Monday, November 22, 2010
Interview with Ted Butler: The End of Silver Price Manipulation
2010 has been an exceptional year for silver. The price has increased over 50% to-date, and the CFTC (the US commodity regulatory body) issued a statement last month admitting that the market price of silver may have been (and still may be) fraudulently manipulated. An investigation is underway. (more)
1. Peripheral euro zone issuers remain vulnerable to a further sell-off as Ireland keeps financial markets guessing over whether and when it will seal an aid deal with the European Union and IMF. While some sort of assistance is widely expected, the crisis is unlikely to be over. Fellow weakling Portugal is already bearing the brunt of fallout from Ireland's problems and its borrowing costs have jumped in recent weeks with some bond market vigilantes seeing it as the euro zone's next weakest link.
Among pointers to the next phase of the crisis, Ireland holds a by-election, which some of Dublin's critics partly blame for its game of brinkmanship with the European Union, on Thursday, November 25, and the Portuguese government is scheduled to pass the 2011 budget the following day.
2. The latest euro zone sovereign debt crisis, triggered by Ireland's shaky banking sector, is threatening to halt the normalization in euro zone money markets where banks have been weaning themselves off the European Central Bank's support measures. (more)
Options traders seem to think these corporate giants have some near-term upside. What do you think? Full analysis below. Options data is sourced from Schaeffer's.
The list has been sorted by the Put/Call ratio.
1. Nippon Telegraph & Telephone Corp. (NTT): Telecom Services Industry. Market cap of $61.0B. Call open interest at 7,235 contracts versus put open interest at 368 contracts (Put/Call ratio at 0.05). Short float at 0.03%, which implies a short ratio of 1.93 days. The stock has gained 9.87% over the last year.
2. Alcon Inc. (ACL): Medical Instruments & Supplies Industry. Market cap of $49.86B. Call open interest at 160,252 contracts versus put open interest at 54,778 contracts (Put/Call ratio at 0.34). Short float at 2.04%, which implies a short ratio of 1.93 days. The stock has gained 13.73% over the last year.
3. Mitsubishi UFJ Financial Group, Inc. (MTU): Banking Industry. Market cap of $69.93B. Call open interest at 2,691 contracts versus put open interest at 988 contracts (Put/Call ratio at 0.37). Short float at 0.03%, which implies a short ratio of 1.54 days. The stock has lost -7.65% over the last year. (more)
|Date||Time (ET)||Statistic||For||Actual||Briefing Forecast||Market Expects||Prior||Revised From|
|Nov 23||8:30 AM||GDP - Second Estimate||Q3||-||2.5%||2.4%||2.0%||-|
|Nov 23||8:30 AM||GDP Deflator - Second Estimate||Q3||-||2.3%||2.3%||2.3%||-|
|Nov 23||10:00 AM||Existing Home Sales||Oct||-||4.20M||4.42M||4.53M||-|
|Nov 23||2:00 PM||Minutes of FOMC Meeting||Nov 3||-||-||-||-||-|
|Nov 24||7:00 AM||MBA Mortgage Applications||11/19||-||NA||NA||-14.4%||-|
|Nov 24||8:30 AM||Personal Income||Oct||-||0.6%||0.4%||-0.1%||-|
|Nov 24||8:30 AM||Personal Spending||Oct||-||0.7%||0.5%||0.2%||-|
|Nov 24||8:30 AM||PCE Prices - Core||Oct||-||0.0%||0.1%||0.0%||-|
|Nov 24||8:30 AM||Durable Orders||Oct||-||-1.5%||-0.3%||3.3%||-|
|Nov 24||8:30 AM||Durable Orders -ex transportation||Oct||-||0.4%||0.4%||-0.8%||-|
|Nov 24||8:30 AM||Initial Claims||11/20||-||440K||442K||440K||-|
|Nov 24||8:30 AM||Continuing Claims||11/13||-||4275K||4280K||4295K||-|
|Nov 24||9:55 AM||Michigan Sentiment - Final||Nov||-||70.0||69.4||69.3||-|
|Nov 24||10:00 AM||New Home Sales||Oct||-||315K||312K||307||-|
|Nov 24||10:00 AM||FHFA Home Price Index (q/q)||Q3||-||NA||NA||0.9%||-|
|Nov 24||10:30 AM||Crude Inventories||11/20||-||NA||NA||-7.29M||-|
|Nov 24||2:00 PM||Minutes of FOMC Meeting||Nov 3||-||-||-||-||-|