Walt Disney(NYSE:DIS)

Walter Elias Disney (December 5, 1901 – December 15, 1966) from Chicago,Illinois,the United States is the pioneer of the famous 20th century entertainment production..WALT DISNEY.

Disney is particularly noted for being a film producer and a popular showman, as well as an innovator in animation and theme park design. He and his staff created some of the world's most famous fictional characters including Mickey Mouse, a character for which Disney himself was the original voice.
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide.The company's Parks and Resorts segment owns and operates the Walt Disney World Resort in Florida that includes theme parks; resort hotels; a retail, dining, and entertainment complex; a sports complex; conference centers; campgrounds; golf courses; and water parks.The company was founded in 1923 and is based in Burbank, California.
ETFs with DIS as a Top 10 Holding
WisdomTree Low P/E Fund=NA
iShares Dow Jones U.S. Consumer=4.31%
PowerShares Dynamic Leisure & E=4.94
iShares S&P Global Consumer Dis=3.15
ProShares Ultra Consumer Servic=1.26
Vanguard Consumer Discret ETF=4.20
SPDR Select Sector Fund - Consu=6.10
Mutual Funds with DIS as a Top 10 Holding
BROWN ADVISORY FLEXIBLE VALUE F
BERWYN CORNERSTONE FUND
BOYAR VALUE FUND INC THE
RIDGEWORTH FDS LARGE CAP CORE E
COMMERCE FUNDS VALUE FD INSTITU
CAUSEWAY GLOBAL VALUE FD INSTL
COLUMBIA MARSICO 21ST CENTURY F
Major Institutional Shareholders as at 31 December 2010:-( shares)( % )
FMR LLC=7,465,778=5.13%
STATE STREET CORPORATION=2,921,696=3.84
VANGUARD GROUP, INC. (THE)=6,284,226=3.49
BackRock Institutional Trust Company, N.A.=6,762,419=2.46
PRICE (T.ROWE) ASSOCIATES INC=3,146,094=2.27
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO=2,206,018=2 .22
MASSACHUSETTS FINANCIAL SERVICES CO - OTHER=40,851,328=2.15
SOUTHEASTERN ASSET MANAGEMENT, IN=37,369,00=1.97
JENNISON ASSOCIATES LLC=33,330,415=1.76
NORTHERN TRUST CORPORATION=28,237,436=1.49

DISNEY is listed in the services sector of the Dow component and the latest price trend shows that it is also in a bullish mode.

The stock price has spike up in February and is very near to the 52 weeks High with a view of possible breakout.
On the 9-May-11 will be the earnings announcement so meantime till that piece of news will be great for the stock.

Tracking the Dow,Monday 28.2.11
1)Personal Income and Outlays

2)Chicago PMI
3)Pending Home Sales Index

9:30am:--Bullish 20.0 points spike up..Stocks open higher after Bullard comments.

10:30am:--Early session high.Bearish engulfing.Lower crude oil is helping to sustain the market.

11:30am:--Pullback to bull pivot support with an inverted bulish hammer.A regional index showed manufacturing expanding further in the Midwest.

12:30noon:--Retrace to bull pivot resistance.Follow through was a hammer.Downgrade of Amazon.com Inc. hit technology shares.

1:30pm:--Bearish spike down to MAV support line.Consumer spending rising 0.2% in January.

2:30pm:--Rebounded to bull pivot resistance.Bullish inverted hammer.Pending home sales fell for a second straight month.

3:30pm:--Ascending bulls to near day's high.

4:00pm:--A bullish candlestick.
Oil prices edged down on reports that a tanker destined for China was loading crude in a Libyan port, while Saudi Arabia was hiking exports, with crude futures (CLJ11 97.42, +0.45, +0.46%) for April delivery finishing off 91 cents at $96.97 a barrel, or up 5.2% for the month, on the New York Mercantile Exchange.

Bank of St. Louis Federal Reserve President James Bullard told CNBC that energy prices would need to run substantially higher to curb the recovery.
The 5 days technical chart has formed a valley(trough).

Nordstrom Department al Store(NYSE:JWN)

Nordstrom, Inc., a fashion specialty retailer, offers apparel, shoes, cosmetics, and accessories for women, men, and children in the United States.
The company offers a selection of brand name and private label merchandise. It sells its products through various channels, including Nordstro full-line stores, Nordstrom Rack off-price stores, Last Chance clearance stores, and Jeffrey boutiques; and through catalog and the Internet.
Nordstrom, Inc. also provides a private label card, two Nordstrom VISA credit cards, and a debit card for Nordstrom purchases. Its credit and debit cards feature a shopping-based loyalty program. The company also designs and contracts to manufacture private label merchandise sold in its retail stores. As of March 19, 2010, it had 187 retail stores located in 28 states. The company was founded in 1901 and is based in Seattle, Washington.
TOP Instituitional Shareholders @31Dec2010.
MARSICO CAPITAL MANAGEMENT, LLC=10,863,583=4.96%
VANGUARD GROUP, INC. (THE)=8,605,227=3.93%
WELLS FARGO & COMPANY=8,379,373=3.83%
Ameriprise Financial, Inc.=7,599,467=3.47%
STATE STREET CORPORATION=6,266,514=2.86%
FMR LLC=5,492,526=2.51%
WELLINGTON MANAGEMENT COMPANY, LLP=4,882,149=2.23%
FISHER INVESTMENTS, INC.=4,156,736=1.90%
BlackRock Institutional Trust Company, N.A.=4,044,926=1.85%
TIAA-CREF INVESTMENT MANAGEMENT, LLC=3,766,641=1.72%

Top Mutual Funds Holder:-
COLLEGE RETIREMENT EQUITIES FUND-STOCK ACCOUNT=2,959,374=1.35%
VANGUARD MID-CAP INDEX FUND=1,938,596=0.89%
VANGUARD TOTAL STOCK MARKET INDEX FUND=1,886,197=0.86%
VANGUARD 500 INDEX FUND=1,537,989=0.70%
ARIEL FUND=1,334,775=0.61%
VANGUARD HORIZON FUND-CAPITAL OPPORTUNITY PORTFOLIO=1,275,000=0.58%
SPDR S&P 500 ETF Trust=1,258,091=0.57%
PIONEER FUND=1,255,793=0.57%
VANGUARD INSTITUTIONAL INDEX FUND-INSTITUTIONAL INDEX FD=1,236,985=0.56%
Columbia Fds Ser Tr-Columbia Marsico Focused Equities Fd=1,226,899=0.56%
Balance Sheet Period ending 30 January 2010

Total Assets =6,579,000
Total Liabilities =5,007,000

Common Stock=1,066,000
Retained Earnings=525,000
Other Stockholder Equity=(19,000)
Total Stockholder Equity =1,572,000

Net Tangible Assets =1,519,000

Despite the intraday temporary setback,the stock in February is still in a bullish mode.
If it ever pullback to the bull pivot and below,it is the best level for accumulation.
Meanwhile it is in a speculative mode.
Founded in 1901 as a retail shoe business,it has now grown to be the leading fashion specialty retailer in the united States.
Tracking the Dow,Wednesday.
9:30am:--Oil topped $98 a barrel,a bearish hammer.
10:30am:--Attempt to recoup but met with bearish shooting star near opening lower shadow.

