<rss version="2.0"><channel><title><![CDATA[http://www.charttrader.com]]></title><pubDate>Wed, 31 Mar 2010 04:20:49 GMT</pubDate><description><![CDATA[Exciting news Readings ,updated daily]]></description><link>http://www.astrobio.net</link><item><title>Best Buy, Red Hat Beats the Street</title><pubDate>Wed, 31 Mar 2010 04:20:49 GMT</pubDate><description><![CDATA[Red Hat (RHT) reported its 4th Quarter earnings profits grew 44%.  Shares are up 98% for the year.  Some currency losses in Europe this year otherwise the profits would have been higher.  All in all, a good quarter, with profits of $23.4 million or 12 cents a share.  The company announced a $300 million stock repurchase program.  The leader in open source software significantly outperformed Novell and Oracle.   Trading at $29.43 down $1.27 in afternoon trading giving them a market cap of $5.8 Billion.
Best buy (BBY) announced Q4 earnings at $1.82 3 cents better than the $179 estimated.  Revenues of $16.5 billion vs $6.0B estimated.  Store sales were up 7% over last year.     William Sergautis  ChartTrader Hollywood FL  

]]></description><guid>44 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=44</link></item><item><title>Market Update</title><pubDate>Mon, 29 Mar 2010 04:20:49 GMT</pubDate><description><![CDATA[	
Dow leaders include Caterpillar Boeing ,Exxon mobil, , alcoa, att, Bank of America and Merk.Crude oil at $82.50 is up $2.50 or 3%.  The U.S. dollar is week sending commodities prices rising.  There is optimisim today about the fact that Greece is initiating a new sovereign bond offering and the U.S. treasury chooses Morgan Stanly to handle the sale of its 7.7Billion shares of CitiBank.  Other commodities up on the day include:  Natural Gas up .06 to $3.92 up 1.6%, Copper + $3.50 up $0.10 or 3.3%, Gold +$8.00 or 0.72% at $1,112.  Traders are questioning if the dow can hold above 10,000 with some nervousness in the market waiting for the jobs number coming out this Friday.   William Sergautis Registered Investment Advisor ChartTrader.com
]]></description><guid>43 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=43</link></item><item><title>Fed Holds Key Interest Rate Unchanged </title><pubDate>Tue, 16 Mar 2010 04:20:49 GMT</pubDate><description><![CDATA[Stock markets moved higher after the Federal Reserve announced at 2:15pm today that they will leave the Fed Funds rate at zero to 0.25%.  The Fed says the labor market is stabilizing and presented a reasonably positive statement saying that &#34;the pace of the U.S. recovery to be moderate for a time  This statement was nearly identical to the Jan. 27 statement where they said they would continue to evaluate the purchases of mortgage backed securities.  This time they only said that they will continue to monitor economic conditions.  The markets are looking for the November statement as when the Fed may start to raise interest rates.  Higher interest rates would be a result of an improving economy so ultimately that is what we are all hoping for.  The FMOC wants to act in a steady prudent way with as much transparency as possible so as not to give the markets any surprises.  William Sergautis ChartTrader.com Hollywood Florida]]></description><guid>42 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=42</link></item><item><title> Ben Bernanke testifies on monetary policy New home Sales drop 11.2%</title><pubDate>Wed, 24 Feb 2010 04:20:49 GMT</pubDate><description><![CDATA[Ben Bernanke explained before congress today that the Fed benchmark lending rate will remain at historic lows and hold at around zero.  He warned of a week job market and explained why due to mainly mechanical reasons the Fed is restoring the supplemental financing program draining 200 Billion of excess liquidity from the market after raising the discount rate last week.    

Home sales were unexpectedly weaker 
Sales of newly built homes took an unexpected 11.2% drop, falling to a record low.  The annual rate of sales was 309,000 units in January, (Commerce Department). That was a 6.1% drop from last year s number.   Economists predicted sales would climb.



