Submitted by OptionDragon

The Postal Service - Such Great Heights

There as heavy buying in the Vix calls yesterday that should be mentally noted, if you look at the Vix charts, it looks to trend up possibly from here. Keep an eye on it, it could foretell a possible drop to test the Jan lows of 1300 zone in the S&P.
Last night, Dennis Gartman on Fast Money went bullish on Gold again after being bearish for about 2 weeks. What doesn’t go down due to technicals must go back up after consolidating at this range. The goal to $1000 is on. He also said short GM due to platinum prices and GM has to make millions of catalytic converters which will be more expensive to manufacture.
STV beat and raised and is gapping up. STV reports Q4 EPS 22c vs. consensus of 18c
Reports Q4 revenue $19.7M vs. consensus of $17M. Sees Q1 revenue $15M-$17M vs. consensus of $15.24M. Sees FY08 revenue $79M-$84M vs. consensus of $78.76M.
Also on the China front, WSJ said that a China Telecom consolidation could be announced next month.
“China is expected to restructure its telecom industry, consolidating six state-run operators into three, which each offering a full range of services, and that could open the market to global equipment firms. An announcement is expected in March, according to the Wall Street Journal. In a state-run radio report yesterday, China Mobile Communications (CHL) would merge with China Tietong Telecommunications Corp. China Telecommunications Corp., the parent of China Telecom Corp. (CHA), would take over a wireless network from Unicom’s (CHU) China United Telecommunications Corp. And what’s left of China United would combine with China Network Communications Group, parent of Netcom (CN). Finally, China Satellite Communications Corp. would merge into a state-owned aerospace industry group.”
CNBC just reported that an MBI decision on its AAA rating could come in the next couple days. Again more downgrade talks which if happens would negatively affect the markets.