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Gapping Up and Down This Morning

Gapping Up

JNJ +3%,DANG +1.9%, YOKU +1.4%, QIHU +1.3%, BBL +1.2%, BHP +0.9%, MT +0.5%, BIDU +0.9%,  MICC +6%, CR +9.2%, NVS +3%, ALU +1.8%, S +1.3%, DEO +1.1%, X +1.8%, AKS +0.7%, X +1.8%, AKS +0.7%, SNE +6.0%, GS +1.4%, DEO +1.1%, SDRL +1.9%, STLD +5.4%, WWW +4.7%, ZION+4.5%

Gapping Down

HOG -2.8%, TXN -2.3%, INVE -5.1%, BMI -8.6%,NLST -2.5%,LOGI -2%

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As Good as Goldman

Goldman Sachs reported sales and earnings well above Wall Street estimates Tuesday.

The Wall Street firm reported net income of $2.74 billion, or $1.56 a share, against $3.29 billion, or $5.59 a share, in the same period last year.

Revenue came in at $11.89 billion, against revenue of $12.77 billion a year ago.

Analysts who follow the company had expected earnings of 82 cents a share on sales of $10.22 billion, according to a survey conducted by Thomson Reuters.”

Full article

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Look the Other Way; Graphic Videos From Libya

The U.S. & NATO  has had to ignore some chilling facts about who we are supporting…..but war is a dirty business for sure.

Warning these videos are only for the morbid, pathologists, and those who can put things out of mind.

Full article

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Forget Cold Turkey; QE2 Methadone Mixed With a QE3 Relapse is More Like It

Thought the recovery was moving along and that according to the bearded clam we were not to worry over inflation…..

“The Fed chief’s top two lieutenants said this month the economy and inflation are too weak to warrant the start of a monetary-policy reversal.”

Full article

Counter punch article on the end of QE2

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UN Sanctions Put Libyan Oil in Limbo

“I don’t think they realized the complications the sanctions would create, and now they’re trying to backtrack on the question of selling oil and on the arms embargo,” a U.N. diplomat told Reuters on condition of anonymity.  

Full article

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Asia Getting Poleaxed

Hong Kong -1.4%

Japan  -1.5%

China -1.4%

Australia -1.34%

S&P futures are now down 6.

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China crops reportedly in short supply

As if the droughts weren’t enough, they apparently coincide with a contraction of 8.33 million hectares of farmland over the last decade.

China’s farmland per capita is less than half the world average, and one-sixth that of the U.S., according to China Comment, a Communist Party magazine. Actual land loss may be greater than the government’s numbers suggest, as local officials fudge figures and illegal use proliferates.

The basic gist of the story is that China has far too little land set aside for farming, and in conjunction with growing world populations, global food supplies are going to be hard pressed.

Archer Daniels Midland Co., Bunge Ltd. and Cargill Inc. were among U.S. food companies that in January won $6.68 billion of deals to supply China with soybeans, the U.S. Soybean Export Council said.

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