Daily Markets - Financial News And Opinions |
- What Do Broke Baby Boomers Do As Retirement Looms?
- Some Interesting Ways To Trade Natural Gas
- Cartoon: Social Security - How Now?
- BP Awarded Iraq Drilling Contracts
- FDA Accepts Savient Drug BLA
- How To Profit From Europe’s Best-Kept Secret
- Mind-Boggling Budget Deficit
- Moody’s Upgrades Tenneco
- The Great Correction
- Prudential To Incur Extra Charges
- Several Commodities Set To Soar
- Daily ETF Roundup: UNG Slides, GDX Rises
- Charming Shoppes Loss Narrows
- Small Cap Stocks Getting Tired
- China: The Bursting Of A Super-Bubble
- LINN Snaps Up Permian Assets
- BorgWarner Focuses On Asia
- Video: NYSE Closing Bell Market Monitor: BA, RAD, CVX
- Video: American Airlines: More Flights To & From NYC
- Barbarous Relic Vs. Brown Bottoms
- CNOOC’s Profit Slips
- Hasbro Upped To Outperform
- Is The Stock Market Forming A Top?
- Job Cuts At Medivation
- Twelve Months – And Counting – For Japan
- Obama Opens Offshore Drilling; Oil ETFs Soar
- Forex Trading: USDCHF Moves Above The 1.0522 Target.
- Petrobras Downed To Neutral
- Video: 03/31 FX Options Report
- Forex Trading: EURUSD Moves Back Down To 1st Support Level
- A Different Take
- Randy Frederick On “Exploring Vertical FX Spreads”, Part 1
- Randy Frederick On “Exploring Vertical FX Spreads”, Part 2
- Randy Frederick On “Exploring Vertical FX Spreads”, Part 3
- Randy Frederick On “Exploring Vertical FX Spreads”, Part 4
- Randy Frederick On “Exploring Vertical FX Spreads”, Part 5
- Randy Frederick On “Exploring Vertical FX Spreads”, Part 6
- Randy Frederick On “Exploring Vertical FX Spreads”, Part 7
- Randy Frederick On “Exploring Vertical FX Spreads”, Part 8
- Randy Frederick On “Exploring Vertical FX Spreads”, Part 9
- Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 1
- Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 2
- Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 3
- Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 4
- Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 5
- Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 6
- Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 7
- Analyst Interviews: Publishing Industry Stock Review
| What Do Broke Baby Boomers Do As Retirement Looms? Posted: 31 Mar 2010 06:01 PM PDT Tens of millions of baby boomers are all but broke. How are they going to retire? The stock market is not very good at looking around corners. This is why, every so often, you get the chart equivalent of an acapulco cliff dive. (A steady, gradual ascent… perhaps a modest plateau… and then a swift descent straight down.) Efficient stock market theorists have no good explanation for why this happens, let alone why it happens so readily. It would be one thing if the sudden stock … [visit site to read more]
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| Some Interesting Ways To Trade Natural Gas Posted: 31 Mar 2010 05:01 PM PDT Last week, I told you we should get ready to go long natural gas. The oil-to-gas ratio is hitting extreme highs, and natural gas is near “supercheap” territory. For this week’s column, I promised to tell you my favorite way to speculate on cheap natural gas, and I asked for a few of yours. Here’s a short list of your ideas: Company Symbol Peyto Energy Trust TSX: PEY-UN
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| Cartoon: Social Security - How Now? Posted: 31 Mar 2010 04:01 PM PDT |
| BP Awarded Iraq Drilling Contracts Posted: 31 Mar 2010 03:26 PM PDT For the development of Iraq's largest producing oil field, Rumaila, BP plc (NYSE:BP) along with its partners has been awarded approximately $500 million drilling contracts. The drilling contractors are Schlumberger Ltd. (NYSE:SLB) in partnership with the state-run Iraqi Drilling Company, China’s Daqing Oil Field Co. Ltd and Weatherford International Ltd. (NYSE:WFT). Rumaila field is located in Southern Iraq, one of the world's largest oilfields. In the last year, BP and China National Petroleum … [visit site to read more]
