Two Big Reasons You Should Still Worry About This Market

With stocks bouncing back, and the economy showing signs of not dying, you may be tempted to finally relax a little bit, and get some sleep, feeling confident that 2011 is more likely to be a replay of 2010 than 2008.

Maybe.

But even amidst the positive energy of the past two weeks there were red flags popping up.

The first is extreme correlation: Even on the good days, EVERYTHING that's not the dollar is going up. We keep pointing this out, that gold, for example, has been doing the exact same thing as stocks day in and day out. But it's not just that. Gold, Swiss Franc, the euro, equities, copper, silver, etc. all moving the same in lockstep. One day the dollar is down and they're all up, and one day the dollar is up and they're all done.

The general belief is that extreme correlation is a sign of market pressure -- of an unhealthy market that wants to snap.

And in fact there are others signs of this as well.

Various measures of funding strain, like LIBOR rates, continue to shoot up, with no slowdown, basically ever since the beginning of August.

Of course, a little perspective is needed on this front. We're still nowhere near as bad as where things were the great financial crisis.

Bottom line though: There ARE signs of worsening strain on the system, persisting even as things have gotten better over the last few days. Until you see correlations fade and some of these bank funding measures improve, better not turn your back.

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Microsoft Still Loves Yahoo, Even Without Bartz (MSFT, YHOO)

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At a meeting with financial analysts this afternoon, an audience member asked Microsoft executives if the changes at Yahoo would affect the two companies' search deal.

CEO Steve Ballmer gave a pretty definite "no." Here's what he said:

There are hundreds of millions people every day using Yahoo services....We talked with Tim Morse and our partnership will remain strong, no matter where they want to take their business.

Microsoft's Online leader Qi Lu -- who formerly worked in search at Yahoo -- clarified that the contract remains in place regardless of who's in charge, and said that the leadership change does not alter how Microsoft is working with Yahoo's engineers, ad sales teams, and platform teams.

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There's Only One Currency That's Still Doing Better Than The Dollar

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With everything getting smashed today, the dollar is on a complete tear against everything.

The commodity currencies (Aussie, Canadian dollar) are getting hit. Gold is getting hiw. The SWISS FRANC is getting hit.

The one currency that keeps chugging away to new highs?

The Japanese yen, the country that the US is currently trying to model itself after.

Here's a look at the dollar vs. the yen going back a little bit. You can see the dollar keeps grinding lower against it.

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Yes, Android Fragmentation Is Still A Huge Problem. This Chart Proves It (GOOG)

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We know that one of the biggest problems facing Android is fragmentation.

Google knows that too.

That's why it announced the Android Update Alliance at Google I/O in May. The alliance is made up of a bunch of smartphone manufacturers and is supposed to make sure phones stay up to date when Google releases new versions of Android.

The alliance also pledges to keep phones update for at least 18 months.

So how are they doing? Android And Me conducted a great study breaking down all the Android phones out now and the versions they're running.

As the chart below shows, manufacturers are still pretty slow to update their phones to the latest version of Android, 2.3 Gingerbread. Many are still running version 2.2 or earlier. And in many cases, it took several months for manufacturers to finally get to Gingerbread.

Check out the chart below for a breakdown. Then click here to read the complete study with even more charts and graphs >

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Why There's Still No Housing Bottom In Sight

At the end of June 2011, macromarkets.com released the results of a poll in which 108 leading economists and housing market analysts were asked to predict the direction of home prices from now until 2015.

All except four of them predicted that housing markets around the country would hit bottom no later than the end of 2012 before climbing again.

Only one of them thought that home prices would not hit bottom until the end of 2013.

By way of contrast, a survey of consumers released in May by trulia.com and realtytrac.com found that 54% thought that a housing market recovery would not occur until “2014 or later.”

My premise is simple: There is no housing bottom in sight. To test this assertion, let’s take a brief look at three major metro markets and see what I’ve found.

Phoenix

Speculative madness took over the Greater Phoenix market in 2004-2005. When the speculators tried to unload their properties en masse in 2006, the market collapsed and has never recovered. Take a good look at this revealing chart courtesy of FNC.com.

The chart is an index of sale prices only for single-family homes in Maricopa County (where Phoenix is situated) that had between 1,500 and 3,000 square feet of livable space. That is the heart of the Phoenix market. It reveals that there was no upturn in prices during the period of the first-time buyer tax credit until its expiration in the spring of 2010. This chart actually surprised me.

