Good news…Italians found interest in their bond market resurface with a recent auction of $19.6 billion in paper.
Comments »Gold and Silver Explode to the Upside
Global Risk Back On
Everything is trading higher around the world again. The only thing that seems to be down is fair value, the Euro, the dollar, and the yen.
Global stock market performance
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A Lesson From the Dollar Chart and How it Dominates Commodities
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 »
Is BofA a Buy? (video)
Asian Markets Gap Up on New EFSF Plan
Markets Lift on New EFSF Approach
Today’s Biggest Winners and Losers
No. Ticker % Change
1 MELA 65.72
2 ZN 30.54
3 GRNB 14.29
4 GNRC 13.55
5 ONP 11.24
6 GRO 11.11
7 MRNA 11.06
8 HSWI 10.75
9 BORN 10.16
10 GKNT 9.64
11 CRDN 9.17
12 OMEX 9.02
13 AGEN 8.95
14 AEO 8.68
15 INUV 8.38
16 ES 8.16
17 MALL 8.01
18 AIP 7.95
19 ZIP 7.70
20 TNGN 7.45
21 OKSB 7.44
22 PRMW 7.37
23 ING 7.25
24 TIV 7.22
25 DHIL 7.09
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No. Ticker % Change
1 CIIC -29.41
2 RXII -26.26
3 EK -22.69
4 IVN -18.05
5 CPSL -17.19
6 ZANE -15.98
7 CXM -15.61
8 EGI -13.81
9 GAGA -12.43
10 CXZ -12.00
11 AMSC -11.81
12 ATRN -11.46
13 ICAD -11.32
14 LODE -11.16
15 DGLY -11.11
16 GBE -10.98
17 ENER -10.48
18 UEC -10.21
19 SINA -9.88
20 FPP -9.79
21 HPJ -9.77
22 MPET -9.77
23 XUE -9.41
24 SCEI -9.40
25 CIGX -9.32
26 SHZ -9.09
27 ZINC -8.96
28 LPH -8.91
29 MCP -8.85
30 SSN -8.57
31 ZLC -8.50
32 REE -8.49
33 LOCM -8.47
34 JAG -8.35
35 MVG -8.29
36 MDW -8.26
37 SPU -8.26
38 DQ -8.00
39 STLY -8.00
40 ANO -8.00
41 RST -7.90
42 PWAV -7.89
43 TELK -7.89
44 AONE -7.88
45 TPCG -7.86
46 VVTV -7.82
47 AGQ -7.81
48 BGMD -7.80
49 SEH -7.78
50 AGRO -7.76
Quants Rule the World of Trading
Berkshire Hathaway Announces a Buyback Program of No More Than 10% Above Book Value
Upgrades and Downgrades This Morning
Upgrades
TUDO – Tudou initiated with a Buy at Deutsche Bank
TX – Ternium S.A. upgraded to Buy from Neutral at Goldman
MLHR – Herman Miller upgraded to Strong Buy from Outperform at Raymond James
PNM – PNM Resources upgraded to Outperform from Market Perform at Wells Fargo
NVLS – Novellus upgraded to Neutral from Negative at Susquehanna
ABVT – Abovenet upgraded to Strong Buy from Outperform at Raymond James
OXY – Occidental Petro upgraded to Buy from Hold at Citigroup
GMCR – Green Mtn Coffee initiated with a Buy at Argus
ELT – Elster initiated with an Equal Weight at Morgan Stanley
GXP – Great Plains Engy added to Conviction Buy List at Goldman
RRTS – Roadrunner Transportation reinstated with a Buy at BB&T
NFLX – Netflix upgraded to Buy from Neutral at Merriman
NVE – NV Energy upgraded to Buy from Neutral at Goldman
AMD – Advanced Micro upgraded to Buy from Neutral at UBS
FWLT – Foster Wheeler upgraded to Outperform from Market Perform at BMO Capital
EL – Estee Lauder upgraded to Buy at Stifel Nicolaus
ALKS – Alkermes upgraded to Buy from Hold at Jefferies
ROSS – Ross Stores target raised to $92 at Ticonderoga
NVLS – Novellus upgraded to Neutral from Negative at Susquehanna
EXPE – Expedia upgraded to Overweight from Neutral at Piper Jaffray
UTX – United Tech upgraded to Overweight from Equal Weight at Morgan Stanley
Downgrades
FCX – Freeport-McMoRan tgt cut to $54 at Stifel
GR – Goodrich downgraded to Equal Weight from Overweight at Morgan Stanley
EE – El Paso Electric downgraded to Neutral from Buy at Goldman
ITRI – Itron initiated with an Overweight at Morgan Stanley
Comments »Gapping Up and Down This Morning
Gapping up
PT +4.2%, MELA +24.2%, NFLX +5.1%, EXPE +1.6%, OXY3.1%, BCS +6.8%, DB +6.7%, CS +5.7%,
RBS +5.2%, AEO +4.9%, UBS +4%, NOK +3.4%, MT +3.2%, HBC +1.2%, SNY +3.1%, NVS +2.2%,AMD +3.1%,
BAC +3%, JPM +2.1%, PUK +4.6%, BAC +3%, JPM +2.1%, MOS +1.2%, GIS +0.9%, NFLX +5.1%, EXPE +1.6%,
DCTH +12.9%, AEZS +7.9%, AEO +5.1%, CBLI +2.1%, OXY + 3.1%
Gapping down
MCP -2.6%, RIO -0.8%, EK -16%, SLV -6.6%, SLW -4.4%,
Comments »In Play and On the Wires
Heads Up; This Week is Chocked Full of Data Releases
Apple Slashes iPad Orders by 25%
Is this a forecast for the economy over all ? We will have to wait for earnings reports out of Appple and their suppliers.
Comments »Rumors Swirl Over ECB Rate Cut; EU Ministers Dismiss the Notion
Only time will tell. If the debt crisis gets worse it is somewhat logical to assume that rates would be slashed further.
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