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10 Things You Need To Know Before The Opening Bell
Good morning. Here's what you need to know:
•Asian markets were lower in overnight trading, but the Nikkei rebounded sharply off its opening lows to finish down 1.44%. Major European indices are all trading higher this morning, and U.S. futures suggest a positive open.
•The crisis in Fukoshima continues today, with U.S. authorities saying citizens should "consider departing" Japan. The energy company TEPCO is attempting to reconnect the Daiichi power plant to the grid today, to restart the cooling process.
•U.S. CPI data is released at 8:30 AM ET. It is expected to show a rise in prices, with a month-over-month change of 0.4%.
•After the yen's surge dramatic last night, it has pulled back somewhat. There is now some question as to whether or not the Bank of Japan would actually consider intervening, as a strong yen would make imports for rebuilding cheaper. Check out these stunning photos of post-apocalyptic Japan.
•The U.S. government is now backing plans for a no-fly zone in Libya, and appears willing to go further than that. The U.S. may now be supporting air strikes on the country. Don't miss: The 11 countries at risk of becoming the next Egypt.
•Bahrain's crackdown on dissidents continues today, with the arrest Shia protest movement leaders. This comes less than 24 hours after violent attacks on protesters by government forces. Here's what's happening in Bahrain and why it really matters.
•German Chancellor Angela Merkel has come under fire for her decision to close 7 German nuclear power plants for 3 months. The closure is now expected to raise energy prices by 10%, and cost firms over $800 million. Check out the 13 countries most exposed to a nuclear backlash.
•Spain conducted a successful bond auction today, selling $5.8 billion in bonds at lower yields than the previous auction. Demand was high, and Spain has tightening its spread with Germany debt as a result. Here are the 14 countries more likely to default than Spain.
•Jobless claims data is released at 8:30 AM ET. The consensus is for a slight fall in that number to 387,000.
•The Philadelphia Fed Survey is released at 10:00 AM ET. It is expected to drop back slightly after last month's surge, to 32.
http://finance.yahoo.com/tech-ticker/10-things-you-need-to-know-before-the-opening-bell-536039.html?tickers=EWJ,SPY,USO&sec=topStories&pos=7&asset=&ccode=
Japan yen hits record high vs dollar; Nikkei down
BANGKOK (AP) -- The yen soared to a record high against the dollar as Japanese stocks drooped Thursday, erasing a portion of the gains from the day before as the country struggled to contain a post-earthquake nuclear crisis.
The dollar was trading at 79.18 yen in Asia after plunging to 76.53 yen late Wednesday in New York -- far below the previous all-time low of 79.75 yen set April 1995.
Major natural disasters like earthquakes tends to bolster the yen because investors expect the Japanese public and insurance companies to buy back their home currency in order to fund the country's reconstruction, increasing demand for the yen.
Many analysts have said they expected the Bank of Japan to sell dollars in an attempt to weaken the Japanese currency if the dollar dropped below 80 yen. A strong yen hurts the Asian country's exporters, potentially deepening any hit to the economy from the earthquake and lingering nuclear crisis.
The benchmark Nikkei 225 shed 2.1 percent to 8,903.86. That wiped out some of the gains from Wednesday's rally, which followed a sharp plunge in prices the previous two days. Japan's devastating earthquake, tsunami and nuclear crisis last week triggered widespread selling, wiping out all the stock market's gains this year.
The post-quake plunge prompted extraordinary government efforts to reassure investors and keep markets functioning to support recovery. Japan's central bank has pumped cash into Tokyo's money markets for three days in a row, a total liquidity injection to 55.6 trillion yen ($688.3 billion) since Monday. The Tokyo exchange's president also publicly appealed for calm.
"Growing uncertainty over the nuclear plant really spooked investors, promoting them to adjust positions and buy back the yen," said Masatoshi Sato, market analyst at Mizuho Investors Securities Co. Ltd.
"Foreign investors continued to dump stocks on growing fears over the nuclear accidents. Also investors are worried that the quake and the nuclear disaster could surely dent economic growth," Sato said.