Since that expiration, the median price for all homes sold in Greater Phoenix in April of this year was down a whopping 13% from a year earlier. In spite of this, several Phoenix housing analysts whom I respect have declared that the Phoenix market hit bottom in the beginning of 2011.

These analysts also point out that sales to out-of-state investors paying cash are soaring. Many are bidding up prices at the trustee auctions. In June, prices paid at the auctions was nearly 60% higher than the overall median price for all Phoenix sales according to foreclosureradar.com. Are these all-cash investors overpaying? Why would a smart investor bid against other investors at these auctions when they can quietly buy a bank REO on the market?

What these analysts overlook is the “shadow inventory” which could be the key to understanding the direction of home prices. In early July, my data contact at CoreLogic provided me with the latest figures from their massive first lien database. It showed that roughly 60,000 first liens in Greater Phoenix were either in default with a notice of foreclosure sale date or seriously delinquent by more than 90 days but without a sale date yet. None of these properties has been foreclosed and repossessed by the banks.

My CoreLogic source has explained that their first lien database does not include the entire first mortgage universe in most metros. Thus the total number of seriously distressed properties not yet repossessed is higher than CoreLogic’s figure.

I have posted a cure rate chart in a few of my articles which shows that roughly 96-98% of these seriously delinquent properties will hit the market in the not-too-distant future either as foreclosures or short sales. Does anyone really think that the Phoenix market can accommodate that huge a number of distressed properties without a further decline in prices? I don’t.

Let’s not forget the matter of second liens. Last September, I wrote about the major problem of home equity lines of credit (HELOC) taken out during the bubble years of 2004-2006. Nationwide, roughly 13 million of them are still outstanding. (See also: Home Equity Lines of Credit: The Next Looming Disaster?)

The Wall Street Journal finally recognized the magnitude of this problem when it posted a front-page story on June 7 of this year about CoreLogic’s latest report on negative equity. It briefly noted that the percentage of homeowners with second liens who were “underwater” on their property was twice as high as those with only first liens.

In Maricopa County, there were more refinancings originated in 2004-2006 than the total number of first liens outstanding today in the county. I was puzzled until I figured out that most of these refinanced loans were second liens, not first mortgages. Homeowners could not resist the temptation to pull cash out of their “piggy-bank” home when prices were soaring. The banks were only too happy to accommodate them.

It is no exaggeration to say that more than 95% of properties in Phoenix with HELOCs are badly underwater. Because most negative equity reports do not include second liens, the percentage of Phoenix homeowners whose property is underwater is much higher than these reports indicate.

I have also written recently about strategic defaults (see Strategic Defaults Revisited: It Could Get Very Ugly). Two studies that I reviewed clearly showed that strategical defaults (“walkaways”) rise as home prices decline and homeowners go further underwater. That is what will undoubtedly happen in Greater Phoenix as prices erode further. It is a vicious circle. Talk of a housing bottom in Phoenix is very premature.

Las Vegas

Like Phoenix, Las Vegas was a hotbed of speculative excesses in 2003-2004. Take a look at this little-known chart from CoreLogic.

The chart shows what percentage of all sales were by flippers who had purchased the property within the previous two years. Look at the percentage for flips in Clark County (where Las Vegas is situated). When speculators unloaded their properties in large numbers, the bubble burst and the market collapsed. It has not recovered.

As with Phoenix, the housing market in Greater Las Vegas has been kept from collapsing by the influx of cash investors who have focused on the thousands of low-priced foreclosure properties. Can these cash investors help to support prices? It’s extremely unlikely. In May, the Greater Las Vegas Association of Realtors reported that the median price per square foot was actually down to the lowest level since 1995.

What about the shadow inventory in Las Vegas? At the end of April, CoreLogic counted more than 50,000 properties in Clark County which were either in default with a notice of default (NOD) recorded or delinquent by more than 90 days without an NOD yet. As with Phoenix, that is not the complete total of seriously delinquent properties in Clark County. Practically all of them will be thrown onto the market over the next few years.

Let’s not forget the huge number of REOs owned or serviced by the banks. They will also be coming onto the market at some time in the not-too-distant future.

Like Phoenix, there are also a massive number of second liens in Greater Las Vegas which were originated in 2004-2006. Many of them were refinanced so the owner could tap the “piggy-bank” home for cash. Similar to Phoenix, 95-98% of these homes with second liens are badly underwater now.

With this massive shadow inventory and REOs overhanging the Las Vegas Market, any talk of a bottom for the housing market is little more than wishful thinking.