]]></description><guid>41 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=41</link></item><item><title>Expecting China to Recover in the year of the Tiger</title><pubDate>Fri, 12 Feb 2010 04:20:49 GMT</pubDate><description><![CDATA[The Peoples bank of China increased reserve requirements to 16% for big banks and 14% for smaller banks to try to cool off their heated economy.  Analysts are expecting more increases and expect Chinas central bank to implement further controls on lending.  The Dow Jones index is down about 100 pts in afternoon trading but still above the key 10,000 level.  Commodities under pressure because Chinas growth has been a bullish theme for commodities.  China is trying to lower its growth rate from double digit to high single digit growth.  This is the 2nd time the government has increased bank reserve requirements.  The dollar is higher on the new sending investor into increased risk aversion.  This is very much a surprise especially after its surprising lower inflation numbers posted recently.   William Sergautis ChartTrader.com  Hollywood,  Florida]]></description><guid>40 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=40</link></item><item><title>European Union failed to deliver a resolution on Greece Debt Problem</title><pubDate>Wed, 10 Feb 2010 04:20:49 GMT</pubDate><description><![CDATA[Traders are growing impatient with the EU foot dragging but there are hopes that the EU and Greece would reach an agreement regarding loan guarantees to ensure Greece would not default on its sovereign debt.

Commodities lower at noon trading Wednesday Feb 10, 2010.  Dow Jones down 91 pts Disney lower on flat earnings saying consumers and advertisers still cautious.  NY Times beat expectations saying advertisers are coming back and circulation is slowly getting better. Bank of America and Merrill Lynch raised Dell Computer to a buy up 2.5%.
]]></description><guid>39 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=39</link></item><item><title>Is The Correction Over?</title><pubDate>Tue, 09 Feb 2010 04:20:49 GMT</pubDate><description><![CDATA[Dow up 112 in early morning trading Tues Feb 9, 2010.  Greece proposes significant overhaul of its troubled pension system raising the age of pension recipients and banning early retirement.  Unions are in firm opposition.  

Coke announcing earnings in line with expectations and showing continued growth in China.  McDonald s up with solid growth in Asia as well.  European banks up across the board up 4 to 7%.  Home builders up this morning with Pulte homes losses shrinking vs. previous quarters.  Similar stories among the other home builders. ]]></description><guid>38 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=38</link></item><item><title>Jobless Claims higher by 15,000 </title><pubDate>Tue, 18 Aug 2009 04:20:49 GMT</pubDate><description><![CDATA[The weekly jobless claims released at 8:30am today were at 576,000 up 15,000 from a revised 561,000 and well above the expected 550,000 number.  Stabilization could be due to the end of benefit cycles.  
The Dow is up 30 in afternoon trading showing that the overall market is taking this news in stride.  The news is a little disappointing but does not change the overall trend as clearly down.  It seems clear we ve seen the peak in jobless claims which were around 650,000 per week this spring.  The unemployment level could still top 10% and then start coming down next year.  Only a few months ago people were talking about 12% in unemployment so generally things seem to be improving.  If you look at the effect of the stimulus which only modestly improved things; take into consideration that only about 10% of the money has been spent to date.   About half of the money will be spent in 2010 and that will have a very supportive effect in the economy.  William Sergautis ChartTrader Investment Advisors.

