Archive for 2012

Economic Report Card – Fail

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

From Jim Quinn of The Burning Platform

Economic Report Card – Fail

We are now three and one half years into Barack Obama’s presidency. I thought a few pertinent charts would help us assess the success of his economic policies. Upon his election he demanded an $800 billion stimulus package in order to keep the unemployment rate from surpassing 8%. The $800 billion was to be spent over two years we were told and then government spending would be scaled back to pre-stimulus levels. There were 145 million Americans employed when Obama was elected. There are 9 million more working age Americans today than there were in 2008. There are now 142.4 million employed Americans. So, we’ve added 9 million potential workers and still have 2.6 less Americans employed. We have the same number of Americans employed as we did in early 2006, when there were 17 million less working age Americans.

The Obama stimulus plan was passed with everything he wanted. Democrats controlled the House and Senate and gave him exactly what he proposed. By October 2009, the unemployment rate was 10%. Obama’s stimulus package and economic policies have been so successful that he has been able to get the unemployment rate all the way down to 8.2% after three and one half years, even though he said his stimulus package would keep the unemployment rate under 8%. And all it took to get the unemployment rate down to 8.2% was for 8 MILLION Americans to leave the labor force. A critical thinking person who doesn’t swallow the crap peddled by the BLS and the rest of the government propaganda machine might question WHY 8 million Americans would leave the workforce when people desperately need income. If the labor participation rate had stayed constant, the current unemployment rate is 10.9%.

070612rbjune

The long-term chart below tells the true story. The BLS classifying millions as not in the labor force is a crock. The Obama apologists and sycophants peddle a false storyline about Baby Boomers retiring as the cause for this labor force decline. The fact is people over the age of 55 have the highest participation rate in history and it continues to rise. Of the 142.4 million employed Americans, only 114 million works more than 35 hours per week, with 28.4 million working part-time. That means that 20%…
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The Black Hole of Jobless in America

Courtesy of ZeroHedge. View original post here.

Submitted by EconMatters.

By EconMatters

June employment report from the BLS said the economy added 80,000 jobs (+84,000 in private sectors, -4,000 in government jobs) in June.  The unemployment rate is unchanged at 8.2% from May, while the U-6 under-employment rate rose 0.1% from May to 14.9% (in 2007, the rate was 8%).  The jobless rate has stuck above 8% for over three years since February 2009, the longest such stretch on record since 1948. 


Even though the total employed jumped by 128,000, the jobless rate remained the same, partly because the labor force increased by a larger 189,000.   That is not a good sign when the labor force is growing faster than job growth, as it suggests the unemployment rate could hit higher if the trend continues.  Out of the total unemployed, 41.9% or 5.4 million is trapped in the long-term unemployed category (jobless for 27 weeks and over), while growth in private payrolls was the weakest in 10 months.


New Jobs in the USA (Sept. 2008 to June 2012)

 

Chart Source: Flaglerlive.com

 

The better news is that the jobless picture, while still gloomy, at least seems holding steady and not deteriorating.  The bad new is that don’t expect we can dig out of this unemployment hole any time soon either.  


At an April 25 press conference, Fed Chairman Bernanke said about 100,000 a month job growth is needed just to stabilize the jobless rate, while 150,000 to 200,000 a month of new jobs are needed to reduce it.  The latest estimation from the CBO (Congressional Budget Office) implies that roughly 90,000 jobs a month is needed to keep up with
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Things That Make You Go Hmmm – Such As The Transition From Conspiracy Theory To Conspiracy Fact

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

From Grant Williams, author of Things That Make You Go Hmmm,

Attempts to manipulate free markets invariably end badly – after all, they are, supposedly, by their very nature, free.

Over the past few weeks, the exposure of the Libor-rigging scandal has monopolized the headlines of the financial press and inveigled its way onto the front pages of every major news publication in the world through the sheer size and scale of the story.

Something as big as this just CAN’T be hidden from the public.

Only… it can.