The index had shed more than 1,600 points, or 16 percent, Monday and Tuesday as worries over the nuclear crisis triggered widespread selling.
http://finance.yahoo.com/news/Japan-yen-hits-record-high-vs-apf-370207416.html?x=0&sec=topStories&pos=main&asset=&ccode=
Wholesale prices spike on steep rise in food, oil
WASHINGTON (AP) -- Higher energy costs and the steepest rise in food prices in nearly four decades drove wholesale prices up last month by the most in nearly two years. Excluding those categories, inflation was tame.
The Producer Price Index rose a seasonally adjusted 1.6 percent in February, the Labor Department said Wednesday. That's double the 0.8 percent rise from the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than January's 0.5 percent rise.
Food prices soared 3.9 percent last month, the biggest gain since November 1974. Most of that increase was due to a sharp rise in vegetable costs, which increased nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose.
Energy prices rose 3.3 percent last month, led by a 3.7 percent increase in gasoline costs.
David Resler, an economist at Nomura Securities, said the jump in prices is likely temporary, echoing remarks made by the Federal Reserve on Tuesday. Much of the increase in food prices was due to winter freezes in Florida, Texas and other agricultural areas, Resler said. Turmoil in the Middle East is a major reason that motorists are facing higher gas prices.
"Both food and gasoline prices are going to stop rising so rapidly," Resler said.
But John Ryding, an economist at RDQ Economics, disagreed, noting that consumers will feel the impact for some time.
"We do not buy the Fed's reassurance that these pressures will be temporary and we believe the public, seeing these strong increases in food and energy ... will not be marking back down their inflation expectations," Ryding said.
Gas prices spiked in February and are even higher now. The national average price was $3.56 a gallon Tuesday, up 43 cents, or 13.7 percent, from a month earlier, according to the AAA's Daily Fuel Gauge. Rising demand for oil in fast-growing emerging economies such as China and India has pushed up prices in recent months. Unrest in Libya, Egypt and other Middle Eastern countries has also sent prices higher.
But economists expect the earthquake in Japan to lower oil prices for the next month or two, which should temper increases in wholesale prices in coming months. Japan is a big oil consumer, and its economy will suffer in the aftermath of the quake. But as the country begins to rebuild later this year, the cost of oil and other raw materials, such as steel and cement, could rise.
Oil prices fell sharply Tuesday as fears about Japan's nuclear crisis intensified. Oil dropped $4.01, or 4 percent, to settle at $97.18 per barrel on the New York Mercantile Exchange.
Prices rose 1 percent for apparel, the most in 21 years. Costs also increased for cars, jewelry, and consumer plastics.
There was little sign of inflationary pressures outside of food and energy. Core prices have increased 1.8 percent in the past 12 months.
Separately, the Commerce Department said Wednesday that home construction plunged to a seasonally adjusted 479,000 homes last month, down 22.5 percent from the previous month. It was lowest level since April 2009, and the second-lowest on records dating back more than a half-century.
The building pace is far below the 1.2 million units a year that economists consider healthy.
http://finance.yahoo.com/news/Wholesale-prices-spike-on-apf-51443885.html?x=0&sec=topStories&pos=main&asset=&ccode=
New-home construction plunges in February
WASHINGTON (AP) -- Builders broke ground last month on the fewest homes in nearly two years, a reflection of declines in home prices and diminished demand that has made it difficult for them to compete.
The Commerce Department says home construction plunged to a seasonally adjusted 479,000 homes last month, down 22.5 percent from the previous month. It was the lowest level since April 2009 and the second-lowest on records dating back more than a half-century.
The building pace is far below the 1.2 million units a year that economists consider healthy.
Millions of foreclosures have forced home prices down and more are expected this year. Tight credit has made mortgage loans tough to come by. And some potential buyers who could qualify for loans are hesitant to enter the market, worried that prices will fall further.
The drop in home construction activity was felt coast to coast. It fell 48.6 percent in the Midwest, 37.5 percent in the Northeast, 28 percent in the West and 6.3 percent in the South.
Economists say falling prices, sluggish sales and the weak construction rate all point to a housing market that is years away from a recovery.
