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Kerry, who to this point had been working hard to maintain a relentlessly upbeat and non-negative tone, saw the writing on the wall. "
Just too funny. You mean like the moveon ads thsat compared bush to hitler???
Or the follow up on that same topic by gore who spoke about "digital brownshirts"
How about michael moores diatribe/fantasy/documantary full of lies and twisted half truths?
The demo 527 orgs have spent over 60 million attempting to trash bush and yet bush hasn't run to the fec or whined to kerry to try and make it all go away.
There are refutations for all the points you bring up, but I don't to do a he said/he said. I notice that you don't comment on the Crristmas in cambodia fantasy that kerry has been forced to admit was a lie, even though it was seared, seared into his memory.
you also don't mention the second ad that is strictly quoting from his own words about how he turned on his fellow vets because it was politically advantwageous for hin to do so at the time.
Talk about a snake turning around to bite- this is all karma that keryy is paying for his past unethical behavior. Kerry says vot ro me now because I was a Vietnam vet, neglecting the part about where he trashed the vets after coming home after 4 months there
Fed just added snother 9.25 in overnights. Of the 11 expiring, 7 were 14 day, and 3.5 were overnights.
Net result for today is a BIG pump
eddy
Wonder if they're adding so large with a bad jobs # tomorrow in mind?
alternative to the UN??
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Mr. Multilateral
By Bryan Preston Published 07/29/2004
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TCS
It is playing a key role in curbing and caging North Korean dictator Kim Jong-Il. It played a key role in disarming Libya, discovering and rolling up the Pakistani A.Q. Khan nuclear smuggling network, and has become a framework for international military and police exercises organized by the United States. Its membership includes most of the world's largest economic powers, most of the world's largest military powers, and most of the most influential states on earth. The United States, Japan, the United Kingdom, Russia, the Netherlands, France, Australia and Germany are among its 15 member states, and it is one of the pillars of the Bush administration's strategy to both win the war on terrorism and halt the proliferation of weapons of mass destruction. As an organization set up to perform a mission that the United Nations and the International Atomic Energy Agency have jointly failed, halting the spread of nuclear weapons, it has the potential of becoming an alternative to the UN itself in coming decades. Notably, all of its members to date are democracies.
But thanks to the media and Democrats who insist on portraying the Bush administration as "unilateral," you have probably never heard of it.
Called the Proliferation Security Initiative, this results-oriented alliance is now just over a year old. The work of the much maligned Under Secretary of State for Arms Proliferation and International Security John Bolton, PSI is already a great success in bringing nations that disagreed bitterly over the Iraq war together under one flag to deal with larger weapons proliferation issues, especially those relating to the Korean Peninsula.
How It Works
The PSI is a bit of a strange bird, neither pure military alliance nor economic consortium nor intelligence agency, though it bears some of the features of all three. There is no guarantee among PSI members to come to the defense of any other member attacked by another party, for instance, such as exists in the NATO charter. It has no operating budget or swank headquarters building, and no jet-setting General Secretary or Supreme Commander. But most of the world's great navies -- America's, the UK's, Japan's, Australia's, and Russia's all play key roles. Many of the world's best intelligence assets, from spy satellites to human intelligence sources to financial investigators, are devoted to working with the PSI at some level.
What those navies do under the PSI is track and board ships suspected of trafficking in weapons of mass destruction, the components or systems to build such weapons, and any parts or materials associated with such weapons, with a focus on nuclear weapons in particular. The PSI's naval power may also have played a key role in the mass defection last fall of a swath of North Korean nuclear scientists who abandoned Pyongyang's backward Stalinist regime and have been providing the West with details of Kim's nuclear programs since. The details of that maneuver, dubbed Operation Weasel, have been understandably kept closely guarded for nearly a year.
PSI's role in the disarmament of Libya has been poorly explained by the Bush administration and therefore poorly understood by the American public, with the media playing an assisting role in fostering ignorance.
