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Fed.(1)2) 1day RP + 6.00B
=====
This repo operation has 1 collateral tranche
Fed.(2) 1day Foward 28day + 20.00B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed.(1)2) 1day RP + 6.00B
=====
This repo operation has 1 collateral tranche
Fed.(2) 1day Foward 28day + 20.00B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Brazil Oil Trapped by 500-Degree Heat, Salt Barrier (Update2)
By Joe Carroll
April 28 (Bloomberg) -- Brazil's plan to become one of the world's biggest oil exporters hinges on exploiting crude 6 miles below the ocean surface in deposits so hot they can melt the metal used to carry uranium to nuclear plants.
Tapping what may be the biggest oil finds in the Western Hemisphere in three decades will require equipment that can withstand 18,000 pounds per square inch of pressure, enough to crush a pickup truck, pipes that can carry oil at temperatures above 500 degrees Fahrenheit (260 Celsius) and drill bits that can penetrate layers of salt more than one mile thick.
Petroleo Brasileiro SA, the state-controlled oil company, is betting on the Tupi and Carioca fields to become one of the world's seven biggest crude exporters. Until the tools needed to exploit the reservoirs are invented, the crude will remain locked under the sea, said Matt Cline, a U.S. Energy Department economist.
``This is a very, very technically challenging environment where no one's ever done this,'' Cline, who tracks the Latin American oil industry, said in a telephone interview from Washington. ``These discoveries are in very deep water, and once you get to the seabed they are very deep under the floor, with a layer of salt that is definitely a difficult barrier.''
Brazil's oil will be harder to develop than the Gulf of Mexico, where the deepest wells are now in production, Cline said. Exxon Mobil Corp. and Chevron Corp., the two biggest U.S. oil companies, saw diamond-crusted drill bits disintegrate and steel pipes crumple when they attempted to tap deposits beneath the Gulf's seafloor two years ago.
Uncharted Depth
Pumping oil from the Brazilian finds, parts of which are 32,000 feet (10,000 meters) below the ocean's surface, will require boring almost twice as far down as the world's deepest producing offshore well.
The obstacles will discourage development unless crude prices stay high, said Tina Vital, an analyst at Standard & Poor's in New York. U.S. oil futures, which reached a record at $119.93 a barrel in after-hours electronic trading yesterday, have jumped 81 percent in the past year.
Engineers will have to overcome temperatures that range from near freezing above the ocean floor to temperatures that can melt bismuth, used for transporting uranium rods and for shotgun shells. Layers of salt will also increase the challenge because the crystals absorb seismic waves used to pinpoint oil deposits.
Seismic Issue
``The seismic issue is important because if you don't identify the location of the oil properly, you're going to waste a lot of money when you drill the hole in the wrong spot,'' said Vital, a former Exxon engineer.
Brazil pumped 2.13 million barrels of oil a day in the last three months of 2007, more than OPEC members Angola, Libya and Algeria.
Tupi, 155 miles (250 kilometers) off Brazil's coast, may begin production by 2012, according to consulting firm Strategic Forecasting in Austin, Texas. The field may have 8 billion barrels of recoverable oil.
No start date has been set for Carioca, which Petroleo Brasileiro said will take at least three months to evaluate. A Brazilian regulator said this month the reservoir may have 33 billion barrels.
If confirmed by further drilling, the reserves will be triple the size of Alaska's Prudhoe Bay, the largest U.S. field.
Record Depth
The ocean-depth record for production was set last year by Anadarko Petroleum Corp. The company is extracting natural gas from beneath 8,960 feet of water in the Gulf of Mexico, where pressure measures 3,069 pounds per square inch, squeezing joints and tearing at seals.
``What we do at that water depth in the ocean is similar to NASA's space program, but they get to do it without any pressure trying to attack them,'' Kevin Renfro, production engineering manager at Woodlands, Texas-based Anadarko, said in a November interview.
Petrobras hasn't said how much it spent to sink wells at Tupi and Carioca. Similar drilling by Exxon and Chevron Corp. in the Gulf of Mexico cost $180 million to $200 million for each well.
``A big find might not be a good find if it costs so much to develop that it's not commercially viable,'' S&P's Vital said. ``We don't have any idea at all yet of all the costs that are going to be involved. Those costs are going to set the floor for oil prices.''