"There are really large structural problems with the housing market," said Dan Greenhaus, chief economic strategist with Miller Tabak + Co. "This is not a run-up in oil prices. This is a multiyear build up in the housing market that is going to take more than several months or several quarters to get through."
The volatile housing market is weighing on the overall economic recovery. Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.
The trade group said Tuesday that its index of industry sentiment for March improved slightly to 17. That was the first gain in five months after four straight readings of 16. Still, any reading below 50 indicates negative sentiment about the housing market's future. The index hasn't been above that level since April 2006.
http://finance.yahoo.com/news/Newhome-construction-plunges-apf-3427781814.html?x=0&sec=topStories&pos=main&asset=&ccode=
China Ends America's Century Old Manufacturing Dominance
Ending a 110-year run for America as the world's dominant producer, China has overtaken the United States as the world's largest manufacturer. According to economics research firm IHS Global Insight, China manufactured 19.9% of the world's goods in 2010, while the U.S. accounted for 19.4%.
This marks the first time since 1850 that China has held the crown as the world's largest manufacturer, the latest sign of the nation's economic resurgence. (See: China Overtakes Japan in Economic Clout: Is the U.S. Next?)
The U.S. “should be worried” by the news, Deborah Wince-Smith, chief executive of the Council on Competitiveness, tells The Financial Times. “This shows the need for the U.S. to compete in the future not on the basis of commodity manufacturing but on innovation and new kinds of services that are driven by production industries."
True as that might be, it doesn't mean the world's most populated country is destined to hold the crown for as long as the U.S.. China is already suffering the growing pains of higher labor costs, labor shortages and a push for better working conditions in its factories.
There is, however, plenty of reason the U.S. should use this as a wake-up call. America must recognize China is no longer just producing low-end cheap products, it's now home to many high-tech components that live in Apple devices and other consumer electronics. Thanks to better technology, education and infrastructure the Chinese will continue to move up the production food chain, including highly sophisticated weaponry.
Wages in the U.S. can't compete with those in China or other emerging markets, where manufacturing enjoys massive support from government susidies and incentives.
http://finance.yahoo.com/tech-ticker/china-ends-america%27s-century-old-manufacturing-dominance-536026.html?tickers=fxi,eem,^dji,^gspc,iyj,vaw,pgj&sec=topStories&pos=9&asset=&ccode=
February budget deficit highest ever for any month
WASHINGTON (AP) -- The government ran the largest-ever budget deficit for a single month in February. The shortfall kept this year's annual deficit on pace to end as the biggest in U.S. history.
The widening deficit reflects the impact of the tax-cut package President Barack Obama and congressional Republicans brokered in December.
As a result, the nonpartisan Congressional Budget Office in January raised its estimate for the annual deficit from $1.1 trillion to $1.5 trillion. It said the tax cuts would add $400 billion to this year's gap. The budget year ends Sept. 30.
The tax-cut package extended income tax cuts, reduced workers' Social Security taxes, extended unemployment benefits and accelerated business tax write-offs, among other steps.
February's deficit of $222.5 billion eclipsed last February's record by nearly $2 billion. The full-year deficit would exceed 2009's record deficit of $1.41 trillion. And it would mark the third straight year of $1 trillion-plus deficits.
It's unusual for an economy to be running record-high deficits this far into a recovery. The recession that began in December 2007 ended in June 2009. The problem is that the financial crisis and the recession that followed fueled explosive deficit growth.
The government collected less tax revenue after millions of people lost their jobs. And it spent more than $1 trillion to bail out the financial system and stimulate the economy.
Republicans have pushed for more than $60 billion in spending cuts this year to help shrink the deficit. Obama and congressional Democrats support some cuts. But they object to the scope of the Republican cuts. They argue that the GOP cuts would unfairly hurt education, college aid and support for low-income groups.
Even if Republicans achieved their target for spending cuts this year, the 2011 deficit would still be on track to hit a record. Through the first five months of this budget year, government revenue totaled $869 billion. That was up 8.6 percent from the same period a year ago. Government spending totaled $1.51 trillion, a 4 percent increase.