Intelligence gathered mostly by the US and UK last summer indicated that North Korea was shipping a large amount of nuclear weapons manufacturing gear -- centrifuge parts to be exact -- to Libya via several ships. Acting on that information, US and UK warships stopped, boarded and seized those ships, discovering the expected gear on board. Confronted with those findings and the recently successful military operation to depose Saddam Hussein in Iraq -- and undoubtedly mindful of his own unhappy experiences with President Ronald Reagan in the 1980s -- Libya's dictator, Col. Muammar Ghaddafi, who had connections to terrorists going back a few decades, decided it was no longer healthy to pursue nuclear weapons.
His dismantled nuclear program recently arrived in 48 very large crates at Department of Energy facility in Oak Ridge Tennessee. More such crates are on the way; soon the entire Libyan nuclear program will be in US possession. Energy Secretary Spencer Abraham told reporters that Libya had possessed 4,000 centrifuges and enough uranium hexafluoride gas to begin manufacturing several nuclear weapons per year. In the hands of a dictator with dreams of revenge against America, or in the hands of terrorists allied to or cooperating with such a dictator, those weapons could have made Libya's the most dangerous regime on earth. Now it is turning into a witness for the prosecution, helping finger the Khan network and explaining the North Korean and Chinese roles in the spread of nuclear technology to rogue states. And the PSI -- a multilateral creation of the "unilateral" Bush administration -- played a key role, though it garnered few headlines and will probably garner just as few headlines in the future.
A Sister Organization: The Caspian Guard
The "unilateralist" Bush administration is also setting up a sister organization to the PSI called Caspian Guard. Caspian Guard is ostensibly a three-way alliance between the United States, Azerbaijan and Kazakhstan for the integration of several interlocking program elements, namely airspace and maritime surveillance and control systems, reaction and response forces, and border control.
What might be Caspian Guard's deeper mission? Take a look at a couple of maps, one of Azerbaijan's neighborhood and one of Kazakhstan's. What do they have in common? Both are central Asian states with coasts on the Caspian Sea, and both either share a border with or are across the water from Iran. Caspian Guard is to Iran what the PSI is to North Korea -- a cage in the making, constructed by the Bush administration's State Department. Look for several other US-leaning states in the area, such as Uzbekistan and Turkmenistan, and possibly even Turkey, to either join the Caspian Guard or cooperate with it in significant ways. The US will begin to encircle Iran, the world's most dangerous remaining Islamic state, the way it is attempting to encircle North Korea, all to strangle their nuclear proliferation programs and over time halt their nuclear programs altogether. Additionally, Caspian Guard gives member states access to US training and tactical knowledge and the assurance of friendly relations with the world's sole superpower in exchange for assistance in dealing with some of the axis of evil's charter members.
For all the abuse that the Bush administration receives for its conduct of the war on terrorism, the Proliferation Security Initiative and Caspian Guard stand as examples of the other side of the war as conducted by a serious administration that knows we are all in for a long twilight struggle. Only by removing or intimidating terror-sponsoring states into renouncing terrorism, and only by stopping the spread of nuclear and other mass killing technology in its tracks, can the free world hope to win this war without incredible loss of life. Bush administration critics and the media -- often one and the same -- consistently fail to take the existence of the PSI and its start-up sister Caspian Guard into account when assessing how we are doing in the war. The existence of these organizations indicate that for all the squabbling over Iraq, most of the world's major powers do regard terrorism and weapons proliferation as serious conjoined threats, and are willing to band together to do something about it. And they are willing to be led by the unilateral cowboy from Texas who defied several of them to topple Saddam Hussein.
Bryan Preston is a writer and television producer. He is also the author of Junkyardblog. This is his first article for TCS.
When you also factor in the rampant naked shorting, is it any wonder why the retail investor active trader isn't trading with the volume that they did previously.
DAn Norcini on the long bond:
Long Bond – Down and Out for the Count or Rope-a-Dope?
With the DOW Industrials breaching the psychologically important 10,000 level to the downside in a convincing fashion this morning, suddenly Sir Alan the Optimist is looking like he has enough egg on his face to make not one, not two, but three omelets. Something is obviously wrong in the la-la land he has been describing. It seems that the market is simply not buying his upbeat assessment of the U.S. economy.
What I find particularly interesting to observe in the midst of this morning’s action is the complete and total disconnect taking place between the commentary coming down the wire feeds, the actual market behavior and the continuing breakdown in normal market interrelationships that we have come to know. Let me explain.
