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TGIF – Gold Flies Higher as Kushner Goes “Under Scrutiny” in Russia Probe

Image result for trump russia tiesThis is gettting interesting, isn't it?  

Jared Kushner, Trump's son-in-law, is now a "person of interest" in the FBI investigation into the Trump Administration's Russia ties.  That doesn't mean he's guilty but it does mean the investigation has moved closer to the President – to the guy married to his daughter, in fact.   The records of records of both Manafort and Flynn have been demanded by grand jury subpoenas, NBC News has reported.  

Kushner has already admited to meeting with Sergey Gorkov, who is the Chairman of VneshEconomBank, a Russian government-owned institution that has been under U.S. sanctions since July 2014.  Gorkov studied at the training school for the FSB, one of Russia's intelligence services.  To be fair to Kushner, you can't be part of Trump's Team and NOT have met with Russians – they are EVERYWHERE!  

Meanwhile, why are you here?  It's the Friday before a 3-day weekend, we didn't become investors so we could work every day, did we?  Go have some fun – I'm already on vacation, writing from my hotel room like a sensible fellow.  

Yesterday's big story was the collapse of oil after the OPEC meeting.  Despite extending the existing production cuts for 9 more month, the cartel failed to increase them and, since the current cuts have barely been effective and since the US production is already filling the gap and putting us back in a glut – a lot of oil longs finally gave up hope and bailed out, leading to a whopping 5% Rule™ correction on the day.

We're long here ($48.50) on the Oil Futures (/CL) as well as the Oil ETF (USO) at $10 as we are only just starting summer driving season and the July 4th holiday gives us another opportunity to see some gains in the coming month.  We may fall another $1 first, to $47.50 because Brent Crude (/BZ) is still at $51 and $50 is better support for them and $47.50 is better support for us but I would hate to miss the rally, so I'd rather get started now.  Gasoline (/RB) is also a good buy at $1.60.

In our Options Opportunity Portfolio, we alreay have 40 USO July $9 calls we bought for $1.48 ($5,920) back on 11/15 and now they are $1.20 ($4,800), so down a bit but we still like them as a new trade.  

After Trump spoke at NATO yesterday, European markets are off 1% this morning and that should be a drag on our own Futures.  Our markets have been stubbornly bullish this week with the S&P (/ES), so far, holding on to 2,400 and the Dow (/YM) over 21,000 with the Nasdaq (/NQ) at 5,775 though the Russell (/TF) is weak at 1,377, making up (so far) for our loss on the S&P shorts

The volume on the way up has been anemic, with just 200M shares traded on the S&P ETF (SPY) in the last 4 days as it rose while the down volume just last Wednesday was 172M – that means we can easily resume our sell-off at a moment's notice.  We're expecting a flatline today – despite Europe's woes, as there are nothing but junior traders manning the desks today since anyone with any authority has already helicoptered to the Hamptons by now (the house opening parties start Wednesday and run through Monday night).

We taked about liking the Dollar (/DX) long at 97 yesterday and UUP was $25.08 and we did hold the line(ish) but still a chance to get on board with our trade idea into the weekend and before the G7 pronouncements.   The Fed meets again on June 14th and another rate hike will send the Dollar flying back to 100, espeicially with Draghi (ECB), Carney (BOE) and Kuroda (BOJ) still on hold. 

On Tuesday I'll be over at the Nasdaq for a live broadcast and they want to discuss, of all things, hedging strategies!  You know things are scary when the Nasdaq wants to have someone tell their viewers what to hedge with…  Of course we love our SQQQs but I'm not going to talk about it now (we already have them in our OOP and STP) – you'll have to tune in on Tuesday morning.

We had fun shorting the VIX Short ETF (SVXY) a few weeks ago as it fell from $160 to $130 and now it's back to $151 so we can play it again.  July $150 puts are $11.70 and you can buy 10 of those for $11,700 and sell 10 of the July $140 puts for $8.50 ($8,500) and also sell 5 JUNE $160 calls for $3 ($1,500) for net $1,700 on the $10,000 spread and, once the short June calls expire, you can pick up another $1,500 selling July calls to make it a free spread.

See, there's plenty of things we can trade, no matter how toppy the market gets.  We even have a new trade idea for the LTP in our Live Member Chat Room this morning

Have a great weekend,

- Phil

 


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  1. Back to having to add more lines!


  2. Jared is going to wish he never got involved soon – the problem with these investigations as Clinton found out in the 90's is that they can branch into all kinds of directions. The FBI guys will look under many stones and may end up finding stuff that has not connection whatsoever with the original problem but might keep digging if it looks suspicious!


  3. Good morning!

    Nice view of the future from my room.  


  4. StJeanLuc  I would hold off on the lines for another week. Trump heading back to the mainland and he is sure to shoot off, resulting in volatility and downside risk. 


