THE
PAINTED PIG
STOCKALERT

AUGUST 18,2008
THE PIGS "OINK" OF THE DAY


"And the trouble with me is that my ego just can't accept a loss. Isuppose that if I were more perfectly adjusted, I would toss offdefeat, but my name is on this ball club. Thirty-six men publiclyreflect me and reflect on me, and it's a matter of my pride." Vince Lombardi




THEPIG SPEAKS............

THE PIG SAYS ITS VERY HOT IN THE BARN THISWEEKEND. AS WE NEAR THE RETURN TO SCHOOL AND THE INTEREST IN THEMARKETS INCREASES, BARGAINS WILL BECOME FEWER AND FARTHER BETWEEN. SHOPNOW AND AVOID THE RUSH.


the pigs news of the WEEKEND..

Market seen sluggish as investors await fresh leads


By ZINNIA DELA PENA

The Philippine Star

Withthe second half financial reporting season over, the local stock marketis expected to remain sluggish this week as investors await for freshleads.

While it gained 32.34 points or 1.2 percent last week toclose at 2,725.15, the PSEi remained relatively flat as profit-takingruled the market for most of the week due to volatility in the USmarkets and the conflict between Russia and Georgia.

“With theearnings reports basically done with as most of the bigger capcompanies are already done, market activity may slow down. Next week’sstrategy should be to sell stocks that have appreciated in price andmay not offer much in the future while holding on to those that areextremely undervalued,” said Prince Yeung of AB Capital Securities.

“Locally,many companies, both those with impressive and unimpressive firsthalves, are warning of a more difficult second half of the year. Whilesome of the firms may only be trying to be conservative, the problemsexperienced in the first half can be expected to carry on to the thirdand fourth quarters. Inflation, although oil has fallen down to $115per barrel, still presents a problem as it is expected to stay in thedouble digit levels until the end of this year,” Yeung said.

Yeungsaid while oil prices have gone down by more than 20 percent from ahigh of $147 per barrel there are no sure signs that world oil priceshave stabilized.

THE PIGS HEADLINE OF THE WEEKEND........

Inside The National Enquirer

Aug. 17, 2008
(CBS) Whenyou think of great investigative journalism, sensational tabloids don'tordinarily spring right to mind. But perhaps because it does fit intothe sensational category, the John Edwards story was broken by TheNational Enquirer. Kelly Cobiella visits the tabloid … and tells all.

Celebrities caught on camera. Gossip about the famous.

It's a formula that has turned the weekly National Enquirer intothe supermarket tabloid of record for anyone who wants to know more -or see more - about the lifestyles, and downfalls, of the rich andfamous.

"People say Enquirer is sensationalistic," said editor David Perel."And I would say I hope it is sensational. When we work a story we'llprobably take the most sensational angle and put it in the headline andblast it to catch your attention."

And it does sell papers … about 1.2 million copies a week.

"What is the perfect National Enquirer story?" Cobiella asked.

"A big news event with accompanying photograph; a major celebrity doing something that they said they weren't doing," he said.

Every day, this Florida-based gossip gatherer scours through 20,000photos, looking for the pictures that tell stories, such as pictures ofOprah. "Because she went on a diet, talked about the diet recently, andthese pics indicate it was not too successful," he said.

Bad news for someone famous is good news for the Enquirer, like actor Patrick Swayze, suffering from pancreatic cancer:

"His face looks sunken now where it did not before," Perel noted after examining one picture.

But a tabloid notorious for dishing dirt on the stars is now in thenews for uncovering the year's biggest political scandal: the JohnEdwards affair, a story the Enquirer first began reporting whileEdwards was still a presidential candidate.

Perel indicated an issue from December 2007. It was "the first timewe named Rielle Hunter as lover and revealed she was 6 months pregnantand got the exclusive photo of her," he said.

The Enquirer pursued the story for months. Then the recentrevelation of a secret Beverly Hills hotel rendezvous between Edwardsand his mistress broke the scandal wide open. Senior writer AlexanderHitchin was lying in wait on a tip from an unnamed source:

Hitchen was at a hotel: "OK, so it's 2:40 in the morning. Andthere's a basement lobby, I approached him. And I said, 'Mr. Edwards,Alexander Hitchen from the National Enquirer. Would you like to explainwhy you were with your mistress Rielle Hunter and your love childtonight?'

"At that point he went white and ran into a restroom. I tried to open the door, and he's pushing and pulling."

"You're fighting with him over the bathroom door?" Cobiella said.

"Ridiculous, ridiculous," Hitchen laughed.

The mainstream media began reporting the scandal only after the former senator confessed to ABC News.

Edwards said the affair ended in 2006 and denied being the father of Hunter's child.

