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Am Ready Watching & Waiting:
I'll keep watching this one with you.
Come on baby, make my week!
US Housing Market Rattles Traders from Frankfurt to Sydney:
US debt jolts world markets,
Soaring foreclosure rates and a sharp slump in the US housing market have rattled traders from Frankfurt to Sydney.
By Ron Scherer | Staff writer of The Christian Science Monitor
from the August 17, 2007 edition
Snippet:
Reporter Ron Scherer discusses how recent turmoil in global financial markets is impacting US home mortgage rates.
New York - Over the past six years, Chinese central bankers, French pension-fund managers, and staid German bankers have been the piggy bank for America's housing boom.
In that time, foreign loans to help Americans get mortgages have quadrupled to nearly $1 trillion.
That's one reason soaring foreclosure rates in the US and a sharp slump in the housing market have rattled traders from Frankfurt au Main in Germany to Pitt Street in Sydney, Australia. The prospect of large losses has caused stock markets to tumble worldwide. And central banks have injected billions of dollars to prevent a credit crunch from becoming a financial rout.
On Thursday, there were more signs that the financial markets were trying to cope with the crisis. Instead of just providing overnight liquidity, the Federal Reserve lengthened its cash injection to 14 days. At the same time, Countrywide Financial Corp., the nation's largest mortgage lender, borrowed $11.5 billion from 40 banks. And central banks in Australia and Asia continued to inject funds into their banking system.
In the past, such financial market turmoil would have probably driven the US economy into a recession. "The financial problems may have taken a few banks down and maybe driven the economy into a recession," says Jay Bryson, an international economist at Wachovia Bank in Charlotte, N.C.
However, this time a financial innovation called securitization has allowed the packaging of mortgages and other debt obligations that have been sold to investors around the globe.
"If you allow a bank in France to have a piece of the mortgage market, it should in theory be better because when things go sour everyone takes a little bit of a loss," says Mr. Bryson. "What we've found is that people don't even like these little losses."
•In Canada, the Bank of Canada injected liquidity into the market after a large investment fund, Coventree, sought funding after it could not roll over $1 billion in short term loans.
•In Paris, BNP Paribas froze the assets of three funds that had invested in mortgage-backed securities because it wasn't possible to determine their value. The bank also has loans out to US lender Homebanc, which is in bankruptcy.
•In Germany, IKB Deutsche Industriebank AG was bailed out by a consortium of other German banks, which invested $3.5 billion euros. IKB said it held about $24 billion in subprime mortgages, loans made to people with risky credit. According to press reports, the losses could be up to 20 percent of the portfolio.
•The Swiss investment banker, UBS estimates that the top nine Japanese banks have an exposure of $8.4 billion in subprime loans and may be facing losses of 10 percent of that amount...
Full Article:
http://www.csmonitor.com/2007/0817/p01s02-usec.html
Market at Close - Another Green Day:
Strategic Resources
Best Bid Best Ask Time of Last Inside Change
0.65 (2500 shares) 0.70 (2500 shares) 3:59 PM
Trade Data / Last Trade 08/17/2007
Last Sale 0.69 Change +0.09
% Change +15.00 Tick Up
Daily High 0.70 Daily Low 0.55
Opening Price 0.61 Volume 116,267
Annual High 1.17 Annual Low 0.05
Prev Close 0.60 Dividend 0.00
Yield 0.00 Beta Coefficient 0.91
Looks like we're on the move:
Maybe someone just recognized a good deal & couldn't pass it up.
Could be the start of what we've been looking for?
Watching & Waiting.
CMF(20) has gone above the zero line, that's Good News!
Without being in the negative zone, there can be no growth.
Now, it looks like we can move into the green.
Go Baby Go, make my week!!!
Let it Ride:
Mick, it looks like its just you & me riden solo.
I keep waiten for her to go to a buck fifty ... will she make it this time?
