- Consumer credit fell at an annual rate of $3.51 billion in October. As opposed to the $9.3 billion by Economist.
- Demand for revolving credit, fell 9.3%, while borrowing in the category that include auto loans rose at an annual rate of 2.6%
- Americans are still borrowing less as they try to replenish depleted investments. Many are finding it hard to get credit as banks have tightened lending standards.
- The 1.7% fall in overall consumer borrowing left that total at an annual rate of $2.48 trillion in October. The $3.51 billion fall in October followed a decline of 48.77 billion in September.
- The 9.3% decline in the credit card category followed declines of 10.5% in September and 10.6% in August.
- All in all, credit card borrowing has fallen for a record 13 straight month.
Consumer credit improves much better than expected
Companies that has been growing throughout the recession
Company | Market Cap | Product Categories | 2007 Sales Growth | 2008 Sales Growth | TTM Sales Growth |
|---|---|---|---|---|---|
Green Mountain Coffee Roasters (Nasdaq: GMCR) | $3.2 billion | Specialty coffee and brewing systems | 51.6% | 46.4% | 56.1% |
Hansen Natural (Nasdaq:HANS) | $3.4 billion | Nonalcoholic specialty beverages | 49.3% | 14.3% | 9.7% |
TreeHouse Foods | $1.1 billion | Packaged foods and sauces | 23.3% | 29.6% | 9.5% |
Jarden (NYSE: JAH) | $2.4 billion | Home, recreation, and outdoor | 21.2% | 15.5% | (2.8%) |
Hasbro | $3.9 billion | Toys and games | 21.8% | 4.8% | (4.0%) |
Tupperware Brands (NYSE:TUP) | $2.9 billion | Food storage, beauty, and personal care | 13.6% | 9.1% | (8.7%) |
Data from Yahoo! Finance and Capital IQ as of Oct. 26. TTM = trailing 12 months.
Exxon-Mobile’s breakout (XOM)
Beautiful triangle breakout on Exxon-Mobile. Bought this on the pinkish colored red line @ $66.55 on October 2nd, 2009 and am so glad to have made the purchase especially after seeing it break out finally on the upside. A wedge formation like this statistically results in a huge move depending on where the triangle breaks and today’s break is on the upside. Hoping to see a continuation tomorrow with a much higher volume especially when everyone’s back from Columbus day holiday.
Rally in $AAPL is insane
Just want to say that the rally in Apple shares is insane. Barely even crossed the oversold levels on the Stochastics RSI of 20 every time it rushes to new highs since July 9th, 2009.