  5. Jo and dollar getting a bid.


  6. QCOM

    ~~Qualcomm Now Shipping More Than 1 Million IoT Chips Each Day.
    The main focus of Qualcomm’s latest announcement is that the company now has its technology in approximately 1.5 billion IoT devices around the world, and is putting out just over one million of its related chipsets every day.

     

    Qualcomm target raised to $65 at Stifel  (58.45)

    Stifel raises their QCOM tgt to $65 from $56. Based on recent industry reports, firm believes QCOM's application processors are continuing to gain smartphone market share. They also believe that with the launch of Samsung's Galaxy S8, the market share gains can accelerate.


  7. Good Morning.


  8. Good Morning – I'm headed to NAPA for the long weekend….. 


  9. Phil / TLRD – They purchased JOS A for 1.6 B – who I used to own Shen they were stand alone, and are very good operators….   I'm not worried about raising div – I'm worried about the impact of them cutting the dividend,  In the last earnings calls they made a statement that they are paying a dividend now….   So what happens if they cut, and if they cut do they eliminate, or take a 50 to 70 % off kind of think to get it to 3 or 4 %?


  10. Enjoy batman!  Which wineries are you planning to visit?


  11. Phil / TLRD – From Con call regarding capital allocation:

    Doug Ewert

    Yes, I mean, we’re really assuming that I would say our capital allocation strategy for 2017 hasn’t changed. So we’re going to be continuing to invest in the business where we felt like we can get a good return and that’s reflected in our CapEx guidance. Right now we plan to maintain the dividend. And then the remaining free cash flow we use to pay-down debt. So, no change in that strategy.


  12. From the previous post (always read our early chat!):

    TLRD/Batman – I think you have to assume their interest on debt climbs at least 2% by next year to be safe and that's a big hit on profits and certainly takes a dividend hike off the table.  Nonetheless, they are priced for BK at $500M, which is half what they acquired Jos A Bank for and they also own Men's Warehouse (see guys, you actually have no choice) and the Tuxedo Shop (who just lost their Macy's contract).  $3.4Bn in sales should eventually translate into $150M in profits but they lost 0.19/share last Q.  Short story is I would not count on the dividend at all but they are very interesting down here with earnings on 6/7.

    Much as I hate to add to Jabob's FU list – this is a fun one and you can sell the 2019 $10 puts for $3.20 to net in for $6.80 so there's no harm in selling 10 of those for $3,200 in the LTP to remind us to keep an eye on them.  If earnings go well, we can add a bull call spread.

    TLRD/Batman – I'm saying you can expect them to kill the dividend entirely – that way you won't be disappointed.   Expect many FU's from Jabob and look to add more on the way down if that happens as impatient investors don't understand the concept of redirecting cash flow to pay off long-term debt, which has long-term benefits that far outlive the average investors attention span.  Actually, all but a very few exceptional investors' attention spans these days.

    Most investors these days want to know why they missed BitCoin at $100 or AMZN at $50 and now they will chase whatever looks like that – it's just lazy, impatient investing that usually leads to disaster while they leave the real value stocks wide open to long-term investors who understand the nature of business cycles and are willing to ride them out.

    Image result for business cycle

    Image result for business cycle

    Image result for business cycle


  13. Learner  - Thanks – Mu wife maid all the arrangements I don't really know – probably Gloria Ferrer but not sure what others…. Also have some VIP Tkts to Bottle Rock so we'll catch a few shows there.


  14. Phil

    Good morning!

    Just visiting for a few minutes.

    Hope you are having fun…wherever you are!

    Our GME is down today and overall, down 20% from where we bought.

    Market surely 'knows' something we are missing here at PSW?


  15. Yodi/Croatia/NFLX

    How safe is it there? Your first visit?

    Can you recommend a couple of good hotels in center of town? 

    Wondering about your NFLX…another thought is to recoup by buying/selling another stock? And phase out of your positions in this MOMO that way?


  16. Phil-- the best way to avoid the FUs is by looking for long stocks that don't drop 25-75% within months or shorts that don't stop hitting new highs.

    You are a great teacher, analyst, and writer. I am sure you will break out of your slump soon (we hope) ;-)

    Sorry for all the FUs…

    I appreciate all that you do…thank you


  17. Bottle Rock/Batman – Excellent – have fun, I love those things!  

    GME/Maya – They just popped off a much better than expected Q so I think we know something the market doesn't.  Dividend is safe ($1.52 – 6.3%) and I think VR will kick off a super-cycle for them next year.

    NFLX is another thing entirely but, as I noted in the reviews, it's easy to do a roll forward and $160 is silly, currently driven by irrational upgrades and House of Cards mania.  House of Cards will not add many subscribers – it's been out too long so the excitement will fade along with the stock price into next earnings (mid July).  


  18. TSLA sold out of their solar roof tiles till 2018.  They can sell them, just can't produce them.


  19. It's interesting because there was just a study showing like 65% of the people don't believe in the media anymore and generally don't believe in science of "facts" and I think there's a similar thing in the markets, where traders don't believe in market forces or statistics and just buy what they feel like.  This is that whole GWB thing of "trusting your gut" not those silly facts.  We all know how that turned out…


  20. TSLA/Rustle – It doesn't say how many – just sold out.  That guy is a master at manipulating public opinion.  Doesn't say they made a profit selling them either.  Ridiculous!  

