Earn Etisalat eyes mobile remittances in Gulf

Earn Etisalat eyes mobile remittances in Gulf Companies: AFN RELATED QUOTES Symbol Price Change AFN 0.00 0.00 Related Content A man walks past a sign at the headquarters of telecommunications company Etisalat in Dubai October 25, 2011. REUTERS/Jumana El HelouehView Photo A man walks past a sign at the headquarters of telecommunications company Etisalat in Dubai October 25, 2011. REUTERS/Jumana El Heloueh By Matt Smith DUBAI (Reuters) - UAE telecoms operator Etisalat (ABD:ETISALAT), which saw $1.8 billion moved over its network last year via money transfers, has sought regulatory approval to expand its financial services offerings in the Gulf region, home to millions of expatriates. Mobile money services allow customers to pay bills or make remittances using SMS text messages, often at a cheaper cost than through banks or money transfer firms. 'Remittances are a huge business opportunity,' George Held, director of products and services at Etisalat, told Reuters. 'The cost base for telecoms operators is much different than for banks and exchange houses. We do not need bricks and mortar branches, so our costs are lower and we can pass on this saving and offer better exchange rates and transaction fees.' The former monopoly was expected to focus on its home market and Saudi Arabia. Both countries have large expat populations and inbound annual remittances were worth about $36 billion combined in 2010, Held said. About 89 percent of the UAE's 8.3 million population are expatriates, while in Saudi Arabia just over a fifth of the 27 million population are foreigners. Etisalat's Egypt unit could also profit from an estimated $8 billion of inbound remittances from Egyptians working abroad. Etisalat has tied up with Western Union and MoneyGram International to allow money sent by mobile customers in the Middle East to be collected anywhere in the world. Aside from remittances, the operator hopes to offer salary payments, peer-to-peer domestic funds transfers and utility and shop payments. 'Remittances will be an extremely important part of our mobile money services. But it is not enough alone to drive service adoption, so we will offer a mix of services to make it very hard for customers not to get involved,' said Held. Etisalat already offers some of these services in six countries, including Afghanistan, Pakistan, Sri Lanka and Tanzania and plans to expand this to the 17 countries in which it operates in Asia, Africa and the Middle East. 'We want to introduce mobile money in the rest of our markets as soon as possible. It is not a technical issue, but ticking all the boxes from a regulatory, compliance and customer education point of view,' Held said. LESS MONEY, MORE LOYALTY Mobile money has taken off in parts of Africa, where a minority of people hold bank accounts and the banking infrastructure in rural areas remains limited. About 8 percent of Tanzania's gross domestic product is thought to go through mobile banking. Text-based financial services will not help stem a decline in global SMS revenues - seen dropping up to 40 percent over the next three years as users opt for alternative text services such as BlackBerry Messenger or WhatsApp - but it can improve customer loyalty. 'When people have a mobile wallet ... we believe they will stay with us for a long time,' Held said. 'When was the last time you changed your bank account?' Etisalat will face challenges in convincing customers in the Gulf region, who have easy access to banking and exchange houses, to switch. 'In this region, people are used to going to the bank for transactions - they like to get a receipt. It is not a game-changer for telecom operators' revenues,' said a regional telecoms analyst. Pedro Oliveira, partner at consultant Oliver Wyman, said telecoms operators face a tough task competing with conventional exchange houses. 'Low income workers in the Gulf count every penny. So, it is not convenience that matters, but cost,' he said. 'For expats with prepaid contracts wanting to send money home, they would have to buy prepaid cards to top up their phone balance and then send a text.'