11:30am:--Further bearish hammer at session low.Chaos in Libya is disrupting global markets.

12:30noon:--Another new session low,hangman.

1:30pm:--Afternoon session opening another new low,bullish engulfing.H-P (HPQ) was a leading drag today, down some 11% at one point, after issuing a revenue warning late Tuesday.

2:30pm:--Retrace to bear pivot resistance.Gold closed at its highest in seven weeks, up $12.90, or 0.9%, at $1,414 an ounce.

3:30pm:--Inverted bulls at MAV resistance line with bearish pullback to bear pivot support.In the latest housing data, sales of previously occupied homes rose in January.

4:00pm:--A bullish spin.Usually after two or three consecutive downs,the market will rebound.
A bearish spin below the MAV resistance line.The next support level will be the bear pivot before it stabilizes.

Volume weakness in the Dow for the past one week has made the index very vulnerable to a tremendous pullback.

Libya's violence sent oil prices up briefly to $100 a barrel and tech shares sank, adding credence to calls for a market correction.

A healthy pullback for bargain hunting.

Solar Energy,JA Solar Holdings Co Ltd(Nasdaq:JASO)

JA Solar Holdings Co., Ltd. located at Jiang Chang San Road,Shanghai,People's Republic of China is engaged in design, development, production and sales of high-performance solar energy products. Established on May 18, 2005, JA Solar was listed on NASDAQ in the United States (ticker symbol: JASO) on February 7, 2007.
JA Solar has built two main solar cell manufacturing facilities in Ningjin, Hebei Province and Yangzhou, Jiangsu Province with a total capacity of 2 GW. We established our 500 MW PV module factory in Fengxian, Shanghai. The capacity of multi-crystalline silicon wafer factory in Donghai, Jiangsu Province is 300 MW. We are committed to the research of high efficiency solar cell in our research center in Yangzhou, Jiangsu Province, and have achieved new type solar cell with an efficiency of over 19% through protracted and unremitting efforts.
In 2009, the sales of JA Solar reached 3.8 billion RMB and annual shipments achieved 509 MW, which made JA Solar rank the world's top six and China's top three manufacturers of solar cells. It is expected to maintain a rapid growth in shipments and exceed 1.45GW in 2010, which made JA Solar the largest solar cell manufacturer in the world.
JA Solar is committed to creating sustained value by harnessing the world's sunlight. The core values of JA Solar's philosophy are integrity, persistence and teamwork. It is JA Solar's earnest desire to excel in providing solar energy products to best serve society and the environment.
JA Solar's Vision
Protect the one Earth we all share, for this and future generations
Board of Directors
1) Baofang Jin
Executive Chairman and Chairman of the Board of Directors since May 2005.
Mr. Jin currently serves as vice-chairman of the Chinese People's Political Consultative Conference of Ningjin County, vice president of Hebei Chamber of Commerce, vice chairman of Hebei Association of Entrepreneurs, executive chairman of Hebei Information Industry Association, chairman of Electronic Information Materials Sub-Association of Hebei Information Industry and Informatization Association, etc..
Mr. Jin holds an associate's degree from Hebei Broadcast and Television University in China.
2) Peng Fang
Chief Executive Officer
Appointed in January 2010.
Dr. Fang was president of Best Solar Co., Ltd., where he turned a start-up company into an internationally known solar module company in just 18 months. Dr. Fang was formerly president of Huahong NEC, one of the largest semiconductor foundries in China.
Dr. Fang has also held various technology and management positions at Applied Materials and AMD in the U.S.
Dr. Fang received his Ph.D and MSEE degrees from the University of Minnesota. He was also a postdoctoral research fellow at the EECS Department of UC Berkeley. Dr. Fang was chairman of the IEEE Electron Devices Society, Santa Clara Valley Chapter.
3) Jian Xie
Chief Operating Officer appointed in January 2010. Since joining JA Solar in April 2006, Mr. Xie has served in such capacities as the company's director of corporate finance, director of investor relations, assistant to the chief executive officer, secretary of the board of directors and vice president of Sales.
Prior to joining JA Solar, Mr. Xie worked in the investment banking department of Ping'an Securities Co., Ltd., and as an associate in the investment department at Dogain Holdings Group Co., Ltd.
Mr. Xie received his master's degree in finance from Guanghua School of Management at Beijing University in 2004.
4) Anthea Chung
Chief Financial Officer appointed in January 2009.
Ms. Chung has more than 16 years of financial management experience at public and private companies, including most recently the chief financial officer position at Solar Enertech Corp., a public company that manufactures solar cells and solar modules in Shanghai and Menlo Park, California. She was also former vice president and corporate controller at RAE Systems in San Jose, California, a US-listed company manufactures high-tech gas detection equipment. Ms. Chung began her career as an auditor and worked over eight years for PricewaterhouseCoopers.
Ms. Chung earned her Bachelor of Science degree in accounting at Indiana University and is a certified public accountant registered in California.
5) Yong Liu
Chief Technology Officer appointed in September 2010.
Mr. Liu has more than 15 years of operation management experience at semiconductor wafer and solar cell manufacturing facilities. Prior to joining JA Solar, he served as fab director at Semiconductor Manufacturing International Corporation (SMIC), responsible for running three 12-inch wafer foundry fabs, which were the most advanced wafer fabs in China. Mr. Liu had held various management positions in R&D and manufacturing since joining SMIC in 2001. Previously, Mr. Liu worked as deputy production manager at Wacker Siltronic Singapore.
Mr. Liu received his master's degree in solid state chemistry and bachelor's degree in solid state physics from the University of Science and Technology of China in 1992 and 1990, respectively.
6) Ming Yang
Vice President appointed in January of 2009.
Mr. Yang has more than six years of experience working as a Wall-Street buyside and sellside analyst, specializing in the renewable energy and semiconductor materials sectors. Most recently, Mr. Yang was an analyst covering the renewable energy sector at Coatue Management, a $2 billion hedge fund based in New York. Before that, he was vice president at Piper Jaffray for four years, as senior China research analyst covering solar energy and semiconductor materials, based in Shanghai. Mr. Yang started his Wall Street career as an analyst at Dreman Value Management.
Mr. Yang holds a Master of Business Administration degree from Cornell University and a bachelor's degree in electronic engineering and computer science from the University of California at Berkeley.
Top Institutional Holders at Sep30,2010
INVESTEC ASSET MANAGEMENT LTD=5,861,800=3.47%
SAM Sustainable Asset Management Ltd=5,556,700=3.29%
MORGAN STANLEY=5,204,526=3.08%
DEUTSCHE BANK AKTIENGESELLSCHAFT=3,902,230=2.31%
FMR LLC=18,109,870=10.71%
UBS GLOBAL ASSET MANAGEMENT (AMERICAS) INC=3,203,650=1.90%
Pictet Asset Management Ltd=2,511,932=1.49%
Invesco Ltd.=2,400,717=1.42%
EVEREST CAPITAL LIMITED=2,093,400=1.24%
JP MORGAN CHASE & COMPANY=1,825,022=1.08%
Top Mutual Fund Holders
Powershares Exhg Traded Fd Tr-POWERSHARES WILDERHILL CLEAN E=1,539,020=0.91%
FIDELITY DISCIPLINED EQUITY FUND (USA)=1,300,000=0.77%
FIDELITY EMERGING ASIA FUND=1,214,890=0.72%
Claymore ETF Tr 2-Guggenheim Solar ETF=1,052,009=0.62%
Wells Fargo Advantage Small Cap Growth Fd=1,049,400=0.62%
FIDELITY NEW MILLENNIUM FUND=625,000=0.37%
RiverSource Equity Ser-Columbia Mid Cap Growth Opportunitiy=616,928=0.37%
OPPENHEIMER MAIN STREET SMALL & MID CAP FUND=530,890=0.31%
MORGAN STANLEY INST FD INC-EMERGING MARKETS PORT=528,200=0.31%
Claymore ETF Tr-Guggenheim BRIC ETF=353,880=0.21%
Balance Sheet:
Total Assets =$1,077,340
Total Liabilities =$386,643
Total Stockholder Equity =$690,697
Net Tangible Assets =$688,946
Weighted average number of outstanding shares:161,643,312
Business Risks:
1) Competition.
2) Change in government policies such as reduction of subsidies.
3) Customers unwilling to finance the cost of such product.
4) Overdependency on a small niche of customers.
5) Ever changing technology.
6) Exchange rate.
7) Failure to protect intellectual property rights.
8) Counterparty risks through procurement of supplier.
9) Key personnel.
In the event the above risks are not well managed,the company's revenue will be drastically affected.
JA Solar (Nasdaq: JASO) is set to post a record quarter when it reports its Q4 2010 earnings next week. In fact, it should mark a record year across numerous metrics such as shipments, revenues, and most importantly, net income.
Friday's candlestick has fully covered last November's candle body.What is remaining to short-cover is the upper shadow up till $9.77 and might easily move into a breakout.
It's a strong buy signal.Any pullback will be technically minimal.