    According to a previous estimate by Consumer Reports the installed cost of a textured glass tile solar roof from Tesla was $73,500 on a 3,000-square-foot surface. (Tesla's estimated price is for its Tuscan tiles). For context, the average cost of installing solar panels on roofs in a standard U.S. home (approximately 2,700 square feet in area) was between $25,000 and $35,000 last year. (See also: SunPower CEO Skeptical About Tesla's Solar Roof.)


  21. Maya1

    Croatia, I arrived via ferry from Italy to Split. Safe I would say it is saver than most places in the US.

    Town is over-run by Japanizes or Chinese I cannot see the difference. I cannot say anything about Hotels as I am an RV man. Camp-places are clean and well looked after. The roads are much better than in Italy. Autobahn so far excellent. Prices are much more reasonable than other parts of Europe. Even Diesel at 1.10/ Ltr. € against Italy 1.40€. Country side just starting to explore, but looking good. Hard to understand the language but most speak English or German. I have noticed an enormous amount of windmills all over the mountain tops, very impressive. Regret they have their own currency KUNA, 7.5/1€. But all in all great, so far.

    NFLX I think we are on the wrong side of that one and possible will cut my losses. Still waiting for Trump to get fired so the soap bubble will burst.


  22. Deck hitting the roof up 18% and this one I am on the right side!!! FU to NFLX


  23. FU FTR!!!!


  24. GBP/Phil – pound to a hit this morning.. seen anything why? Seems a bit late if the Manchester business. 


  25. Yodi/Croatia

    Thanks for the input.

    Much appreciated.


  26. Phil / dividends question:

    I´m arguing with my broker  because reading when narrate your trades you explain that when trade a option position, (lets say GME  or SUN which has good dividends (with yields of 7% or 10%) you own too the rights over the option contracts….they say it´s not so.


  27. FU TSLA!!!!


  28. FU Jabob – If you go to the strategy section and read the article about Scaling Into Positions, you will see that we WANT to see the stock go lower so we can buy the 2nd and 3rd rounds for LOWER prices than our initial, PLANNED 25% allocation entry.  The ones that go straight up are disappointing from an LTP point of view as we're looking to establish large, long-term positions.  That's why we have over 50 positions now, not because we want to but because we keep buying 1x positions that go up and we never get a chance to build on it.

    Pound/Scott – Up from $122 to $130 is 5% with a 20% overshoot.  5% over $122 is 128.1 so look for that to hold and you have bullish consolidation.  

    Dollar down from 103 (Dec) to 97 is 5% with a 1% overshoot and 95% of 103 is 97.85 so look to see if we fail that for signs of continued weakness.  

    Euro 104 (Dec) to 112 was a huge move (7.6%) and 104 x 1.05 = 109.2, which is where we took off from on this leg so, even if it's tested, it's likely to stay over that line.  

    So room for the Euro to drop 2.5% without violating it's uptrend and that puts the Dollar back at 100.

    Dividends/Advill – No you do not get the dividends when you own an option contract.  I can't imagine I ever would have said that.  You must own the underlying on ex-dividend day to get the dividend.  

    TSLA – Very annoying!

    /KC poppin' – My weekend is paid for!  

    See, this is how I justify getting a better hotel in Europe.  I figure if I have a nice room and a comfortable place to work, I can make up that money trading!  If not, I'm sure Yodi has a spare couch in the trailer.  cheeky


  29. NIce pop on IMAX today


  30. Trump w Netanyahu – I think he just doesn't like politicians…

    https://twitter.com/GissiSim/status/867987078038011904


  31. Wow, Scott – someone needs medical attention! 


  32. Trump/Scott, Stjean

    That was as weird and creepy as when he was wandering during the debates with Hillary.


  33. tsla nearing an all-time high…dangit! wtf???


  34. Hi Phil, would you recommend a new position on GME?  I am definitely early on in learning your ways, but I see that I can sell the Oct $20 puts for around $1.25, so I would net in around 15% lower than it's trading today if I sold those.  I really don't want to own more than about $4,000-$5000 total after all buying rounds (if it continues lower).  Thanks.


  35. LUV – dang, last couple days in process of rolling ITM short calls (covering stock) and half of them assigned last night.  Must be the top…


  36. Gene Munster sees huge growth potential for Tesla

    May 26, 2017 11:59 AM ET|About: Tesla Motors (TSLA)|By: Clark Schultz, SA News Editor 

    Gene Munster tells the CNBC Squawk on the Street crew that Tesla (TSLA+1.6%) will grab market cap from energy companies as it progresses on its misunderstood mission of accelerating the global shift to renewable energy.

    The Loup Ventures managing partner expects a bumpy ride for Tesla investors, but thinks the markets will give Elon Musk the leverage to build out at scale.

