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    <title>MitchSand's Instablog</title>
    <description>Founder of Mitch Financial</description>
    <author>
      <name>MitchSand</name>
    </author>
    <link>http://seekingalpha.com</link>
    <item>
      <title>How To Handle A Couple Different Problems You Might Run Into</title>
      <link>http://seekingalpha.com/instablog/3032711-mitchsand/974821-how-to-handle-a-couple-different-problems-you-might-run-into?source=feed</link>
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        <![CDATA[<p>Now there are a couple different problems you might (or should I say will) run into when investing in stocks:</p><ul><li>The price keeps rising and I want the most income I can get, when do I sell?</li><li>The price keeps falling and I want a discounted price, when do I buy?</li><li>The price doesn't seem to be moving much and I don't know what it will do next, what do I do?</li></ul><p>Now all of these are very good questions and will pop into your head many times. Now instead of tell you in one paragraph the answer to all of them, I'm going to give you 3 paragraphs and many different answers, so get ready:</p><ol><li>(The price keeps rising and I want the most income I can get, when do I sell?) Now this is the most common of the three questions because it is impossible to tell when you have the stock price at its peek. But think about it, will an extra $25 do you any good in the long run, not really (its not enough to buy a car or house, maybe a nice dress or suit). So why worry about getting that small extra $25 and sell when it looks like a good amount of income.</li><li>(The price keeps falling and I want a discounted price, when do I buy?) This one is a little easier to answer: (1) You can buy the stock when some good news comes out about it or earnings or (2) You can DCA. Now if you don't know what DCA is I will explain it too you: DCA or Dollar Cost Averaging is simple, first you invest in a stock (lets say 25 shares of Wells Fargo (WFC) at $30) you invested $750 in that stock. Now two things can happen (1) The price will drop to $25 after you buy it. Then you invest $750 worth of the $25 share of Wells Fargo. If it goes up to $35 then do the same thing with $35 shares. This will cut your loses in half if you have any, but will do nothing too your gains if you have any.</li><li>(The price doesn't seem to be moving much and I don't know what it will do next, what do I do?) Hold the stock.</li></ol><p>Now these problems might not seem so complicated, pretty much all you have to do is stay calm and make good decisions, because if you are stressed and worried about the stock and try the make a big decision on it you will be putting more stress on yourself and most-likely make a bad decision.</p>]]>
      </content>
      <pubDate>Thu, 16 Aug 2012 19:04:30 -0400</pubDate>
      <description>
        <![CDATA[<p>Now there are a couple different problems you might (or should I say will) run into when investing in stocks:</p><ul><li>The price keeps rising and I want the most income I can get, when do I sell?</li><li>The price keeps falling and I want a discounted price, when do I buy?</li><li>The price doesn't seem to be moving much and I don't know what it will do next, what do I do?</li></ul><p>Now all of these are very good questions and will pop into your head many times. Now instead of tell you in one paragraph the answer to all of them, I'm going to give you 3 paragraphs and many different answers, so get ready:</p><ol><li>(The price keeps rising and I want the most income I can get, when do I sell?) Now this is the most common of the three questions because it is impossible to tell when you have the stock price at its peek. But think about it, will an extra $25 do you any good in the long run, not really (its not enough to buy a car or house, maybe a nice dress or suit). So why worry about getting that small extra $25 and sell when it looks like a good amount of income.</li><li>(The price keeps falling and I want a discounted price, when do I buy?) This one is a little easier to answer: (1) You can buy the stock when some good news comes out about it or earnings or (2) You can DCA. Now if you don't know what DCA is I will explain it too you: DCA or Dollar Cost Averaging is simple, first you invest in a stock (lets say 25 shares of Wells Fargo (WFC) at $30) you invested $750 in that stock. Now two things can happen (1) The price will drop to $25 after you buy it. Then you invest $750 worth of the $25 share of Wells Fargo. If it goes up to $35 then do the same thing with $35 shares. This will cut your loses in half if you have any, but will do nothing too your gains if you have any.</li><li>(The price doesn't seem to be moving much and I don't know what it will do next, what do I do?) Hold the stock.</li></ol><p>Now these problems might not seem so complicated, pretty much all you have to do is stay calm and make good decisions, because if you are stressed and worried about the stock and try the make a big decision on it you will be putting more stress on yourself and most-likely make a bad decision.</p>]]>