Gotta Jumper Today:
Market at Close:
Best Bid Best Ask Time of Last Inside Change
0.74 (2500 shares) 0.758 (2500 shares) 3:56 PM
Trade Data / Last Trade 3:59 PM
Last Sale 0.74 Change +0.09
% Change +13.8462 Tick Up
Daily High 0.759 Daily Low 0.70
Opening Price 0.70 Volume 442,044
Annual High 1.17 Annual Low 0.05
Prev Close 0.65 Dividend 0.00
Yield 0.00 Beta Coefficient 0.91
Back In the Money Today!
How To Use the Railroad Commission Web Site:
Railroad Commission of Texas
http://www.rrc.state.tx.us/howto.html
Seven Steps to Make a Well:
Graphic display of drilling procedure shown as follows:
http://www.terrainvest.no/images/EDPGRAPHIC.pdf
Site Preparation, Conductor Hole, Rathole, and Mousehole:
http://www.osha.gov/SLTC/etools/oilandgas/site_preparation/conductor_rathole_mousehole.html
3 News Articles - US, EU fight Credit Crunch:
Article 1:
Emergency funding aims to keep subprime woes from spreading.
http://www.csmonitor.com/2007/0810/p01s05-usec.html
New York - For the first time since 9/11, the Federal Reserve has had to step into the financial system with emergency funds to calm roiled credit markets.
The move Thursday followed an injection of capital into Europe's banking system. On both sides of the Atlantic, the central bankers began to recognize a crisis in confidence in the market known as asset-backed securitization, which funds everything from housing to student loans and has outstanding debt of more than $4.2 trillion. The banks' moves are seen as a signal that they're willing to provide liquidity to any bank that needs it.
By acting as lenders of last resort, the world's two largest central banks are trying to keep a liquidity crunch in this sector from spreading to the rest of their economies. If the crunch were to become more widespread, interest rates would rise and banks would have to pay more to fund loans, slowing the economy. In Europe already, interest rates skyrocketed to the highest level in six years after a major French bank froze three funds that had invested in asset-backed securities.
"It's a very significant event to have the Fed inject liquidity into the system," says Mark Zandi, chief economist at Moody's Economy.com. "It indicates a very high level of stress in the financial system."
The Fed acted because investors had stopped buying asset-backed securities following the difficulties in the US mortgage market.
The securitization industry, which involves financial institutions around the globe, provides liquidity that helps fund loans for housing, automobiles, credit cards, and student loans – and anything else where an asset can be bundled into a package and resold to other investors.
The crisis in the industry began to mount after the collapse of many mortgage lenders in the subprime market. That market makes loans to low-income people or those with less than stellar credit ratings. The crisis escalated after the collapse of American Home Mortgage, which was not in the subprime market. By early this week, buyers of overnight debt, which banks use to fund lending activity in the securitization market, had backed away. This caused BNP Paribas, a major French bank, to freeze withdrawals from three of its funds Thursday because it could not value the fund's assets.
The problems at BNP Paribas, a major European bank, caused the European Central Bank to inject $130.2 billion into the financial markets, according to Bloomberg News.
Article 2:
Mortgage concerns hit US Markets
http://news.bbc.co.uk/2/hi/business/6938072.stm
US shares have tumbled amid fears that problems in the mortgage market may prompt a global credit crunch.
The main Dow Jones index fell 387.18 points, or 2.8%, to 13,270.68. The S&P shed 3% and the Nasdaq lost 2.2%.
European indexes had slumped earlier after BNP Paribas froze three funds saying the market for some of the assets they contained had disappeared.
The European Central Bank and Japan have both pumped money into the banking market to boost liquidity.
The Japanese central bank injected 1 trillion yen (US$8.4bn, £4.2bn) into markets in an effort to stop further falls on Friday.
There also were reports that the US Federal Reserve was doing something similar to ensure that there was enough cash available for banks to use.
Analysts said that the markets would remain volatile in the near future.
"Markets are taking this latest news seriously with the risk appetite on the back foot," said David Corbell, analyst at IFR Markets...