Friday 18/2/11(Index/Options Futures Expiry Day)
9:30am:--A mild bearish gap down followed by a bullish engulfing. The International Monetary Fund said the United States' policy of quantitative easing could cause a destabilising flood of capital, though it conceded this had not happened so far.

10:30am:--Session high,bullish spin. Group of 20 meeting will be on investors' radar screens this weekend.

11:30am:--Morning high followed by bearish spike down.For the past two days,the Dow volume was extremely low and the market can be easily cornered.

12:30noon:--No sign of pullback,another high point.

1:30pm:--From the morning high,the noon session opens with a low.Bearish engulfing.

2:30pm:--A pullback to session bull pivot support.A dragonfly doji checkmate.

3:30pm:--Holding at the high for a third time.

4:00pm:--Inverted bull ending with a runaway bull.There is a gap up here so the gap will be covered back as this is a bull trap.

A three straight sets of gains for the week bringing the Dow to another fresh multi-year highs.

With a very light trading volume for the past few days,the market is being manipulated by certain authority.This is a so call confidence building.
The market’s advance on Friday came even as China’s central bank said it will raise banks’ reserve-requirement ratio by half a percentage point, the second increase this year to withdraw excess liquidity from the economy and curb inflation. The move weighed on the materials sector, which gets much of its demand from China, but the rest of the market shrugged it off.

French banks in Ivory Coast.(BNP.PA)

The Republic of Ivory Coast lies in the North western part of the African continent with a population of 21.6 million (UN, 2010)
Its capital city is Yamoussoukro with Abidjan being the largest coastal city.

The major languages are French and indigenous languages.
Major religions are Islam, Christianity and indigenous beliefs.
The Monetary unit: 1 CFA (Communaute Financiere Africaine) franc = 100 centimes.

Main exports: Cocoa, coffee, tropical woods, petroleum, cotton, bananas, pineapples, palm oil, fish.

The world's top cocoa grower has been in turmoil since a disputed Nov. 28 presidential election between incumbent Laurent Gbagbo and rival Alassane Ouattara.

Politics in Ivory Coast has been in turmoil since the presidential elections of November 2010.
Victory was claimed by both the incumbent, Laurent Gbagbo, and his rival Alassane Ouattara.
Mr Ouattara was internationally recognised as president, after the electoral commission declared him winner of the run-off vote.
However, Mr Gbagbo claimed victory after the Constitutional Council overturned Mr Ouattara's win.
Mr Gbagbo came to power in 2000 and ruled during the civil war, then overstayed his legal term, which expired in 2005. The vote was rescheduled at least six times before it was finally held.
Mr Ouattara, a former prime minister, has been confined to the grounds of a resort hotel in the capital, protected by hundreds of UN peacekeeping troops. He has been barred access to the institutions of power, including the presidential palace located across the lagoon.
But abroad, Mr Ouattara has succeeded in exerting his influence, including asking some 20 countries to no longer recognize Mr Gbagbo's ambassadors.