    Munster is best known for calling out the explosive potential on Apple very early when he worked at Piper Jaffray.


  37. IRBT – just looking over their run in just the last year. WOW!


  38. IMAX/Rustle – Exactly like I was saying to Jabob before – we WANT stocks to go lower so we can take bigger positions.  That was our plan from day one.  It would have been annoying if all we ever had was a short put that made money.

    Submitted on 2017/05/24 at 11:51 am

    In the OOP, back on 4/28, our plan for IMAX was:

    We like IMAX because they drop off when the box office slows, which has nothing at all to do with the company, which is adding more and more screens every day. It was one of our original OOP stock picks but then we got called away and I was very upset in Oct that I missed $28 and then failed to buy at $30 so now I don't want to be greedy.

    • In the OOP, let's sell 5 IMAX Dec $29 puts for $2 ($1,000) and see how they go before adding a bull call spread.
    • In the LTP, let's sell 15 IMAX Dec $29 puts for $2 ($3,000) and see how they go before adding a bull call spread.

    In both cases, they are amounts we would be happy to double down if we get a better price (ie. IMAX goes lower).

    Well, IMAX did go lower and I do still like them because Q2 will have revenues from Fate of the Furious (4th biggest IMAX opening ever), Guardians of the Galaxy, which has only this week finally been succeeded by Aleins, which is another hit and next comes Pirates, Transformers and Wonder Woman – both likely hits as well.  On top of that, IMAX is adding a VR segment that gives them additional growth opportunities.  Analysts are expecting $105M for Q2 revenues but Furious alone was good for about $30M and $105M is 15% more than last year – even if that's all they do.  

    So, in short, it's time to execute a larger play:

    OOP:

    • Sell 5 (more) IMAX Dec $29 puts for $4.30 ($2,150)
    • Buy 10 IMAX Dec $23 calls for $4 ($4,000) 
    • Sell 10 IMAX Dec $28 calls for $1.40 ($1,400)

    That's net $450 on the new $5,000 spread with $4,550 (1,011%) upside potential.  Our worst case is owning 1,000 shares of IMAX (including our original 5 short puts) for net $27.10.

    LTP:

    • Sell 10 (more) IMAX Dec $29 puts for $4.30 ($4,300)
    • Buy 20 IMAX Dec $23 calls for $4 ($8,000) 
    • Sell 20 IMAX Dec $28 calls for $1.40 ($2,800)

    That's net $900 on the $10,000 spread with $9,100 (1,011%) upside potential.  Our worst case is owning 1,000 shares of IMAX (including our original 5 short puts) for net $27.10.

    We will also pick IMAX as a straight stock pick ($25.50) for TradeExchange.  

    Trump/Scott – He doesn't like anyone who isn't kissing his ass.

    TSLA/Jabob – They sold out of solar roofs (all 6).

    GME/MMMMax – Yes, surprisingly weak reaction to a strong earnings report.  They thing it was a one-time thing but GME is one of the only stores my daughters go to every time and GameStop gift cards are very popular party gifts and BBY's strength came from gaming….  Given that your budget is owning 250 shares, you have to start carefully but is there really a point to allocating a block of your portfolio to make $125.  

    If you are thinking of selling 3 contracts for $375, your net entry would be 300 x $20 ($6,000) less $375 = $5,625 or net $18.75/share.  Why not, instead, just sell 1 2019 $20 put for $4 ($400) and then pick up 2 2019 $20 ($4.10)/$27 ($1.75) bull call spreads for $2.35 ($570) so you are in for net $170 and the worst case is you get assigned 100 for net $2,170 ($20.17/share) and even if GME falls to $10, you can still double down and net 200 for $15 avg ($3,000) and you'd still have plenty of cash on the side BUT your upside potential if they simply hold $20 (10% lower) is now $1,230, 4x what you get even if you commit to 3 short puts.

    That way,  you are not wasting your $5,000 allocation.  Even if unused (the way Jabob likes it), you will get back a 25% return on the block.

    Took the money and ran on /KC at $132, just under $4,000 gained on 4 contracts (trading closes in an hour and why risk it over the weekend?)   Congrats to all who played along at home!  

    2 /CL up $1,500 already too.

    2 /RB up $1,500 – what a day!  Even the Dollar is moving up (2 long there too).

    LUV/Scott – Crazy move there too.  Ryanair (RYAAY) is coming to the US, that's not good for any airline.

    Traffic soars at Ryanair Holdings

    This airline wants $0 fares someday

    Ryanair load factor hits 95%

    Ryanair's Low Cost Flywheel

    737 Max jet for budget airlines

    IRBT/Scott — I should have had more faith when they dumped the military unit.  Was our Stock of the Century.


  39. FRO – well .. this stock has gone lower. do I want more?


  40. FRO/Scott – Those shippers scare me.

    Submitted on 2015/09/01 at 11:39 am

    FRO/Scott – There were lots of "bargains" in July of 2008 and Oct 2008 but we didn't bottom until March 2009.  I'd rather miss a snap back and find something else to buy than chew up buying power by bargain-hunting too early.  