      </description>
      <category type="symbol" link="http://seekingalpha.com/instablog/tag/Investing">Investing</category>
    </item>
    <item>
      <title>Jobless Claims, International Trade, Import And Export Prices, And Treasury Budget Consensus'</title>
      <link>http://seekingalpha.com/instablog/3032711-mitchsand/947461-jobless-claims-international-trade-import-and-export-prices-and-treasury-budget-consensus?source=feed</link>
      <guid isPermaLink="false">947461</guid>
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        <![CDATA[<p><strong>International Trade:</strong></p><ul><li>The U.S. international trade gap in May narrowed, thanks largely to lower oil prices. The trade deficit narrowed to $48.7 billion from $50.6 billion in April. Exports rose 0.2 percent, following a 0.9 percent decline in April. Imports fell 0.7 percent after a 1.6 percent drop the prior month. The narrowing in the trade gap was led by the petroleum goods gap which shrank sharply to $24.9 billion from $28.1 billion in April. In contrast, the non-petroleum goods deficit expanded a little to $37.9 billion in May from $36.7 billion the month before. The services surplus improved to $14.8 billion from $14.6 billion.</li></ul><p><strong>Jobless Claims:</strong></p><ul><li>Initial jobless claims rose 8,000 in the July 28 week in what was the smallest change after three weeks of severe volatility tied to adjustment for summer auto retooling. The latest level of 365,000 was right in line with the 4-week average of 365,500 which offers an interesting gauge for the full-month July to June comparison, and this comparison, which was down more than 20,000 from the late June average, points to improvement in the labor market. Continuing claims in data for the July 21 week fell 19,000 to 3.272 million with the 4-week average down 11,000 to 3.299 million for the lowest reading since early June.</li></ul><p><strong>Import and Export Prices:</strong></p><ul><li>Import prices fell a steep 2.7 percent in June following a downwardly revised 1.2 percent plunge in May and a 0.1 percent decline in April. The decline in June was the steepest of the recovery. The export side, where the headline in minus 1.7 percent, was very similar with a 4.0 percent monthly plunge in agricultural exports a heavy negative.</li></ul><p><strong>Treasury Budget:</strong></p><ul><li>The U.S. Treasury monthly budget report showed a June deficit at $59.7 billion. Receipts were up while growth in spending was down, making for a 6.8 percent decline in the nation's deficit 9 months into government's fiscal year. When excluding special factors, such as calendar timings for government payments, the deficit was down 12.7 percent. Looking ahead, the month of July historically shows a deficit for the month. Over the past 10 years, the average deficit for the month of July has been $72.2 billion and $103.6 billion over the past 5 years. The July 2011 deficit came in at $129.4 billion.</li></ul><p>~<a href="http://mitchsand08.wix.com/mitchfinance" target="_blank" rel="nofollow">Mitch Financial</a></p>]]>
      </content>
      <pubDate>Wed, 08 Aug 2012 22:19:55 -0400</pubDate>
      <description>
        <![CDATA[<p><strong>International Trade:</strong></p><ul><li>The U.S. international trade gap in May narrowed, thanks largely to lower oil prices. The trade deficit narrowed to $48.7 billion from $50.6 billion in April. Exports rose 0.2 percent, following a 0.9 percent decline in April. Imports fell 0.7 percent after a 1.6 percent drop the prior month. The narrowing in the trade gap was led by the petroleum goods gap which shrank sharply to $24.9 billion from $28.1 billion in April. In contrast, the non-petroleum goods deficit expanded a little to $37.9 billion in May from $36.7 billion the month before. The services surplus improved to $14.8 billion from $14.6 billion.