![\"\"](\"https:\/\/www.technologyinvestor.com\/wp-content\/uploads\/2011\/09\/AppleINtraDay.jpg\" "\\"AppleINtraDay\\"")
<\/a><\/p>\nI don’t know why, but you can see heavy selling (the red bars). This morniing Goldman Sachs upped its price target for Apple to $520.<\/p>\n
We are basically in a bear market. If you’re long in this market, you have to keep your finger poised over the sell button.<\/p>\n
Annaly reduced its latest dividend from 68 cents to 60 cents.<\/strong> Annaly is the largest and arguably the most conservative mortgage REIT. In its dividend press release, it did not explain the reason for the dividend cut.\u00a0 My sources tell me it’s a function of two things: mortgage prepayments and unwillingness by Annaly management to increase its leverage from 5.7 times to a more common industry standard of seven to eight times.\u00a0 My sources believe that the fourth quarter dividend will be retored to 68 cents or close. Recent dividends have moved around —<\/span><\/span><\/p>\n September 30, 2010 $0.68 I am not worried. The stock is basically flat on the year, though it may take a hit today. <\/span><\/span><\/p>\n The key with Annaly — and for that matter all stocks today — <\/strong>is to put in low-price buy orders. For example, I’d put in an order to buy Annaly at $16. Maybe you’ll pick up some on the next flash crash? Merrill Lynch has today cut Annaly to a “neutral.” Here’s their report. Click here.<\/strong><\/a> Here’s another one with a higher price target. Click here.<\/a> Not one of your perfect investments.<\/strong><\/span> Unless you’re one of the owners. From the Wall Street Journal:<\/p>\n The U.S. Justice Department on Tuesday accused poker celebrities Howard Lederer and Christopher Ferguson among other executives of a major poker website of defrauding poker players out of more than $300 million.<\/p>\n The U.S. Attorney in the Southern District of New York filed a motion Tuesday to amend an earlier civil complaint to allege that Mr. Ferguson, Mr. Lederer and two other directors for the website, Full Tilt Poker, operated what the Justice Department says was a Ponzi scheme that allowed the company to pay out $444 million to themselves and other owners, which included other famous poker players.<\/p>\n In the motion to amend the complaint, the government alleges Full Tilt executives misrepresented to the website’s players that the money the company was supposed to be holding in player accounts was safely held when it was actually being used for other purposes, including payments to owners.<\/p>\n Louis XIV’s gifts to the world. <\/strong>Louis XIV (aka the Sun King)<\/span> <\/strong><\/span>was\u00a0 King of France\u00a0 at the age of four and stayed King for seventy-two years, three months, and eighteen days. It is one of the longest documented reigns of any European monarch. He basically built the palace of Versailles (with its hall of mirrors). He also commissioned an incredibly extravagant opera called Atvs, which is being staged this week at the Brooklyn Academy of Music. Susan and I are seeing it on Friday. Atvs was created in 1676\u00a0 and derived from Ovid\u2019s poem Fasti, Atys is a breathtaking marriage of the royal court\u2019s dance- and chorus-filled spectacles to Ovid\u2019s tragic tale of love lost to a vengeful god.\u00a0 It lasts over four hours. It will probably never again be staged in our lifetime. A private donor paid for the staging costs, which include original baroque instruments and costumes and wigs like you’ll never see anywhere ever. Get yourself a ticket. Click here.<\/strong><\/a><\/p>\n Latest New Yorker cartooons.<\/strong><\/span>
\nDecember 23, 2010 $0.64
\nMarch 29, 2011 $0.62
\nJune 28, 2011 $0.65<\/span><\/span><\/p>\n<\/a><\/span><\/span><\/p>\n
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