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Wednesday, September 3, 2008

LEH Lehman Afterhours - Aftermarket 9/03/08 - Leh spiking afterhours

Lehman Brothers ( LEH ) stock is jumping afterhours tonight 9/03/08 as there is a report out of Japan that Tokyo Mitsubishi Poised To Bid For Stake In Lehman.

Up to a 5% stake....... Lehman ( LEH ) stock is at $17.50 afterhours tonight up 3.5%

FNM Fannie Mae stock 9/03/08 - FNM Stock Breaking out

Fannie Mae ( FNM ) is breaking out to $7.65 early in trading today as the comapny has sold 2 billion dollars worth of bills, CNBC says this is a sign that things are no so bad with Fannie Mae FNM.

FNM the largest U.S. home funding source, said on Wednesday it sold $2 billion of short-term debt at lower interest rates compared with a week earlier.
The company sold $1 billion of three-month benchmark bills due Dec. 3, 2008 at a stop-out rate, or lowest accepted rate of 2.553 percent and $1 billion of six-month bills due March 4, 2009 at a 2.858 percent stop-out rate.

The three-month bills were priced at 99.355 and have a money market yield of 2.570 percent, and the six-month bills were priced at 98.555 and have a money market yield of 2.900 percent, according to Fannie Mae.

On Aug. 27, Fannie Mae sold $1 billion of three-month bills at a 2.580 percent stop-out rate and $1 billion of six-month bills at a 2.870 percent stop-out rate.

JRJC - China Finance Online - Stocks to Watch in China 9/03/08

JRJC - China Finance Online released earnings last week and they were pretty incredible. Here is a table of their growth q over q and y over y.

Second Quarter 2008 2007 Variance in %

Net revenues $14,679 $5,723 156%
GAAP net income 4,561 1,562 192%
Non-GAAP net income 6,528 2,159 202%
GAAP net income per ADS Basic $0.23 $0.08 188%
Diluted $0.20 $0.08 150%
Non-GAAP net income per ADS Basic $0.33 $0.11 200%
Diluted $0.28 $0.11 155%

Operating Data: Registered users 10,500,000 7,300,000 44%
Active paid individual subscribers 100,600 37,400 169%

The above is pretty amazing growth! JRJC is trading at just 11.5 times 2009 earnings. If JRJC can keep growing at this rate, it could be a huge stock in 2009. Keep an eye on China Finance Online!

USO Analysis 9/03/08 - USO Technical Analysis Sep 3, 2008

USO Technical Analysis Stock Chart - Click Here

USO gapped below the 200 day MA which is very bearish.  The USO has strong support between $87.79 - $86.64.  A close below this level and next support appears to be around $79.40.  Resistance is now the 200 day moving average at $89.16 and the $98's

POT - Potash Analysis 9/03/08 - Potash ( POT ) technical analysis Sep 3, 2008

Pot Potash Technical Analysis Stock Chart - Click here

Pot has broken down severly yesterday 9/02/08.  Potash gapped below its 200 day moving average which is very bearish.  I would expect the previous low to be tested at $157.  If this holds, you could get a solid reversal and this could be a nice long term bottom.

Pot is in a clear downtrend, all rallies should be sold, and major dips should be bought....if $157 is closed below, you could see a retest under $150 which I would buy heavily!

ABK - Ambac news 9/03/08 - ABK hot in Pre market 9/03/08t

Last night, 9/02/08, Ambac ( ABK ) came out with the following news:

Ambac Financial Group, Inc. ( ABK ) Ambac Assurance Corporation (Ambac Assurance) today announced that it has received regulatory approval from the Commissioner of Insurance of the State of Wisconsin to capitalize and reactivate Connie Lee Insurance Company (Connie Lee), its financial guarantee subsidiary. Connie Lee will conduct business under a new name and will focus on the U.S. municipal and global public purpose financing markets. Ambac Assurance will inject $850 million into Connie Lee which will operate as a separate corporate and legal entity within Ambac Financial Group, Inc. (Ambac). Ambac is seeking to obtain stand-alone triple-A ratings for Connie Lee, and has worked extensively with Moodys and Standard and Poors towards that goal. Connie Lee expects to write new insurance policies no later than the fourth quarter of 2008.

ABK is now trading above $8 in pre market and it bumping up at that $8.11 resistance level that I spoke about weeks ago when it was in the $5's.  I called this perfectly!

So now what?  Well, the next resistance level I see would be at $9.35 which is at the 200 day moving average.  Keep in mind, this will move lower each day given that horrible past 200 days.  This is your next point to watch.  If ABK would close over $8.11, use a tight stop.