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Washington Mutual Bond Holders Wiped Out
The following is a statement from the FDIC’s website, regarding JP Morgan’s (JPM) purchase of Washington Mutual (WM):. “For all depositors and other customers of Washington Mutual Bank, this is simply a combination of two banks,” said ...
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Congress Gets Closer To A Bailout Compromise
According to reports from WSJ, the US Congress and the Bush administration, in an urgent weekend negotiating session that broke early this morning at 3:00 am, have closed in on a new compromise on the controversial $700 billion bailout ...
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The Bailout Plan Benefits Incompetents, But Not Taxpapers
Lots of quotes and analogies being thrown around to describe the current crisis and the proposed bailout plan, I figure it would be remiss of me to “join the crowd” and not offer my take:. In my view the current bailout plan is...
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Update On The Volatility Index, VIX
I want to point out the significance of the VIX (^VIX) at the stage it’s in. THe VIX is actually consolidating in a high-and-tight flag pattern. If you check the past 3-years, you’ll see that the VIX has never done this. This … ...
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Apple Unlocks iPhone In Hong Kong
Apple (AAPL) without any prior announcements has unlocked its iPhone 3G in Hong Kong, permitting people to use it with any mobile phone carrier. On its Hong Kong Web site, the Cupertino-based company is advertising direct sales of … ...
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Weekly Sector ETF Wrap-Up
The Materials Sector (XLB) failed the 50-day MA test on Monday and headed straight down toward support at $35. The $34-35 area is critical at this stage because if the sector cannot hold this level, it has the potential to hit $30 ...
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What’s The Real Reason To Rush The Bailout Package?
One of the questions that has come up in connection with this week’s scramble to pass a $700 billion bailout package for the beleaguered financial sector is: Why the rush? Why not take some time to fully explore the risks, ...
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Technical Outlook Of Nokia
Is this a good time to buy Nokia (NOK)? Nope! There’s no reason to buy when a stock is still in a confirmed downtrend, that’s how people get burned. What’s helpful if traders look at multiple time frames. For example, … ...
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The Bailout Cost: At Least $2 Trillion
The US government and big business are locked in an embrace so tight, it would make even Larry Flint blush. Let’s review the laundry list of wheelings and dealings between Uncle Sam and big business just in the past few months and the ...
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Earnings Preview For Sep 29 - Oct 3
As I write this, we are continuing to await a final decision on the proposed bailout of financial firms. The final outcome will impact market direction. I would expect a short-term relief rally if the proposal is passed and signed. ...
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How The US Great Depression Measures Up Against The Current Crisis
It wasn’t exactly a fireside chat, but the scary language President Bush used undoubtedly reminded people of a time when the only thing we had to fear was fear itself. “Without immediate action by Congress,” Bush warned...
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PetroBank Could Revolutionize Oil Sands
I own shares of PetroBank (PBEGF.PK) for two reasons. First the company has been doing a credible job of buying and exploiting conventional oil and gas resources. In Q2 it reported diluted EPS of $1.92 ($C) vs. ...
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Week Ahead In US Financial Markets (September 29 - October 3 2008)
The week of September 29-October 3 will see very important data that will provide information on the condition of the consumer and the labor sector. The major data risk for the week will occur with the Monday release of the...
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Counter-party Risk: The Hidden Risk In Exchange Traded Notes (ETNs)
Anyone that invests in the market has to really feel like the advent of the short/long equity and commodity funds (gold, silver etc.) has been a good thing. It has created a new market and opportunities for those willing to...
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Live Trading Room Daily Recap - September 26, 2008
Hi there fellow traders! Herewith is my daily video recap for September 26, 2008, in which I discuss what happened on the market today, in our Live Forex Trading Room. http://www.youtube.com/watch?v=hLL_9XvPxfc ...
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