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To Quote Kanye West (JOYG, X, ZION)
Thursday, May 20, 2010 - 3:17pm | 125"I was flying, now I'm crashin, this is bad real bad, Michael Jackson" -Kanye West Well, that pretty much sums of the market over the last month. After a "melt-up" from early February to late April that couldn't be stopped, we have now come crashing back to Earth. Here are how some names have fared...
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Top Analyst Upgrades and Downgrades (AMZN, MT, CVS, DELL, FDX, GERN, GFIG, HPQ, RTP, UPS, WAG, WFC, WFMI)
Thursday, May 20, 2010 - 8:10am | 392By John Tamny of Forbes Market commentators are pointing to the dollar’s surge against other paper currencies, quiescent producer prices, looming government austerity in Europe, and “asset deflation” as signals of the monetary phenomenon that is deflation. All four pervert deflation’s true meaning...
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Bookkeeping: Closing Skyworks Solutions (SWKS) and Wyndham Worldwide (WYN)
Wednesday, May 19, 2010 - 2:28pm | 568I am going to close some minor positions here to make room for new names in the future. The general theme is sell weaker charts, and replace those names with stronger charts or "hot money" names that will bounce the next time the "all clear" signal sounds i.e. a Cleveland Cliffs (CLF) which is...
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Materials and Miners Crushed (JOYG, BUCY, FCX, CENX)
Wednesday, May 19, 2010 - 11:42am | 117Materials and mining stocks are getting absolutely clobbered today as investors shun the risk trade and dump anything commodity related. Here are how some key names are faring in early trading: Joy Global (NASDAQ: JOYG) is down $3.29, or 6.63%, to $46.37. Bucyrus International (NASDAQ: BUCY) is...
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Metals Reverse Early Gains (X, AA, FCX)
Tuesday, May 18, 2010 - 4:00pm | 135Shares of economically-sensitive metals stocks have reversed early gains and are now sitting on sharp losses. Commodities were up this morning as the euro strengthened. However, the euro reversed gains quickly and now sits on a fresh four-year low against the dollar. U.S. Steel (NYSE: X), which was...
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Gerdau Sells Off; Calls Sold (GGB)
Monday, May 17, 2010 - 12:40pm | 106Shares of Gerdau SA (NYSE: GGB) are falling hard today, currently trading off by 5.18% to $13.67. The stock has now broken down through the 200-day moving average, which is a significant, bearish signal. The stock is now trading below both the 50-day and 200-day moving averages. Gerdau SA is also...
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Expect A Euro Bounce And Bank It
Monday, May 17, 2010 - 12:02pm | 248Have you tried to find someone bullish on the Euro CurrencyShares Euro Trust (NYSE: FXE)? I have had no success in finding anyone out there that is bullish. What does that mean? It means I am moving to the bullish side on the Euro and slightly bearish on dollar. Why would I do this? The short...
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Markets Slump Again As Euro Falls
Monday, May 17, 2010 - 11:30am | 242The SPDR S&P 500 ETF (NYSE: SPY) hovers at the lows of the day and is slowly moving towards the double bottom from Friday. This will be short term support. It is all on the back of a fall in the Euro CurrencyShares Euro Trust (NYSE: FXE) in mid morning trading. The Dollar PowerShares DB US...
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Fast Money's First Moves For Monday (X, VXX, IBM, TAN)
Friday, May 14, 2010 - 6:32pm | 126The Fast Money crew offered the following trades for Monday, May 17th. Tim Seymour suggested shorting U.S. Steel (NYSE: X). Gary Kaminsky recommended going long volatility because he thinks fear will continue to go up next week. One way to play volatility from the long side is to buy the iPath S...
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Go With Goldman (X)
Friday, May 14, 2010 - 12:41pm | 216Yesterday Goldman Sachs (NYSE: GS) put U.S. Steel (NYSE: X) on its coveted "Conviction Buy" list. In the world of equities, this is akin to getting one's name on the list to attend the Academy Awards. But I digress.. Goldman's call was predicated on two things: an economic recovery, and U.S. Steel'...
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Metals Shine (X, AA, AKS, CENX)
Thursday, May 13, 2010 - 10:50am | 153Some metals and mining companies that have been laggards in 2010 are getting a boost today after Goldman Sachs upgraded a company in the industry. U.S. Steel (NYSE: X) was added to the Conviction Buy list at Goldman Sachs this morning. The firm said global steel production has rebounded and the...
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Company News for May 13, 2010 - Corporate Summary
Thursday, May 13, 2010 - 10:16am | 131• Goldman Sachs (NYSE:GS) added US Steel (NYSE:X) to its Conviction Buy List • Bernstein cut Devon Energy’s (NYSE:DVN) rating to "market perform" • HSBC (NYSE:HBC) lowered Semiconductor Manufacturing’s (NYSE:SMI) rating to "underweight" • Kohl's (NYSE:KSS) posted first quarter earnings of 64 cents...
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A Look At Passport Capital's Portfolio (DPS, X, ABX, PWRD)
Wednesday, May 12, 2010 - 5:32pm | 290Passport Capital LLC is a San Francisco based, global investment firm founded by John H. Burbank III in 2000. The firm manages approximately $2.8 billion in assets. Passport's investment process uses a combination of macroeconomic analyses to develop major themes and rigorous fundamental research...
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Materials Lagging Today (SPX, VIX, AA, X)
Tuesday, May 11, 2010 - 1:54pm | 110Volatility is leaving the markets once again today as the market pushes to fresh afternoon highs. The S&P 500 (SPX) is up 10.15, or 0.88%, to 1,169. The CBOE Market Volatility Index (VIX) is down 2.95, or 10.23%, to 25.89. The S&P materials sector is underperforming the broader market with...
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Benzinga’s Top Upgrades (ZEUS, VISN, CAKE, JBHT, CCO)
Tuesday, May 11, 2010 - 11:06am | 193Olympic Steel Inc (NASDAQ: ZEUS) was upgraded by KeyBanc Capital Markets from “hold” to “buy.” ZEUS’ shares closed at $27.13 yesterday. Olympic Steel has lost 16.68% year-to-date. Auriga upgraded VisionChina Media Inc (NASDAQ: VISN) from “sell” to “hold.” VISN’s shares closed at $3.81 yesterday....