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Daily Highlights: 10.5.09
- Asian stocks mixed as Roubini, US data stoke economic growth concerns.
- Bank failures rise to 98 as three close in Minnesota, Michigan, Colorado.
- BOE's Tucker says largest banks pose 'special' risks to financial system.
- China Central Bank says country's lending heading for 'sustainable level'.
- Euro rises against the U.S. dollar despite attempts to boost the dollar.
- G-7 avoids criticism of Dollar, warns against 'disorderly' currency shifts.
- Global semiconductor sales rose 5% in Aug - 6-straight month of sequential gains.
- ISM index tracking service sector expected to hit highest point in a year in September.
- Japan will intervene if yen moves in 'biased direction,' Fuji says at G-7.
- Medical-device makers petition Baucus to shave billions of dollars in fees.
- Oil prices linger below $70 in Asia as investors looked to third quarter earnings reports.
- September sales reports due Thursday may predict Holiday sales trend.
- Service industries in US probably steadied after shrinking for 11 months: Bloomberg.
- ArcelorMittal may quit $20 billion India investment plan.
- Aviva to raise at least $1.6B through a partial share sale of its Dutch unit Delta Lloyd.
- Baosteel seeks 30% stake for GBP1B in Anglo American's Minas Rio iron ore mine.
- Blackstone nears $2.5-3B acquisition of Anheuser-Busch InBev's theme parks.
- Carlsberg protests against a 200% increase in excise duties on beer in Russia.
- CIT Group's proposed debt-restructuring plan may do little to fix its lending business.
- ConocoPhillips says Q3 earnings will suffer; cites weak energy prices, lower refining.
- Delhaize to pay $425 mln for assets of bankrupt southern grocery chain BI-LO.
- Goldman Sachs stands to make $1B if CIT Group Inc. files for Ch 11 bankruptcy.
- Hana Financial Group to sell as much as $1.7B of new shares.
- HSBC Holdings to sell its New York City headquarters for $330M in cash.
- Merger of NBC Universal, Comcast's cable networks face valuation, legal issues.
- Japan's Mazda forecasts smaller full-year loss as green car incentives boost demand.
- Norway's Telenor, Russia's Alfa group say they end legal battles, plan asset merger.
- RBS' plans to sell Asian assets to Standard Chartered appear to have failed over price.
Economic Calendar: Data on ISM Services to be released today.
Earnings Calendar: MOS, PEDH, RBN, RPM, TISI.
Companies to watch: Blackstone, ConocoPhillips, RBS, Robbins & Myers, RPM Intl, The Mosaic Co.
Recent Egan-Jones Ratings Actions:
BERKSHIRE HATHAWAY INC (BRK_A)
SEMPRA ENERGY (SRE)
LODGENET INTERACTIVE CORP (LNET)
TALISMAN ENERGY INC (TLM CN)
PIONEER NATURAL RESOURCES CO (PXD)
MURPHY OIL CORP (MUR)
CIT GROUP INC (CIT)
HSBC HOLDINGS PLC (HSBA LN)
COMCAST CORP (CMCSA)
RRI ENERGY INC (RRI)
JABIL CIRCUIT INC (JBL)
CONSTELLATION BRANDS INC (STZ)
CIT GROUP INC (CIT)
Data provided by Egan-Jones Ratings And Analytics
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So basically, were screwed?
No. Just waiting on Sports Center to start up for a break. Interesting times Sqworl. Have some faith. Screen Some Rot is closer than some would believe.
Have a great week.
Miles: Thanks for the buck up...Interesting times indeed...and very scary.
Here is a tip of Mary Madoff Shapiro!
http://www.forbes.com/2009/10/02/singer-commentary-roundtable-intelligent-investing-schapiro.html
Urgent Web Bot Update Ref: 10/25
The following from Saturday - changes somewhat our expectation for the way things will be working out both in markets and in the defense world over the next month:
"Heads up! Reality Change Ahead!
in running our MOM (model of modelspace) cleanup of the lexicon prior to tuning, it became apparent that October 25 turn in emotions globally will be dominated by a [lock down/implosion] of the [planetary financial/banking system]. The data suggests that such things a [currency trading] and [commodities trading] as well as many other [digital trading forms] will be [suspended]. Some will never resume, or if they do, they will be in entirely different forms. There may be a [banking lock up] in many countries emanating from the USofA outward. There may be [inter bank lock downs] in which [central banks] and [wealth storage clearing houses] will not be able to function. There are data sets suggesting that the rapid shift into building tension language on the 25th originates from and is propelled by the [financial system implosion] that then morphs over into [dollar rejected by all] a mere 10/ten days (more or less) later. There may be shut downs of all kinds of banking activity within the USofA and the rest of the anglosphere.
