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IBM looks like the same kind of sleaze-trap as Apple, what with yesterday’s $7 gap-down opening followed by a $3.63 rally to close on the intraday high. This brazenly manipulated selloff did no damage whatsoever to the daily chart, and even on the “60″ it lacked the guts to take out a look-to-the-left low at 122.17 from July 6.
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Gulf Scare Stories Yet to Be Refuted
by Rick Ackerman on July 21, 2010 4:46 am GMT · 35 comments
Just when we thought it might be safe in another five or ten years to go back in the water, our muckraking colleague Matt Drudge is out with a report asserting that methane levels in certain areas of the Gulf of Mexico are a million times higher than normal. Drudge didn’t pull that number out of thin air, unfortunately – it came from a chemical oceanographer at Texas A&M named John Kessler. A “chemical oceanographer.” Doesn’t sound like a kook, does he? “Methane levels ranged from 10,000 to nearly one million times higher in some spots than normal concentration,” said Kessler, who had analyzed water samples collected from within a seven-mile radius of the Deepwater Horizon wellhead. The possible implication is that sea life could die off in a big way because of oxygen depletion, and that greenhouse emissions could cause the climate to change. » Read the full article