$50,000 Drill Bits
Chevron, which has the deepest Gulf of Mexico exploration well, including distance below the seafloor, destroyed as many as a dozen $50,000 drill bits at each of the 14 wells in its $4.7 billion Tahiti project.
Exxon Mobil abandoned a Gulf project that would have been the deepest well after pressure and heat shut down the venture in August 2006. The Irving, Texas-based company developed pipes tough enough to withstand temperatures that would shatter regular steel at its Sakhalin-1 project in Russia. The metal may help make Brazil's offshore fields accessible, Vital said.
``These challenges in the Brazilian offshore area are too great for any one company or even country to be able to digest themselves,'' Vital said.
To contact the reporter on this story: Joe Carroll in Chicago at jcarroll8@bloomberg.net.
Fed. 4day RP + 8.25B [net Giveth + 1.50B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 4day RP + 8.25B [net Giveth + 1.50B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
W@G1 QQQQ 04/28/08 for a 04/30/08 close
48.10 rayrohn
47.00 bob3
46.86 frenchee
46.24 Farooq although 48.13 have same odds. May be insider have better edge.
TY Farook
SWHC, CPST, CPSL, call option QQQQs
TY Frenchee, U still in SYNM ?
Fed. Ops: 38.75B Matures this week.**
Mon: 6.75B 3day
Wed: 15.00B 23day
Thu:
5.00B 14day
12.00B 7day
=============================-==
Float: 42.75B
================================================
Temp Ops:
Perm Ops:
========================================================
Public Debt:
Limit ~ $9,815 T
4/24 ~~ $9,333 T
**Reducing Dept while lending securities making new highs.**
=========================================================
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
Fed. Ops: 38.75B Matures this week.**
Mon: 6.75B 3day
Wed: 15.00B 23day
Thu:
5.00B 14day
12.00B 7day
=============================-==
Float: 42.75B
================================================
Temp Ops:
Perm Ops:
========================================================
Public Debt:
Limit ~ $9,815 T
4/24 ~~ $9,333 T
**Reducing Dept while lending securities making new highs.**
=========================================================
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
http://www.ny.frb.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE
Thank U fellow 'Wagers'
Fed. 3day RP + 6.75B [net Drain -5.75B ]
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 3day RP + 6.75B [net Drain -5.75B ]
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed.(2)3) 7day RP + 12.00B [Net Add + 3.00B
Fed.(3) 1day RP + 12.50B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed.(2)3) 7day RP + 12.00B [Net Add + 3.00B
Fed.(3) 1day RP + 12.50B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
a managed pop by benny
Fed. 14day RP + 5.00B [sofar
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Bull market in gold means big bucks for old dental work
Wednesday April 23, 4:15 pm ET
By Stevenson Jacobs, Associated Press Writer
Bull market in gold has some fishing out old crowns and caps and heading for the pawnshop
NEW YORK (AP) -- Dazzled by the bull market in gold, people are digging through drawers for old dental caps, fillings and bridgework they saved years ago and selling them at prices that would make the tooth fairy blush.
Instead of hanging on to the pieces as souvenirs, many are turning them over to pawnbrokers, coin shops and specialized firms that buy "dental gold," hoping to take a bite out of the metal's historic run to $1,000 an ounce.
"People are really cashing in. If a dentist passes away, their kids come in with a big pile of gold teeth," said Scott Taber, owner of Taber Coins, a Shrewsbury, Mass., coin dealer that buys dental gold and then resells it to a gold smelter.
He said he used to see only a few customers a month selling gold teeth but now gets that many each week. "People are digging up the gold and starting to sell it," he said.
A gold crown typically uses about one-tenth of an ounce of 16-karat gold, which would fetch around $40 to $50 at today's prices, Taber said. Heavier pieces of dental gold can command prices of several hundred dollars, he said.
That deal sounds pretty good to people like Ann Davis, a 63-year-old retiree in Rock Island, Ill., who had gold caps and a bridge removed nearly 40 years ago and has held on to them ever since.
"You don't want to throw it away because it might be worth something," she said. "Now that gold's going up it's time to think about selling."
