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Best Economy In The Americas – Brazil

Tue, 16 Jun 2009 18:06:00 GMT

Wall Street tends to take a very myopic view of the world – the view that the entire financial universe revolves around them and the United States. And that what goes on in other countries is unimportant.[More...]

Second Bullish Intraday Reversal In-A-Row Comes On Lower Volume; For The Week, Stock Indexes Pullback On Higher Volume

Sun, 18 Jan 2009 19:42:00 GMT

It was a fitting end to a week that saw emotions pull dramatically at first to the bear side then to the bull side before the week came to end. Today, like yesterday, saw the market selloff early on only to see the bulls pull out an amazing display of confidence as indexes reversed and closed in the green on both Thursday and Friday’s trading session. The same market action that was seen on Thursday and Friday was also seen this week during the past five session. Stocks started the week on a very weak note, sending me from 11 small longs to 5 smaller longs as some recent stocks that I went long gave me signals that they were not ready to blast off and make runs higher quickly. But there was a slight hint that the turn down might not last long. What was that hint? It was the fact that I could only generate ONE NEW short position during the first three days of this very weak week. The Nasdaq fell 5.2% but I only had ONE NEW short that setup in what I[More...]

Nice Rally Today Too Bad It Was On Below Average Volume

Thu, 04 Dec 2008 01:05:00 GMT

Today’s rally, while it probably made you feel all nice and warm on the inside, was still as cold as the grips of a long term bear market. Why? The leadership, silly. The leaders are all still coming from groups that reside in the bottom 25% of industry groups. When you have a real bull market from a bottom you can be FOR SURE that the top 25% of industry groups based on price performance will be leading the way. Right now, there is only one area of leadership, and I am sorry folks that is not going to cut it. That group is the education stocks which are being helped by the only recent IPO out there in LOPE. Besides that we really do not have any amazing group leading. Business Services is such a diversified area that while some stocks look great some look horrible. The facts of a bull market show that in a real bull market rally leading stocks in leading groups help lead the market higher. What we could have here is a bear market[More...]

All Net-Nets Not Created Equal

Tue, 02 Dec 2008 14:17:00 GMT

Ben Graham, oft considered the father of value investing, found that buying companies trading at a 33% discount to their Current Assets minus Total Liabilities offered investors great returns. The idea is that even at liquidation the investor will get more than his investment, but chances are things will turn around before that's required. For many years, stocks trading at such discounts were near impossible to find in North American markets. Today is a different story, however, as fear has driven the market to such levels that once again stocks such as these exist in droves. But[More...]

Stocks Resume Selloff As Distribution Day Rattles Investors Who Bought Last Weeks LAME Rally

Tue, 02 Dec 2008 05:33:00 GMT

Do people not pay attention to volume at all? I am starting to begin they don’t after listening to all the typical talking loud-mouths this weekend. They all clamored and were happy the indexes were up 15% to 20% last week. Yet not a single person anywhere mentioned that volume was lower and lower each day as the rally went along. They also did not mention that we were right near/at the 50 day moving averages which are in a downtrend on all the indexes. Leaving these two key facts out made anything they said irrelevant. There was always a possibility of waking up and seeing a market running away today but the truth is this market is predictable yet insanely impossible to trade unless you are a daytrader. After my initial short positions before the selloff really started, things have been harder to manage as shorts are not going down in a smooth line like they should in a bear market. This is making for a very difficult trading environment and why unless[More...]

