Thursday, May 10, 2012

DailyMarkets.com - Racketeering Charge Against BofA And MERS

DailyMarkets.com - Racketeering Charge Against BofA And MERS


Racketeering Charge Against BofA And MERS

Posted: 10 May 2012 03:32 AM PDT

A little over a year ago I became aware of robo-signing within the mortgage servicing industry and broached the topic that the activity likely rose to a level of racketeering. I aggressively questioned, Did Wall Street Violate the Racketeering Act?
Believing that the activity did likely rise to a level of racketeering, I recommended that attorneys general should pursue institutions involved in these fraudulent and abusive practices with a RICO action.
Well, it appears that somebody is now … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: Canadian National Railway Company

Posted: 10 May 2012 03:25 AM PDT

Canadian National Railway Company (NYSE:CNI) delivered better-than-expected first quarter results on strong freight volumes, driven by an improving North American economy. And management revised their earnings guidance higher for the remainder of 2012.
This prompted analysts to raise their estimates for both 2012 and 2013, sending the stock to a Zacks #2 Rank (Buy).
The company also continues to steadily raise its dividend. It currently yields a solid 1.8%.
Company Description
Canadian National … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bear Of The Day: Sinopec

Posted: 10 May 2012 03:25 AM PDT

We are maintaining our Underperform recommendation on Sinopec – ADS, aka China Petroleum & Chemical (NYSE:SNP) following its first quarter 2012 results. The company’s quarterly profit registered a 35.2% decline, owing to slower domestic economic growth.
Moreover, increases in the price of international crude oil amidst government caps on fuel prices, prevented the company from fully passing on spiraling costs to consumers, thereby hurting refining margins.
The company’s weak guidance for this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bull Of The Day: Manulife Financial (MFC)

Posted: 10 May 2012 03:25 AM PDT

We are upgrading our recommendation on the shares of Manulife Financial Corp. (NYSE:MFC) following strong first-quarter results. The company reported operating earnings of $1.13 billion, higher than $871 million in the prior-year quarter. Manulife has achieved a great deal in reducing potential equity markets and interest rates risk exposures, along with minimizing existing risks.
We also remain impressed with the company’s significant progress made in diversifying its businesses, achieving growth … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: Radware

Posted: 10 May 2012 03:25 AM PDT

Radware (RDWR) has seen a dramatic rise in earnings estimates making it a Zacks #1 Rank (Strong Buy).
Company Description
Radware Ltd. makes integrated networking solutions worldwide. Its solutions include application delivery and network security solutions. The company offers the Alteon Application Switch application delivery controller that supports local and global load-balance, application acceleration, multi-homing network load-balance, and bandwidth management capabilities. Its … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Momentum Stock: CBS Corporation

Posted: 10 May 2012 03:25 AM PDT

CBS Corporation (CBS)
Many wondered what fate would become of traditional media companies like CBS given the explosion of internet based content, news and social media over the past decade.  I think it's safe to say that the masses did not expect these companies to thrive,  let alone report record earnings, but on May 1st, CBS proved that it can do both.
“As great as these last few years have been, this quarter tops it all,”- “What’s most exciting is that we are poised to benefit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bear Of The Day: China Life Insurance

Posted: 10 May 2012 03:25 AM PDT

We are downgrading our recommendation on China Life Insurance – ADR (NYSE:LFC) to Underperform from Neutral due to the lack of any significant growth catalyst amid the prevailing interest rate, market and currency risks. China Life’s full-year 2011 earnings declined steeply from the prior year, due to low premium income and increased impairment losses.
Operating cash flow also declined substantially due to increased claim expenses and adverse changes in the fair values of securities. Despite a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bull Of The Day: Lincoln Electric Holdings (LECO)

Posted: 10 May 2012 03:25 AM PDT

Lincoln Electric Holdings (NASDAQ:LECO) reported fiscal 2012 first quarter adjusted EPS of $0.76, versus $0.50 in the year-earlier quarter. Total revenue increased 21% year over year to a record $727 million. Both outperformed the respective Zacks Consensus Estimates.
Lincoln Electric continues to focus on its growth strategies, which include acquisitions and new product introductions. Allied with its aim of turning cost-competitive, Lincoln Electric is implementing various cost-control measures. We … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: CoreSite Realty Corporation

Posted: 10 May 2012 03:25 AM PDT

CoreSite Realty Corporation (COR) recently delivered strong first quarter results marked by an 18% increase in revenue and a 44% increase in funds from operation (FFO).
And management raised its guidance for the remainder of the year, prompting analysts to also revise their estimates higher. This sent the stock to a Zacks #2 Rank (Buy).
Along with rising estimates and strong growth projections, CoreSite pays a dividend that yields a solid 2.8%.
Company Description
CoreSite Realty is a real … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: Fresh Del Monte Produce