The overall tax-cut package enacted in December has been estimated to cost $858 billion. The one-year Social Security tax cut reduces that tax for all wage earners, from 6.2 percent to 4.2 percent, on the first $106,800 in annual pay. Its estimated cost is $112 billion.
One of the sharpest increases in government spending has been interest payments on the debt: $94.5 billion so far this budget year. That's up 9.3 percent from the same period a year ago. It reflects the growing size of the national debt from the annual deficits.
Economists have warned that unless Congress and the White House agree on a credible plan to reduce the deficit, they risk hurting the economy. Investors could grow nervous and demand higher interest payments to lend to the government. That would drive up borrowing costs for the government and for consumers and businesses. Economic growth would slow.
Federal Reserve Chairman Ben Bernanke has called for a plan to reduce the deficit over the long run. But Bernanke has cautioned against slashing spending too soon. Last week, he told Congress that the Republicans' proposed spending cuts could cost the economy a couple hundred thousand jobs.
Private economists have suggested that the damage would be worse. Mark Zandi, chief economist at Moody's Analytics, has estimated that the GOP plan would cost the economy 700,000 new jobs by the end of next year.
Still, Zandi, too, has pushed for deficit reduction.
"The huge deficits are the nation's most serious long-term economic threat," he said Thursday. "These numbers highlight that we need to make some very fundamental changes to government spending and tax policy."
http://finance.yahoo.com/news/February-budget-deficit-apf-1010393433.html?x=0&sec=topStories&pos=main&asset=&ccode=
ok.. im sick and tired of pulling out and dusting off my bear suit..IS it finally time?
lol
Wisconsin GOP bypasses Dems, cuts collective bargaining
MADISON, Wis. (AP) -- Dozens of protesters camped outside the Wisconsin state Assembly chamber on Thursday in anticipation of a final vote on explosive anti-union rights legislation that whisked through the Senate after Republicans outmaneuvered their missing Democratic counterparts and brought a three-week stalemate to its unexpected end.
The dramatic turn of events late Wednesday set up Thursday's perfunctory vote on the legislation that would strip collective bargaining rights from most public workers. Once the measure passes the Assembly, it heads to Republican Gov. Scott Walker for his signature.
Within hours of the Senate passing the plan, a crowd of hundreds of protesters grew to about 7,000 in the Capitol, a crowd as large as any seen inside the building in three weeks of demonstrations.
"The whole world is watching!" protesters shouted as they pressed up against the heavily guarded entrance to the Senate chamber.
Most protesters left by midnight -- many were expected back Thursday for a rally preceding the Assembly vote -- but dozens of others spent the night in the Capitol corridors, some sleeping on the marble floor with no padding. State officials said no attempts would be made to force them to leave.
The legislation, which rocked the state and unions nationwide, had been stymied after all 14 Senate Democrats fled to Illinois three weeks ago, preventing the chamber from having enough members present to pass it. Walker introduced it to plug a $137 million budget shortfall.
The Senate requires a quorum of 20 to take up any measures that spend money. But a special committee of lawmakers from the Senate and Assembly voted late Wednesday afternoon to take all the spending measures out of the legislation and the Senate approved it minutes later, 18-1.
Republican Sen. Dale Schultz cast the lone no vote.
"I voted my conscience which I feel reflects the core beliefs of the majority of voters who sent me here to represent them," Schultz said in a statement.
The unexpected yet surprisingly simple procedural move ended the stalemate that had threatened to drag on indefinitely. Until Wednesday's stunning vote, it appeared the standoff would persist until Democrats returned to Madison from their self-imposed exile. But in a matter of minutes, it was over.
"In 30 minutes, 18 state senators undid 50 years of civil rights in Wisconsin. Their disrespect for the people of Wisconsin and their rights is an outrage that will never be forgotten," said Democratic Senate Minority Leader Mark Miller. "Tonight, 18 Senate Republicans conspired to take government away from the people."
In an interview with The Associated Press, Miller said there is nothing Democrats can do now to stop the bill: "It's a done deal."
