They have an approved plan to sell General Motors assets. China is taking big steps to Yuan internationalization as they have been doing for the past few years or longer. President Obama goes to Russia to reset relations. BOJ chief Shirakawa says Japan corporate finance still tight. Alcoa is supposed to report a losing quarter, and FedEx is seeing signs of a turnaround. I’m hearing to get into defensive and high yielding dividend stocks again, and that inflation is real and its time to buy long gold positions again. The pre-market futures are pointing down currently.
My Stock Pick This Week
It’s a sell on a big UK broadcasting company that’s also involved in broadband and telephony services. This company is getting ready to defend a plan to redistribute public funding that could go to its rivals. The proposed law by the ruling Labour Party may allow even more attempts at redistribution of funds to it’s competitor rivals. The companies premium sports and movie channels should be more broadly available through other television platforms, Britain's communications regulator said last Friday, adding that it may force a wholesale offer of the services. The UK communication dept said it believes BSkyB is limiting distribution of these channels to rival TV platforms, thereby restricting consumer choice. ESPN has just bought U.K. broadcast rights to some games from England's Barclays Premier League, giving the U.S. sports-TV network a long-sought boost in Britain but pitting it against this tough rival.
Sell-Short British Sky Broadcasting. Ticker BSY
Sell Entry: 30.58 to 29.72
Take Profit Areas: 28.86 to 27.14, 22.98 to 22.09, 21.28 to 20.46, 17.06 to 16.40,
British Sky Broadcasting Company Profile
British Sky Broadcasting Group plc and its subsidiaries operate a pay television broadcast service in the United Kingdom and Ireland, as well as broadband and telephony services. The Company acquires and commission programming to broadcast on its own channels and supply certain of those channels to cable operators for retransmission by the cable operators to their subscribers in the United Kingdom and Ireland. British Sky Broadcasting Group plc retails channels (both its own and third parties) to direct-to-home (NYSEARCA:DTH) subscribers and certain of its own channels to a limited number of digital subscriber line (NYSE:DSL) subscribers. The Company also makes three of its channels available free-to-air through the United Kingdom digital terrestrial television (NYSE:DTT) platform as part of the branded Freeview offering. It operates principally within the United Kingdom and Ireland, with activities conducted primarily from the United Kingdom. On September 5, 2007, the Company purchased Amstrad Plc.
Position Disclosure: Going short based on our trade plan above
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