Oil Stocks' correction coming? Not that again

Oil Stocks' correction coming? Not that again Companies: NDX Apple Inc. RELATED QUOTES Symbol Price Change NDX 0.00 0.00 AAPL 585.57 +0.01 Related Content A trader in the S&P 500 options pit at the Chicago Board of Trade looks at an order board shortly after the Federal Reserve's decision to leave short-term interest rates untouched between zero and 0.25 percent in Chicago, January 25, 2012. REUTERS/Frank PolichView Photo A trader in the S&P 500 options pit at the Chicago Board of Trade looks at an order board shortly after the Federal Reserve's decision to leave short-term interest rates untouched between zero and 0.25 percent in Chicago, January 25, 2012. REUTERS/Frank Polich By Angela Moon NEW YORK (Reuters) - Investors are beginning to wonder if this 'Energizer Bunny' of a rally can just keep going without taking a break or a fall. Every Friday for the past couple of months, the question has hung in the back of investors' minds: Is the stock market's rally strong enough to continue without a correction? Even with the S&P 500 above levels unseen since before the financial crisis, the answer remains: Yes. The broad market index broke through 1,400 -- a psychologically important level -- for the first time in four years last week. On Friday, the S&P 500 closed at 1,404.17, its highest since May 20, 2008. At Friday's close, the index was up for nine out of the past 10 weeks. The rally has taken the Nasdaq up to a 12-year recovery high, while it lifted the Dow (DJI:DJI) comfortably above 13,000 to its highest level since December 2007. 'We are seeing this unbelievable rally in the market and yet the market is unbelievably complacent. We haven't been this bullish for a long time,' said Randy Frederick, director of trading and derivatives at the Schwab Center for Financial Research, based in Austin, Texas. Indeed, the CBOE Volatility Index or VIX (MXP:VIX), Wall Street's fear gauge, plunged to a five-year low despite the S&P 500's stunning gain of 12 percent for the year so far. The VIX measures the expected volatility in the S&P 500 index over the next 30 days and generally moves in the opposite direction of the broad market. Investors often use VIX options and futures as a hedge against a market decline. Frederick said the only concern is the wide spread between second- and third-month VIX futures, suggesting a rise in volatility in the longer term. But the front-month futures that expire this week have come down to levels near the spot VIX. The VIX fell 6.2 percent on Friday to end at 14.47, its lowest close since June 2007. 'I would like to see the VIX around 17 just because it tends to have a significant pop when there is bad news at current levels,' Frederick said, adding that 'frankly' there isn't that much negative news out there. STRENGTH IN MIDCAPS Further evidence of the market's bullish sentiment: The S&P 400 Midcap Index <.MID> has popped above the 1,000 mark, an area of strong resistance since last year, according to Ryan Detrick, a senior technical strategist with Schaeffer's Investment Research, in Cincinnati. 'It's a big area of resistance, but we have moved above this. If we manage to stay here, then the strength in the overall market will advance further,' Detrick said. 'Historically, April has been a strong month so we can even see the market going up to 1,440, which is the high made in May 2008,' he added. TRACKING THE BIG APPLE The direction of Apple shares (NSQ:AAPL - News) will also be in focus this week after the stock hit the $600 mark for the first time in history last week, only about a month after it topped 500. Apple currently accounts for about 18 percent of the Nasdaq 100 stock index (NAS:NDX - News). Its weighting was cut to 12.3 percent from 20.5 percent last April, but the price surge has pushed the stock's weighting back up, making this index of 100 well-known companies hostage to the performance of a few technology titans like Apple. With Apple's heavy weighting, investors are questioning whether the broad market can continue to rally even with a pullback in Apple shares. The Nasdaq Composite Index (NAS:COMP), the barometer of tech stocks, closed on Friday at 3,055.26 -- its highest close since November 2000. 'It's a name that a lot of people have exposure to so it definitely has an impact on indexes, but it seems even without Apple, the money gets put to work in other sectors and stocks,' Detrick said. While the VIX has been sliding, the expected volatility in Apple has increased, judging by a VIX index that tracks Apple options. Apple, like IBM and other bellwether names, has its own VIX index. The CBOE Apple VIX index <.VXAPL>, which measures the expected 30-day volatility of the underlying shares of Apple, jumped 35 percent last week, suggesting more gyrations ahead as more investors speculate on short-term moves.