Article 3:
US lender on Brink of Bankruptcy
http://news.bbc.co.uk/2/hi/business/6933336.stm
American Home says it was the tenth biggest retail mortgage lender.
US lender American Home Mortgage has filed for bankruptcy, after laying off the majority of its staff last week.
The demise of one of the country's largest independent home loan providers is the latest case of a business suffering from the US housing slump.
Despite these worries, Wall Street rallied on Monday with leading share indices closing up sharply.
The benchmark Dow Jones industrial average closed up 286.87 points, or 2.1%, at 13,468.78.
Market Volatility - The strong gains reflected continued volatility on the markets, the Dow Jones having fallen by a similar amount on Friday.
American Home Mortgage's woes are the latest to afflict the mortgage investment market.
Earlier this year the firm had over seven thousand employees, but by Friday only 750 staff remained.
Repeated interest rate rises have pushed up loan repayments, leading to a rise in defaults and hitting mortgage lenders hard.
While the sub-prime market - the sector that caters for the riskiest borrowers - has been the most obvious to suffer from defaults, it is not alone.
American Home Mortgage offered loans that were categorised between prime and sub-prime.
It also provided the less common mortgage with adjustable interest rates. Most US mortgages have fixed rates.
As the firm files Chapter 11 proceedings - the US process to seek bankruptcy protection - Deutsche Bank, Wilmington Trust and JP Morgan Chase are American Home Mortgage's three largest creditors.
World Market Reports:
Big US slump ends volatile 2 weeks in Global Markets.
http://news.bbc.co.uk/2/hi/business/6930654.stm
Are global market bubbles set to blow?
http://news.bbc.co.uk/2/hi/business/6748803.stm
Green Light:
The candlestick formation looks like a green light to me.
CMF(20) has broken above the zero line.
It looks like we're headen back up from here.
It was a Quote from AmBull:
American Bulls Report Quoted - We hope that you acted quickly and already bought this stock.
Now, all we gotta do is watch & wait.
Patience, Patience & More Patience:
Patience pays off. The market wavered a bit but finally confirmed the recent bullish formation. The dose of the previous day was not enough for a BUY-IF confirmation but today it is. Though the market opened lower today, the day’s activity created a white candlestick that closed above the previous close. This is a valid confirmation criterion. The market is now ready for a bullish move. We hope that you acted quickly and already bought this stock ...
American Bulls Report:
http://www.americanbulls.com/StockPage.asp?CompanyTicker=SGCR&MarketTicker=OTC&TYP=S
Very Good News Indeed!
The clocks ticking, its only a matter of time.
Time for waiting is just about over!
More Reading & DD:
Mason, when your finished with that read, go to:
http://investorscob.com/earsforum/index.php?board=2.0
For further due diligence, there's several other topics to read here.
Historical Data Dating back to 1870's:
Mason, the fastest and easiest way to bring you up to speed on Unico's mining claims, go to:
http://investorscob.com/earsforum/index.php?topic=30.0
Grab a Cuppa Coffee & Be Prepared to Read.
Nice Purchase:
Welcome to the board.
Hopefully, good news will follow soon along with a forward march upward.
I'm keeping an eye on this one!
Market at Close:
ACKO
Best Bid .... Best Ask .... Time of Last Inside Change
0.02 (5000 shares) .... 0.03 (5000 shares) .... 4:00 PM
Trade Data / Last Trade 07/31/2007
Last Sale: 0.024
Change: +0.004
% Change: +20.00 Tick
Daily High: 0.024
Daily Low: 0.02
Opening Price: 0.02
Volume: 46,150
Annual High: 0.11
:Annual Low 0.02
Prev Close 0.02
Pink Sheets:
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=acko#getQuote
Market at Close:
ATEX
Best Bid .... Best Ask .... Time of Last Inside Change
0.017 .... (10000 shares) .... 0.024 (5000 shares) .... 7:46 AM
Trade Data / Last Trade 07/31/2007
Last Sale: 0.017
Change: +0.001
% Change: +6.25 Tick
Daily High: 0.017
Daily Low: 0.017
Opening Price: 0.017
Volume: 7,400
Annual High: 0.045
Annual Low: 0.007
Prev Close 0.016
Pink Sheets:
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=atex#getQuote
Questions Questions & More Questions:
Here's the guy who drills the Giddings Field.
