Whoever imagines that the average Wall Street professional is looking for reasons to buy exciting stocks hasn’t spent much time on Wall Street. The fund manager most likely is looking for reasons not to buy exciting stocks, so that he can offer the proper excuses if those exciting stocks go up. – Peter Lynch
April, 2007:
Traded Superior Offshore International (DEEP) Today
Superior Offshore International (DEEP) started traded in the secondary market today. I requested shares for the IPO but unfortunately I was not allocated any shares. Still, I bought DEEP in the secondary market today. I bought 250 shares at 17.25 and 500 shares at 17.50 and then sold all 750 shares at 18.00 five minutes later, for a total profit of around $400. It would have been much better if I was allocated shares for the IPO. I requested for 2500 shares, but I was not allocated a single share. Clearly, I am not getting a piece of the IPO market. I have to look into ways of getting my hands on the IPO shares. How do I increase my chances of being allocated shares for the IPO market?
Article: Do You Live Paycheck-To-Paycheck, Too?
Do You Live Paycheck-To-Paycheck, Too?
By Brent Rassmussen, COO, CareerBuilder.com
Counting down the minutes to payday? You’re not alone. Four-in-ten workers (41 percent) say they often or always live paycheck to paycheck, according to CareerBuilder.com’s latest survey.
At the end of 2006, the Bureau of Labor Statistics (BLS) reported the average weekly earnings of a full-time worker was $682. Take out taxes and other deductions like Social Security and Medicare, and that take-home pay is even less. Now subtract money spent on food, clothing, rent or mortgage, utilities, transportation, healthcare, education and other services for day-to-day living and there’s often not a lot left over.
Scrambling to make ends meet is an exercise all too familiar in many homes. One-third of workers report they don’t have enough income to live comfortably. To achieve this, more than half said they would need to earn more than $500 per paycheck. Thirty-seven percent of workers said they have one income for their households while 16 percent say they work more than one job just to make ends meet.
Because workers’ paychecks are often spent before they even hit the bank, saving is often not an option. One-in-five said they don’t set aside any money for savings each month. Twenty-eight percent save $100 or less per month and 16 percent save less than $50. And those golden years might not be so golden: 25 percent don’t participate in a 401(k), IRA or other retirement plan.
So if you had the extra money, what would you do with it? Turns out many of you’d like be saving for a rainy day… or the future. In a 2006 survey, American Payroll Association asked 33,128 Americans the question what they would do if they received a 100 percent pay raise. A combined 51 percent said they would either deposit it into savings, contribute it to a 401(k) or invest it.
While a bigger paycheck may help, planning ahead and maximizing benefits offered by employers can also play a major role in stretching your dollar. Here are some ways to help create a healthy bottom line at home:
Use direct deposit. — Many employers offer this to employees. By having your paycheck deposited directly into your bank account, you resist the temptation of just cashing it or getting cash back.
Pay yourself first. — Even if it’s only $10 a week, set aside a certain amount of money every payday in a separate savings account. Don’t touch it. Over time, you’ll see it add up from your regular contributions and earned interest.
Don’t leave any money on the table. — Take advantage of your employer’s cost-saving benefits including flex-spending, education reimbursement and wellness benefits. Flexible spending accounts enable workers to designate a certain amount of pre-tax dollars for health-related expenses. Consider your commute, too. Some employers will reimburse transportation expenses or provide flexible work arrangements such as telecommuting.
Track your spending. — Although 58 percent of workers have a set budget each pay period, 21 percent say they typically spend over their allotted amount. When asked what puts them over budget most often, the most popular response was eating out.
Skip the ATM. — If you have cash on you, you’ll spend it. Minimize your trips to the ATM by giving yourself a weekly cash allowance and using only that for the week. This might mean cutting back on daily lattes and lunches out, but you won’t miss it over time.
Evaluate your paycheck. — 81 percent of employers surveyed plan to increase salaries for existing employees in 2007 and nearly half expect to increase salaries on initial offers to new employees. Negotiations may be in order.
