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News and Stats

January 10, 2011 – 6:30 pm

There will be little economic news out this week up until Friday. For some reason everything piles up then we will be burdened with six or seven important reports. There are a couple others that will be released during the week but only of marginal interest.

Out this morning Verizon said they are going to announce that they will be carrying the I-Phone. I don’t think it will help Verizon because they will be paying for the cost of each phone sold in a similar deal as seen at ATT. That is likely to be from $200-$400 per phone. The big winner will be Apple.

There was a news item that was splashed over all the media outlets this morning about an oil spill. It was at a Valdez pumping station run by BP. This prompted BP to shut down completely the oil line from the North. The oil was found to be leaking in a basement. There was 9 to 10 barrels of oil. Not 9 or 10 thousand or million barrels just 9 to 10 barrels. Do you think there was a little over reaction by the news media and BP?

Earnings season starts this week and Alcoa will be the first big blue chip to report tonight. They seem to always kick off the season. Generally the numbers will be good but as usual everyone will be trying to ferret out the future from the comments by the CEOs and from the numbers themselves.

Good Trading
Steve Peasley

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