Thursday, September 16, 2010

9/17/10 If It Makes You Happy



This market is destined to hit 1150 within a day or (in deference to Opex) two. A few peaks and valleys later, it likely challenges the April summit of 1219. Sooner rather than later, given the strong tailwind of negative sentiment.

Of course, if it makes you happy, go ahead and short-

If it makes you happy
It can't be that bad
If it makes you happy
Then why the hell are you so sad

114 comments:

  1. Re: SPX 1150 by EOD Friday/ Manifest Destiny newSubmitted by 2nd_ave (4578 comments) on Thu, 09/16/2010 - 19:09 #69385 (in reply to #69348)
    This market is destined to hit 1150 within a day or (in deference to Opex) two. A few peaks and valleys later, it likely challenges the April summit of 1219. Sooner rather than later, given the strong tailwind of negative sentiment.

    Of course, if it makes you happy- go ahead and short.

    http://www.youtube.com/watch?v=jUJtw0gCd70

    If it makes you happy
    It can't be that bad
    If it makes you happy
    Then why the hell are you so sad

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  2. I LOVE this song!

    I have to admit I re-bought the 10.88 price in Yamana about 5 minutes into the close and left the building.

    I am not sure this was a good idea but I didn't want to not be in a gold stock ovenite.

    gold's breaking out:)

    I bought a few coins and one of those silver boxes awhile ago........Feeling good about that also.

    Member when I was talking about EXK? I was on vaca and wasn't watching close enuff nor was I feeling agressive on my vaca.



    Kyle what resulted from your GRS long? Are you still in?

    VB........Whatchou been doing ? Still in REDF? I hope:)


    Anyone buying C? it's at a good place vis a vis the 50 and 20 day's.........

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  3. actually c is croosing a lot of ma's now isn't it?

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  4. Getting started: In the case of TD Ameritrade, are there any parasitic fees I should be aware of?

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  5. No fees that I've been hit with. I believe all the rates are published. You should be able to get a number of free trades for opening the account and assuming you have a decent sized account, trades are under $10 for any qty of shares, and they do options as well. For futures I think you need to do those trades on Thinkorswim.

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  6. hey sharkee,

    Closed out my redf this AM but I still made out :) rinse and repeat

    go nxg

    ps - sick with a cold (bummer) nyquil again

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  7. Okay, well I've opened an account and I like what I see so far. The user interface is somewhat similar to BAC's previous UI aside from some new features and whatnot.

    I'm gonna play with this for a few days, I like what I see so far.

    Thanks!

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  8. VB:)

    come out east and we'll paint the town red!

    OF course I have to re-buy PAL...it's just a question of when.

    And guys...I think Yamana could go a LOT higher.

    I also want to buy RBY and EXK< do you guys remember me talking up EXK?

    I just don't want to be pay up....but I think the breakout in silver is real. And it will lead gold higher. And Yamana is like alost a no-brainer long trade now at this price.

    VB>>>>>buy auy if gold^^^^^^^^:):):)

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  9. UNG - This should help natty prices, the beginning of the end for the fracking wild-wild-west?

    Report: Fracking chemicals in NE Pa. water wells
    "DIMOCK, Pa. (AP) -- A private consulting firm says it found toxic chemicals in the drinking water of a Pennsylvania community already dealing with methane contamination from natural gas drilling.

    Environmental engineer Daniel Farnham said Thursday that his tests, which were verified by three laboratories, found industrial solvents such as toluene and ethylbenzene in "virtually every sample" taken from water wells in Dimock Township, Susquehanna County."

    Boy it sounds like an environmental nightmare unfolding in the gulf, I gotta go check out how BP's doing...

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  10. Crazy day....OK, updated positions. My computer did buy a 2/3 position in SSO while I was gone. I placed a bid right at the bottom of the largest bar and it filled.

    SSO @ 38.32
    SWN @ 31.87
    XCO @ 13.35
    HEK @ 3.82

    IRA

    SSO @ 38.20

    CADC didn't fill.

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  11. ES imbalance @ the close...

    $75,773,548 x $34,779,389

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  12. We HAVE to get oil to go along.

