During his speech, he did not mention corporate jet guys.
Comments »Monthly Archives: July 2011
Commodity Trader Peter Brandt Sees a Potential 75% Correction in the U.S. Markets Using Chart Chomping Technical Analysis
“I hate being a doom and gloomer. I am a believer in American exceptionalism. It is mind boggling to consider the changes in the world during my lifetime (64 years). Extend time back approximately another 64 years prior to my hatching, and the world had:…..”
Comments »Rome is Burning; Yields Blowout in Europe
Consumer Sentiment: Prior 63.8, Mkt Expects 64.5, Actual 63.7
Rumors Circle Over Inability to Bailout Greece
“The greatest shortcoming of the human race is our inability to understand the exponential function.” ~~
Dr. Albert Bartlett
Comments »Chevron, CVX, Profits Rise on Strong Oil Prices
CVX reported $3.85 vs $2.70 YOY. Consensus was $2.70 and revenues were up 30% to $69 billion….
Comments »Chicago PMI: Prior 61.1, Mkt Expects 59.5, Actual 58.8
Tea Party Consequences
So the tea party has shown itself to be formidable in the political process. It has caused divide among the republican party and has insisted on more representation.
Now we need a left counterpart and perhaps we can have more than just a two party system.
Of course the folly continues in the debt debate. Republicans scramble to find votes.
Comments »European Oil Majors See Margins Clipped by Weaker Greenback
The dollar is probably weighing in on the nerves of overseas companies and governments as slowly gets debased over time.
Comments »Upgrades and Downgrades This Morning
Upgrades
AIZ – Assurant upgraded to Buy from Neutral at Sterne Agee; tgt raised to $46 from $43
MO – Altria upgraded to Buy at Stifel Nicolaus
DRIV – Digital River target lowered to $36 from $40 at RBC Capital Markets
VRTX – Vertex Pharm upgraded to Buy from Hold at Citigroup
CL – Colgate-Palmolive target raised to $90 from $86 at RBC Capital Markets
EXP – Eagle Materials upgraded to Neutral from Underweight at JP Morgan
CELG – Celgene target raised to $62 from $58 at RBC Capital Markets
Downgrades
SQNS – Sequans Communications downgraded to Hold from Buy at Jefferies
POT – Potash downgraded to Sector Perform from Outperform at Scotia Bank
CNX – Consol Energy downgraded to Neutral from Buy at Davenport
AIG – American Intl initiated with a Hold at Citigroup
ROK – Rockwell Automation downgraded to Sell from Hold at Societe Generale
RCL – Royal Caribbean downgraded to Neutral from Overweight at JP Morgan
VPRT – Vistaprint downgraded to Perform at Oppenheimer
STEC – STEC Inc downgraded to Underweight from Neutral at JP Morgan
MMI – Motorola Mobility downgraded to Market Perform from Outperform at Wells Fargo
FCBC – First Comm Banc downgraded to Market Perform from Outperform at Keefe Bruyette
STEC – STEC Inc downgraded to Hold at ThinkEquity
SWIR – Sierra Wireless downgraded to Market Perform from Outperform at BMO Capital
Comments »Gapping Up and Down This Morning
Gapping up
STMP +13.3%, CHK +2.3%, JAZZ +4.9%, NTRI +4.8%, MXIM+4.5%, CERN +4%,CNX +1.9%, N+1.7%, MCK +3.9%, VRTX +3.4%, ZOLL +3.4%,QLIK +5.9%, EXPE +5.6%, VOD +5.4%,PCLN +1.5%,PWER +3.2%, SBUX +2.6%, MET+2.5%,INPH +11.5%, TORM +10%, MSCC +9.4%, IM +9.4%, CMC +9.1%, TRLG +7.7%, RGC +6.4%,
Gapping down
DRIV -9%, VE -7.4%, OCZ -7.3%, TNAV -35.5%, QLGC -2.7%, SLW -2.6%, ARBA -4.2%, OCLR -5.1%, CTCT -4.6%, ACOM -4.2%,BHP -1.5%, DECK -1.5%, BP -1.3%,EMN -2.2%, NEM -2.1%,VECO -4.1%, MMI -4%, PEIX -3.7%, STEC -35.3%, VPRT -30.4%, RLD -18.2%, CSTR -1.9%, RIG -1.7%, SYNA -6.9%, ISTA -6.3%, NETL -5.1%,TOT -1.7%,TRID -16%, NANO -12.7%, NTGR -11.2%, NXPI -11.1%, IPCM -10.2%,
In Play and On the Wires
Q2 GDP: Prior 1.9%, Mkt Expects 1.7%, Actual 1.3%…Futures Tank and 10 Yr Yield Drops to 2.88%
Mobius: U.S. Dollar and Treasuries No Longer Safe Havens
Seems like people are diversifying vs abandoning the U.S.
But we shall see if we have a default.
Comments »Merck & Co. , MRK, Plans to Cut Up to 13% of its Workforce
The company will save up to $4 billion and add it to the bottom line.
Fun times for sure.
Comments »Google Improves its Portfolio With the Purchase of Many Patents From IBM
Google is trying to get ahead of patent infringement lawsuits it faces with the purchase of patents.
Comments »Hedge Fund Managers Create Alliances to Avoid Regulation and Start Up Costs
Apparently giving up autonomy helps to avoid regulation by having headquarters over seas. This also cuts down on the costs associated with regulation.
Comments »European Inflation Slows More Than Estimates
Inflation slowed to 2.5% from 2.7%. It is however above the 2% target rate of the ECB….
Comments »The Yen and Swiss Franc Rally Against the Greenback As Investors Seek Safe Haven
I think any currency is vulnerable if the Euro or the dollar were to ultimately collapse.
Think fine art, gold, silver, real estate, and raw land as a safe haven.
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