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#1 TTHQ Staff

TTHQ Staff

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Posted 07 March 2010 - 08:40 PM

Posted Image The VRTrader.com VR Silver Newsletter - Monday 3/8/2010
"Tools for the High Performance Trader"
Copyright ©2010, All rights reserved.
Redistribution in any form is strictly prohibited. LEIBOVIT FILES | by Mark Leibovit Leibovit Files
Monday, March 08, 2010
So Far, Steady As She Goes - The Uptrend Remains Intact!

---------------------------------------------
My 'Annual Forecast Model' (VR Forecaster Report) is now posted on the VRtrader.com website and covers cyclical projections for the Dow Industrials, the TSX, Gold, Crude Oil, Ten Year Interest Rate Yields and the US Dollar Index. Subscribe today and insure getting your copy. The Model has been published since 1987 and has garnered a respectable following among traders and investors seeking an overall 'timing' tool for the major markets. Remember, there is no price too high for good information!

Here is the link:

https://www.vrtrader...cribe/index.asp

If you have any questions, please don't hesitate to call me and leave a voice mail message at 928-282-1275 or email me at mark.vrtrader@gmail.com.
---------------------------------------------

UPCOMING ECONOMIC RELEASES/MARKET EVENTS
MARCH 8 - 12, 2010:
---------------------------------------------
MONDAY, MARCH 8, 2010:

Federal Reserve Gov. Kevin Warsh speech on the Fed at a crossroads to the Hedge Fund Institutional Forum in New York.
8:35 AM ET

4-Week Bill Announcement
11:00 AM ET

3-Month Bill Auction
11:30 AM ET

6-Month Bill Auction
11:30 AM ET

POST-MARKET EARNINGS REPORTS:
H & R Block, TiVo

---------------------------------------------
TUESDAY, MARCH 9, 2010:

Turnaround Tuesday

PRE-MARKET EARNINGS REPORTS:
Kroger, Northgate Minerals

ICSC-Goldman Store Sales
7:45 AM ET

Redbook
8:55 AM ET

Chicago Federal Reserve Bank President Charles Evans speech to NABE annual policy conference in Arlington, Va.
9:30 AM ET

4-Week Bill Auction
11:30 AM ET

52-Week Bill Auction
11:30 AM ET

3-Yr Note Auction
1:00 PM ET

POST-MARKET EARNINGS REPORTS:
Analogic, J. Crew, Navistar

---------------------------------------------
WEDNESDAY, MARCH 10, 2010:

Weird Wally Wednesday

PRE-MARKET EARNINGS REPORTS:
American Eagle, Children's Place, Speedway Motorsp

MBA Purchase Applications
7:00 AM ET

Wholesale Trade
10:00 AM ET

EIA Petroleum Status Report
10:30 AM ET

10-Yr Note Auction
1:00 PM ET

Treasury Budget
2:00 PM ET

POST-MARKET EARNINGS REPORTS:
FuelCell Energy, Gymboree, Hot Topic, Men's Wearhouse

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THURSDAY, MARCH 11, 2010:

PRE-MARKET EARNINGS REPORTS:
Imax, Jackson Hewitt, Smithfield Foods

International Trade
8:30 AM ET

Jobless Claims
8:30 AM ET

Quarterly Services Survey
10:00 AM ET

EIA Natural Gas Report
10:30 AM ET

3-Month Bill Announcement
11:00 AM ET

6-Month Bill Announcement
11:00 AM ET

30-Yr Bond Auction
1:00 PM ET

Fed Balance Sheet
4:30 PM ET

Money Supply
4:30 PM ET

POST-MARKET EARNINGS REPORTS:
Aeropostale, Goldcorp, National Semi, Zumiez

---------------------------------------------
FRIDAY, MARCH 12, 2010:

PRE-MARKET EARNINGS REPORTS:
AnnTaylor

Retail Sales
8:30 AM ET

Consumer Sentiment
9:55 AM ET

Business Inventories
10:00 AM ET

---------------------------------------------
STOCKS - ACTION ALERT -

The market reacted positively on Friday to a better than expected employment report, with a number of indexes hitting new bull market highs and the broader indexes, such as the S&P 500, getting close to its recovery high as well. For the session, the Dow gained 122.06 to 10566.20, the S&P rose 15.72 to 1138.69, and the NASDAQ jumped 34.04 to 2326.35.

As I thought, anxiety over Friday's employment report was simply confirmation of the current uptrend, i.e., the old 'Wall of Worry' concept. Markets are overbought but can stay overbought for periods of time. Indeed, we will see corrections, but for now I remain on my TIMER DIGEST 'Buy' signal expecting overall to see higher prices over the near-term. Perhaps the adage 'Sell May and Go Away' will come into play and I will have to revisit my bullish stance at that time. Of course, I will be trading along the way.

It is particularly interesting that March is not hosting the widely expected low point. I for one was looking for that low as well, but in recent sessions it became obvious, at least to me, that the February 5 low instead was the benchmark low for this cycle. Indeed, we could still very well see a retracement over the next couple of weeks, but I don't think we're looking at anything that measures significantly to the downside. The trend is your friend and with the breakout in the S&P 400 Midcap, Russell 2000 and on Friday the Nasdaq Composite to new bull market highs - it is clear that thinking anything other than bullishly is counter-productive at this time.

Small caps (IWM +2.04%) and mid-caps (VO +1.52%) outperformed on Friday with both hitting new bull market highs. The NASDAQ Composite (QQQQ +1.51%) also hit a new high. Traders are moving into more speculative stocks as they bet on an economic recovery.

Among sectors, commodity stocks led the way (XLB +1.28% and XLE +1.87%) as industrial metals and oil rallied on hopes for improved demand. Financials did even better (XLF +1.94%) because they now stand less exposed to a default in Greece after Greece's parliament approved new spending cuts and taxes Friday and successfully sold new bonds on Thursday. Consumer Staples (XLP +0.62%), Consumer Discretionary (XLY +1.86%), and Industrials (XLI +1.53%) all hit new recovery highs on Friday.

I must caution that, even though employment seems to have stabilized, it has stabilized at a very low level. Ten percent, give or take, of the country is totally employed and many more on top of that have given up looking for work (16.8% unemployment if you include discouraged workers) or are underemployed, working part time when they want full time work or working at a low-paying service job despite their college degrees and years of experience. I will be more optimistic about this economy when we start seeing companies hiring. As of right now, all we have seen is that companies have stopped laying people off. Where we go from here remains up in the air.

But as I'm sure you know, the market and the economy are two entirely different animals. With the government trying to spend its way out of this recession and consumer spending rising faster than income, corporations are doing quite well compared to the average person who has seen jobs disappear, wages decline (unless you work for the government), and taxes rise.

