DailyMarkets.com - Unemployment Hits Poor Hardest

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• Unemployment Hits Poor Hardest
• Monsanto Reports Weak Numbers
• Penn Va. Downgraded To Underperform
• Forex Trading: EURUSD Has A Reason To Sell?
• Forex Trading: USDJPY Gets A Boost
• TARP: From Maligned To Benign?
• NAAIM Survey Of Manager Sentiment: Follow The Smart Money?
• Whitney Tilson On The Subprime Bubble

Unemployment Hits Poor Hardest Posted: 06 Oct 2010 11:35 AM PDT With the disappointing ADP jobs report this morning, and with the big employment report due out on Friday, employment and unemployment are clearly the things foremost on investors’ minds this week.  Next week the focus will probably shift to third quarter earnings as they start to flood in. I came across this today, which looks at who is getting hurt most in the current slow economy. Surprise, surprise, it is the poor. The graph shows the unemployment rate (blue) and underemployment rate … [visit site to read more]

Monsanto Reports Weak Numbers Posted: 06 Oct 2010 11:05 AM PDT Monsanto Company (NYSE:MON) announced weak results for the fourth quarter and fiscal 2010. Quarter During the quarter, net loss was $143 million from a loss of $233 million in the corresponding quarter of 2009. Loss per share (excluding a restructuring expense) was 9 cents compared with an EPS (Earnings per share) of 2 cents in the year-ago quarter. It reported below the Zacks Consensus Estimate of a loss of 6 cents per share, but was at the lower end of the company's guidance of … [visit site to read more]

Penn Va. Downgraded To Underperform Posted: 06 Oct 2010 11:05 AM PDT We recently moved to an Underperform rating for Penn Virginia Resource Partners L.P. (NYSE:PVR), on expectations of a significant dilution of cash distribution stemming from the partnership's announcement to merge with its general partner, Penn Virginia GP Holdings L.P. (NYSE:PVG). Despite this near-term fear of dilution, we like Penn Virginia Resources for its diverse coal reserves and leases, located in four different producing basins: Central Appalachia (73%), Illinois (20%), Northern … [visit site to read more]

Forex Trading: EURUSD Has A Reason To Sell? Posted: 06 Oct 2010 10:55 AM PDT The EURUSD has moved below the 1.3930 which is the underside of the three parallel trendlines.  Risk is a move above the line (plus 10 pips).   The high reached 1.3947. The low to high trading range is now up to 1303 pips over the last 22 days of trading days. When a month long trading range has move toward 1300 pips, the market has tended to correct.   The exception was in Dec 2008/Jan 2009 when the price move 2200 pips in a month.  If the bias can remain … [visit site to read more]

Forex Trading: USDJPY Gets A Boost Posted: 06 Oct 2010 10:39 AM PDT There is some buying off the low and the USDJPY has moved back above the 82.87 level after selling to 82.76 new low.  I do not think there will be intervention before weekend meeting but there could be verbal intervention/short covering.  The dilemma is both US and JPY are wanting a weak currency. Pair is testing intraday resistance at 200 bar MA and trendline at … [visit site to read more]

TARP: From Maligned To Benign? Posted: 06 Oct 2010 10:35 AM PDT According to a report released by the Treasury on Tuesday, the $700 billion Troubled Asset Relief Program (TARP), which was initiated two years back to rescue the nation's financial industry, will cost much less than anticipated. The Treasury has revised the TARP costs to $50 billion, down from $91 billion projected during its mid-session review in August 2010. This is also a quantum leap from the initial estimate of a loss of $350 billion. As part of its efforts to recoup the TARP loans, … [visit site to read more]

NAAIM Survey Of Manager Sentiment: Follow The Smart Money? Posted: 06 Oct 2010 09:46 AM PDT By seeking delta of http://seekingdelta.wordpress.com As a follow up to last week's look at the AAII Investor Sentiment survey this week we take a look at the NAAIM (National Association of Active Investment Managers) Survey of Manager Sentiment. Last week we confirmed the consensus opinion of the AAII survery as a contrary indicator. On average, when individual investors are most bullish the average 1-year return to the S&P 500 is 1.9% compared to 13.6% when investors are most … [visit site to read more]

Whitney Tilson On The Subprime Bubble Posted: 05 Oct 2010 03:04 PM PDT In the spirit of the upcoming Value Investing Congress which I plan on attending and reporting from, I found some interesting videos from the previous Congress in 2008 which I wanted to share. I discovered a total of 11 videos on the internet. Most of them are quite interesting, and informative. I wrote about a brief summary of each video which I will be posting over the next few days, and embedded the video below. It is important for context to understand that the conference took place in … [visit site to read more]

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