Stocks Continue The Selloff With Volume Finally Picking Up On The Selling

Fri, 21 Nov 2008 04:00:00 GMT

Today can be called nothing other than nasty as most of the indexes made round trips back to either six-year or eleven-year lows, following a nasty selloff that came on very heavy volume. Volume picked up on every exchange as finally some signs of panic selling hit the market. This selling took the markets off around 5% to 6% and a lot of stocks were just walloped. Now while I have continued to talk about the nasty downtrend this market is in and how well my shorts have been doing: top short holdings and total returns: IPHS 44% POT 65% GGB 72% SBAC 66% CYT 69% MOS 74% CETV 89% CPRT 28% AZO 24% RDK 17% AMX 49% PLCE 38% CAJ 34% SPG 52% CEO 51% AAPL 50% ENB 24% K 18% ARB 67% AMSG 20% SPW 77% RIMM 58% LLL 37% CEDC 65% APD 55% OKE 46% SDA 80% TITN 59% PAA 28%). I don’t believe I have seen the market in such a bleak condition in a long time and think I need to tell you about the lack of bullish items out there. To start it all off only 3% of[More...]

The Recent Rally Attempt Is Dead As Three Of Four Major Stock Market Indexes Make New 52-Week Lows

Thu, 20 Nov 2008 04:53:00 GMT

It was a brutal day if you were a falling knife catcher as the market took those impatient bulls who believed the lows were in out and beat them silly with a 6.5% loss on the Nasdaq, a 6.6% loss on the NYSE, and a 6.1% loss on the SP 500. The losses were made even more damaging by the fact that they hit new lows from the recent rally attempt and volume picked up giving the market a very heavy distribution day. This distribution day adds to the pressure the market is facing as each and every day passes. The market in terms of the Nasdaq and Nasdaq 100 are now down over 51% from the October 2007 highs. These losses have been extremely damaging to the psychology of many market players and has done some major damage to individuals portfolios. This sad news is made even more sad knowing that the market does not appear to be near a low–at least as far as the market is currently concerned. This is obvious to me via the volume that is coming[More...]

Stock Market Indexes Start The Week Off With A Low Volume Selloff; All Indexes Are Holding Thursday’s Lows

Tue, 18 Nov 2008 01:09:00 GMT

Stocks did what they have been doing for the entire past thirteen months and that was finishing with a lower close. This weak close was made worse in that it was yet another volatile late day move. This time it was a rollover to the downside with the indexes finishing right near their lows-of-the-day. This very weak close was very nasty to see but some consolation can be taken with the low volume that came with the selling. That lower volume was the second straight day of a lower volume pullback that has come since the reset of the rally attempt on Thursday. On Thursday the market dipped to new lows on a few indexes that reset the previous rally attempt. However, by the close, the market reversed to a very bullish close on much higher volume. That put market players who have been watching this selling for thirteen months now in a better mood. The pullback the past two days have made some pretty upset that the market[More...]

Another Day, Another Selloff; Higher Volume On The Selloff Indicates Fear Is Rising

Thu, 13 Nov 2008 13:25:00 GMT

It was yet another day of huge losses for the stock market as most indexes are now down over 45% for the year. This kind of market action is enough to make a lot of people sick. But that is the last thing you want to do here, especially with the selloff starting to slightly hit panic levels. Now, I am not saying that we are near a bottom what-so-ever. But what I am saying is that we are getting a little crazy with the selling and that should lead to a rally in the near term. However, before that rally occurs, I expect that we will more than likely set new lows on all the indexes. One of the reasons I believe that is possible is because after today’s session I saw that ZERO stocks on the NYSE or Nasdaq hit new 52-week highs, while over 415 stocks on each index hit new 52-week lows. This number of new lows expanding along with the non-numbers in the new highs is my warning that the market is not done with the selloff, even though it has[More...]

Without Capitulation Volume We Can Just Keep Selling Off

Wed, 08 Oct 2008 18:27:00 GMT

I am too tired to add anything new to the commentary that I have written the past few days as there is nothing else to say about this market except that is U G L Y!!!! I do want to show you what you NON-subscribers missed the past three months that those at BWT did not miss. So you think everybody lost money the past three months. NOT HERE. top shorts and total return since entering: POT 46% CEDC 29% APD 35% CAJ 25% CEO 28% OKE 33% ATHR 20% CYT 40% AMX 35% RIMM 44% MOS 60% AAPL 44% TITN 35% SBAC 50% CETV 52% GGB 55% SDA 63% SPW 58% HXM 52% Gold and Platinum subscribers can watch the 14 minute long Market Wrap Video on the forums or from the link in the chat room. The youtube free version will be posted later tomorrow. It will be broken up into two parts. Enjoy Gold and[More...]

