Roger Biduk
By Ambrose Evans-Prichard
Too many steel mills have been built, too many plants making cars, computer chips or solar panels, too many ships, too many houses. They have outstripped the spending power of those supposed to buy the products. This is more or less what happened in the 1920s when electrification and Ford’s assembly line methods lifted output faster than wages. It is a key reason why the Slump proved so intractable, though debt then was far lower than today.
Thankfully, leaders in the US and Europe have this time prevented an implosion of the money supply and domino bank failures. But they have not resolved the elemental causes of our (misnamed) Credit Crisis; nor can they.
Excess plant will hang over us like an oppressive fog until cleared by liquidation, or incomes slowly catch up, or both. Until this occurs, we risk lurching from one false dawn to another, endlessly disappointed.
Roger Biduk
Justin Lin, the World Bank’s chief economist, warned last month that half-empty factories risk setting off a “deflationary spiral”. We are moving into a phase where the “real economy crisis” bites deeper – meaning mass lay-offs and drastic falls in investment as firms retrench. “Unless we deal with excess capacity, it will wreak havoc on all countries,” he said.
Mr Lin said capacity use had fallen to 72pc in Germany, 69pc in the US, 65pc in Japan, and near 50pc in some poorer countries. These are post-War lows. Fresh data from the Federal Reserve is actually worse. Capacity use in US manufacturing fell to 65.4pc in July.
My discovery as a journalist is that deflation is a taboo subject. Those who came of age in the 1970s mostly refuse to accept that such an outcome is remotely possible, and that includes a few regional Fed governors and the German-led core of the European Central Bank.
As a matter of strict fact, two- thirds of the global economy is already in “deflation-lite”. US prices fell 2.1pc in July year-on-year, the steepest drop since 1950. Import prices are down 7.3pc, even after stripping out energy. At almost every stage over the last year, in almost every country (except Britain), deflationary forces have proved stronger than expected.
Roger Biduk
Elsewhere, the CPI figures are: Ireland (-5.9), Thailand (-4.4), Taiwan (-2.3), Japan (-1.8), China (-1.8), Belgium (-1.7), Spain (-1.4), Malaysia (-1.4), Switzerland (-1.2), France (-0.7), Germany (-0.6), Canada (-0.3).
Even countries such as France and Germany eking out slight recoveries are seeing a contraction in “nominal” GDP. This is new outside Japan, and matters for debt dynamics. Ireland’s nominal GDP is shrinking 13pc annually: debt stays still.
Global prices will rebound later this year as commodity costs feed through – though that may not last once China pricks its credit bubble after the 60th anniversary of the revolution in October. My fear – hopefully wrong – is that we are being boiled slowly like frogs, complacent until it is too late to jump out of the deflation pot.
The sugar rush of fiscal stimulus in the West will subside within a few months. Those “cash-for-clunkers” schemes that have lifted France and Germany out of recession – just – change nothing. They draw forward spending, leading to a cliff-edge fall later. (This is not a criticism. Governments did the right thing given the emergency). The thaw in trade finance has led to a V-shaped rebound in East Asia as pent up exports are shipped. But again, nothing fundamental has changed. Deficit countries in the Anglo-Sphere, Club Med, and East Europe are all on diets. People talk too much about “liquidity” – a slippery term – and not enough about concrete demand.
Roger Biduk
Professor James Livingston at Rutgers University says we have been blinded by Milton Friedman, who convinced our economic elites and above all Fed chair Ben Bernanke that the Depression was a “credit event” that could have been avoided by a monetary blast (helicopters/QE). Under that schema, we should be safely clear of trouble before long this time.
Mr Livingston’s “Left-Keynesian” view is that a widening gap between rich and poor in the 1920s incubated the Slump. The profit share of GDP grew: the wage share fell – just as now, in today’s case because globalisation lets business exploit “labour arbitrage” by playing off Western workers against the Asian wages. The rich do not spend (much), they accumulate capital. Hence the investment bubble of the 1920s, even as consumption stagnated.
I reserve judgment on this thesis, which amounts to an indictment of our economic model. But whether we like it or not, Left or Right, we may have to pay more attention to such thinking if Bernanke’s credit fix fails to do the job. Back to socialism anybody?
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.c
Roger Biduk;
I’ve been writing for months that commercial real estate is the next to drop, hitting the financial sector.
When 600K-700K jobs are being lost each month, available office space soars because of office closings and I think it’s just a matter of time before the commercial real estate sector blows up.
Plus, because the consumer makes up ~70% of the U.S. economy and consumers aren’t spending (consumers who don’t have a job don’t have any money and the ones who do have jobs are afraid of losing them), stores in shopping malls are closing faster than you can say “Hey, what happened to Kmart?”
I expect the financial sector to open lower tomorrow morning possibly providing more great trading opportunities throughout the day.
http://bestcatanddognutrition.wordpress.c
U.S. stock futures indicated a second day of strong gains Thursday with bulls cautiously optimistic that the bear market, economic and financial crisis have bottomed.
S&P futures gained 15.1 points to 824 and Nasdaq 100 futures rose 23 points to 1,276. Dow industrial futures rose 133 points.
U.S. stocks surged yesterday, with the Dow Jones Industrial Average closing more than 150 points higher as investors chose to focus on the bright side of manufacturing data and auto-sales reports and ignored a worrisome labor-market survey. The broader Standard & Poor's 500 index rose 13.21 and the Nasdaq Composite rose 23.01 points.
Those who are bullish on stocks see signs that the bear market has reached a low, supported by the fact that a measure of pending-home sales ticked up in February, and the manufacturing survey showed improvement in March from February.
Roger Biduk;
"We have more and more evidence that the economy is heading for some stabilization and we see some leading indicators that show that the bottom could be near," said Gerhard Schwarz, head of global equity strategy at UniCredit Markets & Investment Banking.
Simon Denham, managing director of Capital Spreads, said if the Dow can break above 7,920 or even better, 8,000 "confidence would take a real shot in the arm." But he said traders should "keep their running shoes close as any disappointment over the G20 communiqué may spill over into a sharp move lower."
From the G20 meeting, fully underway in London, leaders are moving toward an agreement to "at least double" the International Monetary Fund's emergency resources to $500 billion, Stephen Timms, financial secretary to the British Treasury, told reporters. The fund currently has $250 billion in lending capacity, which has been heavily tapped by more than a dozen bailout loans to struggling nations.
The U.K. spokesman also said leaders are likely to impose sanctions against countries that don't comply with a crackdown on bank secrecy rules.
Roger Biduk;
Economic data on tap for Thursday includes jobless claims and February factory orders, while bigger data looms Friday, including with non-farm payrolls for March.