It has been. It no doubt still is to a certain extent. I’m not going to go through all of the events of the past few weeks as you are no doubt familiar with them, but [simply understanding how LIBOR works makes for a simple conclusion].

I’m afraid it’s rather obvious. Given that almost half the reported inputs that help establish the Libor rate are discarded immediately, Barclays simply CANNOT have manipulated the Libor rate alone. Period.

What’s more, to effectively ensure the rate is set at the price required, you’d need to not only establish the highest and lowest 25% of prices, but then ensure the remaining 50% average out to the required rate and, based on the fact that there are 16 banks that submit rates, that would mean about 13 of the 16 involved would need to be complicit.

As a very good friend of mine put it earlier this week; at best this is a cartel, at worst it’s outright fraud on a scale that is completely unprecedented.

So for five years there have been attempts to fix the Libor rate and, take it from me, during that time, many inside the financial industry were familiar with the rumors of such manipulation but it was another huge scandal with such highpowered connected interests that it would no doubt be brushed squarely under the carpet. Forget ‘too big to fail’. This was ‘too deep to prove’.

Libor is so important to so many people in the financial industry that the question of why it was manipulated really ought to be framed differently:

Assuming you COULD manipulate something as important and potentially beneficial as the Libor rate with such ease for


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Key Events In The Coming Week

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

A preview of the key events in the coming week (which will see more Central Banks jumping on the loose bandwagon and ease, because well, that is the only ammo the academic econ Ph.D’s who run the world have left) courtesy of Goldman Sachs whose Jan Hatzius is once again calling for GDP targetting, as he did back in 2011, just so Bill Dudley can at least let him have his $750 million MBS LSAP. But more on that tomorrow.

What Matters in FX This Week : China Growth and Inflation Data, Ecofin Meeting, FOMC

The past week undid a large part of the constructive price action posted the week before and a significant part of the progress made following the Euro-area summit. First off, it was a data heavy week, during which, key releases such as the ISM and Payrolls disappointed, but not to an extent that would justify further and imminent easing of monetary policy by the Fed. Overall, the deterioration in activity and the higher threshold for Fed easing continue to push the dollar higher and continue to challenge our FX views, which are predicated on dollar weakness.

On the European front, the ECB cut both the refi and the deposit rate by 25bps, pushing the EUR lower against most trading partners. Despite broader risk-off sentiment, EUR under-performed even currencies highly sensitive to global growth like NJA FX and AUD.

The latter were broadly supported by the announcement that China eased policy rates following softer growth and inflation prints. The recovery in metals and oil prices backed the market view that policy driven demand strength in Asia may prove to be a bright spot amid this generalized deceleration in DM growth. More broadly, although our GLI indicator has shown signs of deeply negative momentum in global industrial output, it is also true that PMI data hints at underperformance of DM growth vs EM.

Net-net, this has resulted in further demand for “short DM vs long EM” trades but in a risk-neutral way. The most obvious candidate over the last few weeks has been the EUR; short EUR vs long commodity or EM FX positions have attracted considerable market interest. However, the key question remains how resilient will EMs prove to be should DM growth continue to deteriorate and risk aversion continues…
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Japan Machinery Orders Implode As Global Economy Grinds To A Halt

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Japan’s core machinery orders were expected to post a modest -2.6% drop. Instead they had a worse collapse than anything seen in the aftermath of the Fukushima disaster, plunging by a stunning 14.8% . And the kick in the groin cherry on top was the current account surplus plunged by 62.6%: consensus forecast: -14.5%. The Japanese economy has once again ground to a halt, only this time it has no earthquake or nuclear explosion to blame. This time it is the entire world’s fault, where demand has collapsed proportionately. As a reminder the BOJ expanded its QE yet again on April 27. Must be time for another QE because this time will certainly be different after more than 30 years of failures.  It is time for those brilliant central planners Ph.D’s to do engage in more of the same insanity that Einstein warned about decades ago. And incidentally this is not a joke: on Thursday the BOJ is expected to ease yet again. As a reminder, the BOJ already buys ETFs, Corporate Bonds, and REITs. What’s left: gold?