BSP holds rates steady to support reconstruction

Fri, 06 Nov 2009 07:50:00 GMT

Nov. 6--THE Bangko Sentral ng Pilipinas (BSP) on Thursday decided to keep its key policy rates steady, confident that the typhoon-induced calamities would have a limited impact on food prices.
In a press briefing, BSP Governor Amando Tetangco Jr. said the Monetary Board maintained its overnight borrowing or reverse repurchase (RRP) rate at 4 percent and the overnight lending or repurchase (RP) rate at 6 percent.
The latest inflation forecast reflected a slightly higher path, but remained closer to the lower bound of the target over the policy horizon," Tetangco said.

[More...]

Bangko Sentral 'Hoarding' Money, Says Economist

Sat, 17 Oct 2009 05:52:00 GMT

Oct. 17--AN economist from the University of Asia and the Pacific (UA&P) said the Bangko Sentral ng Pilipinas (BSP) is preventing the domestic economy in recovering faster from the current global slump .
Vic Abola said the BSP is "hoarding" money in its vaults by refusing to bring down further its policy rates.
"With so much money hoarded in BSP's vaults, the national government and corporate bond issuers have had to pay higher interest rates on their debt issues," he added.

[More...]

Ugh. Why Don't Men Wash Their Hands After Using the Restroom?

Wed, 07 Oct 2009 07:47:00 GMT

Oct. 7--With flu season upon us, health professionals say we should avoid unnecessary physical contact.
But there's another reason I tend to avoid gripping men's paws, and that is that you can't be sure where they've been.
my friend Sarah responded when I posted on Facebook the amazing fact that as many as one in three American men do not wash up after using the bathroom.

[More...]

Citibank Sees Return of Fiscal Restraint

Sun, 26 Jul 2009 18:51:00 GMT

The government will observe fiscal and monetary prudence next year despite the scheduled nation elections, Citibank said.
In its report, the US financial giant said the Philippines has sketched a rough outline of its exit strategy, consisting of a return to a modest fiscal budget next year with expenditure growth of 5 percent.
"Such policy signals are meant to assure the markets and investors that there is a definite end to stimulus measures that in our view the economy can ill afford to bear," June Trinidad, Citibank analyst said.

[More...]

Special Window Lures Many Depositors

Mon, 06 Apr 2009 16:57:00 GMT

Apr. 7--BSP data showed SDAs grew by P20.3 billion to P401.6 billion last year from P381.3 billion in 2007.
The SDAs have been increasing since the BSP implemented liquidity management measures allowing trust entities to make placements in the facility.
This measure encourages Government Service Insurance System (GSIS), Social Security System (SSS) and other government-owned and -controlled corporations (GOCC) to deposit funds with the BSP.

[More...]

BRF - BRASIL FOODS S.A. Material Fact

Tue, 18 Aug 2009 21:49:00 GMT

SAO PAULO, Aug. 18 /PRNewswire-FirstCall/ -- The management of BRF BRASIL FOODS S.A., formerly named Perdigao S.A. ("BRF" - Bovespa: PRGA3; NYSE: PDA) and SADIA S.A. ("SADIA" - Bovespa: SDIA3 and SDIA4; NYSE: SDA; LATIBEX: XSDI; and, together with BRF, the "Companies"), hereby announce that, under the terms of CVM Instruction no.
358/02, on August 18, 2009, special shareholder meetings of the Companies were duly called and held, and, among other matters, the Companies' shareholders approved the merger of SADIA's common and preferred shares by BRF, except for the shares held indirectly by BRF (the "Merger of Shares"), resulting in an increase of BRF's share capital in the amount of R$2,335,484,255.61, through the issuance of 59,390,963 common shares, with no par value.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090710/SPF002LOGO )

[More...]