Meanwhile, the Financial Accounting Standards Board, known as FASB is scheduled to vote Thursday on giving auditors more flexibility in valuing illiquid mortgage assets that may have a long-term value and strong cash flow. In other words, they are not distressed assets, but they cannot be sold in the markets today.
The European Central Bank meanwhile, cut key rates by a quarter point to 1.25%, a fresh record loss, but a smaller-than-expected cut that stunned markets. European stocks reined in some gains after the decision, but still sporting impressive gains, while the euro jumped against the dollar.
In London, the FTSE 100 was back above the 4,000 perch, up 2.4%, while the pan-European Dow Jones Stoxx 600 index rose 2.8%. Beaten down banks like HSBC Holdings and oil producers were making up the bulk of gainers.
Asia stocks rallied overnight. The Hang Seng soared 7.2% and the Nikkei 225 rose 4.4%.
Economic data on tap for Thursday includes jobless claims and February factory orders, while bigger data looms Friday, including with nonfarm payrolls for March.
http://bestcatanddognutrition.wordpress.c
You'd think the CDN$ and other currencies would be soaring against the US$, but in recent months it's been the US$ that's been crushing the major world currencies.
After all, the U.S. Treasury is working the printing presses 24/7, printing as much money as it can to support all the trillion dollar bailouts.
Granted, the US$ has come down in recent weeks but it's too early to say that a downtrend is firmly in place.
So, if this stock market rally is really just a bear-market rally (which I think it is), the CDN$ should fall along with the U.S. benchmark.
This should also apply to the Australian dollar and South African Rand whose economies, like Canada, are commodity driven.
Roger Biduk;
The greenback has always been a safe haven but many of the world's governments are worried about the U.S.'s ability to pay back its liabilities.
Just ask the Chinese.
On March 13, the Chinese government demanded that the United States "guarantee the safety" of the U.S. bonds held by China which amount to around $1 trillion.
The demand was made at the National People's Congress in Beijing by Chinese Premier Wen Jiabao, at a time when relations between the two superpowers aren't exactly at their rosiest.
"We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets," Wen said. "To be honest, I am definitely a little worried."
Looks like Wen is having a hard time sleeping these days (I’ve heard even watching his favorite Johnny Carson reruns aren’t helping).
Roger Biduk;
Historically, the Japanese have held more Treasury bonds than any other country till being surpassed by the Chinese last year.
Basically, I think it's really a lot of political talk for nothing, as usual.
If China stops buying U.S. debt (or worse, starts selling) it'll cost the U.S. government more to borrow, causing interest and mortgage rates to soar in the U.S.
Conversely, Americans will stop buying Chinese goods, sending the already shaky Chinese economy for even more of a loop.
According to JING SHI, China (CNN), in just the past months about 70,000 factories nationwide have closed.
Beijing official Chen Xiwen estimates about 20 million migrant workers have lost jobs. Tens of thousands of villages in the countryside depend on migrant workers' income.
Roger Biduk;
So basically it's bla, bla, bla.....
But this should make Chinese Premier Wen Jiabao and all of you feel better.
"There is no safer investment in the world than in the United States," White House spokesman Robert Gibbs said.
That certainly reassures me, doesn't it you...pass the soya sauce please…..
http://bestcatanddognutrition.wordpress.c
I think so, for three reasons.
There’s not much news coming out this week regarding the economy or corporate earnings. But the news that might come out on Thursday may make the market soar, big-time (Reason 3).
First off, everyone will naturally be watching the financial sector. The financials and many of the retailers have gotten smacked so bad that even the most pessimistic traders are looking to come in.
Plus, as I predicted last week the jobs numbers were going to be horrible and they were. But the markets didn’t have a bad reaction to it.
The once largest bank in the world is now trading at a buck (C). Can’t go much lower, can it? The risk/reward for a huge number of stocks out there is definitely to the upside.
Roger Biduk;
It’s really not hard to imagine a good-size bounce considering the S&P 500 (GSPC) & the Dow Jones (INDU) are down by more than 50% from their Oct./07 highs.
Remember, bear-market rallies are vicious to the upside.
I compare it to Boxing Day at Walmart with anxious shoppers waiting to pick up everything and anything on sale. All the shoppers are herded outside like sheep with their noses pressed against the door waiting for the store to open. Once that door opens and the first few come in, the rest of the sheep will follow.
Many market analysts wrongly called the bottom last Oct./Nov. as stocks continued to tank. Now, this could again be the case but I’m seeing the same type of base-forming that happened between Oct./02 and Mar./03, which was the last bear market.
As then as now, there’s a lower number of stocks hit new lows and that’s an important indicator.
Second, there’s the all-important “contrarian perspective”, which basically means do the opposite of what the rest of the sheep are doing.
As of last Wednesday, 70.3% of investors were bearish according to the AAII (American Association of Individual Investors). That’s the highest number the association has ever had since the index came about in 1987.
According to the AAII, over the last two months the index has been between 39 and 55 but last week soared to 70.3%.
Keeping with those numbers, for the week ending Mar.4 there was $29.9 billion pulled out of stocks and another $18 billion the week before (according to Trim Tabs).
Looks like the sheep are all following each other off a cliff.
Roger Biduk;
The third reason is a meeting that’s scheduled for Mar.12 by a House financial services subcommittee on the rules on mark-to-market accounting. Many billions of write-downs have been taken by banks because of this rule.
What mark-to-market accounting does is it requires assets to be valued at current market prices. Some banks say it forces them to mark down assets to artificially low prices in the current financial crisis, even when banks intend to hold the assets past the current reporting.
If the government relaxes or makes some changes to the rules for a year or two some financial stocks might go through the roof. A quick double for some isn’t out of the question.
While this isn’t a recommendation to buy any of these (always talk to your broker), here’s some ETFs (Exchange Traded Funds) on the U.S. markets that should do well in a bear-market rally:
Symbol | Description | Index/Benchmark | Daily Target |
Russell 1000 | 300% | ||
Russell 2000 | 300% | ||
Russell 1000 Energy | 300% | ||
Russell 1000 Financial Services | 300% | ||
MSCI EAFE Index | 300% | ||
MSCI Emerging Markets Index | 300% | ||
Russell 1000 Technology Index | 300% | ||
Russell Midcap Index | 300% |
And on the TSX:
Equities
Large Cap
ETF | Ticker Symbol | Expsoure | Underlying Index |
HXU | 2x Long | S&P/TSX 60 IndexTM | |
HSU | 2x Long | S&P 500® Index | |
HQU | 2x Long | NASDAQ-100® Index |
Canadian Equity Sector
ETF | Ticker Symbol | Expsoure | Underlying Index |
HFU | 2x Long | S&P/TSX Capped Financials IndexTM | |
HEU | 2x Long | S&P/TSX Capped Energy IndexTM | |
HGU | 2x Long | S&P/TSX Global Gold IndexTM | |
HMU | 2x Long | S&P/TSX Global Mining IndexTM |
Emerging Markets
ETF | Ticker Symbol | Expsoure | Underlying Index |
HJU | 2x Long | MSCI® Emerging Markets Index |
http://bestcatanddognutrition.wordpress.c
In Tuesday trading, shares of Bow Valley Energy (TSX: T.BVX) shot up 66% to 49 cents as the oil and gas producer/explorer said it has entered into an arrangement agreement for Dana Petroleum to acquire Bow Valley for 50 cents per share in cash, valuing the transaction at $240 million, including the assumption of net debt, liabilities and other obligations.
