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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
- Credit stays frozen. As frozen credit markets refuse to thaw, the cost of default protection on corporate bonds reaches new global records amid investor concerns the credit crisis will trigger corporate failures as companies struggle to finance their businesses. Interbank lending remains limited, and borrowing from the Fed's expanded discount window continued its trend of setting new highs every week, as the total daily average rose to $420.2B vs. $367.8B last week.
- Oil demand withers. The International Energy Agency warned Friday worldwide oil demand...
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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
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Oil Price- Oil Below $75: Increased Chance of OPEC Production Cuts by Money Morning
- Oil Down 48% from Highs by Bespoke Investment Group
- Oil & Gas Headed Lower as Economy Strikes Consumers by Michael Filloon
Economy- Long Term, Financials Look Good by Michael Filloon
- Round 3 of the Recession: Main Street by Paul Fekula
- Reality Bites As Stocks Continue To Collapse by The Mole
- Investing Ideas -SampleSeeking Alpha - Investing IdeasCramer's Picks
- Farewell Financial Bear Raids - Cramer's Mad Money (10/14/08) by SA Editor Joan Wickham
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Long Ideas- Utilities Beginning to Generate Interest for Longs by Joe Kunkle
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Short Ideas- Why Short Sellers Are the Heroes of Wall Street by Investment U
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- Jim Cramer's Picks -SampleBetter Choices - Cramer's Lightning Round (10/15/08)by SA Editor Rachael GranbyStocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
Northrop Grumman (NOC) -- You can't own the defense stocks right now. If I had to own one, I'd look at Lockheed Martin (LMT) with its good dividend. - Stocks & Sectors -SampleSeeking Alpha - Stocks & SectorsInternet
- eBay: Q3 Looks Good but Q4 Guidance Disappoints by Greg Feirman
- Is Google Feeling Lucky? by Sam Gustin
- Why Today Could Suck for Tech by Kevin Maney
Media- A Triple Financial Whammy Afflicts Newspapers by Ken Doctor
- Three Years On, Buying MySpace Looks Like One of Murdoch's Smartest Bets by Erick Schonfeld
- How Will Arbitron Fare in This Market? by Sreeni Meka
Telecom- Ten Ways to Invest in Louisiana by Stockerblog
- Earnings Preview: Electro-Optical Engineering by theflyonthewall.com
- Shared Docks Via WiFi All the Rage by Dean Bubley
Financial- Switzerland Strengthens Its Banks; Short Interest Remains Low by Jessica Johnson
- Reality Bites As Stocks Continue To Collapse by The Mole
- LIBOR Shows Worst Is Yet to Come for Credit Markets by Keith Fitz-Gerald
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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- USANA Health Sciences Inc. Q3 2008 Earnings Call Transcript
- Perfect World Announces Share Repurchase Program by Trader Mark
- China: Hot Money Inflows Down, Nervousness Up by Michael Pettis
India- Indian Economy Has Much to Cheer About by Equitymaster
- India: RBI Cuts Cash Reserve Ratio by Equitymaster
- India: Markets Continue Downward by Equitymaster
Japan- Sanyo Enters Thin-Film Market, Goes Up Against Sharp by Greentech Media
Asia- Four International Dividend Stocks to Watch by David Hunkar
Eastern Europe- Reality Bites As Stocks Continue To Collapse by The Mole
- Alternative Energy Investing -SampleSeeking Alpha - Alternative EnergyAlternative Energy
- Seven Stocks for an Impending Apocalypse by H.J. Huneycutt
- Solar Shares Under Pressure From Credit Crunch and Pricing by Eric Savitz
- Trina Solar Looks Good, Though Market Yawns by Trader Mark
- The Electric Car Market: Wise Energy Use Stocks by Tom Konrad
- Investing in the Power of the Sea
- ETF Daily -SampleSeeking Alpha - ETF DailySector ETFs
- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Utilities Beginning to Generate Interest for Longs by Joe Kunkle
- Two Global Infrastructure Investment Opportunities in ETFs by Investment U
New ETFs- First Trust Launches Infrastructure ETF with Global Reach by Index Universe
- Overview and Analysis of the Global Generic Drug Industry by Mike Havrilla
Emerging Market ETFs- Brazil Is the Best of BRIC by Carl T. Delfeld
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- The Daily Dispatch -SampleSeeking Alpha - Daily DispatchWall Street Breakfast
- Wall Street Breakfast: Must-Know News by SA Editor Rachael Granby
US Market- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- Wall Street Breakfast: Must-Know News by SA Editor Rachael Granby
Housing & Real Estate- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Another 'Root Cause' That Isn't: Tumbling Home Prices by Tim Iacono
Transcripts- TrueBlue, Inc. Q3 2008 Earnings Call Transcript
- Polycom, Inc. Q3 2008 Earnings Call Transcript
ETF- Too Early To Buy Homebuilders ETF by Larry MacDonald
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The Gold to Oil Ratio Does Matter
James Grant Wants to Know: Who Will Buy Our Greenbacks?