The [sudden/urgent travel] of the [administration (obama et al) minions] in early November, under this MOM background load shows up as being about [desperately trying] to get the rest of the [planet] to [loan] the actual [resources/wealth] to [restart] the [USofA banking system].
This MOM data set can be wrong in a way that the larger modelspace can not. The MOM set is so small that if it is wrong it is usually widely so. However, the data sets here are so focused, and bring in such crisp emotional shifts relative to the same days (10-25-2009), that it made sense to prepare this note.
If correct, this is the beginning of "The Big One" relative to the dollar and the central banking system. Everything else in the modern world depends on this structure...so it will be a big one throughout all of the social infrastructure.
If MOM is correct, then the [dollar death] will be way more dramatic and waaaay shorter than i had first thought. MOM is showing very dramatic language shifts (albeit against a much smaller background) for not only October 25, but also in a very sharp crocodile tooth pattern from November 4 through December 10th indicating a very very emotionally choppy time.
So, heads up! Reality shift (time/event bump) just ahead. If MOM is correct, there will be some additional levels of [visibility] on October 10th through the 15th that will put a focus on the 'trigger' that will show on October 25th and beyond.
Yeah saw the Web Bot update Saturday. Been following HPH Bot reports for a few years now. Its difficult to say if this will come to fruition as things can be changed or pushed out.....but October has been on the bot radar for many months now---which doesn't bode well for us. Time will only tell how on the money they get this one.
What is really interesting about Web Bot's prediction about the U.S. Peso starting November 4th is that it is the EXACT same date that Jim Sinclair targets with his U.S. Peso Countdown, which began in July at 120 Days!
Will be interesting to watch, but possibly not experience. :(
Sinclair has been unwavering regarding his countdown....kinda makes you wonder what he really knows.
He first published it shortly after his trip to China. Hmmmmmm.....
Gold bug question...people are talking about $1038 as the next level to get through. It seems to me that you are treating the dollar as a static number. If you remap using the dollar index, I think that we went through that a while ago....maybe a good exercise for someone or let me know why that is incorrect.
Well the plan for the west seems to be dump the gold and then face the people with horrible news and be mean. England sold off all it's gold, America probably has sold off all it's gold. So it's gotta crash before much longer.
link
Jim Sinclair's MineSet> http://jsmineset.com/ -- It was first published about July 7th, so it will be in the July 2009 Archives. He does discuss it quite often, so it will be throughout the Archives.
Willie also recently put out an imminent systemic failure alert too:
http://financialsense.com/fsu/editorials/willie/2009/1001.html#
Links to source.
And some sort of credibility analysis of Webbot, maybe hints towards the algorithms etc.
What a piece of bullcrap this is. I mean, the stuff is apparently trying to _for real_ see into the future. Not like "prediction markets", where one tries to group communal knowledge or whatever, which obviously have some kind of credibility - but _actually_ see into the future based on .. magic.
My god what stuff that creeps up here at ZeroHedge.
Web Bot is an interesting model based upon an equally interesting thesis. It has been around for several years.
If you want to judge something, do some damn research FIRST.
Are you capable of doing a SIMPLE Google search?
If yes, DO IT!
If no, I will help and provide a link.
Hey Tyler, I logged in , then out, then in....Do we have our own little dark pool on new content?
"Treasury to Announce Three More Firms to Get Funding From PPIP"
http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=GS:US&sid=a.SNyRf...
From SeekingAlpha that links to it: "PPIP to swell to $12.27B. The Treasury will announce today that AllianceBernstein (AB), BlackRock (BLK) and Wellington Management have raised a combined $1.94B to participate in government's scheme to soak up toxic assets from banks, known as PPIP. For their efforts, the Treasury will match the $1.94B dollar for dollar, and provide debt financing to double that, bringing their total purchasing po wer to $7.74B. Last week Invesco (IVZ) and TCW became the first two PPIP investors with a combined $1.13B."
Haven't you guys killed this shit yet?! I do not understand this: Haven't you already given WAY TO MUCH MONEY to the banks? Isn't this stuff simply utterly insane?!