Guest Posted October 20, 2005 Report Share Posted October 20, 2005 BHP to Speed $1.3 Bln Australian Iron Ore Expansion Oct. 20 (Bloomberg) -- BHP Billiton, the world's largest mining company, brought forward a $1.3 billion expansion of its iron ore operations in Western Australia by six months as demand surged from Chinese steelmakers. The expansion, which comes the same week as a similar-sized investment by rival Rio Tinto Group, will more than double capacity at its Area C iron ore mine to 42 million metric tons a year. Output will start in the fourth quarter of 2007... Miners of the steelmaking raw material such as BHP and Rio are competing to supply China and take advantage of a 71.5 percent gain in prices from April. Link to comment Share on other sites More sharing options...
Guest Posted October 20, 2005 Report Share Posted October 20, 2005 In the blah blah category: U.K. Retail Sales Gained for 2nd Month in September Oct. 20 (Bloomberg) -- Retail sales in the U.K., Europe's second-largest economy, increased in September for a second consecutive month, a sign that the slowdown in consumer spending may have reached bottom. Sales gained 0.7 percent from August, when they increased a revised 0.2 percent, the National Statistics office said today. Year-on-year sales also grew 0.7 percent, the weakest since January 1996. Link to comment Share on other sites More sharing options...
Charmin Posted October 20, 2005 Report Share Posted October 20, 2005 Coming from an Dover Sole condition I don't know what the big fuss is... and most likely yesterday's short covering shoook out some weak shorts... in a few days we'll know if it's real demand showing up. although I did see a few stocks with little springs and doji's ...so we could be in a near term bounce... that shows up well for some sectors... HD and LOW bounced off supports..and checking in on retail once and awhile... Link to comment Share on other sites More sharing options...
DrStool Posted October 20, 2005 Report Share Posted October 20, 2005 Wilma keeps expanding its windfield. The current forecast track goes directly over us, but only as a category 1 or 2. Damage should be limited. My primary concern is how long we will be without electricity. If all goes well, I should be back up and running here on Tuesday. I will keep you posted over the weekend. We are going to spend a night in Central Florida watching the forecast track, then will either stay put and head home after the storm, or possibly head up to Georgia on Friday. It's a guessing game at this point. My objective is to be in a place that has electricity so that I can continue to publish, while remaining close enough to home in order to get back quickly if our area doesn't lose power. I expect that if the storm follows the current forecast track, that we will lose electricity here for at least a few days. After Francis it was 13 days. On the other hand, after Jeanne our neighborhood got its power back in less than 24 hours because the entire local grid was rebuilt to higher wind standards after Francis. As a result, I am hopeful that we can get back here quickly this time. In the meantime, we will be nomads for a few days. Link to comment Share on other sites More sharing options...
DrStool Posted October 20, 2005 Report Share Posted October 20, 2005 Oy. The 8 AM advisory reports that the hurrican wind field now covers a diameter of 180 miles. This thing is going the wreak havoc on Floateda. Link to comment Share on other sites More sharing options...
DrStool Posted October 20, 2005 Report Share Posted October 20, 2005 "MAXIMUM SUSTAINED WINDS HAVE DECREASED TO NEAR 145 MPH...230 KM/HR...WITH HIGHER GUSTS. WILMA IS A CATEGORY FOUR HURRICANE ON THE SAFFIR-SIMPSON SCALE. SOME RE-STRENGTHENING IS FORECAST DURING THE NEXT 24 HOURS." Link to comment Share on other sites More sharing options...
DrStool Posted October 20, 2005 Report Share Posted October 20, 2005 Now it's not supposed to hit here until Sunday night. Link to comment Share on other sites More sharing options...
DrStool Posted October 20, 2005 Report Share Posted October 20, 2005 Follow the progress of Wilma here. Click on the check box Trop Frcst Points to compare the actual track with the forecast track. If you leave the page open, you will need to refresh it every half hour. Link to comment Share on other sites More sharing options...
crazy_ate Posted October 20, 2005 Report Share Posted October 20, 2005 Ah REFCO....Looks this may be the tip of the iceberg regarding naked shorts. I know Mark has commendted several times regarding the level of failed trades... ------------------------------------ Meanwhile the Journal reports the firm faces problems as part of various probes into the practice of known as "naked shorting." Generally someone who shorts stocks borrows shares, then sells them, in the hopes that the stock will decline in price and they'll be able to buy shares to replace the borrowed stock, pocketing the difference as a profit. The Journal says that in the case of so-called naked shorting, investors sells shares they don't own or haven't borrowed, knowing they have several days to deliver the shares. The practice is generally illegal. Link to comment Share on other sites More sharing options...
astral mike Posted October 20, 2005 Report Share Posted October 20, 2005 jobless claims "newsnoise" event due in 5 minutes. market "expects" 370k. Link to comment Share on other sites More sharing options...
Bearman Posted October 20, 2005 Report Share Posted October 20, 2005 PPT did their job http://www.theglobeandmail.com/servlet/Art...s/International Anyone heard news on Jimmy Rodgers metal funds money going up in smoke via refco? Link to comment Share on other sites More sharing options...
astral mike Posted October 20, 2005 Report Share Posted October 20, 2005 *DJ US jobless claims -35K To 355K Link to comment Share on other sites More sharing options...
crazy_ate Posted October 20, 2005 Report Share Posted October 20, 2005 PPT did their job http://www.theglobeandmail.com/servlet/Art...s/International Anyone heard news on Jimmy Rodgers metal funds money going up in smoke via refco? <{POST_SNAPBACK}> Refco Owes Jim Rogers Fund $362 Million By Matthew Goldstein Senior Writer 10/18/2005 5:18 PM EDT http://www.thestreet.com/markets/matthewgo...n/10247967.html Link to comment Share on other sites More sharing options...
crazy_ate Posted October 20, 2005 Report Share Posted October 20, 2005 PPT did their job http://www.theglobeandmail.com/servlet/Art...s/International Anyone heard news on Jimmy Rodgers metal funds money going up in smoke via refco? <{POST_SNAPBACK}> Refco Owes Jim Rogers Fund $362 Million By Matthew Goldstein Senior Writer 10/18/2005 5:18 PM EDT http://www.thestreet.com/markets/matthewgo...n/10247967.html <{POST_SNAPBACK}> Opps....bad timing.... The Rogers Raw Material Fund is owed more than $362 million, according to the filing. The fund is managed by Chicago-based Beeland Management Co., of which Rogers is majority owner. It trades in a portfolio of exchange-traded commodity futures and forward contracts. In July, Beeland hired Robert Mercorella, Refco's former director of global marketing and business development, as its chief operating officer. Last week, prior to the bankruptcy, Beeland sent a letter to investors saying it transferred "all trade execution to Refco effective Sept. 30, 2005, with funds in government securities held by Refco Capital Markets. Link to comment Share on other sites More sharing options...
Guest Posted October 20, 2005 Report Share Posted October 20, 2005 looks like they're pushing crude and gold futures back down in preparation for the stock market opening... Link to comment Share on other sites More sharing options...
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