POST-MARKET NEWS:

Hewlett-Packard said it would cut its first-quarter net earnings by $73 million, or 3 cents a share due to a suit that EDS has been involved in since 2004. The case relates to litigation filed in the United Kingdom by Sky Subscribers Services Ltd. and British Sky Broadcasting Limited against EDS. HPQ slipped 0.35% in after hours trading.

--------------------------------------------
DOW TRANSPORTS - ACTION ALERT -

Transportation stocks underperformed on Friday as oil prices rallied and threaten to test their recovery highs. Nevertheless, the Transports rallied on Friday and they too are getting close to their bull market highs. Overall, recent strength in the Dow Transports has reconfirmed my bullish stance on the equity markets. If people and companies are using rail, planes and trucks to move merchandise, that points to a stronger business climate and a higher stock market. It is as simple as that. The Dow Jones Transportation Average jumped 35.66 or 0.86% to 4195.84. The bull market high is 4265.61, just 1.66% away.

--------------------------------------------
GOLD and METALS - ACTION ALERT -

Precious metals closed slightly higher on Friday as the Dollar finished the day down slightly. Gold gained 1.90 to 1134.40, silver rallied 0.24 to 17.37, platinum was unchanged at 1577, and palladium rose 18 to 476. May copper settled up 0.0420 at 3.4175.

I think we saw the lows back on February 5 in Gold as well and my expectations are that we could see a retest of the 1225 December high and very possibly new record highs in the weeks ahead. Silver on a percentage basis is acting better than Gold, so I would definitely keep my foot in the door there as well.

Here is the link to the VR Gold Letter:

www.vrgoldletter.com

If you are a Platinum or Silver subscriber, special discount rates are offered. Please contact my office for details: mark.vrtrader@gmail.com or 928-282-1275.
---------------------------------------------
BONDS - ACTION ALERT -

Treasuries had their worst session in more than two weeks on Friday after the Labor Department said the U.S. economy lost fewer jobs last month than economists predicted. The long bond future fell 1 4/32 to 116 22/32.

Fed fund futures for September delivery are pricing in a 40% chance that rates will rise to a half percentage point by then, up from the current range of zero to a quarter-point. The contract was pricing in a 20% chance on Thursday. The December contract is pricing in a 73% chance that rates will rise to 0.75% by the month, compared to a 61% chance before the payrolls data.

I have no positions or recommendations here and remain neutral.

---------------------------------------------
CRUDE OIL - ACTION ALERT -

Oil rose Friday on increased hope of economic recovery after the better than expected employment report. Crude oil gained 1.29 to 81.50 and natural gas rose 0.018 to 4.593. I am bull on Crude Oil over the near-term and, as I've stated, feel we could see a push even into the 90s ahead.

---------------------------------------------
US DOLLAR - ACTION ALERT -

The US Dollar Index closed down slightly on Friday after the employment report showed another small decline in nonfarm payrolls and the financial situation in Greece appear to be calming down, though the protesting is becoming more violent. The US Dollar Index fell 0.138 to 80.423.

I am long the EURO, so my short-term expectations are for a pullback in the Dollar. The big picture trend is down in the Dollar, but deviant forces are at work and we could very well see the Dollar achieve higher levels later this year, especially if equity markets again nosedive.

The Greek parliament approved new spending cuts and taxes Friday aimed at defusing the country's debt crisis, while protesters opposed to the measures fought with police outside. Riot police used tear gas and baton charges to disperse rioters who chased the ceremonial guards in 19th-century kilts and tasseled garters away from the Tomb of the Unknown Soldier outside the parliament, while a top trade union leader was roughed up by left-wing protesters. It was the biggest outburst of violence since Greece's debt crisis escalated late last year. Police say they arrested 5 people, and seven officers were injured. Up to 7,000 demonstrators gathered outside as lawmakers debated the austerity package, which aims to save euro4.8 billion ($6.5 billion) with measures including higher consumer taxes and cuts to public sector workers' pay of up to 8 percent.

Heavily indebted Greece has not requested financial aid and is not likely to default, German Chancellor Angela Merkel said after meeting with Greek Prime Minister George Papandreou in Berlin, according to media reports Friday. Merkel also stressed that Greece's bond issue on Thursday went a long way to reassure the financial markets. Greece priced a new 5 billion euros ($6.8 billion) of 10-year bonds on Thursday amid strong demand. The annual coupon rate was 6.25%.

The Bank of Japan will likely consider more monetary easing through April, aimed at pushing down short-term rates, according to a report Friday. The BOJ's policy board is expected to discuss such steps at a two-day meeting starting March 16. Some officials are said to be cautious about adopting additional measures too soon, especially as the economy recovers at a solid pace. As a result, a decision on offering more steps and discussions about specifics are likely to carry over into next month, when two separate policy board meetings are scheduled, the report said.

---------------------------------------------
URANIUM - ACTION ALERT

Ux U3O8 Prices* (Uranium)
March 1, 2010 Posting
Spot: $40.50 DOWN 1.25. Bull market high in the cash market was $138.00.

The March Uranium Futures closed at $40.00, a new bear market low. June 13, 2007 hosted the bull market high of 154.95. Major support lies well under the market at $36.00.

The spot price of uranium quadrupled from 2004 to 2007. When it hit $138/lb, uranium became a certified bubble, which has now burst. For investors, this is the best possible news, of course. Nuclear power is the ultimate alternative fuel, as the French will tell you. You get all the power, 84% cheaper than coal, with none of the politics of rogue nations and none of the greenhouse emissions.
---------------------------------------------
ECONOMIC NEWS:

U.S. nonfarm payrolls declined for the 25th time in the past 26 months, falling by 36,000 in February to a seasonally adjusted 129.5 million, the Labor Department estimated Friday. The nation's jobless rate was steady at 9.7% as the number of those employed in the household survey rose by 308,000. The number of people with jobs who said they couldn't work because of bad weather was a not-seasonally adjusted 1.03 million, the highest since the Blizzard of 1996. The number of people who usually work full-time but were forced to work less than 35 hours because of bad weather rose to 5.3 million, also not seasonally adjusted. Total hours worked fell by a seasonally adjusted 0.6%, likely due to weather-related shutdowns. The February employment report was better than expected, as economists had forecast a drop of 90,000. They expected the unemployment rate to rise to 9.8%.