Ray Holifield
http://www.holifieldoil.com/
I'm invested in both ACKO & ATEX. The companies are very similiar in nature.
ATEX:
http://investorshub.advfn.com/boards/board.asp?board_id=7979
I've posted what I know in either the I-Boxes or as individual posts.
From what I can tell the shares are in the hands of a few and the float is small in both companies. When they go they float like a feather.
The first time I owned ACKO was over 2 years ago. The stock sat dorment at 0.15 to 0.17 and when it finally went up it was an overnight move. When this stock moves its only up 10% of the time. So, I figure when the guys in control want it to move it moves and not before. I told a friend of mine who also has owned stock in both companies that I believe these companies are closely held and don't care if anyone buys the stock or not. Both are in the accumulation phase right now with shares being bought up on the quiet. Not much information is available unless you want to really dig.
Through your due diligence if you find out anything more than what I've already posted, please let me know. IMO both ACKO & ATEX are long overdue for a move. In the meantime I'm just sitting patiently & waiting. If I have to wait till X-Mas then so be it.
New Market Cap:
So, what is the new market capitalization and current shares outstanding?
I looked on subway and everythings N/A.
They haven't filled in the blanks yet.
Does anyone know?
http://www.thesubway.com/companydata.asp?qm_page=55318
I-Box Updated:
The charts have been updated to reflect the new trading symbol HTOG.
Its All About The Dollar:
They wanted to get the stock back in the $2 range again and the 1/10 R/S was the fastest way to get it there.
Green Trading Day on Friday:
I LIKE GREEN.
Had a good day of buying on Friday.
Trading volume at market close stopped at 537,330 shares.
We only need a double in share price from here and I'll be quite HAPPY!
Go Baby Go!
Yes, The World Markets Are Being Effected:
If our little OTCBB stocks can remain competitive, jump a few hurdles, avoid the land mines and keep their eye on the ball, then we will still do quite well.
Personally, as a private investor, I believe in the Water Chef Management Team.
I believe they can still do quite well in their little market niche.
I've owned this stock for a year and a half and look for another rally by the end of the year.
This summer has been slow but last summer was no different for most all OTCBB stocks.
I look for things to pick up after the Wall Street Gang gets back from vacation.
I'm still worken the deal!
The Day the Stock Markets Saw Red:
Red Thursday ... On Thursday shares had their biggest tumble since 2003.
By: Sylvia Pfeifer and Iain Dey, Sunday Telegraph
Last Updated: 3:21am BST 29/07/2007
The moment many feared and predicted finally came on Thursday, when shares took their biggest tumble since the dark days of 2003. In this series of articles, we look at what the wider knock-on effects are and find it's not all bad news...
... "There is a real bottleneck of deals that needs to be funded but I regard it as a traffic jam today. It's not as if the highway has blown up," he says.
Full Story:
http://www.telegraph.co.uk/money/main.jhtml;jsessionid=RX5XQS0JON55HQFIQMFSFFWAVCBQ0IV0?xml=/money/2....
GE Loses Taste for Sub-Prime Lending:
By David Litterick in Chicago
Last Updated: 1:58am BST 14/07/2007
Sub-prime Q&A
General Electric is getting out of the sub-prime mortgage business after one of its subsidiaries was severely burnt by the crisis playing out in the industry.
GE, which made the announcement alongside a near 10pc increase in quarterly profit, said it had charged Morgan Stanley to find a buyer for its WMC Mortgage unit which lends money to sub-prime borrowers.
Full Story:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/14/cnge114.xml
GE Bails Out of US Sub-Prime Market:
The American giant is cutting its sub-prime mortgage business adrift as the below par credit lending market worsens.
