Late Night Fun: Hot Fudge For Your Ice Cream Sunday Mr. Bear Shitter ?
This is Why Today’s Rally Was Cut in Half Into the Bell
“So let’s get this straight: the funding hole was €109 billion two months ago, and it is €172 billion, an incremental diferential of €63 billion in two months, or €360 billion annualized. “
Couple that with this and your right back to volatility and gaps downs.
Comments »Carlos Slim Weighs In on How To Uptick American Economy
How Operation Twist Has Worked So Far
Perhaps premature to judge, but some results are in; the question is what are longer term implications ?
Comments »Jim Rogers: US Has More Serious Problems Than Europe
Fun With Health Insurance
Greece Raises Enough Parliamentary Votes For Tax Measures; Bringing Them Closer to Receiving the Next Bailout Tranche
Steve Leisman on his ESFS: Rumor: “The Market is Ahead of Itself”
CNBC Deputy of the Rumor Dept., Steve Leisman, said “if the market is going up on my rumor, it is ahead of itself.” Clarifying the fact that nothing has been resolved in Europe and nothing has even been officially proposed.
He furthered, “Europe is either in for $2 trillion or the euro is done.”
Comments »Upgrades and Downgrades This Morning
Upgrades
CLX – Clorox upgraded to Average at Caris & Company
IVN – Ivanhoe Mines upgraded to Outperform from Neutral at Credit Suisse
MMS – MAXIMUS initiated with an Outperform at JMP Securities
SYK – Stryker upgraded to Overweight from Neutral at JP Morgan
HEP – Holly Energy Partners upgraded to Buy from Neutral at UBS
VRA – Vera Bradley initiated with a Buy at Jefferies
PDS – Precision Drilling initiated with an Outperform at Credit Suisse
UAL – Ticonderoga raises most Q3, lowers most Q4 EPS ests for the airlines
PNRA – Panera Bread initiated with a Buy at Lazard
NCIT – NCI upgraded to Market Perform from Underperform at Wells Fargo
AH – Accretive Health initiated with a Buy at UBS
BG – Bunge upgraded to Buy from Hold at Citigroup
BSX – Boston Scientific upgraded to Neutral from Underweight at JP Morgan
CHD – Church & Dwight target raised to $50 at Oppenheimer
EQY – Equity One upgraded to Hold from Sell at Citigroup
ALXN – Alexion Pharma initiated with a Outperform at Oppenheimer
BAX – Baxter upgraded to Overweight from Neutral at JP Morgan
TSLA – Tesla Motors FY12 ests raised at Dougherty
Downgrades
ZMH – Zimmer Hldgs downgraded to Neutral from Overweight at JP Morgan
ABT – Abbott Labs downgraded to Neutral from Overweight at JP Morgan
FFIV – F5 Networks initiated with a Hold at Jefferies
AMCX – AMC Networks initiated with a Sell at Stifel Nicolaus
CF – Fertilizer sector downgraded at Atlantic Equities
WMS – WMS Industries downgraded to Neutral from Buy at Sterne Agee
HUN – Huntsman removed from Conviction Buy List at Goldman
IT – Gartner initiated with a Neutral at Goldman
RVBD – Riverbed Technology initiated with an Underperform at Jefferies
SYK – Stryker target lowered to $61 from $68 at Stifel Nicolaus
ARUN – Aruba Networks initiated with a Hold at Jefferies
RAH – Ralcorp Holdings target lowered to $84 at Stifel Nicolaus
Comments »Gapping Up and Down This Morning
Gapping up
SLW +8.5%, SLV +7.5%, MCP +6.1%, FTK +5.2%, KGC +4.8%, STD +2.3%, HBC +2.1%, GS +1.9%, GDX +3.4%, OKS +3.3%, HL +3.1%, MEAS +3.1%,
MT +3%, BHP +2.6%, RENN +2.6%, BBL +2.2%, RIO +1.8%, BAC +1.5%, BG +2.1%, POT +2.6% , AFFY +4.5% ,
GEL +2.5%, FTK +7.1%, OKS +4%, WAG +2.3%, TCK +4.2%, EXK +4%, AU +3.9%, AUY +3.8%, OKE +2.3%, FDO +0.7%, IDCC +3.3%HL +3.1%,
MT +3%, GDX +2.9%, BHP +2.9%, BBL +2.9%, RIO +2.3%, DB +6.8%, ING +6.1%, CS +5.4%, NBG +4%, BCS +3.2%, LYG +3.2%, MS +2.7%, C +2.7%,
RBS +2.5%,
Gapping down
Bear short sales…. IDTI -2.5%, KEYW -17.5%, IDCC -0.5%, ACW -8%,
Comments »In Play and On the Wires
Despite New EFSF Approach Merkel States Greece Needs a Firewall for Default
”
“I don’t rule out at all that at some point we will have the question whether one can do an insolvency of states…”
This quote, perhaps more than any other in the past few weeks and months of this impending(?) crisis, tips the E.U.’s economic hand to the markets and world: “We are set to distance ourselves from Greece.”
The never ending flip flop on sovereign debt crisis….
Comments »Gary Shilling Chimes in on U.S. Markets and Future Earnings
If U.S. Hits Recession and Recent History Proves Relevant Then S&P EPS Could Touch Down to $54-$68 in 2012
Not looking to throw a sour twist in your morning’s coffee, but keep your eyes peeled on earnings and recessionary data.
Morgan Stanley did a back test to see how EPS was cut in the past two recessions and if the U.S. hits the skids we may face a huge drop in EPS.
Comments »A Lesson From the Dollar Chart and How it Dominates Commodities
DICK bove: Government Has Broken U.S. Banking System
I’m going to try and challenge this notion.
The banks make a free vig off the tax payers back thanks to the federal reserve… a non government entitity owned by 12 corporations.
The banks do not lend for two reasons; a) they needed and still need the liquidity from time to time to write down bad assets off of the taxpayers back and b) the credit worthiness of the country has been lowered due to banks and greed racking up enormous debt.
Oh and there is a liquidity crisis occurring because of Europe which the banks had to have seen and know of for many years.
So no DICK it is not just uncle sam that has ruined the banking system.
Furthermore the rules, while admittedly restrictive, are a result of a blow back from greedy cocaine snorting criminals committing fraud and consipracy against the citizens of the planet and the global economy.
Comments »EFSF Lever Up Plan Solves Immediate Issues; Not the Root Cause
As far as equities are concerned it probably means risk on for a while; but we still have a cancer to deal with down the road.
This is the article in two sentences “So, it’s America 2.0. Fix the banks, give Main Street the middle finger and move along. Nothing to see here. The good news is that this plan might just buy them enough time to generate a sustainable fix.”
Comments »Goldman Sachs Rules the World…Full Stop
The cancer is growing. wonder what his thought are after today’s new EFSF approach is. With all the secrecy and stonewalling it is hard to know how big and how far along the european banking sovereign debt problem is…..but never mind that ’cause GS rules the world.
[youtube:http://www.youtube.com/watch?v=TNKFKKmzri4 450 300] [youtube:http://ww.youtube.com/watch?v=R-O3kYrDPbI 450 300]Comments »