Premier Wen Jiabao pledged further measures to curb speculation in China's housing market Friday, signaling that lending to the sector would be tightened as well as the imposition of targeted taxes and stricter enforcement of real estate laws. The government would work to improve management of land to prevent "prices from rising too fast" along with making "greater efforts" to tackle illegal land hoarding and property-price manipulation, he said. The speech marked a step-up in Wen's rhetoric since he warned of rising property prices in December. Although Wen didn't provide details on what steps would be taken to cool the market, many analysts said it would most likely involve efforts to tighten up on the enforcement of rules already in place. Further curbs on lending were likely were a possibility, some analysts said.

CORPORATE NEWS:

Marvell Technology late Thursday reported it swung to a fourth-quarter net income of $204.8 million, or 31 cents a share, from a loss of $65 million, or 11 cents a share, in the same quarter last year. On an adjusted basis, the chip maker would have earned 40 cents a share. Revenue rose to $842.5 million from $512.9 million a year earlier. Analysts projected earnings of 37 cents a share on revenue of $842 million. MRVL gained 1.34%.

Apple on Friday said the first version of its iPad tablet computer will go on sale Saturday, April 3 in the U.S., with other versions becoming available globally later in the month. The initial U.S. version, costing $499, can connect to the Internet over Wi-Fi networks, with later models available over wireless-phone networks. Customers can preorder the iPad in the U.S. starting on March 12 or reserve the right to pick one up at an Apple store on April 3. The tablet computer weighs 1.5 pounds and is just half-an-inch thick. AAPL rallied 3.91%.

Goldman Sachs downgraded Capital One Financial to neutral from buy on near-term worries over consumer credit. COF was up 2.99%.

American International Group said Friday it will sell its remaining stake in Transatlantic Holdings. AIG rose 5.13% and TRH fell 3.35%.

---------------------------------------------
Canadian TSE, TSE Venture and Canadian Dollar Commentary for our Canadian clients updated for Monday, March 8. Check the VR List below for Canadian Positive and Negative Volume Reversals ®.

The Canadian market rallied on Friday, in line with the US market, as all sectors except for Information Technology rose nicely. The TSE jumped 150.17 or 1.27% to 11975.14. The TSE posted its highest close since September 2008.

Canadian Prime Minister Stephen Harper's five-year plan to cut defense spending, foreign aid and government operations won't be rejected by opposition lawmakers, putting the country on course to be the first in the Group of Seven to erase its deficit. Finance Minister Jim Flaherty, 60, released a C$281 billion ($273 billion) budget Thursday that forecasts the shortfall narrowing to C$49.2 billion in the 2010-11 fiscal year, down from a record C$53.8 billion last year. The gap will narrow to C$1.8 billion for the 2014 budget as stimulus measures expire, revenue recovers and spending cuts are implemented.

Canadian Finance Minister Jim Flaherty said the country's advantages are leading to more investment and a stronger currency, and "modest, moderate" growth will be enough to generate the revenue needed to balance the budget. Flaherty told reporters that Canada has an advantage over other countries because of its stronger banks and lower corporate taxes. This attracts investors, Flaherty said, and as a result, the Canadian dollar will be under continuing pressure to appreciate against the U.S. dollar and other currencies. Canada's budget deficit is temporary, not structural, Flaherty reiterated in his remarks Friday. Speaking about revenue generated by economic expansion, Flaherty said the budget projects "modest, moderate growth as we go forward which is all we need in order to get to a balanced budget in the medium term."

Energy 147.70 +1.25
Financials 182.97 +1.77
Health Care 36.64 +0.43
Industrials 100.44 +2.06
Information Technology 31.45 -0.02
Metals & Mining 1,086.55 +39.62
Telecommunications 81.32 +1.00
Utilities 201.15 +3.33

Resistance is 12,126, 12,968, 13,771, 13,889, 13,983, 14,157. Support is 11,420, 10,990, 10,800, 10,500, 10,384, 9500, 9300, 9140.
---------------------------------------------
TSE Venture:

The Venture rallied with the other markets on Friday, but lagged behind as precious metals, most notably gold, gave up most of their earlier gains. The TSE Venture rallied 16.09 or 1.04% to 1557.93.

Explor Resources Inc. has completed a 10,000-metre drilling program on the Timmins Porcupine West property (TPW). The program was designed to confirm the model announced on Sept. 11, 2009. The first phase of drilling was concentrated on mineralized zone A located on the south limb of the geosyncline. Zone A is one of five mineralized zones identified on the property. A series of four holes drilled perpendicular to the structure and spaced at approximately 300-metre spacing was drilled to intersect and confirm the existence of the mineralized structure at or below 400 metres of vertical depth. To date the mineralized structure has been confirmed for over 900 metres of strike length at a vertical depth of from 400 to 600 metres. It is currently open on strike and open at depth. EXS.V fell 10.99%. Explor was the most active stock on the Venture traded seven times in normal daily volume.

Resistance is 1575, 1595, 1629, 1680. Support is 1429, 1403, 1383.
--------------------------------------------
THE CANADIAN DOLLAR (using the FXC Exchange Traded Fund):

The Canadian Dollar rallied Friday morning but, following precious metals down, gave up almost all of its gains. FXC traded as high as 97.05 but closed at 96.66, up just 0.03.

Resistance is 97.46, 98.00, 100.00. Support is 92.46, 92.01, 91.00, 89.75, and 85.18.
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TIMER DIGEST signals for Stocks, Gold and Bonds are available to Platinum subscribers on the Home Page. TIMER DIGEST is an independent ranking service and newsletter. VRtrader.com, Inc. and TIMER DIGEST have no affiliation.

TIMER DIGEST has named Mark Leibovit of VRTrader.com 'TIMER OF THE YEAR' for 2006 and was named the #2 Timer for 2007.

As of January 25, 2010, TIMER DIGEST has named Mark Leibovit the 7th Market Timer for the 5 year period ending 12/31/09; the 3rd Market Timer for the 8 year period ending 12/31/09 and the #2 Market Timer for the 10 year period ending 12/31/09.

As of January 25, 2009, TIMER DIGEST also named Mark Leibovit the #2 Gold Timer for the 10 year period ending 12/31/09!

More kudos - Mark Leibovit was named the #1 Intermediate Market Timer for the 10 year period ending in 2007; the #1 Intermediate Market Timer for the 3 year period ending in 2007; the #1 Intermediate Market Timer for the 8 year period ending in 2007; and the #8 Intermediate Market Timer for the 5 year period ending in 2007. NO OTHER ANALYST SURVEYED APPEARED IN ALL FOUR CATEGORIES FOR INTERMEDIATE MARKET TIMING AS PUBLISHED IN TIMER DIGEST JANUARY 28, 2008!

Mark Leibovit was also named the #1 Gold Timer for the one-year period ending March 25, 2008. Most recently, from: 12/26/08 to: 03/27/2009, he is ranked in the #5 position for 3 month return.