By: Dearbail Jordan
General Electric (GE), the US conglomerate, confirmed today that it is offloading its sub-prime mortgage business as American-based banks increase the number of foreclosures (or repossessions) on homeowners with a poor credit history.
GE announced the sale of WMC Mortgage Securities as part of its second quarter trading statement that revealed an increase in sales to $42.3 billion, above $39.9 billion recorded in the same period last year and above market estimates of $41.7 billion.
The conglomerate bought WMC just three years ago, and since then has reduced staff numbers by 1,200 to 700 employees due to the deteriorating sub-prime lending market as well as shearing back the amount of mortgages its grants to people with a poor credit history.
Despite the challenging market, GE money - the division that houses WMC - showed an eight per cent increase in profits during the second quarter.
GE's decision emerged as the number of foreclosures on home loans in the US leapt by 87 per cent during June, compared to the same period last year. Around 720,000 Americans are expected to be left without a house as banks repossess homes following borrowers' failure to make mortgage payments during a 90-day period.
The number of loan foreclosures in the States hit 925,987 during the first half of the year, compared to 1.25 million over the whole of 2006 and 857,000 recorded in 2005.
Full Story:
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2068285.e...
Why the Subprime Meltdown?
The subprime mortgage meltdown refers to the rash of subprime mortgage foreclosures that began in the United States in late 2006 and has continued into 2007. The sharp rise in foreclosures has caused several major subprime mortgage lenders, such as New Century Financial Corporation, to shut down or file for bankruptcy, leading to the collapse of stock prices for many in the subprime mortgage industry. The crisis is ongoing.
Observers of the meltdown have cast blame widely. Some, like Chairman of the U.S. Senate Banking Committee Chris Dodd, have highlighted the predatory practices of subprime lenders and the lack of effective government oversight. Others have charged mortgage brokers with steering borrowers to unaffordable loans, appraisers with inflating housing values, and Wall Street investors with backing subprime mortgage securities without verifying the strength of the portfolios. Borrowers have also been criticized for entering into loan agreements they could not meet.
Subprime Mortgage Lending:
Subprime mortgage loans are riskier loans in that they are made to borrowers unable to qualify under traditional, more stringent criteria due to a limited or blemished credit history. Subprime borrowers are generally defined as individuals with limited income or having FICO credit scores below 620 on a scale that ranges from 300 to 850. Subprime mortgage loans have a much higher rate of default than prime mortgage loans and are priced based on the risk assumed by the lender.
Full Story from Wikipedia:
http://en.wikipedia.org/wiki/Subprime_meltdown
Will Sub-Prime Lending Affect You?
With mortgage defaults on the rise here's what can buyers expect.
© Michael Cook
http://mortgagesloans.suite101.com/article.cfm/will_subprime_lending_affect_you
Mar 22, 2007
The real estate market has slowed significantly over the past year. Sub-prime mortgage defaults have been an early casuality of the bursting of the real estate bubble.
Sub-prime lending has exploded. With mortgage companies filing for bankruptcy almost daily, this situation has truly become dire. Many buyers and sellers are now wondering how this will affect their mortgages and property values. Unless you live in a few areas in California, there will be no affect at all.
What is Sub-prime Lending?
Higher interest rate loans made to less credit worthy tenants make up the sub-prime lending market. These loans could be 100% financed or slightly less, posing serious risk to mortgage companies in the event of default. Sub-prime lending has been around for quite sometime; however, during the real estate run up over the past five years, it's popularity swelled.
On the positive side many buyers, who would never have had the opportunity to own their own home, were able to obtain financing. These loans have contributed to the current record homeownership numbers across the United States. Additionally, many banks were able to be more lenient because of the aggressive appreciation occurring earlier this millennium. These loans naturally have a higher default rate, but the higher interest rates banks charge typically compensate for this higher risk.
What happened to the Sub-prime Lending Market?
The problem with the sub-prime lending market has been twofold. First, the slow down in appreciation has given buyers more incentive to default on their loans. With very little equity in a home, buyers that are strapped for cash are more likely to default on their loans. Additionally, these buyers are less creditworthy for a reason. Their history of default typically means they have more debt and/or less stable income. As the economy takes a negative turn these homeowners are likely to be affect negatively first.
