Posts tagged anti-state

PornoScanners + PhotoShop -> Profit!!!

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For those of you who are stupid enough to believe your overlords when they tell you that there are no concerns which arise from the new pornoscanners used by the degenerate, sociopath-staffed molestation agency (known as the TSA)… shut your pie-holes.

 

Exhibit 1: a scan of a nicely formed young lovely (remember how your overlords promised you that the scanners can't store and transmit images? Oopsie!) passed through a simple colour filter.

Given the types of scumbag who work for the TSA (see, for example, the Pro Libertate blog entry on the criminal rapist scum who got jobs at the TSA), there is NO WAY I would permit these creepy shitbags to get a scan of my junk, or of my Lovely's junk, neither.

Short airlines – although they're already screwed (and I've always said they're value-destroyers), this will cause several airline stocks to go to zero.

NonRant: Storming The Bastille… Strategic Mistake.

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I deliberately let Bastille Day go by without comment: for one, the whole thing has now become a stupid glorfication of France’s descent into military dictatorship – a ridiculous display of martial pomp (which itself is funny, given that the Frogs’ last military victory was prior to the annexation of Gaul by the Romans).

Who can fail to see the irony in celebrating the Froggish political-thuggery machine on the anniversary of the overthrow of a supposedly despoliating regime?

Who can fail to see the irony of the occupation of the Elysée by Madame "Do-Me-if-You’re-Rich", the Italian Playboy’s Plaything… on the anniversary of the event that led to the execution of another bling-obsessed foreign tart – Marie Antoinette?

And of course the tax burden under which modern Frogs labour, is a large integer multiple of the taxes under any of the Bourbons. For $500,000 a WEEK, the modern Frog gets a half-breed reffo peasant dwarf-goblin whose links to organised crime are deeper than Tony Soprano’s.

I have long been an avid reader (and re-reader) of the works of Frederic Bastiat: among my favourites is "The Law", which makes clear that no government has any right that exceeds the rights of its individuals: that is, it has no right to pass ‘law’ that imposes constraints on people’s behaviour… except to prevent harm to person or property (not ‘feelings’ or ‘ideology’). 

My favourite excerpt is "We must remember that law is force, and that, consequently, the proper functions of the law cannot lawfully extend beyond the proper functions of force."

Those of you who have read stories in the media about the "Invisible Committee", painting them as radical left-wingers or anti-capitalists: Do not believe it.

Last November, the Frog thug-squad arrested the supposed ‘ringleaders’ – those who authored "The Coming Insurrection" – on "anti-terror" charges. 

You see, when individuals gather and spontaneously form voluntary associations in response to tyranny, and decide to take direct action to throw off their shackles, they are ‘brigands’, ‘lestai‘, ‘terrorists’… I can’t think of a single freedom-advocate in history who has not been termed ‘terrorist’ by the ruling clique he sought to overthrow. (Jeebus was a ‘lestai’ according to the Roman-installed puppet government).

One thing is clear: the parasite class is having trouble funding its vast array of thugs.

Once the thugs start getting the sense that their pensions are at risk, they will not continue to support the system as it is curtrently configured (with the rape of the many for the enrichment of the parasitic class and their cronies).

There will be violence – from ‘our’ side it will be highly focused, insurgent action against the thugs… and the thugs will – as thugs do – flail about in a blind and unfocused fashion on any dissenters.

 

This has one ending – free people win.

If you’re a cop, or a soldier, or any of the parasites that carry water for the political class, I would seriously think about a career change: swagger and bluster is not going to help, and continued work for the forces of tyranny could well get you killed in a way you don’t want to think about. Nobody wears kevlar in their own home – and finding people’s home addresses these days is a snap.

There is not going to be any stupid ‘storming of the Bastille’ for the next revolution: frontal confrontation is stupid and wasteful. There will be a campaign of highly-focused violence toward the ‘iron fist’ of the State – or more accurtately, towards the agents of the ‘enforcement’ arm of tyranny. 

As Afghanistan and Iraq show only too well, a highly-motivated insurgent campaign will defeat even the most technologically advanced band of hired killers… and will have better results in a domestic setting since domestic enforcers are far more cowardly than actual soldiers (police are only comfortable working in ‘war-zones’ where 99% of the counterparties are unarmed).

NonRant: Goldman Bitten Again…

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As you are probably aware, dearest Reader, I am not a big fan of newspapers. Whether it’s Judith Miller whoring herself by serving as a funnel for propaganda, or Bill Kristol just being absolutely dead fucking wrong all the time about everything, I find newspapers more irritating than informative.

Caveat: Gretchen Morgenson’s work at the NYT is excellent – but the existence of a NYT columnist without their head up their ass is like the existence of a single benign cancer cell in a massive metastatic tumour.

Anyhow… blogs are rapidly replacing newspapers as sources of quality information: anything in the print version of a newspaper is already a day old, and even the awful ‘red banner’ newspapers in Britain are failing to furnish a product that ‘pays its way’.

Recently Tyler Durden over at ZeroHedge had been pretty incensed at the fact that the NYSE had decide to stop publishing program trading data – Durden had shown that Goldman Sachs was dominating the stats to such an extent that it was worth investigating.

IT seemed a simple enough story – akin to the Fed’s decision to stop publishing M3 when it became clear that they had lost control of the US money supply.

That is, both stories appeared to be motivated by a clique of vermin who were more interested in covering their asses (and those of their collaborators) than in helping end ‘The Bezzle’ (as TickerGuy calls it).

Anyhow… Durden was rightfully indignant at the NYSE’s decision, and said so unreservedly. And then he broke a much much bigger story… that Goldman’s prop trading desk may well have had its algorithms nicked.

In light of what I said about newspapers just above, note that it was a Reuters journo who did the finishing digging, but there is no doubt that the journo in question was motivated by ZeroHedge’s ongoing discussion of Goldman’s chicanery. (Plus, although Reuters is shit – although not as shit as AP – it is not formally a ‘newspaper’).

The next question that has to be asked, is as follows: When will the SEC roll into GS and start handcuffing people?

I’m not talking about the perp of the ‘commercial espionage’ here – he’s already in custody.

I’m talking about the compliance people at GS, who are supposed to report to the SEC, and the markets, any event that is likely to have a material impact on the operation of the company or its securities.

Goldman gets a pass on far too much – let’s hope that this event cracks their share price wide open… one thing about political influence: if your company is embroiled in this sort of shit, your bang-for-the-buck from influence-peddling falls with the square of the fall in the stock price: political parasites love power, and they love being bribed and suborned, but they hate reflected scandal.

OzRant: Soft (After a Monday Orgasm)…

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Update – 8:20 p.m., June 29th: turns out that doing the e-mail post thing, stripped out all of the javascript that enabled the pop-up ‘RantBox’ links. I’ve had to go through and change the engine so that it uses ‘onclick’ events… let’s see if those get stripped out.


 

See that? The OzRant gen-text wrote itself and posted itself, exactly as planned, and exactly on time (4:43 p.m.). I reckon that by reorganising the scripts, the gen-text could be produced by 4:20 (five minutes after the closing matchout).

The primary reason each day’s gentext is not ready until 4:42pm, is that there are about 20 scripts that collect, store, and process the day’s data, and these are run in sequence using cron.

Cron can’t be set to trigger the next script the moment the current script completes, and so I have to leave a margin for error between the scripts that take a while to execute (most of my scripts complete in 15 seconds,but several take 70-odd seconds… going over into the next minute).

So I can cron some of the scripts in consecutive minutes, but not all. I’m thinking of trying to combine the scripts into one bash file, and then just cron the bash. 

The ‘auto-post’ of the gentext doesn’t save me a whole bunch of time each day – maybe ten minutes (five per Rant).

It used to be that I would have to

  • open WinSCP
  • navigate to /Rants
  • open OzRant (or USRant) in kompoZer,
  • edit the post,
  • copy/pase into blog software
  • hit ‘Post’.

Now, I go to the blog, and hit the ‘Edit’ tag on the top post (which is there auto-magically) and add thoughts.

There was another high-yield side benefit though – another twenty or so minutes a day was saved by de-crufting the engines that write the gentext (removing the requirement to tidy the gentext up by hand).

And that goes to something I’ve written about before – this silly habit that we all have: putting off doing something that would take us X hours, but which yields 0.3X a day in perpetuity. That is, consistently failing to do a thing that has a very high internal rate of return.

Contrariwise, we continue to do things that have negative rates of return – putting sugar in coffee, and so forth. (One teaspoon a day – 16 calories – is a pound of bodyfat a year)

On to something more interesting…

Adam Weishaupt was an anarchist; he understood (in his day) that the Church was the biggest impediment to human liberty. He also understood that liberty provided the means of human perfectibility.

Bruno, de Molay, de la Boetie and Galileo understood he same thing, as did Jefferson and Paine.

Today, membership of any Church is voluntary (in the West, at least). Nowadays, the biggest impediment to human liberty is the layer of parasitic scum that infest our society, and he thugs they use to enforce comliance (just as the Church previously had its enforcers).

Diderot once wrote "Mankind will never be free until the last king is strangled with the entrails of the last priest".

That was true in his day: updated, it becomes "Man will be free when the last politician is bludgeoned to death with the severed arm of the last police sniper".

Major Market Indices

The broad market – the All Ordinaries (XAO) – declined gently, dropping 16.8 points (0.43%), finishing at 3882.7 points. The index hit an intraday high of 3921.7 at 11:08 am, while the low for the day was 3880 – set at 3:29 pm Sydney time.

Total volume traded on the ASX was 1.75bn units, 16.3% below its 10-day average of 2.09bn shares.The ASX’s daily listing of all stocks included 1485 different 3-letter FPO’s which traded (i.e., had non-zero trade volume). Of these, 419 issues rose, with volume in rising issues totalling 487.5m units; there were 683 declining stocks, which traded aggregate declining volume of 873m shares.

