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This Day in MV History: 2010

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These articles were published on Minyanville.com on 06th May in History. Checkout how time flies, enjoy reading!

After the Oil Spill Comes Knee-Jerk Regulation

on May 06, 2010 7:45 am by Josh Lipton

Fears of European debt contagion dominate the news but some strategists argue that another near-term fundamental concern centers on a problem much closer to home.Specifically, aside from the riots in Athens, market pros are also zeroed in on the ongoing tragedy in the Gulf of Mexico and the policy fallout that could ensue from this environmental and economic disaster.To bring everybody up to speed... Read More


Chinese Regulations to Affect Tech's Third Quarter

on May 06, 2010 8:20 am by Bob Faulkner

"Cisco should report better-than-expected fiscal third-quarter results." That's a refrain I've heard from about a dozen prognosticators thus far. Given what we've seen from communications equipment-related results for the March quarter you would have to be big into long shots to take the contrarian side of that bet. Aside from the usual fundamental-related commen... Read More


Upgrades and Downgrades: Corning to Shatter Its Glass Ceiling?

on May 06, 2010 8:35 am by Justin Sharon

They say comedy is tragedy plus time and Cosmo Kramer, whose name has impeccable Athenian origins, may one day be able to laugh at how accurate spelling was obviously Greek to those who honored an ex-coworker earlier this week. But right now the Seinfeld funny-man probably doesn't think it's a riot, not with the land of his ancestors taking to the streets in tears. Though ending well o... Read More


Nintendo Losing Gaming Wars

on May 06, 2010 8:40 am by Matt Theal

Nintendo (NTDOY) reported its first annual profit decline for the first time in six years. According to the Wall Street Journal, the company's revenue dropped 22% to 1.434 trillion yen for the year and its profit fell 228.64 billion yen compared to a profit of 279.09 yen the prior year. Nintendo's profits have been hit by declining sales of its Wii game console and DS handheld video-game pla... Read More


Risk Aversion Rules as the Bear Growls

on May 06, 2010 8:50 am by Richard Suttmeier - The Street

Editor's Note: This article was written by Richard Suttmeier, chief market strategist at ValuEngine.com, which is a fundamentally-based quant research firm in Princeton, New Jersey, that covers more than 5,000 stocks every day.The weekly chart for the 10-Year yield clearly shows a return to "risk aversion" with the trend below my semiannual pivot at 3.675. Note how the 200-week simple... Read More


US Housing Market Still Muddled

on May 06, 2010 9:00 am by Andrew Jeffery

Editor's Note: This post first appeared in the May edition of Cirios Trends: In Search of Real Estate Opportunities.It feels a bit like the world is starting to come apart at the seams. Again.The EU finally "solved" the Greek problem, only to find out the solution just accelerated the day of reckoning for Europe's other sick children, Portugal and Spain. Global markets should hav... Read More


Asian Development Bank Launches $9 Billion Solar Energy Plan

on May 06, 2010 9:20 am by Darrell Delamaide of Oilprice.com

Editor's Note: This article was written by Darrell Delamaide for OilPrice.com, which offers free information and analysis on Energy and Commodities. The site has sections devoted to Fossil Fuels, Alternative Energy, Metals, Oil prices and Geopolitics.The Asian Development Bank launched a $9 billion solar power initiative to develop projects generating 3,000 megawatts by 2012.The announcement... Read More


The Moment of Truth for Gold, Silver, Oil, and S&P

on May 06, 2010 10:15 am by Chris Vermeulen

It's been an exciting couple of weeks with the stock market slowly forming its top before breaking down this week. I've been warning everyone to keep tightening their protective stops and to keep new positions small because once prices start to sell off they'll most likely drop like a rock.This week we've seen all the markets around the world break down and this indicates that there could be some... Read More


Fed Policy Stealing From Our Future

on May 06, 2010 10:30 am by David Stockman

We are now well into the second year of green shoots, but in word and deed the Fed remains entombed in the zero interest rate policy (ZIRP). Ultra-low money market rates were allegedly needed 18 months ago to insure that the American people wouldn't be deprived of the munificent services of Goldie and the Fab Five. Since then, these pillars of prosperity -- Goldman Sachs (GS), JPMorgan (JPM), Bank... Read More


Three Retailers Hotter Than Hot Topic

on May 06, 2010 10:45 am by Glenn Curtis

Asian stocks took some lumps overnight. The Hang Seng and the Nikkei were off 0.95% and a hefty 3.27%, respectively. However, European stocks were in slightly positive territory in early trading. And here in the US, we're currently trading lower.Here's what I'm seeing this morning:Hot Topic (HOTT): Is it really? In case you missed it, the retailer that was formerly on fire was out with... Read More


ECB Tries to Avoid a Sovereign Debt Contagion

on May 06, 2010 11:00 am by Todd Harrison

"War does not determine who is right - only who is left."- Bertrand RussellLate yesterday on the Minyanville Buzz & Banter, we chewed through the view that the underlying bid in the late-day tape was in-part related to anticipation of the ECB meeting. While mainstay expectations were that rates would remain unchanged at 1%, speculation was rampant that additional and aggressive act... Read More


Defining All Three Kinds of Option Premium

on May 06, 2010 11:30 am by Michael Thomsett

Have you ever noticed how a strong movement in the price of stock is often not matched by changes in option value? The option premium might move fewer points even when it's in the money, or in some cases move even more. Why?Most options traders are aware of two kinds of premium -- intrinsic value and time value. In fact, there are three, and in order to understand how premium levels change, you ne... Read More


