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Jan 24, 2014

Is Argentina the Greece of 2014?: From Bloomberg -The market Now January 24, 2014:

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THE MARKET NOW
The news that drives the U.S. and global markets.

Is Argentina the Greece of 2014?
by Mark Gimein


With markets falling apart around the world, everybody is looking for a culprit. The most likely one at hand seems to be Argentina. No, it's not one of the world's biggest economies (it's at 25 in this World Bank list). And yes, Argentina has been the victim of chronic economic malaise since time immemorial.

Still, Argentina has the capability to send paroxyms of anxiety through the world's markets. That's what it seems to be doing now.  Argentina's ongoing troubles and latest devaluation are pretty much the direct cause of the 3.64 percent decline in Spain IBEX index. That was led by companies with exposure to Latin America (and Turkey).

More generally, the weight of a troubled economy like Argentina's on world markets is out of proportion to its size. Europe is hardly out of the Greek crisis and now we are again looking at the possibility of a sovereign default. Even those who have no exposure to Argentina see the country's troubles as a test of the ability of other emerging markets, including China, India and Russia, to weather an economic storm. Argentina may be a serial defaulter, but it's still a bellwether for worldwide risk; its difficulties are putting investors in what strategists are calling a " risk-off" mindset and seem to have spurred a worldwide flight to safety.

There are few countries in the world (except for Venezuela and Zimbabwe) whose economic wounds are as clearly self-inflicted as Argentina's. Was she able to turn back the clock, even Argentine president Cristina Fernandez de Kirchner might seek to go back and reach an accommodation with her country's creditors. Unfortunately, she can't, and what we're seeing is an economy that's spiralling deeper into sickness. Now world markets arewondering if its contagious.
FEATURED
Angst Over Argentina Upends Alpine Complacency in DavosOver a three-hour lunch in Davos yesterday, Carlyle Group co-founder David Rubenstein told a group of investors and bankers his biggest worry: nobody appeared to be worried about anything at all.  Less than 24 hours later, the devaluation of the Argentine peso accelerated the worst selloff in emerging market stocks in five years Read the full story


Must See on FORA.tv January 22 - 28, 2014: Robert Gates at War With Washington | Blackfish vs. SeaWorld | Is the Civil Rights Movement Over?

Must See on FORA.tv January 22 - 28, 2014
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Robert Gates at War with Washington
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The Internet Protocol (IP) transition will bring telecommunications up to speed, but can the FCC and Capitol Hill handle the switch? Watch Feb 6
Comment of the Week
"I know what I'm doing tonight: watching the IQ2 debate."
- Sean McElwee
 From immigration to innovation, from the desert to the coast, the Tales From Two Cities conference examines poetry, fiction, non-fiction, print and digital in the Golden State. Watch Part 2 in Los Angeles, February 20-22, and explore the Writing From California: SF app on iTunes today.
Have something to say? Want to tell us what you think? We're listening. Whether you have a question or just want to share your thoughts, email us at hello@fora.tv- we want to hear your feedback!

WSJ | Biggest Decliners Closing January 24, 2014.

