NEW YORK (Reuters) - The money-losing finance company GMAC said on Thursday it has filed to become a bank holding company, joining the growing list of lenders making such a move in a bid to secure U.S. Treasury funds.
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The major bull market range of 1982-2000 is nearing the 50/50 point in price and time. Price is at a 50% retrace in one-half of the time of the bull market. If the market bottoms here between now and January, we can all sit back and say “that was obvious”. Of course, we all know that while it is going on, nothing is obvious. This is why my motto is “finding the cycles is e...
As mentioned on previous post, the Swiss National Bank surprised with a really aggressive 100 basis point cut of the Libor rate. Sending Swiss Franc down against major rivals, particularly against American Dollar, almost at 2 years low, and Euro, where we saw an historical minimum a few weeks ago. the underlying intention of this cut, is clearly pointing to fight recession, that continues sprea...
Click for a larger imageNotice the following on the weekly chart:-- Prices are at levels not seen since the beginning of 2007-- All the SMAs are moving lower-- The shorter SMAs are below the longer SMAs-- Prices are below all the SMAsBUT-- The RSI is oversold, and-- The MACD is oversoldClick for a larger imageNotice the following on the daily chart:-- Prices have been dropping for four and a ha...
GMAC, the troubled financing company controlled by Cerberus Capital Management, said Thursday that it applied to become a bank holding company and would seek a cash infusion under the government’s capital purchase program. The move was expected: The company, whose majority owner was once General Motors, confirmed in late October that it was in talks with [...]
Among the companies whose shares are expected to see active trade in Thursday’s session are a number of retailers – including Gymboree, Hot Topic, Limited, Men’s Wearhouse, PetSmart and Stage -- as well as Amgen, Citi, GE, GM, Humana, Intuit, PepsiCo, Pfizer and Takeda.
TPG is at risk of losing a substantial amount of money it coughed up to invest in a Chinese leasing venture after a business dispute in which local police were called in to remove the private equity firm’s representatives, The Financial Times reported, citing people familiar with the matter. In deal sewn up in February, the [...]
Although currencies ended up adopting their usual path of following the swings in risk appetite, it's worth explaining Wednesday's earlier spikes in EUR/USD and GBP/USD. The moves were a result of broad dollar selling (also seen in a $25 rally jump in gold) on reports that Iran was pushing ahead with its nuclear program. The International Atomic Energy Agency stated an increasing build up of en...
Air France-KLM, Europe’s largest flag carrier, on Thursday reports a 96% drop in second-quarter profit as fuel costs surge and the value of hedges to protect against fuel and currency moves drops.
Despite yesterday’s high near to 1.2810, the pair remains bearish in bigger charts, and from a technical perspective, forming a continuation triangle: final objective for this figure, will be close to 1.1800. Yet turning to smaller charts, for today, only above 1.2546 we could see some bullish movements with resistances at 1.2565 and then 1.2610. More quickly will be the fall: under 1.250...