For Safety in Commodities, Look to Food Futures

on May 06, 2010 11:40 am by Justin Rohrlich

Shawn Hackett, president and CEO of Hackett Financial Advisors, a Florida-based firm with a focus on agricultural commodities, is excited.In a report released last night, Hackett writes: Over the last six months, commodities have been flat overall whereas the stock market has been melting up in a runaway liquidity-driven orgy. This decoupling could not continue indefinitely.He explains that t... Read More


Same Store Sales Slip at Discounters, Teen Retailers

on May 06, 2010 12:10 pm by Jeff Macke

Hello from New York, where I shop at Target (TGT) and own stock in Nordstrom (JWN). Judging by today's retail-sales numbers, that combination makes me the exact opposite of the average American consumer as Target, discounters in general, and strange-bedfellow teen specialty retailers missed estimates. The misses were generally better than horrible but the percentage of companies missing was... Read More


A Win for Medtech in Stent vs. Surgery Debate

on May 06, 2010 1:10 pm by Lisa LaMotta

There's long been a debate as to whether stents are just as effective and safe as heart bypass surgery for patients with blocked heart arteries -- a recent study shows that both procedures are equal. A South Korean study from the University of Ulsan College of Medicine of 2,240 patients with a heart blockage called unprotected left main coronary artery stenosis who had received either bypass surge... Read More


No Advisory Panel for Arena's Obesity Drug?

on May 06, 2010 1:30 pm by Lisa LaMotta

Arena Pharmaceuticals (ARNA) reported first-quarter earnings this morning, but there was nothing particularly interesting about the small biotech's numbers. What should be grabbing investors' attention is what wasn't there -- namely a date in which the FDA will hold an advisory panel to review the company's obesity drug lorcaserin. The reason Arena hasn't announced a date yet is because the FDA ha... Read More


What's in a CDO, Anyway?

on May 06, 2010 1:30 pm by Andrew Jeffery

Editor's Note: This post first appeared in the May edition of Cirios Trends: In Search of Real Estate Opportunities.Over the past several weeks, the federal government's increased scrutiny of Goldman Sachs (GS) has brought complex financial securities at the heart of the housing-market collapse back into the government's cross-hairs. I thought an attempted explanation of not just the c... Read More


Random Thoughts: Trying to Stem the Crimson Tide

on May 06, 2010 1:40 pm by Todd Harrison

"Mr. Hunter, we have rules that are not open to interpretation, personal intuition, gut feelings, hairs on the back of your neck, little devils or angels sitting on your shoulder. We're all very well aware of what our orders are and what those orders mean. They come down from our Commander in Chief. They contain no ambiguity." - Capt. Frank Ramsey, Crimson TideWhen I was a child, my mo... Read More


Can Bad News in Europe Be Good News for US?

on May 06, 2010 1:50 pm by James Kostohryz

Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial). In the long term, a weak euro and an overly strong US dollar is bad for the US. Indeed, an overly strong dollar is at the heart of structural imbalances (trade deficits, low savings rates, high debt) that built up in the US in the past few decades. In addition, weak European economies ta... Read More


Can Microsoft Save Internet Explorer From Ruin?

on May 06, 2010 2:00 pm by Mike Schuster

This week, Google (GOOG) debuted a two-minute ad showcasing its Chrome web browser in a variety of speed tests. Shot with highspeed cameras and replete with fast cuts and phenomenal sound design, the flashy short demonstrates the impressive quickness of Google's relatively young browser. The ad coincides with the release of the beta version to Google Chrome 5 which is equipped with many new featur... Read More


Greece's Economic Depression Is Leading to Inflation

on May 06, 2010 3:10 pm by Nadeem Walayat

Editor's Note: This article was written by Nadeem Walayat, an editor for The Market Oracle. The full version of this article can be accessed here.Greece, Europe's Achilles' heel, continues to implode under its budget deficit and total debt burden, sending a series of strengthening shock waves across Europe's credit and financial markets. While many western economies bounce back from the Great Rece... Read More


Dow Freefall Shows We Have a Quant Problem

on May 06, 2010 4:30 pm by Michael Davis

Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial). That move was way too much and over-the-top as the Dow plunged nearly 1,000 points in a couple of minutes this afternoon.We have a quant problem in this market; to say we don't is ignorance. The S&P's and Treasuries were moving so fast it was tough to see with the human e... Read More


Citi Trader Allegedly Causes Big Market Moves

on May 06, 2010 4:45 pm by Jeff Macke

Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial). Rumors abound that a Citigroup (C) trader caused today's 700 points down, 600 points back move. The story has it that a Citi trader intended to enter an order for x-million shares to sell, but, oops, hit the "B" key, meaning "Billion," instead.Chillingly, th... Read More


Did Trading Error Cause Mini-Crash?

on May 06, 2010 5:10 pm by Yaron Sadan, The Hard Trade

Editor's Note: The following was posted in real time on our premium Buzz & Banter (click for a free trial). Also see Yaron's site, thehardtrade.com.As everyone searches for a culprit, the fingers are easy to point: quants, fat fingers, or whatever. Could quants have exacerbated the move? Was it a trading error? Perhaps, and time will tell. But for those out there who are quick to com... Read More
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