Courtesy of Tyler Durden at ZERO HEDGE And just in time for Russell small/micro cap reindexing tomorrow, IWM outperforming SPY as traders buy Russell and sell the S&P.

XM Satellite Radio Prices Offering of Senior Secured Notes due 2013 Offering Increased to $525,750,000 in Response to Strong Investor Demand. XM will use the net proceeds from the offering to repay all amounts outstanding under its amended and restated credit agreement; to replace the $150 million second-lien credit agreement with Liberty Media Corporation,...

“Should we buy gold or U.S. Treasuries? The U.S. is printing dollars on a massive scale, and in view of that trend, according to the laws of economics, there is no doubt that the dollar will fall. So gold should be a better choice,” said Li Lianzhong, who heads China’s economic policy research office to CNBC. * “Fed Chairman...

U.S. stocks rallied on Thursday on investors’ relief that Federal Reserve Chairman Ben Bernanke was weathering a tough grilling in Congress relatively well. As we speak the Dow’s up about 185, and the S&P 500 is up 20, cracking solidly back above 900, to 921. Oil is back up over $70, as well.

Courtesy of our friends at The Pragmatic Capitalist One of the primary drivers of the recent stock rally was the consistently “better than expected” economic news.  But as analysts have become more and more optimistic we’ve seen more and more mixed news and a sputtering stock rally.  Wall Street is an expectations game and as analysts increase...

China Architectural Engineering today announced that it has entered into a new agreement with Shanghai Nine Dragon Co., Ltd. (http://www.ninedragon.com.cn) to undertake the major projects located in the Nine Dragon Resort, Zhejiang, including a seven star hotel, a marine park and luxurious villas. The total project value is expected to exceed $500 million....

Courtesy of Business Insider Wow, these would make for some totally awesome bedroom wall posters. The New York Fed (via Alea) has come out with two documents, showing the complete timeline of the financial crisis, with all the major market events, interventions and bank liability guarantees shown with a hyperlink to the original story. You could totally...

This is just an update on using the internal forces of the market to time new positions. In this short video Adam looks at the internal workings of the S&P 500 index. He will be using in this example the free technical tools to help time a position. The number one tool he will be using is the Fibonacci retracement tool which just comes in beautifully...

Big Hat Tip Calculated Risk Fed Chairman Ben Bernanke is to provide testimony before the House Committee on Oversight and Government Reform regarding the Bank of America’s acquisition of Merrill Lynch. Might be interesting … Here is the CNBC feed. And a live feed from C-SPAN.

Courtesy of Phil’s Stock World Big Day Today! We have our GDP report at 8:30 but that will be quickly forgotten as Bernanke is called to testify on Capital Hill in what is quickly becoming BankAmericagate and the calls are coming for Bernanke’s learned head, most notably from San Diego Republican Darrell Issa, who has charged: “The Fed...

The S&P 500 index was slightly lower overnight as it consolidates some of Wednesday’s rally. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline, the reaction low crossing at 874.00 is the next downside target. Closes above the...

Courtesy of Business Insider Of all the things you could say about Fannie Mae (FNM) and Freddie Mac (FRE), too-strict lending standards probably wouldn’t come to mind. Afterall, the companies have been backstopped to the tune of $400 billion, which has to mean their standards were too loose. But powerful Congressman Barney Frank, in a desperate...

Crude oil closed sharply lower on Wednesday as it consolidates below the 20 day moving average crossing at 68.85. The low range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near term. If August extends this week’s decline, the 25% retracement...

(Reuters) – Jazz Pharmaceuticals Inc (JAZZ.O) said preliminary data from a second late-stage trial of its experimental pain drug Xyrem, showed that the study met its main goal, sending its shares up 41 percent. * Says results were highly statistically significant * Says submitting NDA for fibr1omyalgia by end of ’09 * Says partner to consult...