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UPS Fears $3.8 Billion Liability Over Bankrupt Central States Pension Plan
In 2007, UPS dumped its pensioners into the Central States Pension Fund, a fund now destined for bankruptcy. As part of the collective bargaining agreement, UPS agreed to pick up future payments if benefits are cut. That provision may cost UPS $3.8 billion or more. Let’s backtrack and fill in some details. In December, the Central States Pension Fund informed the US Treasury department that the fund would run out of money in 10 years at the current rate of $3.46 in pension benefits for every $1 it receives from employers. The plan proposed pension cuts of up to 60%. Also in December, UPS Called For Denial of the Rescue Plan. UPS got it wis... -
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General Boy – Market Update
Based upon what’s happened lately with markets growing higher, I thought it would be a good time to cover this as a general update. Video Length – 00:07:43... -
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Another Big-Time Short Squeeze Boosts Markets
Explanations for Tuesday’s market rip higher are initially hard to explain. The Philly Fed President Harker stated late Monday he expected two to three interest rate hikes in 2016. The theme had been, if so, this wouldn’t be bullish for markets. Meanwhile other regional Fed governors, Boston, New York, Chicago, Minneapolis, Dallas, Philadelphia, Atlanta and St Louis recommended keeping the discount rate unchanged. But with expectations increasing for higher rates the dollar moved higher on weaker expectations from Europe and Japan. This action drove down gold and other commodities but not crude oil which rose on declining rig data. Let... -
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Semiconductors Pull Indices Along
A big day for Semiconductor Indices has finally boosted other indices. Semiconductors finished above March/April highs on new near term highs in relative performance. It has been a big week for this index and this could set a positive tone for the rest of the summer. The Nasdaq broke out from consolidation, safely clearing converged 20-day and 50-day MAs. This is setting up nicely for a challenge of 4969, and could easily go on to challenge 2015 highs. Technicals delivered a positive MACD trigger ‘buy’ and ADX ‘buy’. The Russell 2000 made a clean break of the downward channel and now finds itself up against former ri... -
Finance 0
UGI Corporation – Chart Of The Day
The Chart of the Day belongs to UGI Corp (NYSE: UGI). I found the utility distribution stock by using Barchart to sort today’s All Time High list first for the most frequent new highs in the last month, then again for technical buy signals of 80% or more. Then I always use the Flipchart feature to review he charts for consistency. Since the Trend spotter signaled a buy on 5/9 the stock gained 4.94%. UGI Corporation is a holding company that operates propane distribution, gas and electric utility, energy marketing and related businesses through subsidiaries. Our majority-owned subsidiary, AmeriGas Partners, L.P., a Delaware limite... -
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Inappropriate Short Setups
I feel like this post is entirely inappropriate considering the current state of the market today, where it happens to be rallying in a manner no one foresaw at the close yesterday. Even so, we’ve seen how many reversals this market has experienced the following day, and if tomorrow doesn’t follow through on today’s gains, we may be setting up for the same thing again. So don’t count the bears out quite yet, all the while it should be acknowledged that the bulls delivered a game-changing blow to the bears today. Here’s the short setups…just in case:... -
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E Large Cap Best & Worst Report – May 24, 2016
The best large cap sectors are utilities and healthcare. The highest scoring large cap industry is insurance brokers. The average large cap score is 57.77. For comparison, the rolling four week average score across large cap is 58.77. The average large cap stock in our universe is trading -18.66% below its 52 week high, 2.09% above its 200 dma, has 4.43 days to cover short, and is expected to grow EPS by 13.9% in the next year. Utilities and healthcare score best (healthcare continues to recover ground since popping back above average on May 10). Industrial goods, basics, and technology also score above average. Consumer goods, services, and ... -
Finance 0
Oil & Gas Stock Roundup: FMC Tech To Merge With Technip, Chevron Aims To Restart Gorgon
It was a week where oil prices marked its highest settlement in seven months but natural gas futures ended lower. On the news front, oilfield service providers FMC Technologies Inc. (FTI – Analyst Report) and Technip SA have agreed to merge in an all-stock deal worth $13 billion, while Chevron Corp. (CVX – Analyst Report) hopes to resume its Gorgon LNG operations soon. Overall, it was a mixed week for the sector. While West Texas Intermediate (WTI) crude futures gained 3.3% to close at $47.75 per barrel, natural gas prices fell 1.6% to $2.062 per million Btu (MMBtu). (See the last ‘Oil & Gas Stock Roundup’ here:She... -
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Brexit? How About Grexit?
The debate over whether the UK should/will leave the European Union continues. The same question should be asked about Greece leaving the Eurozone. Remember Greece? That was the country that encountered some economic turbulence right after the global depression resulting from the US bank collapse in late 2008. It the reason the Eurozone has not yet recovered (current overall unemployment rate of 10%) to this day. The Eurozone was a bad idea. It forced countries with quite different cultures to play by the same economic rules. It meant that if Italy and Greece were not as productive as Germany, they would end up running large balance of paymen... -
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Crude Oil Prices May Be Topping, Gold Momentum Ebbing
Talking Points: Crude oil prices may turn lower after testing $49/bbl figure Gold prices edging lower but momentum seems to be fading Eurozone Flash PMI data, Fed officials’ comments in focus Commodities remain at the mercy of evolving macro-level narratives. A broad-based slowdown in global economic activity is one such theme. An anti-climactic conclusion to a meeting of G7 finance ministers and central bank governors in Sendai, Japan over the weekend will see the spotlight shift to Eurozone PMI data. This is expected to show the pace of regional manufacturing- and service-sector growth hit a four-month high in May, which may boost se...
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