Earlier we wrote up a note from BNP Paribas discussing the dramatic economic collapse that would happen in Greece (on top of what’s happened already!) were Greece to quit the Euro.
But before Greece gets to that state, something else has to happen first: basically, the mother of all games of Chicken.
Full article
Spain is said to be underestimating the problems in their banking system. The recent requirement to set aside funds is only good for half the losses that could be realized. Will they go the way of Ireland ? Find out more in this descriptive article.
Comments »Are you confused about the markets ? Down’t worry since most investors are on the sidelines and the robots have taken over.
Given the European close and our markets not really responding, i have a tendency to think that there is no gas left in today’s rally. Would not be surprised if we close flat.
One common theme that many charts display is the 20 day sma has fallen through the 50 day. Take a look here…
Both the bulls and the bears can make an argument for why this is good. Bulls can say we need a rest while bears will say this is the beginning of the unavoidable.
Looking at the S&P we would be safer to place our bets, (on the long side,) if we see a close above 1378. Otherwise imo we are in no mans land waiting to see which way the markets will go. On the downside a close below 1354 would not be good for the bulls.
I will continue to day trade the volatility as i find this the best environment to make money. Otherwise this market is perfect for a ….
GLT
[youtube://http://www.youtube.com/watch?v=EEEzbFxEbB8&feature=related 450 300] Comments »via Jeff Bailey at ycharts.com
love free shipping as much as the next person, and also find the level of service at Amazon to be fabulous, so I read with great interest Jason Calacanis’ latest post on the Launch blog, “The Cult of Amazon Prime.”
“There are two types of people in the world: those with Amazon (AMZN) Prime and those without,” Calacanis begins. He has it and loves it, estimating it saves him 250 hours a year by keeping him out of stores and also lets him avoid “the most horrifying experience of all: retail employees.” He adds: “One of the greatest joys of the cult membership is never again having to deal with an apathetic teenager or bitter baby boomer forced to work retail.”
Comments »Dear Mark,
Congratulations!
Through vision, grit, persistence and brilliance, you are about to launch the largest IPO in American history.
You have understood our needs and desires for connection and communication better than we understood them ourselves.
You have gathered a great management team around you, hired the brightest and most motivated employees, and maneuvered through a competitive landscape that is unprecedented in its complexity and pace of change. You are a great entrepreneur who will now define and personify our ideal of American innovation. You have made history and changed history, not just on Wall Street but on streets around the world. You have altered everything from teenagers’ social lives to tyrants political calculations.
None of us can imagine what it feels like to be you, which is one reason the cameras are ever-present and there will be more books and movies.
However, some of us can imagine the transition Facebook must now go through as the company rushes, with huge fanfare, headlong into the world of publicly traded stocks. (In 1995, I helped lead what was then the largest-ever IPO, spinning out Lucent Technologies from AT&T On the day of our New York roadshow, the WSJ headline read: “It’s The Rolling Stones, it’s Barbra Streisand, no it’s the Lucent roadshow”.)
Whatever the ultimate valuation of Facebook, it will be one of the most sought-after equities in the world.
It is in that spirit that I humbly offer three tips:
1) Do not change your focus on the creation of long-term value or deviate from your strategic ambitions.
While this may seem simple and obvious, it will become increasingly difficult. The majority of investors now hold stock for an average of four months. Most money-managers are rated annually on their performance against benchmark indices. While you are focused on the longer-term, those who buy your stock are focused on the shorter-term. And because your stock has received so much hype, these short-term investors will be very impatient. While you, your team and your Board know that their impatience cannot drive company strategy, their pressure will be real.
Do not establish the precedent of providing quarterly earnings guidance. While you must of course protect competitively sensitive information, communicate as proactively and transparently as possible about your strategic goals and operational performance metrics as well as how you track your own progress and performance against both.
2) Whatever the ultimate valuation of Facebook, it will be one of the most sought after equities in the world.
A lot of people are now counting on your performance. Beyond risk-tolerant venture capitalists, risk-averse pension funds and 401ks will now own your stock. Expect a lot more questions about how you make decisions.
Many of these questions will be driven by current headlines and conventional wisdom, but they are nevertheless legitimate. Your new owners want to understand how you lead and how you evaluate choices.
Answering them will encourage longer-term holdings.
3) Be patient.
No one knows more about Facebook, or has more riding on its performance, than you. That won’t stop what will quickly seem to be endless commentary, scrutiny, suggestions, questions and sometimes, criticisms. Some of it will be thoughtful, some ignorant, some well-intended and some malicious. Be open to what makes sense and try to ignore the rest.
You have come very far, very fast and the sky is still the limit.
You represent all that is right about our economy, our markets, our nation. In the midst of all the pressure and expectations, hold onto who you are and what you do best. We are all rooting for you.
Carly Fiorina
source: CNBC
Comments »Into the close of European markets the indices seem to be sticking their gains.
European markets were happy to hear that attempts are being made to form a coalition government in Greece; but the main topic of concern was Spain. Spanish authorities nationalized the 4th largest bank sending the Spanish stock market up 3%.