Democratic state Sen. Dave Hansen said the Senate vote took him by surprise.
"We didn't believe that the Republican senators would stay with the governor and rubber-stamp his plan," Hansen told CBS' "Early Show" on Thursday.
The Democrats may put renewed energy into efforts under way to recall eight of the Republican state senators. Six Democratic senators are also the target of recall efforts.
Senate Democrats met late Wednesday night to discuss when they might return. They said they would not be back on Thursday, but gave no indication when they might come home.
"We are going to watch and see how the Assembly unfolds," said Sen. Spencer Coggs. "There will be fireworks. There will be a lot of people at the Capitol and so it will be hard to get in and out of the Capitol."
Walker had repeatedly argued that collective bargaining is a budget issue, because his proposed changes would give local governments the flexibility to confront the budget cuts needed to close the state's $3.6 billion deficit. He has said that without the changes, he may have needed to lay off 1,500 state workers and make other cuts to balance the budget.
Walker said Wednesday night that Democrats had three weeks to debate the bill and were offered repeated opportunities to come back, but refused.
"I applaud the Legislature's action today to stand up to the status quo and take a step in the right direction to balance the budget and reform government," Walker said in the statement.
The measure forbids most government workers from collectively bargaining for wage increases beyond the rate of inflation unless approved by referendum. It also requires public workers to pay more toward their pensions and double their health insurance contribution, a combination equivalent to an 8 percent pay cut for the average worker.
Police and firefighters are exempt.
Walker's proposal touched off a national debate over union rights for public employees and prompted tens of thousands of demonstrators to converge on Wisconsin's capital city for weeks of protests.
Wednesday's drama unfolded less than four hours after Walker met with GOP senators in a closed-door meeting. He emerged from the meeting saying senators were "firm" in their support of the bill.
For weeks, Democrats had offered concessions on issues other than the bargaining rights and they spent much of Wednesday again calling on Walker and Republicans to compromise.
Senate Majority Leader Scott Fitzgerald said earlier that Republicans had been discussing concessions offered by Walker, including allowing public workers to bargain over their salaries without a wage limit. Several GOP senators facing recall efforts had also publicly called for a compromise.
"The people of Wisconsin elected us to come to Madison and do a job," Fitzgerald said in a statement after the vote. "Just because the Senate Democrats won't do theirs, doesn't mean we won't do ours."
Assembly Minority Leader Peter Barca, the lone Democrat present on the special committee that put the bill in position to pass the Senate, shouted that the meeting was a violation of the state's open meetings law.
"The jig is now up," Barca said. "The fraud on the people of Wisconsin is now clear."
The Senate's chief clerk said hours later the meeting was properly held. Fitzgerald said he cleared the Senate's action with the Legislature's attorneys, the nonpartisan Fiscal Bureau and bill drafters.
Union leaders weren't happy with Walker's previous offer of concessions, and were furious at the Senate's move to push the measure forward with a quick vote. Phil Neuenfeldt, president of the Wisconsin state AFL-CIO, said after Wednesday's vote that Republicans exercised a "nuclear option."
"Scott Walker and the Republicans' ideological war on the middle class and working families is now indisputable," Neuenfeldt said.
Associated Press writers Todd Richmond and Jason Smathers in Madison, and Robert Ray in Grayslake, Ill., contributed to this report.
http://finance.yahoo.com/news/Wis-GOP-bypasses-Dems-cuts-apf-1511050267.html?x=0&sec=topStories&pos=2&asset=&ccode=
January trade deficit jumps to $46.3 billion
WASHINGTON (AP) -- A surge in oil prices helped push imports up at the fastest pace in 18 years in January, giving the country the largest trade deficit in six months.
The Commerce Department said Thursday the January deficit increased 15.1 percent to $46.3 billion. Exports rose 2.7 percent to an all-time high of $167.7 billion. But imports rose a faster 5.2 percent to $214.1 billion. That reflected a big jump in America's foreign oil bill, underscoring concerns that surging oil prices could slow the economic recovery.
A widening trade deficit hurts the U.S. economy. When imports outpace exports, more jobs go to foreign workers than to U.S. workers.