</li></ul><p><strong>Jobless Claims:</strong></p><ul><li>Initial jobless claims rose 8,000 in the July 28 week in what was the smallest change after three weeks of severe volatility tied to adjustment for summer auto retooling. The latest level of 365,000 was right in line with the 4-week average of 365,500 which offers an interesting gauge for the full-month July to June comparison, and this comparison, which was down more than 20,000 from the late June average, points to improvement in the labor market. Continuing claims in data for the July 21 week fell 19,000 to 3.272 million with the 4-week average down 11,000 to 3.299 million for the lowest reading since early June.</li></ul><p><strong>Import and Export Prices:</strong></p><ul><li>Import prices fell a steep 2.7 percent in June following a downwardly revised 1.2 percent plunge in May and a 0.1 percent decline in April. The decline in June was the steepest of the recovery. The export side, where the headline in minus 1.7 percent, was very similar with a 4.0 percent monthly plunge in agricultural exports a heavy negative.</li></ul><p><strong>Treasury Budget:</strong></p><ul><li>The U.S. Treasury monthly budget report showed a June deficit at $59.7 billion. Receipts were up while growth in spending was down, making for a 6.8 percent decline in the nation's deficit 9 months into government's fiscal year. When excluding special factors, such as calendar timings for government payments, the deficit was down 12.7 percent. Looking ahead, the month of July historically shows a deficit for the month. Over the past 10 years, the average deficit for the month of July has been $72.2 billion and $103.6 billion over the past 5 years. The July 2011 deficit came in at $129.4 billion.</li></ul><p>~<a href="http://mitchsand08.wix.com/mitchfinance" target="_blank" rel="nofollow">Mitch Financial</a></p>]]>
      </description>
      <category type="symbol" link="http://seekingalpha.com/instablog/tag/Economy">Economy</category>
    </item>
    <item>
      <title>Independent Oil &amp; Gas Rating Reports</title>
      <link>http://seekingalpha.com/instablog/3032711-mitchsand/777821-independent-oil-gas-rating-reports?source=feed</link>
      <guid isPermaLink="false">777821</guid>
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        <![CDATA[<p>Occidental Petroleum Corp (OXY)- A: First and maybe the most important part of rating a stock you need to look at the stocks growth over time. And the thing you look for when looking at growth is revenue and net income growth. This company has great growth in revenue with the last five years going; 20.0B, 24.5B, 15.5B, 19.1B, and last year 24.1B. Though you do see a drop in 2009 you have to remember that was when we were having a depression so you can't expect a stock to keep its revenue up. Then for sales you see the exact same trend so I'm not going to show you the numbers. We rate these fundamental numbers: A</p><p>Next after fundamental we have technical analysis. The stock over the past 6 months has been having a trend downward but it is starting to come out of that decline. But because of the decline over the last 6 months we rate the technical strength of the company: BB.</p><p>Apache Corp (APA)- BBB: First we looked into the fundamental strength of the company (ticker: APA). We rate if by the growth of the company over the past few years. The main two fundamental ratios we look at and are the biggest part of test is the growth of revenue and net income. The company has had very good revenue and net income growth and had recollected itself after the fall in 2009 during the depression. And this is the same story with the net income. Revenue 5yr growth: 2007-10B, 2008-12.4B, 2009-8.6B, 2010-12.1B, 2011-16.9. So as you can see it has shown great revenue growth and for that reason we rated the fundamental strength: AA</p><p>Next we looking into the technical strength of the company (ticker: APA). The stock has showed much volatility over the past year and is at the bottom of one of the wavelengths so I believe it﻿will go up again. Rating for technical strength: BBB</p><p>Anadarko Petroleum Corp (APC)- CCC: First we need to rate the fundamental strength of the stock (ticker: APC). The biggest part of this test come from the growth of revenue an net income. Over the past 5 years the revenue growth has been gone, the revenue per year has been DECREASING! Now this is very bad for a company to have. Now thought it did fall after the 2009 depression, it hasn't been correcting itself up again to the level it was in 2007 and 2008 and even then there was a decrease in revenue from 2007 to 2008. Because of this we rate the fundamentals of the company: CCC</p><p>Next we rate the technical strength of the stock (ticker: APC). For the past 9 months the stock price has been declining fast and it doesn't seem to be stopping soon. Though it did start to go up at the beginning