They sell great brake pads. You know, you can get a good look at a butcher's ass by shoving your head up it but wouldn't you rather take his word for it?
They're up big pre-market again. Jobs number came out a bit better than expected, too. CIT also up again pre-market.
The govt is screwing the numbers. http://www.bls.gov/news.release/empsit.nr0.htm total employment went down by -155,000. number unemployed went down by -267,000. Total number leaving the workforce was 637,000. Unemployment didn't go down because of hiring, but it went down because people are leaving the workforce.
New CEO said yesterday that he is "not a divester" and he's tired of the apologizing and hiding from everyone. He wants to bring the company back, not sell it off. Who knows if this can be done, but he sure is talking a big game.
I kind of wish I would have gotten into LDSR after the first major spike. I'm starting to invest heavily in CHK and DVN.
From my chart analysis, I'm shorting FXI. Looks like a pretty steep decline coming up. It's looking like this decline will last from now until mid-September. - Stakes are High
This story fits your thoughts. China’s Major Ports Unload 35% More Iron Ore in July <i> Aug. 4 (Bloomberg) -- <b>China, the world’s biggest iron ore buyer, said its major ports handled 35 percent more of the steelmaking ingredient last month from a year ago.</b> Ships unloaded 56.5 million metric tons of iron ore in July at major ports, the Ministry of Transport said on its Web site. The ministry didn’t provide comparative figures. Crude steel output in China jumped to a record in the first half and cash iron ore prices have gained 33 percent this year as a $585 billion stimulus by the government improves building demand and auto purchases. The China Iron & Steel Association has blamed traders for the rising imports, which have hurt its ability to negotiate for lower contract prices. “The increase in iron ore imports in July was partly boosted by small steelmakers buying ore at lower spot prices,” said Roslyn Ji, an analyst at Core Pacific-Yamaichi International Holding in Beijing. Spot iron ore prices traded at $95.30 a ton yesterday according to the Steel Index. They averaged $83.436 a ton in July. Chinese steelmakers are stalled in talks to agree on benchmark contract prices with suppliers Rio Tinto Group, BHP Billiton Ltd. and Vale SA. The mills buy ore from mines in Australia, Brazil and India. Record Imports Iron ore imports hit a record 57 million tons in April, according to general customs. Imports by traders accounted for 44 percent of purchases in the first half, the steel association said last week, compared with 30 percent a year earlier. “In the second half, China may cut its reliance on imports because higher prices may prompt mills to use domestic ore,” said Umetal Research Institute analyst Du Wei. <b> Container volumes handled by major Chinese ports fell 3.8 percent to 10.1 million 20-foot standard containers, the transport ministry also said today. That’s the lowest level of decline this year. “China container traffic, relying mostly on exports to the U.S. and Europe, still needs time for a full recovery,” said Core Pacific-Yamaichi’s Ji. </b> Former Federal Reserve Chairman Alan Greenspan said Aug. 2 that U.S. economic growth may resume at a rate faster than most economists forecast. Total cargo volumes at the ports rose 13 percent to 500 million metric tons in July from a year ago, the ministry also said. </i>
Since I like to back up my analysis with charts, here is the Shanghai Composite. It has global ramifications, not only for commodities, but all markets. A perceived recovery in China, as well as their demand for metals and oil have driven this ongoing global stock market rise. The Chinese stock market is currently in a parabolic upmove. This means an acceleration of upward momentum. This usually signifies panic buying, and is never sustainable. In the long run, I am much more bullish in their foundation compared to the US's, but I am not an economist so disregard my opinions in such matters. I am however a trader, and that I can comment on. The short-medium term outcome of a parabolic move is usually a retracement of 50%, 61.8% or as much as 100% of the upmove. This is based on Fibonacci golden ratio, which I will not get into. A 50% retracement measures to support at it's previous high, ~2400. This is also around where it's 200 MA is currently. I am not sure it will get down to this low, as its 200 MA is on the rise, and I suspect it will eventually bounce off of this moving average. Other ratios in the Fibonacci sequence are 23.6% and 38.2%. I suspect it will bounce at a 38.2% retracement of its upmove if it holds its 200 MA. All of this is likely to occur AFTER its parabolic pattern starts to break down. Recently there has been signs of this in some downward action, however none that are convincing. It would not surprise me if the Shanghai composite had one more spike up in it. Either way, a sizable retracement is imminent. _________________________________ BTW I mean to update the TA thread soon, but have been busy. I believe there is opportunity in GLD that I would like to talk about in detail. I'll get to it as soon as I have time, it is a trade that I am pretty excited about.
fwiw there has been some decent size put buying going on in fxi but the put buyers are not looking for a mega pull back. btw guys i am pretty pumped up now that we have to the ability to scan the options mkt at our office. there is a lot of liquidity that is just missed if you only look at the equity side volume.
Just looked at your profile and we're the same age. I graduated with finance degree from UT Austin a few years ago, but don't work in trading or banking..and didn't learn nearly as much about finance as you seem to know. Did you learn most of your financial analyst skills at school, or on the job?
If you look at a chart of the FXI, it looks nothing like the Shanghai composite. I believe there will be a sizable pull back in the latter due to its parabolic advance, however this is lacking in the FXI. This may be why put buyers are not looking for a big pull back, since even if that occurred in the Chinese stock market, it may not be reflected in the FXI.
Hey guys me and my gf are looking to invest in some stocks..any ideas what to purchase...we are new to this any help would be appreciated..
Buyers of long call or put options are generally regarded as the dumb money in the market. Are you scanning the options market volume using a proprietary in house service?
Damn, my portfolio would probably be a lot prettier right now if I had gone the banking/trading route, rather than consulting...
