Cinema-Blend-whereiszemoola

Yes it's 21 Weeks And 73 Billion Redeemed From Equity Funds and even IBD has started featuring the issue (although on a much watered down version) Stock Fund Outflow Hits $16.53 Billion

• Posted 09/29/2010 05:44 PM ET
  
  Investors pulled a net $16.53 billion from stock funds in August as the market fell.
  
  It was the most since May's $24.76 billion outflow and was up from July's $10.45 billion outflow, according to the Investment Company Institute.
  
  Indications were that stock fund outflow slowed slightly this month.
  
  August's outflow was the fourth straight monthly net withdrawal. For the year to date, stock funds gave back $18.19 billion vs. $14.48 billion of inflow in the year-earlier period...

September was a good month, no? Look at CNBC article header: Can Rally Continue After Best September Since 1939?

Best September since 1993 and the stock fund outflow continued!

Yeah.. the inquiry mind wants to know what would be of 'stock funds with much less funds'? And more so, a market with stock funds that has less funds?

How about this from Meredith Whitney who is making a massive prediction that 80,000 layoffs could be seen in Wall Street! ( do play the video)

On the Atlantic.com: Hiring Freezes and Layoffs Begin on Wall Street

The money wasn't flowing as abundantly through Wall Street this summer. Big banks are beginning to slow their hiring and reduce their workforces. And these aren't entirely back- or mid-office jobs, as front-office employees will also be affected. This indicates pessimism on the part of the financial industry, which is likely bad news for the broader economy as well.
Earlier this week, we learned that Morgan Stanley has implemented a hiring freeze on investment banking jobs through the end of 2010. Trading and underwriting have been slow and aren't expected to pick up much in the near-term. Usually, that means layoffs aren't far off.

Indeed, reports also indicate that Bank of America has begun to shed jobs from its capital markets group for the same reason.

A Bloomberg article by Michael J. Moore on the Morgan Stanley freeze says:

• Companies including Barclays Capital and Credit Suisse Group AG also have started reducing staff in Europe. Securities firms around the world will cut as many as 80,000 jobs in the next 18 months as revenue growth begins to slow, bank analyst Meredith Whitney of Meredith Whitney Advisory Group LLC said in a report dated Aug. 31.

According to a source who spoke with John Carney of CNBC, U.S. fixed income groups will be severely affected. The source describes volume down across the board, predicting a "bloodbath." Part of the problem is new financial regulation, says the source:

• "It's a one-two blow for fixed income. The derivatives are being commoditized and put on exchanges. Swoosh. Now you don't need half the people you employ to trade and track those. And volume on corporates and agency paper is way down."

Usually when Wall Street firms begin laying off workers, a full-fledged firing wave begins. If volume is down for a few, then it's down for everyone. And for layoffs to ensue, they either overestimated the speed of the recovery or see a double dip. Either way, this is probably bad news for Main Street, since Wall Street firing tends to be a leading indicator for the rest of the labor market.

----- (LOL! Lot's of source too! :P ) -------

And then we have DB Shaw and BoA: DE Shaw, Bank of America (BAC) Layoffs Foreshadow Harsh New Reality for Wall Street

• Bank of America, according to a person briefed on the decision this morning, is already planning to eliminate up to 30 proprietary trading jobs, or almost one-third of its proprietary trading division. JPMorgan has revealed plans to move proprietary traders into its Asset Management division in order to salvage some of their prop trading desks, reported the New York Times on Monday. Goldman Sachs will reportedly dissolve or spin off its proprietary trading teams entirely. Credit Suisse recently forked $425 million for a stake in Swiss bank York Capital (a deal that is compliant with the Volcker Rule, which allows banks to own hedge fund managers while limiting the investment of the bank capital in funds itself). Despite strategies to deal with the impending regulations, these firms have already seen an exodus of talent to private equity firms and hedge funds, such as Blackstone. But many think that when the dust settles, not every cute puppy will be able to find a new home.
• THE CASE OF DE SHAW
  Following $7 billion in redemptions in the past few months, esteemed quant hedge fund DE Shaw is cutting 10% of its work force, which, in this case, represents 150 of the brightest math geniuses around. Many have purported that job cuts in the financial services industry would be mainly limited to secretaries and back room staff, but these across the board cuts include partners and portfolio managers as part of a long term strategic review by the company. The decision was clearly not taken lightly, which makes it that much more telling. Perhaps (gasp!) the opportunities for quantitative exploitation of our financial markets are reaching a head, or is becoming saturated to the point that further expansion in that space is darn near impossible.Although slightly off topic, it is interesting to consider the possible implications of DE Shaw’s massive redemptions, per ZeroHedge. Given the rally in equities over the past few months, it is also fair to presume many of DE Shaw’s losing positions were bearish ones, and the unwinding of those positions contributed, at least in part, to the acceleration of the rally. Many market participants have been left wondering, "who continues to buy this stuff?" Now, we have an example of at least on type of example. Hedge Fund titans like David Tepper of Appaloosa and Bill Gross are mindful that you must always be mindful of the Fed, and the implications of its actions, when developing a core investment strategy, but the recent the recent ramp up in equities (to the detriment of quant funds like DE Shaw) shows the dangers in setting such a precedent for market manipulation by our great central bank. It seems that is the current environment, the only way to deliver consistent returns is by essentially front-running the Fed.