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  13. Market Cycle Near Term Peak?
    Submitted by 4ever (86 comments) on Thu, 09/16/2010 - 22:17 #69397
    Whenever prices gain some, I remember the wisdom of this quote:

    "But like the great Kodiak grizzly bears waiting along side the Alaskan streams for spawning Salmon, so too the big US Banks like Goldman Sachs are waiting for the unsuspecting traders seeking to mate with profits!"
    -Kaimu, Bill Cara Blog 9/25/09

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  14. Re: Market Cycle Near Term Peak?/ Or Longer Term Valley? newSubmitted by 2nd_ave (4579 comments) on Thu, 09/16/2010 - 23:16 #69400 (in reply to #69397)
    Is it possible that the reverse scenario is in play? The banks, having successfully shaken out unsuspecting ex-owners of shares in the financial/energy/semiconductor sectors, have accumulated positions at the expense of traders seeking the safety of cash.

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  15. So, really, couldn't someone have seen this coming...

    My 1st. grader went on a field trip today to visit a bee hive one of the parents have. While watching the parent "work" the hive one of the kids got stung. He started to scream, and of course, the whole group of kids started to scream....Then the bee's came out... All kids got stung multiple times, bee's in their hair, up their shirts etc.

    My point is this. I'm the principle who has to clear such trips. I weight the positives and potential negatives. I'd have to call no joy on the bee hive adventure.

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  16. I've been told that most of the movement in oil over the last few days is due to the Enbridge pipeline leak in Illinois. Now it's looking like flow may resume as early as tomorrow and that's where the drop came from over the last couple of days. At least that's part of the reason.

    How about natty? That was a HUGH number and prices dropped from $4.015 to $3.91 right after the report then drifted a little lower before turning up. According to my chart the low print for Oct was $3.852 and I really thought we would see something in the low 3.70's. Cash prices are still strong and we're thinking its storage players putting as much gas in storage that they can at these price levels.

    The next big driver for natty in the short term, assuming no hurricane or threat of hurricane, will be the winter forecast so keep an eye out for that.

    I had sell orders in at $6.95 today for my UNG and they never got hit. I'll probably reenter this order first thing in the morning and we'll see how things go.

    Following is a comment include in one of my bank emails
    "Meteorologist Steve Gregory says that four out of five hurricanes so far this season have been major storms - "..and that's one very rare ratio." He adds that the only chance he sees for a storm in the producing region is towards the end of the month. "And once we get beyond Oct. 7 or so - there is virtually no chance at all. There hasn't been a major hurricane in the producing region after Oct 5 in at least the last 60 years..."

    I don't know who this guys is but if he's right then we only have 3 more weeks of hurrican watch.

    Good trading tomorrow.

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  17. port- Thanks. I had a really long and interesting conversation with MOG today. I had a long day, and when ever I paraphrase him I want to be accurate, but I'll let my entries in XCO and SWN stand in for the moment.

    CP- We must have talked about frac water for 2 hours. He's not worried about it. More to follow.

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  18. Every night before I go to bed, I scan news on stocks we all follow...No charge. This one stood out for RBY...




    VANCOUVER, Sept. 16 /PRNewswire-FirstCall/ - Rubicon Minerals Corporation ("Rubicon" or the "Company") (TSX: RMX and NYSE Amex: RBY) announced today that it has filed a preliminary short form prospectus in all the provinces of Canada except Quebec in connection with an overnight-marketed secondary offering (the "Offering") by Evanachan Limited and McEwen Trading LP (the "Selling Shareholders"), entities owned or controlled by Robert R. McEwen, of 45,714,357 common shares of Rubicon owned by the Selling Shareholders.

    The Offering will be priced in the context of the market with the final terms of the offering to be determined at the time of pricing. It is intended that upon completion of the offering, the Selling Shareholders will own no common shares of the Company. Rubicon will not receive any proceeds from this Offering. Closing of the Offering is expected to occur on or about October 5, 2010 and is subject to certain conditions, including the approval of the Canadian securities regulatory authorities.