As well, Superior Mining International (TSX: V.SUI) shares surged 75% to 10.5 cents after the junior explorer reported that it has received assay results from an exploration drilling program at its Mangalisa property in South Africa, which included 0.45 metres of 45.8 g/t gold and 3.79 kg/t uranium.
Wednesday’s market action saw shares of Condor Resources (TSX: V.CN) shares climb 30% to 13 cents after the micro cap explorer reported results of a recent unsolicited drill hole on its wholly-owned Austral porphyry copper project in Chile. Copper values in the hole were anomalous, with numerous individual one metre core samples returning values of 1% to 1.1% copper and gold values ranging from negligible to 0.248 grams per tonne (g/t) gold. A cumulative 56 meters of core assayed more than 0.5% copper equivalent.
Rpger Biduk;
Also, shares of Yale Resources (TSX: V.YLL) soared 44% to 6.5 cents as the junior miner announced that it has signed a letter of agreement to purchase a 100% interest in the Urique gold/silver project in Mexico -- a total of sixteen concessions covering 29,100 hectares -- from its partner, EXMIN Resources Inc. Yale has agreed to pay US$250,000 and issue one million shares issued to EXMIN in two tranches.
On Thursday, Golden Chalice Resources (TSX: V.GCR) shares jumped 40% to 14 cents after the micro cap miner reported the latest results from the 2008 infill drill program that focused on the Langmuir Nickel Discovery on its wholly-owned Langmuir Property, southeast of Timmins, Ontario, which included 2.75% nickel over a drilled width of 24.4 meters.
In addition, shares of American Creek Resources (TSX: V.AMK) skyrocketed 140% to 12 cents as the junior explorer said the Preliminary Economic Assessment released January 8, 2009, by Seabridge Gold (TSX: T.SEA) indicates that Seabridge proposes to construct a 21.5 km underground tunnel to transport ore by conveyor from its KSM deposit to a mill and tailings pond to be constructed northeast of American Creek's Treaty Creek Project located in British Columbia. American Creek reports that approximately 13 km of the proposed tunnel extends through the heart of its property, intersecting multiple mineralized zones.
And, in Friday trading, Blue Note Mining (TSX: T.BN) reported that its wholly-owned subsidiary, Blue Note Caribou Mines, has obtained an order from the New Brunswick Court of Queen's Bench for creditor protection pursuant to the provisions of the Companies' Creditors Arrangement Act. Blue Note stock plunged 50% to a penny a share.
Finally, Phase Separation Solutions, a wholly-owned subsidiary of West Mountain Capital (TSX: V.WMT), said it now has commitments for PCB soil treatment services that exceed 75% of its treatment capacity for 2009 at its facility in Wolseley, Saskatchewan. West Mountain shares added 88% to 7.5 cents.
None of the above are stock recommendations, only illustrations of activity from the past week.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.c
Roger Biduk; Stockhouse Stock movers for the week of February 9, 2009
On Monday, Frontera Copper (T.FCC) shares climbed 15% to 78 cents after Invecture Group, S.A. de C.V. said it is raising its formal take-over bid for the common shares of Frontera to 75 cents a share from 59 cents.
As well, shares of Northstar Healthcare (T.NHC) soared 52% to $1 as the owner and/or manager of ambulatory surgery centers in the United States reported that its Board of Directors has initiated a process to identify and evaluate strategic alternatives available to maximize shareholder value. Donald Kramer, M.D., founder and director of Northstar, has indicated that he is considering making an offer to purchase all of the outstanding common shares of the company.
In Tuesday trading, Indicator Minerals (V.IME) shares jumped 29% to nine cents after the micro cap explorer reported diamond results from a sample of the first kimberlite discovered on the Nanuq North Project in Nunavut. A total of 206 diamonds were recovered from a 152.75kg sample of the NQN-001 kimberlite. The largest stone measured 0.98mm x 0.72mm x 0.70mm. The majority of the diamonds described are characterized as white/colorless with no inclusions.
Also, shares of TUSK Energy (T.TSK) skyrocketed 142% to $2.08 as the oil and gas producer/explorer announced that Polar Star Canadian Oil and Gas, a venture indirectly owned by the Teachers Insurance and Annuity Association of America, will acquire all of the issued and outstanding common shares of TUSK for cash consideration of $2.15 per TUSK share. The aggregate value of the transaction is about $257 million.
Wednesday’s market action saw shares of Colossus Minerals (T.CSI) power 49% higher to $2.38 after the miner reported results for the first systematic assaying of drill core for the complete platinum group element suite from the Serra Pelada Project in Brazil, which included 7.88 metres of 406.4 grams per tonne (g/t) gold, 98.4 g/t platinum, 115.7 g/t palladium, 2.74 g/t rhodium, 1.52 g/t iridium, 0.19 g/t ruthenium, and 0.03 g/t osmium.
In addition, shares of Rubicon Minerals (T.RMX) shot up 13% to $1.73 as the gold miner announced new results from ongoing drilling at its 100%-controlled Phoenix Gold Project in the Red Lake gold district of Ontario, which included 173.7 g/t gold over 2.5 metres.
Roger Biduk;
On Thursday, SLAM Exploration (V.SXL) shares surged 25% to 2.5 cents after the micro cap miner said it has received a draft 43-101 Technical Report and resource estimate for its wholly-owned Nash Creek Project in New Brunswick. Using a 2% Zinc Equivalent cut-off and after mill recoveries are factored in, it is estimated that the Nash Creek deposit contains an indicated resource of 7,807,900 tonnes grading 2.72% zinc, 0.55% lead, and 18.26 grams per tonne (g/t) silver, plus an inferred resource of 1,211,700 tonnes grading 2.66% zinc, 0.52% lead, and 18.00 g/t silver.
As well, shares of PharmaGap (V.GAP) added 57% at 22 cents as the biotech firm reported that its lead drug compound PhG-alpha-1 has been accepted for testing at the National Cancer Institute, an institute of the National Institutes of Health. The National Cancer Institute's mandate is to conduct and foster cancer research in the United States.