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| Posted: 31 Mar 2010 03:06 PM PDT Recently, Savient Pharmaceuticals, Inc. (BLA) announced that the U.S. Food and Drug Administration (FDA) accepted the Biologics License Application (BLA) for its gout candidate, Krystexxa (pegloticase). The BLA was resubmitted by Savient on March 15, 2010. A response from the FDA should be out in the fourth quarter of 2010 (target date: Sept 14, 2010). As a reminder, the FDA issued a complete response letter (CRL) in July 2009 whereby the agency refused to approve the BLA for Krystexxa … [visit site to read more]
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| How To Profit From Europe’s Best-Kept Secret Posted: 31 Mar 2010 03:01 PM PDT Here’s a bit of global-investing trivia that I’ll wager most folks will have a tough time answering: One of the world’s finance ministers has attacked the International Monetary Fund (IMF) for encouraging governments to engage in excessive “stimulus” in 2009, thus giving themselves horrible deficit and debt problems in 2010. Name the country that finance minister hails from. I’ll even give you a hint: He’s not from Germany, which avoided “stimulus” but tends to be polite about the IMF and … [visit site to read more]
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| Posted: 31 Mar 2010 03:00 PM PDT In one of my worse nightmares coming true, my boss "stopped by" my office with some security camera footage of me allegedly coming to work where I am obviously but allegedly drunk as a skunk and allegedly belligerent, although there is no sound track to confirm this, towards the other employees also allegedly coming in to work, where I am allegedly and seemingly yelling at them in a spittle-drenched rage that they are idiots because they are not buying gold, silver and oil in response to … [visit site to read more]
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| Posted: 31 Mar 2010 02:45 PM PDT Moody’s Investors Service, an operating segment of Moody's Corporation (NYSE:MCO), has upgraded the credit outlook of Tenneco Inc. (NYSE:TEN) to "positive” from "stable.” The rating upgrade was backed by Tenneco's capability to display a continuous improvement in its financial health. Under the present global restructuring plan (which includes flex operations at plants, plant closures and the elimination of 1,100 positions — 500 salaried and 600 hourly — worldwide), Tenneco expects to … [visit site to read more]
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| Posted: 31 Mar 2010 02:44 PM PDT - "Wow…it's amazing how many Spanish-speaking people there are in this area…"
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| Prudential To Incur Extra Charges Posted: 31 Mar 2010 02:26 PM PDT Prudential Financial Inc. (NYSE:PRU) is expected to post a charge of $100 million in its first quarter earnings as a result of changes made under health care reform regarding subsidies on retiree health care costs. During 2003, Congress granted the corporations, who were considering dropping coverage to the retirees, a 28% tax-free subsidy for continuing to provide coverage for Medicare cost of retirees. This provided the companies a double benefit as they were able to deduct the cost of … [visit site to read more]
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| Several Commodities Set To Soar Posted: 31 Mar 2010 02:26 PM PDT - Here's one potential China bubble popper: steel prices.
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| Daily ETF Roundup: UNG Slides, GDX Rises Posted: 31 Mar 2010 02:21 PM PDT Equity markets trended lower in mid-week trading as the major indexes lost ground to close out the first quarter. Although energy shares trended higher after news the President Obama had lifted a ban on offshore drilling, other sectors fell after a surprising drop in private-sector employment levels ahead of the government's payrolls data later this week. "It's a short week and being the end of the quarter, people have locked in a lot of their positions," said Cleveland Rueckert, market … [visit site to read more]
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| Posted: 31 Mar 2010 02:10 PM PDT Charming Shoppes Inc. (NASDAQ:CHRS) reported fiscal 2009 fourth-quarter results on Tuesday. The company posted a narrower GAAP net loss of $28.0 million, compared to a loss of $114.0 million in the year-ago quarter. Excluding certain special items, adjusted loss per share came in at 10 cents, ahead of the Zacks Consensus Estimate for a 16-cent loss. Charming Shoppes operates women’s specialty apparel stores under the names Lane Bryant, Cacique, Fashion Bug, Fashion Bug Plus and Catherines Plus … [visit site to read more]