Earn URA had good breakout

Earn

.11% move in the market tells you the story. Nasdaq and Russell were better performing indexes. Overall it is a consolidation near high after a choppy move higher.




The Uranium ETF had a good breakout. It has been down for many month after the Japanese disaster. This might be possible start of bottoming process. 

Earn Student Loan Crisis Looms: FICO Risk Survey

Earn Daily Ticker Despite recent headlines cheering positive trends in the economy, there is still much to be concerned about, according to FICO's new quarterly survey of bank risk professionals. More than two-thirds of risk managers are seriously concerned about the debt loads held by students in the country. 67% of respondents believe delinquencies of student loans will rise, up a considerable 19% from the previous survey. 'They are worried about the amount of student loans that are out there and the ability of those students to repay them,' says Mark Greene, CEO of FICO, which provides credit scores used by both consumers and creditors and is widely considered the industry standard. With tuition prices on the rise each and every year, it is no surprise that the total amount borrowed is also on the upswing. The student who graduated in the class of 2009 had an average of $24,000 in student loans. But that's just the average. Some students are accountable for sums totaling $100,000. (See: The Economic Agony of Today's Twenty-Somethings) The Federal Reserve reported last year that student debt has actually surpassed credit card debt and predicts the total amount owed has topped $1 trillion. Greene's advice to students is: 'Be careful what you borrow.' 'Clearly education has a great return on investment so there is no suggestion you should avoid taking out loans, but be careful what you are getting into,' he says. 'Manage your student loans as carefully as you would your mortgage, your credit card or something else.' Other problem areas listed in the survey include credit card debt and mortgage debt. Credit card debt increased 8.5% to $5.6 billion in November from October, the biggest gain since March 2008. 45% of risk managers surveyed expect credit card delinquencies to rise while 21% expect a decline. And 54% of respondents believe credit card balances will rise. Those figures are more pessimistic than the previous quarter. As for mortgage debt, 47% of risk managers predict mortgage delinquencies will rise while 13% expect to see a decrease. 'If you are looking for risk managers to declare that we've turned the corner, they are not declaring that yet,' says Greene. Do you think the economy is improving or still has a long way to go? More from The Daily Ticker: Forget Harvard and a 4-Year Degree, You Can Make More as a Plumber in the Long Run, Says Prof. Kotlikoff Brain Drain: Most College Students Learn Next to Nothing, New Study Says Jame's Altucher's 8 Alternatives to College Related Quotes: ^GSPC 1,292.18 -0.30 -0.02% BAC 6.76 -0.11 -1.60% C 31.36 +0.09 +0.29% GS 98.96 -0.80 -0.80% JPM 36.44 -0.22 -0.60% WFC 29.54 -0.08 -0.29% PNC 61.51 +0.21 +0.34% FAZ 31.80 +0.23 +0.72% FAS 75.30 -0.53 -0.70% XLF 13.83 -0.04 -0.26% ^DJI 12,432.54 -16.91 -0.14% DFS 26.16 +0.30 +1.16% V 100.99 +1.88 +1.90% MA 342.76 +1.29 +0.38% MS 16.92 -0.18 -1.05%

Signals Stuck in the mud

Signals

Stuck in the mud is the current stage of market.

Every time it tries to rally it gets pulled back in range. Every time it attempts breakdown , it gets pulled back in range.

The breadth on either up or down attempt is also low. So no major breadth thrusts on either side.

The large cap stocks are holding up well compared to the small cap stocks.

The Fed day did not produce any spark. The ECB also opted for no change in policy.

The market needs a catalyst for big move in either direction. Till then stuck in mud.

Forex Is the Euro Decoupling From U.S. Stocks?

