Monday, July 26, 2010

Emini Futures Weekly Trading Zones


"Be still, and know that I am God"
(Psalm 46:10, NIV))

Google, Microsoft battle for cloud control. Google (GOOG) and Microsoft (MSFT) are competing to supply the government's General Services Administration with web-based email and other software. It's a key contract, not just because of its size (covering roughly 15,000 employee email accounts) but because the GSA often influences how other federal agencies acquire new technologies.

U.A.E. targets BlackBerry. The United Arab Emirates said Research In Motion's (RIMM) BlackBerry is operating "beyond the jurisdiction of national legislation" and is open to misuse that poses security risks. The UAE said it would seek to safeguard its consumers and laws. Coming just months after Bahrain warned against the use of BlackBerry Messenger software, the comments raise concerns that other Gulf countries may opt to curb certain BlackBerry apps, giving an advantage to rivals like Apple (AAPL).

Madoff "net winners" brace for lawsuits. Madoff trustee Irving Picard is preparing to file a wave of lawsuits against Madoff investors who were "net winners," ultimately withdrawing more than they had originally deposited. Picard said these investors "made money at the expense of the people who didn't," and intends to claw back some of the funds for redistribution to other Madoff victims. The "net winners" protest they shouldn't be punished for withdrawing funds that turned out to be just a fraction of what they thought they had in their accounts.

Friday's failures. Seven banks were closed on Friday, bringing this year's total failures to 103 so far. The banks (in Florida, Georgia, South Carolina, Kansas, Minnesota, Nevada and Oregon) had about $2B in deposits combined, and their resolution will cost the FDIC an estimated $431M.

Emini Weekly Trading Zones
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Pray Hard & Trade Safe!

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