The DE Shaw is the most interesting.

7 Billion Redeemptions and 10 percent layoffs ( they laid off their math geniuses!)!!!

Ah.. perhaps they (DE Shaw) deserved it for doing what they did - do see this article A poster child for treating investors poorly?

On NY Times Blog: Wall Street's Layoff Problem Is Spreading‎

• And Morgan Stanley is taking a related approach: it’s asking bosses to hold off on new hires unless the position absolutely needs to be filled.
  As Nelson D. Schwartz pointed out in The New York Times last week:
  After an unusually sharp slowdown in trading this summer, analysts are rethinking their profit forecasts for 2010. …
  While the numbers will not be known until after the third quarter ends and financial companies begin reporting earnings in October, the pace of trading this summer was slow even by normal summer standards. Trading in shares listed on the New York Stock Exchange was down by 11 percent in July from 2009 levels, and August volume was off nearly 30 percent.

Ahem!

Note the very last sentence: trading in shares listed on the New York Stock Exchange was down by 11 percent in July from 2009 levels, and August volume was off nearly 30 percent.

Blogged on 28 Sep 2010: Ah... According To Sources

In the Edge Financial Daily:

• Syabas may get tariff hike
  Written by Jose Barrock
  Tuesday, 28 September 2010 12:12
  
  KUALA LUMPUR: A water tariff hike of between 15% and 20% may be in the offing for Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), sources said.
  
  The increment would be a lifesaver for the water treatment players, Syarikat Pengeluar Air Sungai Selangor Holdings Bhd (Splash) and Konsortium Abass Sdn Bhd, which are both on the verge of defaulting on their debt commitments.
  
  Syabas has not paid the water treatment players, which supply the treated water, because the tariff hike that was scheduled to kick in early last year did not materialise.
  
  It is understood that the federal government has agreed in principle to the tariff hike for Syabas, but has yet to get the green light from the Selangor state government which is run by the opposition Pakatan Rakyat.
  
  Syabas has the mandate to supply treated water to Kuala Lumpur, Selangor and the federal capital of Putrajaya and under its concession agreement was supposed to get a 37% tariff hike last year.
  
  “The federal government has more or less agreed, it’s up to the state now. The situation is critical as the water players, the water treatment plant operators are in jeopardy,” a source told The Edge Financial Daily.
  
  It is not clear how Selangor will react to the new tariff hike as it had opposed the implementation of the 37% hike and attempted to terminate Syabas’ concession on the grounds that Syabas had not lived up to the main tenets of its concession, such as reducing the level of non-revenue water to 28% in 2008.
  
  However, the state may be agreeable to the lower tariff hike this time considering the adverse impact that the delay has had on the industry.
  
  Both Splash and Konsortium Abass are seeking legal redress against Syabas.
  
  Konsortium Abass is at loggerheads with Syabas, and sent an originating summons dated Oct 5, 2009 for about RM63 million for payment of electricity cost and purchase of water invoices, among others.
  
  Meanwhile, Splash initiated legal proceedings against Syabas in November last year, pressing for the payment of RM196 million for unpaid invoices from as far back as December 2008 to August 2009.
  
  As the water operators have not been receiving their payments, both Malaysian Rating Corp Bhd and RAM Ratings have downgraded all their debt papers.
  
  According to insiders, total bonds issued by the Selangor water players are in excess of RM6 billion.
  
  The federal government has been giving Syabas soft loans to help it sustain its operations. Industry players say the company utilised the loans to pay 50%-60% of its overdue payments to the water treatment companies.
  
  Under the current structure, water companies borrow short to finance long-term projects, which brings about the need for tariff increases every now and then.
  
