Consistent with a slowdown and a “muddling” through period
Comments »Interesting Chart Correlation of Today’s Equity Markets to 1946
Of course the past does not predicate the future, but sometimes you will see history repeating itself…
If we can draw anything; it may be a final bottom is very near.
Comments »First Solar, $FSLR, Loses $1.9 Billion Loan From the Feds
FSLR failed to meet some requirements and the Solyndra debacle probably does not help.
Comments »Head of Democratic Party on Obamacare: not only will millions of Americans lose their preferred coverage, but its price tag is liable to double
Solyndra Executives Plead the 5th Amendment
Millions Shuttered Out of Mortgage Refinancing
Unfortunately, strict lending standards, little lending, and underwater properties kept over 2.5 million people from refinancing.
I have an idea; if we the tax payer are giving free money to the banks with low rates to which the banks buy treasuries and make free money how about letting the banks eat some of the losses in a underwater property.
When a property is foreclosed on the most the banks are making is 60 cents on the dollar. So why not help out your fellow citizens who are in turn keeping you in a survival zombie state of being.
Comments »Upgrades and Downgrades This Morning
Upgrades
TXN – Texas Instruments upgraded to Above Average from Average at Caris
PPDI – PPD Inc. resumed with an Outperform at Wells Fargo
NKE – Nike target raised to $100 at FBR Capital
PCLN – Priceline.com initiated with an Outperform at Macquarie
TMO – Thermo Fisher resumed with Buy at Goldman
WX – WuXi PharmaTech initiated with an Outperform at Wells Fargo
XLNX – Xilinx initiated with an Outperform at William Blair
UA – Under Armour initiated with a Buy at Argus
RMBS – Rambus initiated with an Overweight at JP Morgan
SPWRA – Sunpower upgraded to Hold at Brigantine
FIO – Fusion-io initiated with a Buy at Stifel Nicolaus
ICLR – ICON plc resumed with a Market Perform at Wells Fargo
PPG – PPG Industries initiated with a Neutral at UBS
DFS – Discover Financial Services target raised to $35 from $33 at RBC Capital Mkts
TKC – Turkcell upgraded to Neutral from Sell at Goldman
TSS – Total System upgraded to Outperform from Market Perform at JMP Securities
CVD – Covance resumed with an Outperform at Wells Fargo
YOKU – Youku.com upgraded to Positive from Neutral at Susquehanna
ALTR – Altera initiated with an Outperform at William Blair
IR – Ingersoll-Rand initiated with a Buy at Jefferies
EXPE – Expedia initiated with Neutral at Macquarie
Downgrades
VIP – VimpelCom added to to pan-Europe Sell List at Goldman
ADM – Archer-Daniels initiated with a Neutral at Goldman
CAVM – Cavium Networks downgraded to Hold from Buy at Deutsche Bank
PEP – PepsiCo downgraded to Hold at Stifel Nicolaus
Comments »Gapping Up and Down This Morning
Gapping up
TQNT +2.7%, P +2.5%, RLRN +2.2%, AMAC +63.8%, TIBX +3.7%, DRYS +3.4%, PAA +3.3%,MOTR +12.4%, DANG +1.6%, CTAS +1.4%, CLX +1.2%,
CLNE +6%, NKE +5.4%, FINL +5.3%, MCP +5%, PAL +4.4%,
Gapping down
TOT -3.3%, RIO -4.2%, SDRL -3.7%, SI -3.3%,RDS.A -2.7%, TDW -2.6%, CAVM -11.9%, PIP -8.2%, BBL -2.3%, GLD -2.1%, BHP -2%, BP -2%, GDX -1.3%, AEM -1.2%, SLV -7.4%, MT -6.2%,
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In Play and On the Wires
Iceland Pits Itself as a New Model for Investment
If they succeed then the IMF and World Bank will be in a fully exposed position
Comments »Law Makers Take Government Shutdown To the Brink Again
Americans Add Massive Credit Card Debt YOY
Thought we were cleaning up our balance sheets ?
Credit card debt is up 66% yoy and 368% since 2009
Comments »Fitch: U.S. Money Market Funds Reduce Exposure to European Banks by 8%
Better reduce more as the ECB will not react until next month IF the crisis worsens
Comments »CDS Spreads Blow Out on French and German Banks
Remember the ECB will act next month if the crisis worsens. Apparently this pain is not enough.
Comments »FLASH: U.S. Ten Year Note Hits 1.68%
A fresh low
Comments »ECB Says They Will Be Ready to Act Next Month IF Debt Crisis Worsens
Moody’s Downgrades Eight Greek Banks
Global Markets Ignore G20 Pledge To Help EU Debt Crisis
Asian markets opened down ,but U.S. futures and some European markets were in the green. Despite the G20 pledge to help the current crisis markets and futures reversed.
Comments »Peter Schiff on Operation Twist (video)
[youtube:http://www.youtube.com/watch?v=BCYGVKBOcCo&feature=player_embedded 450 300]
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