The United States and the European Union have imposed sanctions on Mr Gbagbo and his circle, while the World Bank and the West African central bank have cut off his access to financing.
West African regional bloc ECOWAS has told Mr Gbagbo it could use force to oust him if he doesn't leave quietly.
Inside the country, rebels still controlling the north after a 2002-03 civil war have said they are on maximum alert and are ready to fight alongside any ECOWAS intervention force.
On Mr Gbagbo's side, the armed forces remain loyal, he controls the state broadcaster, and has a powerful youth group - the Young Patriots - ready to take to the streets.

BNP Paribas (Euronext: BNP) is the largest global banking group in the world, headquartered in Paris with its second global headquarters in London.

Shareholders as at 31 December 2009:
1) Belgian State (***through SFPI (1))---10.8%
2) AXA---5.2%

3) Grand Duché de Luxembourg---1.1%

4) Public---5.4%

5) Employees---5.7%

6) Institutional Investors---5.9%

7) Other and unidentified---5.9%
***Société Fédérale de Participations et d’Investissement: public interest limited company acting on behalf of the Belgian State.
Changes in Paid-up capital:
On January 17, 2011, BNP PARIBAS (SA) share capital was updated by subscription of 506,622 new shares at a nominal value of 2 euros each further to the exercise of stock subscription options.Consequently, the amount of BNP Paribas (SA) share capital rose by a figure of 1,013,244 euros and thus now stands at 2,397,320,312 euros divided into 1,198,660,156 fully paid-up shares with a nominal value of 2 euros each.

Balance sheet as at 31 December 2009:-
Total Assets =2,057,698,000
Total Liabilities =1,988,197,000

Common Stock=25,188,000
Retained Earnings=5,832,000
Treasury Stock=38,481,000

Cash Flow:

Change In Cash and Cash Equivalents =11,241,000

Income statement as at 31 December 2009:
NetIncome =5,832,000

French bank BNP Paribas SA (BNP.FR) said Monday that the local bank it runs in Ivory Coast, BICICI, has temporarily closed its branches for security reasons.

Tensions have been building in the West African nation where leader, Laurent Gbagbo, is clinging to power after an election he is widely believed to have lost.
On its website, BNP Paribas said its BICICI unit was created in 1962 and is one of the Cote d'Ivoire's leading banks. It has a network of 13 branches located in the major cities of the province, with a head office in Abidjan.
"BICICI provides all the traditional services of a large commercial bank, including tailor-made solutions provided by its investment banking arm to support the growth of companies," it says.
This stock is the darling of most international fund managers.A blue chips index component.

As seen from the 3 months chart,the bulls are charging and February's candlestick is spinning up the previous month upper shadow.

This is a strong buy signal as it has penetrated the 52 weeks MAV resistance and is hoovering above the bull pivot resistance line.

The Dow Wednesday is 2 market days to index/options expiry.
9:30am:--Bullish 30 points gap up booster. Robust earnings reports and corporate deals lifted sentiment.

10:30am:--Spike up to session high.
11:30am:--Bearish shooting star and engulfing.

12:30noon:--Bearish nosedive.News of two Iranian warships en route to Syria through the Suez took the Dow to kamikaze.
1:30pm:--A technical rebound to MAV resistance line. The Egyptian body that operates the Suez Canal denied the minister’s claim, saying warships must get permission ahead of time and that no request had been made, the Associated Press and others reported.

2:30pm:--Bullish engulfing. Fed officials raised their 2011 growth forecast to a range of 3.4% to 3.9% from their previous estimate of 3% to 3.6%.

3:30pm:--Holding at bull pivot support.Doji star noted.

4:00pm:--Bearish harami.This is bad for the follow through.
Deals, earnings and U.S. data bolstered investors’ confidence in the economic recovery.

February's candlestick todate is a bullish inverted hammer.

Any geopolitical tension that might occur will result in some mild pullback and a good chance of opening up new position.

The overall scenerio is still bullish as there are growing list of proposed private-equity takeovers that will provide the impetus.

Patagonia Plains of Argentina.(BPAT.BA)

Near the southern most portion of South America and near to Falkland Islands,lies the great rolling steppe like plains of Agrentina called the Patagonia.

The Andean cordillera lies towards the west facing the Pacific Ocean while the Patagonian plains faces the Atlantic Ocean.

Patagonia physical landscape is just a plateau rising in a succession of abrupt terraces covered with an enormous bed of shingle almost bare of vegetation.

In the hollows of the plains are ponds or lakes of fresh and brackish water.

Patagonia seems to be a portion of the Antarctic continent, the permanence of which dates from very recent times, as is evidenced by the apparent recent emergence of the islets around Chiloe, and by the general character of the pampean formation.

The region of Patagonia was first noted in 1520 in European accounts of the expedition of Ferdinand Magellan, who on his passage along the coast named many of the more striking features—Gulf of San Matias, Cape of 11,000 Virgins (now simply Cape Virgenes), and others.

Patagonia is populated primarily by people of European descent.The official language of Argentina is Spanish.
There are five provinces on the Argentinian side of Patagonia. They are Neuquen, Rio Negro, Chubut, Santa Cruz and Tiero del Fuego. Patagonia also touches on the Chilean regions of Los Lagos, Aysen, and Magallines. The borders of the areas in Patagonia between Chile and Argentina have sometimes been in dispute. The Chilean Patagonia is considered very remote and, like the Argentinian side, is sparsely populated with people but abounds with many unique species of animals.

Agriculture, ranching and tourism are the main economic activities in the Argentinean side of Patagonia. There is an abundance of natural resources such as timber, mighty rivers, and deposits of gold, silver, copper and lignite still mostly undeveloped. A series of dams on the Limay and Neuquen rivers produce hydro power in Neuquen province. Irrigated areas of the Negro and Colorado River valleys make it favorable for ranching and farming. The province of Chabut produces the high quality wheat of the Argentine Republic. Oil and natural gas production center on the area around Comodoro Rivadavia.
Argentine Banking:-

During the 1990s, marked by President Carlos Menem's policies of liberalization, Argentina's financial system saw a significant consolidation and strengthening, in large part through foreign investment.