  A thorn in the side of the industry and both the state and federal governments, has been the issue of the water players defaulting on their bonds.
  
  The other water treatment player in Selangor is Puncak Niaga (M) Sdn Bhd (PNSB). PNSB is wholly owned by Puncak Niaga Holdings Bhd. Puncak Niaga also has 70% equity interest in Syabas, which explains why PNSB is not seeking legal redress against Syabas.
  
  Puncak Niaga is 41.25% owned by businessman Tan Sri Rozali Ismail, who is said to be closely linked to Umno. The Barisan Nasional controlled Selangor prior to Pakatan Rakyat coming to power.
  
  The share price of Puncak Niaga was up five sen to RM2.85 yesterday.
  
  Konsortium Abass, meanwhile, is 55%-owned by Kumpulan Perangsang Selangor Bhd (KPS) and 45% by Operasi Murni Sdn Bhd.
  
  Splash’s shareholders are Gamuda Bhd, which has 40% equity interest, KPS (30%) and businessman Tan Sri Wan Azmi Wan Hamzah’s The Sweet Water Alliance Sdn Bhd (30%). KPS is a 60% unit of Selangor’s investment arm Kumpulan Darul Ehsan Bhd and has 30% equity interest in Syabas.
  
  Konsortium Abass manages the Sungai Semenyih Water Supply Scheme implemented by the Selangor government and supplies treated water to Syabas to distribute to southwest Kuala Lumpur, Petaling Jaya, Shah Alam, Klang, Putrajaya, Cyberjaya, Sepang, Puchong, Seri Kembangan, Bandar Baru Bangi, Kuala Langat and surrounding areas.
  
  The latest deadline for the consolidation of the water industry in Selangor is slated for year-end after several postponements, but most water players are not optimistic that such a consolidation can be concluded so soon due to the political factors.
  
  
  This article appeared in The Edge Financial Daily, September 28, 2010.

Makes you wonder how this very reporter and his source.

Puncak the stock, of course, rose.

The stock soared 14 sen yesterday!

And today, theSun, publishes: Khalid: No water tariff hike

• ... Speaking to reporters after the state executive council meeting today, Mentri Besar Tan Sri Abdul Khalid Ibrahim pointed out that the negotiations have stalled as there are parties that do not make the interest of the people their priority.
  
  "In fact there are concessionaires that are demanding for returns as high as 70% each year for the acquisition process," he said.
  
  "Selangor will not allow the concessionaires to incur losses as a result of the acquisition, but we will not entertain exorbitant and greedy demands because it is the people who will have to pay for these demands," he added.
  
  On Tuesday, The Edge Financial Daily reported that the federal government had agreed in principal on a 15% to 20% water tariff hike for Syabas, but the company needed the green light from the state government.
  
  Khalid said although the federal government has agreed to allow the hike, Selangor refused to do so until restructuring negotiations are wrapped up.
  
  "As per the agreement signed between Syabas, the federal government and the state government, water tariff hikes must have the approval of the federal and state governments," he said.
  
  "The state government will not change its stand despite Syabas’ claim that it is incurring losses because it cannot increase the rates."
  
  He said the state government intended to protect the interest of the five million consumers in Selangor, Kuala Lumpur and Putrajaya; the people of Selangor therefore need not be worried about reports of a water tariff hike.
  
  "The state has always been committed towards concluding the Selangor water industry restructuring negotiations, keeping in mind benefits for the consumers, and towards a more efficient water services management with fair pricing," said Khalid.
  
  Selangor has maintained that a review of water tariffs can only be done after the water industry restructuring exercise is completed.
  
  "Only a wholesome solution can ensure that the water industry is managed in a effective manner with reasonable tariffs that will not burden the people," said Khalid.

Well... NO water hike!

And Puncak the stock is now vomiting back the gains (it's now down 10 sen) it made from that Edge Financial Daily article.

How?

Reporter publishes an article based on un-named sources.

Stock flies.

The article is denied.

Stock falls.

And it happens over and over and over again.

Where's the credibility of our financial news? Yeah and what about the credible information? Credible article of facts based on unknown source?

ps: don't you think it's high time the reporter is hauled up and questioned about his source?

I still remember so much that article on the Sun: Credible information vs speculation.

Don't you want to read financial news based on credible information?

For long spells United didn't look like it could pull off its first away win of the season.

United played with Anderson, Fletcher and Carrick in midfield. Nani and Park were deployed on the wings and Berbatov played alone up from. The creativity just wasn't there.

And Park was losing the ball too often in the first half and Carrick was way below par.