Biggest Decliners Closing
Biggest Decliners
4:47 pm ET 01/24/2014
NYSE
ISSUEVOLUMEPRICECHG% CHG
China Distance Education Holdings ADS (DL)753,261$20.17-4.89-19.51
Kansas City Southern (KSU)14,623,74299.49-17.79-15.17
International Game Technology (IGT)25,691,48215.04-2.61-14.79
JinkoSolar Holding ADS (JKS)4,518,13129.70-4.10-12.13
HCI Group (HCI)457,42245.22-5.35-10.58
ReneSola ADS (SOL)4,166,6963.39-0.39-10.32
Noah Holdings ADS (NOAH)1,458,40913.18-1.49-10.16
Trina Solar ADS (TSL)8,157,21213.62-1.48-9.80
Baltic Trading (BALT)2,600,7245.21-0.55-9.55
Xueda Education Group ADS (XUE)256,8766.45-0.68-9.54
China New Borun (BORN)492,0802.42-0.25-9.36
NQ Mobile ADS (NQ)4,783,01015.78-1.60-9.21
Walter Energy (WLT)11,431,43811.35-1.15-9.20
Bitauto Holdings ADS (BITA)2,238,83831.77-3.21-9.18
Qihoo 360 Technology (QIHU)5,014,66484.74-8.33-8.95
Teekay Tankers (TNK)1,314,2993.77-0.37-8.94
Unifi (UFI)271,94121.75-2.13-8.92
Herbalife (HLF)8,835,91860.06-5.86-8.89
Moog Cl A (MOGA)729,85362.64-6.08-8.85
MGIC Investment (MTG)16,829,7538.39-0.80-8.71
IntraLinks Holdings (IL)444,12910.83-0.99-8.38
Schawk (SGK)13,52613.73-1.25-8.34
Moog Cl B (MOGB)4,39462.92-5.70-8.31
Yingli Green Energy Holding ADS (YGE)9,711,6965.86-0.52-8.15
Adecoagro (AGRO)875,2437.23-0.64-8.13
 
Nasdaq
ISSUEVOLUMEPRICECHG% CHG
Covisint (COVS)861,388$10.19-2.65-20.64
Tessco Technologies (TESS)142,40333.61-6.09-15.34
Digi International (DGII)496,52310.24-1.85-15.30
Retrophin (RTRX)278,60510.43-1.87-15.20
Allied Healthcare Products (AHPI)25,2362.75-0.47-14.60
Iridex (IRIX)187,1849.07-1.46-13.87
First Niagara Financial Group (FNFG)18,736,4999.08-1.26-12.19
ShoreTel (SHOR)2,296,8708.31-1.08-11.50
Paragon Shipping A (PRGN)655,3816.45-0.80-11.03
Liquid Holdings Group (LIQD)112,8865.04-0.61-10.80
Sinovac Biotech (SVA)834,1606.09-0.71-10.44
DryShips (DRYS)26,047,9873.38-0.39-10.34
Gulf Resources Inc (GURE)421,8782.18-0.25-10.29
Vimicro International ADS (VIMC)180,6172.92-0.33-10.15
XOMA (XOMA)2,682,9257.51-0.82-9.84
Perceptron (PRCP)275,38815.50-1.64-9.57
Arctic Cat (ACAT)726,58143.27-4.55-9.51
Intercept Pharmaceuticals (ICPT)674,492295.25-30.78-9.44
Canadian Solar (CSIQ)4,766,30437.25-3.83-9.32
Financial Engines (FNGN)607,64461.58-6.25-9.21
China Mobile Games&Entertainment Group ADS (CMGE)129,72729.34-2.96-9.16
NanoString Technologies (NSTG)1,267,91317.78-1.78-9.10
Alimera Sciences (ALIM)616,3956.42-0.64-9.07
VelocityShares Daily Inverse VIX Short Term ETN (XIV)22,020,44032.33-3.21-9.03
Trade Street Residential (TSRE)141,0027.34-0.72-8.93
 