Of the 496 All Ordinaries components, 136 rose while 272 fell. Volume was tilted in favour of the losers by a margin of 2.2:1, with 254.89m shares traded in gainers while 554.85m shares traded in the day’s losers.

The Index that forms the cash basis for the SPI Futures – the S&P/ASX 200 (XJO) – fell mildly, losing 16.9 points (0.43%), closing out the session at 3886.9 points.

GT Intraday Chart

Name Close +/-(%)
All Ordinaries 3882.70 -16.80 (0.4%)
ASX 20 2351.20 -6.50 (0.3%)
ASX 50 3907.00 -13.10 (0.3%)
ASX 100 3184.00 -12.90 (0.4%)
ASX 200 3886.90 -16.90 (0.4%)
ASX 300 3882.20 -17.20 (0.4%)
ASX Mid-Cap 50 3483.10 -33.40 (0.9%)
ASX Small Ordinaries 2062.00 -19.10 (0.9%)

The "heavy hitters" of the Australian market – the ASX 20 Leaders (XTL) – slid modestly, falling 6.5 points (0.28%), closing out the session at 2351.2 points.

Among the 20 big guns, 8 index components finished to the upside, and 13 lost ground. The stocks which make up the index traded a total of 145.8m units; 8 index components rose, with rising volume amounting to 77.53m shares, while the 13 decliners had volume traded totalling 68.28m units. The major percentage gainers within the index were

  • Telstra Corp Ltd (TLS), +$0.06 (1.83%) to $3.34 on volume of 43.5 million shares;
  • Westfield Group (WDC), +$0.17 (1.5%) to $11.49 on volume of 10.3 million shares;
  • Wesfarmers Ltd (WES), +$0.15 (0.69%) to $21.98 on volume of 2.7 million shares;
  • Commonwealth Bank Australia (CBA), +$0.26 (0.67%) to $38.92 on volume of 4.4 million shares; and
  • Foster’s Group Ltd (FGL), +$0.03 (0.6%) to $5.06 on volume of 3.8 million shares.

 

On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:

  • Suncorp-Metway Ltd (SUN), -$0.2 (3.02%) to $6.42 on volume of 4.6 million shares;
  • RIO Tinto Ltd (RIO), -$0.73 (1.43%) to $50.27 on volume of 2.9 million shares;
  • ANZ Banking Group (ANZ), -$0.19 (1.16%) to $16.21 on volume of 7.9 million shares;
  • Westpac Banking Corp (WBC), -$0.22 (1.1%) to $19.78 on volume of 6.9 million shares; and
  • Woolworths Ltd (WOW), -$0.28 (1.08%) to $25.68 on volume of 3.2 million shares.

 

The ASX Small Ordinaries (XSO) – The small end of the market had significantly worse day than its large-cap counterpart. The Small Ords slid modestly, falling 19.1 points (0.92%), closing out the session at 2062 points.

Among the stocks that make up the Small Caps index, 59 index components finished to the upside, and of the rest, 129 closed lower for the session.

The 215 stocks which make up the index traded a total of 409.69m units: volume in the 59 gainers totalling 85.09m shares, with trade totalling 246.77m units in the index’s 129 declining components. The major percentage gainers within the index were

  • Oakton Ltd (OKN), +$0.28 (13.92%) to $2.25 on volume of 362.1 thousand shares;
  • MEO Australia (MEO), +$0.03 (11.63%) to $0.24 on volume of 18.2 million shares;
  • Sylvania Resources (SLV), +$0.15 (9.68%) to $1.70 on volume of 238.3 thousand shares;
  • Avoca Resources Ltd (AVO), +$0.13 (8.06%) to $1.68 on volume of 1.8 million shares; and
  • Straits Resources Ltd (SRL), +$0.14 (7.18%) to $2.09 on volume of 3.6 million shares.

 

In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percent
age decline):

  • FKP Property Group (FKP), -$0.22 (28.29%) to $0.55 on volume of 3.8 million shares;
  • ROC Oil Co Ltd (ROC), -$0.11 (12.22%) to $0.79 on volume of 15.3 million shares;
  • United Minerals Corporation NL (UMC), -$0.08 (9.41%) to $0.77 on volume of 453 thousand shares;
  • Arafura Resources Ltd (ARU), -$0.06 (8.33%) to $0.66 on volume of 217.2 thousand shares; and
  • PanAust Ltd (PNA), -$0.03 (8.11%) to $0.34 on volume of 31.6 million shares.

 

 

Index Changes
Code Name Close +/- % Volume
XAO All Ordinaries 3882.7 -16.8 -0.43 968.5m
XFL ASX 50 3907 -13.1 -0.33 306.7m
XJO ASX 200 3886.9 -16.9 -0.43 794.7m
XKO ASX 300 3882.2 -17.2 -0.44 930.6m
XMD ASX Mid-Cap 50 3483.1 -33.4 -0.95 233.7m
XSO ASX Small Ordinaries 2062 -19.1 -0.92 390.2m
XTL ASX 20 2351.2 -6.5 -0.28 134.6m
XTO ASX 100 3184 -12.9 -0.4 540.4m
Market Breadth
  ASX20 XTO XJO XAO XSO Market
Advances 8 27 56 136 59 419
Declines 13 75 141 272 129 683
Advancing Volume 77.5m 172.8m 216.5m 254.9m 85.1m 487.5m
Declining Volume 68.3m 352.9m 502.5m 554.9m 246.8m 873m
GICS Industry Indices

Among the 11 industry indices, 3 registered an advance for the session, the remaining 8 lost ground.

The best performing index was Telecommunications (XTJ), which added 21 points (1.85%) to 1158.3 points. This index only contains 3 stocks; they traded a total of 48.31m units today. 3 index components rose, with rising volume amounting
to 48.31m shares, none of the stocks in the index lost ground. The major percentage gainers within the index were

  • Telecom Corporation Of New Zealand Ltd (TEL), +$0.05 (2.33%) to $2.20 on volume of 3.9 million shares;
  • Telstra Corp Ltd (TLS), +$0.06 (1.83%) to $3.34 on volume of 43.5 million shares; and
  • Singapore Telecommunications Ltd (SGT), +$0.02 (0.78%) to $2.57 on volume of 858.1 thousand shares.

 

Second in the index leadership stakes was Information Technology (XIJ), which gained 9 points (1.76%) to 519.7 points. This index only contains 3 stocks; they traded a total of 1.99m units today. 2 index components rose, with rising volume amounting to 1.47m shares, while the sole declining stock traded 0.52m units. The major percentage gainers within the index were

  • SMS Management & Technology Ltd (SMX), +$0.09 (2.31%) to $3.99 on volume of 258.2 thousand shares; and
  • Computershare Ltd (CPU), +$0.18 (2.09%) to $8.80 on volume of 1.2 million shares.

 

The bronze medal for today goes to Property Trusts (XPJ), which climbed 4.9 points (0.66%) to 747.9 points. The 22 stocks which make up the index traded a total of 209.19m units; 7 index components rose, with rising volume amounting to 82.9m shares, while the 13 decliners had volume traded totalling 103.3m units. The major percentage gainers within the index were

  • GPT Group (GPT), +$0.02 (4.21%) to $0.50 on volume of 38.7 million shares;
  • Macquarie Countrywide Trust (MCW), +$0.02 (3.88%) to $0.54 on volume of 4.7 million shares;
  • Dexus Property Group (DXS), +$0.02 (2.1%) to $0.73 on volume of 16.1 million shares;
  • Westfield Group (WDC), +$0.17 (1.5%) to $11.49 on volume of 10.3 million shares; and
  • Babcock & Brown Japan Property Trust (BJT), +$0.01 (1.43%) to $0.36 on volume of 2.3 million shares.

 

The worst-performed index for the session was Energy (XEJ), which dipped 186 points (1.27%) to 14424.5 points. The 23 stocks which make up the index traded a total of 53.3m units; The 19 decliners had volume traded totalling 45.74m units, and 4 index components rose, with rising volume amounting to 7.55m shares, The major percentage decliners within the index were

  • ROC Oil Co Ltd (ROC), -$0.11 (12.22%) to $0.79 on volume of 15.3 million shares;
  • Riversdale Mining Ltd (RIV), -$0.24 (4.44%) to $5.17 on volume of 395.6 thousand shares;
  • WorleyParsons Ltd (WOR), -$0.9 (3.75%) to $23.13 on volume of 675 thousand shares;
  • Energy Resources Of Australia (ERA), -$0.71 (3.09%) to $22.24 on volume of 185.9 thousand shares; and
  • Nexus Energy (NXS), -$0.01 (2.74%) to $0.36 on volume of 5 million shares.

 

Just missing out on the wooden spoon was Utilities (XUJ), which slid 46.6 points (1.18%) to 3913.7 points. The 11 stocks which make up the index traded a total of 39.29m units; The 9 decliners had volume traded totalling 35.02m units, and 2 index components rose, with rising volume amounting to 4.27m shares, The major percentage
decliners within the index were

  • Energy World Corporation Ltd (EWC), -$0.04 (5.71%) to $0.66 on volume of 3 million shares;
  • Babcock & Brown Power (BBP), -$0 (4.71%) to $0.08 on volume of 3.3 million shares;
  • Babcock & Brown Infrastructure Group (BBI), -$0 (4.29%) to $0.07 on volume of 16 million shares;
  • Hastings Diversified Utilities Fund (HDF), -$0.05 (3.98%) to $1.09 on volume of 1.2 million shares; and
  • Spark Infrastructure Trust (SKI), -$0.04 (3.64%) to $1.06 on volume of 2.4 million shares.

