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Financials - Mar 08,2010
Sunday, March 07, 2010
by PitGuru.com Authors of PitGuru.com
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The Financials Pit Review For the week of March 8th, 2010 By PitGuru Frank LaMantia Is Cablevision annoying anyone else? First they mess with the Food network - and now ABC. However, they did give free rentals last night for customers missing the Oscars. In all seriousness, it is not really their fault. Many of these companies want millions and millions of dollars, which seems to be squeezing Cablevision. The Disney channel had also wanted more money - up to $40 million more. The more money Cablevision makes the more of a cut these companies want.1 Today, Europe announced it may be necessary to have an emergency fund for European countries. Basically, this would be a crisis fund for 16 nations because Greece's situation has caused an unsettling feeling throughout the region. Supposedly Spain, Ireland, Portugal, and Italy could be next and it may be hard for the economy to shrug off the next country in turmoil.2 Is the S&P's next stop 1150? Technical charts say that this upward trend could hit that level. Remember: in a recession, expansion and contraction can happen every few weeks. If it does hit this level, traders could take profits; especially if half-hearted news comes out from economic data. In premarket trading it is down a little over a point to 1136.3 A contraction in the market is probably inevitable, but timing it is not the easiest thing to do. The S&P has had a good run but could sell off over the next week. Many might be thinking the dollar could fall too. The dollar has remained strong through so-so economic data and has gained strength due to overseas issues. As more issues arise in the Euro zone the dollar could have more room. Though it is down today -0.143 to 80.289, the 84 level could be a possibility in the near future.4 1 http://finance.yahoo.com/news/ABC-returns-to-Cablevision-apf-1270265502.html?x=0&sec=topStories&pos=8&asset=&ccode= 2 http://finance.yahoo.com/news/EU-considers-its-own-crisis-apf-452249865.html?x=0&sec=topStories&pos=2&asset=&ccode= 3 http://www.cnbc.com/id/17689937/site/14081545/ 4 http://www.cnbc.com/id/15839178/site/14081545/ 
***chart courtesy Gecko Software’s Track n’ Trade Pro Past performance is not necessarily indicative of future results.
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About the author
Daniel Cronin - PitGuru.com's Energies & Metals Guru Daniel Cronin has spent years on the floor of the Nymex as part of one of the largest energy floor brokerages in the business. His extensive experience stems from not only his Pit background but also through intense studying and implementation of complex technical analysis and market trading techniques via the mentorship of the now retired Ralph Acampora. Mr. Cronin brings subscribers a rare combination of book smarts and real world trading experience in one of the most volatile market sectors in the futures industry. Matthew Pierce - PitGuru.com's Grains Guru Mr. Pierce is a unique acquisition for Futures Press Inc. in that he has an unmatched level of real hands-on experience within the industry in addition to his floor trading expertise and top notch education at the University of Illinois College of Agriculture. Matthew has literally cultivated the perfect professional career as a grain expert by working with the industry's most recognizable companies such as Cargill, LaSalle Group, Conagra, Walsh Trading Inc. and many more. In addition to trading on the floor of the Chicago Board of Trade, Mr. Pierce writes what many in the business believe to be the best kept secret amongst trading reports available in the industry. Jurgens H. Bauer - PitGuru.com's Softs Guru Jurgens owns and operates his own order execution firm on the ICE trading floor. He has been a member since 1987. His firm, Jurgens Bauer and Associates, specializes in executing option orders for a wide array of customers and a variety of industry participants, including individual speculators, funds and members of the trade. While Jurgens has been an active member of the trading community he has also spent time since 2000 working at raising awareness of environmental commodities, educating industry professionals on emissions trading, brokering transactions between private counter parties and developing SO2 and NOx contracts for the NYMEX. Frank LaMantia - PitGuru.com's Financial Guru Soon to be Dr. LaMantia, Frank is not only one of the most educated traders on Wall Street, but also maintains an industry resume of substance and depth. Frank has worked extensively on an Institutional preferred stock syndicate desk, as a government bond specialist, and as a financial advisor all the while achieving multiple licenses in the finance field. With an extensive and impressive client list (including Citibank, Bear Stearns, Lehman Brothers, AG Edwards, Mesirow, UBS, and numerous Hedge Funds), Mr. LaMantia brings his one-of-a-kind background to his current occupation of full time trader.
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