Second, mortgage companies lowered their standards significantly. This is due in part to aggressive appreciation in home values. The other part of this equation is the competition among banks to put their money to work at higher interest rates. Many smaller mortgage brokers and banks saw the sub-prime lending market as an opportunity to increase margins. These smaller companies lacked the diversification to weather the higher than normal default levels of these loans and were completed unprepared for a negative turn around in the market.
Both of these factors have lead to the current fallout that the sub-prime lending market is experiencing now. The smaller mortgage brokers and banks that were the most aggressive in this market have filed for bankruptcy. The larger banks and brokers are taking huge write-offs and tightening their credit criteria.
How will this affect you?
Sub-prime loans only make up about 8% of the total home loan pool. Additionally, the national default level on these loans is in the high teens. This means that a little over 1% of all US loans are experiencing default due to the sub-prime fall out. This is a very small number.
This fall out will only affect you if you work for a sub-prime lender or if you are applying for a sub-prime loan. With many smaller sub-prime lenders going bankrupt, all banks have tightened their lending criteria for these loans. Some firms have simply stopped making these loans all together. Unfortunately many people who relied on these loans to become homeowners will now be locked out of this market until the dust settles, which could be at least a few years off.
Share Sale Knocks Chinese Market:
The Chinese stock market has suffered its worst day of trading in 10 years after a large wave of share selling by leading investors.
The benchmark Shanghai Composite Index fell nearly 9%, its worst daily performance since February 1997.
The fall comes amid rumours of a crackdown on illegal share offerings and trading, as well as fears about accelerating inflation.
The drop triggered falls in other markets across Asia and Europe.
In Hong Kong the Hang Seng index closed down 1.8%, while in Japan the Nikkei 225 index slid 0.5%.
Markets in London, Frankfurt and Paris also opened sharply down with leading mining stocks - whose performance is influenced by the state of the Chinese economy - under pressure.
Full Article:
http://news.bbc.co.uk/2/hi/business/6399941.stm
Doldrums for OTCBB Stocks:
Both this summer & last have been the doldrums for OTCBB Stocks.
I expect it will pick up again in September or October.
Solicitation for Moderator:
Need a volunteer to take over as Moderator and/or Assistant Moderator.
Interested party will be responsible for maintaining the I-Box to keep the charts updated.
Its an easy job since everything's already set up.
Cheers!
Please Read the I-Box Once Again:
The day each of us signed onto this board we each agreed to accept the terms and conditions as stated in the I-Box.
TERMS & CONDITIONS:
Intelligent questions are welcome but if your intentions are to disrupt the board or slam the stock you can expect your posts to be deleted.
Helpful Posts are Welcome:
I set this board up with charts so private investors can track WTER's daily progress. I am not here to police the board, that is not my job. There are other private investors who are still playing this stock and would appreciate helpful posts. Being supportive of other fellow investors is not too much to ask. I mean no disrespect to anyone. Unless you are invested in this stock maybe its best for you to post elsewhere where your time would be better spent. I appreciate your cooperation in this matter.
Potential Momentum Coming?
As an investor who bought this stock over a year ago I coulda sold several times over the past few months but didn't.
I haven't taken my eye off the ball. I've had my sights set at $1.40/share.
Will it go there? I don't know.
As far as I know Mick & I are the only ones left playing. Everyone else, I believe has already sold. If not please step forward and give us your opinion.
Take a look at the following links and tell me what you think?
Projects:
http://www.strategicresourcesltd.com/projects.php
Projects Group 1:
http://www.strategicresourcesltd.com/projects_groupe1.php
Projects Group 2:
http://www.strategicresourcesltd.com/projects_groupe2.php
Maps:
http://www.strategicresourcesltd.com/projects.php
• The Company’s exploration focus lies in Argentina given the country’s lucrative history for producing some of the world’s highest grade uranium-10% in some areas, compared to the 0.1% required for a mine to be economically viable. The current land-holdings (MAP) are in historically concentrated mining areas that have delivered considerable yields in the past and continue to show significant radiometric anomalies.