    So now they are getting attractive but you have to assume they'll cut the dividend so $6 is very possible, maybe $5 but that's fine as you can sell the 2018 $5 puts for $2.25 to net in at $2.75 and you can leave it at that or pick up the $8 ($1.60)/15 (0.70) bull call spread for 0.90 and you still have a net $1.35 credit on the $7 spread with net $3.65 as your worst-case entry.  

    Submitted on 2016/09/27 at 2:06 pm

    FRO/Scott – If they ever decommission some old tankers, then it will be a better time to get in.  At the moment, business is really bad for the tanker cos.

    Submitted on 2016/09/27 at 4:56 pm

    FRO/Mkucs – They did borrow $114M last year and they burned $135M last Q and cash is down from $236M in Q4 to $129 as of 6/30 so it's possible they have no cash at the moment and they'll have to borrow more to pay the dividend. Since the company is only worth $1.1Bn at $7, they are effectively diluting you 3% every time they make a dividend payment so 12% a year more in debt to pay dividends – not ideal to me. 

    Submitted on 2016/10/16 at 11:00 am

    FRO/Mkucs – Not at all the same as FTR.  Shipping is in big trouble, you have to be very careful with them.  EVA is an interesting little company, not cheap anymore


  41. IMAX- the numbers on your suggested trades are either from a couple of days ago or you are looking for a retrace to enter? 


  42. That new French president was really, really prepared for the Trump handshake – and throwing shade like a pro at the same time. He won the first battle in the morning and the second one was even more epic:

    http://mashable.com/2017/05/26/macron-swerves-trumps-handshake/#Ing0NofUwaqF


  43. Researchers from UC Santa Barbara and Georgia Tech have discovered a fresh class of Android attacks, called Cloak and Dagger, that can operate secretly on a phone, allowing hackers to log keystrokes, install software and otherwise control a device without alerting its owner. Cloak and Dagger …


  44. <b>Police have arrested a man in the Moss Side area of Manchester in connection with Monday’s attack at the city’s Arena venue that killed 22 people.</b><p>He is one of eight men now in custody as part of the investigation, Greater Manchester Police have said.<p>Police believe Manchester-born suicide bomber …


  45. Children among dead and at least 22 wounded in gun attack on convoy headed to monastery in Minya province<p>At least 26people, including children, have been killed and 25wounded in a gun attack on a bus carrying Coptic Christians south of Cairo, the latest in a series of terrorist incidents targeting …


  46. These markets have the highest percentage of homes flipped.<p>1. Baltimore, MD. Return on Investment: 96.6%, Average Days to Flip: 196, Year-Over-Year …


  47. There are few IT skills more valued than the ability to protect a computer network from hackers and cyber thieves. Start down that lucrative career path today with the Cybersecurity Certification Mega Bundle, which can be yours for just $69 – over 90 percent off, from TNW Deals.<p>With this course, …


  48. <b>(CNN) —</b> Beneath its heavy cloud cover, Jupiter has been able to keep its secrets from astronomers. Now, first results from NASA’s Juno mission are challenging researchers’ beliefs about the gas giant.<p>The results were revealed during a media teleconference Thursday with NASA researchers and …


  49. Pictures of the Week 5.25.17


  50. NASA has fast-tracked the Psyche mission to visit a one-of-a-kind asteroid worth $10,000 quadrillion.<p>Unlike most asteroids that are either icy or rocky, 16 Psyche is composed almost entirely of metallic iron and nickel, similar to the core of the Earth. If anyone could mine that asteroid, the …


  51. U.S. Senator Ted Cruz improperly accounted for loans he received from Goldman Sachs Group Inc. and Citigroup Inc. during his 2012 campaign, saying …


  52. These serious recently developing economic conditions are <i>already</i> placing drought-like pressures on the economy, which could mean a withering <i>el-niño</i> …


  53. Morgan Stanley<p>Tesla’s market value recently surpassed Ford’s, and it was a big milestone for the smaller electric-car maker that contends with the traditional auto makers.<p>But if investors had to buy and hold shares of either one company for three years, those who Morgan Stanley asked would rather …


  54. WASHINGTON — Shortly after President Trump took office, Senator Mitch McConnell of Kentucky, the majority leader, met privately with his colleagues to discuss the Republican agenda. Repealing the Affordable Care Act was at the top, he said. But replacing it would be really hard.<p>Mr. McConnell was …


  55. Amazon just opened its first NYC brick-and-mortar store in The Shops at Columbus Circle. We went to take a look inside.<p>The store is 4,000 sq ft, carrying 3,000 different titles on the shelves. All the books are presented face-out. Each book is rated 4 stars or above on Amazon. The company also has …


  56. MOSCOW — Researchers have discovered an extensive international hacking campaign that steals documents from its targets, carefully modifies them and repackages them as disinformation aimed at undermining civil society and democratic institutions, according to a study released Thursday.<p>The …