 

Third-to-last amongst the sector indices was Industrials (XNJ), which slid 31 points (1.05%) to 2929.5 points. The 34 stocks which make up the index traded a total of 111.08m units; The 23 decliners had volume traded totalling 88.88m units, and 7 index components rose, with rising volume amounting to 3.59m shares, The major percentage decliners within the index were

  • Boart Longyear (BLY), -$0.02 (5.66%) to $0.25 on volume of 26 million shares;
  • Hills Industries Ltd (HIL), -$0.07 (4.43%) to $1.51 on volume of 312.9 thousand shares;
  • Emeco Holdings (EHL), -$0.02 (3.66%) to $0.40 on volume of 3.3 million shares;
  • Cabcharge Australia Ltd (CAB), -$0.2 (3.64%) to $5.30 on volume of 1.5 million shares; and
  • Spotless Group Ltd (SPT), -$0.08 (3.4%) to $2.27 on volume of 918.5 thousand shares.

 

Sector Indices

Code GICS Sector Close +/- % Volume
XTJ Telecommunications 1158.3 21 1.85 48m
XIJ Information Technology 519.7 9 1.76 2m
XPJ Property Trusts 747.9 4.9 0.66 209m
XHJ Healthcare 8089.4 -11.4 -0.14 14m
XSJ Consumer Staples 6486 -9.5 -0.15 39m
XXJ Financials ex Property Trusts 4237 -14.7 -0.35 68m
XDJ Consumer Discretionary 1270.1 -9.1 -0.71 33m
XMJ Materials 9920.9 -91.6 -0.91 218m
XNJ Industrials 2929.5 -31 -1.05 111m
XUJ Utilities 3913.7 -46.6 -1.18 39m
XEJ Energy 14424.5 -186 -1.27 53m

All Ordinaries Major Movers

All Ords Volume Leaders
Code Name Close +/- % Volume
TLS Telstra Corp Ltd 3.34 0.06 1.83 43.5m
GPT GPT Group 0.50 0.02 4.21 38.7m
BSL Bluescope Steel Ltd 2.52 0.00 0 31.8m
PNA PanAust Ltd 0.34 -0.03 -8.11 31.6m
MOF Macquarie Office Trust 0.22 -0.02 -6.52 30.7m
All Ords Percentage Gainers
Code Name Close +/- % Volume
OKN Oakton Ltd 2.25 0.28 13.92 362.1k
MEO MEO Australia 0.24 0.03 11.63 18.2m
TCQ Trinity Consolidated Group 0.17 0.02 10 136k
SLV Sylvania Resources 1.70 0.15 9.68 238.3k
AVO Avoca Resources Ltd 1.68 0.13 8.06 1.8m
All Ords Percentage Losers
Code Name Close +/- % Volume
FKP FKP Property Group 0.55 -0.22 -28.29 3.8m
GWR Golden West Resources 0.40 -0.07 -13.98 293k
ROC ROC Oil Co Ltd 0.79 -0.11 -12.22 15.3m
UMC United Minerals Corporation NL 0.77 -0.08 -9.41 453k
PME PRO Medicus 0.68 -0.07 -9.33 50k

NonRant: The Oscar GoesTo…

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Carlos Latuff is a cartoonist whose work I really admire – he’s both a good cartoonist and politically ‘on point’… for example:

Some Iran Facts…

Iran has a Tax-to-GDP ratio of 7.3% (top income tax rate of 35% and corporate taxes at a flat 25%).

Iran has a trade SURPLUS of 5% of GDP (although for 2009 it is forecast to shrink to a deficit of just under 1% of GDP), and its government has saddled the population with a government debt to GDP ratio of just 4% (as opposed to 65% – and rising – for the US, IGNORING 95 trillion in unfunded future social security and other welfare benefits).

Iran has not invaded anybody for a few hundred years.

Iran’s incarceration rate is on a par with Europe (and less than 1/5th of the US’) and its life-expectancy is identical. GDP per capital is very low, but is in the top quintile of countries in its region.

Meanwhile, US goons are detaining people for thoughtcrime.

 

 

As you know, I have no dog in this fight (the Iranian election): as I’ve said countless times, I want ALL politicians (and their thugs) to be ground up into a fine paste and fed to free-range pigs, but the hypocrisy of calling ‘Freedom’ on the other guy when your own government takes half your shit, is absolutely appalling.

The Green Revolution is a scam – and I know, because otherwise the names of Iranian security personnel would have been up on the bidding lists in the ‘assassination pools’ on freenet prior to the kick-off. Like they were for Thailand, Zimbabwe and other places where the security apparatus inexplicably reduced its effectiveness (knock off a few of them and email their colleagues, and you will see an operational definition of ‘humans respond to incentives’).

You see, there are folks who have had a gutful of swaggering armed goons and political overlords, and those folks are committed to making the former go away (violently) so that the latter have no way of enforcing their tyranny.

Jefferson would have loved it, and it is coming soon to a black-uniformed shitbag near you.

To paraphrase Diderot: man will be free when the last politician is bludgeoned to death with the severed arm of the last police sniper.

NonRant: … Then, You Win

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You will have seen the ‘Project 729’ link in the sidebar, dearest reader – the one which encourages people to engage in a voluntaryist boycott of the tribalist genocidal AshkeNazi enclave in occupied Palestine.

For those naysayers who think that such things don’t do anything concrete, consider that the aforementioned enclave has suffered such a decline in trade, that it has started engaging in typical deceptive behaviour – bribing supermarkets (even in Australia) to put domestic labels on oranges from Jaffa. There have been stories in the Israeli press about it, and The Lobby whines about it all the time. So it’s working.

Well before I learned of the global campaign, I started boycotting 729 products when the local Carrefour helpfully pointed out that the sweet potatoes they stocked were from the aforementioned enclave. So… every time we were in the vegetable section, I made a point of saying "Regarde, cherie… les patate-douces proviennent d’"Israel". Faut pas les acheter." (It’s hard to embed the [sic] quotation marks when speaking – the word ‘Israel’ must always be in quotes when applied to the AshkeNazi enclave of racist thugs.)

Now while Tel Aviv is renowned as being far more liberal’ than J’lem, and while any person who migrated to the aforementioned enclave with the aid of the government-of-occupation has a moral duty to leave the country and repudiate the occupation, it is still excellent to see the story in Haaretz indicating that a Tel Aviv vegan bar bans IDF soldiers and products from settlements.

With the relatively easy demasking of the ‘Iranian Green revolution’ as a US/Israeli psy-op (one thing about Twitter is that it makes tracing the origin of tweets relatively easy), the ZioNazi Axis of Genuine Evil is a step closer to self-immolation – soon the only audience they will have will be each other and they can feel free to circle-jerk themselves raw.

 

You’ll have noticed the absence of market-based Rants on Friday – that’s because I actually did come down with something that did a reasonable rendition of Swine Flu. I spent most of the weekend trying new and interesting ways to drain preternaturally green, thick goo from my lungs.

Of course it was just normal seasonal flu, that kills about twenty people a week during the colder months. It was never going to do me any real harm because I’m not immune-suppressed – that is to say, I’m not

  • malnourished;
  • a formula-fed infant (to repeat point 1 above);
  • an oldie-von-mouldy;
  • an IV druggie; or
  • a ‘catcher’ in the fudge-packer scene.

 

Nothing against any of those categories – ‘Do what thou wilt’ in your private life so long as you don’t use aggressive violence.

 

Still, in the depths of Saturday night as my breath became bubbly and my coughing fits registered on seismographs in the South Pacific, I was seized by the thought that perhaps this habit of thumbing one’s nose at the Cosmos carries the risk of a hideously ironic early death (e.g., call ‘bullshit’ on Swine Flu, die of Swine Flu four days later).

It would be genuinely funny if such a thing happened. And I have an epitaph ready for such an eventuality:

"I Bet Everybody I Wanted Dead, Died Before I Did".

OzRant: All Censors are Sick Pervs…

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Those who buy stocks based on the company's contracts with government got a super-clear lesson over the last two sessions, as the incoming government of Mongolia decided it didn't like the deal struck between RIO and the outgoing government. Doubtless the right palms were greased at the time the deal was signed, but as of yesterday they were the wrong palms.

That's the way it goes when you get into bed with the parasite-political class – they can change the rules whenever the hell they feel like it, and declare their actions 'legal' by simply generating a new 'law'. 

That's why any stock that does a significant portion of its business with government – any government – should be priced using a significantly higher risk premium than those who rely on private-sector clientele. It might seem great to be dealing with a counterparty whose budget constraint depends only on its ability to extort money from its 'citizens', but you have to remember that the political class are the most unprincipled, dishonest vermin to ever infest human settlements. There is only ONE way to the top in politics, and that is by dirty deeds. If you believe otherwise, then you're naive.

Anyhow… I'm certain that I've contracted Swine Flu. 

Just kidding – I have a runny nose and I'm feeling a bit tired, is all.

Swine Flu – like SARS and Bird Flu before it – is just another government beat-up to divert the limited attention of the populace (and to divert large amounts of public funds to politically-connectedPharma – Rumsfeld is a big player in Tamiflu). 

It's part of the TECK axis of fake evil… Terrorism, Epidemics, ClimateChaos and KiddiePorn. 

All of these represent completely government-generated scare campaigns encouraging couch-bound morons to over-estimate a set of absolutely microscopic risks – because it's easier to fleece a scared population if your claimed product is security.  

Plus, it helps to take people's minds off the fact that trillions of dollars are being siphoned out of their pockets and transferred to government cronies.

I also noticed that the Strayan government – in a typical Stalinist attempts to control the information flowing to its livestock – will impose fines of $11k on anybody who so much as links to one of the thousands of sites that the government has placed on its modern version of the Inquisition's Index of Banned Books.

The decision to copy such bastions of freedom and respect for human rights as North Korea and China is salutary: it shows that for parasitic scum like KRudd and his cronies, liberty is a word that is important only insofar as you can use it in a slogan which you then repudiate through your actions.

Well guess what – that only applies to sites hosted in Australia: KRudd is prepared to sound the death knell of Australian webhosts (who are already at a massive cost disadvantage relative to their overseas counterparts).

Here is the link to the WikiLeaks page that lists KRudd's banned sites list – some of which are there solely because their content is philosophically opposed to things that government thinks are important.

In Brief: Fuck You, KRudd. We are not children, nor are we livestock.