The banking system suffered a fatal flaw: it lent dollars and took deposits in Argentine pesos. By early 2001, deposits had reached $87,000 million, but when the economy took a second dip, capital started flowing out of Argentina, and deposits started to move away from the weaker players of the financial system, namely provincial banks and large local banks.
This eventually led to a run on all banks in the system, a freeze in deposits, and a currency devaluation, which included an asymmetric devaluation of loans and deposits. Banks were forced to collect their dollar loans at a conversion rate much lower than the rate applied to its dollar deposits. This made many banks technically bankrupt and destroyed the confidence of the public in the financial system, which was held responsible for many of the economic ills of the country
Banco Patagonia S.A.(Buenos Aires:BPAT.BA)

Banco Patagonia Sudameris S.A. operates as a bank in Argentina. It provides a range of financial solutions for individuals, corporations, small and medium sized companies, private banking, and institutional customers. Banco offers loans and deposits. The company was formerly known as Banco Patagonia S.A. and is based in Buenos Aires, Argentina.
It is Argentina's third largest private financial institution.
The balance sheet as at 31 December 2009 :-

Total Assets =10,054,000
Total Liabilities =8,200,000
Common Stock =965,000

Retained Earnings =889,000
Net Income=449,000

The shareholders at 31 December 2008:-
Jorge G. Stuart Milne= 24,92%

Ricardo A. Stuart Milne 24,92%

Emilio Gonzalez Moreno 9,24%

Intesa Sanpaolo S.p.A. 9,99%

Acciones en Cartera 3,06% Mercado 24,83%

Provincia de Rio Negro 3,04%

News in brief:-

15Sep2010== S&P ups Banco Hipotecario, Banco Patagonia, Caja de Valores

02November2010== Brazil's central bank BCB has authorized federally controlled Banco do Brasil (BB) to increase its stake in Argentina's Banco Patagonia to 75%.

04November2010== Patagonia rises 16% on Raymond James(NYSE:RJF) outperform recommendation.

09November2010== Banco Patagonia sees BB tender offer unsuccessful on higher current stock price.

25January2010== Financial services firm Raymond James (NYSE: RJF) has downgraded Argentina's Banco Patagonia to market perform from outperform on relative valuation.
Banco Patagonia S.A. is listed on the Buenos Aires Stock Exchange.(Buenos Aires:BPAT.BA)

It has such a small capital paid up and held tightly by the major shareholders.

The latest candlestick suggest that it is a bearish hangman.That's for sure as you have a promoter downgrading it for their own benefit.

Look to buy when they short sell below the lower shadow as it is currently near to the bull pivot resistance but failed to touch it.

The past 2 months candles have been hoovering within the upper shadow of November's range.

Tracking the Dow on Tuesday,(3 market days to index/options expiry)
9:30am:--Bearish 50.0 points gap down opening.January retail sales rose less than expected, while the February reading on New York manufacturing came in above forecasts.

10:30am:--Dip lower,no sign of recovering the opening gap.Bears hammer.Inflation remains a key factor to watch for investors.

11:30am:--A retracement to MAV resistance line with bearish shooting star.

12:30noon:--End of morning session holding at the MAV resistance line fro the second time.Bearish spin.

1:30pm:--Failure to hold at the MAV line,Bearish spike down.Energy stocks are pulling down the market.

2:30pm:--Intraday new low.Bullish engulfing.

3:30pm:--Holding at the bear pivot.

4:00pm:--A runaway bull.
A disappointment that retail sales in December weren't as strong as many had thought coupled with the U.S. import prices soaring 1.5 percent mad investors a bit nervous.

Inflation is the U.S. will take center stage later this week when the government releases figures on producer prices on Wednesday and consumer prices on Thursday. In the U.K., consumer prices surged 4 percent in January, double the Bank of England’s target, which will force the U.K. central bank to consider a hike in interest rates.

For the past 6 months the Dow has been trending upwards,finding higher levels along the way.Its a volatile upward trend with no real bulls as seen by the many doji stars all along the way.Each monthly session will either have a bullish or bearish spike midway and then continue spinning with the quantitative easing liquidity.

The mid-term US election last November pulled the Dow to find a pivot low.The Dow will presumbly advance further till the Presidential Election schedule in 2012.

Cotton price skyrocketing.

Imagine the price of cotton 2 years ago was $0.40 per pound,as at Friday's closing was $1.8997 with an intraday range of 1.8796 - 1.9455.
Cotton is a basic crop that is a major input for the textile, agriculture, and food industries. 64 percent of cotton is used for apparel, 28 percent for home furnishings, and 8 percent for industrial products.The US as world's major exporter stimulated $120 billion of business revenue just from cotton.
Overall, China is the largest producer and consumer of cotton, accounting for 29 percent of the world's production and 43 percent of the world's use of milled cotton in 2007. China manufactures apparel and other textile products from the milled cotton, often for export.Demand in this and other emerging markets is a leading driver of cotton prices, as are seasonal growing conditions and the prices of competing crops.
Higher corn and soybean prices due to the production of biofuels makes those crops more attractive to growers, displacing cotton production and driving up prices. In 2008, US cotton acres are down 30 percent, to 11 million from 15 million in 2007. Demand for cotton seed, a significant byproduct of cotton production used in the food industry and for animal feed, also influences cotton prices.
Cotton farmers benefit from higher prices. However, the prices of competing crops such as corn and soybean are also very attractive and have contributed to smaller cotton production.
Polyester is a synthetic fiber that becomes more attractive with higher cotton prices. Polyester fiber producers include Nan Ya Plastics Corp (TPE:1303) and Wellman Inc (OTC:WMANQ).
Cotton Exchange Traded Funds (ETF's) such as ETFS Cotton (LON:COTN) track cotton prices.
Clothing, footwear, and industrial textile manufacturers are hurt by rising cotton prices. For example, cotton is the primary raw material for Hanesbrands, representing 6% of cost of sales, and an increase of $0.01 per pound in cotton prices translates to a $3.3 million increase in annual raw material costs.However, the effect of this on company earnings is uncertain because the effect of cotton prices on industry selling prices cannot be determined.
In the US, 27 textile mills closed in 2007 and industry employment fell by 51,000. While higher cotton prices are not helpful, the US plant closings are mostly due to increased competition from Chinese imports.
Cotton Futures contracts:-
Cotton No. 2 futures are traded on the New York Board of Trade under ticker symbol CT in cents and hundredths of a cent per pound.
Delivery Dates:--Cotton No. 2 futures are delivered every year in March, May, July, October, and December.
Contract size:--One Cotton No. 2 futures contract on the New York Board of Trade is 50,000 pounds net weight.
Tick Value:--1/100 of a cent (one "point") per pound equivalent to $5.00 per contract.
Daily Price Limit:--5 cents above or below previous day's settlement price.
Trading Hours:--On the CME Globex electronic platform: 2:30 AM until 2:45 PM, New York Time.
Last Trading Day:--Seventeen business days from end of spot month.
Delivery grades:--Quality: Strict Low Middling, Staple Length: 1 2/32nd inc.
Margin:--Initial Margin: $1820.00 Maintenance Margin: $1300.00
Everyone can trade in cotton futures even if you don't own a cotton farm.You just need to close out your position if you have made a profit in intraday trading or carrying an overnight position.Just like normal trading,you need a stop-loss or to cut loss if market is against you as the expiry date nears.
Latest News:-
THE world's top cotton-futures exchange is clamping down on speculation amid soaring demand that has sent prices so high that they threaten losses for mills, commodity merchants and apparel producers.
The next few weeks are a key time for cotton mills, which hold contracts to buy cotton under the March contract, which expires on March 9. Usually, they would have locked in a price for that cotton. But as prices kept soaring, many held off, hoping for a decline that never came.
IntercontinentalExchange, commonly referred to as ICE, fears that speculators could take advantage of the mills by buying up cotton, thereby causing a squeeze that would drive prices even higher. In response, ICE yesterday said it will increase its scrutiny of big positions from now on.
Market participants wanting to hold more than 300 contracts, the equivalent of 30,000 bales, must request approval and prove they have an economic need for the cotton. While this rule hasn't usually been enforced in the cotton market, it is has been regularly applied across other agricultural products.
Cotton is in a mess,it's moving so quickly, predominantly up. Every day you pass thinking you are going to see something better, you risk missing out on cotton all together. If you don't take cotton today, your costs are escalating and you are under water pretty quickly.
Tracking the Dow,Friday 11/02/11.(5 market days to index/options expiry)