    Mr. McEwen has expressed his continued confidence with the Company but advised the Company that it has grown to represent a disproportionate share of his portfolio for an investment where he is not actively involved in management, and he noted that this step is designed to focus his interests on the companies he runs, U.S. Gold Corporation and Minera Andes.

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  19. no joy on the bee hive adventure...

    Hopefully none of the kids that got stung are allergic. My eldest is incredibly shy so I took her to an introductory karate class today. She's 8. I thought I was going to have to drag her through the door. There were tears at first but she survived and thought maybe she could take some lessons. Mom and Dad aren't giving her much choice though.

    After reading my post I saw I didn't state my take on natty. I'm bullish natty over the short term but I just don't want to hold any positions over the weekend.

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  20. port- Cool, we have kids the same age. Hailey, the first grader, is scared of spiders. She actually did ok with the bees.

    I'm all for anything that gets our kids out and exercising that build their self confidence.

    For the record, my two girls are 9/6 and the little terror (boy) is 3.

    All are for rent and discounted prices :)

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  21. FWIW...Kass has been pressing his shorts the past three days. Me thinks this will break one way or the other soon. You know where my chips are.

    GL....

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  22. David - I'm embarrassed to say how much of my port is in REDF...let's just say it's waaaaaaay too much.

    And Shark - I'm long C at around $3.97 from a few days ago, along with a small position in $4 October calls. I love the price right now.

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  23. shark - Got back in GRS a couple days ago along with EGO. Should have gone w/ CDE. FRG pullback looks interesting...

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  24. Raging Bull newSubmitted by 2nd_ave (4580 comments) on Fri, 09/17/2010 - 08:21 #69412
    No one believes in a bull market until it's well underway. Continued skepticism will fuel the move, IMO.

    I consider the relatively muted premarket bids/asks to be a gift, and now fully (re)loaded in the trading half: BAC/WFC/XLF, CSCO/INTC/SMH, XLE. (80% checked in last night, with carry-on luggage in the semiconductor sector [which appeared overpriced last night] added this morning.) The buy-and-hold remains in OAKBX.

    As usual, the possibility of being completely wrong is part of the game- but I have to play the market as I see it.

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  25. Silver and gold, silver and gold
    Ev'ryone wishes for silver and gold
    How do you measure its worth?
    Just by the pleasure it gives here on earth.

    Silver and gold, silver and gold
    Mean so much more when I see
    Silver and gold decorations
    On ev'ry Christmas tree.

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  26. I will probably regret this but I just sold the Yamana shares I bought yesterday afternoon at 10.88 at/above 11 just now.

    I want to re-load on a scary scary drop baby:)

    Or go play golf. One of the 2:)

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  27. reason why...spot silver going neg. I realize I'm insane but it's life that made me this way:)

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  28. shark, I just bought 1,000 shares of auy pre market!!!!!

    sigh....

    (just kidding)

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  29. Let's see if CADC finally let's me in. Bidding @ 3.25.

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  30. CS coming up. I'm betting it's positive. I think it is a lagging indicator and follows the market.

    SPY had better regroup here and make another run at
    1130.

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  31. Sold my BGU at $51 and STT at $38.8. Now only 100% long.

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  32. Sold C at $4 looking to re-enter a little lower.

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  33. I will PROBABLY regret this but I did re-buy auy at 10.88 again

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  34. with a stop set...I am already regretting this:)

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  35. I fucked up. Fortunately with small size.

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  36. another thing about stops....wherever you set 'em they mark the end of the downmove. Ever notice that?

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  37. i get the feeling that a BULL trap may be set today...we could rally to close above 1,130 to give bulls more hope then only to gap lower on Monday.

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  38. Instead of selling metals,I added dzz as a hedge in case things turn.

    so team, you held redf without any tums?? Unreal. mark you still holding?

    vb

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  39. VB- No, I got out last Friday I think @ 3.15ish I think.

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  40. vb - yeah held and still holding. there's way too much pent up demand for india stocks right now. i wouldn't be surprised to see $5 soon. it's just a feeling i have so it could change if i start seeing the Sensex dropping or MMYT and other india stocks losing steam but i think India is going to be on people's radars for a while.