Without an exception, every major news feed story has explained the current rally in the U.S. Dollar as the result of continued spillover from Greenspan’s rather glowing assessment of the U.S. economy and his talk about responding to any potential inflation threat in an appropriate matter. Supposedly players interpreted that to mean that the Fed was signaling that it plans steady increases in the fed funds rate. All of these wire stories mention how the treasury market has now anticipated a series of 4 consecutive 25 basis point hikes over the course of the next four FOMC meetings which would bring it to 2.25%. The consensus one gleans from these stories is that short term rates are most definitely headed higher - This of course is being interpreted by novices to the Forex arena as being bullish for the dollar.
The only problem is that no one seems to have mentioned this to players of the long bond. As I write this piece, the long bond is currently tracking upward with the results that long term yields are GOING DOWN. The result is that the yield curve is flattening out as long term rates are heading down while short term rates are supposedly in the process of heading up. What gives?
I believe the answer is that we are witnessing something that is going to make life interesting for the bond market over the next few months. As stocks begin to swoon in earnest, money is going to come out of stocks and back into bonds reinstituting the "safe haven" play that we have not seen in some time. Investors are getting nervous, Greenspan or no Greenspan, and are unloading stocks in favor of bonds. As they do so, bonds are getting a bid beneath the market which is pushing them up and having the effect of lowering yields on the long end.
That effect is being offset by the fears of those holding U.S. debt who are alarmed at what they see taking place in regards to the massive U.S. trade and current account deficits as well as ballooning federal budget deficit. These same investors are watching the price of oil continuing to defy gravity and refusing to come back to levels where the "experts" have told them it will be trading. Everything that they see tells them that inflationary pressures are building in the U.S. and the value of their dollar-denominated paper is at risk. They are getting the heck out of Dodge and are selling their bonds. And why shouldn’t they? How would you like to be stuck with a yield of a bit over 5% for the next 30 years while inflation is eroding that faster than you can say "oligopoly"?
The tug of war between these two factions is going to add incredible volatility in the bond market until this standoff gets resolved one way or the other. Just when one expects the long bond to finally swoon and long term rates begin their relentless rise, suddenly it reverses to the upside, apparently not down and out for the count but playing a game of rope-a-dope with bond pitsters. Needless to say, this cannot go on forever.
I am of the opinion that eventually, the long bond is going to break down and rates will begin to move up in earnest. Since the dollar rally is nothing more than a dead cat bounce, it is going to fade as soon as the short covering behind it abates. Once that occurs and the dollar resumes it downward trend and breaks support, foreign holders of bonds are going to begin selling them in earnest. The Fed will have to react to keep the dollar descent from spiraling out of control and will be forced to hike rates on the short end. At that time, I believe we will witness both stocks and bonds moving downward in tandem while gold will get its legs underneath it and move sharply upward. The great bull move in gold will then commence in earnest as players flee paper of all national denomination in earnest for the security of the precious metals.
In the meantime, all of this is simply "noise" requiring patience.
Dan Norcini
July 23, 2004
Just curious that this information is released the day before earnings
What about the ipod battery problems?
Merrill Lynch-MER reports Q2 eps of $1.06 below analysts est of $1.09
Reports Q2 revenue of $5.3B below analysts est of $5.71B
Jim
Excuse me if you've answered this previously, but what factors do you monitor in your momentum cycles?
thanks
Dan Noricini on gold and the euro:
The Effectiveness of Gold Price Capping as it relates to the Euro
Within the gold community, there are many who have been patiently waiting for gold to launch substantially higher. More often than not, they have been frustrated with Gold’s apparent lethargic response to various stimuli. One possible explanation as to this somewhat moribund behavior lies in observing the effect of governmental manipulation of the price as it concerns gold in Euro denominated terms. Consider that we are talking about nearly 1/3 of the world’s investors and it does not take much stretch of the imagination to realize that whatever effect intervention might produce, if it manages to constrain investment demand from that portion of the world, it bears examination.