  57. This looks like a scooter, but it’s actually the BMW Motorrad Concept Link, the latest in BMW’s series of exhaustingly named Motorrad concept vehicles, which imagine a not-so distant future in which we all travel around in angular, sci-fi style.<p>The Link offers an electric drive, which makes …


  58. Market watchers who thought the stock market would drop if Donald Trump were elected were burned following his win: markets rose to new highs instead.<p>…


  59. TOKYO (Reuters) – The current level of U.S. prices is noticeably lower than what it would be if the Federal Reserve had delivered on its 2-percent inflation target, St. Louis Federal Reserve President James Bullard said, calling the trend “worrisome.”<p>In slides prepared for delivery in Tokyo on …


  60. Need to pick up some supplies but can’t be bothered to walk across a parking lot for them? Amazon’s got you covered. In Seattle on Thursday, the company opened a grocery store that doesn’t require you leave your vehicle, promising customers will only have to “drive in… and drive out.”<p>The service, …


  61. In 2010, real estate investor Richard Kurtz invited Forbes for an exclusive tour of his Alpine, N.J. home. He had just listed the 30,000 square-foot mega-mansion for $68 million. It was the most expensive listing in the state and among the most expensive in America. Seven years later the only …


  62. Have you ever looked for a job? Of course you have. It’s a daunting process, and one which Google hopes to make easier than ever.<p>The Bureau of Labor Statistics show that 20-24% of Americans change jobs every year (ADP global research says it’s 27%), which means more than 41 million people are …


  63. The world’s leading theme park operator introduces a new Pixar-based show to attract visitors to Disney World’s least visited park.<p>Tomorrow is going …


  64. A federal judge ordered United Parcel Service to pay nearly $247 million in damages and penalties for “illegally shipping” large volumes of untaxed cigarettes in New York state and City, a court filing showed on Thursday.<p>UPS said it was extremely disappointed with the court’s ruling and would …


  65. Traders this morning look content to let the S&P 500 nab a weekly gain, though not everyone is happy as a three-day break draws oh-so-close.<p>The biggest driver in the stock index’s jump to a record yesterday was light, pre-holiday action that allowed smaller traders to have their way, says …


  66. Federal spending on health care and food stimulates the economy — and losing those dollars will hurt most Americans<p>Despite his populist rhetoric on the campaign trail, Donald Trump revealed with his proposal for the federal budget that he’s actually just a hyper-conservative Republican that wants …


  67. Kushner is under investigation as part of the probe of the Trump campaign and Russia.<p>On Thursday, the Washington Post reported that “[i]nvestigators …


  68. Melania Trump wore a $51,500 Dolce & Gabbana jacket to a meeting with the spouses of some of the most powerful world leaders at the annual G7 summit in Catania, Italy this week.<p>The coat, which is no longer available to pre-order online, requires a $25,750 deposit.<p>$51,500 is an astounding amount of …


  69. Minnesota senator Al Franken pokes fun at fellow senator Ted Cruz in his new autobiography “Al Franken, Giant of the Senate.”<p>”Here’s the thing you have to understand about Ted Cruz,” Franken writes in the book, a excerpt of which was published by Axios.<p>”I like Ted Cruz more than most of my other …


  70. Who sounds more presidential: President Donald Trump or a bunch of fourth graders?<p>When President Donald Trump reads from a script, conservatives and lazy journalists often say that he looks presidential. Jimmy Kimmel, on the other hand, thinks that the president sounds like a fourth grader giving a …


  71. It would have been easy for Trump to provide our allies a little reassurance. Instead, he confirmed their fears<p>If anyone had any lingering doubts about the head-spinning rapidity with which President Donald Trump’s administration has reoriented American foreign policy away from its 70 years of …


  72. Here are some common misconceptions about investing in bonds

    Intuitive isn’t a word that’s typically used to describe fixed income markets. It’s no surprise, then, that misconceptions about bond investing are common, according to a new BlackRock survey of 417 Americans with $50,000 or more in investible assets.<p>The survey, conducted from April 21 to 23, aimed …


  73. Blockchain start-up Ripple is in a precarious position for a five-year-old company.<p>The business is still in its very early days but suddenly has …


  74. This morning, the BEA revised its estimate of first-quarter GDP to 1.2% from 0.7%. The Econoday consensus estimate was 0.8%, in a range of 0.7% to …


  75. This weekend marks the beginning of summer driving season, and Americans should be packing up and hitting the road.<p>Why aren’t they?<p>Whether people are headed to Orange Beach, Ala., or Huntington Beach, Calif., they might not notice the roads are slightly less crowded than they could be. Americans …


  76. His proposal would gut federal enforcement and effectively halt many Superfund cleanups.<p>Didn’t we just go through this?<p>In early March, President Trump proposed a budget that would have scaled back the federal government’s stewardship of the environment beyond recognition. The budget traded …