of June, it has been falling ever since. This seems to look like it will continue so I will rate the stock for technical strength: CC</p><p>Devon Energy Corp (DVN)- AAA: First we need to rate the fundamental strength of the company (ticker: DVN). The stock had great growth in revenue from 2007 to 2008 then took a big dip in 2009 when the depression struck. But that hurt the company more than most because the size and products they sell cost lots and aren't daily buys. Also it is usually a government buying, but this company is based in the US and the US is going under depression and can't afford to buy from them. This is why they took the big dip then. But from 2009 to 2010 the company made a big correction and kept that going till 2011 but is still under the 2008 revenue. But when putting all those facts in there we rated the fundamental strength of the company: AA</p><p>Next we test the technical strength of the company (ticker: DVN). As most stocks in the industry, it has been going down for the past 6 months, but at a slower pace than most. It is starting to come back up and this has been going on for 1 and 1/2 months. This will probably lead to an increase in the price for the next 6 months. Using this research, we rate the technical strength of this stock: AAA</p><p>Source: <a href="http://mitchsand08.wix.com/mitchfinance" target="_blank" rel="nofollow">Mitch Financial</a></p>]]>
      </content>
      <pubDate>Sun, 24 Jun 2012 16:02:10 -0400</pubDate>
      <description>
        <![CDATA[<p>Occidental Petroleum Corp (OXY)- A: First and maybe the most important part of rating a stock you need to look at the stocks growth over time. And the thing you look for when looking at growth is revenue and net income growth. This company has great growth in revenue with the last five years going; 20.0B, 24.5B, 15.5B, 19.1B, and last year 24.1B. Though you do see a drop in 2009 you have to remember that was when we were having a depression so you can't expect a stock to keep its revenue up. Then for sales you see the exact same trend so I'm not going to show you the numbers. We rate these fundamental numbers: A</p><p>Next after fundamental we have technical analysis. The stock over the past 6 months has been having a trend downward but it is starting to come out of that decline. But because of the decline over the last 6 months we rate the technical strength of the company: BB.</p><p>Apache Corp (APA)- BBB: First we looked into the fundamental strength of the company (ticker: APA). We rate if by the growth of the company over the past few years. The main two fundamental ratios we look at and are the biggest part of test is the growth of revenue and net income. The company has had very good revenue and net income growth and had recollected itself after the fall in 2009 during the depression. And this is the same story with the net income. Revenue 5yr growth: 2007-10B, 2008-12.4B, 2009-8.6B, 2010-12.1B, 2011-16.9. So as you can see it has shown great revenue growth and for that reason we rated the fundamental strength: AA</p><p>Next we looking into the technical strength of the company (ticker: APA). The stock has showed much volatility over the past year and is at the bottom of one of the wavelengths so I believe it﻿will go up again. Rating for technical strength: BBB</p><p>Anadarko Petroleum Corp (APC)- CCC: First we need to rate the fundamental strength of the stock (ticker: APC). The biggest part of this test come from the growth of revenue an net income. Over the past 5 years the revenue growth has been gone, the revenue per year has been DECREASING! Now this is very bad for a company to have. Now thought it did fall after the 2009 depression, it hasn't been correcting itself up again to the level it was in 2007 and 2008 and even then there was a decrease in revenue from 2007 to 2008. Because of this we rate the fundamentals of the company: CCC</p><p>Next we rate the technical strength of the stock (ticker: APC). For the past 9 months the stock price has been declining fast and it doesn't seem to be stopping soon. Though it did start to go up at the beginning of June, it has been falling ever since. This seems to look like it will continue so I will rate the stock for technical strength: CC</p><p>Devon Energy Corp (DVN)- AAA: First we need to rate the fundamental strength of the company (ticker: DVN). The stock had great growth in revenue from 2007 to 2008 then took a big dip in 2009 when the depression struck. But that hurt the company more than most because the size and products they sell cost lots and aren't daily buys. Also it is usually a government buying, but this company