I would like to briefly demonstrate for some of the newer members of the Café, in combination of both graphical and written format, the effectiveness of official intervention to cap the price of Gold in Euro denominated terms. When I am through, I believe that they will better understand why gold has too often seemed to run out of steam just as it appeared that it was ready to launch into a new trading level.
There are two charts included in this essay that you will want to refer to. The first is a chart of the Euro currency; the second is Gold in Euro denominated terms.
If you will first observe the Euro currency chart you will see the various annotations I have made. Let’s start at the first peak made in early January of this year ( a side note here – I am going to be giving rough prices for gold and not exact prices to keep things simpler and make for a quicker comparison). There we can see that the Euro topped out closing at a price of 1.2818. At the same time, Gold was trading in dollar terms near $430. After a brief setback lasting about a month, the Euro rallied back up as did gold. However, gold was capped by the cartel near the $420 region even though the Euro actually closed slighter higher at 1.2828 exceeding its previous high close. The cartel had managed to knock $10 off the gold price even with the Euro trading at the same level of the prior month. In other words, even though the dollar was falling, gold was not moving up at the same rate of ascent as the previous month.
Fast forward to early April of this year - Gold had managed to rally back up to the $430 region once again. This time however the Euro was trading at 1.2327. What makes this so significant is that the price of Gold was moving higher even as the U. S. Dollar Index was moving up off its lows near 85 and closing in on the 90 region. Gold was actually ignoring the stronger dollar and heading up right along with it. (At this point, please refer to the EuroGold chart in Dark Blue with the price pattern shown in yellow where you can see the gold price rallying sharply in Euro terms during this time frame). As the Euro dropped against the dollar, Gold became more expensive for Europeans to own. The result was that Gold was rising in Euro terms and had reached levels not seen since February 2003. It appeared Gold was headed for an upside breakout on the Euro charts as the two year high at 351.51 was within easy striking distance. This was obviously a “no-no” for the powers that be. If Gold were to smash through the 351 Euro region, European-based hedge funds would be all over the precious metal entering the market with a fury. Enter the gold cartel. They savaged the yellow metal running it into preset fund stop-loss sell orders with the result that it was knocked down some $60 off its peak before it found support above $370 a month later in early May. Sure enough, this occurred at the same time the Euro hit bottom just above the 1.18 level.
Here’s where things get dicey however. Over the next two months, the Euro managed to completely recapture the levels it had been trading at in April this year. It is now back near the 1.238 region. Yet Gold, which according to the general consensus is supposed to be trading in lock step with the Dollar, has been held below $410 – fully $20 lower than it had been a mere three months previous. Recall from looking at the Euro currency chart that the last time the Euro was at this level, Gold was trading at $430. What this indicates is that even on days in which the Dollar was trading lower and the Euro higher by consequence, Gold was not allowed to rally. Someone or some entity was sitting on it squashing its attempt to follow the Euro up. It appears the main culprit this time around has been Goldman Sachs according to Bill Murphy’s reliable sources. While this may appear to be of no consequence to many gold investors or traders, the implications to Europeans are enormous.
Look at the chart of Gold in Euro denominated terms. Please notice the dashed vertical lines. The first one is drawn through January 2, 2003; the second one is drawn through January 2, 2004. The Euro price of Gold on the former date was 329.942; the price on the latter date at the beginning of this year was 329.433. The price as of today’s date is 328.379. In short, the price capping in Gold was been so effective that for the last 1 ½ years, Gold in Euro terms has gained absolutely nothing! Any investor from Europe who bought the precious metal to hold it has made zero return on it for this entire period. As a matter of fact, as of today’s date, July 9, 2004, he has actually lost money. Think about that again! As a result of U.S. government intervention through their proxies at Goldman Sachs, J. P. Morgan, etc., European holders of gold have been denied any benefit that would have accrued to them. What is even worse is if we allow for that same investor to have bought Gold as far back as January of 2002 and have held it. It is still trading today at the exact same level! That is more than 2 ½ years of marking time and making zip. Is it any wonder that European investors simply yawn when hearing talk of Gold? At this point, many of them are no doubt looking at a bond with a one year rate of 2% as exciting. Could this be one of the reasons we continue to hear talk out of European Central Banks “threatening” to sell gold and put the proceeds from the sale into interest bearing instruments? Perhaps – whatever their motivation, the fact is that while we Americans have been thrilled with the returns we have made on our gold since 2002, 1/3 of the world’s investors are not. That is a significant source of investment demand that has been effectively sidelined for some time now. Tell me that the gold cartel is not well aware of what they are doing. The Gold market needs that kind of extra demand coming out of Europe to push Gold into the type of meteoric rise that many of us who are gold bulls want to see take place.
