Archive for May, 2010
Canadian economy sees growth of 6.1% in Q1
Statistics Canada announced today that the Canadian economy expanded by an annualised 6.1% in the first three months of 2010.
The figure was slightly better than the 6% analysts had expected and comes after a 4.9% expansion in the final three months of 2009.
The growth has led economists to believe that the Bank of Canada will [...]
Watch Underwater Surgery On Deepwater Right Before Your Eyes
By far these are some of the most arresting images we’ve seen yet. An spinning saw is currently cutting the leaking riser, hoping to create a clean end of people that can be sealed. (via Gregor Macdonald and Paul Kedrosky)
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This Bear Market Is Nowhere Near A “Buying Opportunity,” Says Rosenberg
Some not-so-fun facts from David Rosenberg of Gluskin Sheff:
We went back to the history books and found that at fundamental lows in the S&P 500, whether they be in real bear markets or in severe corrections in a bull market, the index bottoms when it gets 13% below the 50-day moving average and 24% below the 200-day moving average. As of Friday’s close, we are talking about a market that is barely below the 50-day m.a. now and 5% below the 200- day moving averages.
Message — keep your powder dry.
[Note: The chart below from stockcharts.com suggests that Dave has transposed the current numbers: We're about 5% below the 50-day and basically even with the 200-day...]
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See Also:
- JPMorgan: Here’s Three Signs That We’ve Hit The Market Bottom
- Now Everyone Thinks The Market’s Going To Crash
- Is The Recent 10-Year Reversal Also Signaling A Huge Fall In The Market?
Here’s What You Need To Know About The Israeli Flotilla Crisis
This morning, Israel intercepted a flotilla bound for Gaza from Turkey that was, according to the Israeli military, carrying a cache of weapons. Those on the flotilla, who included members of parliaments from the region, claimed they were carrying only aid items for the Palestinians.
- At least 10 people were killed in Israel’s assault on the flotilla. Israel claims 10 of its soldiers were also injured in the attack.
- The flotilla was meant to break the blockade on Gaza, a portion of Palestine ruled by Hamas, a political party but also a terrorist organization.
- The flotilla was attacked in international waters.
- Those on the boat, and those who support their cause, claim that all they were carrying was personnel, many of whom were teachers and doctors, and items to support their aid mission. Supporting video, from Al-Jazeera:
- Israel claims the boat was housing a weapons cache and that individuals on the boat attacked their troops with weapons when they stormed it. Supporting video, from the Israeli Defense Force (IDF):
- Protests against the actions of the Israeli government have broken out in London, Cairo, and Istanbul.
- Governments in Europe have spoken out against the attacks, with President Sarkozy of France and Foreign Minister Hague of the UK calling Israel’s actions “out of line.”
- Israeli PM Benjamin Netanyahu has canceled his trip to the U.S. as a result of the attack, choosing to remain in Israel to deal with the problem.
- This is likely a massive political misstep for Israel, as tensions with the U.S. government were just beginning to dissolve, and now are likely to remain high.
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