Major Market Indices

The broad market – the All Ordinaries (XAO) – declined gently, dropping 16.8 points (0.43%), finishing at 3887.4 points. 

The index hit an intraday high of 3914.9 at 10:19 am, while the low for the day was 3870.1 – set at 2:49 pm Sydney time. The closing print was 12 points higher than the index level at 3:59p.m. – indicating that somebody manipulated the closing matchout. 

Total volume traded on the ASX was 2.27bn units, 6.4% above its 10-day average of 2.13bn shares.The ASX's daily listing of all stocks included 1354 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 453 issues rose, with volume in rising issues totalling 883.4m units; there were 580 declining stocks, which traded aggregate declining volume of 1.06bn shares.

Of the 499 All Ordinaries components, 174 rose while 235 fell. Volume was tilted in favour of the losers by a margin of 1.3:1, with 662.44m shares traded in gainers while 893.02m shares traded in the day's losers.

The Index that forms the cash basis for the SPI Futures – the S&P/ASX 200 (XJO) – fell mildly, losing 19.3 points (0.49%), closing out the session at 3884.8 points.

GT Intraday Chart

Name Close +/-(%)
All Ordinaries 3887.40 -16.80 (0.4%)
ASX 20 2352.60 -9.30 (0.4%)
ASX 50 3910.50 -10.50 (0.3%)
ASX 100 3187.90 -9.20 (0.3%)
ASX 200 3884.80 -19.30 (0.5%)
ASX 300 3880.20 -19.50 (0.5%)
ASX Mid-Cap 50 3496.70 -15.00 (0.4%)
ASX Small Ordinaries 2068.50 -12.50 (0.6%)

The "heavy hitters" of the Australian market – the ASX 20 Leaders (XTL) – slid modestly, falling 9.3 points (0.39%), closing out the session at 2352.6 points.

Among the 20 big guns, 10 index components finished to the upside, and 11 lost ground. The stocks which make up the index traded a total of 276.39m units; 10 index components rose, with rising volume amounting to 85.27m shares, while the 11 decliners had volume traded totalling 186.56m units. The major percentage gainers within the index were

  • Macquarie Group Ltd (MQG), +$1.02 (2.84%) to $36.97 on volume of 2.1 million shares;
  • CSL Ltd (CSL), +$0.83 (2.74%) to $31.13 on volume of 5.8 million shares;
  • Foster's Group Ltd (FGL), +$0.10 (1.97%) to $5.17 on volume of 10.6 million shares;
  • Wesfarmers Ltd (WES), +$0.40 (1.86%) to $21.87 on volume of 7.3 million shares; and
  • Westfield Group (WDC), +$0.20 (1.82%) to $11.21 on volume of 12.2 million shares.

 

On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:

  • Rio Tinto Ltd (Rights) (RIOR), -$5.44 (18.29%) to $24.30 on volume of 3.4 million shares;
  • Rio Tinto Ltd (RIO), -$5.16 (8.95%) to $52.52 on volume of 9.2 million shares;
  • BHP Billiton Ltd (BHP), -$0.96 (2.69%) to $34.70 on volume of 26.9 million shares;
  • Telstra Corp Ltd (TLS), -$0.04 (1.19%) to $3.32 on volume of 72.2 million shares; and
  • Newcrest Mining Ltd (NCM), -$0.36 (1.16%) to $30.72 on volume of 3.2 million shares.

 

The ASX Small Ordinaries (XSO) The small end of the market had significantly worse day than its large-cap counterpart. The Small Ords slid modestly, falling 12.5 points (0.6%), closing out the session at 2068.5 points.

Among the stocks that make up the Small Caps index, 73 index components finished to the upside, and of the rest, 114 closed lower for the session.

The 214 stocks which make up the index traded a total of 537.58m units: volume in the 73 gainers totalling 164.06m shares, with trade totalling 290.02m units in the index's 114 declining components. The major percentage gainers within the index were

  • Eastern Star Gas (ESG), +$0.10 (13.29%) to $0.81 on volume of 8.4 million shares;
  • Macquarie Leisure Trust (MLE), +$0.16 (12.55%) to $1.44 on volume of 1.8 million shares;
  • Minemakers (MAK), +$0.06 (10.53%) to $0.63 on volume of 983.9 thousand shares;
  • Wotif.com Holdings (WTF), +$0.42 (10.22%) to $4.53 on volume of 2.6 million shares; and
  • Sundance Resources (SDL), +$0.01 (6.25%) to $0.17 on volume of 27.2 million shares.

 

In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):

  • Lynas Corporation (LYC), -$0.07 (12.84%) to $0.48 on volume of 17.4 million shares;
  • ING Industrial Fund (IIF), -$0.04 (12.07%) to $0.26 on volume of 9.3 million shares;
  • Apex Minerals NL (AXM), -$0.02 (10%) to $0.18 on volume of 9.4 million shares;
  • Centro Properties Group (CNP), -$0.01 (9.09%) to $0.10 on volume of 3 million shares; and
  • Hastie Group (HST), -$0.11 (7.92%) to $1.22 on volume of 4.2 million shares.

 

 

Index Changes
Code Name Close +/- % Volume
XAO All Ordinaries 3887.4 -16.8 -0.43 1698.4m
XFL ASX 50 3910.5 -10.5 -0.27 639.8m
XJO ASX 200 3884.8 -19.3 -0.49 1520.6m
XKO ASX 300 3880.2 -19.5 -0.5 1649.8m
XMD ASX Mid-Cap 50 3496.7 -15 -0.43 508m
XSO ASX Small Ordinaries 2068.5 -12.5 -0.6 502m
XTL ASX 20 2352.6 -9.3 -0.39 251.1m
XTO ASX 100 3187.9 -9.2 -0.29 1147.8m
Market Breadth
  ASX20 XTO XJO XAO XSO Market
Advances 10 45 85 174 73 453
Declines 11 57 108 235 114 580
Advancing Volume 85.3m 495.9m 618.4m 662.4m 164.1m 883.4m
Declining Volume 186.6m 679.3m 828m 893m 290m 1.06bn
GICS Industry Indices

Among the 11 industry indices, the outcome favoured the upside, but only just – the 6 advancing sectors just triumphed the 5 losing sectors.

The best performing index was Healthcare (XHJ), which added 107.1 points (1.37%) to 7934.1 points. The 10 stocks which make up the index traded a total of 23.67m units; 5 index components rose, with rising volume amounting to 13.81m shares, while the 5 decliners had volume traded totalling 9.86m units. The major percentage gainers within the index were

  • CSL Ltd (CSL), +$0.83 (2.74%) to $31.13 on volume of 5.8 million shares;
  • ResMed Inc (RMD), +$0.11 (2.29%) to $4.92 on volume of 1.3 million shares;
  • ISOFT Group Ltd (ISF), +$0.01 (1.49%) to $0.68 on volume of 2.5 million shares;
  • Healthscope Ltd (HSP), +$0.06 (1.4%) to $4.34 on volume of 2 million shares; and
  • Primary Health Care Ltd (PRY), +$0.01 (0.18%) to $5.46 on volume of 2.2 million shares.

 

Second in the index leadership stakes was Consumer Staples (XSJ), which gained 47.8 points (0.74%) to 6495 points. The 12 stocks which make up the index traded a total of 55.98m units; 7 index components rose, with rising volume amounting to 37.73m shares, while the 5 decliners had volume traded totalling 18.25m units. The major percentage gainers within the index were

  • Foster's Group Ltd (FGL), +$0.10 (1.97%) to $5.17 on volume of 10.6 million shares;
  • Wesfarmers Ltd (WES), +$0.40 (1.86%) to $21.87 on volume of 7.3 million shares;
  • Coca-Cola Amatil Ltd (CCL), +$0.10 (1.16%) to $8.75 on volume of 3.4 million shares;
  • Metcash Ltd (MTS), +$0.03 (0.71%) to $4.27 on volume of 6.2 million shares; and
  • Woolworths Ltd (WOW), +$0.12 (0.47%) to $25.62 on volume of 6 million shares.

 

The bronze medal for today goes to Financials ex Property Trusts (XXJ), which climbed 29.7 points (0.71%) to 4201.8 points. The 25 stocks which make up the index traded a total of 118.63m units; 14 index components rose, with rising volume amounting to 60.41m shares, while the 10 decliners had volume traded totalling 56.87m units. The major percentage gainers within the index were

  • Australand Property Group (ALZ), +$0.03 (5.49%) to $0.48 on volume of 4.9 million shares;
  • Eircom Holdings (ERC), +$0.05 (4.52%) to $1.16 on volume of 812.5 thousand shares;
  • Challenger Fin Ser (CGF), +$0.09 (4.04%) to $2.32 on volume of 2.3 million shares;
  • Platinum Asset Management (PTM), +$0.13 (3.17%) to $4.23 on volume of 976.5 thousand shares; and
  • Macquarie Group Ltd (MQG), +$1.02 (2.84%) to $36.97 on volume of 2.1 million shares.

 

The worst-performed index for the session was Materials (XMJ), which dipped 319.1 points (3.07%) to 10085.5 points. The 47 stocks which make up the index traded a total of 343.18m units; The 33 decliners had volume traded totalling 275.64m units, and 12 index components rose, with rising volume amounting to 55.74m shares, The major percentage decliners within the index were

  • Rio Tinto Ltd (Rights) (RIOR), -$5.44 (18.29%) to $24.30 on volume of 3.4 million shares;
  • Lynas Corporation (LYC), -$0.07 (12.84%) to $0.48 on volume of 17.4 million shares;
  • Rio Tinto Ltd (RIO), -$5.16 (8.95%) to $52.52 on volume of 9.2 million shares;
  • Mount Gibson Iron (MGX), -$0.06 (6.06%) to $0.93 on volume of 6.7 million shares; and
  • Panoramic Resources (PAN), -$0.14 (5.3%) to $2.50 on volume of 3 million shares.

