility that will complement the Federal Reserve’s existing credit facilities to help provide liquidity to term funding markets. The CPFF will provide a liquidity backstop to U.S. issuers of commercial paper through a special purpose vehicle … [visit site to read more]
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Переслать - TED Spread: How High Is Financial Risk Today?
The market’s fear is reflected in the TED spread, a cute, cuddly name given to the difference in interest rates between inter-bank loans (LIBOR) and U.S. treasury bills. We use 3 month maturities on both to keep things apples-to-apples. The spread has shot up during the financial crisis, but I wanted to put this into some perspective:
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Переслать - Buy And Hold Strategy? Likely To Be Futile Exercise For Many Years To Come
Keeping up with recent events has been an exhausting task. The days of holding stocks in short or long term trades, with your only worry being Google’s (GOOG) earnings report, or worrying about the impact of a surprise “earnings miss” on your favorite stock, are gone. Those types of concerns have been replaced with companies becoming insolvent overnight, bankruptcies, credit market implosions, housing market declines, and bank failures. We even added one more worry to the … [visit site to read more]
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Переслать - Three Stocks I'm Buying Today
It’s time to put some money to work immediately. I don’t profess to know when the markets will turn, or how long it will take, but I do profess to know that there are quality companies out there that are begging to be purchased, if only in small increments at the present, and held on to for years to come.
The three companies that I have added to my portfolio are probably no secret to anyone who has been following my recommendations for some time.
They are:
- Rick’s … [visit site to read more]
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Переслать - Is A Bear Market Rally Around The Corner?
Although the longer-term outlook for share prices remains bleak, it is worth bearing in mind that markets rarely move in a straight line.
Even during the Great Depression, when the Dow Jones Industrials Average (^DJI) lost nearly nine-tenths of its value over the course of three years, there were numerous upside corrections during the period.
In fact, the following chart, courtesy of visit site to read more]
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Переслать - Will Dividend ETFs Be A Crisis Casualty?
As the financial crisis continues to leave no economic stone unturned, dividend-slicing could affect exchange traded funds (ETFs) that hold the stocks of such companies.
Investors love those quarterly dividends, and they account for more than one-third of shareholders’ long-term gains, reports Renita Jablonski for Marketplace. But as the credit crisis spreads wide, many companies are cutting … [visit site to read more]
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управлять всей подпиской: http://www.rss2email.ru/manage.asp - Rick’s … [visit site to read more]
- Symantec Corp. (SYMC) was upgraded to "overweight" from "neutral" by a JPMorgan Chase & Co. (JPM) analysts yesterday (Wednesday). “We are upgrading shares of Symantec… as the shares have fallen to a value less than what we … [visit site to read more]
- On September 9, Lehman’s stock plunged 45% on news that a … [visit site to read more]
- 78.6 Retracement - The DJIA (^DJI) has completed a 1.786 retracement from it’s high of 14,200 to the Wave 1 bottom made on 1/23/08. The Wave 2 high was made on 5/19/08. If you assume that we’re now at the bottom of Wave 3, ready to embark on a corrective wave 4, the the odds for a reversal seem to be very high now. The market has fallen a large distance in a very short period of time. It’s very difficult to want to add large short positions in this environment, … [visit site to read more]
- The Organization of Petroleum Exporting Countries, which produces 40% of the world’s oil, is “very likely” to cut its crude production at its next meeting on Nov. 18, according to the group’s President Chakib Khelil. “The Organization is concerned about the deteriorating economic conditions with contagion risks,” OPEC members said today in a statement. The official production quota for 11 of OPEC’s members is 28.8 million barrels a day. visit site to read more]
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