Forex Is the Euro Decoupling From U.S. Stocks? Companies: EUR/USD S&P 500 NASDAQ Composite RELATED QUOTES Symbol Price Change EURUSD=X 1.2832 +0.0123 ^GSPC 1,291.87 -0.61 ^IXIC 2,715.73 +4.97 ^DJI 12,432.35 -17.10 FXE 127.78 +1.22 For much of the last 15 years the S&P 500 and euro (the EU currency) have been moving in the same direction. Since its May 4, 2011 high (the euro topped two days after U.S. stocks) the euro has tumbled 15%. Worse yet, the euro has been falling over the past few weeks even though the S&P has remained stable. Will the S&P soon catch up with the euro, or is the euro about to decouple its positive correlation with U.S. equities? Euro Problems Euro problems are the reason for the bad euro season. U.S. stocks got to enjoy the Santa Claus Rally while the euro was stuck with debt concerns that include: - Eurozone governments need to refinance more than $1.3 trillion in debt in 2012. - Yields on Italian bonds crept up about 7% again (above 7% yields send Greece into a tailspin). - Standard & Poor's is expected to strip France of its AAA rating as early as this month. - Spain's banks need to raise an extra $65 billion to cover bad property loans. - In February, Italy needs to sell more debt than could be covered even if investors used all the proceeds of maturing securities to buy the bonds. Euro Hope Things are so bad for the euro (EURUSD=X), they are good. So it seems at least. The chart below shows the euro holdings of the 'smart' and 'dumb' money published by the Commodity Futures Trading Commission. The first gray graph shows total non-reportable short positions. Non-reportable are small traders considered the dumb money. The second gray graph shows reportable commercial short positions. Commercial traders are the 'pros' that actually provide a commodity or instrument and are considered the smart money. The data shows that non-reportable short positions are pretty high right now (data as of Tuesday) while commercial traders have closed nearly all their short positions. Based on COT sentiment data, the euro should be close to a bottom, at least a temporary one. Cause for U.S. Stock Rally? But wouldn't a rising euro translate into rising U.S. stocks? Under normal circumstances, yes it would. A look at the chart below shows that a rising euro usually correlates with a rising S&P 500. The red boxes highlight periods of falling euro and rising S&P (such as lately). The green box identifies a period of time when a rising euro (NYSEArca: FXE - News) coincided with falling (even rapidly falling) U.S. stock prices. This happened from October 2007 - July 2008. Putting Odds in Your Favor It's no secret that I declared the rally from the October lows to be a counter trend rally. Back on October 2, I stated via the ETF Profit Strategy updated that: 'I don't think October will 'kill' this bear market, but it should spur a powerful counter trend rally. Towards the end of this rally Wall Street may applaud the Fed for launching Operation Twist and QE3 may be considered unnecessary. This kind of positive environment would be fertile soil for the next bear market leg (Q1 or Q2 2012). From a technical point of view this counter trend rally should end somewhere around 1,275 - 1,300.' To identify high-probability trade setups, I like to see technicals, sentiment, and seasonality point in the same direction, such as they did in early October. From a seasonal perspective, October has the reputation of a 'bear market killer.' Sentiment polls showed the most bearish readings in over a year and the VIX (Chicago Options: ^VIX) was close to the 2010 high. At the same time, the S&P had reached rock bottom support. Based on the weight of evidence, the October 2 ETF Profit Strategy update also predicted that: 'The ideal market bottom would see the S&P dip below 1,088 intraday followed by a strong recovery and a close above 1,088.' On October 4, the S&P briefly dipped below 1,088 and closed the day at 1,124. A massive counter trend rally was born that day. The Next Setup? Seasonality is once again turning bearish (or at the very least less bullish). Since 2002, the S&P reached a January top followed by a drop greater than 8% five (out of ten) times. 51.1% of all investment advisors and newsletter-writing colleagues (polled by II) are bullish on stocks (the highest reading since May 3) while only 17% of individual investors (polled by AAII) are bearish, the second lowest reading in six years. From a technical point of view, the S&P (SNP: ^GSPC - News) is about to reach a daunting resistance cluster comprised of Fibonacci levels and various long and short-term trend lines. The Dow (DJI: ^DJI - News) is about to encounter two trend lines that go back nearly five years. The resistance clusters for the Nasdaq (Nasdaq: ^IXIC - News), Russell 2000 (NYSEArca: IJR - News), and financials (NYSEArca: XLF - News) are not as glaring but they're there. The only thing that doesn't quite fit into the equation is the euro's sentiment data illustrated above. Nevertheless, the weight of evidence suggests that a turnaround for stocks, and possibly another significant market top, may be just around the corner. The high probability strategy is to short U.S. stocks as soon as the resistance cluster is reached or support is broken. The ETF Profit Strategy Newsletter identifies the target of this rally along with a short, mid and long-term outlook and the corresponding ETF profit strategies.