Miami

As the flippers chart makes clear, speculative madness dominated Miami-Dade County as well. When the speculators tried to unload their properties en masse, sales and prices collapsed as they had done in Phoenix and Las Vegas.

Like Phoenix and Las Vegas, the median price per square foot for resale houses in Greater Miami has plunged by more than 50% from the peak in 2006. In April 2011, it was down by 8.5% over a year earlier. How much lower can it possibly go?

As with the other two metros, the shadow inventory in Miami may provide the answer to where prices are headed. Once again, I turned to CoreLogic and its massive first lien database. My data contact informed me that the number of first liens either in default or seriously delinquent by more than 90 days is larger than that of Greater Phoenix even though Miami-Dade County has only half the number of first liens. Greater Miami’s shadow inventory as a percentage of all first mortgages is the highest in the nation.

When you add in the huge number of second liens taken out by homeowners during the bubble years, the percentage of underwater homeowners whose property has not yet been foreclosed is almost beyond comprehension.

Adding to the problem, servicing banks are keeping nearly all REOs off the market. Can these servicing banks continue to hold these repossessed homes off the market indefinitely? I doubt it.

When the seriously delinquent properties begin to be repossessed in larger numbers and the banks start to work off their REO inventory, prices will be devastated.

Conclusion

As I’ve delved deeper into the “shadow inventory” for the markets I cover in my Housing Market Report, it has become increasingly clear that this huge and growing number of seriously delinquent homeowners may be the key to understanding where nearly every major housing market will be heading. It is not a pretty picture to contemplate. But ignoring it is no way to prepare for what is coming.

This post originally appeared at Minyanville.com.

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Meanwhile, Greece Is Still In Its Own World...

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Despite the quietly positive day in Europe, Greece is still in its own world, as markets give up hope.

Athens stocks are off about 1% and the Greek 2-year has just passed 55%.

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French Startups Are Still On A Roll

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75 venture deals in eight months isn't huge yet, but this only includes institutional VCs, and what matters is the trend: the French online ecosystem is still surging. 

(Via FrenchWeb in French)

Don't Miss: #LEWINNING: Meet 12 French Startups To Reckon With ?

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The Market Is STILL 48-60% Overvalued

Doug Short is the vice president of research at Advisor Perspectives.

Note from dshort: I have low confidence is the Q ratio this month.

The Flow of Funds data on which it's based is increasingly stale.

The latest release in June includes data through Q1 2011.

The new Flow of Funds release will be available on September 16th. I'll update this commentary that afternoon.

The Q Ratio is a popular method of estimating the fair value of the stock market developed by Nobel Laureate James Tobin.

It's a fairly simple concept, but laborious to calculate.

The Q Ratio is the total price of the market divided by the replacement cost of all its companies.

Fortunately, the government does the work of accumulating the data for the calculation.

The numbers are supplied in the Federal Reserve Z.1 Flow of Funds Accounts of the United States, which is released quarterly.

The first chart shows Q Ratio from 1900 to the present.

I've estimated the ratio since the latest Fed data (through 2011 Q1) based on a combination of the price of VTI, the Vanguard Total Market ETF, and an extrapolation of the Z.1 data itself.

Interpreting the Ratio

The data since 1945 is a simple calculation using data from the Federal Reserve Z.1 Statistical Release, section B.102., Balance Sheet and Reconciliation Tables for Nonfinancial Corporate Business. Specifically it is the ratio of Line 35 (Market Value) divided by Line 32 (Replacement Cost). It might seem logical that fair value would be a 1:1 ratio. But that has not historically been the case. The explanation, according to Smithers & Co. (more about them later) is that "the replacement cost of company assets is overstated. This is because the long-term real return on corporate equity, according to the published data, is only 4.8%, while the long-term real return to investors is around 6.0%. Over the long-term and in equilibrium, the two must be the same."

The average (arithmetic mean) Q Ratio is about 0.71. In the chart below I've adjusted the Q Ratio to an arithmetic mean of 1 (i.e., divided the ratio data points by the average). This gives a more intuitive sense to the numbers. For example, the all-time Q Ratio high at the peak of the Tech Bubble was 1.82 — which suggests that the market price was 158% above the historic average of replacement cost. The all-time lows in 1921, 1932 and 1982 were around 0.30, which is about 57% below replacement cost. That's quite a range.