Current TIMER DIGEST signals for stocks:
'Buy' signal March 4, 2009.
'Sell' signal May 27, 2009.
'Buy' signal July 21, 2009.
'Sell' signal September 2, 2009.
'Buy' signal September 3, 2009.
'Sell' signal October 15, 2009.
'Buy' signal November 13, 2009.
'Sell' signal November 30, 2009.
'Buy' signal December 1, 2009.
'Sell' signal January 27, 2010.
'Buy' signal February 12, 2010.

Current TIMER DIGEST signals for Gold:
'Sell' signal November 30, 2009.
'Buy' signal December 1, 2009.
'Sell' signal January 27, 2010.
'Buy' signal February 12, 2010.

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DAILY VR LIST:

Editors note: The Daily VR List here is abbreviated with the full list only available to Platinum subscribers by clicking on 'Current VR List' on the Home Page of VRtrader.com. Canadian shares are listed at the bottom of each section with the title: 'XXX CANADIAN STOCKS XXX'.
Silver subscribers who find this useful should upgrade to Platinum where you can pull down VR charts for many securities and watch the patterns unfold for yourself. There is no technical service on the planet that posts Positive and Negative VR! Why? Because they are proprietary to VRtrader.com!

How do you use this list? VRs are buy and sell triggers and are particularly useful in defining lows or highs in stocks and stock indexes. Traders find them particularly useful, especially coming off market extremes as an indication of a change of direction. Use the VRs in conjunction with your other technical indicators and you've added a unique technical tool to your arsenal.

What is a Volume Reversal ™? There are several proprietary subtleties to the Volume Reversal ™ algorithm, but essentially a Volume Reversal ™ is a change from a Rally day to a Reaction day accompanied by a increase of volume or a change from a Reaction day to Rally day accompanied by an increase in volume. Volume Reversals ™ coming off intermediate lows or highs have greater significance in helping to define those lows or highs and important pivot points in the marketplace. The Volume Reversals ™ presented here provide you with a unique research tool that may have trading (short-term) significance, but it also may have 'trend changing' (intermediate) significance as well. The sector Volume Reversals ™ show where big money is possibly affecting an entire group of stocks. The stocks listed under the group have posted Volume Reversals ™ along with the group as a whole. The individual stocks listed have posted Volume Reversals ™ on their own and are valid plays as well.
To see a visual representation of Volume Reversals ™, please go our Current Portfolio section and click on any recommended stock. Or, if you would like to get a VR Chart for a specific symbol, please click here. Please note that not all symbols may be currently available:


VOLUME REVERSALS FOR MARCH 5, 2010:
---------------------------------------------
POSITIVE VRs
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XXX CANADIAN STOCKS XXX Canadian Stocks

CMW.UN CLAYMORE S&P/TSX GLOB MINING
CNQ.UN CANADIAN NATURAL RESOURCES LTD
EIT.UN ENERVEST DIVERSIFIED
FTT FINNING INTERNATIONAL
GIB.A CGI GROUP INC CL A SU CL A
HEU HORIZONS BETAPRO S&P/TSX CEBP
HSE HUSKY ENERGY INC ZHS
IMG IAMGOLD CORP NPV
IVN.UN IVANHOE MINES
NA.UN NATIONAL BANK OF CANA
NVA NUVISTA ENERGY LIMITE
PD.UN PRECISION DRILLING TRUST
POT.UN POTASH CORP
SLW.UN SILVER WHEATON CORP
SVM.UN SILVERCORP METALS INC
TCM.UN THOMPSON CREEK METALS CO
THI.UN TIM HORTON'S
XEG.UN ISHARES CDN S&P/TSX C
XGD ISHARES CDN S&P/TSX G
XMA ISHARES CDN S&P/TSX C
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U.S. STOCKS:
---------------------------------------------
AEROSPACE/DEFENSE Aerospace/Defense Major Dive

LMT Lockheed Martin Corp
NPO Enpro Industries Inc
RTN Raytheon Co

AEROSPACE/DEFENSE Aerospace/Defense Products & S

CW Curtiss Wright Corp
ERJ Embr Emprs Brsl De Aero
HEI Heico Corp
TDG TransDigm Group Inc

AUTOMOTIVE Auto Manufacturers - Major

DAI Daimler Ag
HMC Honda Motor Co Ltd Adr

AUTOMOTIVE Auto Parts

ARM Arvinmeritor Inc
AXL American Axle & Manufact
CVGI Commercial Vehicle Group Inc

AUTOMOTIVE Trucks & Other Vehicles

NAV Navistar Internat Corp
SPAR Spartan Motors Inc
WNC Wabash National Corp

BANKING Foreign Regional Banks

BAP Credicorp Ltd
BBD Banco Bradesco Sa
CIB Bancolombia Sa

BANKING Money Center Banks

BAC Bank Of America Corp
IBN Icici Bank Ltd Ads
MFG Mizuho Financial Group Inc

BANKING Regional - Mid-Atlantic Banks

BAYN Bay National Corp
CCBG Capital City Bank Group
FBNC First Bancorp Nc

BANKING Regional - Midwest Banks

BUSE First Busey Corp Cl A
CHFC Chemical Financial Corp
FFBC First Financl BAncorp Oh

BANKING Regional - Northeast Banks

ATLO Ames National Corporation
BDGE Bridge Bancorp Inc
BNCL Beneficial Mutual Bancorp Inc

BANKING Regional - Pacific Banks

CATY Cathay General Bancorp
PCBC Pacific Capital Bancorp
SSBI Summit State Bank

BANKING Regional - Southeast Banks

AUBN Auburn National Banc Inc
BTFG Banctrust Financial Group Inc
HBHC Hancock Holding Co

BANKING Regional - Southwest Banks

BANF Bancfirst Corp Oklahoma
CASS Cass Commercial Corp
CBSH Commerce Bancshares Mo

BANKING Savings & Loans

ATBC Atlantic Bancgroup Inc
BFSB Brooklyn Federal Bancorp Inc
CLFC Center Financial Corp

CHEMICALS Agricultural Chemicals

AGU Agrium Inc
CENT Central Garden & Pet Co
MOS Mosaic Company

CHEMICALS Specialty Chemicals

BAK Braksem Sa
BRC Brady Corporation Cl A
CMP Compass Minerals International

COMPUTER HARDWARE Data Storage Devices

CML Compellent Technologies` Inc.
EMC Emc Corp
HTCH Hutchinson Technolgy Inc

COMPUTER HARDWARE Diversified Computer Systems

IBM International Business Machine
SGMS Scientific Games Corp

COMPUTER HARDWARE Networking & Communication Dev

LTRX Lantronix Inc
RVBD Riverbed Technologies Inc
SMSC Standard Microsystems Cp

COMPUTER SOFTWARE & SERVICES Application Software

ADBE Adobe Systems Inc
BMC Bmc Software Inc
CA Computer Assoc Intl Inc

COMPUTER SOFTWARE & SERVICES Business Software & Services

ADP Automatic Data Processng
BPHX Bluephoenix Solutions Ltd
CALD Callidus Software Inc