And, in Friday trading,Canadian Gold Hunter (T.CGH) shares climbed 20% to 30 cents after the micro cap explorer reported that it will acquire all of the issued and outstanding shares of Suramina Resources (T.SAX) on the basis of 0.7541 shares of Canadian Gold Hunter for each one Suramina share. Canadian Gold Hunter claims Suramina brings to the transaction a large, diversified copper/gold exploration portfolio in South America, including the Josemaria copper/gold porphyry project with a 43-101 inferred resource of 460 million tonnes grading 0.39% copper and 0.30 grams per tonne (g/t) gold at a 0.3% TCu cut-off, containing 3.9 billion pounds of copper and 4.4 million ounces of gold.
Finally, shares of EnerGulf Resources (V.ENG) jumped 13% to 43 cents as the oil and gas explorer said it has signed a joint operating agreement with COHYDRO, the Democratic Republic of Congo’s national oil and gas company, setting out the terms of which EnerGulf, as operator, is to manage the exploration activities on its Lotshi Block.
www.rogerbiduk.ca
www.rogerbiduk.wordpress.com
www.rogerbiduk.blogspot.com
http://bestcatanddognutrition.wordpress.c
Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, February 11, 2009
TORONTO (SHfn) - Precious and rare earth metals assays generated some investor interest Wednesday, while Red Lake results shone.
Colossus Minerals (T.CSI) shares powered 49% higher to $2.38 on Wednesday after the miner reported results for the first systematic assaying of drill core for the complete platinum group element suite from the Serra Pelada Project in Brazil, which included 7.88 metres of 406.4 grams per tonne (g/t) gold, 98.4 g/t platinum, 115.7 g/t palladium, 2.74 g/t rhodium, 1.52 g/t iridium, 0.19 g/t ruthenium, and 0.03 g/t osmium.
As well, shares of Rubicon Minerals (T.RMX) shot up 13% to $1.73 as the gold miner announced new results from ongoing drilling at its 100%-controlled Phoenix Gold Project in the Red Lake gold district of Ontario, which included 173.7 g/t gold over 2.5 metres.
Mart Resources (V.MMT), meanwhile, said it has received an unsolicited expression of interest from a third party with respect to a proposal for a corporate purchase transaction. Mart stock popped 50% to nine cents.
Shares of StrataGold (TSX: T.SGV, Stock Forum) climbed 25% to five cents after the micro cap explorer announced that Victoria Gold (TSX: V.VIT, Stock Forum) has agreed to offer StrataGold shareholders 0.1249 of a Victoria common share for each StrataGold common share held, as part of a friendly takeover agreement.
Roger Biduk;
And, Pacific Rubiales Energy (TSX: T.PRE, Stock Forum) Wednesday reported that it has received a Statement of Reserve Data for the Rubiales-Piriri and Quifa Blocks in Columbia. In the Rubiales-Piriri Blocks, the company's gross total proved reserve is 114.3 million barrels (MMbbl) of heavy oil for December 2008. This represents an increase of 82.3% of the proved reserve of 62.7 MMbbl of heavy oil for December 2007. Its shares surged 12% to $3.11.
| Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern) | |
| Cadan Resources (TSX: V.CNF, Stock Forum) | + 125% |
| Sprylogics International (TSX: V.SPY, Stock Forum) | + 100% |
| Calibre Mining (TSX: V.CXB, Stock Forum) | + 86% |
| CMQ Resources (TSX: V.NV, Stock Forum) | + 77% |
| Australian Solomons Gold (TSX: T.SGA, Stock Forum) | + 70% |
| Top Canadian Small/Micro-cap Decliners | |
| Mount Dakota Energy (TSX: V.MMO, Stock Forum) | - 56% |
| Golden Arch Resources (TSX: V.GAI, Stock Forum) | - 50% |
| Geologix Explorations (TSX: V.GIX, Stock Forum) | - 38% |
| SLAM Exploration (TSX: V.SXL, Stock Forum) | - 33% |
| Royal Roads (TSX: V.RRO, Stock Forum) | - 33% |
http://www.rogerbiduk.ca/
http://rogerbiduk.wordpress.com/
http://rogerbiduk.blogspot.com/
http://www.xanga.com/rogerbiduk
Roger Biduk writes:
First, a definition for those who aren’t familiar with ETFs.
Simply put, Exchange Traded Funds (ETFs) allow an investor to buy an entire portfolio of stocks through a single security that tracks and matches the returns of a stock market index.
They’re like mutual funds but better. You can buy ETFs that mirror any stock market index in the world or any industry sector. You can buy them to mirror the upside (going long) or downside (going short).
Unlike mutual funds, they trade like stocks on the major North American Markets and are very liquid.
The two I looked at are leveraged and positioned to profit from the decline in the financial sector:
· The Financial Bear 3X (FAZ) seeks to replicate, net of expenses, 300% of the inverse daily performance of the Russell 1000 Financial Services Index .
This ETF is +145% since Jan. 5.
· UltraShort Financials ProShares (SKF) seeks daily investment results, before fees and expenses, which correspond to twice the inverse of the daily performance of the Dow Jones U.S. Financials index.
This ETF is +88% since Jan. 5.
Roger Biduk writes:
Investors can take advantage of an upswing in the financials by buying ETFs that do the opposite of the ones mentioned above. These would be (FAS) and (UYG).
Many that thought oil was terribly overpriced last summer and was a bubble waiting to burst. They could have bought a Canadian ETF (HOD) that would profit as the price of oil declines.
The Horizons BetaPro NYMEX® Crude Oil Bear+ ETF (HOD) seeks daily investment results equal to 200% of the inverse daily performance, of the NYMEX® light sweet crude oil futures contract for the next delivery month. For example, if the price of oil drops 10%, the ETF will rise 20%.
Well, on July 3/08 the price of oil peaked ~US$147 and HOD closed at $6.77. On Dec. 24/08 the price of oil bottomed and HOD hit $62.72, an incredible gain of 826% in less than five months...!!!
As you may know, Nortel filed yesterday for bankrupcy protection. The shares should be worthless but at one point today on the TSX they traded up 43% on huge volume of over 82 million shares.
But I think much of the volume is from short sellers buying the stock and closing their position. They profited from selling Nortel at a higher price and buying it when it declined.
At one point it was trading around $125CDN. A short-seller could have sold the stock at $125 and bought it today for $.12 to close out the position. That means the profit on one share would be over $124. There's lots of money to be made in a down market or when there's an opportunity to capitalize on a stock that's on its way down.
Stocks on Bay Street traded deep in the red Wednesday afternoon in a broad-based selloff as a surprisingly weak US retail sales report and news that Nortel Networks filed for bankruptcy protection weighed on sentiment.