9:30am:--Bearish 20.0 points gap down.Egyptian unrest hangover.Gap immediately being covered.
10:30am:-- Buliish inverted at session high. Reports that an index of consumer sentiment climbed in February.
11:30am:--After reaching the morning high,pullback begins for the mid-morning break.Bearish engulfing.
12:30noon:--Holding at session MAV support line.Egypt's President Mubarak resigned.A sigh of relief to the market.
1:30pm:--Doji stars hanging on within mother bull.Stocks in mortgage insurers surged on a government proposal to shrink the size of the Federal Housing Administration, a government-run competitor to the private mortgage insurance industry.
2:30pm:--Bullish spike up to new high.No more geopolitical tension,a good news.
3:30pm:--A double top and time for a pause.Bearish harami.
4:00pm:--Bullish close above the bull pivot support line.

A relief rally after Egyptian President Hosni Mubarak resigned, easing tension around the Middle East for now.
The bulls are still finding new high each week.One great risk has been eliminated so time to focus on the economic outlook.
Stocks reached 21/2 years high and the undertone is extremely bullish.

Government Sponsored Enterprise Fannie May.(FNMA:OB)

Fannie Mae was founded in 1938 during the Great depression and today it was a very depressed public listed company.The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities,allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on thrifts.
Fannie Mae is a government-sponsored enterprises (GSEs) are a group of financial services corporations created by the United States Congress. Their function is to enhance the flow of credit to targeted sectors of the economy and to make those segments of the capital market more efficient and transparent. The desired effect of the GSEs is to enhance the availability and reduce the cost of credit to the targeted borrowing sectors: agriculture, home finance and education. The financing of affordable housing for low-income and moderate-income families are the main priority.
In 2000, because of a re-assessment of the housing market by Housing Urban Development, anti-predatory lending rules were put into place that disallowed risky, high-cost loans from being credited toward affordable housing goals. In 2004, these rules were dropped and high-risk loans were again counted toward affordable housing goals
Fannie Mae buys loans from approved mortgage sellers, either for cash or in exchange for a mortgage-backed security that comprises those loans and that, for a fee, carries Fannie Mae's guarantee of timely payment of interest and principal. The mortgage seller may hold that security or sell it. Fannie Mae may also securitize mortgages from its own loan portfolio and sell the resultant mortgage-backed security to investors in the secondary mortgage market, again with a guarantee that the stated principal and interest payments will be timely passed through to the investor.
The White House missed a deadline at the end of January for telling Congress what it wants to do with the two GSEs. That report will be released as early as Friday, people with knowledge of its contents said, but it will present a range of options without stating a preference.

Closing price:$0.72 Turnover:5,685,0776 shares.

February's candlestick is an inverted bullish hammer as todate.It looks like it is slightly burning away and any pullback entry point is best at January's half candlestick body.

Tracking the Dow on Wednesday.09/02/11.(7 market days to index futures expiry)
9:30am:--A wild swing opening with a hangman pattern.Ahead of Fed's chairman testimony before the House Budget Committee on the state of US economy.

10:30am:--Spinning bulls at session high.Asian markets fell broadly overnight as investors there got their first chance to react to the China interest-rate increase.

11:30am:--New morning high with bearish hammer.

12:30noon:--Bearish spin at morning low.Financials were also weak, with J.P. Morgan Chase falling 1.4% after one of the bank's executives apologized for overcharging 4,500 active-duty military members for mortgages and wrongly foreclosing on 18.

1:30pm:--Retracement near the bull pivot resistance line.

2:30pm:--Pullback to new intraday low.Federal Reserve Chairman Ben Bernanke told a congressional committee that the labor market remains sluggish and hecontinues to believe that inflation will remain subdued. WallStreet's reaction to Bernanke's comments was muted.

3:30pm:--Retracing to the MAV resistance line.

4:00pm:--Bullish engulfing breakout ending with a runnaway bull.A late-hour rally in Bank of America shares helped the Dow squeeze out its eighthstraight day of gains.

Another spinning bull in an uptrend market which is still intact except for the intermittent volatilty.7 days before index/options expiry,it is normal to have bad news injected so as to artificially create a rollover high volume contracts.

U.S. stocks ended mixed Wednesday as a late rally pushed the Dow into positive territory at the close after a day tempered by downbeat comments from Fed chief Ben Bernanke.