]]></description><guid>37 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=37</link></item><item><title>Jobs Report Better Than Expected</title><pubDate>Mon, 10 Aug 2009 04:20:49 GMT</pubDate><description><![CDATA[bxfhdfgh]]></description><guid>36 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=36</link></item><item><title>Oil Inventories Down 3.7M barrels</title><pubDate>Wed, 01 Jul 2009 04:20:49 GMT</pubDate><description><![CDATA[The Energy information agency announced today at 10:30am that oil Inventories were down 3.7 million barrels.  Distillery inventories were up 2.9 M barrels.  Gasoline up 2.3 M barrels and refinery utilization was down 0.1% to 87%.  The effects of the OPEC supply cuts are starting to show.  In June the supply disruptions in Nigeria accounted for 200,000 to 280,000 barrels/day in shut downs according to the national oil company in Nigeria.]]></description><guid>35 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=35</link></item><item><title>Stocks and Commodities Up Weds. in Quiet Trading Week</title><pubDate>Wed, 10 Jun 2009 04:20:49 GMT</pubDate><description><![CDATA[News this quiet Wednesday Morning includes: Courts clear the way for the GM/Fiat deal to move forward.   Fed. O.K. s 10 banks to repay TARP funds and oil closed above $70/barrel.  Commodity prices are higher this morning as the U.S. dollar continues under pressure.  Data on government energy inventories due out at 10:30 with recent upward revisions in its oil  2009 forecast are lifting oil prices higher.]]></description><guid>34 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=34</link></item><item><title>10 Treasury Yield at 7 Month High</title><pubDate>Mon, 08 Jun 2009 04:20:49 GMT</pubDate><description><![CDATA[10 Treasury yields are at a 7 month high this Monday morning with auctions scheduled later this week for both 10yr and 30 yr debt totaling over $65B.  There is speculation that the Fed may have to raise interest rates sooner than anticipated and that is moving yields higher.  The 2yr bench mark yield is at its highest yield since Nov. 2008 at 1.349%.  Later this week the Fed will be releasing its beige book data.  Traders are bidding up the dollar the last few trading sessions which has influenced most of the commodities from oil to copper as well as the gold markets.  Gold is called down $14 to $948 in pre market trading.  Charttrader.com, Registered Investment Advisors.  Hollywood Florida.]]></description><guid>33 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=33</link></item><item><title>March Home Prices Down 18.7%.   More Than Expected</title><pubDate>Tue, 26 May 2009 04:20:49 GMT</pubDate><description><![CDATA[March Case Shiller report out today showed housing prices were down 18.7% slightly more than expected.  The slowing pace of declining prices is just not happening.  The housing market clearly has a ways to go as far as selling off the excess inventory due to the large number of foreclosure properties currently on the market.
William Sergautis Charttrader.com Registered Investment Advisor.   Some housing indicators show signs of bottoming.  Home sales and construction activity are near or at bottom.  The number of home sales is boosted by the surge in foreclosure sales.  Prices can fall a little more before they bottom but housing sales and construction activity is stabilizing.  Demand is coming up due to the historically low mortgage rates.  This is thanks to the aggressive fed and treasury actions to stabilize the financial markets and to bring in more funds for Freddie Mac and Fannie Mae.  Also the drop in prices has made housing a lot more affordable.  Income levels are an important factor in housing demand and with the currently high unemployment levels and low consumer confidence levels there is no great increase in demand even with the low prices.
 ]]></description><guid>32 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=32</link></item><item><title>Bank United Sold to Private Equity Group</title><pubDate>Fri, 22 May 2009 04:20:49 GMT</pubDate><description><![CDATA[The biggest bank failure of the year, Bank United was told as early as April to find a buyer because of its serve financial condition.  The bank was hit hard by falling home values in Florida on of the worst area for housing price delclines in the country.  The FDIC will share in the losses in $10.7B in assets and will recieve warrent as well as share in the profits if the bank gooes public.  The cost to the FDIC is a hefty $4.9B depleating their gund which totaled $53B at the end of Q1.  The FDIC said they will have enough captial to deal with potential future bank failures.  The FDIC said they will release guidlines for private equity in the future and it is the intention of the private equity group to aquire other troubled banks under the Bank United umbrella.  

John Kanas along with a group of high prifile investors will serve as chairman and officers of the new bank. 
Charttrader Investment Advisors Miami Florida.  The name of the bank will not change and no member of the group will own more than 24.9%.  All branches will remain open.   ]]></description><guid>31 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=31</link></item><item><title>S&#38;P may downgrade UK Credit Rating from AAA</title><pubDate>Thu, 21 May 2009 04:20:49 GMT</pubDate><description><![CDATA[Brittan could lose its top level credit rating for the first time due to increasing debt piled on after bank bailouts and stimulus packages.  Stocks in Brittan are down by more than 2% today after standard and Poors said there is a 1 in 3 chance they will be downgrade the UK debt rating from AAA.  This would mean higher interest payments on debt.  Bond auctions would be more difficult.  There is $344B in auctions coming up this fiscal year so this would be a very unfortunate development.  William Sergautis, Charttrader.com