Chichi came on for Anderson and within minutes, he came within whiskers to scoring. In the 84th minute, Nani's first decent cross was almost turned in by Chichi at the far post. The ball came off the woodwork with the goal begging.

SAF smelt blood and made a huge move. He took out in form striker, Berbatov, and brought in young Macheda.

A minute later, the move payed off. Nani beat his man on the wing and squared the ball to Macheda. Macheda's touch was brilliant and he set the ball squarely to Chichi... and the rest was history!

Here's the latest data from ICI.

Yeah, 21 consecutive weeks of redemptions of equity mutual funds.


Past postings tracking the fund outflows.

• 20 Consecutive Weeks Of Fund Outflows And 71 Billion Withdrawn From Equity Funds
• More Money Redeemed From Equity Mutual Funds
• 65 Billion Outflow From Long Term Equity Funds
• 58 Billion Reason Why Americans Thinks Their Stock Market Sucks!
• Americans Pulled USD 53.279 Billion Out Of The Equity Markets
• Stocks Rally And US Equity Investors Rallied To Get Out Of the Equity Markets
• Main Street Telling Wall Street That The Equity Markets Stinks!
• Stocks Are Flying To The Orbit But Investors Keeps Cashing Out!
• Since 28th April 2010, Americans Pulled USD 42.116 Billion Out From Equities!
• more here
  

Kencana reported its earnings tonight.

On 29th June 2010, I blogged Should I Be Optimistic On Kencna?

Hai-O reported its earnings.

This is how things look...

How?

Previous posting on Hai-O: Hai-O Warns Of Challenging Next Year

On UK Telegraph: Shut Down the Fed (Part II)

• ......... We have a very odd world. The IMF has doubled its global growth forecast to 4.5pc this year, and authorities everywhere have ruled out a serious risk of a double dip recession.
  
  Yet at the same time the Bank of Japan has embarked on unsterilised currency intervention, which amounts to stimulus, and both the Fed and the Bank of England are signalling fresh QE.
  
  You can’t have it both ways. If the US is not in deep trouble, the Fed should not be thinking of extra QE. It should step back and let the economy heal itself, if necessary enduring several years of poor growth to purge excess leverage.
  
  Yes, U6 unemployment is 16.7pc. But as dissenters at the Minneapolis Fed remind us, you cannot solve a structural unemployment crisis with loose money.
  
  Fed is trying to conjure away the hangover from the last binge (which Greenspan/Bernanke caused, let us not forget), as if to vindicate its prior claim that you can always clean up painlessly after asset bubbles.
  
  Are the Chinese right? Are the Americans and the British now so decadent that they will refuse to take their punishment, opting to default on their debts by stealth?
  
  Sooner or later we may learn what the Fed’s hawkish bloc of Fisher, Lacker, Plosser, Hoenig, Warsh, and Kocherlakota really think about this latest lurch into monetary la la land, with all that it implies for moral hazard and debt contracts.
  
  

Just saw that Analabs had reported its earnings last night.

Of course, I am interested in it because I was interested to see how it fared because I had blogged on this company before.

First, here's the past postings:

1. What's The Potential Of Coveright Surfaces To Analabs Resources?


2. Update On Analabs Earnings


3. A Look At Analabs Earnings


4. Analabs

( ps: LOL! I hope I won't be accused of obsessive for making this posting! LOL! )

Flashback.

In the posting # 3, A Look At Analabs Earnings, on March 2010, I stated why I decided to blog on this stock.

• The jump in its q-q earnings has been very impressive this year.
  So why am I posting about this stock?
  Well, I had not been positive on this stock before.

Yes, I had not been positive on the stock before. See Analabs. I was NOT impressed. However, in the corporate world, anything can happen. Really. Bad companies can become good and even good companies can turn bad. Yeah, they call it turnaround. And since it was apparent that Analabs could have a positive turnaround for the better, I thought it was only fair that I blogged on it, yes, to acknowledge and to give credit. ( Yeah, Analabs jumped 13 sen to 1.39 on that morning! )

The next quarter, June 2010, I wrote the following: Update On Analabs Earnings. Let me re paste here what I wrote.

Analabs reported its earnings. It made a net profit of 3.640 million for the quarter, giving it a total earnings of 15.389 million for its fiscal year 2010.

Which is very impressive when one starts comparing it versus what it had achieved the previous year.

But then... on a q-q basis, the earnings was terrible.

Ah yes, yet another interesting issue. Should one look at a y-y comparison or should one look at the q-q comparisons?