So, Cobiella asked, if this is such scoop, and this was first out several months ago, why didn't others pick up on it?

Kurt Anderson, a media analyst and contributing editor at New YorkMagazine, said, "That is the sixty-four thousand million dollarquestion, isn't it?

"The National Enquirer gives the story cooties for all the Timesand Boston Globes, the Washington Posts of the world. That is partlybecause thirty years, forty, fifty years ago, the National Enquirer wasvery different than today. It is this low-brow celebrityscandal-mongering thing."

That tawdry reputation began back in the '50s under then-owner and editor David Pope. Mike Wallace interviewed Pope for a 60 Minutes story in 1976:
Pope:I was looking for something that would give us instant circulation. Andreally I used to marvel at automobile accidents, and I'd see the publiccrowd around and for some reason have a morbid fascination in what'sgoing on. I personally would turn my head; I couldn't stand it. But Iknew they were attracted to that.

Wallace: The public was fascinated by gore.

Pope: Right

Wallace: And so, you decided -

Pope: So we gave it to them

Wallace: Huh?

Pope: We gave it to them - in spades.
When circulationstalled, Pope started placing the paper by supermarket checkoutcounters and changed its focus: sensational headlines, gossip, storiesabout psychic phenomena, alleged medical breakthroughs.

And some news that just isn't true. The resulting lawsuits againstthe Enquirer have made news of their own. In 1982 Carol Burnett won ajudgment after a false report of being drunk in public.

Just last week there was news of a settlement with a woman falsely reported as having a son fathered by Senator Ted Kennedy.

But contrary to what you might think, the Enquirer's record incourtroom lawsuits is no better or worse than other media outlets.Unknown is the number of out-of-court settlements the paper has had.

(CBS)
"Every newspaper gets sued; It's a fact of life," Perel (left)said. "But, you know, we do pretty well. That's not to say we geteverything right. We don't. But you show the newspaper that does, I'llstart subscribing to it right now."

And every now and then, the Enquirer manages to break big stories.Their infamous "Monkey Business" photo sank Senator Gary's Hartspresidential ambition. They ran the exclusive that Jesse Jackson had anillegitimate child, and found incriminating photos of O.J. Simpsonwearing those Bruno Magli shoes which he had denied owning.

"It is a very rare type of shoe," Perel said. "It left the bloodyfootprints at the murder scene. He said he never owned 'those ugly assshoes.' That was his famous quote. And nobody could find a photograph[of him wearing them]. We found the photograph."

Like so many other celebrity magazines, the Enquirer pays forphotographs, and it's not shy about paying for information, either.

That raises eyebrows - and questions of credibility. And it'sanother reason, Kurt Anderson says, why most mainstream media outletsignored the Edwards rumors … and got stung.

"I think this will be a lesson," Anderson said. "I think this JohnEdwards case will be a moment we'll look back in three, five, ten yearshence and say that was one of the moments when the main street mediarealized that they can't make assumptions about the truth of a storybased on where it popped up."

Back in Florida, the Enquirer is still hot on the trail of the JohnEdwards story; Perel muses over a photo of a hotel room that is missingits bed ("That is truly strange" he said. "I think we'll send areporter or two over there and nose around and see what we find out.").But even he has limits.

"Stop, stop. I don't want to go there. I do not like it," Perelsaid to a reporter's suggestion about the Elizabeth Edwards angle."She's been hurt, she's lashed out."

"So there is such a thing as 'untouchable'?" Cobiella asked.

"Just some places you don't go," Perel told her. "And there's someplaces I don't want to go. And in this case we really have tried tostay away from that aspect of the story.

"I want to hit the news element of the story. I want to hit thefact that a man running for president had an affair and then lied aboutit to the American public and, you know, darn near blew up his ownpolitical party while doing it."

THE PIGS AMERICAN MARKET NEWS OF THEDAY........
August 17, 2008

Stocks Lack Direction Even as Oil Declines

The price of oil fell duringthe week while inflation in July rose to a 5.6 percent annual rate, a17-year high. There was no clear direction for the stock market.

General Motors shares gained 11.47 percent for the week, the best in the Dow industrials. American International Group lost 7.6 percent, the worst.

For the week, the Dow Jones industrial average fell 74.42 points, or0.6 percent, to close at 11,659.90. The Standard & Poor’s 500-stockindex gained 1.88 points, or 0.1 percent, to close at 1,289.20. TheNasdaq composite index rose 38.42 points, or 1.6 percent, to close at2,452.52.

Oil futures in New York settled at $113.77 a barrel, down from$115.20 the previous week. The yield on the 10-year Treasury note fellto 3.84 percent from 3.93 percent a week earlier.