Instant View via Reuters:

HIROSHI SHIRAISHI, ECONOMIST, BNP PARIBAS

“The numbers are weak. Although the BOJ tankan indicated stronger (capital spending), uncertainty about the outlook for the overseas economy is making Japanese companies cautious. “Things won’t be as strong as the tankan suggested. We didn’t think capital spending would be that strong, because we can’t expect much growth in overseas economies. “The pace of capital spending is gradually becoming weaker. “We believe that BOJ will loosen monetary policy (at Thursday’s meeting).”

YASUO YAMAMOTO, SENIOR ECONOMIST, MIZUHO RESEARCH INSTITUTE IN TOKYO

“Looking at the May figure alone you may say that machinery orders were weak, but given that the data is volatile you cannot say capital spending is losing momentum. “Corporate capital spending remains in a moderate uptrend as the Bank of Japan’s June tankan confirmed, although the pace is tepid and levels are below those seen before the Lehman crisis. “Public spending and personal consumption are driving the Japanese economy but economic growth is likely to slow after the summer partly as government subsidies for low-emission cars run out of money. You cannot expect much from exports given uncertainty over Europe and the global economy. “The BOJ is likely to sit tight…
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Shhh… Don’t Tell Anyone; Central Banks Manipulate Rates

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

David Zervos, Jefferies: Shhh… Don’t Tell Anyone; Central Banks Manipulate Rates

It should come as no surprise to anyone that major commercial banks manipulate Libor submissions for their own benefit. The OTC derivatives markets was designed by the big banks, for the big banks, to ensure that as they set up their own private securities exchanges – away from regulatory scrutiny – they could control the interest rate settings. Money center commercial banks did not want the “truth” of market prices to determine their loan rates. Rather, they wanted an oligopolistically controlled subjective survey rate to be the basis for their lending businesses.

To that end, if there was a big reset for a specific bank on a given trading day, and a lower rate suited, said bank would surely shade its Libor submission lower. And then of course there were the far more unscrupulous submitters who tried to influence where other banks might post rates on a given day (for a bottle of Bolly or for a quid pro quo at a future date). When there are only 16 players – a “gentlemen’s agreement” is relatively easy to formulate. That is the way business has been transacted in the broader OTC lending markets for nearly 30 years. It is impressive that it took this long for the regulators to actually realize what a complete shame the entire structure really is.

In a way, the evolution of a corrupted Libor market is par for the course when it comes to the commercial bank tear down of the Glass-Steagall act. The biggest banks in the US and Europe spent decades trying regain control of the securities markets. In the US, Gramm-Leach-Bliley was the final nail in the Glass-Steagall coffin after the tireless work of folks like Sandy Weill and Hugh McCall (and their public sector lackeys Bob Rubin, Larry Summers and Alan Greenspan). One of the best analyses of the post Glass-Steagall world was done by Luigi Zingales at the University of Chicago. His recent FT article is attached below – and it is a MUST read. From the perspective of the evolution of the OTC derivative market, and Libor misrepresentations, this paragraph from Luigi says it all –

“The third reason why I came to support Glass-Steagall


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The Horror… The Horror: European July, August Sovereign Bond Issuance Calendar

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Well at least Spanish 10 Year bonds aren’t above 7% and Italy is safely below 6%. Wait… what’s that? Oh… uh uh… uh uh… Oh… Really… Oh ok…

Scratch that.

As a reminder 7% is and has always been a very magic number for Europe:

Full forward bond issuance:

July

  • 10 July: Greece auction. Bills.
  • 12 July: Italy auction. Bills.
  • 13 July: Italy auction. Bonds.
  • 17 July: Spain auction. Bills.
  • 17 July: Greece auction. Bills.
  • 19 July: Spain auction. Bonds.
  • 24 July: Spain auction. Bills.
  • 26 July: Italy auction. Bonds.
  • 27 July: Italy auction. Bills.
  • 30 July: Italy auction. Bonds.

