Friday, September 30, 2011

Poor Market Quarter Ends;MLB Playoffs Begin

The stock market was racked by massive volatility in the just-ended Q3.The CBOE VIX Volatility Index soared an amazing 159.32% over the the three months as investors fretted over debt fears both at home and abroad and consumers faced escalating food and health care costs,while gas remained stubbornly over 3.00 a gallon even though the summer driving season has come to an end.For the quarter,the Dow lost 12.1%,while the NASDAQ fell 12.91 and the S&P plummeted 14.1.
This financial gloom was relieved by an entertaining close to the Major League Baseball season-unless you are a Boston Red Sox or Atlanta Braves fan.Both teams created a lot of excitement as they dragged the wild card race out to the very end,both succumbing to ineptitude under pressure in the end.The Tampa Bay Rays and St.Louis Cardinals rallied into the playoffs instead,which began late Friday afternoon as the Rays clocked the Texas Rangers 9-0 in the American League Division Series.Rays catcher Kelly Shoppach hit two homers in the first game of the best of five series.The New York Yankees and the Detroit Tigers were tied 1-1 in the other American League match-up when the game was suspended for rain.They will resume play Saturday night.
Next week,the market will deal with manufacturing and service sector reports from the Institute for Supply Management,as well as Friday's unemployment numbers and continuing European drama.The S&P futures were having none of it Friday evening,cratering a further 30.30,while bond index futures rose.

Friday, September 23, 2011

Kim Delaney:A Mysterious Moment

Actress Kim Delaney had a rough night in her native Philadelphia,speaking at a tribute to former Defense Secretary Robert Gates.The teleprompter with her speech on it didn't work and she tried to improvise.This was deemed inapporpriate as it seemed to bother the audience.
The question is,was she just being creative or had she had too much alcohol,as she has done in the past?Some say she looked disheveled,but isn't that the latest style?When you're dealing with an artist,it's hard to say.
Kim Delaney ended up fascinating the media,but it isn't yet clear how the wider public will react to this episode.
There was no doubt about the stock market this week.It was the worst week since the financial crisis in 2008.The S&P was clipped by 6.54,while the Dow plunged 6.41 and the NASDAQ dove 5.30.
Gold futures caved 101.70,ending at 1637.30 an ounce.Traders were selling commodities off to make up for stock losses.Oil futures declined also,losing 0.66 to close at 79.85 a barrel.
The S&P futures were recovering by Friday evening.They hinted a 6.30 advance at Monday's opening bell.
Australian golfer Adam Scott scored a superb second round 8 under par 65 to earn the lead at the TOUR Championship by Coca-Cola,held at East Lake Golf Club in Atlanta.South Korea's K.J. Choi shot a slightly lesser 7 under par 65 for second position at this final leg of the PGA Playoffs for the FedEx Cup.

Kim Delaney Booted Off Stage at Liberty Medal Award Ceremony

Kim Delaney Booted Off Stage at Liberty Medal Award Ceremony: What’s wrong with Kim Delaney? The star of Lifetime’s “Army Wives” was kicked off stage at Philadelphia’s National Constitution Center Thursday night after delivering an inappropriate and at times incomprehensible speech at the Liberty Medal Award presentation to former defense secretary Robert Gates. Delaney stumbled to...