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| Small Cap Stocks Getting Tired Posted: 31 Mar 2010 02:01 PM PDT I posted a short article “Picture du Jour: Keep an eye on small caps” about 10 days ago, arguing that small caps, a leading performer since the lows of March 9 last year, seem to be tiring. This is illustrated by the relative chart of the Russell 2000 Index versus the S&P 500 Index below. (A rising relative-strength trendline indicates small caps outperforming and vice versa.) Source: Stockharts.com I stated that a few days’ underperformance was hardly grounds for drawing … [visit site to read more]
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| China: The Bursting Of A Super-Bubble Posted: 31 Mar 2010 02:00 PM PDT - The world looks at China with envy. China's economy grew 8.7 percent last year, while the world economy contracted by 2.2 percent. It seems that Chinese "Confucian capitalism" – a market economy powered by 1.3 billion people and guided by an authoritarian regime that can pull levers at will – is superior to our touchy-feely, democratic capitalism. But the grass on China's side of the fence is not as green as it appears. In fact, China's defiance of the global recession is not a … [visit site to read more]
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| Posted: 31 Mar 2010 01:53 PM PDT Independent energy company LINN Energy LLC (NASDAQ:LINE) has agreed to pay $305 million to purchase oil and natural gas properties from an unnamed seller. The transaction, which is expected to close by May 27, will be funded by LINN's borrowings under its revolving credit facility. The assets, located in the Permian Basin of West Texas, hold an estimated 18 million barrels of oil equivalent in proved reserves (71% oil) and will add 2,800 barrels of oil equivalent (75% oil) to LINN's daily … [visit site to read more]
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| Posted: 31 Mar 2010 01:37 PM PDT BorgWarner Inc. (NYSE:BWA) has expanded its Asian operations by opening up facilities in China and India. Last week, the manufacturer of powertrain applications unfolded a technical center in the Zizhu Science Park in Shanghai. The Shanghai center will undertake research and development of engines and drivetrains. It is expected to be the largest in the company’s network of global technical centers within 2 years and will employ 400 workers. BorgWarner is optimistic about its operations in … [visit site to read more]
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| Video: NYSE Closing Bell Market Monitor: BA, RAD, CVX Posted: 31 Mar 2010 01:36 PM PDT The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]
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| Video: American Airlines: More Flights To & From NYC Posted: 31 Mar 2010 01:30 PM PDT American Airlines announced plans to add 23 moire flights to and from seven new destinations out of New York’s JFK & LaGuardia airports. … [visit site to read more]
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| Barbarous Relic Vs. Brown Bottoms Posted: 31 Mar 2010 01:22 PM PDT - Markets were a snooze yesterday. On the back of some ambiguous housing data and a much ballyhooed, though ultimately underwhelming, consumer confidence report, major U.S. indexes barely managed to budge a fraction of a percent.
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| Posted: 31 Mar 2010 01:19 PM PDT CNOOC Ltd (NYSE:CEO) has reported full-year 2009 results. Earnings per ADR came in at $9.68 versus the Zacks Consensus Estimate of $10.00. Earnings missed our expectations due to lower oil price realizations and higher operating costs. Total revenue fell more than 16% to $15.4 billion, as its average selling price of crude oil fell 32.2% to $60.61 per barrel. Estimate Revisions Trend With the uptrend in oil prices, we see a mixed bag in estimate revisions. For the last 30 days, 2 of the 5 … [visit site to read more]