 

Just missing out on the wooden spoon was Telecommunications (XTJ), which slid 13.7 points (1.19%) to 1142.2 points. The 3 stocks which make up the index traded a total of 85.25m units; The sole declining stock traded 72.25m units, and 2 index components rose, with rising volume amounting to 13m shares. The decliner within the index was

  • Telstra Corp Ltd (TLS), -$0.04 (1.19%) to $3.32 on volume of 72.2 million shares.

 

Third-to-last amongst the sector indices was Information Technology (XIJ), which slid 5.1 points (1.01%) to 499.8 points. The 2 stocks which make up the index traded a total of 3.4m units; The sole declining stock traded 2.67m units, and volume in the lone rising index component was 0.72m shares. The decliner within the index was

  • Computershare Ltd (CPU), -$0.11 (1.27%) to $8.54 on volume of 2.7 million shares.

 

Sector Indices
Code GICS Sector Close +/- % Volume
XHJ Healthcare 7934.1 107.1 1.37 24m
XSJ Consumer Staples 6495 47.8 0.74 56m
XXJ Financials ex Property Trusts 4201.8 29.7 0.71 119m
XPJ Property Trusts 741.8 4.6 0.62 442m
XUJ Utilities 4058.8 9.7 0.24 57m
XDJ Consumer Discretionary 1270.1 1.7 0.13 118m
XEJ Energy 14275.8 -7.2 -0.05 84m
XNJ Industrials 2947.1 -15.9 -0.54 237m
XIJ Information Technology 499.8 -5.1 -1.01 3m
XTJ Telecommunications 1142.2 -13.7 -1.19 85m
XMJ Materials 10085.5 -319.1 -3.07 343m

All Ordinaries Major Movers

All Ords Volume Leaders
Code Name Close +/- % Volume
GPT GPT Group 0.50 -0.02 -2.94 73m
TLS Telstra Corp Ltd 3.32 -0.04 -1.19 72.2m
GMG Goodman Group 0.40 0.02 3.95 63.6m
BLY Boart Longyear 0.25 -0.02 -5.77 59.6m
MOF Macquarie Office Trust 0.21 0.01 2.5 59.6m
All Ords Percentage Gainers
Code Name Close +/- % Volume
VIR Viridis Clean Energy Group 0.25 0.04 16.28 4.6m
ESG Eastern Star Gas 0.81 0.10 13.29 8.4m
MLE Macquarie Leisure Trust 1.44 0.16 12.55 1.8m
MAK Minemakers 0.63 0.06 10.53 983.9k
WTF Wotif.com Holdings 4.53 0.42 10.22 2.6m
All Ords Percentage Losers
Code Name Close +/- % Volume
RIOR RIO Tinto Ltd (Rights) 24.30 -5.44 -18.29 3.4m
LYC Lynas Corporation 0.48 -0.07 -12.84 17.4m
IIF ING Industrial Fund 0.26 -0.04 -12.07 9.3m
AXM Apex Minerals NL 0.18 -0.02 -10 9.4m
CNP Centro Properties Group 0.10 -0.01 -9.09 3m

USRant: I’m The Dandy Highwayman…

0

You mustn’t think that I am a fan of mild-mannered academic Mahmoud Ahmedinijad, dearest Reader. He is a professional parasite (like all of his political-class brethren, everywhere in the world) and, and like all parasites should be expunged from this earthly realm. (‘Wiped off the map’, if you are one of the dumbasses who think that MEMRI’s deliberate mistranslation was accurate).

As I was saying… I’m not a fan of any political leader, anywhere. They should all be slaughtered and fed to pigs. So let’s get that clear as point 1.

With point 1 in mind, though, the demonisation of Iran must be countered with all the force we non-groupthinkers can muster. The thrum of the undercurrent of anti-Iran propaganda is a prelude to yet another Two Minutes’ Hate – last time it was Iraq (or if you prefer the nomenclature of the Old Testament, Ur of the Chaldees, home of Avram). 

Once the Two Minutes’ Hate has been triggered, the cruise missiles are never far behind: and then ‘brave’, ‘hero’ arseholes fly over at 30000 feet, dropping million-dollar parcels of death onto children and villagers. ‘Hero’ sociopaths who would shoot their own people if ordered to by their political masters, are sent onto the ground to continue the slaughter at close quarters.

Speaking of which – and thinking of that SAS redmuff sociopath who got given a medal recently … how come the Strayan Army still gives out Imperial [British] medals? 

I thought Gough Whitlam put an end to stuff like that forelock-tugging; we no longer have Knights, OBEs, MBEs, and so on… and of course no more QCs at the Bar. But we still give the VC – each medal supposedly forged from part of the metal of the guns of Balaclava (another signal lesson in military futility, albeit from the days when civilian carnage was studiously avoided and generals weren’t safely out of harm’s way). 

I guess if they’d awarded the little SAS-ginger the Strayan Medal for Shooting Foreigners In Their Own Country, he would not have known how much of a hero he was for being a Good German, killing people whose only crime is to occupy a bit of land that is the focus of the governments Two Minutes Hate.

I am glad that the West is getting its arse kicked in the meat-grinder of Afghanistan; eventually they will give up an we will all be blessed with having a bunch of trained psychopaths becoming ever-more alienated and bitter as they find that their promised retirement benefits are whittled away. And these folks kill because they like it – they’re not conscripts.

 

Headline Indices

The Dow Jones Industrial Average dropped 107.46 points (1.25%) to 8504.67 points. The index high for the day was 8643.65, set in the opening minutes and tested a few times in the first hour; the low was 8499.45, set right at the close. Total volume traded in the 30 components of the index was 1.27bn shares. Decliners outpaced gainers by 13.5 to one, with 27 decliners to 2 advancers. Declining volume was greater than advancing volume by 1.12bn to 148.95m shares. The main decliners (in percentage terms) were –

  • Bank Of America (BAC) -0.6 (4.5%) to $12.73 on volume of 367.7m shares;
  • Citigroup (C) -0.12 (3.6%) to $3.25 on volume of 183.61m shares;
  • AIG (AIG) -0.05 (3.3%) to $1.48 on volume of 54.13m shares;
  • Disney Corp (DIS) -0.76 (3.1%) to $23.49 on volume of 13.29m shares; and
  • General Electric (GE) -0.37 (2.8%) to $12.78 on volume of 91.11m shares.

The S&P500 index (SPX) fell 11.75 points (1.27%) to 911.97 points. Total volume traded in the 500 components of the index was 4.04bn shares. Decliners outpaced gainers by 5.3 to one, with 399 decliners to 75 advancers. Declining volume was greater than advancing volume by 3.31bn to 670.96m shares. The main decliners (in percentage terms) were –

  • Harman Int’l Industries (HAR) -2.91 (12.5%) to $20.4 on volume of 2.83m shares;
  • American CapitalLtd. (ACAS) -0.39 (9.1%) to $3.89 on volume of 13.44m shares;
  • E*Trade Financial Corp. (ETFC) -0.16 (8.8%) to $1.65 on volume of 40.41m shares;
  • Zions Bancorp (ZION) -1.15 (7.7%) to $13.83 on volume of 5.31m shares; and
  • Best Buy Co.Inc. (BBY) -2.82 (7.3%) to $35.84 on volume of 27.37m shares.

The Nasdaq Composite dropped 20.2 points (1.11%) to 1796.18 points. while the Nasdaq100 dipped 13.71 points (0.94%) to 1443.25 points. Total volume traded in the 100 components of the NDX was 802.22m shares. Decliners outpaced gainers by 5.1 to one, with 82 decliners to 16 advancers. Declining volume was greater than advancing volume by 608.27m to 193.95m shares. The main decliners (in percentage terms) were –

  • Level 3 Communications (LVLT) -0.08 (5.4%) to $1.41 on volume of 12m shares;
  • Genzyme (GENZ) -2.87 (5.2%) to $52.75 on volume of 16.89m shares;
  • Sears Holdings (SHLD) -3.02 (4.5%) to $63.8 on volume of 1.27m shares;
  • Joy Global (JOYG) -1.69 (4.4%) to $36.36 on volume of 5.97m shares; and
  • Marvell Technology Group (MRVL) -0.52 (4.2%) to $11.95 on volume of 12.99m shares.

Volatility

The CBOE Volatility Index added +1.87 points (6.07%) to 32.68 points. and the CBOE Nasdaq100 Volatility Index dropped 0.22 points (0.68%) to 32.32 points..

Breadth and Internals

A total of 3834 issues traded today on the NYSE; 1063 stocks posted gains for the day, and there were 2654 losers. 10 stocks made new 1-year highs on the NYSE, while 47 shares plumbed new 52-week depths.

On the Nasdaq 2816 tickers traded today; total Nasdaq volume was 2.19bn shares. A total of 779 stocks posted gains for the day, with aggregate volume of 0.48bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 1898 losers, and total declining volume was 1.7bn shares. 16 Nasdaq-listed stocks hit new 52-week highs, while 21 shares dipped to new 1-year lows.