On a y-y comparison, its 3.640/15.389 million earnings was very impressive. Last year, Q4, it made only 1.376 million and had a total earnings of 9.373 million for the fiscal year. Bravo.

On a q-q comparison, last quarter, it made 5.639 million. So the 3.640 million is rather a shocker yes? Why such a big decline?

Balance sheet comparisons.

1. Cash. This quarter 9.949 million. Last quarter 11.848 million. Last year 32.272 million.
2. Receivables. This quarter 26.924 million. Last quarter 25.275 million. Last year 7.812 million.
3. Investments in quoted securities. This quarter 14.544 million. Last quarter 14.863 million.

Fast forward present day.

Last night Analabs said it made 3.118 million from a sales revenue if 35.562 million.

I knew it was going to look impressive when compared to previous year, same period but on a q-q basis it was rather weak! Same scenario as in June 2010.



The balance sheet.

Of course the most interesting issue was the healthy cash flow. Cash balances increased by some 4.092 million.

And yeah, Analabs still had its 'investment in quoted securities'. It's worth some 14.786 million and it's property had been revalued to 90 million.

And regarding Coveright? This quarter it only contributed some 2.201 million to Analabs bottom line.

Er... do I have to put my disclaimer. I think I better. People do act rather strangely when it comes to stock markets! LOL!

Disclaimer
1. I am a nobody.
2. I am not responsible for anyone's investments.
3. I am not a sotong. :D
4. I am certainly not an independent investment advisor.
5. Since I am not an in dependant investment advisor, I cannot guarantee that you should lose money.
6. Most important, I find no motivation to talk about stock price movements. Yeah, I do not indulge in guessing what a stock price will or will not do. So please spare me all the chats that you think this stock will go down by so much or this stock will soar by so much.
7. Oh, if you insist, I am obsessive! :P

For the desperately in seek of the mighty tomato sauce...

In the Edge Financial Daily:

• Syabas may get tariff hike
  Written by Jose Barrock
  Tuesday, 28 September 2010 12:12
  
  KUALA LUMPUR: A water tariff hike of between 15% and 20% may be in the offing for Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), sources said.
  
  The increment would be a lifesaver for the water treatment players, Syarikat Pengeluar Air Sungai Selangor Holdings Bhd (Splash) and Konsortium Abass Sdn Bhd, which are both on the verge of defaulting on their debt commitments.
  
  Syabas has not paid the water treatment players, which supply the treated water, because the tariff hike that was scheduled to kick in early last year did not materialise.
  
  It is understood that the federal government has agreed in principle to the tariff hike for Syabas, but has yet to get the green light from the Selangor state government which is run by the opposition Pakatan Rakyat.
  
  Syabas has the mandate to supply treated water to Kuala Lumpur, Selangor and the federal capital of Putrajaya and under its concession agreement was supposed to get a 37% tariff hike last year.
  
  “The federal government has more or less agreed, it’s up to the state now. The situation is critical as the water players, the water treatment plant operators are in jeopardy,” a source told The Edge Financial Daily.
  
  It is not clear how Selangor will react to the new tariff hike as it had opposed the implementation of the 37% hike and attempted to terminate Syabas’ concession on the grounds that Syabas had not lived up to the main tenets of its concession, such as reducing the level of non-revenue water to 28% in 2008.
  
  However, the state may be agreeable to the lower tariff hike this time considering the adverse impact that the delay has had on the industry.
  
  Both Splash and Konsortium Abass are seeking legal redress against Syabas.
  
  Konsortium Abass is at loggerheads with Syabas, and sent an originating summons dated Oct 5, 2009 for about RM63 million for payment of electricity cost and purchase of water invoices, among others.
  
  Meanwhile, Splash initiated legal proceedings against Syabas in November last year, pressing for the payment of RM196 million for unpaid invoices from as far back as December 2008 to August 2009.
  
  As the water operators have not been receiving their payments, both Malaysian Rating Corp Bhd and RAM Ratings have downgraded all their debt papers.
  
  According to insiders, total bonds issued by the Selangor water players are in excess of RM6 billion.
  
  The federal government has been giving Syabas soft loans to help it sustain its operations. Industry players say the company utilised the loans to pay 50%-60% of its overdue payments to the water treatment companies.
  
  Under the current structure, water companies borrow short to finance long-term projects, which brings about the need for tariff increases every now and then.
  
  A thorn in the side of the industry and both the state and federal governments, has been the issue of the water players defaulting on their bonds.
  