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  41. and, vb, the big reason i bought was because of the broadband spectrum auction that india had back in June. India has only 10 million broadband users (vs population of 1.2 Billion). this will result in exponential growth of the internet user population in india for years...its a long term growth trend.

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  42. redf is not the leader but it's one of the big internet portals over there so overall market growth will result in growth of the big players, of which redf is one. their market cap is around $90 million. if a company with the amount of traffic they get and the growth potential they have were in the us markets, it would probably be worth $1 Billion.

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  43. Re: Raging Bull newSubmitted by 2nd_ave (4581 comments) on Fri, 09/17/2010 - 10:27 #69439 (in reply to #69435)
    pauldkk-

    (a) Most retail investors either never left buy-and-hold mode, or are sitting in cash waiting for a green light. That's JMO, and based on conversations with colleagues and friends. So I think the only sellers here would be 'professional traders-' and I think most of them capitulated in August.

    (b) Why would fund managers not be accumulating shares in the beaten down financial/semiconductor/energy sectors here? That's what they do, no?

    (c) The 'rally' off the 1040 low- from a longer-term perspective, it's only just begun. Look ahead to Q1 2011, and we could have far higher prices than we see now.

    (d) A bull run is evident only in retrospect. The only way to 'recognize' one in the beginning stages is intuition. Again, JMO.

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  44. HEK off at 3.79. I'll keep watching, to much supply on the sell side.

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  45. team,

    yes, i agree with all your points. It is at the tip of the iceberg in terms of potential growth. i will get back in prob monday or on the next down swing.

    vb

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  46. vb- If Mark were to be honest, I undoubtedly contributed to his decision to bail on REDF at 3.15...that was the day I leaned on him to consider a total exit strategy. That's how it looked on the playing field that day.

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  47. Adding to SWN @ 30.87...Good thing I'm happy holding this sucker into winter :)

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  48. tof also made a conscious decision to stick with REDF through the sell-off.

    Different calls, different plays. We all just carry on after each play.

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  49. We've all been fed up with long-term trading, no? Now that we've all thrown in the towel and moved to day trading, I think the time has come to return to LT trading.

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  50. 2nd,

    you were just watching out for your bud. that is a good thing

    my goal is to set up an exit strategy like david and stick to it. Had I sold 1/3 instead of all the redf, I would have made out alot better. ..

    vb

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  51. Re: Raging Bull newSubmitted by 2nd_ave (4582 comments) on Fri, 09/17/2010 - 10:43 #69443 (in reply to #69439)
    pauldkk- Another perspective: Traders are frustrated. Everyone on this blog can attest to that. Now that we've all thrown in the towel on LT trading strategies- that may be the signal to return to what worked in the past- ie, longer-term buy-and-hold? That's a question, not a statement...

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  52. "We've all been fed up with long-term trading, no? Now that we've all thrown in the towel and moved to day trading, I think the time has come to return to LT trading. "

    2nd - i kinda agree with this. in fact, it's the reason i turned bullish a couple of weeks ago. i figured that too many people are caught up in trading that they are going to miss the opportunity to buy and hold. my call on a BULL trap is a trading thing. i think if we close above 1,130 it sets up a real distinct opportunity for a ST bull trap.

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  53. SWN- Not sure why it is under preforming it's peers so badly today, but I like the co. and so does MOG, so I'm happy to add shares at this level.

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  54. Back in the green on the DJIA...

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  55. tof- Maybe. 1150 is what I see as 'capitulation' range. TK would have to turn bullish at that point.

    The other consideration is the 'gap-up' scenario. Trying to game a bull run can be dangerous- exit on strength, wait for weakness, only to be faced with enormous gaps-up when trying to reboard?

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  56. Re: Raging Bull/ The 'Gap Up' Conundrum newSubmitted by 2nd_ave (4583 comments) on Fri, 09/17/2010 - 10:51 #69447 (in reply to #69443)
    Let's consider for a moment that August was the beginning of a new bull run. Trying to game the peaks and valleys could be a losing game- exit on strength, wait for dips, only to be faced with multiple overnight gaps up? A real bull is unlikely to allow traders to easily reboard- it requires them to chase.