Signals Swing Trade Idea: RGLD

Signals

RGLD offers good swing trade potential. Stock is breaking out of small consolidation. 4 to 5 dollar potential from here

Earn Mexico says G20 to look at smoothing capital flows

Earn Mexico says G20 to look at smoothing capital flows Mexican Finance Minister Jose Antonio Meade speaks during an interview with Reuters in Mexico City February 14, 2012. REUTERS/Henry RomeroView Photo Mexican Finance Minister Jose Antonio Meade speaks during an interview with Reuters in Mexico City February 14, 2012. REUTERS/Henry Romero MONTEVIDEO (Reuters) - Mexico will include possible steps to blunt the impact of sharp capital flows on the Group of 20's policy agenda after discussions with Latin American neighbors, Finance Minister Jose Antonio Meade said on Sunday. Mexico, which holds the G20's rotating presidency this year, hosted a seminar about G20 priorities on the sidelines of meetings of Inter-American Development Bank. The bloc's only Latin American members are Brazil, Mexico and Argentina. Meade said via his Twitter account that suggestions from the region would help to enrich the work of the G20, including a push to ease the impact of capital inflows and outflows and tools to administer flows better. One suggestion Mexico would take on board was to 'develop a better capacity to absorb financial flows in domestic financial systems,' he said. Many delegates at the IADB meeting have expressed concern about a recent move toward protectionism, particularly by Brazil, which last week pushed Mexico to curb auto exports over the next three years to boost its industrial sector, hit by an appreciating currency. Brazil blames loose monetary policy in developed economies for the foreign cash flows that have pushed up the real and unleashed a flood of cheap imports, hurting the competitiveness of Brazilian industries. Officials present at the Montevideo meeting said Uruguay, Paraguay and other countries had pushed for Mexico to make sure the G20 addressed currencies and trade barriers. 'Mexico was asked to raise issues of protectionism, exchange rates and capital flows,' Paraguay Economy Minister Dionisio Borda said. Meade told Reuters the G20 remained committed to combating protectionism and there was no intention to change this. 'In every G20 meeting what we have done is reconfirm the promise to combat protectionism, recognizing that this is a measure which does not contribute to global growth,' he said. In the G20 leaders' November communiqué, the group said multilateral trade was important as a way to avoid protectionism and called for more exchange rate flexibility. Protectionism and capital flows were not specifically mentioned in the communiqué following the G20 finance ministers' meeting in Mexico City in March, but Mexico has said one of its G20 priorities is economic stabilization. (Reporting by Krista Hughes and Guido Nejamkis; Editing by Maureen Bavdek)

Oil Slow start so far

Oil

It is a slow day so far with very few breakouts as of now. Some small biotechs and financial stocks are attracting buying as of now. RPRX, AFFY, GS, and C are some of the better breakouts as of now.









On the downside WM, EPAM and KLIC are some of the notable breakdowns.