Comments »
[youtube://http://www.youtube.com/watch?v=Q4AKkF97fcE 450 300] Comments »
“They have spent less time in the Oval Office than their conservative counterparts over the last five decades, but Democratic presidents have presided over better private sector job growth than Republicans.
Here are this morning’s hybrid movers, click for charts.
Comments »NYSE
New Highs 32 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Airgas Inc ARG 92.60 15,910 Aspen Ins Hldgs Perp Pfd AHLpB 25.14 54,421 WR Berkley WRB 39.05 31,872 BlkRk MuniHldgs CA Qlty MUC 15.96 17,525 BlkRk MuniHldgs Quality MUS 15.07 8,686 BlkRk MuniYld CA Quality MCA 15.69 9,579 Chesapeake Lodging Tr CHSP 18.64 2,400 Coca-Cola Femsa KOF 109.14 3,100 Family Dollar FDO 70.00 73,652 FirstEnergy FE 47.60 1,760,121 FleetCor Technologies FLT 41.30 66,891 Hershey HSY 68.45 83,216 Invesco CA Qty Tr IQC 14.69 1,667 Invesco VnKmCAInc VCV 14.34 16,168 Kimberly-Clark KMB 79.93 150,836 M/I Homes MHO 14.46 20,557 MarriottVacations VAC 31.02 33,187 McCormick & Co MKC 56.84 20,964 Monmouth Real Es Inv Cl A MNR 10.55 6,953 Nuveen NJ Investment Qual NQJ 15.39 1,018 Nuveen NJ Premium Income NNJ 16.06 836 Nuveen Sel 3 NXR 14.87 1,422 Post Properties PPS 50.62 55,934 Putnam Muni Opportunities PMO 12.91 17,054 Scripps Netwrks Inter A SNI 55.35 50,402 Sherwin-Williams SHW 125.20 99,955 Tanger Factory Outlet Ctr SKT 32.75 104,560 Toll Brothers TOL 27.50 527,582 Weingarten Realty Inv WRI 27.47 33,859 Wstrn Asset Muni Ptnrs Fd MNP 16.51 1,443 Wstrn Asset Worldwide Inc SBW 14.89 5,906 White Mountains Insur WTM 545.00 414 New Lows 8 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ Ares Commercial Real Est ACRE 16.26 23,588 Banco Bradesco ADS BBDO 12.94 200 Buckeye Partners BPL 51.80 25,023 Kaydon Corp KDN 22.96 35,980 Memc Elec Materials WFR 2.99 1,861,432 NTT DOCOMO Inc DCM 16.31 23,327 Sinopec Shanghai Petro SHI 32.19 4,004 U.S. Silica Holdings SLCA 14.58 27,710
NASDAQ
New Highs 28 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ AMERISAFE AMSF 27.88 8,091 Astrotech ASTC 1.32 25,079 BSB Bancorp BLMT 12.90 700 Beacon Roofing Supply BECN 27.60 329,517 Bona Film Group ADS BONA 6.20 33,700 Bridgeline Digital BLIN 1.42 9,318 CalAmp CAMP 6.43 12,410 Casey's General Stores CASY 60.22 9,556 Charter Communications CHTR 68.06 31,037 First Merchants FRME 12.82 3,806 Franklin Financial FRNK 15.00 15,039 Hain Celestial Group HAIN 52.62 40,406 ICU Medical ICUI 53.79 12,708 Inventure Foods SNAK 6.74 9,149 iSh Barclays GNMA Bd Fd GNMA 55.00 300 iShs FTSE EPRA/NAREIT NA IFNA 48.76 439 LKQ LKQX 35.17 52,678 Linktone (ADS) LTON 1.72 1,910 Liquidity Services LQDT 66.23 29,573 MutualFirst Fincl MFSF 11.43 100 NewsCorp A NWSA 20.45 3,788,950 Penford PENX 9.65 1,300 PhotoMedex PHMD 18.05 9,050 Quest Software QSFT 25.32 160,019 Retail Opp Inv wt ROICW 1.75 3,750 Saia SAIA 20.84 4,513 Susser Hldgs SUSS 30.44 10,510 21st Century Hldg TCHC 5.17 3,801 New Lows 13 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ Advocat Inc AVCA 4.01 5,960 Cavium CAVM 24.08 205,341 EnerNOC ENOC 5.60 23,983 GT Advanced Technologies GTAT 5.89 96,399 Green Plains Renew Engy GPRE 6.96 25,678 NeurogesX NGSX 0.31 66,879 Peerless Manufacturing Co PMFG 11.66 12,083 Quality Systems QSII 28.82 593,996 SMART Technologies SMT 2.24 8,500 Silicon Graphics Intl SGI 6.90 926,049 Telestone Techs TSTC 2.50 7,998 Utd Online UNTD 3.95 62,601 Windstream WIN 10.13 4,939,088Comments »
“Federal Reserve Chairman Ben Bernanke said that many businesses and consumers are finding it easier to borrow as banks shore up their balance sheets.
 |
|
Getty Images
Federal Reserve Chairman Ben Bernanke.
|
Speaking by teleconference from Washington, he noted that the capital and liquidity positions of banks have been strengthened but he also said home mortgage lending continues to be very tight.
