: iStockAnalyst.com Symbols Feed

S&P 500 Near New Highs

Wed, 10 Mar 2010 15:28:58 GMT

The stock market is higher again this morning, defying those who continue to call for a pullback. I have been talking about how even though the market had become overbought, instead of pulling back it mostly went sideways while the overbought condition got worked off. This was a positive sign, and as you can see in the chart below, the oscillator has confirmed the recent highs in the market by making a higher high.[More...]

A Failing Trend In Financials

Mon, 16 Nov 2009 22:21:56 GMT

If you've been following the movements within the individual sectors lately, you've probably noticed the lack of participation in behalf of the financial sector. In a quick comparison, using the 10 principal sectors of the S&P, take a look at who has the lowest current RSI reading. One might look at this and think that the group still has catching up to do. The XLF call volumes were pretty heavy today, especially in Nov expiry's, but what I find interesting is that the bullish percent for the financial sector, is the fourth highest reading among sectors. The XLF traded well today, until 3 pm ET, where it completely fell apart into the close,[More...]

Will Underperformance By Banks Contaminate The Market?

Mon, 09 Nov 2009 04:03:02 GMT

The Financial sector led us into the market meltdown of the past couple of years. Since the market bottomed in March, however, Financial shares have led us higher. So what is this important sector, specifically the Banks, telling us now?[More...]

Down Day Brings Back The Uptick And Ban Shorts!

Fri, 08 May 2009 14:09:09 GMT

The market finally had a down day. But although it looked the bears would regain control of this out of control bull train. The bulls came back and kept the SPX above 900. Had the market dropped anymore, screams for the uptick rule would have started since the bulls are the biggest sore losers since the Hawks from Mighty Ducks the first one. The top of the trendline held as resistance for the market. The SPX also had the most volume in the last couple of weeks on a down day.[More...]

Daily Report For Thursday, Apr 16, 2009

Thu, 16 Apr 2009 13:36:24 GMT

(8:25am ET) The main focus of traders today will be the 1Q2009 earnings report from JP Morgan (JPM), and the close scrutiny of the data and hype that will follow. After hitting a low of $14.93 in early March, JPM has rallied +118.1% to yesterday’s close of $32.56. There was a high of $34.15 on Tuesday. http://tinyurl.com/da6dcv JP Morgan reported Q1 net income of $2.14 billion, or $0.40/share, down -10% from a year earlier, but beat analysts' expectations. Revenue increased +48% to $25.03 billion. WSJ reported that CEO Jamie Dimon said the firm extended about $150 billion in new credit to consumer and corporate customers during the quarter. With a last hour rally spurred by the real estate investment trusts (REITS) ($DJR +8.7%) and Banks ($BKX +5.1%) in the Financial sector (XLF +4.8%), the US equity[More...]

Daily Report For Tuesday, Apr 14, 2009

Tue, 14 Apr 2009 14:18:59 GMT

(9:30am ET) Stocks in NY sank at the open following various negative reports from TV talking heads, though trade volume was weak on the Easter Monday. After the close, Goldman Sachs surprised with unusually positive revenue and earnings. Today, President Obama will be making a speech on the state of the economy. Traders are confused. Yesterday was pretty much a lost day in the market. Very little of consequence happened. By the close, the DJIA’s small loss (-25.57 -0.32% to 8057.81) offset the small gain in the S&P (+2.17 +0.25% to 858.73), while the NASDAQ (+0.77 +0.05% to 1653.31) was flat. The Toronto Composite (+98.50 +1.07% to 9285.6) and the Toronto Venture Board (+11.89 +1.23% to 980.86) were stronger as the metal miners and goldminers enjoyed a good day. Except for Japan’s Nikkei 225 index (-0.92% to 8842.7), prices today were strong in the major international equity markets: Australia (+2.22% to[More...]

Daily Report For Tuesday: Apr 7, 2009

Tue, 07 Apr 2009 13:31:58 GMT

(8:05am ET) Stocks closed Monday's session in NY lower on a lightly-traded day, but much higher Week over Week. Through Friday, the major market indexes saw their largest four-week gains in seventy-six years. Now the market is preparing for 1Q2009 earnings season, which gets underway today with Alcoa (AA). On Monday, the DJIA (-41.74 -0.52% to 7975.85), S&P (-7.02 -0.83% to 835.48), and NASDAQ (-15.16 -0.93% to 1606.71) could not make headway against concerns the major banks may be preparing to release negative quarterly reports. The Toronto Composite (-49.59 -0.55% to 9016.17), and Venture Board (-12.42 -1.27% to 963.17) were also down on the day, but higher Week over Week. In international equity markets today, the closing prices showed losses except for Shanghai China (+0.80% to 2439.2): Australia -1.30% to 3648.5; Hong Kong -0.46% to 14929.0; India -1.80% to 10534.9; and Japan -0.28% to 8832.9. At 7:30am ET,[More...]