Earn SEC probes exchanges and electronic trading firms ties

Earn SEC probes exchanges and electronic trading firms ties (Reuters) - The U.S. Securities and Exchange Commission has launched a probe into the ties between stock exchanges and certain electronic trading firms, the Wall Street Journal reported on Saturday, citing people familiar with the matter. BATS Global Markets Inc, a U.S. exchange operator that is planning an initial public offering, said in a government filing cited by the Journal that it got a request from the U.S. regulator's enforcement division for information on the use of order types and its communications with certain market participants. The SEC also asked BATS for details about its information technology systems and trading strategies, the filing said. The inquiry also was examining communications BATS has with certain members affiliated with certain stockholders and directors, the paper reported. (Reporting By Debra Sherman in Chicago; Editing by Eric Beech)

Forex Big stocks on the move

Forex

Large cap stocks are showing good action. Besides AAPL, GOOG was another big mover yesterday. AMZN may be setting up for breakout.

Signals Japan sees upward pressure on yen waning

Signals Japan sees upward pressure on yen waning Foreign exchange dealers are seen beneath an electronic board displaying the Japanese Yen's exchange rate against the U.S. dollar at a foreign exchange trading company in Tokyo February 22, 2012. REUTERS/Kim Kyung-HoonEnlarge Photo Foreign exchange dealers are seen beneath an electronic board displaying the Japanese Yen's exchange rate against the U.S. dollar at a foreign exchange trading company in Tokyo February 22, 2012. REUTERS/Kim Kyung-Hoon By Tetsushi Kajimoto MEXICO CITY (Reuters) - A senior Japanese Finance Ministry official said the upward pressure on the yen was easing and he saw nothing strange in the currency's movements as it pulls away from record highs below 80 yen versus the dollar. The official, speaking after the first day of the weekend gathering of Group of 20 finance ministers and central bankers, said the yen was not discussed at the meeting which was dominated by talks on the euro-zone sovereign debt crisis. But the G20 did discuss volatility in currencies as well as crude oil prices, the official said, adding that these issues may be mentioned in the communique expected at the end of the meeting on Sunday. Brent crude futures settled near a 10-month high above $125 a barrel on Friday on heightened concerns over tensions with Iran about its nuclear program. Japanese authorities will continue to respond to excess volatility in currencies, he added, signaling readiness to intervene if speculators push up the yen too high again to deal a blow to the export-reliant economy. 'We hear opinions overall, including at deputies' meeting, that volatility exists in the foreign exchange market, so I expect (G20) may mention that volatility warants close monitoring,' the official said. 'We have said that (the yen's) moves have been excessive including before and after (last year's) earthquake, which was not reflecting economic fundamentals. But I see nothing strange in the current movement,' he added. The yen, meanwhile, tumbled across the board, a downtrend that started with the Bank of Japan's recent monetary easing. Japan's trade deficit, widening interest rate differentials with the United States favoring the dollar and rising crude oil prices also have hurt the yen's prospects. The dollar hit a fresh 7-1/2-month high of 81.062 yen on trading platform EBS and was last 80.990, away from 75.31 yen hit last October when Japan intervened heavily to protect exporters and drew criticism from the United States. The Bank of Japan, along with the European Central Bank and the U.S. Federal Reserve, is taking unconventional steps to boost the economy. The BOJ boosted asset purchases by 10 trillion yen on February 14 and pledged to keep ultra-easy policy until a 1 percent inflation goal is in sight. Bank of Japan Governor Masaaki Shirakawa said on Saturday that policymakers were also closely watching the effects of monetary easing on crude prices. But he said he did not see monetary easing as a big factor and the recent spike was more due to geopolitical tensions and some bright spots in advanced economies after the New Year. 'Generally speaking, we'll closely watch effects and side-effects of monetary easing,' he said. (Additional writing by Krista Hughes; Editing by Ed Lane)

Signals FRCN - Stock Moves Over 100%

Signals

I made FRCN a chart to watch and posted about it earlier stating I liked it for a bottom trade:  http://pennystockgurus.blogspot.com/2012/06/frcn-bottom-trade.html

BEFORE:

AFTER

Signals SAGD - Chart Looks Promising

Signals

Even with SAGD's 80%+ gain today, I think the stock has more room to rally.  With continued buying pressire the stock should break $.01 tomorrow and head into the weekend with some strong momentum.