 The IMF said the the UK debt level would reach 67% of GDP and while standard and poors said it could reach 100%.  Prime Minister Gordon Brown had increased the countries borrowing,  like in the U.S.,  to pay for stimulus and bank bailout programs.  Brittan s bank looses have totaled $120B since 2007. ]]></description><guid>30 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=30</link></item><item><title>Premarket Up ahead of housing Data/ Saks beats est at $0.04</title><pubDate>Tue, 19 May 2009 04:20:49 GMT</pubDate><description><![CDATA[S&#38;P futures called higher at 8:15am this Tues morning May 19.  Charttrader Investment advisors.  The market is looking good to extend yesterdays gains while housing starts data will be released at 8:30 and could change sentiment.  Financials called higher Citi Group Bank of America and State Street all called higher.  Banks want to give the tarp money back.  Three major banks, JP Morgan, Goldman Sacs and Morgan Stanley will try to give $45B back to escape the extra scrutiny and restrictions on executive compensation.  Home Depot beats estimates with profits climbing over 40%.  India stocks very strong as well as European markets up for the fourth day.   ]]></description><guid>29 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=29</link></item><item><title>State Street Offering $1.5B in New Stock</title><pubDate>Mon, 18 May 2009 04:20:49 GMT</pubDate><description><![CDATA[State Street Corp offering $1.5B in new common stock and will also be selling non FDIC guaranteed notes to repay the Federal governments tarp funds even after they passed last week s stress test.  Charttrader Investment advisors Miami.  This is not one of the firms that the gov. said did not need to raise additional capital but State Street Corp (SST) wants to get out of the restrictions that may be imposed by accepting tarp funds.  They see 2009 profit of $4.25 to 
$4.50 better than analysts were expecting. Analysts also boosted shares of Bank of America(BAC) when Goldman Sacs added BAC to its conviction buy list saying it had a &#34;Solid Quarter&#34; for its mortgage and capital markets business.  Goldman Sacs, (GS) higher in pre market trading after Citigroup(C) raised its price target and 2nd Quarter and 2009 profit estimates and upgraded to a hold at JMP securities.  Morgan Stanley also higher after Citigroup raised its price target as well as its earnings estimates for 2nd Quarter and 2009.
]]></description><guid>28 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=28</link></item><item><title>CPI Unchanged for April</title><pubDate>Fri, 15 May 2009 04:20:49 GMT</pubDate><description><![CDATA[CPI Unchanged for April but down 0.7% for the year which brings up the debate of inflation vs. disinflation.  This  debate is going on around economic circles and within the Fed.  Ex. Food and energy the CPI was up a modest 0.3% near expectations with the Empire State Mfg Index down 4.55% in May vs. a much larger 14.65% for April.  Core CPI numbers were up a little more than core PPI showing signs that may indicate good news along with tightening credit spreads indicating that the wiliness of banks to lend to one and other is improving.   ]]></description><guid>27 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=27</link></item><item><title>Retail Sales Numbers Worse Than Expected/Dow Down 184</title><pubDate>Thu, 14 May 2009 04:20:49 GMT</pubDate><description><![CDATA[U.S. April import prices rise 1.6% down 0.4% ex autos down 0.5% worse than analysts expected with March numbers revised lower sent the Dow Jones Index down 184 pts Tues. May 14, 2009.  After 2 improving months of retail sales numbers in Jan. and Feb. after a very week 4th Q the week April Retail numbers were a clear disappointment to the market.  Bill Sergautis  Charttrader Investment Advisors, Hollywood Florida.  

Auto Sales were up 0.2% vs being up 2% the month earlier.  U.S. April furniture sales were down 0.5% and Electronics sales down 2.8%.  Building materials up 0.3% with food and beverage down 1%.  Gas station sales were down 2.3% partly due to a rise in the cost of gas in April.  Clothing sales down 0.5% and Sporting goods sales slightly higher for the month.  

 ]]></description><guid>26 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=26</link></item><item><title>Economy contracts 6.17% Much Greater Than Expected</title><pubDate>Wed, 29 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[The biggest quarter to quarter decline in GDP growth since the late 1950 s but there is some good news in the latest numbers.  Consumer spending was up 2.2% almost 2X expected which indicates that with the current low inventory numbers future growth is just around the corner.   Stock piles otherwise known as business inventories were down $103.7B in the 1st quarter this year vs. just $26 B in the 4th quarter of 2008 indicating what a huge cut in inventories we are currently seeing.  Businesses have cut their inventory levels as much as they possibly can.  
Business investment is still weak because businesses still do not know how long this recession is going to last.  Residential investment and housing starts are nearly flat.   Future GDP numbers are expected to be much better in the coming quarters according to Christina Romer, Chair of the White House Council of Economic Advisers.   We are optimistic for positive growth in the 4th quarter GDP growth 
]]></description><guid>25 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=25</link></item><item><title>Earnings Mixed Yahoo Beats Estimates</title><pubDate>Wed, 22 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[Yahoo announcing after the bell Tues earnings of $0.15 beating expectations of $0.08 sending the sock to $14.61 up $0.23 in midday trading on Weds. Off the highs at $15.39.  The company reported revenues excluding traffic acquisition costs of $1.16B or $1.35B in total revenues vs. $1.2B estimated.  Yahoo sees 2nd Profits at $1.425B to $1.625B below the $1.69B forecasted.  EBIDA was a little lower than expected at $375M to $425M expected.  Yahoo will cut 5% of their global work force the company announced Tues.  
Earnings this season is mixed but somewhat better than expected.  There are not a lot of alternative that look good right now bonds not very compelling and certainly not real estate.  So stocks are looking quite good by comparison.  
UAL corp. the parent company of United Airlines narrowed its Q1 loss to $382M excluding charges beating est. as lower fuel costs offset weaker travel demand.
Lockheed Martin reported an 8.8% drop in 1st Q profits down to $666,000,000.  The company raised their 09 forecast because of its buy back program which will result in fewer outstanding shares.
Schering Plough which is in the process of being acquired by Merc reported profits up to $767M due to lower costs but sales dropped 5.7% to $4.4B from a change in currency rates.
AMD advanced micro devices reported a loss of $0.66 in line with expectation.  Q1 revenues where $1.18B vs. $978M forecasted including $0.04 unfavorable impact.  The companys guidance for the next quarter was non existent which is not making the stock happy down 3% to $3.25 today.
 



