The economy is improving and so are the company's earnings and valuations.

US top 3 mobile provider.(NYSE:S)

Sprint Nextel Corporation offers wireless and wireline communications products and services to consumers, businesses, and government users in the United States, Puerto Rico, and the U.S. Virgin Islands.

Wireless segment

-provides wireless mobile voice and data transmission services on networks that utilize CDMA and iDEN technologies,as well as offers fourth generation wireless services
Wireless data communications services -comprise Internet access and messaging, email services, wireless photo and video offerings, and mobile entertainment applications, as well as asset and fleet management, dispatch services, and navigation tools; and wireless voice communications services include basic local and long distance wireless voice services, voicemail, call waiting, three way calling, caller identification, directory assistance, call forwarding, speakerphone, and push-to-talk services, as well as roaming services.

This segment sells accessories, such as carrying cases, hands-free devices, batteries, and battery chargers, as well as devices and accessories to agents and other third-party distributors for resale. In addition, it markets its post-paid services under the Sprint and Nextel names; prepaid services under the Boost Mobile, Virgin Mobile, and Assurance Wireless names.

Wireline segment

-provides wireline voice and data communications services, including domestic and international data communications using various protocols, such as multiprotocol label switching technologies, Internet protocol (IP), asynchronous transfer mode, IP-based frame relay, managed network services, voice over IP, and traditional voice services. It also offers wide-area network and long distance services, as well as operates an all-digital long distance and Tier 1 IP network.

Sprint Nextel was founded in 1899 and is headquartered in Overland Park, Kansas.
The Overland Park, Kan.-based company has struggled since acquiring Nextel Communications Inc. in 2005 as technical problems, poor efforts to consolidate the two companies and stiff competition for feature-rich phones has led many subscribers to switch to competing services.

Annual Balance Sheet data @31 December 2009.

Total Assets =$55,424,000

Total Liabilities =$37,329,000

Total Stockholder equity=$18,095,000.###

###Common Stock=$6,015,000+Retained Earnings=($33,779,000)+Treasury Stock($582,000)+Capital Surplus=$46,793,000+Other stock equity=($352,000)

Net Tangible Assets=($5,367,000)

Cash Flow:-$128,000

Nett Income Accrual=($2,436,000)

Major shareholders @30 September 2010:-

1) DODGE & COX INC==225,816,518==7.65%
2) Bank of New York Mellon Corporation==191,169,698==6.48%
3) VANGUARD GROUP, INC. (THE)==108,484,047==3.675%
4) STATE STREET CORPORATION==106,319,743==3.60%
5) GOLDMAN SACHS GROUP INC==97,682,150==3.31%
6) JP MORGAN CHASE & COMPANY==91,560,088==3.10%
7) BlackRock Institutional Trust Company, N.A.==76,228,606==2.58%
8) FRANKLIN RESOURCES, INC==72,208,465==2.45%
10) PRICE (T.ROWE) ASSOCIATES INC==70,031,700==2.37%
11) FMR LLC==411,626,857==13.94%

Top Mutual Funds Holdrs:-

1) DODGE & COX STOCK FUND==$131,825,739==4.47%
2) Fidelity Series Large Cap Value Fund==56,547,510==1.92
3) FIDELITY OTC PORTFOLIO==52,041,756==1.76
4)FIDELITY CAPITAL APPRECIATION FUND==46,397,699==1.57
5) DODGE & COX BALANCED FUND==37,874,100==1.28
6) TEMPLETON GROWTH FUND, INC.==31,856,370==1.08
7) VANGUARD TOTAL STOCK MARKET INDEX FUND==31,838,593==1.08
8) FIDELITY MAGELLAN FUND INC==28,000,000==0.95
9) VANGUARD 500 INDEX FUND==27,122,144==0.92
10) SPDR S&P 500 ETF Trust==22,517,066==0.76

Company activity:-

Lately it plans to sell a Kyocera Corp phone with two screens and Google Inc's software, in an effort stand out in a crowded U.S. smartphone field where Apple Inc gets much of the consumer attention.

Sprint Nextel Corporation.(NYSE:S)-Technology

A good speculative counter wherein one must flex his/her muscle with those giant famous name speculators.

Currently it seems that there are profit taking activities within the range of January's candlestick body.

It has completed covering the January's full body and closes at half the January's body yesterday.

The upper shadow has yet to be played again but meantime caution is the game as it's a bearish spin eyeing on the MAV support line.Anything below MAV support line level is a good entry point.

Yesterday High:$4.49 Low:$4.35 Closing:$4.40 Turnover:5,3828,148 shares.

Tracking the Dow,Monday,7/2/11.The Dow is 9 market days to index futures/options expiry.
9:30am:--Bullish 30 points gap up.The 12,000 mark psycological level has brought back investors confidence.

10:30am:--Session high.No sign of any pullback to fill up opening gap.Egypt tension has been reduced.

11:30am:--Morning session high,bearish engulfing.News of mergers and acquisitions indicated attractive stock valuations.

12:30noon:--Pullback to bull pivot support level.Struggling U.S. Internet company AOL
has agreed to buy The Huffington Post for $315 million.

1:30pm:--Another hit at the bull pivot spport,bears rampaging.The price of copper hit a record on concerns about supply and as economic data recently boosted the outlook for demand.

2:30pm:--Bull pivot support breached.News that computer hackers had infiltrated the operator of the Nasdaq Stock Exchange could be another blow to investor confidence, as Wall Street works to repair an image with investors and traders dented by last year's "flash crash."

3:30pm:--Bears held back slightly above MAV support line.Dragonfly doji helping a rebound.

4:00pm:--Bearish profit taking.A spike in oil prices might become a headwind for the global economy and hurt equity markets.

Index is poised for a pullback as Friday's bullish hammer is an early sign.If not for the ongoing Merger and Acqusition news,the market will be drifting within a tight zone.The bull pivot support line will be the level of a correction.

In a sign of a more stable debt market in Europe, demand for Portugal's five-year syndicated bond is around 6 billion euros, double the minimum placement announced earlier, Treasury Secretary Carlos Pina said on Monday.