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| Posted: 31 Mar 2010 01:03 PM PDT We are upgrading our recommendation on Hasbro Inc. (NYSE:HAS) to Outperform. Hasbro reported fourth quarter earnings of $1.09 per share, well ahead of the Zacks Consensus Estimate of 81 cents. The beat reflected a better-than-expected growth in revenue. Hasbro has experienced a strong demand across most of its product lines, especially for its movie-based toys. It had earned 62 cents per share in the year-ago period. Net revenues for the quarter increased 12% to $1.38 billion from the … [visit site to read more]
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| Is The Stock Market Forming A Top? Posted: 31 Mar 2010 01:01 PM PDT Yes, the market is overbought, overvalued and overbullish. But that in itself does not tell us much about the most likely near-term trend. One way of gauging the outlook is to analyze so-called market breadth. “Where breadth goes, the market usually follows,” goes an old market saw. Analyzing one measure of market internals, the number of S&P 500 stocks trading above their respective 50-day moving averages has increased to 90% from 18% in early February (see chart below). This … [visit site to read more]
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| Posted: 31 Mar 2010 12:47 PM PDT Medivation, Inc. (NASDAQ:MDVN) recently announced that it intends to reduce its workforce by 20% or 23 people to save costs and focus its resources towards research and development activities related to dimebon and MDV3100. Medivation also announced the departure of its senior vice president of clinical development and the vice president of commercial development. The company said that it is no longer looking for a new Chief Financial Officer (CFO) as this post will be filled by the current Chief … [visit site to read more]
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| Twelve Months – And Counting – For Japan Posted: 31 Mar 2010 12:39 PM PDT by Martin Denholm, Senior Editor, Investment U
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| Obama Opens Offshore Drilling; Oil ETFs Soar Posted: 31 Mar 2010 12:38 PM PDT Earlier today, President Obama announced that he is lifting bans on offshore drilling and oil and gas exploration off the Virginia coast, move likely to renew a heated debate between environmental groups and Big Oil. Obama also announced that he will be expanding lease sales for oil and gas exploration on the Atlantic seaboard. The plan, which will impact offshore exploration through 2017, includes the lease sale of a tract of Atlantic waters 50 miles off the Virginia coast and plans for new … [visit site to read more]
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| Forex Trading: USDCHF Moves Above The 1.0522 Target. Posted: 31 Mar 2010 12:36 PM PDT The USDCHF has moved above the 1.0522 level as per the prior post, and is approaching resistance at the 100 bar MA on the 5 minute chart. The level comes in now at the 1.0545 level. A move above would target the 1.0557/62 area. Support now at 1.0522. A break may look back toward the low/toward the 200 day MA … [visit site to read more]
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| Posted: 31 Mar 2010 12:27 PM PDT We are downgrading Petroleo Brasileiro S.A. or Petrobras (NYSE:PBR) ADRs to Neutral from Outperform, as we are concerned by the significant increase in its downstream investment level in the face of a bearish refining margin outlook. Petrobras has pegged its 2010 capital budget at R$88.6 billion. Of this, R$34 billion will go towards the downstream segment, which is considerably higher than the earlier guidance. Considering the bearish refining margin environment that is likely to prevail over … [visit site to read more]
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| Video: 03/31 FX Options Report Posted: 31 Mar 2010 12:25 PM PDT The USD traded lower vs. the high-yielding currencies, but posted an advance against the JPY. The ADP reported that the U.S. private sector shed 23,000 jobs in March. … [visit site to read more]
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| Forex Trading: EURUSD Moves Back Down To 1st Support Level Posted: 31 Mar 2010 12:20 PM PDT As per the prior post (Click here), the downside route had as a target the 100 bar MA on the 5 minute chart and the 1.3505 low from earlier in the day. The price action did choose the downside and the road has led to the 1.3505 level (low 1.3506). Intraday profit takers are in - taking profit at the support level.