COMPUTER SOFTWARE & SERVICES Security Software & Services

MFE McAfee Inc

COMPUTER SOFTWARE & SERVICES Technical & System Software

MANH Manhattan Associates Inc

CONGLOMERATES Conglomerates

KT Katy Industries Inc
MITSY Mitsui & Co Ltd
MMM 3m Company

CONSUMER DURABLES Toys & Games

MAT Mattel Inc

CONSUMER NON-DURABLES Cleaning Products

DAR Darling International

CONSUMER NON-DURABLES Office Supplies

EBF Ennis Inc

CONSUMER NON-DURABLES Paper & Paper Products

IP Internat Paper Co
NP Neenah Papers Inc
UFS Domtar Corp

CONSUMER NON-DURABLES Textile - Apparel Footwear & A

CROX Crocs Inc
GIII G-Iii Apparel Group Inc

DIVERSIFIED SERVICES Business/Management Services

AM American Greetings Cp A
APAC Apac Customer Services
CDZI Cadiz Inc

DIVERSIFIED SERVICES Consumer Services

CHE Chemed Corp
KDE 4kids Entertainment Inc

DIVERSIFIED SERVICES Education & Training Services

GML Magic Lantern Group Inc
REVU Princeton Review

DIVERSIFIED SERVICES Personal Services

WU Western Union Company

DIVERSIFIED SERVICES Rental & Leasing Services

AER AerCap Holdings
CAR Avis Budget Group Inc
DTG Dollar Thrifty Auto Grp

DIVERSIFIED SERVICES Research Services

LDR Landauer Inc
SMMX Symyx Technologies Inc

DIVERSIFIED SERVICES Security & Protection Services

BCO Brink's Co
CFL Brink's Home Security

DIVERSIFIED SERVICES Staffing & Outsourcing Service

CCRN Cross Country Healthcare
HHGP Hudson Highland Grp Inc W/i
JOBS 51job Inc Ads

DRUGS Biotechnology

BIIB Biogen Idec Inc
CHTP Chelsea Therapeutics Internati
EBS Emergent BioSolutions Inc

DRUGS Diagnostic Substances

THLD Threshold Pharmaceuticals

DRUGS Drug Manufacturers - Major

BDSI Biodelivery Sciences Intl Inc
BMY Bristol-Myers Squibb Co
JAV Javelin Pharmaceuticals Inc

DRUGS Drug Manufacturers - Other

AGN Allergan Inc
ARYX Ary Therapeutics Inc
AVNR Avanir Pharmaceuticals

DRUGS Drugs - Generic

HITK Hi-Tech Pharmacal Co Inc
MYL Mylan Laboratories Inc

ELECTRONICS Diversified Electronics

ESLR Evergreen Solar Inc
KYO Kyocera Corp
MVIS Microvision Inc

ELECTRONICS Printed Circuit Boards

PLXS Plexus Corp
PTIX Performance Tech Inc

ELECTRONICS Scientific & Technical Instrum

A Agilent Technologies Inc
ALOG Analogic Corp
ATE Advantest Corp

ELECTRONICS Semiconductor - Broad Line

ADI Analog Devices Inc
AMD Advanced Micro Devices
CAVM Cavium Networks Inc

ELECTRONICS Semiconductor - Integrated Cir

ATHR Atheros Communications Inc
DIOD Diodes Inc
HITT Hittite Microwave Corp

ELECTRONICS Semiconductor - Memory Chips

MIPS Mips Technologies Inc
NETL Netlogic Microsystems Inc
RMBS Rambus Inc

ELECTRONICS Semiconductor - Specialized

MPWR Monolithic Power Systems
NVDA Nvidia Corporation
TRID Trident Microsystems Inc

ELECTRONICS Semiconductor Equipment & Mate

ASMI Asm Internat N.V.
ASX Advanced Semicondctr Ads
ASYS Amtech Systems Inc

ENERGY Independent Oil & Gas

AEZ American Oil & Gas Inc
APAGF Apco-Argentina Inc
APU Amerigas Partners L.P.

ENERGY Major Integrated Oil & Gas

COP Conocophillips
E Eni Spa Ads
REP Repsol Ypf Sa

ENERGY Oil & Gas Drilling & Explorati

BRNC Bronco Drilling Co Inc
ENP Encore Energy Partners
ERF Enerplus Resources Fund

ENERGY Oil & Gas Pipelines

BWP Boardwalk Pipeline Partners LP
CLNE Clean Energy Fuels Corp
OKS Oneok Partners LP

FINANCIAL SERVICES Asset Management

AB Alliance Bernstein Holding LP
AMPH American Physicns Svc Gp
BKF Bkf Capital Group

FINANCIAL SERVICES Closed End Fund - Debt

AKP Alliance Ca Muni Incm Fd Inc
APX Apex Municipal Fund
BAF Blackrock Fl Ins Muni Inc Trus
BFO Blackrock Fl Muni 2020
BPP Blackrock Pfd Opportunity Tr
EAD Evergreen Income Adv Fd

FINANCIAL SERVICES Closed End Fund - Equity

ADRD BLDRS Developed Markets 100 AD
AGC Advent Claymore Global Convert
AIA iShares S&P Asia 50 Index Fund
BBH Biotech HOLDRS ETF
BDD PowerShares DB Base Metals Dou
BGY Blackrock International Growth
BIK SPDR S&P BRIC 40 ETF
BME Blackrock Health Sciences Trus
CII Blackrock Cap And Inc Strat Fd
DBS PowerShares DB Silver Fund
DBV PowerShares DB G10 Harvest Fd
DEF Claymore Sabrient Defender ETF
DGL PowerShares DB Gold Fund
DGT streetTRACKS Dow Jones Global
DHS WisdomTree High-Yielding Equit
DJP iPath Dow Jones-AIG Commodity
DPD Dow 30 Premium & Dividend Inco
DPO Dow 30 Enhanced Premium & Inc
DSG streetTRACKS Dow Jones US Smal