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  57. If you want a seat on the northbound, you can buy tickets now while no one's looking, or you can pay up later.

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  58. Then again, in a few days I could just be talking to myself.

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  59. "another thing about stops....wherever you set 'em they mark the end of the downmove."

    Only after your stop is hit the price reverses to the upside. This is the same phenomenon as lower prices once you've gone long and selling the bottom.

    So now there's a bus full of 8yr-olds with newly discovered respect for bees. I hope the teacher/principal aren't chastised for taking the kids on a field trip. Kinda odd though, I don't ever recall ever hearing of a field trip to visit bees, wonder why?

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  60. 2nd - it's a mental thing, investing. i'm one of the lucky ones that happened to board the northbound early, so i can sit out any potential headfakes south, which will inevitably come. so my luck allows me to stay long when i may be weaker mentally than others. its those people that board the northbound train after waiting so long and seeing the market up 7%, only to watch it go south immediately, that require significant mental strength to stay on board and not get off on the red stops but rather stick it out for blacker pastures. i'm afraid i don't have that mental toughness. that would only come with significant stubborn conviction.

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  61. AONE & COCO continue to advance

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  62. SWN- And I'm SURE I'm talking to myself here, but I'd rater buy at a 52 week low than a 52 week high. BTW, all those green bars you see right now are because they talked about it on CNBC.

    GL...I am pissed I got shaken out of AONE though, even for a nice profit.

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  63. Kyle- Everyone is banned from mentioning AONE but me :)

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  64. 2nd - Am trying to practice more of Vad's 'opinion-less' trading; however, having said that, many mutual & hedge funds are down to flat this year. Believe most damage will be inflicted by maintaining low volume, narrow range to deny both longs/shorts much advantage into EOY.

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  65. You might say the market just isn't going to tip her hand, ever.

    The window to take preemptive action on behalf of the economy has been closed for a few months now, a casualty of the WDC's inability to assume a proactive approach to problem solving.

    Uemployment will remain high and voter dissatisfaction will grow going into the next presidential election.

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  66. guys - check this link out...its a pretty sweet tool to have handy:

    http://stockcharts.com/def/servlet/SC.scan

    i came across it because i'm trying to find examples of runaway gaps like REDF to see if i can learn out how to best time when to sell...

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  67. eBay is looking like it's basing for another move up. Here's a great article I came across:

    http://www.moneycontrol.com/news/business/e-commerce-to-be-361bn-bizindia-by-2013-ebay_481493.html

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  68. REDF - That's sick! I hope it goes past $10...

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  69. team,
    thanks for that tool.

    PS are you buying dinner?

    mark, I have a little aone. thanks for that one.
    vb

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  70. Mark, are you not concerned about SWN's expiring gas hedges in 2010? It was hedged for the past couple of years, and so maybe this is the reason it is at a 52-week low? What did you MOG said about NG going forward -- is he in agreement with DB about $4.50 being the expected NG price for 2011? The mid-2011 futures were much higher than now for the past couple of years, which is another reason as to why SWN is heading down. What do you think?

    Also, why do you think oil is going down recently?

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  71. I just noticed that UXG hit my sell limit at $5.50 for 500 shares. My last sell limit is at $6 for my last 500 shares, and I'll be completely out of UXG. It was a WILD ride: started at $6, added on the way down to $0.5 (selling on every jump and then reloading) and then scaling out gradually up to $5.5 (and most likely $6 soon).

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  72. Here is a blurb I found about SWN on the web:

    In its second quarter earnings conference call, Fayetteville Shale leader Southwestern Energy said it realized an average gas price of $4.27 per Mcf in second quarter of 2010, down 15% from the prior year period.

    Without strong hedging positions that lifted the company's average realized gas price by approximately $0.58 per Mcf, Southwestern's second quarter earnings would have not have met expectations.

    "We currently have approximately 87 (billion cubit feet) Bcf of our remaining 2010 projected natural gas production hedged through fixed price swaps or collars at a weighted average floor price of $6.26 per Mcf," the company said. "This represents a little over 40% of our expected production in the third and fourth quarters."