• In total, the land covers 29,950 hectares (1 hectare = 2.471 acres) throughout seven properties in the La Rioja Province. The first group of claims constitutes a major portion of previously designated government reserve and lies within a historic mining production area (MAP). The second group of claims has more recently been identified from radiometric surveys in the area. Both regions are in proximity with many of the major exploration properties of a number of Canadian junior and mid-size exploration companies’ exploration activities. The land is close to paved roads and situated in zones of moderate climate and topography.
Overview:
http://www.strategicresourcesltd.com/overview.php#
Investor Opportunity
http://www.strategicresourcesltd.com/investors.php
Currently more than 16% of the world's electricity comes from nuclear reactors
— Editors of Stock Interview
The demand for uranium is clear and very predictable. As industrialized and developing nations push toward clean alternative energy sources, nuclear energy stands apart from solar, wind and tidal energy reserves because it is vastly more economical. More than 16% of the world’s electricity comes from nuclear reactors—a total of 2400 billion kWh—equal to the total energy produced by all sources worldwide in 1960. See production and consumption chart.
At present 450 nuclear reactors operate in 31 countries (see maps of where the worlds nuclear reactors operate), consuming a total of 160 million pounds of uranium per annum. With 64 more plants are planned for the next decade (28 of which are already underway) the demand is steadily escalating. With the increasing uranium demand, the spot price has risen accordingly. In only five years it has leapt from US$7 to over US$85. See electricity generating cost projections by 2010.
Will world stock markets recover?
Stock markets around the world have fallen sharply amid worries about an economic slowdown in China and the United States.
What's going on?
Many investors are already looking for a way back in
http://news.bbc.co.uk/2/hi/business/6403483.stm
One answer could be that what we're seeing here is a bunch of stressed investors releasing a bit of steam.
Tensions have been rising for months amidst a slew of financial data, coupled with pessimistic statements by some of the world's economic tsars, who suggest the stock markets could be close to a peak.
So when shares in Shanghai dived almost 9% on Tuesday - in response to a threat of a new capital gains tax in China - investors' nerves around the world snapped.
Q: Surely there's more to it than investors' knee-jerk reactions to scant news?
Investors' instincts are well-honed and very sensitive to signs of fundamental threats to the global economy.
And recently there have been many such danger signs, most recently voiced by former US Federal Reserve chairman Alan Greenspan who said it was "possible" that the US economy would slide into recession later this year.
Traders tend to say that when America sneezes the world catches a cold, so a downturn in the US could well bring about economic weakness across the globe.
And a global downturn would do little for the health of the companies that are listed on the world's stock exchanges.
Q: So is this the beginning of the end? Will the markets keep on sliding as the global economy plunges into recession?
This is largely about the issue of upside potential versus downside risk - or more bluntly, about greed versus fear.
When investors think the markets are close to peaking they see little reason to buy shares since there is very little potential for their value to grow.
If at the same time they are concerned about the general state of the world economy, then there is a great risk that the value of shares could fall to reflect weaker earnings by companies operating in a depressed business environment.
But beyond concerns about any actual shifts in the real economy, investors are also wary of sudden government intervention, and this is where China has been playing a key role lately.
The Chinese economy is growing at breakneck speed, which has made the country's authorities very aware of the fact that although growth may be good, too much of it can be dangerous.
China is eager to put a lid on this growth and has already begun imposing austerity measures to prevent costs and prices from galloping out of control.
Capital gains taxes would be a step too far for most investors, though, hence the markets' strong reaction on Tuesday.
But surely, China's desire for orderly and controlled economic growth would serve the interests of investors as well?
To an extent this is absolutely true, since many investors tend to value regulatory stability.
And given that we are already hearing a lot of pleasant noises from market observers around the world, there is plenty of scope for optimism.
In China, shares have already bounced back, having recorded a near 4% rise on Wednesday.
