Market internals were very strong with better than 3 to 1 lead of advancers on NYSE & 2 to 1 on NASDAQ...
Again more new 52 week highs today......
CNBC pundits have stopped shouting "sell,sell,sell" & have quit "bragging about their short position" or PROTECTION talk.....it means ....they have "thrown the towel finally after taking their LUMPS"
Market behaving very stable...despite horrific economic data & beige book from Fed.....
Before open ADP job prediction will come out & it will be BAD.....but market as usual will IGNORE it and move to its own rhythm......
Dow has regained its 9000+ platform nicely!!!!
Dry shippers are on a tear...clear sign that China is coming back & world economy is on the verge of turning UP....this sector & mining stocks are the best play for China turnaround..imho
Solar stocks bravely fought closing red whole day....good sign that Revenue & EPS slide has been discounted...
AA is cutting back staff & production which should help in controlling prices & inventory.....
Canadian $ is moving UP against US$ daily and has crossed resistance...good for my financial health $$$$$
BLOG does NOT give buy or sell.
Saleem
6 comments:
Saleem,
I love your blog...keep up he awesome work...Ya gotta start to love the Stem Cell play here...GERN,ACTC,STEM and ASTM when Obama steps in 2 weeks...I personally own GERN,CMED,ACTC and AKAM..
Best Regards,
Zak
HELLO to all
Tanker news: Bloomberg also had this on the news this AM:
Oil Traders Seek Another 10 Supertankers for Storage
http://www.bloomberg.com/apps/news?pid=2...
By Alaric Nightingale
Jan. 7 (Bloomberg) -- Oil traders are seeking as many as 10 supertankers to store crude, potentially taking the amount hoarded at sea to almost five days of European Union demand, according to Frontline Ltd., the largest owner of the vessels.
About 25 of the carriers, each able to hold about 2 million barrels of crude, were already hired for storage. There are enquiries for 5 to 10 more, Jens Martin Jensen, Singapore-based interim chief executive officer of the company’s management unit, said by phone today.
Thirty-five supertankers represent about 7 percent of the global fleet of very large crude carriers, according to data from London-based Drewry Shipping Consultants Ltd. Storing oil in tankers may boost rental rates that fell by a record 78 percent last year as slower economic growth sapped demand for energy.
Traders are seeking to lease ships for three to nine months, Jensen said. Crude oil for December delivery traded at $61.71 a barrel as of 7:35 a.m. in London, about $14 more than the February contract. Oil companies and traders may be able to profit from storing the oil, assuming shipping, insurance and financing costs are covered.
Iran, the second-largest member of the Organization of Petroleum Exporting Countries, idled as many as 15 of its biggest ships in May to store crude. That contributed to three consecutive months of higher rental rates for ships.
EU oil consumption averaged 14.8 million barrels a day in 2007, according to data from BP Plc.
To contact the reporter on this story: Alaric Nightingale in London at Anightingal1@bloomberg.net
Last Updated: January 7, 2009 03:27 EST
Hi Zak,
Welcome to my BLOG.Thanks for your appreciative comment.
Yes...Stem Cell policy wil be reversed by Obama...I have to do my homework in this area..Thanks for pointing out few stocks.
Saleem
Hi Madmax,
Thanks for the news on tankers..looking good$$$
Saleem
My favorite pick for @))( Monsanto:
Look at this earning report:
Monsanto Co.'s (MON) fiscal first-quarter net income more than doubled as the agribusiness giant saw improved margins and record sales, driven by greater demand in Latin America.
As such, the company raised its outlook for the year, which along with earnings smashing expectations, helped push shares up 8.84% premarket to $79.69.
Monsanto now sees fiscal-year earnings of $4.40 to $4.50 a share; the company in October forecast $4.20 to $4.40. That view was below analysts' then-expectations, which haven't changed since then as many believed the initial forecast was too conservative.
With the most significant part of its business cycle still to come, the first-quarter results signaled a good start to the year, though it primarily reflects the impact of its Latin American businesses. The company said its second and third quarters are expected to be the primary drivers for full-year results since they reflect the relative size of its U.S. business and the importance of its seeds-and-traits business.
For the period ended Nov. 30, Monsanto posted net income of $556 million, or $1 a share, compared with $256 million, or 46 cents a share, a year earlier.
Revenue jumped 29% to $2.65 billion, fueled by strong demand in Brazil for Roundup and other herbicides.
Analysts polled by Thomson Reuters expected earnings of 59 cents a share with revenue of $2.44 billion.
Revenue was also helped by higher corn seed and trait sales in the U.S. and Brazil and higher U.S. soybean seed sales growth due to strong early-season deliveries.
Gross margin climbed to 58.5% from 50.7%.
Chief Executive Hugh Grant said the Latin American business "set the pace for a great fiscal 2009, giving us confidence to raise our earnings projections."
Sales in the seeds and genomics segment - which includes the company's global seeds and traits business, and genetic-technology platforms - increased 31% to $1.1 billion on similar gains for corn and soybeans.
Revenue from Monsanto's agricultural-productivity products - including the company's Roundup lawn and garden herbicide as well as crop-protection, herbicide and animal-agriculture products - jumped 28% to $1.55 billion.
Whoza up 12% so far
Hi Madmax,
MON had blowout ER & guiding UP...only AG to do so$$$
Stock UP $10 !!!!
Saleem
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