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  73. CADC - Allright, I've got a stink bid in here just above the 52wk low (can't place an AON with stupid ML bastards).

    Right now they're walking it down the upper side of the trendline going back to January, me thinks it's pretty obvious it's either going up soon or retesting the low in capitulation.

    I still anticipate a fat earnings report but sometimes I'm wrong. Okay, maybe I'm wrong more often than not...

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  74. David- I just sent you a E&P report for the industry MOG sent me this morning. How'd you like that spike down in oil just now :)

    Port- If you send me an e-mail through CC, I'll forward it to you also.

    Nice turn around in $TRAN.

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  75. anybody buying PAL?

    Biggar is presenting today, must be saying something soothing.

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  76. Man, I can't wait for this weekend. 5 qualifying games, expensive drinks and appetizers on David....Doesn't get better than that :)

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  77. David sent me an email guessing they might drive HEK back to 3.50ish....So far he's right!! I'm waiting in the wings :)

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  78. in addition, PAL seems to be clearing some overhead resistance from back in 07...what's that called? anyone know?

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  79. I feel like I should be buying PAL especially because I do not want to:)

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  80. OXGN - Any bio-tech guru's following this one?

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  81. PAL - Why is it when I give up on something it immediately flies?

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  82. CP- It's b/c at that point everyone else has given up on it as well- and there's no one left to sell.

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  83. Mark, my projection for $3.50 on HEK is a simple naked-eye extrapolation of the line connecting its recent lows. Since those lines are never completely straight, I would say at $3.70 now the chances of a rebound, at least until the upper trend line at $4, are already pretty decent.

    What do you think is causing this recent slide in HEK? Has anything changed in their long-term prospects?

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  84. CP- Your stinky on CADC had to have hit!!!

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  85. David- Nothings changed @ HEK. I'm sure it's all got to do with the EPA making a fuss over frac water. MOG is pleased with who is running the show and doing most of the research...Think of a big school in Texas he is a chair of :). He had some really funny stuff to say that I can't repeat, but he is NOT worried about it at all. Regulation will stay at the local level, trust me...or MOG I suppose.

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  86. Played TZA twice, both profitable, for a total of $480 net. Missed the panic/excitement, though, while I was fixing/eating lunch.

    Saw UCO dropping earlier, but didn't see the bottom till too late to play it.

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  87. Bidding HEK @ 3.67. There is a little support here on the VWAP. If it doesn't hold....it's 3.53 then 3.31.

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  88. All right, I just sold 5 December $28 puts on SWN for $1.01 -- judging from the 2-year chart, buying SWN at $27 would be a real bargain (or pocketing $500 by December, which is also not bad).

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  89. Pulled HEK bid..Every time it ticks up a penny, the ask comes back strong.

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  90. The one thing to keep in mind about HEK, other than it keeps going down :) The warrants expire next Nov. with exercise prices that average about 7.00. Once those 40M warrants are clearly off the table, I want to be in.

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  91. TLT bounced nicely of the PP. This might get difficult into the close.

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  92. PAL...Holly cow, it got right up to it's offering price. Wonder if that might put a lid on it?

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  93. Just sold at $4.70 the 500 shares of SD I purchased at $4.20, so as to book a $250 profit and have some cash to pay for Mark's expensive appetizers and drinks on Saturday. :) Or to fund my SWN puts, if they are assigned to me in December at $28...

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  94. Thanks David! That might cover it :)

    CLNE- Simply a technical trade today?

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  95. probably dumb but rather than sell REDF i bought even more at $3.84.

    I also bought more C October $4 calls at $.11.

    I'm closing my longs in the SPY and MDY index and moving those to cash at the close so as to offset the additional risk I took on with my above buys.

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  96. tof- We can say anything we want, but in the end it comes down to what we actually bought and sold. I'm sure your decision to add to REDF was far from 'dumb-' it was the result of your collective experience in trading. Best of luck- those are the kinds of calls to make when you're young, and they can certainly pay off big.