What we will need to see for them sing a different tune is for gold to once again head back up towards the 351.50 region in Euro terms and smash through it. That is going to take a rate of increase in the price of Gold that exceeds the rate of decrease in the price of the Dollar. Remember, a falling Dollar tends to make gold cheaper for foreign currency holders, not more expensive, since Gold is priced in U.S. Dollar terms on the international market. For example – if the gold price were to hold steady at $408 for the next two weeks while the Dollar fell in value, the same number of Euros would buy MORE ounces of gold. We do not want to see the Euro price of Gold getting cheaper; we want to see it going up! After all, that is the definition of a bull market – rising prices. If the Dollar continues to fall vis-à-vis the Euro, and Gold does not rise at a faster clip than that fall, in Euro terms, Gold is not going to be able to break through its resistance. At some point therefore, Gold is going to have to break away somewhat from following the Dollar’s gyrations and begin to trade on its own merit to get the Europeans involved in a larger way. For that matter, the same can be said of many of the Asians as well (The YenGold chart is more bullish than the EuroGold but still has not produced an upside breakout either).
Please do not misconstrue what I am saying – Gold is the “anti-Dollar” and the ultimate store of value. As thus, its fortune will always be tied to the Dollar since that is its main competitor. Nonetheless, a time must come when Gold will have to divorce itself from watching the day to day meanderings of the Dollar and assert its own independent strength. Given the current structural problems inherent in our economy, I believe that day is fast approaching. I am not sure exactly what the trigger mechanism will be, (take your pick- there are any number of them given the current fundamentals), but on that day we should see a sharp acceleration to the upside as Gold takes out the upside resistance in place on the EuroGold chart. Sadly, it will more than likely be the kind of news that is not going to be pleasant to hear as it will portend very tumultuous times ahead.
Dan Norcini
July 9, 2004
The Fed adde 4.5B in overnights. Don't they customarily refrain from pumping the day of their meeting??
PS what is that burning smell?- Could it be that the SAWX are toast???
eddy
Music dlownloading is a loss leader- used as a lead in to hardware sales- they will never make big money on downloading. especially with walmart entering the market
fed,
there was the coupon pass of 1.69B that funded today also, but stll a big drain- no rocket fuel for the "rally"
Mflutie, could you send me an email address where I could reach you with questions about your system? I don't have private reply access on this site
thanks
great call
mflutie- are you still in CALM?- think it will bounce even with the new offering?
calm just came out and said they're issuing 4 million more shares- traing around 29
sspi has been a short target for a long time- reaction to news is always exaggerated. the end of naked shorting might have something to do with it also
thanks,
pared out of some- will hold the majority of shares I have
Hey Bear,
Check out the "crap" stock SSPI this am after another contract win
SSPI is far from crap- they are well situated in the software defined radio area that will be very big in the future. Who's playing board cop now????
please send to ihub email
thanks
where can I get the details?
Your system is for sale?
added 4 in overnights- makes 1.25 pump for the day
That image is one of the all time film greats
Asensio noted short sellers. They have been a contrary indicator recently. Keep slamming mgam- everytime they post a slam, the stock rockets
Or at the least make the fine equal to or greater than the amount they managed to make through their dirty dealing. If not, it's just a slap on the wrist- the cost of doing business- and on the the new scheme to fleece the retail ionvestor.
With all the hoopla over the Spitzer actions, what has really been accomplished. The money collected in fines goes to the attorney generals office and the harmed parties aren't made whole
Yes,
The absolute height of hypocrosy
Greenspan on Japanese bank dollar purchases- should be interesting to see what the USD does tomorrow
Greenspan Warns on Asian Bank Buying
14 minutes ago Add Business - Reuters to My Yahoo!