Posted: 10 May 2012 03:25 AM PDT

Fresh Del Monte Produce (FDP) has seen a big rise in earnings estimates following its most recent quarter making it a Zacks #1 Rank (Strong Buy).
Company Description
Fresh Del Monte Produce Inc. sells fresh and fresh-cut produce worldwide. It also offers prepared fruit and vegetables, juices, beverages, snacks, poultry, and meat products. It offers fresh produce primarily under the DEL MONTE brand, as well as under the UTC and Rosy names; and prepared fruits and vegetables, juices, beverages, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


SurModics Beats Estimates

Posted: 10 May 2012 03:25 AM PDT

SurModics Inc.'s (NASDAQ:SRDX) second quarter fiscal 2012 (ended March 31, 2012) earnings from continued operations (excluding special items) of 14 cents per share beat the Zacks Consensus Estimate of 12 cents. The company earned 11 cents per share on an adjusted basis in the year-ago quarter. Higher year over year earnings were primarily attributable to increased adjusted revenues.
Adjusted revenues climbed 4.2% year over year to $12.3 million in the reported quarter, edging past the Zacks … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Morgan Stanley In New Mortgage Mess

Posted: 10 May 2012 03:24 AM PDT

Allegations against Morgan Stanley (NYSE:MS) over the sale of mortgage-backed securities are far from over. Recently, one of the top U.S. life insurers, Prudential Financial Inc. (NYSE:PRU), has brought up charges against Morgan Stanley for the sale of $1 billion in residential mortgage-backed securities that the former had bought, according to a Bloomberg report.
The company has been accused of making false statements as well as omitting material facts prior to Prudential's purchase of the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Ultra Petroleum Upgraded To Neutral

Posted: 10 May 2012 03:24 AM PDT

We have upgraded domestic energy explorer Ultra Petroleum Corporation (NYSE:UPL) to Neutral from Underperform, reflecting the company's portfolio repositioning initiatives.
Houston, Texas-based Ultra Petroleum is an energy firm engaged in the acquisition, development, exploration and production of oil and gas properties. The company's operations are focused on the Green River Basin of southwest Wyoming, mainly covering the Pinedale and the Jonah fields.
Both of these areas are endowed with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Rating Action On Allstate

Posted: 10 May 2012 03:24 AM PDT

Earlier this week, A.M. Best Co. assigned indicative ratings of "a-" to the Senior Debt, "bbb+" to Subordinated Debt, "bbb" to Junior Subordinated Debt and  "bbb" to preferred stock of The Allstate Corporation's (NYSE:ALL) recently filed shelf registration. The rating agency also rated the preferred securities of Allstate Financing VII, VIII, IX and X as "bbb." The outlook for all assigned rating is stable.
The new shelf registration replaces the former registration that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Twin Contracts In Jacob’s Kitty

Posted: 10 May 2012 03:24 AM PDT

Series of contract wins continue to boost Jacobs Engineering Group Inc.'s (NYSE:JEC) spirit as it announced winning of two more strategic contracts. One of the contracts involves four-year agreement with Gatwick Airport and another contract is from Evonik for a New Chemical Plant.
As per the contract with Gatwick Airport Limited (GAL) in the United Kingdom, Jacobs will provide professional services support to the airport capital projects team in their plan to deliver $1.9 billion capital … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


STZ Improves Financial Flexibility

Posted: 10 May 2012 03:24 AM PDT

Leading wine and spirits distributor, Constellation Brands Inc. (NYSE:STZ), took a step forward in enhancing the flexibility of its finances by signing up for an additional credit facility with maturities ranging from five to seven years.
Constellation Brands has acquired a new senior credit facility, including a revolving credit facility and two-term loan agreements. The company's new $850 million revolving credit facility has a maturity date after five years and currently remains undrawn. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


XL Group Rebounds On Lower Cat Loss

Posted: 10 May 2012 03:24 AM PDT

XL Group (NYSE:XL) kick started 2012 with first-quarter 2012 operating income of 52 cents per share, outpacing the Zacks Consensus Estimate of 40 cents.  The company reversed the loss of 52 cents incurred in the year-ago quarter. Operating income was $165.2 million, compared with a loss of $163.0 million in the prior-year quarter.
The company fared well largely on account of lower catastrophe losses.
Adjusting for net realized gains on investments of $20.5 million, net realized and unrealized … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Estimates Up For Xilinx

