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Thursday, March 18, 2010

THE PIGS THURSDAY MORNING THUMPERS

THE PIG SEES THAT EAG.V HAD A COOL OFF TODAY. HOPEFULLY THOSE WHO BOUGHT, SOLD SOME OR ALL AT THE RIGHT TIME FOR A TIDY PROFIT. AFTERALL NOTHING GOES STRAIGHT UP. OVER THE YEARS THE PIG HAS LEARNED THIS PAINFUL LESSON A FEW TIMES. AFTER THE PIG MADE THAT MISTAKE ENOUGH TIMES HE DECIDED TO STOP THE HABIT IN ITS TRACKS AND MAKE A PSYCHOLOGICAL ENTRY AND EXIT POINT FOR EVERY TRADE. THUS ELIMINATING TO A LARGE DEGREE, THE EMOTION OF GREED IN THE EQUATION.
PROFIT IS GOOD BUT AS YOU ALL KNOW PIGS GET SLAUGHTERED ! IF ANYTHING I WANT YOU ALL TO LEARN, ITS THAT WITH AN ENTRY/EXIT POINT, PATIENCE AND GOOD STUDYING ABILITY, YOU CAN MAKE OUT WELL IN THIS GAME. SINCE THE PIGS CHANGE TO THIS ATTITUDE, HE HAS DONE WELL. IT TAKES TIME, BUT THESE FACTORS ARE A MUST FOR YOUR SUCCESS IN PLAYING THE MARKETS.

ON WITH THE SHOW...




































































SVT.V...HIGH SCANNER TONIGHT. BIG MOMENTUM CHANGE AND MOVING AVERAGE VECTORS IN TURNAROUND MODE. NET MONEY IMPROVEMENT. THE PIG SAYS NEW MONEY INCOMING IN ADVANCE OF SOMETHING. SHOULD BE WATCHED FOR VOLUME/LIQUIDITY IMPROVEMENTS BEFORE JUMPING INTO. MAY HAVE SOME DOUBLE POTENTIAL.




















































GVG.V......THE OTHER BIG PRODUCER ON THE NIGHT. UNDER STEADY ACCUMULATION AND SOME SHIFTS IN THE DISTRIBUTION AND MOMENTUM VECTORS. POSSIBLY NEWS NEAR OF SOME CONSEQUENCE. THE PIG SAYS A REASONABLE FLOAT AND SOME DECENT MANAGEMENT ONBOARD. MAYBE A DOUBLE NEAR TERM IN THE OFFING.


TSX Poised To Extend Rally As Commodity Prices Rise


3/17/2010 9:17 AM ET


Canadian stocks may hold on to their gains Wednesday morning on firm commodities prices and after the country reported improvement in January wholesales sales numbers.

The Federal Reserve's move to keep interest rates unchanged, while making a optimistic assessment of the US economy, and encouraging earnings reports from major companies in the recent past will likely to help lift sentiment. The U.S. stock futures also point to a higher opening. On Tuesday, the S&P/TSX Composite Index added 80.60 points or 0.67% to 12,089.40. With the advance, the TSX finished at its highest closing level since the onset of the global financial crisis in the autumn of 2008. The price of oil moved up $0.88 to $82.58 after OPEC left its output levels unchanged. Bullion moved up for the second day adding $3.0 to $1,125.50 an ounce.In corporate news, oil and natural gas explorer Petrobank Energy (PBG.TO) reported more than two-fold rise in its fourth quarter net income at C$57.1 million from C$28.08 million in the year-ago quarter. On a per diluted share basis, net income increased 65% to C$0.56 from C$0.34. Natural gas producer Encana Corp (ECA.TO) said it will hike its 2010 capital budget by 20% to $4.5 billion and double its output over the next five years.


Silicon metal producer Timminco Ltd. (TIM.TO) reported a wider loss of C$0.48 per share in the fourth quarter, compared to a loss of C$0.01 per share in the prior year period.


Brokerage services provider Belzberg Technologies (BLZ.TO) reported a wider loss of C$0.74 per share in the fourth quarter, compared to a loss of C$0.02 per share in the year ago period.


Bio-technology company BioMS Medical (MS.TO) slipped to loss in the fourth quarter, posting a consolidated net loss of C$0.08 per share, compared to a consolidated net income of C$0.01 per share in the previous year period.


Natural resources company Sprott Resource (SCP.TO) said it will offer units of its subsidiary, Stonegate Agricom Ltd., through an initial public offering.