FINANCIAL SERVICES Closed End Fund - Foreign

ADZ DB Agriculture Short ETN
APF Morgan Stan Asia-Pac Fd Inc
BZF Brazil Fund Inc
CAF Morgan Stanley China A Share
CH Chile Fund Inc
CHN China Fund Inc
DBT WisdomTree International Techn
DBU WisdomTree International Utili
DDI WisdomTree International Indus
DEB WisdomTree Europe Total Divide
DIM WisdomTree International MidCa
DKA WisdomTree International Energ
DLS WisdomTree International Small
DNH WisdomTree Pacific ex-Japan Hi
DOL WisdomTree International Large
DPC WisdomTree International Consu
DPN WisdomTree International Consu
DRF WisdomTree International Finan
DRW WisdomTree International Real
DTH WisdomTree DIEFA High-Yielding
DWM WisdomTree DIEFA Fund
EMF Templeton Emerg Mkts Fund
ETF Emerging Markt Telecm Fd
FBP-C First Bancorp 7.4% Pfd C
FXA Rydex CurrencyShares Australia

FINANCIAL SERVICES Credit Services

ACF Americredit Corp
ECPG Encore Capital Group
IX Orix Corp Ads

FINANCIAL SERVICES Diversified Investments

ACAS American Capital Strat
BPT Bp Prudhoe Bay Royal Tr
BTE Baytex Energy Inc

FINANCIAL SERVICES Investment Brokerage - Nationa

AMTD Ameritrade Holding Corporation
ISM SLM Corp
KBW KBW Inc

FOOD & BEVERAGE Beverages - Wineries & Distill

ROX Castle Brands Inc

FOOD & BEVERAGE Farm Products

CALM Cal-Maine Foods Inc

FOOD & BEVERAGE Food - Major Diversified

GAJ Gr Atl & Pac Tea
UL Unilever Plc

FOOD & BEVERAGE Processed & Packaged Goods

DMND Diamond Foods Inc
FLO Flowers Foods Inc
PEET Peet's Coffee & Tea

HEALTH SERVICES Medical Laboratories & Researc

PMD Psychemedics Corp

HEALTH SERVICES Specialized Health Services

GRMH Graymark Productions Inc
OSTE Osteotech Inc
PST Proshrs Ult Shrt Lehman 7-10

INSURANCE Accident & Health Insurance

GTS Triple-S Management Corporatio

INSURANCE Insurance Brokers

CRD.A Crawford & Co A

INSURANCE Life Insurance

AEG Aegon Nv
AXA Axa Ads
PRU Prudential Financial Inc

INSURANCE Property & Casualty Insurance

ACGL Arch Capital Group Ltd
AXS Axis Capital Holdings
BWINB Baldwin & Lyons Inc Cl B

INTERNET Internet Service Providers

BCSI Blue Coat Systems Inc
CCOI Cogent Communications Group In
GEX Globix Corp

INTERNET Internet Software & Services

CRM Salesforce.com Inc
DRIV Digital River Inc
EBAY Ebay Inc

LEISURE Resorts & Casinos

LVS Las Vegas Sands
NYNY Empire Resorts Inc
WYNN Wynn Resorts Ltd

LEISURE Restaurants

ARKR Ark Restaurants Corp
BAGL Einstein Noah Restaurant Group
CAKE Cheesecake Factory Inc

MANUFACTURING Machine Tools & Accessories

HDNG Hardinge Inc
KDN Kaydon Corp
TKR Timken Co

MANUFACTURING Metal Fabrication

LDSH Ladish Co Inc
MINI Mobile Mini Inc
MLI Mueller Industries Inc

MANUFACTURING Pollution & Treatment Controls

WPRT Westport Innovations Inc

MANUFACTURING Small Tools & Accessories

PFIN P & F Industries Cl A
SNA Snap-On Inc

MATERIALS & CONSTRUCTION Cement

EXP Eagle Materials Inc

MATERIALS & CONSTRUCTION Waste Management

RSG Republic Services Inc
WCAA Wca Waste Corp

MEDIA Advertising Services

OMC Omnicom Group Inc
WPPGY Wpp Group Plc Adr

MEDIA Broadcasting - Radio

BBGI Beasley Broadcast Grp A

MEDIA CATV Systems

BSY British Sky Broadcstg Gp
CVC Cablevision Systems Cl A
MCCC Mediacom Communication A