Another Means to an End

Smithers & Co., an investment firm in London, incorporates the Q Ratio in their analysis. In fact, CEO Andrew Smithers and economist Stephen Wright of the University of London coauthored a book on the Q Ratio, Valuing Wall Street. They prefer the geometric mean for standardizing the ratio, which has the effect of weighting the numbers toward the mean. The chart below is adjusted to the geometric mean, which, based on the same data as the two charts above, is 0.65. This analysis makes the Tech Bubble an even more dramatic outlier at 179% above the (geometric) mean.

Extrapolating Q

Unfortunately, as I mentioned earlier, the Q Ratio isn't a very timely metric. The Flow of Funds data is over two months old when it's released, and three months will pass before the next release. To address this problem, I've been making estimates for the more recent months based on changes in the market value of the VTI, the Vanguard Total Market ETF. In an effort to improve my estimates, I'm now using a combination of the VTI price change and an extrapolation of the Flow of Funds data itself.

Bottom Line: The Message of Q

The mean-adjusted charts above indicate that the market remains significantly overvalued by historical standards — by about 48% in the arithmetic-adjusted version and 60% in the geometric-adjusted version. Of course periods of over- and under-valuation can last for many years at a time, so the Q Ratio is not a useful indicator for short-term investment timelines. This metric is more appropriate for formulating expectations for long-term market performance. As we can see in the next chart, the current level of Q has been associated with several market tops in history — the Tech Bubble being the notable exception.

Please see the companion article Market Valuation Indicators that features overlays of the Q Ratio, the P/E10 and the regression to trend in US Stocks since 1900. There we can see the extent to which these three indicators corroborate one another.

Footnote on intangibles: I frequently receive emails asking about the absence of a line item for intangibles in my Q Ratio analysis. On this topic I defer to Andrew Smithers, who touches on the topic in the FAQs on his website:

Does the Existence of Intangible Assets Invalidate q?

No, the evidence is that that the aggregate value of intangibles, if any, does not change over time relative to the replacement value of tangible assets. This is shown by the mean reversion of q relative to its average. For an academic analysis see "What Does q Predict?" by Donald Robertson and Stephen Wright, available on http://www.econ.bbk.ac.uk/faculty/wright.

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Ron Paul STILL Thinks FEMA Should Be Abolished

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Even as Hurricane-turned-Tropical-Storm Irene continued to sweep up the East Coast, leaving 2 million people with out power, perennial contrarian Ron Paul held fast to his conviction that FEMA should be abolished.

Appearing on Fox News Sunday, the 2012 presidential candidate laughed off the suggestion that the agency's response to Irene may have changed his mind, saying that the agency is "deeply flawed" and has "one of the worst reputations for a bureaucracy ever."

"We've conditioned our people that FEMA will take care of us and everything will be OK," Paul said, "[You] try to make these programs work the best you can, but you can't just keep saying, 'Oh, they need money.' ... Well, we're out of money, this country is bankrupt….Anybody who wants to defend this department and this agency, they have a tough argument to argue for."

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Bernanke Finally Admits Economic Realities And Still The Fed Does Nothing

One positive thing in Bernanke’s speech — I’m trying to look on the bright side — is that for what seems to me the first time he has more or less acknowledged that we are not, in any real sense, experiencing a recovery:

Notwithstanding these more positive developments, however, it is clear that the recovery from the crisis has been much less robust than we had hoped. From the latest comprehensive revisions to the national accounts as well as the most recent estimates of growth in the first half of this year, we have learned that the recession was even deeper and the recovery even weaker than we had thought; indeed, aggregate output in the United States still has not returned to the level that it attained before the crisis. Importantly, economic growth has for the most part been at rates insufficient to achieve sustained reductions in unemployment, which has recently been fluctuating a bit above 9 percent.

Indeed. I usually illustrate the unrecovery using the employment-population ratio, but here’s an alternative, the ratio of real GDP to the CBO estimate of potential (which is the level consistent with stable inflation, not the absolute maximum the economy can produce):

Does that look like a solid if slow recovery? Of course not.

Ideally, the realization that the economy is not healing would spur the Fed to take the kind of action Bernanke recommended a decade ago when Japan was similarly in a long-term trap.

Not yet, however.

