THE PIG SAYS THAT HUMANS ARE MUCH TOO IRRATIONAL OF A BEAST.JUDGING BY THE PAST WEEKS TRADING, SOME OF THEM DON'T KNOW HOW TO READ EITHER SO THE PIG SOLDIERS ON. THE PIG SEES SOME OPPORTUNITIES IN THE AFOREMENTIONED MINI MELTDOWN. HISTORY SHOWS THAT THE FLIGHT TO HARD ASSETS LIKE COMMODITIES, USUALLY HEIGHTENS IN TIMES OF CRISIS. .........SO WHATS THE PIG DEAL ? WELL.....REALLY NOT MUCH...THERE WILL ALWAYS BE TRADING OPPORTUNITIES AND PROFIT PORKTENTIAL. ALL LAST WEEK MEANS IS YOU HAVE TO WORK A BIT HARDER.
FOM.V....THIS PIGLETS BEEN ON THE PIGS SCANNER FOR THE LAST FEW DAYS. BROKE OPEN ON FRIDAY WITH A HUGE MOVE UPSIDE..MOMENTUM AND SENTIMENT VECTORS SCORING VERY HIGH, THIS IS JUGGERNAUT MATERIAL SAYS THE PIG. RUMOURS HAVE IT BIG NEWS PENDING THIS WEEK. THE PIG SAYS IT MIGHT BE A GOOD TRADE FOR THE NEXT FEW DAYS.....THIS THING HAS SOME MAJOR MOJO.....
GX.V...ONE OF THE AMAZING THINGS ABOUT THE STOCK GAME IS THE AMAZING THINGS THAT5 GO ON IN AND AROUND IT. NUMBER TWO SCANNER AND THIS CUTLET HAS ALSO BEEN SHOWING UP IN LAST WEEKS MIX. THE PIGS NOT SURE HOW TO READ A COUPLE OF THE SCANNED VECTORS BUT HERE IT IS FOR YOU ANYWAY, PUT IT ON THE WATCH LIST !
WER.V....COMEBACK OF THE WEEK ? CERTAINLY SCANNED THAT WAY. THE PIG SAYS THE JURY IS STILL OUT AS YET ON THIS CHOP. BUT SUFFICE TO SAY THAT IF THE SCANNER IS CORRECT AND MOMENTUM CONTINUES, THINGS MAY BE LOOKING IN FAVOR OF A BUY. A MAJOR TEST OF THE SCANNERS ABILITY TO PICK THEM OUT EARLY.
SXL.V......A PIG FAVORITE AND A RECCO FROM THE BEGINNING OF JANUARY. LOOKS LIKE THE STOCK MAY BE BEGINNING A NEW SPECULATION CYCLE FROM HERE. SCANNER SAYS SHES IN PLAY AND ITS MOVING SO LETS PUT THIS ON THE WATCH LIST AND SEE HOW SHE DOES.
European Markets Surge
By ISHAQ SIDDIQI
European stock markets pushed sharply higher Monday, while sovereign debt markets slumped, as market participants reacted to news of a hefty €750 billion ($955 billion) rescue package to stabilize the euro and prevent the Greek debt crisis from affecting other member countries.The Stoxx Europe 600 index jumped 4.7% to 248.40. London's FTSE 100 index was up 4% at 5333.95, Frankfurt's DAX index was 3.9% firmer at 5938.48, and Paris's CAC-40 index rallied 7.2% at 3636.91.
The Athens Stock Exchange was trading 9.7% higher at 1788.19 while Madrid's IBEX surged 10.6% to 10005.70.
The yield spreads between some of the peripheral euro-zone countries and German bunds tightened substantially after the measures. The benchmark 10-year Greek bond was yielding 7.82% more than its German counterpart, down from over 10% on Friday.
Overnight, EU finance ministers reached agreement on a support plan for nations facing financial meltdown. It will consist of up to €440 billion in loans from euro-zone governments and €60 billion from an E.U. emergency fund, in addition to €250 billion from the International Monetary Fund.
"Policy makers surprised probably even the most optimistic observers by presenting a quick and forceful, unprecedented crisis package. It does not solve the fundamental fiscal problems but it gives countries now several years for swift action," said Carsten Brzeski, economist at ING Bank.
The ECB said it will intervene in the euro zone's public and private debt markets to 'ensure depth and liquidity in those market segments which are dysfunctional.' Meanwhile, IMF Managing Director Dominique Strauss-Kahn said the IMF was "ready to support our European members' individual adjustment and recovery programs through the design and monitoring of economic measures as well as through financial assistance, when requested."