METALS & MINING Aluminum

ACH Aluminum Corp China

METALS & MINING Copper

FCX Freeport Mcmoran C&G B

METALS & MINING Gold

AEM Agnico-Eagle Mines Ltd
BVN Compania De Minas Buena
GLG Glamis Gold Ltd

METALS & MINING Industrial Metals & Minerals

ACI Arch Coal Inc
ANO Anooraq Resources Corp
ANR Alpha Natural Resources

METALS & MINING Silver

CDE Coeur D'alene Mines Corp
HL Hecla Mining Co
MVG Mag Silver Corp

METALS & MINING Steel & Iron

CGA Corus Group Plc
IPS Ipsco Inc
NUE Nucor Corp

REAL ESTATE Property Management/Developmen

EJ E-House China Holdings Limited
FRG Fronteer Development Group
H Realogy Corp

REAL ESTATE REIT - Diversified/Industrial

AHT Ashford Hospitality Tr Inc
AMB Amb Property Corp
BRE Bre Properties Inc Cl A

REAL ESTATE REIT - Office

BDN Brandywine Realty Trust
CLI Mack Cali Realty Corp
CRO CRT Properties Inc

REAL ESTATE REIT - Residential

AIV Apartment Invest & Mgmt
AVB Avalonbay Communities
CPT Camden Property Trust

RETAIL Catalog & Mail Order Houses

ATV Acorn International Inc.
SYX Systemax Inc

RETAIL Department Stores

KSS Kohl's Corp
MAY May Department Stores Co

RETAIL Discount

NDN 99 Cents Only Stores

RETAIL Electronics Stores

HGG HHGregg Inc

RETAIL Grocery Stores

SE 7-Eleven Inc

RETAIL Home Improvement Stores

BLDR Builders FirstSource Inc
FAST Fastenal Company
HD Home Depot Inc

SPECIALTY RETAIL Apparel Stores

CMRG Casual Male Retail Grp Inc
SMRT Stein Mart Inc

SPECIALTY RETAIL Specialty Retail

EZPW Ezcorp Inc Cl A
JAS Jo-ann Stores Inc
NRGP Inergy Holdings LP

TELECOMMUNICATIONS Long Distance Carriers

GNCMA General Communications A
GTE GlobeTel Communications Corp

TELECOMMUNICATIONS Processing Systems & Products

AV Avaya Inc
GCOM Globecomm Systems Inc
PLCM Polycom Inc

TELECOMMUNICATIONS Wireless Communications

CHL China Mobile Ltd
EMT Embratel Participacoes
KNOL Knology Inc

TOBACCO Tobacco Products

UVV Universal Corp

TRANSPORTATION Air Delivery & Freight Service

EXPD Expeditors Int Wash Inc
UPS United Parcel Service B
UTIW Uti Worldwide Inc

TRANSPORTATION Air Services

PHII Petroleum Helicopter Vtg
PHIIK Petroleum Helicopter Nv

TRANSPORTATION Major Airlines

AMR Amr Corporation
CEA China Eastern Airlines

TRANSPORTATION Railroads

CNI Canadian Natl Railway
GBX Greenbrier Companies Inc
GSH Guangshen Railway Co

UTILITIES Electric Utilities

BKH Black Hills Corp
DTE Dte Energy Co
EDE Empire District Electric

UTILITIES Gas Utilities

CPK Chesapeake Utilities Cp
GAS Nicor Inc
LG Laclede Gas Co

WHOLESALE Building Materials Wholesale

JCTCF Jewett-Cameron Trad Co
WSO Watsco Inc

WHOLESALE Computers Wholesale

EFII Electronics For Imaging
ISR I-sector Corporation
SCSC Scansource Inc

WHOLESALE Drugs Wholesale

ABC Amerisourcebergen Corp
RELV Reliv International Inc

WHOLESALE Food Wholesale

SYY Sysco Corp

WHOLESALE Industrial Equipment Wholesale

AIT Applied Industrial Tech
DXPE Dxp Enterprises Inc


---------------------------------------------
NEGATIVE VRs
---------------------------------------------
XXX CANADIAN STOCKS XXX Canadian Stocks

HJD.UN HORIZONS BETAPRO MSCI
MGO MIGAO CORP
PJC.A JEAN COUTU GROUP INC CL A
---------------------------------------------
U.S. STOCKS:
---------------------------------------------

AEROSPACE/DEFENSE Aerospace/Defense Products & S

EDAC Edac Technologies

AUTOMOTIVE Trucks & Other Vehicles

STS Supreme Industries Inc

BANKING Foreign Regional Banks

BCH Banco De Chile

BANKING Money Center Banks

GGAL Grupo Financiero Galicia

BANKING Regional - Mid-Atlantic Banks

CWBS Commonwealth Bankshs Va
MNRK Monarch Bank
PWOD Penns Woods Bancorp Inc

BANKING Regional - Midwest Banks

CNAF Commercial Natl Finl Cp
TOFC Tower Financial Corp

BANKING Regional - Northeast Banks

BCBP BCB Bancorp Inc. (NJ)
PKBK Parke Bancorp Inc
UNTY Unity Bancorp

BANKING Regional - Pacific Banks

CACB Cascade Bancorp

BANKING Savings & Loans

FFHS First Franklin Corp
GFED Guaranty Federal Bncshrs
KFED K-fed Bancorp

CONSUMER DURABLES Electronic Equipment

CSCD Cascade Microtech
DISH Echostar Communications Corp
RWC RELM Wireless Corporation

CONSUMER DURABLES Sporting Goods

HED Head Nv

CONSUMER NON-DURABLES Cleaning Products

PG Procter & Gamble Co
ZEP Zep Inc

CONSUMER NON-DURABLES Packaging & Containers

SLGN Silgan Holdings Inc

CONSUMER NON-DURABLES Personal Products

UG United Guardian Inc

DIVERSIFIED SERVICES Business/Management Services

APEI American Public Education` Inc
ARBX Arbinet-thexchange

DIVERSIFIED SERVICES Education & Training Services

CEU China Education Alliance

DIVERSIFIED SERVICES Research Services

CBMX Combimatrix
LUNA Luna Innovations Inc

DIVERSIFIED SERVICES Security & Protection Services

CKP Checkpoint Systems Inc

DRUGS Biotechnology

GTCB Genzyme Transgenics Corp
OMPI Obagi Medical Products Inc

DRUGS Diagnostic Substances

ILI Interleukin Genetics Inc

DRUGS Drug Manufacturers - Major

RIGL Rigel Pharmaceuticals Inc

DRUGS Drug Manufacturers - Other

ISPH Inspire Pharmaceuticals

ELECTRONICS Diversified Electronics

DPW Digital Power Corp

ELECTRONICS Semiconductor - Integrated Cir

SATC Satcon Technology Corp
TXCC Transwitch Corp

ELECTRONICS Semiconductor - Specialized

SOLF Solarfun Power Holdings Co Ltd
UCTT Ultra Clean Holdings

ELECTRONICS Semiconductor Equipment & Mate

AEHR Aehr Test Systems

ENERGY Independent Oil & Gas

BRN Barnwell Industries Inc
HK Petrohawk Energy Corp

ENERGY Oil & Gas Drilling & Explorati

CMZ Compton Petroleum Corp

ENERGY Oil & Gas Equipment & Services

NOA NACG Holdings Inc
PRB PRB Gas Transportation

FINANCIAL SERVICES Closed End Fund - Debt

BYM Blackrock Insured Muni Income
CFT iShares Lehman Credit Bond Fun
CIU iShares Lehman Intermediate Cr

FINANCIAL SERVICES Closed End Fund - Equity

AGG Aggregate Bond
BLV Vanguard Long Term Bond ETF
BND Vanguard Total Bond Market ETF
BOM PowerShares DB Base Metals Dou
DDG Proshares Short Oil & Gas
DEE DB Commodity Double Short ETN
DUG ProShares UltraShort Oil & Gas
EEV Ultrashort Msci Emerg Mrkt
EFU ProShares UltraShort MSCI EAFE
EFZ Proshares Short EAFE
EVX Market Vectors Environmental S
EWV Proshares Ultra Short Japan
[I just avoided being on moderation] Salomon Br Var Rte Strategic
HYD Barclays High Yield Composite

HEALTH SERVICES Medical Appliances & Equipment

AHPI Allied Healthcare Prod
MDCI Medical Action Ind Inc

HEALTH SERVICES Medical Instruments & Supplies

AIS Antares Pharma Inc
BVX Bovie Medical Systems
MELA Electro-Optical Sciences Inc

HEALTH SERVICES Specialized Health Services

CRY Cryolife Inc

INSURANCE Accident & Health Insurance

AMIC American Independence Corp

INSURANCE Property & Casualty Insurance

AHL Aspen Insurance Holdings
AWH Allied World Assurance Holding
NSEC National Security Group