Manufacturer of immune therapeutics Cangene Corp. (CNJ.TO) reported a lower net income of C$0.06 per share for the second quarter, compared to C$0.08 per share in the same quarter last year.


Healthcare product maker TSO3 Inc. (TOS.TO) reported a narrower fourth-quarter net loss of C$0.05 per share, compared to C$0.06 per share in the prior year period.


In economic news, Statistics Canada said wholesales sales in current dollars rose the strongest in three years by 3.0% to $44.4 billion in January. The growth in January was contributed by all the sectors, with automotive products, building materials, machinery and electronic equipments recording notable gains.


From the U.S., the Labor Department said its producer price index fell by 0.6% in February following an unrevised 1.4% increase in January. Economists were expecting a more modest decrease in prices of about 0.2%.

INVESTOR PROFILE-Commodity guru Henderson rides the bull run



Tue, Mar 16 2010


* No sign of bull run losing steam






* Fund outperforms rivals by 30 percentage points






* Sector still subject to volatility










By Claire Milhench






LONDON, March 16 (Reuters) - Ian Henderson has seen commodity markets swing from boom to bust and back again since his first brush with the sector in Canada in the 1970s, but the veteran manager of JP Morgan's Natural Resources Fund says he is now looking at a halcyon period for producers.






With over 30 years' experience in the business, 61-year-old Henderson, a scion of the Henderson wealth management dynasty, is in a unique position to call the market. And as levels of consumption in emerging markets are still a fraction of those in the developed world, Henderson believes there is no sign the commodities bull run will end soon.  The resurgence of interest in commodities has helped the fund he manages <LP60098284> for JP Morgan <JPM.N> attract 1.74 billion pounds ($2.62 billion) and it is outperforming rivals.






It's a far cry from the dark days of the 1980s and 1990s, when technology stocks hoovered up all the cash, and when scandals, such as the copper market manipulation by Yasuo "Mr Copper" Hamanaka at Sumitomo, and the Bre-X fraud based on a fictitious gold mine in Indonesia, shook investor confidence. "As a result there was very little interest in natural resources," Henderson recalls. "Commodity prices were weak and funds were closing left, right and centre because they just weren't commercial."










GOLD BECKONS






The sector turned the corner in 1991 when gold guru Julian Baring touted his James Capel Gold & General Fund around the market, eventually taking it to Mercury Asset Management. At this time Henderson was managing a global financials fund at Flemings, but having always been interested in natural resources he saw his chance and angled for a launch. "We had to twist a few arms to get the money in," he said.






By 2002, everyone was "pretty fed up" with commodities but he fought a rearguard action to save a fund that was deemed too small to be commercial. Then China hit the markets and the game changed. Commodities were back on top. The JP Morgan fund is up 87.2 percent in the 12 months to end-Feb, beating peers in the Lipper Global Natural Resources equity sector by 30 percentage points. Henderson has spent most of his working life in the City, but originally considered a legal career following a Philosophy and Politics degree at Edinburgh University. It was a desire to get his head around balance sheets that led him to an accountancy job in oil boomtown Calgary.






"It was a great place to be because of the first oil shock -- it was growing exponentially, and if you like the outdoors life there was the skiing," said Henderson, who enjoys horse riding and shooting back home. On returning to the UK he took a job at Morgan Grenfell, to whom he's clearly grateful for looking past the bell-bottom trousers he wore to the interview. Well, it was the 1970s.






It was here Henderson had another brush with commodities, taking responsibility for managing the resource-driven former colonial markets. "Because oil prices were going through the roof, some stocks went up dramatically." He cites the example of the investment bubble around the 'Rundle twins', Southern Pacific Petroleum and Central Pacific Minerals, which were trying to get oil from shale in Australia -- a commercially unviable operation. "But those stocks went up a couple of hundred times."






Commodities investment is still vulnerable to volatile price movements, which Henderson acknowledges: "No one knows how the herd is going to behave -- it is very much driven by momentum trades rather than long-term fundamental analysis." But he believes institutional investors trying to hedge their inflation risk won't be put off by short-term trends. "I don't think flows will be negative for commodity funds but price movements will be more muted this year so flows may slow."

 
Ironically, one of his biggest regrets is not investment related but the fact he once turned down an offer to join an offshoot of the family firm in Hong Kong. "It was probably the biggest career mistake I could have made because people made an absolute tonne of money out there." ($1=.6631 Pound)

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30 Years of experience in the markets, including some time as a broker.