 ]]></description><guid>24 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=24</link></item><item><title>Bank of America down on Q1 Results</title><pubDate>Mon, 20 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[Shares of BAC are down over $2.00 this afternoon after the company reported better than expected earnings of $0.44 vs. $0.04 EST.  President Obama speaking over the weakened called for additional transparency and said that any additional tax payer s money would not be put into a black hole.  Stress test results are expected on May 4th and a strong run up in financial stocks all put selling pressure on the financials.
Ken Lewis CEO of Bank of America announced today that the company had net income of $4.2B, diluted earnings of $0.44 per share after preferred dividends including $402 M paid out to the government.  BAC took several action in the 1st quarter to enhance the capital and liquidity position including strengthening the loan loss reserves and building the cash position.  Mr. Lewis talks about how they were able to post strong positive net income for the 1st quarter.

He was extremely happy with the country wide and Merrill Lynch s outstanding performance that &#34;contributed significantly to our success&#34; The announcement went on to say that they continue to face extremely difficult challenges this year especially from the deteriorating credit quality driven by weakens in the economy and growing unemployment.  Lewis went on to say the company continues to be a solid contributor to the effort to revitalize the U.S. economy through our industry leading efforts to reform mortgage lending restructuring home loans when appropriate and mitigate foreclosures whenever possible.
]]></description><guid>23 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=23</link></item><item><title>Markets Rally on Less Negative Beige Book Report</title><pubDate>Thu, 16 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[The Dow Jones Industrials rallied after a less gloomy beige book report was released today at 2:00pm closing at 8029.62 up 100 Wednesday April 15, 2009.
5 of 12 districts showed moderation in the pace of decline vs. 10 of 12 last month showing an increase in decline.  
This data supports the idea that there is moderation in the pace of decline in the economy which indicates that we may be bottoming here.  Hopefully the next report will go to some real improvement in economic activity.   The main points on today s beige book report are:
Overall economic activity contracted further or remained week
Several districts see signs some sectors stabilizing at low levels
Manufacturing was weak across a broad range of industries but some bouncing along the bottom.  
Firm orders &#38; sales of high tech seen in Dallas and San Francisco districts.
]]></description><guid>22 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=22</link></item><item><title>Commerce Dept Retail Numbers Down</title><pubDate>Tue, 14 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[March retail sales were down to a disappointing 1.1% vs. .3% for February lead by a sharp decrease in major purchases such as autos and electronics.  This shows we are not out of the recession yet and no clear indication of a bottom.  Other than auto sales and auto parts, sales were down 0.9% vs. a 1% increase in February.  Commerce dept retail sales reports were up the last two months which gave some optimism that we were near bottom.  Auto sales were among the weakest sectors with a drop of 2.3% vs. 3% last month.]]></description><guid>21 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=21</link></item><item><title>Oil down almost 6% lower forecasts</title><pubDate>Mon, 13 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[Reports from the IAE (International Energy Agency) showed a reduction in estimates of 09 crude oil to 83.40 mbpd to 84.4 mbpd. The Organization of Petroleum Exporting countries production levels at almost 28 mbd for the month of March which was below Feb.  

Crude oil futures were over $50 due to bullish sentiments coming into play in the end of March.  Futures have generally followed expectations based on supply and demand factors and the economy which would show indications of future demand.  Generally weak fundamentals for the markets should curtail any large rallies in the near term.  