Other events:

  • 20 July: Eurogroup meeting (tentative). According to Reuters, the MoU on Spanish bank recap has been delayed to allow more time for negotiations and a new Eurogroup meeting has been pencilled in for 20 July. The MoU is due to specify the terms of the European loans – duration and interest rates. Again according to Reuters the first tranche of the loan will be sent to Spain’s bank restructuring fund  (FROB) on time for the
    state rescued banks.

 

August:

  • 2 August: Spain auction. Bonds
  • 13 August: Italy auction. Bills
  • 14 August: Italy auction. Bonds
  • 16 August: Spain auction. Bonds
  • 21 August: Spain auction. Bills
  • 28 August: Spain auction. Bills
  • 28 August: Italy auction. Bonds
  • 29 August: Italy auction. Bills
  • 30 August: Italy auction. Bonds

Other events:

20 August: ESM to become operational (Tentative). The following euro-area countries have not ratified the ESM yet: Estonia, Italy and Germany. We think they will all do by the first week of August. Then the first installment of the capital has to be paid by each ESM member within 15 days of the ESM treaty entering into force. Hence, the ESM will not be in a position to lend money until the last 10 days of August.

Source: Deutsche Bank





China Shuns US And Invests Direct In Iran Oil-Fields

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Between Clinton’s ‘prices to be paid’ and Obama’s new trade-war, is it any wonder the Chinese have decided to escalate their ‘more-than-rhetoric’ from bartering away from the USD. After ignoring the sanctions and then receiving their exemption, PressTV reports tonight that China is to invest in developing north and south Iranian oil fields (which will produce 700,000 barrels per day of crude). One of the oil fields, Azadegan, has one of the world’s largest oil deposits, with in-place oil reserves estimated at 42 billion barrels – enough to tide China over a for a while – as Iran’s Oil Minister Rostam Qasemi adds after 10-15 years of negotiations the decision has finally (and coincidentally very timely) been reached as “the Chinese side has started its activities by investing USD 20 billion in the oil fields”.

 

Via PressTV:

Iran’s Oil Minister Rostam Qasemi says China has agreed to invest USD20 billion in developing north and south Azadegan and Yadavaran oil fields which will finally produce 700,000 barrels per day (bpd) of crude oil.

 

Speaking to reporters in a visit to the Petropars Company on Sunday, the oil minister said the agreement for developing Azadegan and Yadavaran oil fields has been reached after 10-15 years of negotiations with the Chinese side.

 

He added that the Chinese side has started its activities by investing USD20 billion dollars in the oil fields.

 

“So far more than 20 drilling rigs have been installed in Azadegan and Yadavaran oil fields and plans have been made for the daily production of 700,000 bpd of crude oil [when development of both fields is complete],” Qasemi stated.

 

The minister said contracts have been signed for the development of 12 new oil fields in the past few months, adding, “Development of some fields, including Azar and Changouleh oil fields has also begun.”

 

Qasemi said necessary measures have been taken for the development of Darkhoein and Mansouri onshore oil fields as well as offshore fields such as Farzad A.

 

Yadavaran oil field is located in the southwestern Khuzestan Province bordering Iraq. The development project of the oil field is expected to be implemented in three phases. Upon the completion of all phases, some 300,000 barrels of oil


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Excellent Anti-Union News From Multiple Places Including US Supreme Court

Courtesy of Mish.

At long last unions are on the run and losing battles in multiple places at once. Let’s take a look at some dates and headlines.

June 7, 2012 LA Times: 2 big cities OK cuts to worker pension costs

Landslide victories on ballot measures to cut pension costs in two major California cities emboldened reform advocates, who said they expect a flurry of copycat initiatives and increased support for Gov. Jerry Brown’s long-stalled push to curb the state’s obligations to its employees.

In San Jose, nearly 70% of voters Tuesday approved a plan that gives workers the choice between increasing their pension contribution to 13% of their pay, currently 5% to 11%, or switching to a lower-cost plan with reduced benefits. It also steeply cuts benefits for new hires and tightens rules for disability retirements.