Calvin Klein by Warnaco Group Inc.(NYSE:WRC)

The famous Calvin Klein garment apparel is one of America's and also the world's most premier leading designer brands.It is considered the heritage business of the Warnaco Group Inc which is also public listed in the New York Stock Exchange having its corporate office in Delaware,New York.
Calvin Klein Underwear remains the dorminant glocal designer underwear brand.In the women's section is the bra category.
The Jeans portfolio is the largest revenue earner of the group with the latest international marketing campaign featuring Eva Mendez and Jamie Doman through the introduction of the "body" jean,a dual gender launch with a body-enhancing fit.
The company's international expansion included strong growth from Latin America and Asia.It is constantly optimizing existing markets and directly assuming control over other geographies.In 2009,new direct markets include Peru and Chile while in full control of the Brazillian business.

In Europe the emphasis was on developing the underpenetrated countries with particular focus on Germany where 4 new stores were opened.There is al ong term goal of developing a Direct-to-consumers business which accounted for 30% of the company's revenue.

The revenue for CHAPS,CORE INTIMATES & SPEEDO being their heritage business have constant growth.With good marketing and infrastructure support,the company's vision for a sustainable long-term growth is achievable judging from their solid balance sheet strength affording the company with financial flexibility.

The Warnaco Group also fulfil its role as a good global corporate citizen where it has contributed various kind of support both domestically and internationally to communities and organizations.

It's a mission of giving back to communities where we live and work.

The company operates in 3 business groups(segments) and their 2009 fiscal year revenue as follows:-

1) Sportswear group-----$1,091,165(54.0%)

2) Intimate Apparel Group-----$677,315(33.6%)

3) Swimwear Group-----$251,145(12.4%)

The Sportswear Group designs,sources and markets premium priced men's and women's jeanswear,sportswear and accessories.(Calvin Klein & Chaps)

The Intimate Apparel Group designs,sources and markets upper moderate to premium priced intimate apparel and other products for womenand better to premium priced men's underwear and lounge wear.(Warnes,Olga Christina,Body Nancy,Ganz Body Slimmers)

The Swimwear Group sub-licenses the"Speedo" label to suppliers of apparel.

The worlwide apparel industry is heavily influenced by the following economic conditions:-

1) Foreign currency exposures.

2) Changing fashion trends and consumer preferences.

3) Pricing pressures and trade quotas.

4) Competing with domestic and international brands.

5) Increase in prices of raw materials and transportation costs.

6) Shortage of supply sources and interruptions to production facilities owned by third party contractors.

7) Failure of suppliers and contractors to adhere to quality and production standards.

8) Depend on a limited number of customers for a significant portion of sales.

9) Trademark protections and intellectual propert rights.

10) Reputations of licensed own brand.

11) Local laws and tax liabilities.

12) Changing international trade regulations.

Stock Equity News:-

As at February 22,2010,there was 14,195 holders of common stock.

In May 2007,the company's Board of Directors authorized a share repurchase program for the repurchase of up to 3,000,000 shares of common stock up to a period of 4 years.This program may be modified or terminated at any time.At January 2,2010,there were still outstanding 1,490,131 shares remaining for repurchase under the 2007 Share Repurchase Program.

Repurchase stocks held in treasury:-

October 4 -October 31,2009------429 shares @$42.17

November 1-November 28,2009-----596 shares @$42.18

November 29,1009 --2January 2010-----625 @$43.19

On May12,2010,a new repurchase program was reinstated replacing all the old ones.This time a multi-year 5 million repurchase program,only 11.3% of company's outstanding stock.

At 2 January 2010,the Company has cash and cash equivalent of $320.8million versus debt of $210.7million.

Diluted earnings per share from continuing operations as per adjusted:-$2.82

As at 2 January and 3 January 2009,the company recorded $90.0million and $87.4million,respectively,of accounts receivable reserves.

Weighted average number of shares used incomputing income per share==Basic:45,433,874

Diluted:46,196,397

The Major Institutional Holders as @ 30th sep 2010 are:-
1) VANGUARD GROUP, INC. (THE)--2,265,386---5.09%
2) EPOCH INVESTMENT PARTNERS, INC.---1,595,846---3.59%
3) STATE STREET CORPORATION---1,535,222---3.45%
4) BlackRock Fund Advisors---1,428,878---3.21%
5) Bank of New York Mellon Corporation---1,363,104---3.06%
6) BlackRock Institutional Trust Company, N.A.---1,233,166---2.77%
7) BUCKINGHAM CAPITAL MANAGEMENT---1,227,078---2.76%
8) INVESTEC ASSET MANAGEMENT LTD---1,093,347---2.46%
9) Perkins Investment Management, LLC---1,080,566---2.43%
10) FMR LLC---4,933,524---%11.09
Warnaco stocks in the Consumer sector have been very volatile with big swings for the last 3 months.The annual fiscal year is 31st December.

Investing Opinion Views:-

January being the start of a new quarter has a big bearish spinning doji engulfing the earlier year end candle stars.
February started with a clean near unshaven lower open near the lower shadows of all previous candlestick.This augurs well for the stock.As at 4/2/11,the closing price is $55.96 with a turnover of 1,435,475 shares.The bulls are in control this month. The stock has good prospect of covering up all three previous months upper shadow thereby forming a breakout as the 1Q financial reporting begins to appear.This is further aided by the outstanding repurchase program the company is undertaking which is intended to enhance the stock value of fellow investors.Despite the price spike up last Friday,the stock is still worth buying now as it has already penetrated the 52 weeks bull pivot resistance line.It will be finding a new level high.
Tracking the Dow Friday,04/02/11.

9:30am:--Bullish 20 points spike up.The unemployment rate fell to 9 percent from 9.4 percent.

10:30am:--Session double top.Only 36,000 jobs were added to nonfarm payrolls in January, up from a 103,000 gain in December.

11:30am:--After pulling back to find a morning low,index is retracing to the session MAV resistance line.

12:30noon:--The consolidation hour saw the index hoovering near the MAV resistance for the second time.

1:30pm:--A breakout from the resistance line.Tech stocks are taking the leadership.

2:30pm:--Intermittent pullback to bull pivot support.No Federal news so players are bringing it higher.

3:30pm:--A new session high.The latest job report is encouraging the Fed to flush the market with liquidity.

4:00pm:--Closing near the high of the day.Bullish doji star.

A week of bullish run-up inching higher and higher.The ascending flag channel.

Investors focused on strong corporate results and the upshot of a largely disappointing monthly jobs report.

The Fed's quantitative easing is giving a boon to the stock market.