- Please go back and read Succ's opener - it is a perfect example of mission of the 'Ville (to provide value-added, unbiased analysis that cuts through the considerable noise out there and help our subscribers to make better and more informed decisions to improve their trading / investment approach).
- The Wall Street Journal reports that Saudi Arabia will more than double investment in energy infrastructure and will spend $50 bln over the next five years on energy development. The oil minister also said the country had set aside its OPEC production cap and was willing to sell as much oil as possible and said it was studying long term plans to boost capacity to 15 mil barrels a day.
- Keeping tabs on the tab for Iraq
- Tough loss for the O's - I'm guessing the homeplate umpire was from South Boston after calling Palmiero out at home plate.
- What's wrong with medicine
- South Korea will issue treasury bonds with maturities of more than 10 years in 2006 and will also increase the amount of outstanding debt to help develop Asia's second-largest debt market, the government said on Friday according to Reuters.
- "We don't have to be smarter than the rest; we have to be more disciplined than the rest.
- Level Check:
- INDU: 10000 / 10400
- SPX 1136 / 1164, 1175, 1187
- NDX 1404.86 / 1460, 1480
- RTY 577.66, 584.96 / 604, 613, 620
- Also keep an eye on TNX 4.20% & 4.40%
- AMG Data reported that equity funds inflows for the week ended April 20 were $154mil and the largest domestic equity inflows reported by equity income funds with $322mil, SPY inflows $398mil, XLF inflows $191mil, XLE inflows $157mil, IWM outflows of ($1.181bln), with EWJ outflows o f($122mil); taxable bond funds outflows of ($285m), HY bond fund outflows of ($679m); treasury bond fund inflows of $204m, TLT inflows $100m; money mkt funds reported outflows of ($5.609bln).
- Yowzer! Google (GOOG) reported Q1 EPS of $1.46 vs $0.93 cons. on revs of $794 mln vs $729.8 mln cons. Adjusted EBITDA came in at $548 mln. GOOG is trading up to $222 after closing at $204.22
- "Taking a step back I remind everyone to pay attention to financials, which generally are down on the day. This is one of the last sectors that haven't seen significant damage. I also think it is key for the market.
Bonds are down giving back their "safety" rally, although I always think that is a joke.
This economy is all about credit expansion and the credit providers like KRB, PVN, and COF are all down substantially on the day. Money centers are so far flat into this rally.
I continue to sell deltas into this rally. Not overly aggressively here knowing the momentum is for right now strong, but keeping a close eye on the financials." (John Succo yesterday on the Buzz)
What does the NYSE / AX deal mean for the trading community?
"Joint Committee Investigates Marijuana Use" - a local newspaper of a suburb of Toronto, describing a committee set up by the board of education and the local municipality to investigate marijuana use among high school students
"I actually burst out laughing when I read one of them, via the following headline on Bloomberg: "Greenspan Says China's Yuan Peg Causing Resource Misallocation."
I could not help but be struck by the irony of him supposedly being able to see that the yuan peg was causing a misallocation of capital in China -- when he professed to be unable to see the misallocation of capital happening here in America during the stock bubble, and ditto the massive misallocation of capital presently working in our housing bubble.
Of course, we now know that Greenspan appeared to have understood there was a bubble going on. He just chose not to do anything about it. So, the man who is responsible for more misallocation of capital than any human being in history wants to tell the Chinese what their business is when he refuses to attend to his own job."
(Fleck from his site www.fleckensteincapital.com)
"I've been a stand-in stunt man I've taken some falls
Troubles I've had my share
But one has to learn how to run before walkin round
Breathin' that million air"
Good luck today!
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter