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yeah. I kinda wish I would have bought on Friday. I didn't think the reason this stock was going down though was due to the EU. So I still don't want to jump in here..
European debt is now passed down the road for about 3-5 years... US debt should be about the same.
China showed growth in Exports even though marginal that looks good for them
We have had a lot of negative things that are weighting this stock down go away or kicked down the road. Thus I don't see why this can't go to 8 maybe 10 in the near term despite bad earnings.
Gonna be watching the next few days as a time to get in.
Looking good for our open.
"Excel Maritime Carriers (EXM) was upgraded today by analysts at Oppenheimer and the stock is now at $5.83, up $.02 (0.34%) on volume of 2,188,984 shares traded. The brokerage upped EXM to Outperform from Perform. Over the last 52 weeks the stock has ranged from a low of $4.83 to a high of $11.70. Excel Maritime Carriers stock has been showing support around $4.85 and resistance in the $7.11 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for EXM. If you are looking for a hedged play on EXM the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 5 range.
ABR-Seven Summits Strategic Investments NewsBite Goto www.iotogo.com/c?EXM for our free Excel Maritime Carriers (EXM) Stock Report - See what our analyst have uncovered about this company."
they have a price target of $8 fwiw
Kinda hopeful this blows through the support around the low 12 high 11's and goes down to support at about 10. Down there this looks much more interesting.
Have limit bids in. Hopefully the market goes down so I can continue to build.
I keep scratching my head about this...
This stock has come back a long long way without it... We are back to around levels of pre 2008 with a dividend...
Is a dividend priced in already? or is this stock set to go to 50? Or are we just way over valued right now... although WFC has little to no exposure to the European problems... For once this should really help us here.
I don't know... If you have any thoughts I'd love to hear them.
Wells Fargo:'Government Entities' Probing Its Mortgage Lending
Friday 05/07/2010 6:59 PM ET - Dow Jones News
By Marshall Eckblad
Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Wells Fargo & Co. (WFC) said Friday in a regulatory filing that "certain government entities are conducting investigations into the mortgage lending practices of various Wells Fargo entities."
The San Francisco bank didn't say which government agencies are looking into its practices of issuing home loans, but it did say the investigations are looking into "whether borrowers were steered to more costly mortgage products."
The bank said in the filing that it plans to "cooperate fully with these investigations." A spokeswoman for Wells Fargo said the bank wouldn't comment beyond the information in the filing.
Wells Fargo has faced multiple lawsuits over its lending practices from local governments, including Baltimore and Memphis, and some are pending.
-By Marshall Eckblad, Dow Jones Newswires; 212-416-2156; marshall.eckblad@dowjones.com
(END) Dow Jones Newswires
05-07-10 1859ET
Copyright (c) 2010 Dow Jones & Company, Inc.
Moody's Says Very Likely to Downgrade Portugal
http://www.cnbc.com/id/36959747
"PIMCO's Gross: rating agencies not useful"
"Spain has 20 percent unemployment and a recent current account deficit of 10 percent, Gross said, adding that in the markets its government bonds are already trading as if they were rated at Baa levels; in the lower echelons of investment grade."
http://www.cnbc.com/id/36959940
"Greece Not the Real Problem"
"we still have to deal with spain, portugal and likely italy."
http://www.cnbc.com/id/15840232?video=1487665599&play=1
I'm with you... The odd thing is they are trying to lower taxes by taxing the most profitable industry...
They even are using this tax to lower taxes on tobacco... it really makes no sense
oh well
you may be right.
Hahahaha this is a joke right?
Nothing wrong?!?! lmao
Spain is really going to prob up greece, watch out Ireland may help them out too!
Italy: External debt (as % of GDP): 147.4%
Gross external debt: $2.594 trillion (2009 Q3)
2009 GDP (est): $1.76 trillion
Greece: External debt (as % of GDP): 170.5%
Gross external debt: $581.68 billion
2009 GDP (est): $341 billion
Germany: External debt (as % of GDP): 182.5%
Gross external debt: $5.13 trillion
2009 GDP (est): $2.81 trillion
Spain: External debt (as % of GDP): 186.1%
Gross external debt: $2.55 trillion (2009 Q3)
2009 GDP (est): $1.37 trillion
Norway: External debt (as % of GDP): 202.6%
Gross external debt: $553.4 billion
2009 GDP (est): $273.1 billion
Finland: External debt (as % of GDP): 220.2%
Gross external debt: $402.24 billion
2009 GDP (est): $182.6 billion
Portugal: External debt (as % of GDP): 235.9%
Gross external debt: $548.45 billion
2009 GDP (est): $232.4 billion
France: External debt (as % of GDP): 248%
Gross external debt: $5.23 trillion (2009 Q3)
2009 GDP (est): $2.11 trillion
Austria: External debt (as % of GDP): 256.2%
Gross external debt: $827.9 billion
2009 GDP (est): $323.1 billion
Sweden: External debt (as % of GDP): 264.3%
Gross external debt: $881.5 billion
2009 GDP (est): $333.5 billion
Denmark: External debt (as % of GDP): 316%
Gross external debt: $627.6 billion
2009 GDP (est): $198.6 billion
Belgium: External debt (as % of GDP): 328.7%
Gross external debt: $1.25 trillion
2009 GDP (est): $381 billion
Netherlands: External debt (as % of GDP): 376.6%
Gross external debt: $2.46 trillion (2009 Q3)
2009 GDP (est): $654.9 billion
Switzerland: External debt (as % of GDP): 382.2%
Gross external debt: $1.21 trillion (2009 Q3)
2009 GDP (est): $317 billion
United Kingdom: External debt (as % of GDP): 425.9%
Gross external debt: $9.15 trillion
2009 GDP (est): $2.15 trillion
Ireland: External debt (as % of GDP): 1,312%
Gross external debt: $2.32 trillion
2009 GDP (est): $176.9 billion
Anyone want to go hunting?
1500 points more down to go?
http://www.cnbc.com/id/37027003
Well we are right around the 10% correction everyone has been asking for...
Now a ton of people are saying that buying stocks is the thing to do now... the question is will they be right? or will the european debt issue take over.
I see an erie similarity to 2008. I hope I'm wrong.
Hahaha a Senior JPM economist was on the Kudlow report. he said that Europe could grow up to 3%.. then Larry asked well what about greece he then said if it is contained it could grow up to 2.5%
Now As I'm sure you all know Larry Kudlow is one who loves to look at anything positive.. Now one might wonder why in the world is JPM saying that Europe looks good??? Hmm Maybe it is because if things go bad their 1.3 plus trillion in debt there is going to drag them down...
Now Larry goes wow no one else is saying this, this is good to hear... Ha I wonder why Larry... I wonder why...
if the tax doesn't happen this could have a snap back rally to the high 60's low 70's very quickly.
huh? do you mean $100 or $10...
I can see 100 but I don't see 10, could you explain 10 if that's what you think. tia
Nice! Lets hope we get back up to 90-100 in the weeks and months to come
Ha hey I'm not against it as I'm not in... I'd love to get in as low as possible...
err I don't see that happening... I'd be happy with 12
you picking any of this up?
RE: "I wonder if that is a leading indicator of the shift in dry bulks? "
Ha that is the million dollar question
yeah it depends if you assume that the world has had any growth since 2008 when the markets really came to a halt.
I'd argue there has been some coming back if not real growth at least growth in confidence.
Now that being said... We have the major issue in Europe, and some talk about a possible China slow down...
Then you have the US debt as well that hasn't been even looked at...
ha if we can get over all of that... this stock is gonna take off like no other!!
That's prob a better way to look at it.
The real issue is, not where you buy the stock because if it goes to levels it was before you aren't gonna really be worried about half a dollar per share...
The issue is, will the global growth and demand continue...
ha it's kinda a crap shoot.
Because really we need the global story to come back to help. really what you buy it at down here is not really that important. unless you are going for a quick trade.
now that being said... I'd like it to test the low 5's high 4's
jobs report looks good... i'd say that's pretty good. i'd take shares at that level right now...
but who the heck knows with the way the markets have been going. Long term I think you should be very happy
No. When it comes down to it. I pushed the buy button. I made a very flawed assumption. and we have to remember the saying when you assume you make an A$$ out of you and me.
My assumption was that the officers would not blatantly lie and cheat on sec documents. I mean the absurdity of what they did just boggles my mind. I don't even think the people who were negative about the stock all the time could believe how blatant what they did was.
There is only one thing I can do... from this.. never trust my judgement of a penny stock again.
GM. Thanks! good luck I wish I had pulled the trigger.. I tried to buy some PG but my order wasn't filled I was too slow..
I liked the action yesterday but I think we might get another chance to get some lower prices. we shall see.
I hope you got RIMM really cheap, although depending on your timeframe it shouldn't really matter at all.. Good luck to ya!
thanks. watching the markets closely...
"The cost of protecting government debt against default in Greece, Portugal, Spain as well as in Britain rose, according to CDS monitor CMA DataVision. The prospect of no overall majority in the British parliament saw asset prices crumble with investors already spooked by a global equity market sell-off."