]]></description><guid>20 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=20</link></item><item><title>U.S. Trade Deficit;  Biggest Drop Since 1996</title><pubDate>Thu, 09 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[Economic data released today included the biggest one month drop in the trade deficit since 1996.
Rising layoffs were a major factor in slowing consumer spending while exports rose 1.6% after falling 6% for 3 months in a row.  U.S. Trade deficit dropped to $26Billion from $36.2Billion in Jan.  Imports were down 5.1% basically due to consumers purchasing a lot less.  This is very helpful towards global rebalancing and good for the dollar.  The U.S. china trade gap was at the smallest level in 3 years.  This should show up as a less of a drop in GDP numbers in the 1st and maybe 2nd Quarters.  Jobless claims were at 654,000 above 600,000 for 10 weeks still showing a great deal of weakness but may be stabilizing.
Exports were up 1.9% which helps produce the drop in todays trade numbers. 
]]></description><guid>19 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=19</link></item><item><title>Wells Fargo projects 3B in Profits for Q1</title><pubDate>Thu, 09 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[Shares of Wells Fargo soar today April 9 setting a positive tone to the market.  A surprisingly upbeat preliminary report release today,
Howard Atkins CFO for Wells Fargo stated this morning that a sharp increase in deposits along with excellent increases in the mortgage business should lead to first quarter EPS of about 55 cent vs. the 26 cents estimated.  Better than expected 4.1% net interest margins and a successful Wachovia deal &#34;one of the largest banking acquisitions in U.S. history&#34; made us want to come out early and announce the news.
]]></description><guid>18 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=18</link></item><item><title>Crude Oil Reverses after Lower Inventory Numbers Released</title><pubDate>Wed, 08 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[Oil prices were down sharply Wend morning April 8, 2009 continuing into its fourth day of sliding prices.
Yesterdays NYMEX crude oil contract was down 3.7% but prices suddenly reversed after the crude oil market responded positively to the EIA report release at 10:30 this morning.  The market was anticipating a big build up in overall inventory on top of yesterdays API American Petroleum Institute stronger than expected numbers.  To ad to this mornings bearish sentiment UBS cut expectation for crude levels also downgrading Conoco Philip to neutral sighting production problems and problems with its integration with Chevron.  

At 11:30am crude oil rallied from its low of 47.5 to just under 51 dollars per barrel for the QMK9 contract.  
The report said that U.S. crude oil refinery inputs averaged nearly 14.3 million barrels per day 
During the week ending April 3, up 129 thousand barrels per day from the 
Previous week s average. Refineries operated at 81.8 percent of their operable 
Capacity last week. Gasoline production increased last week, averaging nearly 
9.0 million Barrels per day. Distillate fuel production increased last week, 
Averaging 3.9 million barrels per day.]]></description><guid>17 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=17</link></item><item><title>Was that a Bear Market Rally? </title><pubDate>Tue, 07 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[We are now getting into the heart of earning season starting today with Alcoa announcing after the closing bell.
Alcoa is down 3% ahead of todays earnings announcement.    The question on traders minds is will this earrings season take away the gains made from this most recent rally?  The market is waiting to see if this was a bear market rally or the real thing signifying that we passed the bottom and we are on our way higher.  Some traders are looking closely at the guidance some CEOs are giving to see if there is any optimism on the horizon.  There are some positive signs coming from the restaurant and consumer companies with mixed signs and some indicating that things may be looking better in the 2nd half of the year.  Many people are worried about a lot more than just earnings.  People are paying attention to the stress test and worrying about GM and the June 1 delaines.  As far as this earnings season people are expecting such bad numbers that if the worst is not realized we could see a market bounce. 
   

]]></description><guid>16 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=16</link></item><item><title>GM Bankruptcy?</title><pubDate>Tue, 07 Apr 2009 04:20:49 GMT</pubDate><description><![CDATA[GM is trying to speed up its efforts to slim down the company but the bottom line is that they have not yet gotten concessions from unions and bond holders in order to survive outside bankruptcy court.  GM is now looking for even deeper cuts than before.  GM executives will be meeting with treasury officials and auto task force member this week to get more guidance from the government.  GM also needs to show that they can come up with more fuel efficient vehicles at the same time as showing the government that they will be a viable business into the future with greener cars.  Introduced today GM and Segway are developing a two-wheeled, two-seat electric vehicle called P.U.M.A. standing for: Personal Urban Mobility and Accessibility.  This is a prototype vehicle which will have a top speed of 35 miles per hour and travel 35 miles before needing to be recharged.  ]]></description><guid>15 at http://www.charttrader.com</guid><link>http://www.charttrader.com/news-detail.php?id=15</link></item></channel></rss>