is based in the US and the US is going under depression and can't afford to buy from them. This is why they took the big dip then. But from 2009 to 2010 the company made a big correction and kept that going till 2011 but is still under the 2008 revenue. But when putting all those facts in there we rated the fundamental strength of the company: AA</p><p>Next we test the technical strength of the company (ticker: DVN). As most stocks in the industry, it has been going down for the past 6 months, but at a slower pace than most. It is starting to come back up and this has been going on for 1 and 1/2 months. This will probably lead to an increase in the price for the next 6 months. Using this research, we rate the technical strength of this stock: AAA</p><p>Source: <a href="http://mitchsand08.wix.com/mitchfinance" target="_blank" rel="nofollow">Mitch Financial</a></p>]]>
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      <category type="symbol" link="http://seekingalpha.com/symbol/oxy/instablogs">oxy</category>
      <category type="symbol" link="http://seekingalpha.com/symbol/apa/instablogs">apa</category>
      <category type="symbol" link="http://seekingalpha.com/symbol/apc/instablogs">apc</category>
      <category type="symbol" link="http://seekingalpha.com/symbol/dvn/instablogs">dvn</category>
      <category type="symbol" link="http://seekingalpha.com/instablog/tag/Rating Reports">Rating Reports</category>
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    <item>
      <title>Stocks To Buy</title>
      <link>http://seekingalpha.com/instablog/3032711-mitchsand/775311-stocks-to-buy?source=feed</link>
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        <![CDATA[<u><strong>Stocks To Buy:</strong></u><p><br><b>LivePerson Inc (LPSN)</b> - Stock with lots of price growth over the past year and it has great management. Also the revenue is growing steadily. It has high ratings which means people will invest in it. Also the PE is in a discounted range.</p><p><b>Accenture Inc (ACN)</b> - Stock with price growth that shows good trends over the past year. It is a company advisor team which brings in lots of money which also has growth with the cash. And very important is that it has Grade A efficiency when comparing net income per employee.</p><p><b>Church &amp; Dwight Co (CHD)</b> - This stock 3 years ago was unheard of and now it is a large cap company. This shows great growth over the past 3 to 5 years. It has performance that destroys its sector. It rating is A+ on TheStreet, 5-star on Morningstar, and A3 on Moody's. Its PE ratio is at a nice discount level.</p><p><b>Wells Fargo (WFC)</b> - This stock is the stock to buy because of its latest news that it became the #1 mortgage lender. This has boosted revenue bringing it to great growth and has put the company at a discounted price.</p><p><b>American Tower (AMT)</b> - The best price growth out of any stock in its sector. The perfect 12 PE. Trending on the price is at a very high upward position. Management that is just amazing and this also includes its efficiency. And performance in cash is through the roof. I rate it a 1-buy; or A+. I think it is the stock to buy.</p>]]>
      </content>
      <pubDate>Sat, 23 Jun 2012 09:56:13 -0400</pubDate>
      <description>
        <![CDATA[<u><strong>Stocks To Buy:</strong></u><p><br><b>LivePerson Inc (LPSN)</b> - Stock with lots of price growth over the past year and it has great management. Also the revenue is growing steadily. It has high ratings which means people will invest in it. Also the PE is in a discounted range.</p><p><b>Accenture Inc (ACN)</b> - Stock with price growth that shows good trends over the past year. It is a company advisor team which brings in lots of money which also has growth with the cash. And very important is that it has Grade A efficiency when comparing net income per employee.</p><p><b>Church &amp; Dwight Co (CHD)</b> - This stock 3 years ago was unheard of and now it is a large cap company. This shows great growth over the past 3 to 5 years. It has performance that destroys its sector. It rating is A+ on TheStreet, 5-star on Morningstar, and A3 on Moody's. Its PE ratio is at a nice discount level.</p><p><b>Wells Fargo (WFC)</b> - This stock is the stock to buy because of its latest news that it became the #1 mortgage lender. This has boosted revenue bringing it to great growth and has put the company at a discounted price.</p><p><b>American Tower (AMT)</b> - The best price growth out of any stock in its sector. The perfect 12 PE. Trending on the price is at a very high upward position. Management that is just amazing and this also includes its efficiency. And performance in cash is through the roof. I rate it a 1-buy; or A+. I think it is the stock to buy.</p>]]>