"The UK's CDS rose, to 99 bps from 91 bps on Thursday in New York."
http://www.cnbc.com/id/37013461
Hmmm interesting... Staying clear, but I didn't expect stuff like this to happen...
AIG Replaces Goldman With Citigroup, Bank Of America - NYT
Friday 05/07/2010 3:23 AM ET - Dow Jones News
DOW JONES NEWSWIRES
American International Group Inc. (AIG) has replaced its main corporate adviser Goldman Sachs Group Inc. (GS) with Citigroup Inc. (C) and Bank of America Corp. (BAC), the New York Times reported on its website, citing three people with knowledge of the matter.
The newspaper reported Thursday that the move is the first in what could be a slew of defections among Goldman clients, according to some analysts, in view of allegations that Goldman defrauded customers in a complex mortgage investment.
A Goldman spokesman and an AIG spokeswoman declined to comment, the newspaper said. Bank of America and Citigroup didn't immediately respond to requests for comment, according to the newspaper.
AIG met with its two new advisers Thursday, the people told the newspaper.
Full story: http://www.nytimes.com/2010/05/07/business/07goldman.html?dbk
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/nae/al?rnd=yGvYv1GyBZK8vLdoTQKsDg%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
05-07-10 0323ET
Copyright (c) 2010 Dow Jones & Company, Inc.
isn't this a duplicate board?
http://investorshub.advfn.com/boards/board.aspx?board_id=17701
I love seeing negative news here.. making things cheaper and cheaper.
Gold Mining Execs Say Australia Becoming Expensive, Risky
By Robb M. Stewart
Of DOW JONES NEWSWIRES
JOHANNESBURG (Dow Jones)--Australia's proposed tax changes will make it a far more expensive country for mining companies and give it a greater sovereign risk than that of South Africa, chief executives from two of the world's largest gold producers said Friday.
Officers from AngloGold Ashanti Ltd. (AU) and Gold Fields Ltd. (GFI) said there remains a great deal of uncertainty whether a planned "super tax" on natural resource profits on top of a carbon tax and increased royalties will be approved in Australia and how it would be imposed, but agreed they expect to pay more to operate in the country.
"It is highly negative for Australia," said Nick Holland, CEO of Johannesburg-based Gold Fields. "It will place [the country] in second as the most expensive fiscal regime in the world."
AngloGold CEO Mark Cutifani separately said the proposed super tax was "disappointing," and risks driving investment toward other countries such as Canada and South Africa.
"South Africa has less sovereign risk, and we have a very positive relationship with the government there," Cutifani said.
Australia's Prime Minister Kevin Rudd said Thursday his government won't be deterred from introducing a 40% tax on mining sector "super profits," despite increasing opposition from industry. The proposed new tax was announced Sunday as part of a broader review of Australia's tax system.
Both Cutifani and Holland said they expect the final legislation that emerges in Australia will be different from that proposed, but for taxes to rise nonetheless.
The CEO of Johannesburg's AngloGold said the mining industry has been starved of investment for years, which has led to shortages of supply and so higher commodity prices.
"It is unfortunate to see people tax or increase the cost for the industry," Cutifani said. "Our returns haven't been that attractive."
Still, he expects the company will proceed with its majority-owned Tropicana project in Australia. AngloGold is currently undertaking a feasibility study and seeking environmental approval for open pit mining.
-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848; robb.stewart@dowjones.com
Interesting little company here... might be one to grab onto if it continues to pull back some..
What's this about a new CEO?
Asda: No Comment On Reports That Andy Clarke To Be Appointed CEO
Friday 05/07/2010 3:09 AM ET - FW
This went through my news.
Either way I see a bunch of people who are gonna pile into WMT as a fear trade.
Jim Rogers
""You never have enough shorts when things collapse," he said. "I think people should be looking for shorts or defensive positions because we're going to have problems for a while, at least in my view.""
http://www.cnbc.com/id/36982764
No.
It is very clear though millions of dollars were lost. My guess is that metter and moskowitz stole close to 50-100 million dollars. the exact amount will likely come out later. But I'm also guessing if they were so bold as to be doing all of this, I would be shocked if they weren't also then shorting their own stock...
As the criminal case goes forward, I'm sure some of these things will come out.
No I'm done with penny stocks forever.
I was head over heals in love with the stock. SO much so that I would listen to anything to agree with what I thought was going on... I would take any excuse to hold on.
I just hope justice is served for what they did. 5 years is WAY to short... Luckily for us with the economic climate it is going to be very easy to justify a full sentence.