Perdigao and Sadia Sign an APRO Agreement with CADE

Fri, 10 Jul 2009 15:37:00 GMT

On July 7 the Administrative Council for Economic Defense - CADE signed a Transaction Reversibility Preservation Agreement with Perdigao and Sadia with respect to the Association Agreement between the two companies.[More...]

Perdigao S.A. Announces Material Fact

Thu, 04 Jun 2009 19:34:00 GMT

The managements of PERDIGAO S.A. and SADIA S.A. , pursuant to CVM Instruction 358/02, wish to notify the market at large that the conditions for implementing the Association Agreement mentioned in the Material Fact published on May 19, 2009 have been complied with, namely: the adhesion of the signatory shareholders pursuant to the vote of PERDIGAO; the adhesion of the shareholders of SADIA representing more than 51% of common shares issued by SADIA, and the indication to PERDIGAO of the group of shareholders of SADIA which shall commit to acquire, either directly or indirectly, the shares issued by Concordia Holding Financeira S.A.[More...]

Perdigao and Sadia Association Agreement

Tue, 19 May 2009 14:40:00 GMT

This business combination involves the securities of a Brazilian company. The business combination is subject to disclosure requirements of Brazil that are different from those of the United States.[More...]

Pomerantz Haudek Block Grossman & Gross LLP Reminds Sadia S.A. Investors of January 5, 2009 Deadline -- SDA, SDIA3

Wed, 24 Dec 2008 19:10:00 GMT

Pomerantz Haudek Block Grossman & Gross LLP would like to remind investors of Sadia S.A. that January 5, 2009 is the deadline to request that the Court appoint you as Lead Plaintiff in the class action. Pomerantz filed an action ), against the Company and certain officers of the Company on behalf of those investors who purchased the Company's American Depository Receipts between April 30, 2008 and September 26, 2008 . The complaint alleges violations of Sections 10 and 20 of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the SEC.[More...]

Cohen Milstein Sellers & Toll PLLC Announces Class Action Lawsuit on Behalf of Investors in Sadia S.A.

Wed, 10 Dec 2008 13:47:00 GMT

The law firm Cohen Milstein Sellers & Toll PLLC has filed a lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of American Depository Receipts (“ADRs”or “shares”) of Sadia S.A. (“Sadia” or the “Company”) (NYSE: SDA) between April 30, 2008 and September 26, 2008 inclusive (the “Class Period”).[More...]

Labaton Sucharow Filed Class Action Lawsuit Against Sadia S.A. -- SDA

Mon, 08 Dec 2008 23:54:00 GMT

Labaton Sucharow filed a class action lawsuit on December 1, 2008 in the United States District Court for the Southern District of New York, on behalf of all purchasers of the American Depository Receipts of Sadia S.A. between April 30, 2008 through September 26, 2008, inclusive .[More...]

Klafter Olsen & Lesser LLP Announces That a Class Action Lawsuit Has Been Filed Against Sadia S.A.

Mon, 08 Dec 2008 23:14:00 GMT

WASHINGTON, DC -- -- 12/08/08 -- Notice is hereby given that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of American Depository Receipts of Sadia S.A. between April 30, 2008 and September 26, 2008, inclusive . As discussed below, if you are a member of the class described above, you may, not later than January 5, 2009, move the Court to serve as lead plaintiff of the class.[More...]

Pomerantz Haudek Block Grossman & Gross LLP Reminds Investors of Sadia S.A. of Lead Plaintiff Deadline -- SDA, SDIA3

Fri, 05 Dec 2008 22:02:00 GMT

Shareholder Class Action Filed Against Sadia S.A. by the Law Firm of Barroway Topaz Kessler Meltzer & Check, LLP

Wed, 26 Nov 2008 21:55:00 GMT

The following statement was issued today by the law firm of Barroway Topaz Kessler Meltzer & Check, LLP:[More...]