      </description>
      <category type="symbol" link="http://seekingalpha.com/symbol/lpsn/instablogs">lpsn</category>
      <category type="symbol" link="http://seekingalpha.com/symbol/wfc/instablogs">wfc</category>
      <category type="symbol" link="http://seekingalpha.com/symbol/acn/instablogs">acn</category>
      <category type="symbol" link="http://seekingalpha.com/symbol/chd/instablogs">chd</category>
      <category type="symbol" link="http://seekingalpha.com/symbol/amt/instablogs">amt</category>
      <category type="symbol" link="http://seekingalpha.com/instablog/tag/Stocks To Buy">Stocks To Buy</category>
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    <item>
      <title>When Should I Sell An Underperforming Stock?</title>
      <link>http://seekingalpha.com/instablog/3032711-mitchsand/775301-when-should-i-sell-an-underperforming-stock?source=feed</link>
      <guid isPermaLink="false">775301</guid>
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        <![CDATA[<strong>When Should I Sell An Underperforming Stock?</strong><p>A stock is going to fall over a short period of time maybe but if it is falling over months and years then you know you have a bad investment in your portfolio. Now when you have an underperforming stock in your portfolio, you act like it has a contagious disease, you don't want to touch it. What you need to do is get the person out of your house. Because if you just leave the stock there it might get worse or better but you don't want to risk it getting any worse, or the disease spreading. But you might want to do some research on the stock to see if you think from there it will go up again before you sell it. If it doesn't look like it is going to get better sell it, if it looks like it is going to get better hold it. Simple, right! Or another thing you can look at is the fact if it is going to have a dividend soon. If so then hold the stock till after the ex-dividend date and then sell it if you don't think it will continue to go up. Now all these come as factors on whether to hold an underperforming stock or sell it.</p>]]>
      </content>
      <pubDate>Sat, 23 Jun 2012 09:54:43 -0400</pubDate>
      <description>
        <![CDATA[<strong>When Should I Sell An Underperforming Stock?</strong><p>A stock is going to fall over a short period of time maybe but if it is falling over months and years then you know you have a bad investment in your portfolio. Now when you have an underperforming stock in your portfolio, you act like it has a contagious disease, you don't want to touch it. What you need to do is get the person out of your house. Because if you just leave the stock there it might get worse or better but you don't want to risk it getting any worse, or the disease spreading. But you might want to do some research on the stock to see if you think from there it will go up again before you sell it. If it doesn't look like it is going to get better sell it, if it looks like it is going to get better hold it. Simple, right! Or another thing you can look at is the fact if it is going to have a dividend soon. If so then hold the stock till after the ex-dividend date and then sell it if you don't think it will continue to go up. Now all these come as factors on whether to hold an underperforming stock or sell it.</p>]]>
      </description>
      <category type="symbol" link="http://seekingalpha.com/instablog/tag/Investing Help">Investing Help</category>
    </item>
    <item>
      <title>FYI-Global</title>
      <link>http://seekingalpha.com/instablog/3032711-mitchsand/775281-fyi-global?source=feed</link>
      <guid isPermaLink="false">775281</guid>
      <content>
        <![CDATA[FYI-Global<p><br>Highlights<br>June 18, 2012<br>Greek election, second round results</p><p>Sunday's second round of parliamentary elections saw a narrow and inconclusive victory for the pro-bailout New Democracy party which, with almost all of the votes counted, received a 29.7 percent share. Second was the anti-bailout Syriza party (26.9 percent) while the socialist Pasok (12.3 percent) trailed in a distant third.</p><p>This means that New Democracy will again have to seek the support of at least one other political party if it is to form the new government. To this end, another New Democracy/Pasok coalition would yield 162 seats, or 11 more than the 151 needed to achieve a majority and this appears to be the most likely scenario with Syriza again leading the opposition group.