Bernanke said home mortgage credit outstanding with banks has contracted about 13 percent from its peak.
In response to criticism that regulators have made it difficult to lend, Bernanke said the Fed is taking a “balanced approach” in supervising banks.”
Comments »“A group of 18 CEOs have sent an open letter to Treasury Secretary Tim Geithner urging the continuation of favorable tax treatment for dividends and capital gains.
The CEOs come from blue-chip companies such as Verizon and Duke Energy. They posted the letter on Politico.
Long-term capital gains and most stock dividends are currently taxed at a 15 percent rate. ”
Comments »America has a serious problem saving for retirement.
About 49% of Americans say they aren’t contributing to any retirement plan, according to a new survey conducted by LIMRA, a trade association for the financial services industry.
“The findings from this survey were disturbing, given that people will increasingly need to rely on their personal savings to make ends meet in retirement,” said Matthew Drinkwater, associate managing director at LIMRA’s retirement research division.
People ages 18 to 34 are the least likely to be saving, with 56% reporting that they are not currently contributing to a retirement plan like an IRA or a 401(k).
“In order to have the adequate savings necessary to meet their financial needs in retirement — which could last 20 or more years — it is critical that these individuals begin saving systematically early in their working years,” Drinkwater said.
Read the rest here:
Comments »-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE BAC 5/11/12 8.0000 1999 0.0300 dn 0.0100 AMZN 6/16/12 225.0000 214 9.2000 up 0.3000 CSCO 10/20/12 19.0000 125 0.5500 dn 0.7200 GLD 5/19/12 155.0000 103 1.5900 up 0.0700 CSCO 5/11/12 18.0000 100 0.0200 dn 0.9600 AAPL 5/19/12 570.0000 99 11.5600 up 0.8600 AAPL 5/11/12 565.0000 97 9.8700 up 2.5400 AAPL 5/11/12 580.0000 97 1.2000 dn 0.1000 FCX 5/19/12 36.0000 84 0.8100 up 0.0600 GLD 6/16/12 160.0000 77 1.3100 dn 0.0100 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE WIN 5/19/12 10.0000 150 0.1800 up 0.1400 BAC 5/11/12 8.0000 137 0.1900 dn 0.1200 AAPL 5/11/12 570.0000 107 2.0500 dn 2.6500 JCP 6/16/12 30.0000 93 0.9400 up 0.0300 AAPL 5/11/12 575.0000 82 4.1500 dn 3.3200 CSCO 5/11/12 16.0000 71 0.0100 up 0.0000 GLD 5/19/12 155.0000 69 1.4600 dn 0.5600 AAPL 5/11/12 580.0000 67 8.0700 dn 3.0800 TM 5/19/12 77.5000 66 0.3000 dn 0.5600 CSCO 5/11/12 18.0000 63 0.8300 up 0.6200 -VOLUME- CALLS PUTS TOTAL 17867 15769 33636
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE CSCO 10/20/12 19.0000 13177 0.5500 dn 0.7200 BAC 5/11/12 8.0000 12571 0.0200 dn 0.0200 PBR 5/19/12 22.0000 8303 0.3300 up 0.1000 SPY 5/11/12 139.0000 2886 0.0500 up 0.0000 SPY 6/16/12 143.0000 2200 0.4700 up 0.1100 SPY 5/11/12 138.0000 2141 0.2000 up 0.0800 PANL 5/19/12 45.0000 2003 0.1000 dn 0.8000 ELN 7/21/12 13.0000 2000 1.3000 up 0.1000 ELN 7/21/12 17.0000 2000 0.4000 up 0.0000 INTC 6/16/12 28.0000 1870 0.4500 dn 0.0200 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE CSCO 10/20/12 16.0000 13491 0.7600 up 0.2300 SPY 5/19/12 130.0000 10051 0.1500 dn 0.1700 SPY 5/19/12 132.0000 5272 0.3100 dn 0.2600 SPY 5/11/12 132.0000 2515 0.0300 dn 0.0700 SPY 12/22/12 117.0000 2500 3.5900 dn 0.2200 SPY 6/16/12 134.0000 2215 2.2400 dn 0.5400 CSCO 5/11/12 17.0000 2138 0.0700 dn 0.0100 SPY 5/19/12 136.0000 1943 1.1500 dn 0.6200 SPY 6/16/12 135.0000 1752 2.5200 dn 0.6100 SPY 5/19/12 137.0000 1615 1.6000 dn 0.7400 -VOLUME- CALLS PUTS TOTAL 286958 273093 560051Comments »
“(Reuters) – The Florida Supreme Court is set to hear oral arguments Thursday in a lawsuit that could undo hundreds of thousands of foreclosures and open up banks to severe financial liabilities in the state where they face the bulk of their foreclosure-fraud litigation.
The court is deciding whether banks who used fraudulent documents to file foreclosure lawsuits can dismiss the cases and refile them later with different paperwork.”
Comments »