  77. From Merrill Lynch:<p>[T]he data [today] pushed down 2Q GDP tracking by a tenth to <b>2.5% qoq saar</b>. The main drag was from the weak durables report, while …


  78. When will Admiral Rogers say publicly what he told his agency’s workforce?<p>President Donald Trump’s firing of FBI director James Comey continues to …


  79. Since the introduction of <i>Pong</i> in 1972, men and women everywhere have spent countless hours playing their favorite video games. At first, they …


  80. It’s bigger than Trump<p>The U.S. intelligence community has long since concluded Russia meddled in the 2016 election, and it was reported shortly after the 2016 presidential election that a GOP superPAC linked to Paul Ryan used illegally hacked material to attack Democratic House candidates. But a …


  81. Legislators want to plunder efficiency programs to close a budget gap.<p>Wesson Energy started life in the oil business 90 years ago. But a decade ago, …


  82. Elon Musk’s Boring company published new images of concept vehicles that could one day be used in its underground tunnels.<p>The electric vehicles were briefly first shown in a video Musk shared in April during a Ted Talk presentation, but in the new images, you can clearly see that these are …


  83. Donuts, you have gone too far.<p>Not long ago, we were your biggest champions. We cheered when you evolved into the scrumptious, flakey cronut, and when …


  84. Something in the air for Eurasian trading partners<p>During the worst of China’s smogs, Beijing taxi drivers can apparently drive through red lights …


  85. Trump’s second attempt at an immigration ban was struck down by another court<p>Yet another federal court ruled against President Donald Trump’s ban on travel from six majority-Muslim nations. The Fourth Circuit Court of Appeals ruled that the so-called Muslim travel ban executive order “drips with …


  86. U.S. consumer sentiment holding near post-election highs reflects an improved outlook on wages and indicates spending is poised to rebound, though a …


  87. Group of Seven leaders are preparing to sign off on a substantially pared-down statement at the close of their meeting, an indication of persisting …


  88. GOP turns gloomy over Obamacare repeal

    Senate Republicans leave for recess uncertain they can craft a plan that improves on the House bill and gets 50 votes.<p>A feeling of pessimism is settling over Senate Republicans as they head into a weeklong Memorial Day recess with deeply uncertain prospects for their push to repeal …


  89. Daily chartFox News’s once-unquestioned dominance of cable news looks increasingly tenuous<p>The conservative channel has Donald Trump, not Bill …


  90. Why it matters to you<p>This is the only ice cube maker that makes your drinks stronger instead of weaker as the cubes melt.<p>It’s one of the great …


  91. Curtain callNetflix still gets booed at Cannes<p>Its disregard for cinemas hurts France’s protection of arty films<p>print-edition iconPrint edition | …


  92. It’s no secret that the wealth gap between the top one-percent and the rest of the global population is continuing to grow.<p>A study conducted by Oxfam and released this year shows that just eight men, with a combined net worth of $426 billion, share the same amount of wealth as the poorest half of …


  93. Beyond partisan differences over economic policies, there are stark divisions on a fundamental question: What makes someone rich or poor? Most …


  94. On the eve of discovery, all three industry groups are seeking to withdraw from a historic climate lawsuit.<p>Three fossil fuel industry groups are …


  95. BERLIN (AP) — The German government wants kindergartens to inform authorities if parents fail to prove they have attended a doctors’ consultation on child vaccinations.<p>The measure is part of a government effort to improve vaccination rates in the country. These have dropped in recent years, …


  96. This week saw the two countries strengthen an alliance that was initially meant as a temporary move<p>An oil alliance between Saudi Arabia and Russia …


  97. There is little for Democrats to get behind in the details of his plan.<p>In adjusting to the next four years of a Donald Trump presidency, some …


  98. Henry Blodget discusses this week’s bitcoin rally, and how the virtual currency could just as easily go to $1 million as it could fall to $0. Blodget has been covering bitcoin for several years, and has maintained the view that ultimately, it has no intrinsic value.


  99. Trump aides say his description of Germany as being “very bad” only refers to trade<p>President Donald Trump has stirred up unnecessary controversy in his trip abroad by referring to the nation of Germany as “very bad.”<p>“The Germans are bad, very bad. See the millions of cars they sell in the U.S., …


  100. Orlando, Fla.<p>“Subtle” isn’t a word normally associated with Disney theme parks or James Cameron movies.<p>But if anything is likely to surprise visitors to Pandora—The World of Avatar, the theme-park area opening here Saturday at Disney’s Animal Kingdom park, it is the absence of loud music, bright …


  101. <b>Shortening the proposed third runway at Heathrow by 300m could save £2-3bn, it has been claimed.</b><p>The main proposal for expanding Heathrow includes a …


  102. When Nic Wehmeyer, an associate creative director from Brooklyn, visited Los Angeles recently, he was determined to check out the future of …