The S&P/TSX composite index was down 258.91 points to 8,702.64. Meanwhile, the TSX Venture Exchange was 18.07 points lower at 850.83 and the NASDAQ Canada was off 10.45 points at 463.50.
The CDN$ was trading down 0.98 cent to 80.64 cents US.
Corus Entertainment Inc. (CJR.B) said Wednesday it was reducing its 2009 earnings guidance despite recording profits in its first fiscal quarter. The Toronto-based media company reported earnings of $40.6 million, or 50 cents a share, up slightly from year-earlier earnings of $39.4 million or 46 cents a share.
Cogeco Inc. (CGO) reported a profit of $11.1 million or 66 cents a share, reversing year-earlier losses of $10 million or 60 cents a share. The company says revenue rose 18.5 percent to $308.4 million from $260.3 million.
On the corporate front, Nortel Networks Corp. (NT) filed for bankruptcy protection. Toronto-based Nortel said today that the company and its various subsidiaries would seek protection from creditors with filings in Canada, the United States and Europe. The move comes in advance of an interest payment Nortel was scheduled to make this week of about US$107 million.
In economic news, the Census Bureau said Wednesday that retail sales for December declined 2.7 percent, vs. an expected decline of 1.2 percent. Factoring out autos, retail sales declined 3.1 percent, vs. a 2.5 percent decline in the prior month and the expectation for a 1.4 percent decline.
The Mortgage Bankers Association said early Wednesday that the market composite index, a measure of mortgage loan application volume increased 15.8 percent on a seasonally adjusted basis to 1324.8 for the week ended Jan. 9. On an unadjusted basis, the index increased 95.7 percent compared with the previous week and 52.4 percent from a month prior.
All of the TSX sub-groups traded lower this afternoon -- mining stocks were off 8.31 percent, industrial issues were down 3.77 percent and energy stocks shed 3.54 percent.
Gold was rising $1.10 to $821.80 US an ounce.
The Toronto stock market tumbled almost 300 points as worries about the economy sent commodity stocks tumbling.
But weak jobs data at the end of last week helped further depress bank stocks.
Toronto's S&P/TSX composite index tumbled 291.85 points or 3.2 per cent to 8,793.33, leaving the key index down 2.1 per cent for the trading year so far.
The TSX Venture Exchange was 30.55 points lower to 878.35 while a stronger American currency and sharply lower oil prices helped send the CDN$ down 1.7 cents to 82.28 cents US.
The market also lost ground as the Bank of Canada's quarterly survey of companies found that business leaders expect sales growth to slow and job cuts this year. As well, the firms reported tightening credit conditions over the past three months.
The TSX energy sector lost four per cent as the February crude contract in New York fell US$3.24 to $37.59 on the New York Mercantile Exchange. EnCana Corp. (TSX: ECA.TO) declined $1.61 to $54.86 and Suncor Inc (TSX: SU.TO) gave back $1.33 to $26.56.
Gainers were few in the sector with Horizons BetaPro Nymex Crude Oil Bear Plus ETF (HOD) gaining 15.83% to $25.32. This EFT is leveraged twice to the daily percentage decline in the price of oil and is the opposite of (HOU).
Losers in the sector include Horizons BetaPro Nymex Crude Oil Bull Plus ETF (HOU) tanking 15.49% to $9.00. This EFT is leveraged twice to the daily percentage gain in the price of oil and is the opposite of (HOD). Highpine Oil & Gas (HPX) dropping 9.90% to $4.73. Petrobank Energy & Res. (PBG) down 8.86% to $21.60. Tristar Oil & Gas (TOG) lost 8.00% to $11.15. Fairborne Energy Trust (FEL) dropped 7.50% to $5.80. Pacific Rubialis Energy (PRE) down 7.02% to $2.78. Paladin Energy (PDN) slumped 6.50% to $2.30. Crescent Point Energy Trust (CPG.UN) declined 5.93% to $22.21. Birchcliff Energy (BIR) down 5.58% to $5.25. Canadian natural resources (CNQ) fell 5.26% to $48.07. Ensign Energy (ESI) lost 5.14% to $12.00.
The base metals sector fell eight per cent while copper dropped 4.6 per cent to $1.4885 a pound after posting double digit increases last week. Teck Cominco Ltd. (TSX: TCK-B.TO) dropped 45 cents to $6.60 and HudBay Minerals (TSX: HBM.TO) retreated 11.14% to $3.43.
Decliners include Timminco (TIM) tanking 14.65% to $4.31. Quadra Mining (QUA) dropping 12.79% to $3.07. First Majestic Silver (FR) losing 12.02% to $2.05. FNX Mining (FNX) down 10.45% to $3.60. Silver Wheaton (SLW) declining $8.89% to $6.76. Sherritt Intl. (S) slumping 8.74% to $3.55. Inmet Mining (IMN) down 8.61% to $23.26. Red Back Mining losing 8.16% to $6.87. First Quantum Minerals (FM) sank 6.78% to $22.00. Teck Cominco (TCK.B) dropped 6.38% to $6.60. Thomas Creek Metals (TCM) slumped 5.79% to $5.70. Ivanhoe Mines fell 5.21% to $3.64.
Roger Biduk writes:
The gold sector gave back 4.35 per cent as the February bullion contract moved down $34 to US$821 an ounce in New York. Goldcorp Inc. (TSX: G.TO) faded $1.98 to $30.40 and Barrick Gold Corp. (TSX: ABX.TO) surrendered $1.21 to $37.99.
Gainers were few in the sector with Horizons BetaPro S&P TSX Global Gold Bear Plus ETF (HGD) soared 7.57% to $13.93. This EFT is leveraged twice to the daily percentage decline of the price of gold and is the opposite of (HGU). Alamos Gold (AGI) rose 2.79% to $7.73.
Decliners include European Goldfields (EGU) tanking 10.65% to $2.60. Horizons BetaPro S&P TSX Global Gold Bull Plus ETF (HGU) dropped 8.06% to $9.47. This EFT is leveraged twice to the daily percentage gain of the price of gold and is the opposite of (HGD). Eldorado Gold (ELD) lost 7.14% to $8.59. Yamana Gold (YRI) losing 6.84% to $7.76. Iamgold (IMG) fell 5.47% to $6.57.
The financials sector was down three per cent as Royal Bank (TSX: RY.TO) fell $1.07 to $35.74 and CIBC (TSX: CM.TO) dropped $1.95 to $50.71. Bank of Nova Scotia (BNS) slumped 5.24% to $31.27.