The turning point came when China's tax authorities vowed not to introduce the rumoured capital gains tax after all, which along with assurances by analysts that Tuesday's wobble was not indicative of any fundamental weakness in China's economy, went a long way to mollify investors.
In other words, investors might soon return and the markets should thus start rising again?
This is what many industry observers predict. They see the latest dip in stock market valuations as a correction in a bull market: in other words, they predict that the slide will soon come to a halt before the markets resume their lengthy climb.
Exactly when this would happen is anybody's guess, though. It could take weeks rather than days before traders have calmed down sufficiently to roll up their sleeves and get back in there.
Will world stock markets recover?
Stock markets around the world have fallen sharply amid worries about an economic slowdown in China and the United States.
What's going on?
Many investors are already looking for a way back in
http://news.bbc.co.uk/2/hi/business/6403483.stm
One answer could be that what we're seeing here is a bunch of stressed investors releasing a bit of steam.
Tensions have been rising for months amidst a slew of financial data, coupled with pessimistic statements by some of the world's economic tsars, who suggest the stock markets could be close to a peak.
So when shares in Shanghai dived almost 9% on Tuesday - in response to a threat of a new capital gains tax in China - investors' nerves around the world snapped.
Q: Surely there's more to it than investors' knee-jerk reactions to scant news?
Investors' instincts are well-honed and very sensitive to signs of fundamental threats to the global economy.
And recently there have been many such danger signs, most recently voiced by former US Federal Reserve chairman Alan Greenspan who said it was "possible" that the US economy would slide into recession later this year.
Traders tend to say that when America sneezes the world catches a cold, so a downturn in the US could well bring about economic weakness across the globe.
And a global downturn would do little for the health of the companies that are listed on the world's stock exchanges.
Q: So is this the beginning of the end? Will the markets keep on sliding as the global economy plunges into recession?
This is largely about the issue of upside potential versus downside risk - or more bluntly, about greed versus fear.
When investors think the markets are close to peaking they see little reason to buy shares since there is very little potential for their value to grow.
If at the same time they are concerned about the general state of the world economy, then there is a great risk that the value of shares could fall to reflect weaker earnings by companies operating in a depressed business environment.
But beyond concerns about any actual shifts in the real economy, investors are also wary of sudden government intervention, and this is where China has been playing a key role lately.
The Chinese economy is growing at breakneck speed, which has made the country's authorities very aware of the fact that although growth may be good, too much of it can be dangerous.
China is eager to put a lid on this growth and has already begun imposing austerity measures to prevent costs and prices from galloping out of control.
Capital gains taxes would be a step too far for most investors, though, hence the markets' strong reaction on Tuesday.
But surely, China's desire for orderly and controlled economic growth would serve the interests of investors as well?
To an extent this is absolutely true, since many investors tend to value regulatory stability.
And given that we are already hearing a lot of pleasant noises from market observers around the world, there is plenty of scope for optimism.
In China, shares have already bounced back, having recorded a near 4% rise on Wednesday.
The turning point came when China's tax authorities vowed not to introduce the rumoured capital gains tax after all, which along with assurances by analysts that Tuesday's wobble was not indicative of any fundamental weakness in China's economy, went a long way to mollify investors.
In other words, investors might soon return and the markets should thus start rising again?
This is what many industry observers predict. They see the latest dip in stock market valuations as a correction in a bull market: in other words, they predict that the slide will soon come to a halt before the markets resume their lengthy climb.
Exactly when this would happen is anybody's guess, though. It could take weeks rather than days before traders have calmed down sufficiently to roll up their sleeves and get back in there.
Found New Chart, check it out!
New Intraday Chart
This Stock Must Be Good!
Mick, you've found a respectable bunch of investors to hang out with.
Fratboy and I worked together earlier this year.
I'm gonna bookmark this site right now.
She's now on the radar.
Talk to you guys later.
Cheers!
I also know Fratboy's a car enthusiast, this one looks like a modified Formula 1 Smartcar!