METALS & MINING Steel & Iron

FRD Friedman Industries Inc
TS Tenaris Sa
USAP Universal Stain & Alloy

REAL ESTATE REIT - Residential

HIH Highland Hospitality Corp

RETAIL Catalog & Mail Order Houses

VVTV Valuevision Media Inc Cl A

RETAIL Grocery Stores

DEG Etablissements Delhaize Freres

TELECOMMUNICATIONS Communication Equipment

RFMI Rf Monolithics Inc
SWIR Sierra Wireless Inc

TELECOMMUNICATIONS Diversified Communication Serv

PCTI Pc-Tel Incorporated

TELECOMMUNICATIONS Processing Systems & Products

LVLT Level 3 Communications

TELECOMMUNICATIONS Telecom Services - Domestic

VOCL Vocaltec Communications

TOBACCO Tobacco Products

UST Ust Inc

TRANSPORTATION Railroads

PWX Providence & Worcestr Rr

TRANSPORTATION Shipping

NAT Nordic American Tnk Ship
OSG Overseas Shipholding Grp

TRANSPORTATION Trucking

DDMX Dynamex Inc

UTILITIES Diversified Utilities

WR Westar Energy Inc

UTILITIES Electric Utilities

MAM Maine & Maritimes Corp

---------------------------------------------
Ron Paul VIDEOS worth watching:

http://www.ronpaul.com/
http://tinyurl.com/yzd2t6g
---------------------------------------------

I will be speaking at the Money Show in Vancouver, April 6-8, at the Regency Hyatt Hotel. The link to the event is below:

http://www.moneyshow...s/?scode=017158
---------------------------------------------
I will also speaking at the Money Show in Last Vegas, May 10-13 at Caesar's Palace. The link to the event is below:

http://www.moneyshow...sp?scode=017336
---------------------------------------------

U.S. Has Defaulted Before, May Do So Again

Harvard professor and former IMF chief economist Ken Rogoff says the United States has been in "default" before, when it went off the gold standard, and there is no reason why it won't do so again.

He said that people generally fail to perceive how bad the problem of defaulting gross government debt is until the thresholds reach 90 percent to 100 percent of gross domestic product, or GDP.

"Up to that point, you don't notice much," Rogoff told CNBC. "And then suddenly . something's gotta give."

As an example, he points out that the United States defaulted on its debts during The Great Depression.

"We went off the gold standard," he observes, and the price of gold, which used to be $20 an ounce, suddenly jumped to $35 an ounce.

"That was a default on domestic debt," Rogoff observes. "You would be amazed at how many countries have amnesia with respect to their default(s)."

Even given that markets would give the U.S. more time before proclaiming default, another U.S. default certainly isn't out of the question now, Rogoff says.

On both sides of the Atlantic, government spending and unfunded retirement commitments continue to hit record highs, observes Encima Global head David Malpass.

"This discourages the new private-sector investment needed to create growth and all the good things that go with it: jobs, profits, house purchases and government tax receipts," Malpass writes in The Wall Street Journal.

"The fundamental issue is whether government financial crises ­ in Greece, California, New York or elsewhere ­ will cause government spending reforms," he said.

"If not, then growth, the dollar and euro are in further peril as markets force bailouts and waves of defaults."
---------------------------------------------
More Bank Closings

Regulators on Friday shuttered banks in Florida, Illinois, Maryland and Utah, boosting to 26 the number of bank failures in the U.S. so far this year following the 140 brought down in 2009 by mounting loan defaults and the recession.

The Federal Deposit Insurance Corp. took over Sun American Bank, based in Boca Raton, Fla., with $535.7 million in assets and $443.5 million in deposits. Also seized were Bank of Illinois of Normal, Ill., with $211.7 million in assets and $198.5 million in deposits; Waterfield Bank in Germantown, Md., with $155.6 million in assets and $156.4 million in deposits; and Centennial Bank in Ogden, Utah, with $215.2 million in assets and $205.1 million in deposits.

First-Citizens Bank & Trust Co., based in Raleigh, N.C., agreed to assume the assets and deposits of Sun American Bank and to share losses with the FDIC on $433 million of the failed bank's loans and other assets. It was First-Citizens' fourth acquisition of assets of a failed bank since last July; the others were First Regional Bank of Los Angeles, Venture Bank of Lacey, Wash., and Temecula Valley Bank of Temecula, Calif.

Heartland Bank and Trust Co., based in Bloomington, Ill., is buying the assets and deposits of Bank of Illinois, and is sharing losses with the FDIC on $166.6 million in loans and other assets.

For Waterfield Bank, because no buyer was found, the FDIC set up a new savings institution that will operate until April 5 to allow customers access to their deposits and give them time to open accounts at other banks.

The FDIC was also unable to find a buyer for Centennial Bank, and it approved the payout of the institution's insured deposits. As a result, checks to the retail depositors for their insured funds will be mailed on Monday. Zions First National Bank in Salt Lake City agreed to accept the failed bank's direct deposits from the federal government, including Social Security and Veterans' payments.

The failure of Sun American Bank is expected to cost the federal deposit insurance fund $103.8 million. The cost of resolving Bank of Illinois is estimated at $53.7 million; that of Waterfield Bank is $51 million; and Centennial Bank is $96.3 million.

The pace of bank seizures this year is likely to accelerate in coming months, FDIC officials have said.

As the economy has weakened, with unemployment rising, home prices tumbling and loan defaults soaring, bank failures have mounted, sapping billions of dollars out of the deposit insurance fund. It fell into the red last year, hitting a $20.9 billion deficit as of Dec. 31.

Banks, meanwhile, have tightened their lending standards. U.S. bank lending last year posted its steepest drop since World War II, as the volume of loans fell $587.3 billion, or 7.5 percent, from 2008, the FDIC reported recently.

President Barack Obama recently promoted a $30 billion plan to provide money to community banks if they boost lending to small businesses. The program, which must be approved by Congress, would use money repaid by banks to the $700 billion federal bailout fund.

But many lawmakers want the $30 billion sent directly to the federal Small Business Administration. It would then decide which businesses should get loans.

The number of banks on the FDIC's confidential "problem" list jumped to 702 in the fourth quarter from 552 three months earlier, even as the industry squeezed out a small profit. Banks earned $914 million, compared with a $37.8 billion loss in the fourth quarter of 2008, at the height of the financial crisis. Still, nearly one in every three banks reported a net loss for the latest quarter.

The 140 bank failures last year were the highest annual tally since 1992, at the height of the savings and loan crisis. They cost the insurance fund more than $30 billion. There were 25 bank failures in 2008 and just three in 2007.

The FDIC expects the cost of resolving failed banks to grow to about $100 billion over the next four years.

The agency mandated last year that banks prepay about $45 billion in premiums, for 2010 through 2012, to replenish the insurance fund.

Depositors' money -- insured up to $250,000 per account -- is not at risk, with the FDIC backed by the government. Apart from the fund, the FDIC has about $66 billion in cash and securities available in reserve to cover losses at failed banks.


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