South American Gold Expands Baltimore Silver Project
RICHMOND, IN, Aug 23, 2012 (MARKETWIRE via COMTEX) -- South American Gold (OTCQB: SAGD) is pleased to announce it has acquired two unpatented mining claims which expands its Baltimore Silver Mine project by forty acres.

The Baltimore Silver Mine is a former producing silver mine in a historic mining district located on private land in Jefferson County, Montana, at an elevation of approximately five thousand eight hundred feet above sea level. The company has signed a memorandum of Understanding to lease the mine with an option to purchase. The new unpatented mining claims acquired expand the project to a total of approximately one hundred acres, and an existing tunnel is on the property which will need rehabilitation.

--  The additional mining claims have been untested by modern drilling
    methods and technology, thus are considered an early-stage exploration
    prospect. Parallel structures have been identified to the south of the
    Baltimore Mine area according to initial evaluation.
--  Our initial exploration objective is to determine whether veins from
    the Baltimore Mine extend onto the newly-acquired claims.

Our recent site visit resulted in our consulting geologist identifying these unpatented mining claims for acquisition by location, and we have identified dumps from prior production activities that we intend to sample. For more information please consult our recently filed 8k on the project.

About South American Gold:

South American Gold Corp (OTCQB: SAGD) is an exploration mining company focused on the discovery, acquisition, exploration and development of gold and silver deposits in North and South America. Our strategy is to acquire a pipeline of mining prospects in historic mining districts to explore, develop or joint venture, with an objective of establishing commercial production. The company in the last ten months has acquired mining prospects in Arizona, Nevada, and Montana; and continues to consider projects in Colombia, Mexico and Southeastern Europe.

We have fewer than 80 million shares issued and outstanding, of which 2.5 million shares are held by current officers and directors.

Disclaimer

This release contains forward-looking statements that are based on beliefs of South American Gold Corp. management and reflect South American Gold Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release, the words 'estimate,' 'project,' 'believe,' 'anticipate,' 'intend,' 'expect,' 'plan,' 'predict,' 'may,' 'should,' 'will,' 'can,' the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of South American Gold Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, South American Gold Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release incorporates by reference the Company's filings with the SEC including 10k, 10Q, 8K reports and other filings. Investors are encouraged to review all filings. The company has limited financial capability to implement its business plan. The Baltimore Mine information is based on historic information, and the company has not conducted a preliminary economic assessment, nor has determined the costs of rehabilitation to gain access to historic production areas. There is no assurance of an economic deposit on the property, nor the capital required to be available for drilling, rehabilitation and infrastructure construction.

Investor Inquiries: 

1-765-356-9726
1-765-356-9737 (FAX)

Web Site: www.sagoldcorp.com

Email: info@sagoldcorp.com 

SOURCE: South American Gold

Signals Stock likely to breakout

Signals

HSY, EW, DVA, TVL, AOL, and  IPGP are currently setting up for a possible breakout. All these stocks have excellent momentum currently and are going sideways or pulling back and offer buy opportunity on high volume breakouts. 