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MOSSBERG: "Extremely Well Informed Sources" Say Steve Jobs Will Still Work On Major Products And Strategy (AAPL)

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Though Steve Jobs is stepping down as CEO of Apple, he will remain a key figure in the company, writes All Things D cofounder Walt Mossberg:

To be very clear, Mr. Jobs, while seriously ill, is very much alive. Extremely well-informed sources at Apple say he intends to remain involved in developing major future products and strategy and intends to be an active chairman of the board, even while new CEO Tim Cook runs the company day to day. So, this is not an obituary. But his health is reported to be up and down, and even an active chairman isn’t the same as a CEO.

What might be the next revolutionary product from Apple? Mossberg suggests it will be an Apple TV:

Now, rumors are rife that Apple is working on re-inventing another common device: the TV. The secretive company won’t say a word about that, but nobody should be surprised if it happens, just based on Mr. Jobs’ track record.

Mossberg isn't going to just toss out some random rumor at the end of a big post on Jobs. This is probably the next big thing Apple has cooking up. So, if you're worried about the company's future, this should provide some solace.

Read Mossberg's full essay ?

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U.S. ecommerce spending still growing at a double-digit clip: report

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Posted 09 August 2011 15:45pm by Patricio Robles with 0 comments

Online retail in the United States is what most of us would consider a 'mature market', but that doesn't mean that its days of double-digit growth are behind it.

According to comScore, online retail spending hit $37.5bn in the second quarter of 2011, up from just under $33bn in the second quarter of 2010. That marks a 14% year-over-year jump.

As has been typical in past years, sales in the second quarter of the year are actually lower than sales in the first quarter, as consumers settle into a post-holiday shopping season pattern.

But this year's 14% second quarter year-over-year increase is notable for two reasons:

It's the largest Q2 increase since 2007, when spending rose 23%. 2007, of course, was the year before the global economy became unhinged. Thanks to the economic downturn, online retail spending actually had negative growth in the fourth quarter of 2008 and the second and third quarters of 2009.In absolute dollar terms, online retail sales hit an all-time second quarter high this year.

So what can we glean from this? Clearly, the market for online retail in the United States still has quite a bit of momentum.

Tanking global stock markets could hint that another recession is a possibility. That wouldn't be welcome news for a global economy that has already been bruised and battered quite a bit in the past few years.

But even if the global economy slips again, comScore's data hints that online retail has plenty of room to grow, and while it isn't immune from the rest of the economy, the long-term trajectory will help the market snap back and reach greater heights once it rebounds.

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Best Still – Point & Shoot Digital Cameras

The Point and Shoot digital camera has got a firm acclaim worldwide. The point and shoot cameras offer a maximum resolution of near to 14 mega pixels. These digital camera are easily affordable as they are available from a price range of $ 160 to $ 400 and its possible to get the best of the best at $ 400 too.

Last time we have gone through the best DLSR digital camera and here we go with the best digital camera suited for point and shoot photography.

Canon Powershot PowerShot SD1300 Digital Camera

The Canon Powershot SD1300 digital camera has 28 mm wide angles lens with 4 x optical zoom to get the snaps of closes up. The PowerShot SD1300 is equipped with Canon Opitcal Image Stabilizer which detects and corrects camera shakes.

It has got 12.1 mega pixel resolution camera which lets you create impressive and large enough photos which can be enlarged up to 13 x 19 inches. And the 2.7 inches LCD screen provides excellent control while framing your shots.

With various shooting modes and image stabilization features makes the PowerShot SD1300 from Canon as the best suited for still photos.

Canon Powershot SD1400 Digital Camera

Canon Powershot SD1400 features a 14.1 mega pixel impressive camera quality with 4 x wide-angle optical image feature. It has 2.7 inches LCD black screen for instant preview of the pictures and video recorded.

It features a smart shutter sound technology in which it includes smile self-timer, wind self-timer and face self-timer which detects the faces in scene and releases. The depth and clarity with this Canon camera during the low light conditions it’s exceptionally good enough. It comes with 22 shooting modes for the best possible photos.

The camera is can easily record videos at 720 pixels and makes easy to enjoy HD movies on your HDTV with mini HDMI connector.

The Canon Powershot SD1400 is available at a price of $ 180 to $ 200.

Panasonic Lumix DMS ZS7 Digital Camera

The Panasonic Lumix DMS ZS7 has got 12.1 Mega pixel camera with 12x optical image zoom capabilities and 3 inches LCD screen.

It delivers AVCHD Lite HD movies recording with the 25mm wide-angle through its optical zoom lens. The Intelligent Resolution technology is capable of zoom ratio by approx. 1.3x maintain picture quality at its best.