The politically sensitive deficit with China rose 12.5 percent to $23.5 billion in January, the largest with any country. Last year, the deficit with China rose to a record $273.1 billion, increasing political pressure in this country to take a tougher line on what critics see as China's unfair trading practices such as manipulating its currency to gain trade advantages.
China, which typically runs huge trade surpluses with the rest of the world, reported a surprise deficit of $7.3 billion for February as surging prices for oil and other commodities pushed imports up 19.4 percent while its exports dropped dropped 2.4 percent.
The export decline reflected the fact that Chinese businesses were idled for the weeklong Lunar New Year holiday. Analysts said the rare trade deficit for China was likely to be temporary and not the start of a trend.
The overall U.S. deficit in January would would translate into an annual deficit of $556.1 billion. Last year's imbalance was $495.7 billion, which was 32.8 percent higher than in 2009 when a deep recession in this country had shrunk America's appetite for foreign goods.
Economists expect that this year's deficit will be essentially unchanged from 2010 as rising imports, reflecting a growing U.S. economy, are matched by continued strong export sales. However, they caution that this forecast could turn out to be too optimistic if oil prices, which have surged on political turmoil in Libya and other countries in the region, keep climbing.
For January, America's oil bill jjmped 9.5 percent to $34.9 billion, the highest level since October 2008, reflecting a $4.56 per barrel increase in the average price of imported crude oil, which rose to $84.34. In recent weeks, oil has been trading above $100 per barrel so oil imports will likely be even higher in the February and March trade reports.
President Barack Obama has set a goal of doubling U.S. exports by 2015. The administration is taking a tougher stance in trade disputes with China, including applying more pressure to get China to allow its currency to rise in value against the dollar.
On Wednesday, Obama sought to highlight the importance of the US-China relationship by nominating Commerce Secretary Gary Locke to be U.S. ambassador to China. Locke would be the first Chinese-American to serve in that post.
The rise in U.S. exports pushed them to a record high, surpassing the old mark of $165.7 billion set in July 2008 before a financial crisis in the United States pushed the global economy into a deep recession. The export strength in January reflected strong sales of U.S. autos, industrial machinery, medical equipment and farm products including wheat.
America's deficit with Canada edged down 4.9 percent to $3.7 billion while the imbalance with the European Union dropped 15.3 percent to $5.6 billion. The U.S. deficit with Japan fell 15.6 percent to $5 billion.
http://finance.yahoo.com/news/January-trade-deficit-jumps-apf-846245900.html?x=0&sec=topStories&pos=6&asset=&ccode=
Stocks Slammed as Unemployment Claims, Trade Deficit Rise
http://finance.yahoo.com/news/Stocks-open-lower-as-apf-2850721087.html?x=0&sec=topStories&pos=main&asset=&ccode=
Silver $36.10/oz We getting to $50 this year?
Yeah, saw that
Will be interesting to see where he puts it next
Hmmmmmm...
Warren Buffett's firm sells off several US stocks
Berkshire sold off 5 million shares of Bank of America Corp., 187,000 Comcast Corp. shares, 6.5 million Lowe's Cos. shares and 3.6 million shares of Nike Inc.
Berkshire also unloaded 1.9 million shares of Becton, Dickinson & Co., 3.9 million shares of Fiserv Inc., 6.1 million shares of Nalco Holding Co. and 3.4 million shares of Nestle.
And Berkshire reduced its stake in Bank of New York Mellon Corp. just three months after it revealed a new investment of nearly 2 million shares in the bank. At year end, Berkshire held 1.79 million shares of BNY Mellon.
http://finance.yahoo.com/news/Warren-Buffetts-firm-sells-apf-71701181.html?x=0&sec=topStories&pos=main&asset=&ccode=
Just put my first two trades in last week. Didn't really see anything I liked. They're CYTK and CELM if you want to check them out.
Yeah pretty crazy no? I think part of it has to do with upcoming inflation plus everyone seems to be trying really hard to convince people that the recession is over and that it's time to get back in stocks. We'll see...
hows it going bro? you having a good year so far? DOW 12,300, eh. looks good..... but feels soooooo wrong! lol
what is going on man..?