  The other water treatment player in Selangor is Puncak Niaga (M) Sdn Bhd (PNSB). PNSB is wholly owned by Puncak Niaga Holdings Bhd. Puncak Niaga also has 70% equity interest in Syabas, which explains why PNSB is not seeking legal redress against Syabas.
  
  Puncak Niaga is 41.25% owned by businessman Tan Sri Rozali Ismail, who is said to be closely linked to Umno. The Barisan Nasional controlled Selangor prior to Pakatan Rakyat coming to power.
  
  The share price of Puncak Niaga was up five sen to RM2.85 yesterday.
  
  Konsortium Abass, meanwhile, is 55%-owned by Kumpulan Perangsang Selangor Bhd (KPS) and 45% by Operasi Murni Sdn Bhd.
  
  Splash’s shareholders are Gamuda Bhd, which has 40% equity interest, KPS (30%) and businessman Tan Sri Wan Azmi Wan Hamzah’s The Sweet Water Alliance Sdn Bhd (30%). KPS is a 60% unit of Selangor’s investment arm Kumpulan Darul Ehsan Bhd and has 30% equity interest in Syabas.
  
  Konsortium Abass manages the Sungai Semenyih Water Supply Scheme implemented by the Selangor government and supplies treated water to Syabas to distribute to southwest Kuala Lumpur, Petaling Jaya, Shah Alam, Klang, Putrajaya, Cyberjaya, Sepang, Puchong, Seri Kembangan, Bandar Baru Bangi, Kuala Langat and surrounding areas.
  
  The latest deadline for the consolidation of the water industry in Selangor is slated for year-end after several postponements, but most water players are not optimistic that such a consolidation can be concluded so soon due to the political factors.
  
  
  This article appeared in The Edge Financial Daily, September 28, 2010.

LOL!

Can you count all the 'according to source' , 'may', 'according to insiders' and 'it is understood'.

LOL!

Typical.

Take all those away, what does one get?

:-)

Credible information? Credible article of facts based on unknown source?

I still remember so much that article on the Sun: Credible information vs speculation.

ps: the Sun can so easily ask the Edge Financial Daily eh?

ps: Why Can't Our Financial News Have More Credible Information?

From the posting: Sep 28: Are Insiders Buying Or Selling?

• The net sum of all the buying and selling on the stock market is zero. The market doesn't notice who owns the shares.
  
  The market goes up and down according to a combination of perceived value and prevailing mood.
  
  In investing, a funny thing happens when prices are quoted minute-by-minute throughout the working day. People start to care less about the underlying value of the shares themselves and instead become fixated on where they think their prices are headed.
  
  And because a stock's underlying value will ultimately be realised, the net effect for all investors of buying a stock above its value will be a loss, while the net effect for all investors of buying a stock below its value will be a gain.
  
  We did have some fun here:
  
  http://fusioninvestor.blogspot.com/2008/07/blog-capsule-bullbear-vs-moolah-on.html

And ...

• From your post:
  
  Oracle ELJ: He exercised a share option of 10 million shares in Apr 2010 and sold these in Sept 2010. His pre and post-option exercise shares is about the same.
  
  Tiffany MPW: Has sold his shares in Mar 2009, Jan 2010 and Sept 2010. In all, sold down 11.7% of his initial holding.
  
  MHS DJP: Sold in Aug 2009 and Sept 22. He sold at the market price and then switched to exercise his share options at lower prices.
  
  MHS KL: (Did something quite similar to MHS DJP)
  
  Amazon VHB: Sold in Sept 2009 and Sept 2010 at market prices. Share options exercised at zero cost. Now holding slightly more shares (85,000) than before (80,000).
  
  Moolah,
  
  I would not get too excited over these insiders selling. There are many reasons for these. Some may not wish to be invested in their own company. Others may already have too many stocks in their own company. Perhaps, one of the above needed some money badly for various reasons.
  
  What do they do with the money after selling their shares? Perhaps, some have reinvested into the stock market in other shares.
  
  Eh.. it is interesting to highlight all these, but what is your point? :-)

LOL!

Quote: " it is interesting to highlight all these, but what is your point? :-)"

See this is where my small brains fails me.

If this was a DOWN market and all these transactions were PURCHASES instead of sales, what would be the interpretation?

And seriously, I have no point. LOL! :-)

All these are plain market facts. No extra coatings and what have we seen for 3 weeks in a row?

Think about it... the market is saying it's going up. The so-called charts are a nice uptrend but then for 3 weeks, insiders reckons it's a good time to sell. How would you want to interpret this? Me? I am nobody. I am lousy. I am obsessive. LOL!