Posted: 10 May 2012 03:24 AM PDT

Earnings estimates for Xilinx, Inc. (NASDAQ:XLNX) have gone up lately after the company reported better-than-expected results for the fourth quarter of 2012.
Xilinx expects strong growth from 28-nanometer and 40-nanometer product families in 2012.  The growth in six of the secondary end-market segments that the company serves convinces the management of a broad-based recovery.
Xilinx posted a net income of $134.1 million or 49 cents per diluted share in the fourth quarter of fiscal 2012, easily … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Merge Disappoints, Suspends Guidance (revised)

Posted: 10 May 2012 03:24 AM PDT

Merge Healthcare (NASDAQ:MRGE) reported loss of 2 cents per share in the first quarter of fiscal 2012, slightly up from the year-ago loss of 4 cents per share. However, adjusted EPS came in at 3 cents in the reported quarter, in line with the prior-year adjusted EPS but ahead of the Zacks Consensus Estimate of break-even.

Total revenue during the quarter stood at $61.0 million, up 16% year over year but down 4.8% sequentially. Total revenue also missed the Zacks Consensus Estimate by $6 million. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


MasterCard Rolls Out PayPass Wallet

Posted: 10 May 2012 03:24 AM PDT

Expanding its digital payments services, on Monday MasterCard Inc. (NYSE:MA) announced the launch of PayPass Wallet Services. However, it will be functional starting third quarter 2012.
PayPass Wallet is the latest next generation digital payment service that will facilitate customers a quicker, secured and relaxed mode of payments for their purchases. The payments can either be made electronically in stores or through internet using devices such as smartphones, computers, laptops and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Franklin’s April AUM Upped Slightly

Posted: 10 May 2012 03:24 AM PDT

Franklin Resources Inc. (NYSE:BEN) declared preliminary assets under management (AUM) of $726.4 billion by its subsidiaries for the end of April 2012. The company's results witnessed a slight rise from $725.7 billion as of March 31, 2012 and a decrease of 0.9% from $733.1 billion as of April 30, 2011.
Month-end total equity assets came in at $296.1 billion, down 1.3% sequentially and 7.8% on a year-over-year basis. Of the total equity assets, roughly 72% were from international sources, while … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Earnings Scorecard: DuPont

Posted: 10 May 2012 03:24 AM PDT

Chemical major EI DuPont de Nemours & Co. (NYSE:DD) started 2012 with a mixed bag in the first quarter beating the Zacks Consensus Estimate on earnings while missing on the revenue front.
Highlights from the Quarter
The company's first quarter adjusted earnings of $1.61 per share exceeded the Zacks Consensus Estimate of $1.55. The growth was primarily driven by strong performance in Agriculture and Performance Chemicals and the benefit of prior-year acquisitions in Nutrition & Health and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Earnings Preview: Beacon Roofing

Posted: 10 May 2012 03:24 AM PDT

Beacon Roofing Supply, Inc. (NASDAQ:BECN) is slated to report its second-quarter 2012 earnings results before the market opens on May 10. The Zacks Consensus Estimate for the quarter is a loss of 8 cents per share, representing an estimated year-over-year increase of 41.26%.
First Quarter Synopsis
The company, in the first quarter, reported adjusted earnings of 39 cents a share, beating the Zacks Consensus Estimate of 29 cents and exceeding the year-ago quarter earnings of 22 cents. On a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Air Products Lands Helium Pact

Posted: 10 May 2012 03:24 AM PDT

Leading industrial gas company Air Products and Chemicals Inc. (NYSE:APD) has cut a long-term helium supply deal with National Helium LLC, a fully-owned subsidiary of DCP Midstream. Helium is used in a plethora of applications including magnetic resonance imaging ("MRI"), fiber optics and semi-conductor manufacturing, analytical chemistry, metallurgy and pressurizing and purging pipes.
With this new contract, Air Products has further extended its long-term association with National Helium. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Conoco To Shed Nigerian Asset

Posted: 10 May 2012 03:24 AM PDT

ConocoPhillips (NYSE:COP) is all set to divest its Nigerian assets to bring billions of dollars for the largest independent oil and natural-gas producer in the U.S.
The company's Nigerian properties – which accounted for less than 3% of ConocoPhillips' daily output as of 2011 – comprises onshore, offshore oil and gas fields, and a stake in its LNG Brass facility. The divestitures of these assets are likely to support ConocoPhillips to raise as much as $2.5 billion and even more if those … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Higher Prices Aid Statoil’s Growth

