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Financials - Mar 15,2010
Sunday, March 14, 2010
by PitGuru.com Authors of PitGuru.com
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The Financials Pit Review For the week of March 15th, 2010 By PitGuru Frank LaMantia Today, Van Heusen announced that it would buy Tommy Hilfiger for 3 billion dollars in the next quarter. This will make it one of the largest clothing companies in the world.1 The market is down before the open on fears of bank reform and Greece's issues. What is the difference from last week to this week? The market could be in for a sell off as it hits the technical level of 1150.00. The banking bill could stabilize fear and give investors their confidence back. Could this gain back consumer trust as well? This depends as more power could be given to the Federal Reserve Board - which may be a negative to stockholders and/or investors. In the euro zone, members are in talks to stabilize their countries from default risk. Emergency funds could be the answer, but are Greece, Spain and Italy too deep in the hole to be helped? The ratings could be changed for the government debt in this area from AAA.2 Remember - waiting for bank reform by governments may take time to implement.3 Capital One announced that credit card defaults were down to 10.19% in Feb from 10.41% in Jan. This is good news but may not be enough to pick up the market. 1http://finance.yahoo.com/news/PhillipsVan-Heusen-to-buy-apf-3441425780.html?x=0&sec=topStories&pos=1&asset=&ccode= 2http://finance.yahoo.com/news/World-markets-down-as-apf-1271761551.html?x=0&sec=topStories&pos=4&asset=&ccode= 3http://www.cnbc.com/id/35870427 
***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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