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| Posted: 31 Mar 2010 11:40 AM PDT Over at the ZeroHedge website, they have a post attributed to Michael Panzer of the Financial Armageddon website entitled: “The Latest Red Flag - The Market’s Rate of Melting Up”. Here is a different take. From the Panzer article, I quote: “Based on data going back 90 years, whenever the 12-month rate of change (ROC) in the Dow Jones Industrials Average has exceeded 40 percent, it has generally signaled trouble ahead.” I would disagree with that statement, and to understand why, let’s put … [visit site to read more]
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| Randy Frederick On “Exploring Vertical FX Spreads”, Part 1 Posted: 31 Mar 2010 09:16 AM PDT Join Randy Frederick, Director of Trading and Derivatives at the Schwab Center for Financial Research, as he explores vertical spread trading for FX Options. … [visit site to read more]
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| Randy Frederick On “Exploring Vertical FX Spreads”, Part 2 Posted: 31 Mar 2010 09:15 AM PDT Join Randy Frederick, Director of Trading and Derivatives at the Schwab Center for Financial Research, as he explores vertical spread trading for FX Options. … [visit site to read more]
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| Randy Frederick On “Exploring Vertical FX Spreads”, Part 3 Posted: 31 Mar 2010 09:14 AM PDT Join Randy Frederick, Director of Trading and Derivatives at the Schwab Center for Financial Research, as he explores vertical spread trading for FX Options. … [visit site to read more]
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| Randy Frederick On “Exploring Vertical FX Spreads”, Part 4 Posted: 31 Mar 2010 09:13 AM PDT Join Randy Frederick, Director of Trading and Derivatives at the Schwab Center for Financial Research, as he explores vertical spread trading for FX Options. … [visit site to read more]
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| Randy Frederick On “Exploring Vertical FX Spreads”, Part 5 Posted: 31 Mar 2010 09:12 AM PDT Join Randy Frederick, Director of Trading and Derivatives at the Schwab Center for Financial Research, as he explores vertical spread trading for FX Options. … [visit site to read more]
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| Randy Frederick On “Exploring Vertical FX Spreads”, Part 6 Posted: 31 Mar 2010 09:11 AM PDT Join Randy Frederick, Director of Trading and Derivatives at the Schwab Center for Financial Research, as he explores vertical spread trading for FX Options. … [visit site to read more]
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| Randy Frederick On “Exploring Vertical FX Spreads”, Part 7 Posted: 31 Mar 2010 09:10 AM PDT Join Randy Frederick, Director of Trading and Derivatives at the Schwab Center for Financial Research, as he explores vertical spread trading for FX Options. … [visit site to read more]
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| Randy Frederick On “Exploring Vertical FX Spreads”, Part 8 Posted: 31 Mar 2010 09:09 AM PDT Join Randy Frederick, Director of Trading and Derivatives at the Schwab Center for Financial Research, as he explores vertical spread trading for FX Options. … [visit site to read more]
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| Randy Frederick On “Exploring Vertical FX Spreads”, Part 9 Posted: 31 Mar 2010 09:08 AM PDT Join Randy Frederick, Director of Trading and Derivatives at the Schwab Center for Financial Research, as he explores vertical spread trading for FX Options. … [visit site to read more]
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| Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 1 Posted: 31 Mar 2010 09:07 AM PDT Join veteran options trader Dan Passarelli as he explains his methodology for options trading and valuation based on the “greeks”. … [visit site to read more]
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| Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 2 Posted: 31 Mar 2010 09:06 AM PDT Join veteran options trader Dan Passarelli as he explains his methodology for options trading and valuation based on the “greeks”. … [visit site to read more]
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| Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 3 Posted: 31 Mar 2010 09:05 AM PDT Join veteran options trader Dan Passarelli as he explains his methodology for options trading and valuation based on the “greeks”. … [visit site to read more]
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| Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 4 Posted: 31 Mar 2010 09:04 AM PDT Join veteran options trader Dan Passarelli as he explains his methodology for options trading and valuation based on the “greeks”. … [visit site to read more]
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| Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 5 Posted: 31 Mar 2010 09:03 AM PDT Join veteran options trader Dan Passarelli as he explains his methodology for options trading and valuation based on the “greeks”. … [visit site to read more]
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| Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 6 Posted: 31 Mar 2010 09:02 AM PDT Join veteran options trader Dan Passarelli as he explains his methodology for options trading and valuation based on the “greeks”. … [visit site to read more]
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| Dan Passarelli On “Trading FX Options Greeks Understanding The Factors That Drive Profit”, Part 7 Posted: 31 Mar 2010 09:01 AM PDT Join veteran options trader Dan Passarelli as he explains his methodology for options trading and valuation based on the “greeks”. … [visit site to read more]
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| Analyst Interviews: Publishing Industry Stock Review Posted: 30 Mar 2010 10:00 PM PDT The publishing industry has long been grappling with sinking advertising revenue, and the recent global economic meltdown has worsened the situation. This comes in the wake of a longer-term secular decline as more readers choose to get news free online, thereby making the print-advertising model increasingly irrelevant. Circulation Falling Prey to Internet Newspapers have fared far worse than magazines, as web-based news options have proliferated in recent years. The two-decade long erosion … [visit site to read more]
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