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Besides The Market Here is What ‘s Gapping Down

In reaction to disappointing earnings/guidance: UEC -20.9%, CRZO -15.3%, BWS -14.9%, AOB -11.1% (also downgraded to Hold at Brean Murray), ZAGG -8.8%, ATPG -6.4%, DOLE -5.7%, CEL -3.2%.

Japan names under significant pressure with ongoing crisis following earthquake: SNE -6.7%, TM -6.6%, HMC -6.5%, CAJ -6.2%, HIT -4.2%.

Nuclear power related names trading lower for second consecutive day: SHAW -9.1%, BWC -3.8%, FLR -1.7%.

Select uranium related names showing continued weakness: DNN -21.6%, URZ -18.8%, CCJ -17.2%, URRE -17.1%.

Select financial related names showing weakness: AIG -9.3%, DB -6.7%, FITB -5.0%, COF -4.8%, KEY -4.7%, RDN -4.5%, UBS -4.3%, STI -3.7%, PMI -3.6%, RF -3.5%, USB -3.2%.

Select metals/mining stocks trading lower:  CXZ -17.3%, EXK -15.1%, GPL -13.1%, PZG -11.3%, SVM -10.1%, PAL -9.8%, NG -9.7%, CDY -9.5%, SWC -8.7%, SLW -8.6%, PAAS -8.1%, NGD -8.1%, EGO -6.7%, HL -6.7%, ABX -4.7%.

A few rare earth names are also trading lower: SHZ -11.4%, AVL -10.4%, MCP -8.2%, REE -7.3%, GSM -4.2%.

Select oil/gas related names showing early weakness: CFW -12.8%, CPE -12.6%, HDY -9.7%, LNG -9.4%, KOG -7.6%, NOG -7.5%, ROYL -6.6%, BEXP -6.4%, RIG -6.2%, IVAN -6.2%.

Other news: SBAY -29.1% (discloses that James T. Crane, CFO, announced that he will resign from the Company to pursue other professional interests, effective 3/14), CIGX -10.9% (modestly pulling back),  AFL -6.8% (continued weakness on Japan concerns), UTA -6.6% (still checking for anything specific), RLOG -5.8% (files to sell $25 mln in common stock; files to sell 2,279,255 shares of common stock for shareholders ), SNBC -5.2% (announces commencement of public offering of ~$75 mln in common stock), WX -5% (hearing related to pricing), SD -4.7% (provides results for its cash tender offer and related consent solicitation for its 8.625% Senior Notes due 2015), FGP -3.2% (prices an offering of 4.4 mln common units representing limited partner interests at a public offering price of $26.27 per unit ), DELL -3.1% (filed for a $2 bln debt securities shelf offering), HPQ -2.7% (announces new dividend goals, increases regular quarterly dividend by 50% to $0.12 ), ILMN -0.4% (to Offer $800 Million Convertible Senior Notes ).

Analyst comments:  AJG -6% (downgraded to Neutral from Buy at Janney Capital), FSIN -4.4% (downgraded to Hold from Buy at Jefferies), INTC -2.6% (downgraded to Neutral from Buy at Nomura), AMSC -2.5% (downgraded to Hold from Buy at Needham), OXY -2% (removed from Conviction Buy List at Goldman)

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U.S. Futures Bounce off the Lows

In a recent press conference, government spokesman, Yukio Edano, said radiation levels outside of Fukushima were not at dangerous levels.

Japanese markets rallied off the lows, closing down a modest 10 point fucking five percent. In sympathy, global markets staged “idiot runs” to cash.

US futures have moderated a bit and are barely down 200.

Related: the fireman company posing as some sort of high tech electricity firm, Tepco, was placed on credit watch negative by the pigs at S&P.

Oil is down almost 2% and the dollar is up for a change to the tune of 0.5%.

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Sharpest Two Day Decline Since 1949

The two day decline in Japan has erased more than 500 billion in market cap and represents the largest two day decline since 1949.

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Australian Uranium Stocks Decimated

Australia is the largest supplier of uranium in the world, with over 23% of the world’s supply. As you could imagine, the slow motion meltdown occurring in Japan is absolutely destroying the share prices of Australia’s biggest and best uranium stocks.

Shares of Uranex are down 24%, Rum Jungle down 18%, Northern Uranium down 17% and Uranium equities are down 18%, just to name a few.

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Kyodo: Radiation 400 Times Legal Limit

Kyodo is reporting radiation levels at Fukushima, reactor #4, has been measured at 400x the “legal limit.”

Perhaps the cat fuckers at the Hague will issue warrants for their arrests shortly, as they are clearly in violation of international law.

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Crack Spreads Advancing Again

As oil drops, spread are widening, a huge windfall for refinery stocks. Essentially, crude is dropping faster than heating oil/gasoline, leading to widening spreads. At the moment, spreads are at $24+, up 1.18%

Track crack spreads here.

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