All sectors were weak except for slight rises in the tech sector, thanks to Nortel Networks (TSX: NT.TO) rising 4.5 cents or 9.7 per cent to 51 cents on top of a 39 per cent surge on Friday.
Units in Bell Aliant (TSX: BA-UN.TO) rose 17 cents to $24 after it said it is cutting 500 management jobs in a move to streamline operations and improve its bottom line. Enghouse Systems (ESL) up 2.67% to $5.00.
Magna International (TSX: MG-A.TO) shares were 44 cents lower to $38.70 after the auto parts maker said it is teaming up with Ford Motor Co. to produce a fully electric car that will get up to 160 kilometres on a single charge. Magna said the car, based on the Ford Focus platform, will be on the market in 2011.
Other industrials like CAE (CAE) dropped 5.81% to $7.62. Bombardier (BBD.B) fell 5.51% to $4.46.
Other movers include Horizons Betapro S&P TSX 60 Bear Plus ETF (HXD) up 6.46% to $28.33. This ETF is leveraged twice the daily percentage downside of the index and is the opposite of (HXU). Brookfield Properties (BPO) lost 7.83% to $8.47. Finning Intl. down 6.69% to $13.94. Horizons Betapro S&P TSX 60 Bull Plus ETF (HXU) losing 6.52% to $10.75. This ETF is leveraged twice the daily percentage gain of the index and is the opposite of (HXD). Thompson Reuters (TRI) fell 5.04% to $29.20.
Fertilizer stocks tanked with the rest of the commodity market. Potash Corp., (TSX: POT.TO) tanked $11.20 or 11.1 per cent to $89.50. Agrium (AGU) slumped 8.07% to $38.84.
Starbucks,the company that brews lattes and cappuccinos for the masses reportedly shelled out $45 million for a new Gulfstream 550 jet, and now owns 3 jets.
This atrocity happened “at about the same time it told employees that it was reconsidering how much it will match in their 401(k) plans this year,” the Seattle Times reported. You can almost hear the reporter hyperventilating.
But owning private planes probably makes sense for a company that operates in 43 countries outside the United States. Top executives are the key to any successful operation and their time is valuable - too valuable to be hung up in airport terminals after missing a connecting flight, even with a laptop.
Starbucks ordered the plane 3 years ago and almost certainly would be hit with a stiff cancellation fee for backing out of the deal now.
Starbucks’ decision to buy a new plane is nothing like the Big 3 CEOs flying to Washington to beg Congress for a handout. Starbucks has closed selected stores, but remains profitable despite taking a big hit in the fourth quarter. Starbucks expects to make money in 2009, while the automakers face continued losses.
Roger Biduk writes:
The Seattle newspaper reports that Starbucks’ Chairman Howard Schultz reimbursed the company $400,919 for personal use of company aircraft - and even quotes an expert:
“That’s not an acceptable answer in 2009,” said Nell Minow, editor of the Corporate Library, a watchdog-research firm. “It’s not acceptable to use it for anything but the most efficient possible business use.”
Golly, what would we do without experts? The chairman reimbursed the company, so what’s the harm (except, of course, for all those gallons of oil)? In any case, it’s not likely that the CEO will be forced to take a bus to a key meeting.
If a stockholder is enraged by the new jet, it’s time to sell and look for another investment. Luckily, all material facts are disclosed in filings with the Securities and Exchange Commission for anyone to read.
Roger Biduk writes:
With the "Big 3" needing a bailout or face possible bankruptcy, being a manufacturer supplying parts to them is no joy right now.
Shares of Canadian autoparts makers have taken a beating due to the decline in the U.S. auto sector, but the companies will face a much harsher reality if one or more of the Detroit Three is allowed to fail.
Parts companies already run on razor-thin margins, and a bankruptcy of one of the big automakers would mean suppliers would not be paid. That would lead to a catastrophic chain reaction that would ripple through the industry, said Linda Hasenfratz, president and chief executive of Linamar Corp , in an interview.
"You are looking at shutting down the entire automotive industry in North America," she said.
"Just to be clear on the ramifications, not just Ford , General Motors and Chrysler ... but everybody. Everybody goes down, because really, you are only as strong as the weakest link in the chain, and some of the weakest links in this chain are the suppliers."
More than 65 percent of suppliers to Ford, GM and Chrysler, also supply Toyota Motor Co and Honda Motor Co , so even the offshore-based manufacturers would be hard hit.
Worries of a bankruptcy of one or all of the Detroit Three are reflected in Linamar's share price, which is down 79 percent since the beginning of the year.
At C$4.20, it is now on the verge of being removed from the S&P/TSX composite index due to failure to meet listing requirements, which include maintaining a certain level of market capitalization and volume.
No Canadian autoparts manufacturer has escaped seeing its stock being clobbered this year. Magna International Inc is down 56 percent at C$35.76, and Martinrea International Inc is down 84 percent at C$1.94.
Thirty-five percent of Linamar's sales go to the Detroit Three, according to RBC Capital Markets. For Magna, that number jumps to 52 percent, and it's about 80 percent for Martinrea.
Michael Willemse, an analyst at CIBC World Markets, said sales volumes would likely decline further for U.S. car sales -- they fell 37 percent in November alone -- on a Detroit Three bankruptcy.
"If one or all three of the Big Three go bankrupt, I would expect sales volumes to decline because customers would be nervous about buying a vehicle by a bankrupt OEM (original equipment manufacturer)," he told Reuters.
Willemse wrote in a note, after the U.S. Senate rejected a $14 billion auto bailout bill late Thursday, that the risk of bankruptcy at each of the Detroit Three had become more likely, with Chrysler in danger of folding within the next few weeks.
Many in the industry have also said that GM will not make it into the new year without government support.
Stock markets on Friday reacted negatively to news the U.S. Senate had killed the auto aid bill, but they bounced back strongly within minutes of the U.S. government saying it may use some of the money set aside in the $700 billion earmarked for fiscal relief to help the beleaguered auto sector.
Richard Cooper, vice-president of Canadian operations at industry consultant JD Power and Associates, said he believes some sort of aid will be made available, but that will only be the beginning of a long process to bring the companies back from the brink of liquidation.
A bailout "is really only survival for the next few weeks or so," he said.
The next phase would be restructuring. In Canada, the shares of autoparts makers would likely remain depressed, as U.S. sales aren't expected to pick up any time soon, and there is a lot of uncertainly about what the automakers and the government have been planning.
"That kind of uncertainly is really taking it's toll in the market right now," said Cooper.
www.rogerbiduk.ca
Roger Biduk :
Wal-Mart (WMT) may soon establish itself as the purveyor of fine gizmos to the masses.
The world's largest retailer is about to offer Apple's (AAPL) upscale iPhone in addition to rock-bottom prices on paper towels, socks and laundry detergent. Sales of the smartphone at Wal-Mart could begin this month.