Gold prices have been surging since late last year as the weak dollar, record crude-oil prices and fears of a U.S. recession have enhanced its appeal as a haven for investors.
Gold set a record of $1,038.60 an ounce on March 17 and has since fallen to about $920, but experts say it could soon resume its upward climb. Several precious metals analysts have even predicted $2,000 gold ahead as a global commodities boom pushes the price of raw materials further into record territory. That would roughly equal gold's inflation-adjusted high of the 1980s.
Gold crowns, fillings and bridgework are usually made of 16-karat gold, an alloy that contains other metals such as silver, zinc and copper. That made gold dental work soft enough to shape but hard enough to form a biting surface.
Gold is still used to make some crowns, but fillings today are more commonly made of other substances, such as less expensive mercury amalgam or more cosmetically attractive polymer compounds.
"There's a lot of people my age who have excess gold teeth and they don't know what to do with them," said Davis, who stashed her dental gold in a bank safe deposit box and recently began looking online for ways to sell it.
"They must be valuable or otherwise the dentist wouldn't give them to you in a bag."
Recycling dental work isn't just a U.S. phenomenon. The Japan Denture Recycle Association, which started in December 2006, has recycled 30,000 dentures and raised about $176,500 for charity.
Dentures use parts made of gold, silver, palladium and other precious metals, and the project's leader estimates all the dentures discarded in Japan each year could raise nearly $70 million.
But don't expect to get rich hawking gold fillings and crowns.
Dr. Parviz Azar-Mehr, a dental specialist who runs a private practice in Westwood, Calif., said he often gives patients the dental gold he removes but says it's rarely enough to sell.
"Usually the amount of gold is so little that it's not significant," Azar-Mehr said.
And replacing a gold crown isn't cheap. Newer porcelain and gold crowns can cost $500 to $3,000 apiece, and not all insurance companies will pay for the procedure.
Besides the financial benefit, Taber says people don't mind selling dental gold because it's far less emotional than parting with heirlooms like grandma's wedding ring or the family silverware.
"I haven't seen anybody with sentimental teeth," Taber said.
good win Ray.
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Fed. 1day RP + 9.50B [net Drain -5.25B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 1day RP + 9.50B [net Drain -5.25B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
W@G2 QQQQ 04/23/08 for a 04/25/08 close
47.80 Farooq
47.77 rayrohn
47.67 Myself °¿°
47.00 bob3
46.84 frenchee
Fed.(1)2) 1day RP + 14.75
Fed. (2) 1day forward 28 day + 20.00B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed.(1)2) 1day RP + 14.75
Fed. (2) 1day forward 28 day + 20.00B
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Intrepid Potash prices IPO at $32.00/share : Shares will begin trading April 22 on the NYSE under the ticker "IPI."
Solar Stocks: Nine That Will Shine in a Bull Market
by: Rick Shea
posted on: April 21, 2008
As the market rebounds, investors continue to reward the large cap growth leaders, and alternative energy led by solar has been one of the prime beneficiaries. The need for alternative energy continues to be a main focus for all governments as oil continues it's climb to over $110 a barrel. Solar stocks are getting the most headlines because they are farther along the commercialization continuum and they are more prevalent than their wind and alternative fuel counterparts.
Any discussion about solar companies must start with First Solar (FSLR). Clearly, the leader in the sector according to Wall Street based on its thin film technology, First Solar's stock price has resumed its climb to near record levels as investors await its Q1 earnings report.
Suntech (STP) and SunPower (SPWR) are the next two leading players based on market cap, but they primarily use silicon-based technology for their products. SunPower just released strong first quarter 2008 numbers but some analysts had some concerns about slowing sales growth for the next quarter based on a single comment during its conference call.
Additional players include LDK Solar (LDK), Trina Solar (TSL), Evergreen Solar (ESLR) and Canadian Solar (CSIQ).
There are two main questions when investing in solar stocks:
First, which technology (thin film vs. silicon) is likely to offer the best long term business model for cost and efficiency. Again, based on market cap and relative performance the market is betting that customers will prefer thin film technology led by First Solar. While I tend to agree I am certain that the market will be large enough for both technology forms to compete and provide strong sales and profits.
Second, which stocks offer the best values and are likely to maintain the growth rates that investors need to drive higher market capitalizations.