2010 DARWIN AWARDS
'You've been waiting for them with baited breath, so without further ado here are the 2010 Darwin awards.
8th Place
In Detroit , a 41-year-old man got stuck and drowned in two feet of water after squeezing head first through an 18-inch-wide sewer grate to retrieve his car keys.
7th Place
A 49-year-old San Francisco stockbroker, who "totally zoned when he ran", accidentally, jogged off a 100-foot high cliff on his daily run.
6th Place
While at the beach, Daniel Jones, 21, dug an 8 foot hole for protection from the wind and had been sitting in a beach chair at the bottom, when it collapsed, burying him beneath 5 feet of sand. People on the beach used their hands and shovels trying to get him out but could not reach him. It took rescue workers using heavy equipment almost an hour to free him. Jones was pronounced dead at a hospital.
5th Place
Santiago Alvarado, 24, was killed as he fell through the ceiling of a bicycle shop he was robbing. Death was caused when the long flashlight he had placed in his mouth to keep his hands free, rammed into the base of his skull as he hit the floor.
4th Place
Sylvester Briddell, Jr., 26, was killed as he won a bet with friends who said he would not put a revolver loaded with four bullets into his mouth and pull the trigger.
3rd Place
After walking around a marked police patrol car parked at the front door, a man walked into H&J Leather & Firearms intent on robbing the store. The shop was full of customers and a uniformed officer was
standing at the counter. Upon seeing the officer, the would-be robber announced a hold-up and fired a few wild shots from a target pistol. The officer and a clerk promptly returned fire and several customers also drew their guns and fired. The robber was pronounced dead at the scene by Paramedics. Crime scene investigators located 47 expended cartridge cases in the shop. The subsequent autopsy revealed 23 gunshot wounds. Ballistics identified rounds from 7 different weapons. No one else was hurt.
HONORABLE MENTION
Paul Stiller, 47, and his wife Bonnie were bored just driving around at 2 a.m. So they lit a stick of dynamite to toss out the window to see what would happen. Apparently they failed to notice the window was closed
RUNNER UP
Kerry Bingham had been drinking with several friends when one of them said they knew a person who had bungee-jumped from a local bridge in the middle of traffic. The conversation grew more heated and at least 10 men trooped along the walkway of the bridge at 4:30 a.m. Upon arrival at the midpoint of the bridge they discovered that no one had brought a bungee rope. Bingham, who had continued drinking, volunteered and pointed out that a coil of lineman's cable lay nearby. They secured one end around Bingham's leg and then tied the other (!) to the bridge. His fall lasted 40 feet before the cable tightened and tore his foot off at the ankle. He miraculously survived his fall into the icy water and was rescued by two nearby fishermen. Bingham's foot was never located.
AND THE WINNER IS...
Zookeeper Friedrich Riesfeldt ( Paderborn , Germany ) fed his constipated elephant 22 doses of animal laxative and more than a bushel of berries, figs and prunes before the plugged-up pachyderm finally got relief. Investigators say ill-fated Friedrich, 46, was attempting to give the ailing elephant an olive oil enema when the relieved beast unloaded. The sheer force of the elephant's unexpected defecation knocked Mr. Riesfeldt to the ground where he struck his head on a rock as the elephant continued to evacuate 200 pounds of dung on top of him. It seems to be just one of those freak accidents that proves.... 'shit happens'.
Same to you! Hoping for another great year!
Happy New year buddy!
Thanks! Had a wonderful Christmas this year
Hope yours was excellent as well :Thumbsup:
Happy holidays breakout!
CRMD - One I traded recently
Really hoping it will come back down, but there's a lot of newsletters/sites getting in on this one
My DD:
CorMedix Inc. is a pharmaceutical company focused on in-licensing, developing and commercializing therapeutic products for the prevention and treatment of cardiac and renal dysfunction, also known as cardiorenal disease. The company's goal is to treat kidney disease by reducing the commonly associated cardiovascular and metabolic complications, in effect, treating the kidney to treat the heart. CorMedix currently has several product candidates in development.