Panasonic Lumix DMS ZS7 includes a GPS option for movies and photos which when turned on the location data and time are automatically updated.

Panasonic Lumix DMS ZS7 is priced at $ 450 to $ 500 and its available at various sellers online at Amazon.

Sony DSC W350 Digital Camera

Sony is the best in digital imaging and it can be proved with Sony DSC W350 digital camera which as amazing Carl Zeiss 26 mm wide lens. It has got impressive 14.1 mega pixel Super HAD CCD Image sensor which creates amazing and stunning photos. With the professional Carl Zeiss 4x optical zoom lens you get a better image for various photo needs.

It also has 2.7 inches clear Photo LCD display with sharp, natural colors and easy to navigate buttons.

One of the features I should mention about DSC W350 is that it has got Sweep Panorama Mode which allows taking the picture in wide panorama rather than standard image size. Apart from that it also records video in the known MP4 format. With various other features makes the Sony DSC W350 as the best photo camera with still photos.

With a price range of $ 180 to $ 200, it’s also makes it affordable with the features that it has. I would say, you can’t expect more than this and should be straight pick for the users.

Nikon Coolpix S8100 Digital Camera

Nikon Coolpix S8100 is an impressive digital camera with impressive 12.1 megapixel image clarity. It has got CMOS sensor which allows taking picture even in low light conditions. It features a 10x wide angle optical zoom Nikkor ED glass lens.

Nikon Coolpix S8100 features 3 inches Ultra High Resolutions clear color display and its possible to have full HD 1080pixelk video recording with different modes. It also includes a HDMI output port.

It also includes Optical VR Image Stabilization to minimize the effects of camera shake. The Nikon Best Shot Selector will automatically take up to ten shots and only saves the sharpest image. Provided with EXPEED C2 processor for imaging camera it provides fine detail and processing speed.

The Nikon Coolpix is priced at $ 230 to $ 250 and it its availbable with various seller at Amazon with new model, used mode and refurbished model.

Panasonic DMC FX75K Digital Camera

Panasonic DMC FX75K with 14.1 mega pixel resolution and 5 x optical zoom makes the best of your still photograph images. It features a full touch screen operation with its 3 inches LCD screen. It has Venus Engine HD II image processor and you can expand the memory using the SD/SDHC memory cards.

It’s priced at $ 200 to $ 220 and available on Amazon from New, Used and Refurbished options by various sellers.

Sony CyberShot DSC HX5V CMOS Digital Camera

The Sony CyberShot DSC HX5V has got impressive 10.2 megapixel camera with CMOS sensor for amazing low light performance. The iSweep Panorama mode captures the best panoramic images. The 1080i AVCHD provides high quality HD video recording.

It provides 10 x optical zoom through the G lens with 25 mm wide angle. With variety of storage options, the Sony Cybershot DSC HX5V is the best still photos camera. Its available at a price of $ 225 to $ 250.

Canon PowerShot SX210IS Digital Camera

Canon PowerShot SX210IS is a powerful digital camera with 14x optical zoom with image stabilizers and improved dynamic mode for enhanced image stabilization.

It has got 28 mm wide angle lens and 3 inches PureColor System LCD display. It’s possible to have 720 pixel HD video recording capabilities. It has got HDMI out port with the DIGIC 4 Image Processor.

The Canon PowerShot SX210IS digital camera is best suited for still photography.

Panasonic Lumix DMC TS2 Digital Camera

Panasonic Lumix DMC TS2 has 14.1 mega pixel impressive camera quality. It has 2.7 inches LCD display has provides digital zoom level up to 4x. It comes with the tag as waterproof, dustproof and freeze proof.

In addition of recording Motion JPEG images, the Lumix DMC TS2 can now record high-definition motion videos. With Power Optical Image Stabilizer corrects the hand shake correction.

FujiFilm FinePix F80EXR Digital Camera

The FujiFilm FinePix F80EXR is a digital camera with Super CCD EXR sensor and it has 3 inches LCD screen for the pictures and video preview. It provides a 10x digital zoom and has the mini HDMI connectivity port. It’s possible to get full HD 720 pixel video recording and it has the features like tracking auto focus, pet detection, super intelligent flash, face detection and automatic red-eye removal.

The FujiFilm FinePix is good enough to be on the list of best point and shoot for still photos among the digital cameras.

Yogesh Patel is a writer of technology gadgets, digital products like mobile phones, tablets PC, laptops & notebooks & on anything that is related to the gadgets which makes the daily lifestyle easier.

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