Posted: 10 May 2012 03:24 AM PDT

Statoil ASA's (NYSE:STO) first-quarter 2012 earnings of 91 cents per ADR marched past the Zacks Consensus Estimate of 78 cents. The quarterly result also showed a significant improvement from the year-earlier earnings of 65 cents per ADR, attributable to higher liquids and gas prices.
Adjusted net income after tax came in at NOK16.8 billion (US$2.9 billion), up from the year-earlier level of NOK 11.9 billion (US$2.1 billion).
Total revenue leaped 29% year over year to NOK195.4 billion ($33.7 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Cummins Buys SCR Doser Technology

Posted: 10 May 2012 03:24 AM PDT

Cummins Inc. (NYSE:CMI) announced the acquisition of the assets of Selective catalytic reduction (SCR) doser technology from Hilite International. The acquisition of the emission control product will be completed in the third quarter of 2012, subject to the German regulatory approval.
SCR doser technology enhances the performance and durability of the SCR aftermarket systems. With this acquisition, Hilite's SCR doser technology will be included in Cummins Emission Solutions (CES) products.
The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


CSC Cuts Legal Expense For SafeAuto

Posted: 10 May 2012 03:24 AM PDT

Computer Sciences Corporation (NYSE:CSC) announced last week that it will be licensing its legal management software to SafeAuto Insurance Company. Financial details of the deal were kept confidential.
Ohio-based SafeAuto Insurance Company is a property and casualty insurance carrier. The company provides auto insurance directly to car owners across 16 states. The inexpensive insurance coverage fulfills the state-wise legal requirements.
The software named Legal Solutions Suite provides a data … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Earnings Scorecard: Boston Properties

Posted: 10 May 2012 03:23 AM PDT

Boston Properties Inc. (NYSE:BXP), a leading real estate investment trust (REIT), reported fiscal 2012 first quarter funds from operations (FFO) of $1.12 per share, which marginally missed the Zacks Consensus Estimate by a penny. Funds from operations, a widely used metric to gauge the performance of REITs, are obtained after adding depreciation and amortization and other non-cash expenses to net income.
We cover below the results of the recent earnings announcement, as well as the subsequent … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


WU Renews Agreement With CORREOS

Posted: 10 May 2012 03:23 AM PDT

The world's leading money transfer company, Western Union Co. (NYSE:WU), has announced the extension of its service with CORREOS, the national postal service provider of Spain, by signing a new 5-year agreement.
Pursuant to the contract, CORREOS will provide Western Union Money Transfer services and Western Union Business Solutions service to its customers. The postal service provider has its network spread out over 2,260 branches all over Spain and is highly accredited for its superior … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


ATVI Banks On DLCs To Boost Sales

Posted: 10 May 2012 03:23 AM PDT

Activision Blizzard Inc. (NASDAQ:ATVI) has two downloadable content packs (DLC) to offer to the gamers of PROTOTYPE 2, the action-revenge game. The two DLCs are Colossal Mayhem (releasing today) and Excessive Force (releasing on May 29, 2012).
Both the DLCs are laden with new and improved weaponry that help the protagonist of the game Sgt James Heller to hunt and kill the arch enemy, Alex Mercer. The DLCs will be available through Microsoft Corp.'s (NASDAQ:MSFT) Xbox LIVE Marketplace for its Xbox 360 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Blackstone Spreads Out In Europe

Posted: 10 May 2012 03:23 AM PDT

Recently, The Blackstone Group LP (NYSE:BX) entered the London real-estate market by acquiring the high profile Devonshire office and retail complex from Rockpoint and Abu Dhabi Investment Authority (ADIA). For the property, Blackstone paid £340 million ($540 million approximately), which is substantially lower than what was shelled out by Rockpoint and ADIA during the property market boom in 2006
Blackstone will finance the acquisition by obtaining a five-year senior loan of £210 million from … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Back-to-back Acquisitions For IRM

Posted: 10 May 2012 03:23 AM PDT

Information storage and management service provider, Iron Mountain Inc. (NYSE:IRM) recently announced that it has acquired File House Offsite Record Storage, Document Systems Inc, and First National Safe Deposit. However, the terms of the transactions were not disclosed.
File House Offsite Record Storage provides document storage solutions in the areas of Fredericksburg, Virginia, while Document Systems Inc. serves the Central and coastal South Carolina. Philadelphia-based First National Safe … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bear Of The Day: AGL Resources, Inc. (GAS)

Posted: 10 May 2012 03:23 AM PDT

We are maintaining our Underperform recommendation on AGL Resources, Inc. (NYSE:GAS) with a target price of $35. We expect shareholder sentiment toward the company to remain lukewarm, considering its investment in higher-risk unregulated operations, ongoing regulatory uncertainties and the challenging economic environment.
AGL’s earnings are likely to suffer in 2012 due to a less-than-favorable outlook at its wholesale segment. Additionally, the inclusion of the shipping operations (post Nicor … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Momentum Stock: Sally Beauty Holdings Inc.