By Victoria Thieberger
NEW YORK (Reuters) - Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) on Tuesday issued his strongest warning yet about Asian central bank purchases of U.S. assets, saying it could raise problems for the economies of China and Japan.
Reuters Photo
AFP
Slideshow: Greenspan & The Federal Reserve
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He said "extraordinary" Asian central bank buying of dollar assets had totaled almost $240 billion since the start of 2002, describing the size of Japan's purchases as "awesome."
The central banks of China and Japan have been heavy buyers of U.S. assets to park the proceeds from selling their own currencies to try to prevent them from rising against the dollar and so hurting their exports.
"The current performance of the Japanese economy suggests that we are getting closer to the point where continued intervention at the present scale will no longer meet the monetary policy needs of Japan," Greenspan told the Economic Club of New York.
Japan's top government spokesman, Yasuo Fukuda, said in Tokyo later that he did not regard the Fed chief's comments as criticism and that Tokyo would continue to act appropriately when there were sharp exchange-rate swings.
To finance this intervention, the central banks are essentially printing money which then floods their domestic economies, threatening inflation, Greenspan suggested.
Japanese monetary authorities bought almost $100 billion in January and February in their efforts to prevent the yen from rising rapidly and damaging the nation's export-led recovery.
Much of the money has found its way into U.S. Treasuries, and is widely thought to be supporting the U.S. bond market and keeping yields lower than they would otherwise be.
Analysts said that if the central banks did slow or stop their buying, this could push U.S. rates higher and lift borrowing costs for U.S. businesses and consumers.
As for China, Greenspan warned that the Chinese central bank's large purchases of U.S. dollars to keep the yuan in a close band pegged to the dollar could threaten an "overheating of the Chinese economy."
TOKYO RECKONING NEAR
Greenspan has referred to Asian central bank buying in other appearances over the past month, but his comments about Japan seemed unusually explicit.
The Fed chief said it seemed likely that Tokyo's rate of accumulation of dollar assets "will have to slow at some point and eventually cease" once the current situation of declining prices, or deflation, is past.
"He told the market something a little bit new, that Japan's getting closer to the point where intervention would not fit with the monetary policy goals of the country," said Alan Ruskin, research director at 4Cast Ltd.
The Fed chief acknowledged concerns that less buying of U.S. Treasury securities could put upward pressure on U.S. interest rates but played down those fears.
"While there are obvious reasons to be concerned about such an outcome, the effect of a reduction in the scale of intervention, or even net sales, on U.S. financial markets would likely be small," Greenspan said.
That is a view that some in the Treasury market dispute, because of the scale of foreign central bank buying.
Greenspan also played down worries that a narrowing of the yawning U.S. current account deficit would result in a crisis for markets, saying the declining dollar would help curb the trade gap over time.
"The currency depreciation that we have experienced of late should eventually help to contain our current account deficit as foreign producers export less to the United States," he said.
He noted foreigners' claims on the United States represented by the U.S. current account imbalance have grown markedly and that it was hard to say when that will slow or even reverse, "but it is evident that the greater the degree of international flexibility, the less risk of a crisis."
LOW FOR A REASON
Asked about U.S. interest rates, Greenspan repeated that the federal funds rate, now at a 1958 low of 1 percent, had been kept low for "very good reasons" but must rise eventually.
"The Federal Funds rate is accommodative and at some point it will have to rise back to a more neutral state, because it is inconsistent with general long-term stability," he said.
Greenspan was asked about the U.S. central bank's performance during the 1990s -- a period for which it has been retroactively blamed because it did not push interest rates up enough to curb a stock-market bubble that eventually burst.
The Fed chief seemed to back away a little from his previous defense of the Fed's actions, saying he has concluded "tentatively" the Fed did the right thing but it might be five or 10 years before the answer was known, (Additional reporting by Glenn Somerville)
Fed,
Where did you get that- It's not showing up on my fed site
thanks
eddy
OT Sox owner Henry crying for a salary cap
Lucchino trying to get selig to veto the trade
PITIFUL
Hey,
The sox had the deal done, but tried to nickel and dime the rangers and blew it plain and simple. This has to hurt big time- look at the ripple effects- having to deal with nomar and to a lesser extent manny( on second thought does manny really know where he is anyway???)