NYSE Arca
ISSUEVOLUMEPRICECHG% CHG
VelocityShares 3x Inverse Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (DGAZ)29,581,608$4.76-1.55-24.56
ProShares UltraShort DJ-UBS Natural Gas (KOLD)412,89046.90-9.18-16.37
Direxion Daily India Bull 2X Shares (INDL)103,77647.20-5.66-10.71
ProShares Short VIX Short-Term Futures ETF (SVXY)2,466,23563.39-6.30-9.04
Direxion Daily Brazil Bull 3X Shares (BRZU)65,99314.36-1.30-8.32
Direxion Daily Developed Markets Bull 3x Shares (DZK)22,68266.89-5.96-8.18
Direxion Daily FTSE Europe Bull 3x Shares (EURL)2,58636.48-3.23-8.13
Direxion Daily Basic Materials Bull 3X Shares (MATL)8,66746.21-3.97-7.91
Direxion Daily Emerging Markets Bull 3x Shares (EDC)5,747,69921.70-1.85-7.86
Direxion Daily Mid Cap Bull 3x Shares (MIDU)100,87074.68-6.11-7.56
Direxion Daily South Korea Bull 3X Shares (KORU)2,73639.44-3.22-7.55
Direxion Daily Latin America Bull 3X Shares (LBJ)75,34915.80-1.28-7.49
ProShares UltraPro Russell2000 (URTY)262,40183.99-6.73-7.42
Direxion Daily Small Cap Bull 3x Shares (TNA)12,171,38973.30-5.83-7.37
ProShares UltraPro MidCap400 (UMDD)63,74187.57-6.84-7.24
Guggenheim Solar ETF (TAN)942,73237.46-2.89-7.16
Direxion Daily Russia Bull 3x Shares (RUSL)26,26323.00-1.75-7.07
Direxion Daily Semiconductor Bull 3X Shares (SOXL)146,90565.98-4.98-7.02
Direxion Daily FTSE China Bull 3X Shares (YINN)278,11220.96-1.58-7.01
Direxion Daily Financial Bull 3x Shares (FAS)6,973,29182.12-6.16-6.98
ProShares UltraPro Financials (FINU)18,16457.27-4.05-6.61
ProShares UltraPro S&P 500 (UPRO)3,616,47687.09-6.11-6.56
Direxion Daily Healthcare Bull 3X Shares (CURE)178,11669.59-4.87-6.54
Direxion Daily S&P 500 Bull 3X Shares (SPXL)3,901,50157.71-4.00-6.48
Direxion Daily Energy Bull 3x Shares (ERX)659,86377.55-5.12-6.19
 
Composite
ISSUEVOLUMEPRICECHG% CHG
VelocityShares 3x Inverse Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (DGAZ)29,581,608$4.76-1.55-24.56
Covisint (COVS)861,38810.19-2.65-20.64
Atossa Genetics (ATOS)4,489,2522.55-0.65-20.31
China Distance Education Holdings ADS (DL)753,26120.17-4.89-19.51
RIT Technologies (RITT)1,024,6181.77-0.37-17.29
ProShares UltraShort DJ-UBS Natural Gas (KOLD)412,89046.90-9.18-16.37
Bonso Electronics International (BNSO)190,7352.06-0.39-15.92
Tessco Technologies (TESS)142,40333.61-6.09-15.34
Digi International (DGII)496,52310.24-1.85-15.30
Retrophin (RTRX)278,60510.43-1.87-15.20
Kansas City Southern (KSU)14,623,74299.49-17.79-15.17
International Game Technology (IGT)25,691,48215.04-2.61-14.79
Allied Healthcare Products (AHPI)25,2362.75-0.47-14.60
Iridex (IRIX)187,1849.07-1.46-13.87
Lantronix (LTRX)173,5462.31-0.36-13.48
Real Goods Solar Cl A (RSOL)4,933,1503.61-0.56-13.43
InfoSonics (IFON)612,1482.06-0.29-12.34
First Niagara Financial Group (FNFG)18,736,4999.08-1.26-12.19
JinkoSolar Holding ADS (JKS)4,518,13129.70-4.10-12.13
Astrotech (ASTC)622,6133.27-0.44-11.95
Pacific Ethanol (PEIX)2,280,7757.22-0.97-11.84
ShoreTel (SHOR)2,296,8708.31-1.08-11.50
Cimatron (CIMT)775,6068.65-1.09-11.19
Paragon Shipping A (PRGN)655,3816.45-0.80-11.03
Liquid Holdings Group (LIQD)112,8865.04-0.61-10.80
 
See All Decliners
 
Footnotes
Includes common, closed end funds, ETFs, ETNs and REITS with prior day close of $2 a share or higher, with volume of at least 2,000.
x - stock is trading ex-dividend
Source: WSJ Market Data Group