Start a job search. — Some job search expenses such as agency fees, travel expenses, long-distance calls and copying and mailing résumés are tax deductible for qualifying workers.
Brent Rassmussen is COO of CareerBuilder.com. He is an expert in recruitment trends and tactics, job seeker behavior and workplace issues.
Source: MSN Careers
Advanta Card Cash Back
I have the Advanta Business Card and use it strictly for business purchases. Once my card reaches a total of more than $50 for cash back, Advanta automatically sends out a check for the cash back balance as of the last closing statement. On April 14th, I received an email from Advanta telling me that they have mailed out a check for $58.52 to me.
IPO: Edenor
Business Summary: Largest electricity distribution company in Argentina.
Website: www.edenor.com
Expected Date: Week of 4/23/07
Price Range: $16.00 – $18.00
10 New ETF Trends for 2007
Ten new trends expected to see emerging in the world of exchange traded funds this year:
10 New ETF Trends for 2007 by Tom Lydon
Oil Prices Up Slightly in Europe
Oil Prices Up Slightly in Europe
Tuesday April 17, 7:19 am ET
By George Jahn, Associated Press Writer
Oil Prices Up Slightly Ahead of Midweek Supply Report; Eyes on Potential Violence in Nigeria
VIENNA, Austria (AP) — Oil prices rose Tuesday as traders weighed the restart of a key U.S. oil refinery against expectations that U.S. gasoline inventories would keep falling.
The market was also poised to react to potential elections-related violence in Nigeria.
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Light, sweet crude for May delivery was up 42 cents at $64.03 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. Slow trading is not unusual ahead of a contract’s expiration. The May futures contract expires Friday.
Brent crude for June rose 45 cents to $67.70 a barrel on London’s ICE Futures exchange.
Traders were looking ahead to Wednesday’s weekly U.S. petroleum inventory report, which is expected to show rising crude stocks and falling gasoline and distillate supplies, according to a survey of analysts by Dow Jones Newswires.
Though part of the hobbled McKee refinery in Texas was restarted — a development that is expected to shore up U.S. gasoline supply and ease a crude glut — domestic production alone may not be enough to build stocks in time for peak summer demand.
“The wild card will be the imports,” said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago. “This week’s (Department of Energy) inventory report is going to be a big one.”
Trading was volatile Monday on news of election-related violence in oil-producing Nigeria, but Nymex oil prices ended the day down only 2 cents.
Traders are watching the potential for more violence that could disrupt oil supplies in Nigeria, the world’s eighth-largest exporter and a main supplier to the United States. Nigerians vote Saturday in presidential elections, a week after at least 21 were killed in violence surrounding state elections.
At the same time, other developments in the African nation had the potential to depress prices. Vienna’s PVM Oil Associates noted “production at some of the shut-down oil fields in Nigeria could restart.” The Nigerian National Petroleum Corp. has said the Forcados field — which accounts for 380,000 barrels a day — is likely to resume operations this month.
Forecasts for warmer U.S. weather could also depress prices of oil, natural gas and heating oil.
Heating oil futures rose more than a cent to $1.8730 a gallon, while natural gas prices slipped 4 cents to $7.490 per 1,000 cubic feet.
Source: Yahoo! Finance
Oil Prices Fall in Volatile Trading
Oil Prices Fall in Volatile Trading
Monday April 16, 11:11 am ET
By Stan Choe, AP Business Writer
Oil Prices Fall Ahead of Expected Restarts at U.S. Refineries, Nigerian Elections
NEW YORK (AP) — Oil prices fell Monday in volatile trading ahead of Nigerian presidential elections that some fear could spark violence and disrupt oil supplies as well as restarts at U.S. refineries.
Light, sweet crude for May delivery dropped 86 cents to $62.77 a barrel in morning trading on the New York Mercantile Exchange. Earlier, it had climbed as high as $64.21.
