Wednesday, April 16, 2008

NY State Approves 'Amazon Tax'

Bill requires online retailers to collect a sales tax on items purchased by state residents.

It was only a matter of time I guess before one of the states in the Union decided to try and tax the internet. New York State legislators, not alone in a perennial state budget deficit, have decided that the state should start requiring online retailers to collect the sales tax on items they ship there.

Dubbed the "Amazon Tax," the bill is now awaiting the signature of the new governor David Patterson. Considering that he's a Democrat a signature is most likely a mere formality.

"This is a first step - but a critical one - in our ongoing battle to level the sales tax playing field between New York retailers and the out-of-state Internet giants that have, for years, capitalized on an unfair and unintended competitive advantage driven solely by tax policy," said James Sherin, president and CEO of the Retail Council of New York.

Considering that Amazon is really just a huge online Wal-Mart, minus the $2 polos of course, is there really even a retailer playing field left anymore that Wal-Mart hasn't paved?

For its part the state Business Council has voiced its displeasure with the legislation.

"Albany invented the tax because they failed to cut spending," said the council's Heather Briccetti. "As long as they don't recognize the economic reality and continue to increase state spending, they'll keep inventing new taxes like this one."

Amazon plans to fight any plan to make it potentially raise its prices by 8% for NY state customers. The state counters that it and other online retailers could face audits and bills for back taxes going back years unless they agree to start collecting sales tax for the state by June 1.

Either way, the matter won't be settled any time soon.

NY State Approves 'Amazon Tax'

YouTube - Amero & North American Union

New video on the amero and the north american union.
Get ready for your one world government.

YouTube - Amero

Gold and silver manipulation

On the surface, there was nothing particularly remarkable in the latest Commitment of Traders Report (COT). For positions held, as of the close of business April 8, there was little change in the total net commercial short position in either COMEX silver or gold futures from the week before. Basically, the commercials, as a group, have bought back around 14,000 net contracts in silver (70 million ounces) and 50,000 contracts in gold (5 million ounces), on the engineered sell-off over the past few weeks.

-readers of my blog will remember previous posts while the precious metal markets were selling off(manipulated) recently. i warned this is an engineered sell off and to sit tight and stay long. the long term technical trend is up, the fundamentals are excellent etc etc.
previous posts on 3-24-08

excellent full article here:
Super Concentration -

Pre Market Trading Gap Indications

Gapping up in reaction to strong earnings/guidance: SORC +24.1%, BMI +17.6%, INTC +7.6%, ZOLT +6.4%, WFC +5.2%, JCI +4.2%, CSX +3.0%, WWW +3.0%, STJ +2.9%, CPSS +2.7%, EDU +2.6%, JPM +2.3%, LUFK +2.1%, ABT +2.0%, LLTC +1.8%, KO +1.3%, ASML +1.2%, ADS +1.0%...

Select agriculture names showing strength: FEED +8.3% (announces that they have entered into agreements to acquire majority ownership of several commercial hog farms located in south China provinces), AGU +3.2%, POT +3.0%, MOS +2.9%, CF +2.2%, TRA +1.1%, SYT +1.1%...

Select semiconductor stocks trading higher following INTC earnings and guidance
: MU +3.6%, NSM +3.3%, MRVL +2.4%, TXN +2.3%, ADI +1.9%, MSCC +1.1%...

Select financials showing strength following JPM and WFC earnings results
: C +2.2%, BAC +2.0%, LEH +1.7%, WB +1.2%, GS +1.0%...

Other news
: POZN +40.3% (Treximet tablets approved by FDA for acute treatment of migraine), CVTX +18.3% (announces that TPG-Axon Capital has agreed to pay CVTX up to $185 mln in exchange for rights to 50% of their royalty on North American sales of Lexiscan injection), MXWL +13.3% (Johnson Controls-Saft and Maxwell Technologies to collaborate in development of more effective, more energy efficient electrodes for lithium-ion hybrid vehicle batteries), AMG +4.3% (will replace GRP in the S&P MidCap 400 after the close on 4/21), NOK +3.7% (still checking), BCS +3.6% ( 'wide open' to new mortgage business - Financial Times), GERN +3.0% (announces new data on activity of GRN163L in breast cancer cells), AOB +2.9% (enters strategic alliance with China-based pharma company), NOV +1.6% (will replace ROK in the S&P 100 after the close on 4/21), RIMM +1.6% (still checking), RTP +1.2% (coal, copper output drops, adds to supply concern -, ERIC +1.2% (still checking)...