Word on the radio now is that they tried again at the last minute after they heard about the yankee deal- pitiful, just pitiful- bambino redux
yes, 4 trades above 7- said "filtered from chart" ,not sure what that means
Kerry coming out of the closet
Great picture. Might be more appropriate if the head was located on the other end
eddy
Fed,
Just been wondering how the market has managed to maintain given the constant slide in money supply and the very low level now of the fed repo pool- I think it's at 14 billion now- the lowest I can recall in a while.
Any thoughts?
eddy
Surprising considering ricin scare- felt sure he would pump given the drain last few days
this was yesterdays news:
Our-Street.com: Our-Street.com files complaint with SEC against US Global
Nanospace, Inc.
Midland, Texas, Jan 28, 2004 (M2 PRESSWIRE via COMTEX) -- Our-Street.com, an Internet-based, public company watchdog, announced today that it has filed a complaint with the Enforcement Division of the Securities and Exchange Commission against US Global Nanospace, Inc. (OTC BB: USGA). The complaint alleges possible violations of Sections 10b-5, and 13a of the Exchange Act. The complaint can be read in its entirety at http://www.our-street.com/featured.htm
Our-Street.com is an internet based public company watchdog that researches companies and files and publishes reports and complaints with various regulatory agencies. Previously, Our-Street.com`s complaint against Aqua Vie Beverage Corporation (OTC BB: AQVB) was followed by a suspension in trading by the SEC and their complaints against Kingdom Ventures, Inc (OTC BB: KDMV) and Epixtar Corp. (OTC BB: EPXR) were followed by the companies` disclosure of investigations being initiated by the SEC and FTC respectively. Epixtar just announced yet another second action was started against it by the FTC. Most recently, Our-Street.com`s latest featured company, Calypte Biomedical (OTC BB: CYPT), also disclosed it was informed by the SEC that an informal inquiry had been initiated regarding their activities as well.
Note: Our-street.com is not a financial or investment advisor and is not offering stock for sale or giving investment advice. For investment advice contact a non-conflicted registered investment advisor or non-conflicted broker. The best place to get information about a company is from the SEC.
Specific information about US Global Nanospace can be gotten by using this link: http://www.sec.gov/cgi-bin/browse-edgar?company=us+global+nanospace&CIK= &filenum =&State=&SIC=&owner=include&action=getcompany
Our-Street.com and/or their associates do not have a position in USGA.
Our-Street.com has not been paid or compensated in any way to conduct the research and file this complaint. Our-Street.com is member supported by subscriptions but members do not choose which companies Our-Street.com selects to profile. For more information refer to our disclaimer at www.our-street.com/disclaimer.htm . Our-Street.com strives to be accurate and will promptly correct any errors in posted information. Simply email us with any corrections along with documentation.
CONTACT: Nick Tracy Enterprises, Ltd. Tel: +44 (0)20 790 02080 Fax: +1 425 740 0645 e-mail: info@our-street.com WWW: http://www.our-street.com
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
(C)1994-2004 M2 COMMUNICATIONS LTD
-0-
companies response today:
SEC Confirms No Complaint Released Against US Global Nanospace
CARSON CITY, NV, Jan. 28, 2004 (MARKET WIRE via COMTEX) -- US Global Nanospace, Inc. (OTC BB: USGA) has been advised that an alleged complaint filed by the SEC has been posted on a web site located at www.our-street.com hosted by Nick Tracy Enterprises. USGA has not been notified of any action filed by the SEC and the SEC has confirmed to the Company's counsel that no such complaint has been released.
"The SEC has not served a complaint on US Global Nanospace," said John Robinson, the President of the Company. Mr. Robinson continued, "The alleged SEC Complaint posted on the our-street.com website is completely false and, in our opinion, it was done for the purpose of manipulating the price of our stock for financial gain. We forwarded the information that was posted on the website to the SEC and intend to ask the SEC to launch a formal investigation into this organization. We have also contacted our legal counsel regarding this matter."
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