How To Spot The Bottom

Thu, 19 Mar 2009 14:13:00 GMT

Was that the real thing? Is this the new bull?Just as the consensus was forming that the rally from the lows last week was the start of a bear market rally (example here), the Fed announced that it invented another tool to throw money at the financial system by buying U.S. Treasury bonds at the long end of the yield curve. The announcement sparked off a stock market rally that took the S&P 500 to an interim resistance level of 800.What now?What’s more, Merrill Lynch’s institutional survey shows increasing levels of bullishness among fund managers. If they start to put money back into the market, the funds flow[More...]

Daily Report For Friday, Mar 13, 2009

Fri, 13 Mar 2009 15:55:00 GMT

(9:48am ET) Equity market prices lifted pretty much from start to finish of Thursday’s session. Retail Sales, Jobless Claims and Business Inventories and comments from Barney Frank and Tim Geithner played a role in the general bullishness. The latter made comments on the dangers of ending the mark-to-market rule and instead believe subtle changes could be made in an effort to improve it. Pfizer (PFE) made a big splash with the announcement its Phase III trial of Sutent was stopped early as the drug showed a significant benefit in patients with pancreatic cancer. At the close, the DJIA (+239.66 +3.46% to 7170.06), S&P 500 (+29.38% to 750.74) and NASDAQ (+54.46 +3.97% to 1426.10) were up sharply for the second day in the past three. The Toronto Composite (+271.25 +3.39% to 8282.27) and Venture Board (+19.52 +2.37% to 843.42) were almost as strong. The winning sector by a wide margin was[More...]

Daily Report for Thursday, Mar 5, 2009

Thu, 05 Mar 2009 14:05:00 GMT

Daily Report for Thurs., Mar. 5, 2009 (7:57am ET) Equity markets made steady progress on Wednesday as Energy (XLE +4.8%) and Basic Material (XLB) stocks rallied from the opening bell, giving traders hope that an upside move was about to commence. By the end of the session, the DJIA (+149.82 +2.23% to 6875.84, still down from Friday’s 7062.93 close); the S&P 500 (+16.54 +2.38% to 712.87, still down from Friday’s 735.09); and the NASDAQ Composite (+32.73 +2.48% to 1353.74, still down from 1377.84) showed promise. The Canadian markets were also firm as the Toronto Composite gained +183.13 +2.40% to 7814.75 (down from Friday’s 8123.02 close), while the Venture Board gained just +6.88 +0.83% to 830.95 (down from Friday’s 861.66). Earlier in the day today, Asia-Pacific equity markets were mixed: Australia (+0.73% to 3148.8); Japan (+1.95% to 7433.5); and Shanghai China (+1.04% to 2221.1) were strong, whereas Hong[More...]

General Wesley Clark joins BNK Petroleum Inc.'s board

Tue, 21 Jul 2009 20:55:00 GMT

CALGARY, July 21 /CNW/ - BNK Petroleum Inc. (the Company/BNK)/(TSX: BKX) is pleased to announce the appointment of Wesley K. Clark, General, US Army (retired) to its board of directors. General Clark will be an independent director.[More...]

BNK Petroleum Inc. 2008 reserves report - PR Newswire

Mon, 30 Mar 2009 12:57:00 GMT

CALGARY, March 30 /PRNewswire-FirstCall/ - BNK Petroleum Inc. is pleased to announce the results of its December 31, 2008, independent reserves evaluation. The evaluation of the Company's Tishomingo Field in Oklahoma was conducted by MHA Petroleum Consultants, Inc. and was prepared in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. BNK has also completed SEDAR filing of its December 31, 2008 year end reports related to oil and gas reserves prepared in accordance with NI 51-101. These reports, which can be accessed electronically from the SEDAR website at www.sedar.com, include Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information, Form 51-101F2 - Report on Reserves Data by Independent Qualified Reserves Evaluator, and Form 51-101F3 - Report of Management and Directors on Oil and Gas Disclosure.[More...]

BNK Petroleum Inc. 2008 reserves report - CNW

Mon, 30 Mar 2009 12:55:00 GMT

CALGARY, March 30 /CNW/ - BNK Petroleum Inc. ("BNK" TSX: BKX) is pleased to announce the results of its December 31, 2008, independent reserves evaluation. The evaluation of the Company's Tishomingo Field in Oklahoma was conducted by MHA Petroleum Consultants, Inc. ("MHA") and was prepared in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. BNK has also completed SEDAR filing of its December 31, 2008 year end reports related to oil and gas reserves prepared in accordance with NI 51-101. These reports, which can be accessed electronically from the SEDAR website at www.sedar.com, include Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information, Form 51-101F2 - Report on Reserves ...[More...]