</p><p>New Democracy leader Samaras will meet President Karolos this morning and will be given three days to form the new administration.</p><p>Sunday's results remove the immediate threat of Greek ejection from the Eurozone and other EMU governments and financial markets have accordingly responded positively. However, while the vote can certainly be seen as indicative of a Greek desire to remain in EMU, in no way should it be viewed as supportive of the tough austerity measures that accompanied the 2010 and 2011 international bailout packages.</p><p>In fact, it was the divisions over the same austerity measures that prevented New Democracy and Pasok from forming a coalition government following the May poll. Indeed, Pasok leader Venizelos has already signalled that he will not join any coalition that does not include Syriza and there will be no doubt several days of political horse-trading that will keep financial markets volatile.</p><p>Worst case for the markets would have been a Syriza victory that would virtually have guaranteed that Greece would have to leave the single currency. That has been avoided but in its place is a less than convincing outcome whose long-term durability is highly questionable. Such suspicions are reflected in the fact that some political commentators are already speculating on yet more elections just around the corner.</p><p>In the meantime, the caretaker government has indicated that it has only enough cash to last a few weeks and still needs to find some E11.7 billion of spending cuts this month in order to qualify for the next EU/IMF loan instalment. The bottom line is that once the dust has died down, Greece will remain firmly on financial markets' radar alongside the likes of Italy and, particularly at the moment, Spain.</p>]]>
      </content>
      <pubDate>Sat, 23 Jun 2012 09:53:39 -0400</pubDate>
      <description>
        <![CDATA[FYI-Global<p><br>Highlights<br>June 18, 2012<br>Greek election, second round results</p><p>Sunday's second round of parliamentary elections saw a narrow and inconclusive victory for the pro-bailout New Democracy party which, with almost all of the votes counted, received a 29.7 percent share. Second was the anti-bailout Syriza party (26.9 percent) while the socialist Pasok (12.3 percent) trailed in a distant third.</p><p>This means that New Democracy will again have to seek the support of at least one other political party if it is to form the new government. To this end, another New Democracy/Pasok coalition would yield 162 seats, or 11 more than the 151 needed to achieve a majority and this appears to be the most likely scenario with Syriza again leading the opposition group.</p><p>New Democracy leader Samaras will meet President Karolos this morning and will be given three days to form the new administration.</p><p>Sunday's results remove the immediate threat of Greek ejection from the Eurozone and other EMU governments and financial markets have accordingly responded positively. However, while the vote can certainly be seen as indicative of a Greek desire to remain in EMU, in no way should it be viewed as supportive of the tough austerity measures that accompanied the 2010 and 2011 international bailout packages.</p><p>In fact, it was the divisions over the same austerity measures that prevented New Democracy and Pasok from forming a coalition government following the May poll. Indeed, Pasok leader Venizelos has already signalled that he will not join any coalition that does not include Syriza and there will be no doubt several days of political horse-trading that will keep financial markets volatile.</p><p>Worst case for the markets would have been a Syriza victory that would virtually have guaranteed that Greece would have to leave the single currency. That has been avoided but in its place is a less than convincing outcome whose long-term durability is highly questionable. Such suspicions are reflected in the fact that some political commentators are already speculating on yet more elections just around the corner.</p><p>In the meantime, the caretaker government has indicated that it has only enough cash to last a few weeks and still needs to find some E11.7 billion of spending cuts this month in order to qualify for the next EU/IMF loan instalment. The bottom line is that once the dust has died down, Greece will remain firmly on financial markets' radar alongside the likes of Italy and, particularly at the moment, Spain.</p>]]>
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      <category type="symbol" link="http://seekingalpha.com/instablog/tag/FYI">FYI</category>
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