Brent crude for June was down 69 cents at $67.94 a barrel on London’s ICE Futures exchange.
Citigroup Global Markets energy analyst Tim Evans said oil prices rose overnight after at least 21 people died in Nigeria in election-related violence. Nigeria is the world’s eighth-largest exporter and a main supplier of oil to the United States.
“There’s a sense in the ongoing market that when it fails to rally on bullish news, that all by itself is reason to sell,” Evans said. “I’m not saying that’s right, but that’s the psychology of the market.”
Forecasts for warmer weather helped to ease oil, natural gas and heating oil prices as well, he said.
Prices rose last week due to problems at several U.S. refineries and a decrease in U.S. gasoline stockpiles. Some refineries, including the McKee refinery in Texas, are expected to resume gasoline production this week, which should support prices.
The restarts should also help to tighten the spread between Nymex crude, which is delivered near the McKee refinery, and Brent crude.
“We will not know that refinery snag contagion has ended, until it ends. The bullish case is easy to make right now,” said John Kilduff at Fimat USA.
Gasoline supplies sank during the first week of April amid strong demand, with stockpiles down 5.5 million barrels to 199.7 million barrels, the U.S. Energy Information Administration reported Wednesday.
In other Nymex trading, heating oil futures fell 2.74 cents to $1.8733 a gallon while natural gas prices were down 24 cents to $7.561 per 1,000 cubic feet. Gasoline futures fell 3.25 cents to $2.1472 per gallon.
Associated Press Writer George Jahn in Vienna, Austria, contributed to this report.
Source: Yahoo! Finance
Oil Prices Hover Near $64 a Barrel
Oil Prices Hover Near $64 a Barrel
Monday April 16, 9:14 am ET
By George Jahn, Associated Press Writer
Oil Prices Hover Near $64 a Barrel Ahead of Expected Restarts at U.S. Refineries, Nigeria Vote
VIENNA, Austria (AP) — Oil prices rose Monday ahead of the expected restarts at U.S. refineries and Nigerian presidential elections that some fear could spark violence that may disrupt oil supplies.
The tenth consecutive week of draws on U.S. gasoline inventories last week also had potential to exert upward pressure on prices.
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Light, sweet crude for May delivery rose 26 cents to $63.89 a barrel in electronic trading on the New York Mercantile Exchange by afternoon in Europe. The contract is likely to experience slow trading because it expires this week.
Brent crude for June was up 20 cents at $68.77 a barrel on London’s ICE Futures exchange. 63.95
“On a short-term basis we don’t really have specific factors” guiding the market, said Tetsu Emori, chief commodities strategist with Mitsui Bussan Futures in Tokyo. “The market is losing direction.”
Still, some indicators pointed to an upward trend in the short term.
Last week, oil prices were lifted by problems at several U.S. refineries and a decrease in U.S. gasoline stockpiles. Some, including the McKee refinery in Texas, are expected to resume gasoline production this week, which should support prices.
“We will not know that refinery snag contagion has ended, until it ends. The bullish case is easy to make right now,” said John Kilduff at Fimat USA.
Gasoline supplies sank during the first week of April amid strong demand, with stockpiles down 5.5 million barrels to 199.7 million barrels, the U.S. Energy Information Administration reported Wednesday.
Nigerians vote Saturday in presidential elections, a week after at least 21 were killed in violence surrounding state elections. Some fear that the election results could lead to more violence that may disrupt oil supplies in the African nation, the world’s eighth-largest exporter and a main supplier of oil to the United States.
Vienna’s PVM Oil Associates attributed at least part of the upward trend to “declining U.S. gasoline stocks,” adding: “Further support came from Nigeria, with market participants concerned about supply disruptions ahead of the upcoming presidential elections in the country.”
In other Nymex trading, heating oil futures were up more than half a cent at $1.90700 a gallon while natural gas prices were down 11 cents to $7.690 per 1,000 cubic feet.
Source: Yahoo! Finance
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