All I did was highlight the facts and perhaps like the continuous equity mutual fund redemption, all these means nothing. :-)

And perhaps the 'negative mindset' are horribly wrong. Yeah, the short term market voting machine are saying they wrong because the markets are moving up. Hence these issues are irrelevant. Yeah, it doesn't matter what the fundamental reasonings. Most important is the market is saying they are wrong. It doesn't matter if these 'negative mindsets' understand why the market is completely rigged and fundamentally flawed. Yeah... it simply doesn't matter.

Anyway, let's look at Oracle again.

It was my intention to highlight the link to show who was selling and the past transactions made. No need to hide anything.

Anyway, let's look at Oracles's ELLISON LAWRENCE JOSEPH disposal of shares again.

Here's Oracle 'data' sheet from finviz.

http://www.finviz.com/quote.ashx?t=orcl

( nice eh? )

And the CEO, Ellison Lawrence Josesph reckons it's a good time to dispose a chunk of his shares at around a price of 27 bucks (according to Bloomberg article ). What was interesting to note is that on finviz's data compilation on Oracle was the Street's opinion on what the stock is worth. ( Wait, I know you understand that such opinion's such be discounted but as a brief indicator, the Street reckons the stock is worth much higher and just like the general market, the Street keeps telling everyone the market should move higher. :P )

The Street's views compiled..

• 27-Sep-10 Reiterated Barclays Capital Overweight $30 → $34
  
  17-Sep-10 Reiterated RBC Capital Mkts Outperform $28 → $32
  
  17-Sep-10 Reiterated FBR Capital Outperform $30 → $32
  
  17-Sep-10 Reiterated Caris & Company Buy $31 → $35
  
  17-Sep-10 Reiterated Barclays Capital Overweight $29 → $31

Yeah, they reckon Oracle should be worth above 30 bucks but apparently, the CEO reckons otherwise and voted with his feet.

And what was even better was that Oracle's CEO started selling on the 17 Sep, the very same day, four firms decided to uplift Oracle's target price. And yes, the gap up on the chart, happened on the 17 Sep! LOL!

ps: good or bad, I have no idea. Me just stating the facts. :D

ps: I get excited when I watch footy. Stocks and markets? They are a bore. :-)

ps: if I do get excited I do pole dancing! :-)

From Bloomberg: http://www.bloomberg.com/news/2010-09-27/weekly-insider-buying-and-selling-by-s-p-500-companies.html

From ZH: http://www.zerohedge.com/article/insider-selling-buying-surpasses-1400-1

Previous postings:

• Sep 21: Are Insiders Buying Or Selling?
• Are Insiders Buying Or Selling?

Top insider sale was Oracle. CEO disposing: http://www.finviz.com/insidertrading.ashx?oc=901999&tc=7

Next was Tiffany. http://www.finviz.com/insidertrading.ashx?oc=928264&tc=7

Next Medco: http://www.finviz.com/insidertrading.ashx?oc=1257287&tc=7http://www.finviz.com/insidertrading.ashx?oc=1387813&tc=7 (both option exercise and sale)

And then Amazon, where the biggest chunk came from Senior VP who does the option exercise and sale. http://www.finviz.com/insidertrading.ashx?oc=1193122&tc=7

On the UK Telegraph: http://www.telegraph.co.uk/finance/personalfinance/investing/shares-and-stock-tips/8023310/Private-investors-pile-back-into-stock-market.html

• Private investors pile back into stock market
  Investors traded £1.8bn of stock in the last six months as private shareholdings hit a two-year high.
  
  The six months to the end of August was the busiest trading period since 2007, according to Capita Registrars.
  
  The net buying over the summer coupled with the good performance of the market saw private investor shareholdings rise in value. At the end of August, they reached £163bn, up from £158bn at the end of May, and from a crisis low of just £108bn in December 2008.
  By the middle of September, market movements had taken their holdings even higher, rising to £173bn, the highest in two years. Not only that, but the proportion of the market in private investor hands also rose for the first time in two years, reaching 9.5pc, up from an all-time low of just 9.3pc in May 2010.
  
  Justin Cooper, chief operating officer at the firm, said: "Private investors bought heavily when the stock market bottomed out in spring 2009, anticipating the nadir of the recession. This year they did so again when the market dipped sharply in July, perhaps anticipating the brighter economic news that subsequently emerged about the strength of the recovery.
  
  "This followed profit taking in the spring when the stock market peaked. Once again, we have seen retail investors timing equity purchases astutely, buying on weakness and selling into strength."
  