Friday, September 16, 2011

Minnesota Wilderness Still Burning

The Pagami Creek Fire remained in Active status Friday night on Superior National Forest,Minnesota.The wildland fire incident began on 18 August as a result of a lightning strike.It is primarily a creeping and smoldering fire,with some heavier burning in the interior.The fire has been 8% contained.It is approximately 100,000 acres in size.
Evacuations remain in effect for Lake and Cook Counties.The fire's potential for growth is Medium in the highly difficult terrain.Participating in the effort are 436 personnel;7 helicopters-four of them National Guard Black Hawks-and 8 fixed wing aircraft.Canadian aircraft have been assisting in the wildland firefighting.Ontario's Quetico Provincial Park is nearby.
Significant progress has been made in Division A of the fire,which has been brought down to the mopping up phase.Several roads in the incident area remain closed and campfires are prohibited,though recreational access is still possible at several entry points.It is a renowned site for backwoods canoeing.
The stock market had its best week since July,with five straight days of gains based on a vigorous effort by European leaders to contain the debt crisis.The S&P futures were up 7.50 on Friday evening,hinting at another positive move on Monday morning.
Barnes&Noble,the nation's last chain store bookseller,won an auction for the liquidated Borders website and brand name,sending the stock up a couple of percent.
Englishman Justin Rose and American Mark Wilson are tied for the lead at the BMW Championship,the third leg of the PGA Tour Playoffs for the FedEx Cup near Chicago.At the Navistar LPGA Classic in Prattville,Alabama,American Alexis Thompson tops the leader board,followed by compatriot Stacy Lewis and Becky Morgan of Wales,who are tied for second.The beneficiary of this year's tournament is the Wounded Warrior Project.
Wildland Fire Update:By Saturday evening,the Pagami Creek Fire on Superior National Forest was 11% contained.The number of personnel involved had risen to 565.A Canadian liaison had arrived and will remain at the incident.
Closures and evacuations remained in effect.The fire was primarily creeping and smoldering within the interior,with occasional torching of individual trees as well as groups in the increased S winds and very dry fuel conditions.
Division C of the fire had been placed in the mop up category along with Division A.Aircraft were extensively used to hold unstaffed Divisions in light of the more difficult fuel and wind conditions.

Friday, September 9, 2011

Lee Leaves Off;Market Craters

The remnants of Tropical Storm Lee have left off torturing the Mid-Atlantic region after nearly a week,the sun and then the moon making a belated appearance,saving the sanity of the region's harried residents.At least 12 deaths resulted from T.S. Lee's effects,with the Susquehanna basin being seriously shaken by flooding.The storm was blocked from exiting the area for some time by Hurricane Katia,which is moving northward well off the east coast.
There were still some flash flood advisories from thunderstorms in Pennsylvania until 3am,however.
The stock market was not so fortunate on Friday,with Euro debt anxiety still in the forefront of traders' thinking,as well as concern that the Federal Reserve may not be offering supportive measures anytime soon.For the week,the Dow and S&P slid 2.7%,while the NASDAQ retreated 0.5%.The CBOE VIX volatility index rose 4.20 to 38.52.
Next week will see the release of inflation data,as well as the Empire State and Philly Fed manufacturing surveys,plus industrial production and retail sales figures.
The S&P futures fell a further 27.70 Friday evening,and bond index futures continued to strengthen.Oil was down 1.81 to 87.24 a barrel,while gold rose 1.90 to 1857.10 an ounce.
The Baltimore Orioles downed the Toronto Blue Jays 2-0 at Rogers Centre in Toronto Friday night.It was the first of the three final games of the season between the divisional rivals and bird-themed ballclubs of the American League East.

Friday, September 2, 2011

Matteson Leads Deutsche Bank Championship

American golfer Troy Matteson leads the Deutsche Bank Championship after the first round on Friday.Matteson,31,shot an excellent six under par 65 as the second leg of the PGA Tour Playoffs for the FedEx Cup got underway near Boston.Dustin Johnson won the first leg last weekend,The Barclays.
Finishing second on the leader board Friday were American Jerry Kelly;South Korean Y.E. Yang;England's Luke Donald,the world number one;and South African Charl Schwartzel.These all shot a five under par 66.
Matteson,the leader,is a product of Georgia Tech.This year,he has two top ten finishes on the PGA Tour to his credit.His earnings amount to 916,012 dollars so far,ranking him 91 on the money list.
Unlike Matteson,the market had a poor Friday and a negative week,hindered by a flat jobs report and renewed European debt concerns.The S&P 500 Index was down 2.48 for the week.
Stock futures were decidedly negative Friday evening,suggesting a rough opening on Tuesday after the Labor Day holiday.The S&P futures plummeted 32.0,while the longer bond index futures climbed.Gold futures rocketed to 1876.90 an ounce,but oil fell to 86.45 a barrel on recession fears.