Here’s a list of stocks to watch for a potential rebound tomorrow. Prepare yourself for swing trades. We will be trading these stocks which are testing new recent lows.

MCP

AVL

DANG

TSL

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How many of you are tired about hearing the same crap over and over again? It must be a slow news day, sometimes I wonder if the mainstream media picks a headline out of a hat randomly and blast the airwaves with it. The market nose dived today, so what did they tell us??? “Greece debt worries drive the market lower!” We’ve known Greece has been in trouble for years now, why didn’t they mention it on Monday, why didn’t it drive the market down yesterday or the day before…. Headlines drive the emotions of investors, thus resulting in emotional trading. Emotional trading is what drives the market, for now the old fashion market based on technical’s doesn’t exist.

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Below is data compiled from Bloomberg and Fortune revealing the Top 10 U.S. Companies who avoided tax on foreign profits.

1. General Electric (GE)
Untaxed foreign profit: $94 billion

2. Pfizer (PFE)
Untaxed foreign profit: $48.2 billion

3. Merck (MRK)
Untaxed foreign profit: $40.4 billion

4. Johnson & Johnson (JNJ)
Untaxed foreign profit: $37 billion

5. Exxon Mobil (XOM)
Untaxed foreign profit: $35 billion

6. Citigroup (C)
Untaxed foreign profit: $32.1 billion

7. Cisco Systems (CSCO)
Untaxed foreign profit: $31.6 billion

8. IBM
Untaxed foreign profit: $31.1 billion

9. Procter & Gamble (PG)
Untaxed foreign profit: $30 billion

10. Microsoft (MSFT)
Untaxed foreign profit: $29.5 billion

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8.8 magnitude earthquake strikes Japan, tsunami warnings issued and developing in the pacific.

“Early Thursday, an earthquake with a preliminary magnitude of 6.3 struck off the coast of Honshu. A day earlier, a 7.2-magnitude earthquake struck off of Honshu, the country’s meteorological agency said. The Wednesday quake lasted as long as three minutes, but did not cause significant damage. It could be felt in Tokyo, 267 miles (429 kilometers) southwest of its epicenter.” CNN

Highly expected that the markets will open significantly lower in the morning. This is a major blow to the Japanese economy, setting them back many years. The cost of the damage will be enormous. Hopefully everyone is ok.

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The worlds richest man Lebanese-Mexican Carlos Slim announced he is entering the energy sector. The Grupo Carso consortium (diversified retail, construction, and industrial conglomerate) controlled by Slim purchased a 70% stake in Tabasco Oil Co. LLC, an oil exploration and production company. Tabasco Oil has rights to a field in Columbia.

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Oil prices are back in the spot light as the crisis in Libya worsens. Oil shot up $87 a barrel with investors concerned that OPEC production could be affected. Libya exports about 1.0 million barrels a day of crude, if the current situation get worse, oil exports are likely to freeze and the current $87 a barrel could break $100 immediately.

As unrest takes over the middle east it looks appealing to buy oil stocks for the short term!

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It has been a misconception that China is the largest holder of U.S. debt. According to the U.S. Treasury Department that’s not true. The biggest holders of US debt are American individuals, institutions, and Social Security that account for almost 67%. China only holds 7.5%.

At the end of the fiscal year (Sept. 2010) the U.S. debt was $13.562 trillion. And to date it has exceeded $14 trillion.

Below is a chart showing the distribution of U.S. debt holdings.

Sources:
U.S. Treasury Department:
Monthly Statement of the Public Debt of the United States
Major Foreign Holders of Treasury Securities.

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Has the market gone bear? Or is it just a bad week of news? Out of the last 7 trading days, 5 closed down. China and Europe concerns continue to drive the U.S. market down. The Dow has retreated more that 400 points since than and fallen below a psychological point “11000.” Emotional trading has reentered the markets and has taken hold.

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How stupid can investors get, this is all old news. We have all known about Europe’s debt problems, so how do you get a market to crash? You have the media bring it to the spotlight again. What is another driving factor causing this downturn? … yes thats right, China! The Chinese government is considering tightening their currency policy to counter inflation.

Fear has driven the market down 4 days in a row.

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Check out this info chart showing how high tech companies avoid U.S. & U.K. Taxes

Source: Focus

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