Major Market Statistics
Index Close Gain(Loss) %
Dow Jones Industrial Average 8504.67 -107.46 -1.25%
S&P500 Index 911.97 -11.75 -1.27%
Nasdaq Composite 1796.18 -20.20 -1.11%
Nasdaq100 1443.25 -13.71 -0.94%
CBOE Volatility Index 32.68 +1.87 6.07%
CBOE Nasdaq100 Volatility Index 32.32 -0.22 -0.68%

Dow Darlings

  • Pfizer (PFE) +0.03 (0.2%) to $14.16 on volume of 45.5m units
  • Microsoft (MSFT) +0.03 (0.1%) to $23.45 on volume of 103.5m units

Dow Duds:

  • Bank Of America (BAC) -0.6 (4.5%) to $12.73 on volume of 368.4m units
  • Disney Corp (DIS) -0.76 (3.1%) to $23.49 on volume of 13.3m units
  • General Electric (GE) -0.37 (2.8%) to $12.78 on volume of 91.1m units
  • Alcoa (AA) -0.31 (2.8%) to $10.9 on volume of 44.9m units
  • Home Depot (HD) -0.65 (2.7%) to $23.2 on volume of 16.9m unit
    s

Most Traded Dow stocks:

  • Bank Of America (BAC) -0.6 (4.5%) to $12.73 on volume of 368.4m units
  • Microsoft (MSFT) +0.03 (0.1%) to $23.45 on volume of 103.5m units
  • General Electric (GE) -0.37 (2.8%) to $12.78 on volume of 91.1m units
  • JPMorganChase (JPM) -0.5 (1.5%) to $33.5 on volume of 56.2m units
  • Intel (INTC) -0.12 (0.8%) to $15.86 on volume of 52.8m units
Precious Metals

The Gold Bugs index (XAU) gained 0.66 points (0.47%) to 140.56 points. Total volume traded in the 16 components of the index was 94.64m shares. Advancers outpaced decliners by 1.7 to one, with 10 advancers to 6 decliners. Advancing volume exceeded declining volume by 55.66m to 38.97m shares. The biggest gainers (percentage-wise) were –

  • Gold Fields Ltd (GFI) +0.31 (2.8%) to $11.58 on volume of 4.41m shares;
  • Royal Gold (RGLD) +1.09 (2.6%) to $42.9 on volume of 0.58m shares;
  • GoldCorp (GG) +0.8 (2.4%) to $34.51 on volume of 8.41m shares;
  • AngloGold Ashanti (AU) +0.8 (2.2%) to $36.59 on volume of 1.99m shares; and
  • Yamana Gold (AUY) +0.19 (2.1%) to $9.19 on volume of 17.12m shares.
Energy Complex

The Oil Services index (OSX) lost 1.89 points (1.05%) to 178.9 points. Total volume traded in the 15 components of the index was 89.68m shares. None of the 15 index components rose today: all 15 stocks within the index fell, with downside volume of 89.68m shares. The main decliners (in percentage terms) were –

  • Global Industries (GLBL) -0.34 (5%) to $6.45 on volume of 1.28m shares;
  • Weatherford International (WFT) -1 (4.5%) to $21.06 on volume of 13.23m shares;
  • Oceaneering International (OII) -2.12 (4.1%) to $49.06 on volume of 0.52m shares;
  • Nabors Industries (NBR) -0.67 (3.9%) to $16.71 on volume of 7.39m shares; and
  • Smith International (SII) -1.12 (3.8%) to $28.51 on volume of 3.81m shares.
Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 1.1%. The fallout occurred as follows:

  • General Electric (GE) -0.37 (2.81%) to $12.78 on volume of 91.11m units.
  • Citigroup (C) -0.12 (3.56%) to $3.25 on volume of 183.62m units.
  • Wal-Mart (WMT) -0.21 (0.43%) to $48.25 on volume of 20.65m units.
  • IBM (IBM) -0.30 (0.28%) to $107.32 on volume of 7.22m units.
  • Intel (INTC) -0.12 (0.75%) to $15.86 on volume of 52.8m units.
  • Cisco Systems (CSCO) -0.28 (1.45%) to $19.08 on volume of 44.15m units.
  • Google (GOOG) -0.77 (0.18%) to $416.00 on volume of 3m units.
  • Fannie Mae (FNM) +0.06 (9.84%) to $0.67 on volume of 28.39m units.
  • Freddie Mac (FRE) +0.06 (9.09%) to $0.72 on volume of 11.58m units.
Other Indices of Interest…

The Banks index (BKX) lost 0.91 points (2.42%) to 36.73 points. Total volume traded in the 24 components of the index was 908.38m shares. Decliners outpaced gainers by 20 to one, with 20 decliners to 1 advancers. Declining volume was greater than advancing volume by 887.93m to 20.45m shares. The main decliners (in percentage terms) were –

  • Zions Bancorp (ZION) -1.15 (7.7%) to $13.83 on volume of 5.31m shares;
  • New M&I Corporation (MI) -0.32 (5.3%) to $5.67 on volume of 13.45m shares;
  • Fifth Third Bancorp (FITB) -0.39 (5.2%) to $7.18 on volume of 34.14m shares;
  • Huntington Bancshares (HBAN) -0.22 (4.9%) to $4.3 on volume of 42.75m shares; and
  • Bank Of America (BAC) -0.6 (4.5%) to $12.73 on volume of 367.7m shares.

OzRant: Regarde-Nous…

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The propaganda matrix is in full voice since the election of mild-mannered academic Mahmoud Ahmedinijad to another term as almost-powerless president of Iran (the theocracy wields all actual political power in Iran).

The CIA’s dirty-tricks drawer is still useful in the vat of viscous slop that makes up the mainswamp media – where (according to the latest Ice Age movie) dinosaurs post-date mammals… and where Netan-Yahoo’s speech to a bunch of zionist tax-parasites was ‘statesman-like’ simply because it didn’t advocate out and out genocide of the people from whom the Ashke-Nazi stole Palestine.

So our vidscreens are full of Yank-produced glop pretending that there is a question mark over the Iranian election (oh the irony – the US running gloop about dodgy elections is like the New York Times lecturing bloggers about reliability). How double-plus-ungood those Eurasians are – I double-plus unbellyfeel all mujaheddin (or are they the good guys again?… I forget).

The new Rant/Mentat HQ – at the Antarctic end of Collins-Strasse – is not bad, although this new keyboard is giving me the shits.

Oh, and in case you were wondering… yes, I am rather pleased with myself for having thrown down short late last week. The Nikkei leg was underwater when last we met – it’s almost 300 points to the good now.

Major Market Indices

The broad market – the All Ordinaries (XAO) – dipped reasonably hard, registering a loss of 72.5 points (1.8%), finishing at 3957.9 points. The index hit an intraday high of 4030.4 at 10:00 am, while the low for the day was 3950.3 – set at 1:57 pm Sydney time.

Total volume traded on the ASX was 2.17bn units, 1.7% above its 10-day average of 2.14bn shares.The ASX’s daily listing of all stocks included 1385 different 3-letter FPO’s which traded (i.e., had non-zero trade volume). Of these, 307 issues rose, with volume in rising issues totalling 309.4m units; there were 767 declining stocks, which traded aggregate declining volume of 1.58bn shares.

Of the 498 All Ordinaries components, 90 rose while 331 fell. Volume was tilted in favour of the losers by a margin of 6.6:1, with 175.59m shares traded in gainers while 1.15bn shares traded in the day’s losers.

The Index that forms the cash basis for the SPI Futures – the S&P/ASX 200 (XJO) – registered a loss of 63.6 points (1.58%), closing out the session at 3968.1 points.

GT Intraday Chart

Name Close +/-(%)
All Ordinaries 3957.90 -72.50 (1.8%)
ASX 20 2398.40 -32.70 (1.3%)
ASX 50 3980.70 -63.90 (1.6%)
ASX 100 3245.00 -52.00 (1.6%)
ASX 200 3968.10 -63.60 (1.6%)
ASX 300 3963.10 -64.50 (1.6%)
ASX Mid-Cap 50 3559.90 -54.50 (1.5%)
ASX Small Ordinaries 2113.60 -74.10 (3.4%)

The "heavy hitters" of the Australian market – the ASX 20 Leaders (XTL) – registered a loss of 32.7 points (1.35%), closing out the session at 2398.4 points.

Among the 20 big guns, 3 index components finished to the upside, and 18 lost ground. The stocks which make up the index traded a total of 172.48m units; 3 index components rose, with rising volume amounting to 55.34m shares, while the 18 decliners had volume traded totalling 117.14m units. The major percentage gainers within the index were

  • Telstra Corp Ltd (TLS), +$0.03 (0.9%) to $3.38 on volume of 50.2 million shares;
  • Woolworths Ltd (WOW), +$0.04 (0.15%) to $26.16 on volume of 2.6 million shares; and
  • Newcrest Mining Ltd (NCM), +$0.04 (0.13%) to $31.60 on volume of 2.5 million shares.

 

On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:

  • Stockland (SGP), -$0.16 (4.73%) to $3.22 on volume of 15.1 million shares;
  • Suncorp-Metway Ltd (SUN), -$0.31 (4.67%) to $6.33 on volume of 3.3 million shares;
  • Macquarie Group Ltd (MQG), -$1.47 (3.76%) to $37.60 on volume of 2 million shares;
  • Westfield Group (WDC), -$0.4 (3.41%) to $11.33 on volume of 8.3 million shares; and
  • Woodside Petroleum Ltd (WPL), -$1.35 (3.2%) to $40.85 on volume of 2.7 million shares.

 

The ASX Small Ordinaries (XSO) The small end of the market had significantly worse day than its large-cap counterpart. The Small Ords copped a bit of a hiding, sliding 74.1 points (3.39%), closing out the session at 2113.6 points.

Among the stocks that make up the Small Caps index, 31 index components finished to the upside, and of the rest, 167 closed lower for the session.

The 214 stocks which make up the index traded a total of 527.93m units: volume in the 31 gainers totalling 27.29m shares, with trade totalling 474.45m units in the index’s 167 declining components. The major percentage gainers within the index were

  • SMS Management & Technology Ltd (SMX), +$0.26 (8.64%) to $3.27 on volume of 813.4 thousand shares;
  • Wattyl Ltd (WYL), +$0.04 (7.45%) to $0.51 on volume of 392.3 thousand shares;
  • Singapore Telecommunications. (SGT), +$0.10 (4.05%) to $2.57 on volume of 3.3 million shares;
  • Babcock & Brown Power (BBP), +$0.00 (3.09%) to $0.10 on volume of 4.1 million shares; and
  • Aspen Group (APZ), +$0.01 (3.03%) to $0.34 on volume of 633.3 thousand shares.