In San Diego, where pension cuts already have been implemented, voters opted to eliminate pensions for new workers. By a 66% to 34% margin, voters Tuesday endorsed Proposition B, which provides newly hired city employees with a 401(k) program, but preserves traditional pensions for new police officers.

The San Diego measure also calls for a five-year freeze on “pensionable” pay levels and removes elected leaders’ ability to improve retirement packages without a popular vote. Leaders in both cities say voters were echoing a point that reform advocates have made for years.

June 7, 2012 Washington Times: Labor unions feel pain of pension reform votes in San Diego, San Jose

“San Diego’s victory isn’t just a win for San Diego taxpayers. It marks the beginning of the pension reform movement for our country,” declared Lani Lutar, president and CEO of the San Diego County Taxpayers Association. “Tuesday the voters sent a very clear message to elected officials: Put the taxpayers first. Use our money prudently, and stop giving away benefits we can’t afford.”

Pension reform advocates call it a crushing defeat, a rising trend, and just the beginning. According to the California Foundation for Fiscal Responsibility, with the victories on Tuesday 18 of 20 pension reform measures have now passed in California since 2010. They have won with an average of two-thirds of the vote, even in more liberal cities like San Francisco.

July 6, 2012 Mercury News: State will


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Roubini On 2013′s “Global Perfect Storm” And Greedy Bankers “Hanging In The Streets”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

In an extended interview with Bloomberg TV, Nouriel Roubini lives up to his doom-saying reputation and goes where few have as he opines on Lieborgate that: “bankers are greedy and have been for 1000 years” and “nothing is going to change” unless there are criminal sanctions; to which he follows up – briefly silencing the interviewer, “If some people end up in jail, maybe that will teach a lesson to somebody – or somebody will hang in the streets. The professor goes on to note that the EU “summit was a failure” since markets were expecting much more and warns that without full debt mutualization, debt monetization by the ECB, or a quadrupling of the EFSF/ESM ‘bazooka’; Italian and Spanish spreads will continue to blow out day after day – leading to a crisis “not in six months but in two weeks”. The only entity capable of stopping this is the ECB which needs to do outright unsterilized monetization in unlimited amounts which is ‘politically incorrect’ to talk about and claimed to be constitutionally illegal. 2013 will be a very difficult year to find shelter as policy-makers ability to kick-the-can runs out of steam as he sees the possibility of a ‘Global Perfect Storm’ of a euro-zone collapse, a US double-dip, a China & EM hard-landing, and a war in the Middle East. Dr. Doom is back.

Must watch 9 minutes of reality:

On Lieborgate:

Nothing has changed since the financial crisis. The incentives of the banks is to cheat – doing things that are either illegal or immoral. The only way to avoid that is to break up these financial supermarkets. There are no chinese walls and massive conflicts of interest.

On Greed:

Bankers are greedy – they have been for 1000 years.

On Sanctions:

There should be criminal sanctions. Noone has gone to jail since the global financial crisis. The banks do things that are illegal and at best they get a slapped with a fine. If some people end up in jail, maybe that will teach a lesson to somebody – or somebody will hang in the streets.

On TBTF banks:
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Zero Hedge

Don't Panic! "Experts" Agree - This Is Not 2008

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Pater Tenebrarum via Acting-Man.com,

Experts Agree: It Is Not 2008

If someone were to ask us what year it was, we would probably politely answer that it was 2016, curious to find out whether the inquirer was a) very confused, b) had only recently awoken from a coma and was still unsure of his when-abouts, or c) was a time traveler who got temporarily lost.

In the unlikely case that we should find ourselves unable to remember the year with sufficient precision to ensure a reliable answer, we’d probably consult a calendar. We recently found out that a great many people actually seem to be uncertain about what year it is....



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Phil's Favorites

Should You Be 100% Long Stocks?

 

Should You Be 100% Long Stocks?