Posted: 10 May 2012 03:23 AM PDT

Sally Beauty Holdings Inc. (SBH)
While the most recent economic data and market action may not be pretty, Sally Beauty Holdings managed to deliver some very attractive results on May 3rd. 
The global beauty supplier reported same store sales growth of 9.1% in Q2 2012 compared to 6% in the same quarter last year.  Net sales were up 10.9% to $889.3 million, which equated to Q2 net earnings of $67.8 million or 35 cents per share, an increase of 34.6% compared to Q2 2011.
Sally finds … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Growth & Income Stock: Post Properties, Inc.

Posted: 10 May 2012 03:23 AM PDT

Post Properties, Inc. (NYSE:PPS) continues to benefit from a decline in home ownership rates in the United States.
The apartment REIT delivered a 21% positive earnings surprise for the first quarter on higher occupancy rates and average monthly rents. It was Post’s 11th consecutive positive earnings surprise.
Management also raised its guidance higher for 2012, prompting analysts to revise their estimates significantly higher. It is a Zacks #2 Rank (Buy) stock.
In addition to strong earnings … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Bull Of The Day: AMERCO, Inc. (UHAL)

Posted: 10 May 2012 03:23 AM PDT

AMERCO, Inc. (NASDAQ:UHAL) is the parent company of U-Haul International, the world’s largest consumer truck rental company. It is also the second largest self-storage company in North America.
The impact of the decline in housing and a decrease in apartment occupancy rates appears to have ended. We expect continued improvements in operating parameters. Our recommendation continues as Outperform, with a price target of $110 a share.
Based on our estimates for the next four quarters’ EBITDAL of $40 a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Aggressive Growth Stock: LeapFrog Enterprises

Posted: 10 May 2012 03:23 AM PDT

LeapFrog Enterprises (LF) posted a big revenue number recently on its way to a seventh straight positive earnings surprise. This help to make the stock a Zacks #1 Rank (Strong Buy).
Company Description
LeapFrog Enterprises makes technology-based learning products and related proprietary content for children worldwide. The company offers multimedia learning platform products, including LeapPad, a kid-tough personalized learning tablet with a built-in camera and video recorder; and Leapster … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Could The US Summer Hurt My Portfolio?

Posted: 10 May 2012 03:15 AM PDT

Seasonal charts a are nice to know, but they dont rule. The funny thing about seasonal charts the last 5 years has seen more central banker involvement. So these years are more important. Lets have a look.

May to Jul are sad months. What will 2012 print … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Commodities May Correct Higher As Markets Digest Recent News-Flow

Posted: 10 May 2012 01:48 AM PDT

Talking Points

Crude Oil, Copper May Recover as Markets Digest Recent News-Flow
Gold and Silver Have Room to Correct if US Dollar Retraces Lower

Commodity prices are yielding a mixed performance in early European trade as markets look for the next market-moving catalyst having somewhat absorbed the weekend's destabilizing political news-flow out of the Eurozone. S&P 500 stock index futures are pointing narrowly higher, hinting growth-geared crude oil and copper prices may have room to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Booming Eagle Ford Shale: 47k “Shale-Ready Jobs” And $25 Billion In Economic Development In 2011

Posted: 09 May 2012 08:46 PM PDT

The Eagle Ford Shale in Texas is the “economic opportunity of a lifetime” and will potentially create 117,000 “shale-ready” full-time jobs by 2021.

From the Center for Community and Business Research at University of Texas-San Antonio:

“Development of oil and natural gas in the Eagle Ford Shale contributed $25 billion in total economic output to the region in 2011, according to a study released today by the Center for Community and Business Research.

“The Eagle Ford Shale has proven to be … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


Interesting Fact Of The Day

Posted: 09 May 2012 08:24 PM PDT

The number of food trucks and carts in NYC?  Find the amazing answer … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


The “Merde” Rally?

Posted: 08 May 2012 02:14 PM PDT

There is a silver lining in most dark clouds. When the stock market and other risky assets got clobbered over anxieties about Greece today, the silver lining is that a short-term bottom may be forming.

The chart below of SPY is just a bellwether whose analysis could be extrapolated to many other risky assets. The ETF formed a reversal day by selling off but rallying near the end of the day to a level where it roughly opened, and the action occurred on relatively high volume. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards


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