 

In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):

  • Aditya Birla Minerals (ABY), -$0.12 (15.13%) to $0.65 on volume of 2.9 million shares;
  • Energy World Corporation Ltd (EWC), -$0.09 (13.18%) to $0.56 on volume of 6.7 million shares;
  • Nexus Energy (NXS), -$0.06 (12.22%) to $0.40 on volume of 16.1 million shares;
  • Macarthur Coal Ltd (MCC), -$0.93 (12.16%) to $6.72 on volume of 2.1 million shares; and
  • Minara Resources Ltd (MRE), -$0.1 (10.87%) to $0.82 on volume of 4.1 million shares.

 

 

Index Changes
Code Name Close +/- % Volume
XAO All Ordinaries 3957.9 -72.5 -1.8 1448m
XFL ASX 50 3980.7 -63.9 -1.58 497.7m
XJO ASX 200 3968.1 -63.6 -1.58 1243.5m
XKO ASX 300 3963.1 -64.5 -1.6 1400.9m
XMD ASX Mid-Cap 50 3559.9 -54.5 -1.51 408.4m
XSO ASX Small Ordinaries 2113.6 -74.1 -3.39 494.7m
XTL ASX 20 2398.4 -32.7 -1.35 157.4m
XTO ASX 100 3245 -52 -1.58 906.1m
Market Breadth
  ASX20 XTO XJO XAO XSO Market
Advances 3 20 34 90 31 307
Declines 18 81 165 331 167 767
Advancing Volume 55.3m 146.9m 161m 175.6m 27.3m 309.4m
Declining Volume 117.1m 751.9m 1.03b 1.15b 474.4m 1.58bn
GICS Industry Indices

Among the 11 industry indices, 2 registered an advance for the session, the remaining 9 lost ground.

The best performing index was Telecommunications (XTJ), which added 16.4 points (1.42%) to 1168.4 points. This index only contains 3 stocks; they traded a total of 55.43m units today. 2 index components rose, with rising volume amounting to 53.49m shares, while the sole declining stock traded 1.94m units. The major percentage gainers within the index were

  • Singapore Telecommunications Ltd (SGT), +$0.10 (4.05%) to $2.57 on volume of 3.3 million shares; and
  • Telstra Corp Ltd (TLS), +$0.03 (0.9%) to $3.38 on volume of 50.2 million shares.

 

Second in the index leadership stakes was Information Technology (XIJ), which gained 4.7 points (0.93%) to 512.1 points. This index only contains 2 stocks; they traded a total of 2.
06m units today. The lone rising index component had volume amounting to 1.34m shares, none of the stocks in the index lost ground. The major percentage gainers within the index were

  • Computershare Ltd (CPU), +$0.08 (0.92%) to $8.78 on volume of 1.3 million shares.

 

The worst-performed index for the session was Energy (XEJ), which dipped 489.6 points (3.27%) to 14461.2 points. The 22 stocks which make up the index traded a total of 84.23m units; The 20 decliners had volume traded totalling 83.06m units, and 2 index components rose, with rising volume amounting to 1.17m shares, The major percentage decliners within the index were

  • Nexus Energy (NXS), -$0.06 (12.22%) to $0.40 on volume of 16.1 million shares;
  • Centennial Coal Co Ltd (CEY), -$0.26 (8.78%) to $2.70 on volume of 4.5 million shares;
  • Aquila Resources (AQA), -$0.45 (7.85%) to $5.28 on volume of 504 thousand shares;
  • Felix Resources (FLX), -$1.08 (7.73%) to $12.89 on volume of 488.8 thousand shares; and
  • Paladin Energy Ltd (PDN), -$0.35 (6.73%) to $4.85 on volume of 4.6 million shares.

 

Just missing out on the wooden spoon was Property Trusts (XPJ), which slid 21.8 points (2.79%) to 759.8 points. The 21 stocks which make up the index traded a total of 416.66m units; The 16 decliners had volume traded totalling 311.07m units, and 4 index components rose, with rising volume amounting to 46.08m shares, The major percentage decliners within the index were

  • Goodman Group (GMG), -$0.08 (15.31%) to $0.42 on volume of 104.1 million shares;
  • Centro Properties Group (CNP), -$0.01 (8.7%) to $0.11 on volume of 5.6 million shares;
  • Centro Retail (CER), -$0.01 (7.14%) to $0.13 on volume of 16.5 million shares;
  • Apn/Uka European Retail Property Group (AEZ), -$0 (6.45%) to $0.06 on volume of 1.1 million shares; and
  • Tishman Speyer Office Fund (TSO), -$0.02 (6.35%) to $0.30 on volume of 2.6 million shares.

 

Third-to-last amongst the sector indices was Materials (XMJ), which slid 252.1 points (2.33%) to 10578.1 points. The 46 stocks which make up the index traded a total of 312.79m units; The 43 decliners had volume traded totalling 306.28m units, and 3 index components rose, with rising volume amounting to 6.51m shares, The major percentage decliners within the index were

  • Macarthur Coal Ltd (MCC), -$0.93 (12.16%) to $6.72 on volume of 2.1 million shares;
  • Nufarm (NUF), -$1.47 (12.15%) to $10.63 on volume of 7.8 million shares;
  • Minara Resources Ltd (MRE), -$0.1 (10.87%) to $0.82 on volume of 4.1 million shares;
  • Murchison Metals Ltd (MMX), -$0.22 (10.8%) to $1.78 on volume of 2.2 million shares; and
  • OZ Minerals (OZL), -$0.09 (9%) to $0.91 on volume of 34.7 million shares.

 

Sector Indices

Code GICS Sector Close +/- % Volume
XTJ Telecommunications 1168.4 16.4 1.42 55m
XIJ Information Technology 512.1 4.7 0.93 2m
XHJ Healthcare 7815 -31 -0.4 14m
XSJ Consumer Staples 6585.5 -40 -0.6 34m
XUJ Utilities 4091.8 -37.4 -0.91 53m
XDJ Consumer Discretionary 1293.9 -13.3 -1.02 62m
XNJ Industrials 3046.3 -36.5 -1.18 183m
XXJ Financials ex Property Trusts 4229.4 -58.3 -1.36 74m
XMJ Materials 10578.1 -252.1 -2.33 313m
XPJ Property Trusts 759.8 -21.8 -2.79 417m
XEJ Energy 14461.2 -489.6 -3.27 84m

All Ordinaries Major Movers

All Ords Volume Leaders
Code Name Close +/- % Volume
GMG Goodman Group 0.42 -0.08 -15.31 104.1m
BLY Boart Longyear 0.33 -0.04 -9.72 75.8m
MOF Macquarie Office Trust 0.23 -0.02 -6.25 64.5m
GPT GPT Group 0.52 0.00 0 59.5m
TLS Telstra Corp Ltd 3.38 0.03 0.9 50.2m
All Ords Percentage Gainers
< td>MCG
Code Name Close +/- % Volume
PBB Pacifica Group 0.22 0.06 34.37 142k
Macquarie Communications Infra 2.93 0.61 26.29 14m
KIL KFM Diversified Infrastructure And Logistics Fund 0.61 0.05 8.93 98.3k
SMX SMS Management & Technology Ltd 3.27 0.26 8.64 813.4k
MOC Mortgage Choice Ltd 1.04 0.08 7.77 331.4k
All Ords Percentage Losers
Code Name Close +/- % Volume
GMG Goodman Group 0.42 -0.08 -15.31 104.1m
ABY Aditya Birla Minerals 0.65 -0.12 -15.13 2.9m
EWC Energy World Corporation Ltd 0.56 -0.09 -13.18 6.7m
NXS Nexus Energy 0.40 -0.06 -12.22 16.1m
MCC Macarthur Coal Ltd 6.72 -0.93 -12.16 2.1m

USRant: She’s Drifting With Nothing To Lose….

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The entire planet is awash in bullshit at the moment – from the silly little ‘Salaam aleikum’ charade of The Great Brown Hope (the important phrases of which were actually censored out by AP in their reportage), through to the continued anal rape of taxpayers in order to pay for bankers’ palaces.

Still, from time to time you see clever people do clever things. Elizabeth Warren, for instance.

Warren is chair of the congressional oversight panel that oversees the Taxpayer Anal Rape Program (TARP). Ordinarily, anybody in such a position deserves scorn and calumny – suckling at the taxpayers teat for the sole purpose of helping in the propaganda effort to polish the government’s biggest post-Depression turd.

But Warren is slightly different: I first became aware of her when I saw a talk she gave in which she made it clear that the US was failing in its promises to the middle class. She did this quietly, concisely, and using unimpeachable sources. Her conclusions were dire – at least as dire as those I have already harped about.

Likewise her recent quiet vivisection of Geithner’s "stress tests". Anyone with half a brain knew that the ‘adverse scenario’ should actually have been the ‘base case’ – employment at 10%, GDP growth zero, and so on.

Recently, Warren suggested that the stress tests be re-done, with the following additional suggestions:

  • that the methodology used be completely transparent, in order for third parties to run their own scenarios;
  • that the tests be re-examined with a more adverse scenario and/or a longer timeframe.

As she noted, the US has already ‘blown past’ the unemployment assumption of Geithner’s "worst case" scenario – which, according to Geithner’s rose-coloured forecasts, had only a 10% chance of occurring.
 

Geithner is a hack – as is Bernanke (whose Fed is about to receive a summons for failing to provide documents requested by another oversight committee). For some reason unbeknownst to me, Warren – who really seems to be almost unimpeachable – has decided to go int o the maw of the parasite-political complex, and try to do good from within. I give her zero percent chance of succeeding, but it is highly interesting that she’s being as frank as that interview above shows.

Headline Indices

 

The Dow Jones Industrial Average index (DJI) dropped -1.43 points (0.02%) to 8763.06 points. The index high for the day was 8803.26, and was set in the first half-hour of trade. The low was 8725.12, set just after 11 a.m. NY time.