Courtesy of Joshua Brown

The New York Times is out with an investing column that posits the following: You should be 100% stocks in your portfolio because, given enough time, they should outperform everything else you can possibly own in an investment account.

And here is the data that “proves” it – as long as you’re willing to bet that the future will look precisely like the past:

I’m troubled by this idea, although I do agree that there are select cases where this could make sense. The author is David A. Levine, a former chief economist at Sanford C. Bernstein & Company. And, to his credit, he does pay lip service to the...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Global trade is worse than it was during the financial crisis (Business Insider)

"It is worse than in 2008. The oil price is as low as its lowest point in 2008-09 and has stayed there for a long time and doesn't look like going up soon. Freight rates are lower. The external conditions are much worse."

Bond Investors Looking Out for Stimulus Hint in Draghi Testimony (Bloomberg)

Investors will look next week for a whiff of confirmation from Mario Draghi that they weren’t wrong to push bond yields to record...



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Chart School

Power of Mean Reversion

Courtesy of Read the Ticker.

The power of reverting to the mean. Life time buys, or miserable bust! The rubber band does smack back eventually!

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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

.."There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks h...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Kimble Charting Solutions

Big test for those that have been wrong, says Joe Friday

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

In May of last year, the S&P hit a key level and stopped on a dime. We applied Fibonacci tools to the highs in 2007 and the lows in 2009, to the chart above. The 161% Fibonacci extension level came into play in the 2,150 zone last year and when hit at (1), the markets stopped on a dime.

If your tools or adviser has suggested to be long and strong since May of 2015, that advice has been costly.

Our take, “Free advice that is wrong, is expensive!!!”

Below looks at stock i...



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OpTrader

Swing trading portfolio - week of February 8th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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ValueWalk

Why Most Investors Fail in the Stock Market

 

Why Most Investors Fail in the Stock Market

Courtesy of ValueWalk, by  

Throughout the past 30 days of wild volatility, here’s what I didn’t do.

Panic. Worry. Sell.

In fact, the best I did was add to a couple of positions yesterday. The world was already in an uncertain state for the past 3+ years. It’s just that with the market rising, we pushed the issue to the back of our  mind and ignored it.

If you read Howard Marks latest memo, ...



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Digital Currencies

2016 Theme #3: The Rise Of Independent (Non-State) Crypto-Currencies

Courtesy of Charles Hugh-Smith at Of Two Minds

A number of systemic, structural forces are intersecting in 2016. One is the rise of non-state, non-central-bank-issued crypto-currencies.

We all know money is created and distributed by governments and central banks. The reason is simple: control the money and you control everything.

The invention of the blockchain and crypto-currencies such as Bitcoin have opened the door to non-state, non-central-bank currencies--money that is global and independent of any state or central bank, or indeed, any bank, as crypto-currencies are structurally peer-to-peer, meaning they don't require a bank to function: people can exchange crypto-currencies to pay for goods and services without a bank acting as a clearinghouse for all these transactions.

This doesn't just open t...



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Sabrient

Sector Detector: New Year brings new hope after bulls lose traction to close 2015

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Chart via Finviz

Courtesy of Sabrient Systems and Gradient Analytics

Last year, the S&P 500 large caps closed 2015 essentially flat on a total return basis, while the NASDAQ 100 showed a little better performance at +8.3% and the Russell 2000 small caps fell -5.9%. Overall, stocks disappointed even in the face of modest expectations, especially the small caps as market leadership was mostly limited to a handful of large and mega-cap darlings.

Notably, the full year chart for the S&P 500 looks very much like 2011. It got off to a good start, drifted sideways for...



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Promotions

PSW is more than just stock talk!

 

We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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Pharmboy

Baxter's Spinoff

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).

The Baxalta Spinoff

By Ilene with Trevor of Lowenthal Capital Partners and Paul Price

In its recent filing with the SEC, Baxter provides:

“This information statement is being ...



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Mapping The Market

An update on oil proxies

Courtesy of Jean-Luc Saillard

Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself. 

Since...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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