Analyst upgrades
: MOV +5.4% (upgraded to Buy at Morgan Joseph), ELN +4.4% (upgraded to Buy at tier 1 firm), TSL +2.7% (upgraded to Mkt Perform at Friedman Billings), ADTN +2.5% (upgraded to Overweight at Weisel), SID +1.1% (upgraded to Buy from Hold at Deutsche Bank).

NYSE Arca Morning Update Pre MArket Trading

NYSE Arca Morning Update for Wednesday, Apr 16, 2008 :

Stocks trading on NYSE Arca at a price more than 15% away from the previous trade day's consolidated close price. (As of 08:30:00 ET)

Tuesday's Close Current Price Pct Chng Current NYSE Arca Vol








( 30%)












10 Most Active stocks on NYSE Arca as of 08:30:00 ET

Based on Dollar Volume: Based on Share Volume:
Dollar Volume
Share Volume

NYSE Arca Morning Update

Pre Market Gap Trading

Gapping up: POZN +33.0%, CVTX +22.3%, SORC +20.4%, BMI +13.8%, INTC +7.6%, ZOLT +6.4%, AMG +4.3%, NOK +3.7%, BCS +3.6%, MU +3.6%, NSM +3.3%, FEED +3.2%, AOB +2.9%, MRVL +2.4%, MOS +2.4%, CSX +2.3%, TXN +2.3%, AGU +2.3%, JPM +2.3%, APOL +2.1%, GERN +2.0%, WM +1.8%, LLTC +1.8%, RTP +1.5%, ASML +1.2%, RIMM +1.2%...

Gapping down: SMI -8.3%, HCSG -8.3%, FTE -5.6%, HBAN -4.0%, LSI -3.7%, LXRX -2.6%, STX -1.8%, MBT -1.3%.

Pre-Market Most Active Stocks - NASDAQ Premarket

NASDAQ - Pre-Market Ten Most Advanced

Active Share Volume Declined


Company Name

Last Sale (Pre-Market) % Change


Pozen, Inc.
$10.53 $14.50 37.70% 907,720

CV Therapeutics, Inc.
$7.45 $9.10 22.15% 3,200

Intel Corporation
$20.91 $22.70 8.56% 696,859

AgFeed Industries, Inc.
$15.51 $16.80 8.32% 6,320

Sigma Designs, Inc.
$15.67 $16.67 6.38% 8,710

Geron Corporation
$5.07 $5.27 3.94% 3,700

E*TRADE Financial Corporation
$3.41 $3.54 3.81% 123,348

Affymetrix, Inc.
$10.95 $11.35 3.65% 7,713

Logitech International S.A.
$24.27 $25.09 3.38% 25,300

Capstone Turbine Corporation
$2.70 $2.79 3.33% 11,100

As of 4/16/2008 8:15:58 AM

NASDAQ - Pre-Market Ten Most Declined

Active Share Volume Advanced


Company Name

Last Sale (Pre-Market) % Change


Zoltek Companies, Inc.
$22.79 $22.50 1.27% 4,110

As of 4/16/2008 8:01:11 AM

Pre-Market Most Active Stocks - NASDAQ Premarket

Pre Market Calls

  • Altria (NYSE: MO) cut to Neutral at JPMorgan.
  • Herbalife (NYSE: HLF) started as Overweight at Lehman Brothers.
  • ITT Industries (NYSE: ITT) cut to Neutral at Credit Suisse.
  • Macy's (NYSE: M) cut to Underweight at JP Morgan.
  • McKesson (NYSE: MCK) Started as Buy at Jefferies.
  • Nutrisystem (NASDAQ: NTRI) started as Underweight at Lehman Brothers.
  • Philip Morris International (NYSE: PM) started as Overweight at JP Morgan.
  • Sallie Mae (NYSE: SLM) Cut to Underweight at Morgan Stanley.
  • State Street (NYSE: STT) cut to Neutral at Merrill Lynch.
  • Yingli Green Energy (NYSE: YGE) started as Overweight at Lehman Brothers.

24/7 Wall St.

Pre-Market: Stock Trading Before the Markets Open from CNNMoney

FTSE 100+47.80+0.81%5,954.70
CAC 40+31.55+0.66%4,812.23
HANG SENG-22.98-0.10%23,878.35
NIKKEI 225+155.55+1.20%13,146.13

U.S. Dollar vs Euro+0.0158+1.00%1.5944

U.S. Dollar vs Yen-0.6000-0.59%0.0099

U.S. Dollar vs UK £+0.01+0.69%1.98
Open Closed

Gold (CMX )
June 08 ($US per Troy oz.)
932.00+3.30939.80930.00932.004/15 1:35pm
Light Crude (NYM )
May 08 ($US per bbl.)
113.79+2.03113.90113.20113.794/15 2:30pm

Pre-Market: Stock Trading Before the Markets Open from CNNMoney

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