http://tinyurl.com/634ecf
The market moved to 11,494 in an uphill battle yesterday, with mild whipsaw, before closing 68 points up.
The Sept590P was available below prior day close, at 9.40 up and hit highs of 12.10. We’ll continue to hold and recommend on this issue. Risk traders that took entry to the Sept600C earlier this week should sell this issue when the September590C is sold.
Upside may be in whipsaw, but is not over.
Thirty six percent of Washington, DC citizens are functionally illiterate. The national average is 21%. This is called internal self terrorism. Perhaps before we worry if a candidate is Muslim or not (he is not), we might consider teaching our own people how to read 🙂
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Everything in the U.S. is for sale. Merrill Lynch, slime of Wall Street, sold part of its assets (all falsified) for 6.6 billion, Mellenium Pharmaceutical sold for 8.8 billion.
There are reasons this is happening:
Belgian based, Brazilian controlled InBEV bought BUD. GE is selling off its appliance division, and China’s Haler and Korea’s LG (formerly RCA Victor) lead the buying frenzy.
Investors from Dubai are behind the purchase of the GM building in NYC, for 2.8 billion.
Swiss pharma Roche Holdings is on track to buy the remaining 44% of U.S. Biotech company Genetech that it doesn’t already own.
The falling USD, and our deepening credit risk, fuels these buys. Some 55% of foreign direct investment in the U.S. came from Europe last year, much because of the currency advantage, and more because owning it “real” is more valid now than holding debt. Our suitors don’t even trust our debt, and now want the real asset.
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