On top of this, the U.S. Federal Reserve said Sunday that it would revive an emergency lending program used during the financial crisis. The Fed will ship billions of dollars overseas through foreign central banks, including the ECB, so they can, in turn, lend the money out to banks in their home countries in need of dollar funding.
Full details have to be hammered out but given the lethargy that European policy makers have displayed up to now, the weekend announcements are bigger than most would have hoped for and may stabilize markets in the short-term, said Dermot O'Leary, economist at Goodbody Stockbrokers.
The "stabilization fund could support peripheral bond markets for a while and provide some respite to, say, Spain, Portugal and Ireland combined, for the remainder of this year and beyond. In addition, the ECB stands as buyer of government bonds, if needed," added Elga Bartsch, economist at Morgan Stanley.
Meanwhile, in the U.K., the Conservative and Liberal Democrat parties held almost seven hours of talks Sunday on a possible power-sharing deal, but negotiations look set to stretch on for some time yet. Seeking to soothe concerns, both parties sought to stress progress after Sunday's meeting, saying economic stability and reducing the budget deficit were at the center of their discussions.
Looking ahead, the unusual timing of the Bank of England's May rate announcement at 11 a.m. GMT reflects the staging of the U.K. general election, and also dictates that any monetary policy move is highly unlikely at this stage, said economists at HSBC. "The fiscal outlook will come under much closer scrutiny over the coming month and rates will very likely remain on hold until a clearer picture emerges of the pace and severity of the fiscal consolidation process, and the likely impact upon growth," they added.
On Wall Street Friday, stocks slumped for a fourth straight session, led by particular weakness in the technology sector as Thursday's tumultuous trading continued to weigh on investor sentiment. Overall, the Dow Jones Industrial Average fell 1.3% to 10,380.43, while the Standard Poor's 500 dropped 1.5% to 1110.88. The Nasdaq Composite fell 2.3% to 2265.64.
But the announcement of the rescue package helped turn sentiment, and equities climbed in Asia Monday. Japan's Nikkei 225 was up 1.6%, while South Korea's Kospi Composite gained 1.8%. Hong Kong's Hang Seng Index rose 2.2% and China's Shanghai Composite Index was up 0.4%.
In foreign exchange markets, the euro was sharply higher on news of the euro zone's stability fund. The euro was at $1.3033 from $1.2745 in late New York trade Friday, while the dollar was sharply higher against the Japanese yen, at 93.35 yen from 91.44 yen.
Among other assets, spot gold was at $1188.55 per troy ounce, down around $20 from late New York Friday, as safe haven demand for the yellow metal ebbed. In the oil market, the front-month June crude oil future contract was higher, up $2.74 at $77.85 per barrel on Globex.
Write to Ishaq Siddiqi at ishaq.siddiqi@dowjones.com
Two Ladies Talking in Heaven
1st woman: Hi! Wanda.
2nd woman: Hi! Sylvia. How'd you die?
1st woman: I froze to death.
2nd woman: How horrible!
1st woman: It wasn't so bad. After I quit shaking from the cold, I began to get warm & sleepy, and finally died a peaceful death. What about you?
2nd woman: I died of a massive heart attack. I suspected that my husband was cheating, so I came home early to catch him in the act. But instead, I found him all by himself in the den watching TV.
1st woman: So, what happened?
2nd woman: I was so sure there was another woman there somewhere that I started running all over the house looking. I ran up into the attic and searched, and down into the basement. Then I went through every closet and checked under all the beds. I kept this up until I had looked everywhere, and finally I became so exhausted that I just keeled over with a heart attack and died.
1st woman: Too bad you didn't look in the freezer---we'd both still be alive.
1st woman: Hi! Wanda.
2nd woman: Hi! Sylvia. How'd you die?
1st woman: I froze to death.
2nd woman: How horrible!
1st woman: It wasn't so bad. After I quit shaking from the cold, I began to get warm & sleepy, and finally died a peaceful death. What about you?
2nd woman: I died of a massive heart attack. I suspected that my husband was cheating, so I came home early to catch him in the act. But instead, I found him all by himself in the den watching TV.
1st woman: So, what happened?
2nd woman: I was so sure there was another woman there somewhere that I started running all over the house looking. I ran up into the attic and searched, and down into the basement. Then I went through every closet and checked under all the beds. I kept this up until I had looked everywhere, and finally I became so exhausted that I just keeled over with a heart attack and died.
1st woman: Too bad you didn't look in the freezer---we'd both still be alive.
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