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  97. TOF's decision to add more REDF at $3.84 has already paid off big, as REDF closed at $4.09. All the bets we are making now are peanuts in comparison to the bet TOF has made on REDF, which has probably doubled his portfolio in 2010 already... Way to go!!!

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  98. David - I haven't sold yet so all of these gains are merely unrealized ones. Today's volume gives me some pause but I have to think that India related stocks are going to continue higher. There's a lot of demand for them from US investors and there are only a handful of them from what I can gather (like IBN, TTM, CTSH, INFY, SIFY, NTWK) so REDF may be more a function of that demand than underlying fundamental changes. We'll see.

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  99. CADC - Mt stinky was hit, doubling my position. Now let's see if I've got the nads to stick with it...

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  100. And Louie peep-doodle is missing, Mr. Fox must've revisited today while Poncho and I were out.

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  101. September 17, 2010 19:16 ET

    DETROIT, Sept 17 (Reuters) - The upcoming initial public offering of General Motors Co [GM.UL] will be open to the widest
    possible range of investors, including both overseas funds and U.S. retail buyers, the U.S. Treasury said on Friday.
    The statement marked the first time the Obama administration has clarified the rules that will be applied in a landmark IPO
    intended to reduce the U.S. government's 61-percent stake in the automaker.
    In the statement, the Treasury said that it would look to "maximize taxpayer returns" from the IPO while also looking to
    attract a stable base of investors and interest in the subsequent stock offerings that will be needed to eliminate U.S.
    government ownership.
    "We expect that potential investors will be sought across multiple geographies with a focus on North American investors, in
    line with what is typical in similar transactions," the statement said.
    The U.S. government will not become involved with the decisions about how many shares are allocated to specific
    investors, it said.

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  102. This is wierd:

    "Taiwanese steel and cement likely to benefit from China power outages
    Friday, 17 Sep 2010

    The China Post reported that Taiwan's cement and steel shares are likely to benefit from China's power restriction measures. The measures have been extended to 18 industries across 18 Chinese provinces, as China struggles to reach its energy conservation and carbon reduction goals.

    As per report, the power outage will last anywhere between one and three months, with the aim to force certain steel and cement manufacturers with high power consumption to close down.

    The first wave of restrictions was applied to Jiangsu, Zhejiang, Hebei and Shanxi Provinces. Another round of restrictive measures will be announced for 18 industries in 14 provinces. The industries will include metal, coal, glass and textiles, in addition to cement and steel.

    China has announced a major initiative to lower carbon emissions and energy consumption by 20% by the end of the year. A reduction of 14.38% was registered during the previous four years.

    Analysts said that the power restrictions are likely to lead to a shortage of cement and steel and manufacturers are expected to raise prices. Cement manufacturers do not have inventories and are likely to raise prices immediately and steel manufacturers are expected to do the same as their inventories have been on the decline.

    (Sourced from www.chinapost.com.tw)"

    http://www.steelguru.com/international_news/Taiwanese_steel_and_cement_likely_to_benefit_from_China_power_outages/165755.html

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  103. "Taiwan debut of iPhone 4 sets local records
    Taiwan debut of iPhone 4 sets local records
    Hsu Wei-chun stood in line for seven hours Thursday to be the first person to receive Apple Inc.'s iPhone 4 at a Chunghwa Telecom sales event that kicked off at midnight in Taipei. "

    Seven hours is nothing compared to the sidewalk camp-outs and seances I hear and read about in the US.

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  104. Here's the steelguru.com article as obtained from the "source", chinapost.com:

    http://www.chinapost.com.tw/business/asia/australia/2010/09/14/272435/Taiwan-likely.htm

    ReplyDelete
  105. maybe we should all get on the redf train ride on the next dip. then we can take 5% of our winnings and put it into a party pool for the holidays. If we commit upfront, it will pay all our trip to the bahamas in jan

    Y/N

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  106. Did you say 'seance,' CP? Sets up the new post...

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  107. CP- Re steel/cement...We talked about this a while ago, no? Wasn't the take that CADC was small enough to fly under the radar.

    VB- Vegas, baby!!

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