Oil August 23rd Penny Stock Winners, Losers, and Bottom Scan

Oil

Today's Winners and Losers

Today's Bottom Scan

Forex Obama seeks power to merge agencies

Forex WASHINGTON (AP) -- President Barack Obama on Friday took aim at his government's own messy bureaucracy, prodding Congress to give him greater power to merge agencies and promising he would start by collapsing six major economic departments into one. Pressing Republicans on one of their own political issues, Obama said it was time for an 'effective, lean government.' Obama wants the type of reorganizational authority last held by a president when Ronald Reagan was in office. Obama's version would be a so-called consolidation authority allowing him to propose only mergers that promise to save money and shrink government. The deal would help Obama considerably by entitling him to an up-or-down vote from Congress in 90 days. Still, final say would remain with lawmakers, both on whether to grant Obama this fast-track authority and then in deciding whether to approve any of his specific ideas. 'We can do this better,' Obama declared in an event with business owners at the White House, even presenting slides to help make his case. 'So much of the argument out there all the time is up at 40,000 feet, these abstract arguments about who's conservative or who's liberal,' Obama said. 'Most Americans — and certainly most small business owners — you guys are just trying to figure out how do we make things work, how do we apply common sense. And that's what this is about.' In an election year and a political atmosphere of tighter spending, Obama's move is about more than improving a giant bureaucracy. He is attempting to directly counter Republican arguments that he has presided over the kind of government regulation, spending and debt that can undermine the economy — a dominant theme of the emerging presidential campaign. Republicans have often aligned themselves with smaller government. So politically, Obama is trying to put the onus on Republicans in the House and Senate to show why they would be against the pursuit of leaner government. From Capitol Hill, a spokesman for Sen. Mitch McConnell of Kentucky, the top Republican in the Senate, pledged Obama's plan would get a careful review. But the spokesman, Don Stewart, also said: 'After presiding over one of the largest expansions of government in history, and a year after raising the issue in his last State of the Union, it's interesting to see the president finally acknowledge that Washington is out of control.' Obama has an imperative to deliver. He made the promise to come up with a smart reorganization of the government in his last State of the Union speech last January. At the time, Obama grabbed attention by pointing out the absurdity of government inefficiency. In what he called his favorite example, Obama said: 'The Interior Department is in charge of salmon while they're in fresh water, but the Commerce Department handles them when they're in saltwater. And I hear it gets even more complicated once they're smoked.' The White House said the problem is serious for consumers who turn to their government for help and often do not know where to begin. Not in decades has the government undergone a sustained reorganization of itself. Presidents have tried from time to time, but each part of the bureaucracy has its own defenders inside and outside the government, which can make merger ideas politically impossible. That's particularly true because 'efficiency' is often another way of saying people will lose their jobs. Obama hopes to enhance his chances by getting Congress to give him the assurance of a clean, relatively speedy vote on any of his proposals. There is no clear sign that Obama would get that cooperation. He spent much of 2011 in utter gridlock with Republicans in Congress. In the meantime, Obama announced Friday that Karen Mills, the administrator of the Small Business Administration, would be elevated to Cabinet-level rank. But her job would essentially disappear if Obama has his way. If he gets the new fast-track power to propose legislation, Obama's first project would be to combine six major operations of the government that focus on business and trade. They are: the Commerce Department's core business and trade functions; the Small Business Administration; the Office of the U.S. Trade Representative; the Export-Import Bank; the Overseas Private Investment Corporation; and the Trade and Development Agency. The goal would be one agency designed to help businesses thrive. The White House says 1,000 to 2,000 jobs would be cut, but the administration would do so through attrition; that is, as people routinely leave their jobs over time. The administration said the merger would save $3 billion over 10 years by getting rid of duplicative overhead costs, human resources divisions and programs. The name and potential secretary of the new agency have not been determined. The point, the White House says, is not just making the government smaller but better by saving people time and eliminating bureaucratic nightmares. The idea for the consolidated business agency grew out of discussions with hundreds of business leaders and agency heads over the last several months. Brendan Buck, a spokesman for House Speaker John Boehner, R-Ohio, said streamlining government was always a potentially good idea but expressed wariness about whether Obama's plan would really help business. 'American small businesses are more concerned about this administration's policies than from which building in Washington they originate,' Buck said. 'We hope the president isn't simply proposing new packaging for the same burdensome approach.' According to the White House, presidents held such a reorganizational authority for about 50 years until it ran out during Reagan's presidency in 1984. Obama has a series of other ideas about consolidating departments across the government, to be rolled out later.