BNK Petroleum Inc. operational update

Thu, 05 Mar 2009 22:58:00 GMT

CALGARY, March 5 /PRNewswire-FirstCall/ - BNK Petroleum Inc. / is pleased to announce that it has applied for 720,000 acres of oil and gas exploration concessions in Eastern Europe which are prospective for shale gas. BNK hopes that it will be awarded the concessions in the next few months which would result in the Company having an 80% interest in the said concessions.[More...]

BNK Petroleum Inc. operational update

Thu, 05 Mar 2009 22:57:00 GMT

CALGARY, March 5 /CNW/ - BNK Petroleum Inc. (BNK or the "Company")/(TSX: BKX) is pleased to announce that it has applied for 720,000 acres of oil and gas exploration concessions in Eastern Europe which are prospective for shale gas. BNK hopes that it will be awarded the concessions in the next few months which would result in the Company having an 80% interest in the said concessions.[More...]

BNK Petroleum Inc. announces debt financing

Tue, 03 Mar 2009 21:07:00 GMT

CALGARY, March 3 /PRNewswire-FirstCall/ - BNK Petroleum Inc. is pleased to announce that it has entered into a letter agreement with Wells Fargo Energy Capital Inc. for a $50 million senior secured advancing line of credit facility which is expected to close in the next few weeks and will replace BNK's existing $7 million facility. The initial borrowing base under the facility is established as $29.5 million. The facility matures in 24 months from the execution of a credit agreement and bears interest at US base rate plus 3% and includes overriding royalties and net profit interests. The proceeds from the facility will be used to complete the balance of BNK's wells that have been drilled but not yet fracture stimulated and for working capital.[More...]

BNK Petroleum Inc. announces debt financing

Tue, 03 Mar 2009 21:06:00 GMT

CALGARY, March 3 /CNW/ - BNK Petroleum Inc. (TSX: BKX) is pleased to announce that it has entered into a letter agreement with Wells Fargo Energy Capital Inc. for a $50 million senior secured advancing line of credit facility which is expected to close in the next few weeks and will replace BNK's existing $7 million facility. The initial borrowing base under the facility is established as $29.5 million. The facility matures in 24 months from the execution of a credit agreement and bears interest at US base rate plus 3% and includes overriding royalties and net profit interests. The proceeds from the facility will be used to complete the balance of BNK's wells that have been drilled but not yet fracture stimulated and for working ...[More...]

BNK Petroleum Inc. announces sale of acreage and concurrent signing of Exploration Agreement

Wed, 03 Dec 2008 12:57:00 GMT

CALGARY, Dec. 3 /PRNewswire-FirstCall/ - BNK Petroleum Inc. / announces that it has executed a Purchase and Sale Agreement with a privately owned Delaware company , to sell approximately 2,800 acres of oil and gas leases which is not currently a part of the Tishomingo Field development, in Carter County, Oklahoma and an estimated 86,000 acres of leases in the Black Warrior Basin of Mississippi and Alabama for US$10 million. Concurrent with this Agreement, BNK has also entered into an Exploration Agreement with the Purchaser in regard to the Black Warrior acreage whereby BNK can earn up to a 50% working interest in a portion or all of the Black Warrior acreage by drilling a series of test wells on identified prospects. The exploration program requires BNK to pay for the Purchaser's share of costs in the test wells. BNK is currently projected to incur an expenditure of up to US$10 million in order to earn the 50% working interest. The first three wells are on a drilling schedule to begin by September 30th, 2009. Failure to commence any of these wells on scheduled dates could subject BNK to liquidated damages of $500,000 for each well. The transaction is expected to close in mid December. In addition BNK has agreed to allow the Purchaser to participate for a 20% interest, at its proportionate cost, in a new shale exploration project that BNK is currently reviewing.[More...]

BNK Petroleum Inc. announces sale of acreage and concurrent signing of Exploration Agreement

Wed, 03 Dec 2008 12:55:00 GMT

CALGARY, Dec. 3 /CNW/ - BNK Petroleum Inc. (the Company)/(TSX: BKX) announces that it has executed a Purchase and Sale Agreement (the "Agreement") with a privately owned Delaware company (the "Purchaser"), to sell approximately 2,800 acres of oil and gas leases which is not currently a part of the Tishomingo Field development, in Carter County, Oklahoma and an estimated 86,000 acres of leases in the Black Warrior Basin of Mississippi and Alabama for US$10 million. Concurrent with this Agreement, BNK has also entered into an Exploration Agreement with the Purchaser in regard to the Black Warrior acreage whereby BNK can earn up to a 50% working interest in a portion or all of the Black Warrior acreage by drilling a series of test wells ...[More...]

BNK Petroleum Inc. announces the closing of US $30 million credit facilities

Wed, 15 Oct 2008 01:41:00 GMT

CALGARY, Oct. 14 /PRNewswire-FirstCall/ - BNK Petroleum Inc. / is pleased to announce that it has closed its previously announced US $30 million credit facilities with the Energy Banking division of Capital One, N.A. through its wholly owned subsidiary BNK Petroleum Inc.[More...]