Oil Weidmann-Bundesbank profit will be crimped by reserves

Oil Weidmann-Bundesbank profit will be crimped by reserves BERLIN (Reuters) - The Bundesbank profit turned over to the federal government will be considerably smaller this year than in 2011 due to the risk provisions linked to the euro zone crisis, central bank president Jens Weidmann was quoted telling Der Spiegel. Weidmann said the German central bank had to raise its reserves due to the greater risks and had consulted with its accountants. In 2012 the Bundesbank had a 2.2 billion euro profit and set aside 1.6 billion for risks. 'The distributed profit will be considerably less than last year,' Weidmann said, without providing any specific numbers. Weidmann also said that he had doubts whether European central banks will be able to make a profit on Greek sovereign bonds that euro zone countries are eager to use as part of the latest Greek bailout. 'It's assumed that the central banks will earn a profit from purchasing the bonds. But that is not certain at all. On the contrary, the balance sheet risks have increased. And that affects not only the Greek bonds but also all the extraordinary monetary measures related to the crisis.' (Reporting By Erik Kirschbaum; Editing by Elaine Hardcastle)

Oil FRCN - Stock Moves Over 100%

Oil

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

Earn Few good setups

Earn

Swing Play

pullback play

Swing Play

145 possible target

Swing Play

24.5 possible target.

Swing Play

24 possible target

Stock To watch

Earnings last night.

Oil August 21st Penny Stock Winners, Losers, and Bottom Scan

Oil

Today's Winners and Losers

Today's Bottom Scan

Forex COBI - Chart To Watch at $.001

Forex

The above chart is what COBI looked like when I made it one of my charts to watch for my subscribers at $.001.

This is what COBI's chart looks like after the close today:

Earn All eyes on Fed

Earn

It is Fed interest rate and policy decision day , so nothing much will happen till that time. Market has been anticipating Fed response to slowdown in economy.

Sometime the first reaction to the Fed is a fake out. As most would have seen there are number of studies that show Fed day to be positive day. 

Oil Gold & Copper Trends Are Still Higher: Holmes

Oil If you told me yesterday that the largest bank in the U.S. was going to report lackluster earnings results, and Standard & Poor's was going to take its credit rating clever to Europe, but the markets would largely shrug it off - I probably would have politely told said 'you're crazy!' Welcome to reality; it all happened today. And the little market that could clearly thinks it can still test higher levels and isn't going to let some silly headlines derail it. While JP Morgan (JPM), the big banks (^BKX), and the Euro are getting whacked today, it doesn't change the strategy of money managers like Frank Holmes, the CEO & CIO of US Global Investors, who says the crisis du jour has no bearing on the long term opportunities. 'I am a big believer that you buy gold on down days,' this transplanted Torontonian tells us from his new home in Texas. He believes this year could be 'one of those odd years' that the dollar and commodity prices rise together. And much as Holmes likes gold, he loves the gold miners (GDX) even more, largely because they got sold off alongside other stocks last year while the precious metal they produce rose 10%. 'I think the really big opportunity right now is gold stocks,' he says pointing to their relative price compared to spot gold, as well as their historically low price-to-book ratios, and in some cases dividend yields too. Among the names he likes and owns now are Yamana (AUY), RandGold Resources (GOLD), and lesser-known Franco Nevada (FNV) --which Holmes says pays a monthly dividend. As for the metal itself, Holmes is unmoved by the most recent developments and has had no change in his belief that 'anytime you have inflation running at 3% and you're getting 0.1% in a money market fund, it's always better to own gold.' He is similarly undaunted and unchanged in his conviction about copper and belief that China will successfully engineer a soft landing. He's staying long copper because of the country's plans to build 24,000 miles of high speed rail, and he likes the recent uptick in the JP Morgan Global Purchasing Managers Index, which signaled expansion for the first time in almost a year. 'I think copper will go higher,' he states. 'Just like oil can easily have supply restricted, you have seen copper restricted.' Related Quotes: JPM 35.92 -0.93 -2.52% ^BKX 43.44 -0.17 -0.39% XLF 13.81 -0.11 -0.75% EURUSD=X 1.268 -0.0029 -0.23% FXE 126.33 -1.43 -1.12% ^STOXX50E 2,338.01 -7.84 -0.33% FEZ 29.06 -0.57 -1.92% GCF12.CMX 1,632.40 -14.90 (-0.90%) GLD 159.26 -1.12 -0.70% IAU 15.97 -0.11 -0.68% GDX 54.05 -0.67 -1.22% AUY 15.68 -0.12 -0.76% GOLD 108.83 -2.03 -1.83% FNV 39.90 -0.40 -0.99% FXI 36.74 -0.10 -0.27% HGF12.CMX 3.597 -0.05 (-1.29%) COPX 13.91 -0.12 -0.86% CU 31.45 -0.33 -1.04%