January 2009 Blog Posts (31)

James Dicks Daily Digest - January 12, 2009

The White House said President Bush has asked Congress to release the remaining $350 billion in financial sector rescue funds after receiving a request to do so from President-elect Barack Obama. Congress has 15 days to reject the request. The request would give Obama not only the opportunity to get access to the money, but also to change its goals and conditions.

Facing a litany of economic and financial challenges, departing Wal-Mart (WMT) CEO Lee Scott urged retailers to work with… Continue

Added by Jack Lott on January 12, 2009 at 10:30am — No Comments

James Dicks Daily Digest - January 9, 2009

U.S. employers cut payrolls by 524,000 in December, driving the unemployment rate to its highest level in almost 16 years, suggesting that the year-long recession continued to deepen. The Labor Department said the national unemployment rate rose to 7.2 percent in December, the highest level since January 1993.

The Commerce Department reported that wholesale inventories dropped 0.6 percent in November while sales were down a record 7.1 percent. Businesses are expected to keep trimming… Continue

Added by Jack Lott on January 9, 2009 at 10:37am — No Comments

James Dicks Daily Digest - January 8, 2009

President-elect Obama called on Congress to move quickly on his economic aid package once he takes office, warning that a failure to do so would have devastating long-term consequences for the nation. Obama said, "I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible. If nothing is done, this recession could linger for years."

The Bank of England has cut the interest rate to its lowest-ever level cutting it to 1.5%. The… Continue

Added by Jack Lott on January 8, 2009 at 9:30am — No Comments

AUD/USD Top?

The pair has hit 5 waves followed with the appropriate Fib extensions. The candlestick patterns at the top are also bearish

Added by David Petrunic on January 7, 2009 at 3:00pm — No Comments

James Dicks Daily Digest - January 7, 2009

According to the ADP employment index, U.S. private-sector firms dropped 693,000 jobs in December, far worse than expected. Employment in the services sector fell by 473,000, while employment in the goods-producing sectors fell by 220,000.

Congressional estimators are projecting an unparalleled budget deficit of $1.2 trillion for the 2009 budget year. A top congressional aide briefed on the estimate says the Congressional Budget Office also sees a $703 billion deficit for 2010. The… Continue

Added by Jack Lott on January 7, 2009 at 10:30am — No Comments

Defeating Dyslexia

On my way into work today and I heard a news report where Hollywood actor, Tom Cruise, revealed that the teachings of the Church of Scientology helped him beat dyslexia. Cruise said at the age of seven he was diagnosed as having this language-based learning disability that can include problems in reading, spelling, writing and pronouncing words.

He said, "Nobody gave me a solution and I wanted to know why the system had failed. Finally, as an adult I learned to read perfectly through… Continue

Added by James Dicks on January 6, 2009 at 11:30am — No Comments

James Dicks Daily Digest - January 6, 2009

Chain-store sales for the week fell 0.8% from the year-earlier period. On a week-over-week basis, sales rose 1.4%. The International Council of Shopping Centers said, "Bargain shoppers were out in force between Christmas and New Year's” who took advantage of retailers' need to clear out seasonal merchandise. Still, that doesn't help salvage what has turned out to be a weak month.

The ISM non-manufacturing index rose to 40.6% in December from a record low of 37.3% in November.… Continue

Added by Jack Lott on January 6, 2009 at 10:37am — No Comments

Time for a “real” CHANGE

Okay, so we have heard it for a year now, time for change. I got it, really I do; I need change as much as the next person. But I actually mean change this time - real change. Think about it for a moment, the population of this country has careened out of control with our mind set concerning credit. We are a nation of debtors not savers, and now it's time to pay the piper; it's time to repent for our financial sins. We have to take control of our own financial situation and that will mean… Continue

Added by James Dicks on January 5, 2009 at 3:00pm — 1 Comment

James Dicks Daily Digest - January 5, 2009

President-elect Obama is heading to Capitol Hill to push for quick action on a broad economic stimulus package that congressional leaders are saying won't be ready until mid-February at the earliest -- almost a month later than he wanted. Obama met with House and Senate Democratic leaders and with a bipartisan group of key lawmakers. He hopes to have Congress enact the recovery plan in time for him to sign his when he takes office Jan. 20th.

The Federal Reserve Bank of New York… Continue

Added by Jack Lott on January 5, 2009 at 10:00am — No Comments

Are you a saver? If not- you will be!

Time for change is here. Yes I borrowed the line from our next president, but why not - it fits. To be successful in anything you have to be ready to accept change. In fact one of my favorite sayings is "if you always do what you have always done then you will always get what you have always gotten".

Now it’s 2009 and I really don't think that we can wait any longer to make these changes. We have been living as a nation of spenders and now we are forced to start living as a nation of… Continue

Added by James Dicks on January 2, 2009 at 11:00am — No Comments

James Dicks Daily Digest - January 2, 2009

The U.S. dollar started 2009 a little higher, rising after a report showed manufacturing in Europe slowed. The euro fell 0.8% to $1.3897. The dollar index which tracks the currency against a basket of several counterparts, gained 0.4% to 81.64. The purchasing managers' index showed manufacturing activity in the euro zone fell for a seventh month, to 33.9 in December from 35.6 in November.

The ISM index, a key manufacturing gauge, stood at 32.4% in December, showing the sector's fifth… Continue

Added by Jack Lott on January 2, 2009 at 10:30am — No Comments