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Dave Fry's Market Comments For July 8

Wed, 08 Jul 2009 22:29:55 GMT

MARKET COMMENT July 8, 2009 We had a lot more volume than we’ve seen recently. Short-term equity markets are much oversold while commodity markets continue to get hammered big time. The entire day can be summed up with just those two sentences. But now we have earnings upon us and Alcoa is kicking things off with unremarkable results.[More...]

Dave Fry's Market Comments For July 6

Tue, 07 Jul 2009 00:02:23 GMT

MARKET COMMENT July 6, 2009 A lot is being written, at least in the blogosphere about the high frequency trading program pilfered from Goldman Sachs. (The first article is here and you can follow many more at other sites.) The questions being asked are pointed and terrific. For example, is the recent downturn in volume because Goldman’s computers were shut down for fear they were compromised?[More...]

Dave Fry's Market Comments For June 29

Tue, 30 Jun 2009 00:36:29 GMT

MARKET COMMENT June 29, 2009 I thought this deliberate end-of-month/quarter shenanigans were against the rules right? Oh, they don’t enforce this type of activity—never have, never will. Anyway, with volume ultra-light, or absent bullish news for that matter, propping markets can be done with ease since it takes just a little paint to push things in the desired direction. Breadth was positive but volume was beneath significant.[More...]

Dave Fry's Market Comments For June 25

Fri, 26 Jun 2009 00:03:29 GMT

MARKET COMMENT June 25, 2009 Okay, sometimes it’s good to miss a couple of days. Everything and nothing has happened. Yesterday it was the amazingly boring and meandering Fed statement that had a little something for everybody. (How many “buts” can you stuff in this thing?[More...]

Dave Fry's Market Comments For June 22

Tue, 23 Jun 2009 01:25:44 GMT

MARKET COMMENT June 22, 2009 The story is front and center: GS is reported (later denied) able to pay huge bonuses to employees this year. (Guardian story is here.) How can this happen especially now? TARP money to trade with thanks to US taxpayers.[More...]

Dave Fry's Market Comments For June 16

Tue, 16 Jun 2009 22:32:01 GMT

MARKET COMMENT June 16, 2009 Bulls got some early cheer from homebuilders but that quickly faded with a (ahem) worse than expected decline in industrial production. Bulls need a catalyst and a stronger flow of funds to markets. Now it seems many are either just bored with conditions or lack motivation born by an inflow of fresh funds. Volume remains as light as a slow day in mid-August.[More...]

Dave Fry's Market Comments For June 15

Tue, 16 Jun 2009 00:58:46 GMT

MARKET COMMENT June 15, 2009 The only positive from today is Monday’s have proven to be good buying days of late. But that’s the only thing. Clearly some complacency (“the bottom’s in” and etc) combined with light volume (SPY traded only 180 million shares Friday) allowed markets to be pushed higher by those who could do it. Getting sucked in with them has always been the danger as the game often is to dump their accumulated stock to you once you step in.[More...]

Dave Fry's Market Comments For April 28

Tue, 28 Apr 2009 22:25:58 GMT

MARKET COMMENT April 28, 2009 I wish my Money & Banking class in college was this easy—hell, even gym was hard by comparison to current bank stress tests. Basically it’s an open book test allowing banks to set their own evaluations on some toxic waste and hope investors take it all in stride. The false and misleading statements from CEOs like BAC CEO Ken Lewis are, in ordinary times, shocking. These days it passes for business as usual.[More...]

Dave Fry's Market Comments For April 15

Wed, 15 Apr 2009 23:10:15 GMT

MARKET COMMENT April 15, 2009 Some talking heads were cheering the Fed’s Beige Book which offered a “glimmer” of hope that the worst was over and we’ve bottomed. More likely it was more pumping of financials led by JPM in anticipation of stronger than expected (who knew?) earnings. Look, the bulls still are in control and they’ll latch-on to whatever works for them.[More...]

Dave Fry's Market Comments For April 6

Tue, 07 Apr 2009 01:15:00 GMT

MARKET COMMENT April 6, 2009 One can never know which is which? All I know is when the underlying trend is bullish Monday’s are often buying opportunities as things generally improve throughout the week with perhaps some squaring-up on Friday. That’s about the boldest observation I can make today. What should drive prices this shortened week are earnings reports.[More...]

GDF SUEZ, Gulf Investment Corporation Achieve Financial Close on Al Dur Independent Water and Power Project

Sun, 26 Jul 2009 19:46:00 GMT

Jul. 26--Gulf Investment Corporation (GIC) and GDF SUEZ have completed the limited recourse financing of the $2.1 billion Al-Dur Independent Water and Power Producer (IWPP) project (the Project), the largest privately-owned industrial project in Bahrain.
On the 28th of August 2008, the Project was awarded to GDF SUEZ and GIC by the Bahrain Ministry of Finance following an international competitive tendering process.
GIC and GDF SUEZ upheld their commitment to the Government of Bahrain and equally-funded project work, where the Project is presently almost 30% completed and is expected to meet the target completion dates agreed with the Government of Bahrain.

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