The company began trading publicly in May of this year, trading as high as $4 a share. Although the company continues to move forward and has enough cash to fund operations until April 2010 (not counting an additional $490,000 recently received from government grants), CorMedix's stock yesterday traded near its 52-week low of $1.08. The company has a market cap of $16.4 million and an enterprise value of a mere $4 million.
No drugs are currently marketed for the therapies being targeted by CorMedix. The company's Neutrolin compound could become the first FDA-approved drug that addresses one of the seven major healthcare challenges, Catheter-Related Bloodstream Infection (CRBI), as defined by the Center for Disease Control (CDC). This challenge represents an approximate $675 million per year revenue opportunity in the United States alone.
The Deferiprone compound is being developed as a therapy for Contrast Induced Nephropathy (CIN) which can lead to morbidity and death. It is already approved and available in a different formulation for sale in 50 countries outside the U.S. as a treatment for iron overload disorders. This compound addresses an approximate $365 million per year revenue opportunity.
Analysts are very supportive of the company. Two analysts have issued "Strong Buy" recommendations and another has titled the stock a "Buy". With price targets ranging from $5.00 to $13.00, the average analyst price target is $8.00. A 47 page research report is available at: http://www.lifesciadvisors.com/pdfs/Cormedix_LSA_Initiation_10-26-2010.pdf
Upcoming Expected Neutrolin (CRMD003) Milestones
• 4Q 2010: Investigational Device Exemption (IDE) application submission
• 4Q 2010: Commence Application for CE (CE means European Conformity) marketing in
Europe (EU)
• 1H 2011: Initiation of Pivotal trial for prevention of Catheter-Related Bloodstream Infection
(CRBI) in hemodialysis patients
• 2H 2011: Potential product launching in Europe
• 1H 2012: Release of preliminary data from Pivotal Phase III clinical trial
• 2H 2012: File Premarket Approval (PMA) application in the U.S
• 1H 2013: FDA approval of Neutrolin (CRMD003)
Upcoming Expected Deferiprone (CRMD001) Milestones
• 2H 2010: Deferiprone interim analysis from Phase II CIN study
• 2H 2011: Phase II data from Deferiprone study
• 2H 2011: Phase III DEFEND-AKI clinical trial (prevention of Contrast-Induced
Nephropathy in patients with Chronic Kidney Disease) – Expected to begin
• 2H 2012: Release of data from Phase III DEFEND-AKI trial
• 4Q 2012: File for New Drug Application (NDA) for Deferiprone (CRMD001)
• 2H 2013: FDA approval of Deferiprone (CRMD001)
im hoping this is the start of a nice reversal. i still have some options
... picked up a few this am then gave em back eod..i was hoping for a cushion between the close and my buy price but it never happened..and with the way this market has been, Im not eager to hold anything over night. i would rather buy in higher on possible reversal confirmation. we will both have to keep an eye on it
Yeah, that's really nice
I'll have to keep an eye on it
Just keeping busy as always :Thumbsup:
I would vote short based on the chart and recent data that came out - although the fed could change things
have a good weekend breakout!
Great to hear!
I like Chili's lol jk
yeah. i snagged a few in the 1.18 area thanks to u!
owe ya dinner buddy hehe
Pretty happy with it
The chart was text-book although this morning's action sure wasn't expected after yesterday's lousy trading
ROIAK shwing! great one
rolling the dice, eh. im interested to see what the follow up is to todays doji. But, you are like a money magnet...so im sure you nailed the bottom hehe
ROIAK purchased on the afternoon dip
Credit goes to OTC_Showcase for bringing it to my attention
You too!
wow..nice find. added it to my priority watch list for next week.
have a great weekend bro!
Hey SIIX, just keeping busy as usual :Thumbsup:
Haven't noticed any... BP might offer opportunity depending on where it opens Monday. Could have almost gambled some before close, but you never know what will happen.
Glad to hear your other trades are doing better. Drink that kool-aid haha
You too!
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1. Take Profits Often.
2. Do Your Own DD.
3. Take Profits Often.
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