The following chart analyzes the top players with the key growth rates and relative value.
You can see that Wall Street believes that First Solar will prevail based on a market cap that is three times the next largest competitor. You can also see its stock is priced for perfection. First Solar has a history of trouncing estimates and will likely do so again this quarter.
SWPR and STP are the next largest competitors with STP actually showing the largest sales estimate for Q1 2008. Both are well-positioned to lead the silicon based technology and sport reasonable valuations with forward P/E's of 27 and 18 respectively. Their PEG's (price to earnings growth) is actually very attractive and lower than most slower growing companies.
Both Canadian Solar (CSIQ) a Chinese company and LDK are interesting plays. Both are showing strong growth with below average valuations. LDK's PEG is ridiculously low vs. the other solar companies and vs. the overall market. So what's this all mean for the average investor looking to buy alternative energy and solar stocks. I believe FSLR will deliver on Q1 earnings and lead the group to new highs.
I will continue to maintain my long positions in FSLR, SPWR and STP until their valuations get too high. At that point it may be worthwhile to switch into some of the smaller names particularly LDK and CSIQ. The leaders will lead the sector up until valuations get out of hand and then others will play catch up shortly after.
FYI: I also like Cree Inc. (CREE) and Zoltek Companies Inc. (ZOLT) as additional long-term plays in the alternative energy sector.
Disclosure: The author is long FSLR, STP & SPWR.
http://seekingalpha.com/article/73087-solar-stocks-nine-that-will-shine-in-a-bull-market
Fed auctioning $50 billion in 28-day-credit to banks
By Ruth Mantell
Last update: 10:01 a.m. EDT April 21, 2008Print RSS Enable Live Quotes
WASHINGTON (MarketWatch) -- Looking to alleviate liquidity problems in global financial markets, the Federal Reserve on Monday is offering $50 billion in 28-day-credit through its term auction facility. Monday's auction is the second of two special auctions in April that aim to support banks. Notification to winners is Tuesday, and settlement is on Thursday. In the prior auction, there were 79 bidders, with a total of $92 billion in proposals.
Fed. 1day RP + 15.00B [net Add +4.00B ]
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Fed. 1day RP + 15.00B [net Add +4.00B ]
The Slosh Report:
http://www.gmtfo.com/RepoReader/OMOps.aspx
Watch list: PAL CPST on volume./e
Arch Coal 1st-quarter net nearly triples; year outlook up
By Robert Daniel
Last update: 8:27 a.m. EDT April 21, 2008
TEL AVIV (MarketWatch) -- Arch Coal Inc., [s aci] the St. Louis coal producer, reported first-quarter net income nearly tripled and profit from operations more than doubled on 22% higher revenue. Earnings reached $81.1 million, or 56 cents a share, from $28.7 million, or 20 cents, in the year-earlier period. Earnings from operations were $116.5 million versus $50.9 million. Revenue rose to $699.4 million from $571.3 million. Analysts surveyed by FactSet Research were expecting profit of 45 cents a share on $676.8 million of revenue. Profit margins were particularly wide in the Central Appalachia region, while higher prices and cost controls also contributed to the results, Arch Coal said. The company sold 34.3 million tons of coal in the quarter, up 9.2% from 31.4 million a year earlier. The average sales price per ton rose 9.7% to $18.49 from $16.85, while the cash cost per ton rose less than 1% to $13.05 from $12.93. For the year, Arch Coal lifted its estimate of earnings to a range of $2.40 to $2.80 a share. FactSet's survey is looking for $2.43.
W@G1 QQQQ 04/21/08 for a 04/23/08 close
48.20 frenchee
47.55 bob3
47.35 rayrohn
Why Gold Was 'Hacked' Today - and How
April 19, 2008
http://www.gold-eagle.com/editorials_08/wallenwein041908.html
Why Gold Was 'Hacked' Today - and How
April 19, 2008
http://www.gold-eagle.com/editorials_08/wallenwein041908.html
Futures (2) + World Indices
http://www.cme.com/dta/del/globex.html
http://money.cnn.com/data/premarket/
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Updates every 60sec ~ Watch the dates!!
http://www.wwfn.com/commentary/oscharts.html
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