Total volume traded in the 30 components of the index was 994.78m shares. Decliners outpaced gainers by 1.3 to one, with 15 decliners to 12 advancers. Declining volume was greater than advancing volume by 486.26m to 298.88m shares. The main decliners (in percentage terms) were –

  • United Technologies (UTX) -0.97 (1.7%) to $55.52 on volume of 5.87m shares;
  • Hewlett-Packard (HPQ) -0.57 (1.5%) to $36.84 on volume of 15.42m shares;
  • Procter & Gamble (PG) -0.73 (1.4%) to $52.41 on volume of 11.55m shares;
  • Pfizer (PFE) -0.18 (1.3%) to $14.13 on volume of 42.45m shares; and
  • Boeing (BA) -0.48 (0.9%) to $52.35 on volume of 7.71m shares.

The S&P500 Index advanced +3.29 points (0.35%) to 942.43 points. Total volume traded in the 500 components of the index was 3.59bn shares. Advancers outpaced decliners by 1.6 to one, with 293 advancers to 180 decliners. Advancing volume exceeded declining volume by 1.94bn to 1.38bn shares. The biggest gainers (percentage-wise) were –

  • LSI Corporation (LSI) +0.45 (10.7%) to $4.64 on volume of 16.57m shares;
  • AK Steel Holding Corp. (AKS) +1.7 (9.8%) to $19.1 on volume of 19.51m shares;
  • United States Steel Corp. (X) +2.76 (7.9%) to $37.82 on volume of 18.85m shares;
  • Pall Corp. (PLL) +2.1 (7.8%) to $28.95 on volume of 2.64m shares; and
  • MEMC Electronic Materials (WFR) +1.38 (7.1%) to $20.89 on volume of 6.42m shares.

The Nasdaq Composite rose +17.73 points (0.96%) to 1860.13 points. while the Nasdaq100 gained +13.06 points (0.88%) to 1501.55 points. Total volume traded in the 100 components of the index was 779.09m shares. Advancers outpaced decliners by 3.9 to one, with 78 advancers to 20 decliners. Advancing volume exceeded declining volume by 675.44m to 103.65m shares. The biggest gainers (percentage-wise) were –

  • Marvell Technology Group (MRVL) +1.63 (14.5%) to $12.84 on volume of 48m shares;
  • Microchip Technology (MCHP) +1.3 (6%) to $23.07 on volume of 6.74m shares;
  • NII Holdings (NIHD) +1.11 (5.7%) to $20.58 on volume of 3.27m shares;
  • Broadcom (BRCM) +1.43 (5.5%) to $27.25 on volume of 15.7m shares; and
  • SanDisk (SNDK) +0.86 (5.5%) to $16.44 on volume of 9.74m shares.

Volatility

The CBOE Volatility Index dipped 1.5 points (5.04%) to 28.27 points. and the CBOE Nasdaq100 Volatility Index slid 1.49 points (4.78%) to 29.69 points..

Breadth and Internals

A total of 3808 issues traded today on the NYSE;2281 stocks posted gains for the day, and there were 1394 losers. 28 stocks made new 1-year highs on the NYSE, while 48 shares plumbed new 52-week depths.

On the Nasdaq 2855 tickers traded today; total Nasdaq volume was 2.12bn shares. A total of 1625 stocks posted gains for the day, with aggregate volume of 1.65bn shares changing hands in the day’s winners. The red zone of the Nasdaq exchange comprised 1069 losers, and total declining volume was 0.45bn shares. 45 Nasdaq-listed stocks hit new 52-week highs, while 15 shares dipped to new 1-year lows.

 

Major Market Statistics
Index Close Gain(Loss) %
Dow Jones Industrial Average 8763.06 -1.43 -0.02%
S&P500 Index 942.43 +3.29 0.35%
Nasdaq Composite 1860.13 +17.73 0.96%
Nasdaq100 1501.55 +13.06 0.88%
CBOE Volatility Index 28.27 -1.50 -5.04%
CBOE Nasdaq100 Volatility Index 29.69 -1.49 -4.78%

Dow Darlings

  • American Express (AXP) +1.28 (5%) to $26.93 on volume of 26.1m units
  • Alcoa (AA) +0.38 (3.5%) to $11.15 on volume of 35.5m units
  • Intel (INTC) +0.5 (3.1%) to $16.42 on volume of 63.4m units
  • Du Pont (DD) +0.72 (2.7%) to $26.93 on volume of 8.2m units
  • Chevron (CVX) +0.61 (0.9%) to $70.19 on volume of 10m units

 

Dow Duds:

  • United Technologies (UTX) -0.97 (1.7%) to $55.52 on volume of 5.9m units
  • Hewlett-Packard (HPQ) -0.57 (1.5%) to $36.84 on volume of 15.4m units
  • Procter & Gamble (PG) -0.73 (1.4%) to $52.41 on volume of 11.6m units
  • Pfizer (PFE) -0.18 (1.3%) to $14.13 on volume of 42.5m units
  • Boeing (BA) -0.48 (0.9%) to $52.35 on volume of 7.7m units

 

Most Traded Dow stocks:

  • Bank Of America (BAC) unchanged at $12.06 on volume of 201.2m units
  • Intel (INTC) +0.5 (3.1%) to $16.42 on volume of 63.4m units
  • JPMorganChase (JPM) -0.13 (0.4%) to $35.26 on volume of 58.9m units
  • General Electric (GE) +0.01 (0.1%) to $13.57 on volume of 54.2m units
  • Microsoft (MSFT) +0.03 (0.1%) to $22.08 on volume of 47.7m units
Precious Metals

 

The Gold Bugs index (XAU) gained 0.05 points (0.03%) to 151.13 points. Total volume traded in the 16 components of the index was 75.58m shares. Decliners outpaced gainers by 1.3 to one, with 9 decliners to 7 advancers. Declining volume was greater than advancing volume by 41.59m to 33.99m shares. The biggest gainers (percentage-wise) were –

  • Freeport McMoran (FCX) +2.48 (4.4%) to $58.96 on volume of 17.04m shares;
  • Silver Stand Resources (SSRI) +0.46 (2.1%) to $22.59 on volume of 1.23m shares;
  • Gold Fields Ltd (GFI) +0.13 (1.1%) to $12.16 on volume of 4.69m shares;
  • Silver Wheaton (SLW) +0.11 (1.1%) to $10.29 on volume of 4.45m shares; and
  • Pan-American Silver (PAAS) +0.21 (1%) to $21.71 on volume of 0.83m shares.

 

Bellwethers

The nine-stock group that makes up the Rant bellwethers advanced on average by 0.1%. The fallout occurred as follows:

  • General Electric (GE) +0.01 (0.07%) to $13.57 on volume of 54.22m units.
  • Citigroup (C) -0.01 (0.29%) to $3.41 on volume of 208.45m units.
  • Wal-Mart (WMT) -0.2 (0.39%) to $50.61 on volume of 14.37m units.
  • IBM (IBM) +0.65 (0.6%) to $108.14 on volume of 8.57m units.
  • Intel (INTC) +0.50 (3.14%) to $16.42 on volume of 63.43m units.
  • Cisco Systems (CSCO) +0.21 (1.06%) to $20.08 on volume of 49.55m units.
  • Google (GOOG) -3.15 (0.72%) to $435.62 on volume of 3.24m units.
  • Fannie Mae (FNM) unchanged at $0.69 on volume of 10.28m units.
  • Freddie Mac (FRE) -0.02 (2.74%) to $0.71 on volume of 5.46m units.
Other Indices of Interest…

The Banks index (BKX) added 0.17 points (0.45%) to 37.72 points. Total volume traded in the 24 components of the index was 722.9m shares. Advancers outpaced decliners by 1.1 to one, with 10 advancers to 9 decliners; however declining volume was greater than advancing volume by 374.51m to 143.4m shares. The biggest gainers (percentage-wise) were –

  • Keycorp (KEY) +0.18 (3.3%) to $5.64 on volume of 22.04m shares;
  • Capital One Financial (COF) +0.61 (2.6%) to $24.05 on volume of 10.12m shares;
  • BB&T Corp (BBT) +0.52 (2.4%) to $22.45 on volume of 10.15m shares;
  • Zions Bancorp (ZION) +0.33 (2.3%) to $14.65 on volume of 4.16m shares; and
  • PNC Financial (PNC) +0.8 (1.8%) to $44.18 on volume of 5.69m shares.

The Semiconductor index (SOX) was unchanged at 271.31 points. Total volume traded in the 18 components of the index was 318.75m shares. Not a single stock declined withinin the index: 17 of the 18 index components rose, with total upside volume of 318.75mshares. The index’s rather boring situation arose as a result of a mixed bag of results, the most notable amongst these (in percentage terms) being –

  • Marvell Technology (MRVL) +1.63 (14.5%) to $12.84 on volume of 48m shares;
  • Texas Instruments (TXN) +1.25 (6.3%) to $21.02 on volume of 45.75m shares;
  • Broadcom (BRCM) +1.43 (5.5%) to $27.25 on volume of 15.7m shares;
  • Sandisk (SNDK) +0.86 (5.5%) to $16.44 on volume of 9.74m shares; and
  • Micron Technology (MU) +0.28 (5.3%) to $5.58 on volume of 18.39m shares.

The ChildKiller ("Defence") index (DFX) advanced 5.05 points (1.93%) to 266.21 points. Total volume traded in the 17 components of the index was 88.08m shares. Decliners outpaced gainers by 2.2 to one, with 11 decliners to 5 advancers; however advancing volume exceeded declining volume by 57.74m shares to 30.34m. The biggest gainers (percentage-wise) were –

  • Gencorp (GY) +0.06 (2.8%) to $2.24 on volume of 0.42m shares;
  • FLIRr Systems (FLIR) +0.41 (1.7%) to $24.42 on volume of 2.17m shares;
  • Embraer Empresa (ERJ) +0.27 (1.5%) to $17.79 on volume of 0.59m shares;
  • Alliant Tech (ATK) +0.48 (0.5%) to $89.17 on volume of 0.37m shares; and
  • General Electric (GE) +0.01 (0.1%) to $13.57 on volume of 54.19m shares.
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