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The fund that Florida uses to pay unemployment benefits officially ran dry this week. A victim of underfunding, it became overwhelmed by the prolonged recession and the pressure to meet benefit needs brought on by the state's 10.7 percent jobless rate.
Originally posted by Vitchilo
Nice. China ``recovery`` is doing well? Doesn't matter that their electrical usage is down down down...the real proof of their non-recovery.
Few fixes for Florida's insolvent unemployment benefits fund
Frontline Profit Drops 91%, Beating Analyst Estimates (Update2)
Aug. 28 (Bloomberg) -- Frontline Ltd., the world’s largest operator of supertankers, said second-quarter profit tumbled 91 percent, better than analysts expected, as falling oil demand and production curbed earnings. The shares jumped 6.5 percent.
Net income fell to $27.8 million, or 36 cents a share, from $318.4 million, or $4.25, a year earlier, Hamilton, Bermuda- based Frontline said today in a statement. That beat the $6 million average estimate of 10 analysts surveyed by Bloomberg. Operating revenue fell to $281.5 million, from $547.5 million.
“The challenge will not get any easier as world oil inventories remain record high while the onslaught of new ships continues to flood the market,” Martin Sommerseth Jaer, an analyst at Arctic Securities in Oslo who recommends selling the shares, said before the report. “Frontline did really well to hold up its rates in the quarter.”
Originally posted by stander
What happens next depends on the tradititional comparison with daily charts that showed a 95% similar condition. I don't have them, but the trend may put the LR into the positive slope. The point where LR will intersect the PC line will move toward pm hours. But the beginning of the LR will be bellow PC and the buy/sell crude strategy will reverse itself: buy at 10:00 and sell at 3:00.
Originally posted by GreenBicMan
reply to post by RetinoidReceptor
Other than the short term profit you would have made, you may have the same opp. down the line..
Although P&F Charts are showing a triple top breakout to 9 and those are usually deadly accurate
Originally posted by RetinoidReceptor
Holy crap I just got back to my computer. The markets have made a 180 degree turn. And look at AIG, it was up 18% today and is now down like 2%. Jesus...or should I say Goldman.
NEW YORK (CNNMoney.com) -- The market keeps chugging along. But with speculative stocks like AIG and Vonage leading the way, you have to wonder if the rally won't soon go off the rails like Ozzy Osbourne's Crazy Train. Ay-Ay-Ay!
AIG (AIG, Fortune 500) is up more than 260% this month for no apparent good reason. Shares of Internet phone company Vonage (VG) had quadrupled this week before pulling back Friday. Apparently, Google's renewed interest in online voice chatting was viewed as a potential boost for Vonage -- even though the opposite is probably true since Google (GOOG, Fortune 500) tends to squash competition like grapes.
Some investing pros worry that day traders have taken control of the market thanks to light volume in the waning days of summer.