THE PIGS WEBSITE OF THE WEEKEND...........

http://nobodys-perfect.com/vtpm/index.html


THEPIGS COMMODITY NEWS .....

Sliding commodity stocks suggest another bleak week on the TSX

TORONTO — Gains on stock markets are elusive a year after the startof the global financial crisis, which was spawned by cheap credit thatled to a bubble in the U.S. housing market and the writedown ofbillions of dollars of securities.

In fact, it's only recentlythat the crisis has blown into a full-scale global economic slowdownthat is seeing many economies teeter on the edge of recession.

"Peoplewere concerned about the downturn in the U.S. but we were saying it'snot just the U.S.," observed Danielle Park, president and portfoliomanager at Venable Park Investment Counsel in Barrie, Ont.

"It'severywhere, it's Europe, it's Australia, it's Asia, Japan contracted.And China is slowing. Their growth rate may still be over eight percent next year too but they are such a highly leveraged economy interms of the need to pump out tons of stuff to feed people - and aslowdown from 10 to eight or nine for them is catastrophic."

Andit's that fear of a worldwide slowdown, along with a much strongerAmerican currency, that has apparently sealed the end of thecommodity-based surge that sent the Toronto stock market into recordterritory, above the 15,000 level, just a couple of months ago.

Sincethen, energy and metals stocks have been routed, particularly as oilhas tumbled about 23 per cent since crude hit its most recent all-timehigh of just over US$147 a barrel July 11.

It's a correction many say was overdue.

"AllI was trying to say to people before was, it's not true that demand isdriving commodity prices and the dollar right now," said Park.

"Peopledidn't want to believe that because it meant that . . . parabolicspikes could continue indefinitely, prices could go to the sky and allthat.

"The fact of the matter was that it's a typical scenariojust like in the tech run when you had big gains attracting bigdollars, people chasing and then you have the self-fulfilling momentumof things going up because people are getting long - just because."

TheToronto market shed more than two per cent last week, leaving the TSXabout to slip below the 13,000 level for the first time since mid-March.

"Youhave the whole strengthening (U.S.) currency which takes money awayfrom commodities and you've got demand destruction because of theslowdown in the overall economies," added Park.

The market had found support in recent weeks from financial stocks on hopes that the steady drip of writedowns was over.

Butthe TSX financial sector lost ground last week on news of more bigwritedowns at Swiss bank UBS AG while JPMorgan said it has incurredmore substantial losses in its mortgage investments so far in the thirdquarter than it did in the previous three months.

Canadian banksstart reporting next week and investors are afraid they will bereporting more bad news, suggesting to Park that investors will want togive banks a pass for a while yet.

"I can't see any evidence of the turn yet," she said.

"And it will come. It's just don't be too quick in there because you're going to lose your shirt."

So what's an investor to do right now?

Parkrecommends investors look at whether they are overweight incommodities, downsize over-performing sectors and " have some cash, bedefensive still because the correction is ongoing."

THE PIG'S PORK BARRELPICKS OF THE DAY.....

SATURN MINERALS INC - SMI:TSX-V
Further rumours of permits out this week.


REUNION GOLD CORP - RGD:TSX-V
Spies suggest news is coming and its substantial.

ABBASTAR URANIUMCORP - ABA:TSX-V
Keep this one in your sights. The pig expects it to go and soon.

MANICOUAGAN MINERALS INC - MAM:TSX-V
The pig is thinking this may be a market darling in a week or so. A few shares out, but could be a decent trade.


THE PIGSSAYS TO WATCH FOR THE QUEBECSHALE GAS
PLAYS TO BEGIN TO REINVIGORATE INTEREST AS DRILLING
IS STARTING TO RAMP UP !


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THE PIGS PICKS FOR WIDOWSAND ORPHANS....

ANGLO-CANADIAN URAN CORP - URA:TSX-V
PETROSTAR PETROLEUMCORP - PEP:TSX-V
CANADIAN MINING COMPANY - CNG:TSX-V




THE PIGS JOKEOF THE DAY............

There once was a yellow toad. He was a very unhappy toad because he hadno friends. Thus, he consulted a magician, who was able to turn himbrown, except for his private parts. When queried, the magician said,For that you must see the Wizard; I never have much luck with those."
On the way to see the Wizard, the toad encountered a pink elephant, who
was leaning against a rock and crying. "What's the matter?" asked the
toad. "I'm pink! That's what's the matter." said the elephant. "No
problem," said the toad, "just go see the magician." So the elephant
did, and the magician turned him grey - except, again, for his private
parts. "For that you must see the Wizard," said the magician. "How do
I find the Wizard?" asked the elephant.
"Simple," said the magician, "just follow the yellow-dicked toad!"