Neither Wal-Mart nor Apple has confirmed the move, brushing aside press inquires with a polite "No comment." The deal wouldn't be without precedent: Wal-Mart already carries Apple's iPod. Clearly, Steve Jobs isn't worried about Sam Walton damaging his image.
Apple, which wants to boost sales, knows Wal-Mart is one of the few bright spots in a dismal retail market. Its November US sales were up 6.5% from a year ago.
Apple may soon sell a 4GB model of the iPhone for just $99 - but Wal-Mart won't be getting any of its patented price-breaks. Apple is one of the few suppliers the big-box monster can't strong-arm into selling its products at its own loss (and Wal-Mart's gain).
There may not be any sticker shock at Wal-Mart, but several additional fees will be unavoidable: Data services for unlimited Internet access is $30 a month, and text messaging will range anywhere from $5 for 200 messages to $20 for unlimited service. AT&T (T) is the iPhone's exclusive US wireless carrier.
The iPhone/Wal-Mart hookup makes good sense overall -- the handheld faces stiff competition from Research in Motion's (RIMM) BlackBerry Storm, among others -- and the device should sell well, even if there are a select few who hate the thing.
Roger Biduk writes:
From Bloomberg: According to TrimTabs Investment Research, investors pulled a record $43 billion from hedge funds last month. It was the most since the firm started tracking the industry in 2000.
Approximately $14.4 billion came from funds focused on troubled securities, while another $8.4 billion came from equity long-short funds.
Hedge fund performance fell 4.7% in September, the woest monthly performance since Long Term Capital Management collapsed in 1998. But TrimTabs CEO Charles Biderman did give offer ray of hope: The forced selling is likely over, as most hedge funds have probably sold enough assets to cover redemptions.
Lots of people think that the new rules on Wall Street will actually cause more problems down the road with the number of hedge funds decreasing.
Because of the new short-selling rules, some investors say there may be more downside risk over time. By getting rid of the shorts, it may remove a big layer of demand in the marketplace.
Looks like the Fed in the U.S. thinks that these changed will give the system time to fix itself, while John Bogle of Vanguard Funds said that it will take many years to work itself out...
www.rogerbiduk.ca
Roger Biduk's Investment Blog on the U.S. Markets
Roger Biduk's Investment Blog on the Canadian Markets
Roger services clients in Montreal, West Island, Hudson and the province of Ontario.
Roger Biduk writes:
ABSOLUTELY NOTHING.....NOTHING, NOTHING IS MORE IMPORTANT TO YOUR CAT OR DOGTHAN WHAT YOU FEED HER/HIM...!
Scientific fact: Recent Veterinary science has determined by the cellular make-up of dogs and cats:
The average size dog should have a life span of 25 years...*
Cats should have a life span of 30 years.* http://www.truthaboutpetfood.com/
*Research by Drs. Diane Hericowa, Michael Hand, and Ted Mosier
Remember, your children aren't dependent on you for their whole lives but your animal companions are (you wouldn't lower the life expectancy of your kids or poison them, would you...?).
Processed Pet Food - Why you should avoid it. “Let medicine be your food and food your medicine has been the catch cry of dedicated healers down the ages". http://www.barfworld.com/html/learn_more/p
"On that basis it is hard to believe that dedicated animal healers – veterinary surgeons - will recommend commercial pet food. I find this hard to believe because as a practicing veterinary surgeon, I constantly see the enormous difference in health between pets raised on commercial pet food compared to those raised on a biologically appropriate raw food diet. I see the enormous change for good in the health of pets switched from cooked to a raw whole food diet. Despite that very obvious connection between commercial pet food and the poor health of the animals consuming it, commercial pet food has become the accepted way to feed pets throughout the civilized world! There are of course reasons. Much of it has to do with the way vets are trained in small animal nutrition." http://www.barfworld.com/html/learn_more/p
"An alarming fact of life is that vets receive very little worthwhile training in nutrition. No training in the use of raw whole foods and a biased approach to our understanding of commercially produced pet foods. It is relevant to ask what do many veterinarians really know about pet foods? Unfortunately the answer translates as - not very much. Regrettably, a lack of knowledge concerning nutrition has become the basis for recommending processed pet food!" http://www.barfworld.com/html/learn_more/p
"Most people and that includes vets who are interested in their own health, will acknowledge raw whole foods as basic in the formulation of their own healthy diet. Why then do we insist on feeding our pets processed pet foods? Sadly we have been hoodwinked into accepting the hype regarding commercial processed food. We are prepared to believe the highly improbable theory that two species of animal, the dog and the cat, will do better on a diet for which their bodies are totally unsuited rather than their evolutionary diet!" http://www.barfworld.com/html/learn_more/p
"Unfortunately, many of the people who realize that commercially produced dog food does not produce worthwhile results, devise and cook up something which is in essence not very different from the processed food they were worried about. As a consequence, the results in terms of the health of their dog is not a whole lot better." http://www.barfworld.com/html/learn_more/p
....ARTICLES HAVE BEEN WRITTEN SAYING UP TO 80% OF ILLNESSES & VISITS TO THE VET COULD BE AVOIDED WITH PROPER NUTRITION...!
Never rely on your vet to supply you with nutritional advice (articles I've read saying vet schools give less than 10 hours of schooling on nutrition and is often provided by the pet food companies themselves...you have to get it on your own.
I would never feed my animal companions the food I've seen in vet clinics, grocery or chain stores...and neither will you after you know what the ingredients are after you are informed.
Only over the last 30 years has cancer & kidney disease evolved to be the main killers of our animal companions, because they are being fed food sold in vet clinics, grocery and chain stores.
AVOID AT ALL COSTS PET FOOD CONTAINING THE FOLLOWING: Chicken by-Products, Meat By-Products, Meat Meal, Meat By-Product Meal, BHT/BHA, Ethoxiquin, Corn, Corn Meal, Wheat Gluten, Corn Gluten, Rice Gluten, Meat and Bone Meal, Animal Digest, Animal Fat, any Wheat Products and any Soy Products.
Always feed wet food, not dry. For the last 65 million years in the wild, dogs have gotten ~70% & cats 80% of their water needs from the kill, always keeping their kidneys hydrated.
Dry food was invented only for the convenience of humans and for the HUGE profits of the pet food industry, unfortunately to the detriment of the health of our animal companions causing a host of illnesses including chronic kidney failure (CRF).
Over the last 100 million years, canines & felines in the wild had a diet of ONLY raw meat!!!