  Capita Registrars said that between June and August, private investors bought £852m of defensive shares and sold £335m of cyclical shares. The most favoured sector was utilities, while resources stocks (including mining and oil shares) and financials were sold down. Industrials (which includes construction and manufacturing) and consumer

The following was posted on ZH: ( I love the trading volume chart highlighted in the posting from FT.com)





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Further Confirmation On The Irrelevance Of Stock Markets


Last week we pointed out that Jefferies group, one of the last few remaining non-BHC broker-dealers, has just experienced its single most disastrous drop in trading volumes, as its principal trading revenues plunged by 80% QoQ. This is merely confirmation of what we have been warning ever since we started highlighting the series of 20 consecutive outflows from domestic equity funds: banks will soon be forced to lay off thousands of people as the primary revenue driver for the bulk of Wall Street firms - stock volumes - is now gone. BofA and RBS have already confirmed they are letting people go. Next up: the electronic trading giants such as ITG, Knight and Schwab. And it will only get worse. As the FT reports, September trading volumes are already 8% below August's, which in turn was the lowest in 3 years! Of course, the Fed is fully confident that if the DJIA ends September at 11,000, investor confidence in stocks will return. We have one word for that - LOL.

From FT:

• The continuing decrease in volume reported by the US’s largest electronic trading groups has triggered a fear among analysts that the fall in market activity might be more than a seasonal phenomenon.
  
  Trading-focused groups such as ITG, Knight Capital and Charles Schwab enjoyed upbeat second quarters when the European debt crisis sparked extreme volatility. As fear has given way to unease with the global economy, however, trading volumes have fallen sharply.
  
  “You’re starting to see some real pain,” said Christopher Allen, an analyst at Ticonderoga Securities. “September is not a material improvement over August. Aside from possibly the US election, I’m not sure what the catalyst is for trading.” A record-long streak of outflows from equity mutual funds – now 20 successive weeks beginning in May, according to the Investment Company Institute – and reluctance by even normally bold hedge fund managers to take big bets has suggested that there are more than seasonal factors at work.
  
  Mr Allen’s figures, compiled last week, show that trades for the trading industry are down 8 per cent so far in September from August, when trading fell to a three-year low.

And what is funniest is that the decline in volume is blamed on the (lack of) intervention in the HFT's daily attempts to pickpocket slow money institutions

• Diego Perfumo, an analyst at Equity Research Desk, said that efforts by global regulators following the May “flash crash” were reducing volumes by high-speed firms, which was making it more difficult for other investors to trade.“Higher trading scrutiny combined with tighter regulation is drying up the liquidity provided by high- frequency traders. Lower liquidity is symbiotically affecting volumes from traditional investors,” he said

Oh really? Has anybody been affected by the "decline" in liquidity in SPY, Amazon or Apple? Last time we checked the only three products that trade had no problem with hitting bids (of course, front run several trillion times by $0.0001 bids just ahead of the submitted one to get the price high enough so that the last HFT bagholder can offload to you). Instead of lying, perhaps Diego and his firm, which incidentally makes money from the status quo and sees to lose millions should HFT scalping be impaired, as it seems the firm provides "Execution services from ITG, Credit Suisse, BNY and Instinet", but oddly enough the FT did not feel relevant to disclose this blatant conflict of interest, should look at the primary cause for volume collapse: that confidence in stock markets is gone, period. Nobody dares to hold stocks overnight, as nobody still has any clue why the market crashes 1,000 point in the span of a few seconds. If anyone hopes to revive faith in the stock market without someone getting punishment for the most ridiculous market crash since October 1987, they have another thing coming.

Wall Street may have gotten off scott free from the greatest absolute household wealth destruction episode in history, but when it comes to capital formation, pretty much everyone save for a few vacuum tubes, have had enough. And luckily, that means that worthless HFT, and other high volume parasite traders, will soon be out of a job. No tears will be shed as equilibrium reestablishes itself, and those providing absolutely no value to the stock market will become extinct. If the market will not self-correct, the market will be forced to self-correct.

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ahem...

• A record-long streak of outflows from equity mutual funds – now 20 successive weeks beginning in May, according to the Investment Company Institute – and reluctance by even normally bold hedge fund managers to take big bets has suggested that there are more than seasonal factors at work.

Even FT.com highlights this issue.

LOL!

Reply From Kokanart: Time To Highlight The Other Side Of Your Obsessive Focus

:-)

yeah: 20 Consecutive Weeks Of Fund Outflows And 71 Billion Withdrawn From Equity Funds