Totally concur. Well said.
The Fear Bubble: Treasuries and Gold
ScotiaMocatta: Gold Trends to Snowball
I have followed precious metals for a long time...and this is definitely interesting.
With Tbills going negative yield the only logical next step to park capital will be gold. If that happens on the scale that capital flowed into Tbills...all I can say is wow.
Dow Will Equal Gold in 2009
History shows these runs take longer than a year, but we are in a unique time for sure.
Also...too much exuberance for a rally? Isnt that when rallies occur?
Lastly...the dollar as a safe haven? I literally laughed when I read that.
I have an idea. Anyone who wants to bet me the dollar is a safe haven:
1. Email me so we can exchange info, and the amount you wish to bet (you can get my email from my blog)
2....put your money in dollars...I will put mine in gold and silver.
3. Lets compare notes in three years.
Gold Price and the Money Supply
Gold is simply a way to store wealth that isnt diminishing in buying power over time.
Compare it to dollars, that are inflating at a rate of almost 18% a year, thus losing value at a rate of 18% a year.
Gold isnt being inflated.
2000 years ago an ounce of gold would fully clothe a man in the finest robe, sandals, hand crafted belt etc.
Today that same ounce of gold will clothe a man in similarly fine attire.
It holds buying power (and no I am not talking about shot 20 year cycles...thats what people focus on because in an inflationary economy ROI sucks up all of the common mans attention).
Thats its value.
The End of the Gold Carry Trade
Great point. In reality any government is truly just a representation of the citizens of that country's wealth and ability to pay taxes. That is, after all, where a governments money comes from.
So really, people are buying US Citizens credibility to pay. Only problem there is US Citizens for the most part are in debt to the hilt, losing their jobs, and some are more concerned about putting the food on the table than buying Christmas gifts.
Gold on the other hand, requires no government to back up its value. It has had value for over 5000 years of human history. Not going to change tomorrow.
www.rapidtrends.com/bl.../
Is the Price of Gold Being Supressed?
Economic engineering once again to be proven smoke and mirrors.
Cant print your way to wealth:
www.rapidtrends.com/bl.../
$3.5B Saudi Gold Deal Is Huge Compared with $6.5B Consumer Record
Read between the lines. News..and rumors alike...are often started with motives.
Cui Bono.
Finding the Lowest Premium for Physical Silver
Going to force more contracts on Comex into physical delivery to take advantage of what investors are willing to pay.
Silver inventory in the Nymex warehouses has been dropping consistently:
www.nymex.com/warehous...
For those who dont believe it, use the above link and track it for a while and see for yourself.
Gold Market Confusion: Record Physical Demand Collides with Paper Destruction
www.rapidtrends.com/bl.../
Surprising Call for Return to the Gold Standard
Den of vipers, anyone?
“If the American people ever allow private banks to control issue of their currency, first by inflation, then by deflation, the banks and the corporations that will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
—Thomas Jefferson
Can a Dubai Silver ETF Send Global Spot Prices Higher?
A very small portion of this massive stockpile of wealth, not to mention the Sovereign wealth funds, if it finds its way into the silver market via this ETF could have a massive impact.
The gold ETF GLD has drawn a huge amount of physical gold out of the trading market, and holds more than the national reserves of China.
A similar drawdown on global silver stocks because the Arabs choose to invest in this ETF versus not trusting one out of the US for example, could be huge.
I am looking forward to what happens with this.
All the Gold in Saudi Arabia
A great article pointing out the 3 banks shorting gold with over 50% of the market:
www.resourceinvestor.c...
Saudis Made Right Decision in Refusing IMF Request, Investing in Gold
Recent articles show China and Iran doing exactly this.
I dont believe it will be too much longer before western nations are forced to follow suit.