Read this great article which applies to both cats & dogs and why you should only feed wet food: http://www.blakkatz.com/dryfood.html
Your animal companions will thank you for the rest of their lives by YOU taking the time to inform yourself by reading the following articles (many of them shocking ) written by veterinarians and experts in the field of pet nutrition:
http://iml.jou.ufl.edu/projects/Spring04/P
http://www.shirleys-wellness-cafe.com/je
http://www.flintriverranch.org/uck.html
http://www.nexusmagazine.com/articles/pe
http://www.homevet.com/petcare/foodbook.h
http://www.preciouspets.org/rendering.ht
http://www.miniature-schnauzers.com/Dog-F
http://www.api4animals.org/facts.php?p=3
http://www.barfworld.com/html/learn_more/p
http://www.shirleys-wellness-cafe.com/an
http://realfood4pets.wikidot.com/the-tru
http://www.shirleys-wellness-cafe.com/je
http://www.naturalnews.com/012647.html
http://www.preciouspets.org/truth.htm
http://hubpages.com/hub/TheTruthAboutPet
http://iml.jou.ufl.edu/projects/Spring04/P
http://www.caberfeidh.com/Truth.htm
http://www.sojos.com/truthabout.html
http://www.truthaboutpetfood.com/
http://www.truthaboutpetfood.com/Threegu
http://www.trilogyonline.com/Trilogy/Pet
http://www.preciouspets.org/cancer.htm
http://www.thedogfoodconspiracy.com/dog-f
Good advice:
http://www.healthyvet.com/documents/PDF/E
http://vetmedicine.about.com/od/nutritio
http://www.dogfoodproject.com/index.php?p
http://www.naturalpetoptions.com/pages/a
http://www.tolldenfarms.ca/index.htm
http://cats.about.com/od/catfoodandnutri
http://www.truthaboutpetfood.com/avoidre
http://www.naturalnews.com/Report_pet_fo
http://www.howtoadvice.com/Preview/Lokan
While premium pet foods carry a price tag higher than your average supermarket brand, this is more than offset by the following:
- Cost for food will come down because your pet will now be eating less because of the healthy, wholesome ingredients compared to foods made from nutritionally worthless sources.
- No more visits to the vet because of illnesses or death as a result of feeding your animal companion nutritionally worthless food that is slowly killing them (saving you thousands of dollars) .
- I supplement the premium wet food with pure chicken. When chicken legs & backs (I grind them up, bones and all) go on sale @ for $.59/lb it brings the price down substantially and my animal companions are getting the best raw, human grade food available!
- And most important, the satisfaction and peace of mind (which you cannot measure or put a price tag on) knowing your animal companions will lead a long, energetic & healthy life (20-30 years) because of what you are feeding them.
The good food (and there are others) to keep your vet bills low and your animal companions healthy and happy (and you, too, as a result knowing you're doing the best thing for the animal companions you love) for 20-30 years (yes, that's the life expectancy of healthy dogs & cats):
http://www.naturapet.com/brands/evo.asp
http://www.wellnesspetfood.com/
Raw food is still the best ...it's what nature intended (I use pure chicken), supplemented with premium wet food mentioned above.
When chicken legs & backs go on sale for $.59/lb, I buy 30 lbs. I use a $25 food grinder and grind them up, bones & all. I then freeze them in individual containers bought @ the dollar store to kill any bacteria and keep them frozen till needed. I defrost one every several days.
I've NEVER, EVER seen happier, healthier or more energetic animals in my life and they've NEVER, EVER had to go to the vet because of any illness .....!!!
After our animal companions have left us, we all have a feeling like we've been kicked in the stomach over & over again that can last a very long time.....that's the small price we pay for having the PRIVILEGE of knowing our animal companions.....but fear not, because we will meet them again @:
http://www.indigo.org/rainbowbridge_ver2.h
By the way, that lump you feel in your throat while watching is their way of saying "thanks for the memories".....
INFORMATIVE (AND SHOCKING) VIDEOS ON PET FOOD:
http://www.youtube.com/watch?v=XJSnkICYM
http://www.youtube.com/watch?v=s53H7LB1t
http://www.youtube.com/watch?v=iuv9FBVMp
http://www.youtube.com/watch?v=rKfSsEI9B
http://www.youtube.com/watch?v=NHadGUXCf
http://www.youtube.com/watch?v=dLaxXD8vP
http://www.youtube.com/watch?v=xl1bt4kx1
http://www.youtube.com/watch?v=dkyBv2wA8
http://www.youtube.com/watch?v=n4nZKP-h-B
http://www.youtube.com/watch?v=JHwRMFf8K
http://www.youtube.com/watch?v=JZWqaFwwR-4&f
http://www.youtube.com/watch?v=YzmhmWEnt
http://www.youtube.com/watch?v=8KRwv8TkR
http://www.youtube.com/watch?v=zZbsFCaRf
GOOD NATURAL, HOLISTIC FOOD VIDEOS:
http://www.youtube.com/watch?v=nxfOwGQRN
http://www.youtube.com/watch?v=LeoUPizYg
RAW FOOD, OR WET FOOD SUPPLEMENTED WITH RAW FOOD (CHICKEN) IS BEST.
An amazing study by Dr. Pottenger:
http://www.therawfoodsite.com/cats.htm
Optimum Pet Nutrition to Prevent Obesity
What is the best diet for our carnivore pets?
http://www.shirleys-wellness-cafe.com/fa
WET VS. DRY CAT FOOD...WET MIMICS WHAT THEY WOULD EAT IN THE WILD AND IS BEST BY FAR!:
http://www.celestialpets.com/fus_article.s
http://groups.google.ca/group/rec.pets.c
http://www.zootoo.com/petnews/faceoffwet
http://cats.about.com/cs/catfood/a/canne
It's a start.
They're receiving bids for their asset managemant division and it looks like the division is being valued at $5 billion.
Because it's in effect an auction and it's private, there's not much news available.
But everything should be finalized by tomorrow before the Asian markets open,
Roger Biduk writes:
All the big guys are there including the Treasury Secretary, the president of the New York Fed, and the Chairman of the Securities and Exchange Commission.
Also throwing their two cents in are executives from the other major investment banks including Morgan Stanley, Goldman Sachs, Merrill Lynch, JPMorgan Chase and Citigroup.
It's going to be quite a weekend trying to restore confidence in the banking system and finding a buyer for Lehman.
www.rogerbiduk.ca
rogerbiduk@rogerbiduk.ca
Roger Biduk's Investing Blog on the Canadian Markets: rogerbiduk.blogspot.com/
Roger Biduk's Investing Blog on the U.S. Markets: http://rogerbiduk.wordpress.com/
rogerbiduk@rogerbiduk.ca
Profile
![[info]](http://l-stat.livejournal.com/img/userinfo.gif)
rogerbiduk- rogerbiduk
- Roger Biduk
Syndicate
