from KingWorldNews:
“So Italy’s situation is truly serious because they also have a short duration on their debt. If you were holding a three-year Italian bond, but it’s only got three months to maturity, you are probably not going to sell it now because you want to get your money out. But you are not likely to roll it over, unless you are an Italian bank.
by Ben Traynor, Bullion Street:
Wholesale market gold prices traded as low as $1560 an ounce Friday morning, before recovering some ground by lunchtime in London, while European stock markets were also down and commodities were broadly flat.
Silver prices meantime sank to a 2012 low at $26.64 an ounce – a 7.2% drop on last week’s close. “We believe a break of $26.00 has the ability to trigger liquidation of silver with it looking for $18.00,” says the latest technical analysis note from bullion bank Scotia Mocatta.
Heading into the weekend, gold prices by Friday lunchtime looked set for their biggest weekly fall since the first week of March, having fallen 3.7% since the start of Monday’s trading.
On the currency markets, the Euro ticked lower against the Dollar, hitting its lowest level this week. “A decline in the Euro may have contributed to a drop in gold prices,” says HSBC precious metals analyst James Steel.
| Action | Analyst | Rating | Price | Date |
|---|---|---|---|---|
| Target | National Bank Financial | $7.50 « $6.60 | 05/09/12 | |
| Target | PI Financial | Buy | $7.00 « $6.75 | 05/09/12 |
| Target | National Bank Financial | $6.60 « $7.00 | 04/16/12 | |
| Target | Paradigm Research | $7.25 « $6.75 | 03/13/12 | |
| Target | PI Financial | Buy | $7.00 « $6.00 | 03/13/12 |
Brinker International, Inc. owns, develops, operates, and franchises various restaurant brands primarily in the United States. It operates the restaurants under the Chili's Grill & Bar and Maggiano's Little Italy brand names. As of August 29, 2011, the company owned, operated, and franchised 1,534 Chili's Grill & Bar restaurants and 45 Maggiano's Little Italy restaurants in 50 states, and Washington, D.C.; and held a minority investment in Romano's Macaroni Grill. It also has restaurants in the United States territories of Guam and Puerto Rico; and in the countries of Bahrain, Canada, the Dominican Republic, Ecuador, Egypt, El Salvador, Germany, Guatemala, Honduras, India, Indonesia, Japan, Jordan, Kuwait, Lebanon, Malaysia, Mexico, Oman, Peru, the Philippines, Portugal, Qatar, Russia, Saudi Arabia, Singapore, South Korea, Syria, Taiwan, the United Arab Emirates, and Venezuela. The company was founded in 1975 and is based in Dallas, Texas.
To review Brinker's stock, please take a look at the 1-year chart of EAT (Brinker International, Inc.) below with my added notations:
After trending higher for most of the last year, EAT has been consolidating within a small Rectangle over the last 2 months. A Rectangle pattern forms when a stock gets stuck bouncing between a horizontal support and resistance. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. For EAT, the Rectangle pattern has formed a $33 resistance (blue) and a $30 support area (navy).
The Tale of the Tape: EAT has formed a standard Rectangle pattern. The possible long positions on EAT would be either on a pullback to $30, or on a breakout above $33. The ideal short opportunity would be on a break below $30.
UK’s Sky News has just reported that a huge worldwide cyber bank raid is ongoing- €60 million have been confirmed stolen through 1 server, and a total of €2 billion is estimated to have been stolen through an additional 59 servers!
Sky News is reporting that McAfee Virus has uncovered a series of financial attacks on US, UK, and Euro-zone banks with individual transfers of over €100,000 being reported.
Is this an extension of RBS’ NatWest’s complete banking system melt-down/ cash account rehypothecation, which is now in its 8th day?
Our thoughts are this is either an Iranian ‘Stuxnet’ retaliation, or a false-flag banking system lock up by the Western Central Banks themselves on which they can conveniently pin the blame for an imminent derivatives induced contagion and banking collapse.
*UPDATE
Story has been completely wiped from Sky News’ Website, link now reads 404: Page Not Found.
Full story still being reported on several alternative media sites:
Security firms McAfee and Guardian Analytics have published a joint fraud report, dubbed Operation High Roller, on new methods of siphoning money from banking systems. Using a series of highly sophisticated cyber attacks to target high balance accounts, criminals have been able to successfully bypass physical “chip and pin” authentication and use server-based fraudulent transactions to steal money from a number of accounts in Europe. The attacks originated in Italy, using SpyEye and Zeus malware to transfer funds into fraudulent accounts….
The majority of attacks appear to have taken place across European banking systems, but McAfee warns that it has found evidence of attacks at Latin American and North American financial institutions too. The company is warning that 60 servers have been processing thousands of attempted thefts from high-value accounts over a period of months, resulting in attempts to steal at least €60 million (US$78 million). McAfee says that if all the attempted fraud attacks were successful then the total attempted fraud could be as high as €2 billion ($2.49 billion).