  103. The country’s most powerful engine of upward mobility is under assault.<p>Public colleges have an unmatched record of lofting their students into the middle class and beyond. For decades, they have enrolled teenagers and adults from modest backgrounds, people who are often the first member of their …


  104. U.S. consumers may be cutting the cord with pay TV, but that doesn’t mean they’ve stopped watching the big screen, according to new data released by Nielsen this morning. In a report detailing the viewing habits of U.S. adults, the measurement firm found that 92 percent of all viewing among U.S. …


  105. Oversold: Oil traders punish OPEC for promising too much

    VIENNA (Reuters) – As OPEC’s latest meeting wrapped up in Vienna on Thursday night, ministers congratulated each other on its rare spirit of amity and consensus. The talks were, without a doubt, a success.<p>But two hours later, one veteran delegate was staring in despair at the numbers flashing red …


  106. Food and Drug Administration commissioner Dr. Scott Gottlieb has a plan to tackle high drug prices.<p>”Simply put, too many patients are priced out of the medicines they need,” Gottlieb said Thursday at the FDA’s budget hearing.<p>The FDA is responsible for regulating food and drugs. It’s also …


  107. Thousands of photovoltaic panels across the UK generate 8.7GW, smashing previous high of 8.48GW earlier this month<p>Solar power has broken new records in the UK by providing nearly a quarter of the country’s electricity needs, thanks to sunny skies and relatively low summer demand.<p>National Grid said …


  108. Sheriff Clarke allegedly ordered his men to detain and interview a passenger who asked his identity on a flight<p>An incident on an airplane in which Milwaukee County Sheriff David Clarke had a passenger detained and interviewed after the flight without having committed a crime has raised further …


  109. Another shoe drops in the FX fraud manipulation conspiracy<p>May 26, 2017 11:20 AM<p>Well that de-escalated quickly…<p>While The Democrats, NYT, CNN, WaPo, …


  110. New Jersey Governor Chris Christie had an awful 2016, what with Bridgegate and a presidential election bid that flamed out early. This year isn’t off …


  111. An interesting report suggests the that technology never caught up to the stellar concept<p>Comedy Central’s “South Park” has mastered the art and science of satirizing topical issues in an animated form on a weekly basis. It appears, however, that translating those advances to a daily broadcast was a …


  112. The Securities and Exchange Commission is letting a number of large companies get away with questionable accounting based on some pretty lame excuses.<p>…


  113. At a recent New York Mets game, nearly every member of the team who stepped up to the plate first slipped a power sleeve onto his bat in the on-deck circle and took a few practice swings. Many of their opponents did the same.<p>Warming up with the 24-ounce weight is supposed to increase bat speed in a …


  114. Another shoe drops in the FX fraud manipulation conspiracy<p>May 26, 2017 10:54 AM<p>There were several highlights worth noting in the latest Flow Show …


  115. Another shoe drops in the FX fraud manipulation conspiracy<p>May 26, 2017 10:17 AM<p>UMich confidence is stable at its post-Trump plateau for now, but the</b> …


  116. A key staffer gets cagey when asked about the status of sanctions against Russia<p>The topic of sanctions against Russia — more specifically, whether President Donald Trump will strengthen, weaken or leave in place both the sanctions imposed by President Barack Obama after Russia’s 2014 invasion of …


  117. The congressman from Maryland says the “continuing pattern” has led him to believe there’s a fire behind the smoke<p>Rep. Steny Hoyer D-Md., said that he believes he’s seen a “continuing pattern of cover up” in President Trump’s actions to thwart the federal investigation into his campaigns alleged …


  118. Donald Trump sold himself as a presidential candidate who understood business, but since his victory he has demonstrated a frighteningly narrow grasp of modern, globalized industries.<p>The latest example? His comments on Germany’s automakers.<p>Der Spiegel and other German media outlets reported on …


  119. Again, we’re only about four months in to this appalling administration, so Trump has plenty of time to appall us even more. But I must say that the …


  120. IMAX/Pstas – Note the date above the comments, that was the adjustment we made on IMAX already, not a new trade today.  Just reviewing to show the process – as some people don't seem to understand the concepts of scaling in, long-term investing or patience….

    Handshakes/StJ – That should be thing for World Leaders, just find different ways to mess with Trump every time he tries to shake hands.  Would be really fun with black leaders:


  121. Looks like everyone is gone for the weekend already.

    Indexes almost dead flat.   Oil $49.68, /RB $1.6227 into the close in 30 mins.  I say they make $1.63 – not holding that one into the weekend, especially with this report:

    Why Americans Aren’t Hitting the Road This Summer


  122. not gone, you just posted some good articles today… busy reading and hoping we get one more selloff today, momentum seems to be dying and I don't expect many to be buying, so I made a little IWM bet near yesterday's highs…


  123. Going soon, Phil, but like mkuc said, good article (but will save most for reading later). handshakes. LMAO!


  124. Batman-Napa. Just plugged in for a quick PSW & market check in. Napa rocks. If you get a chance, Gott Roadside in St Helena worth a trip and you can BYOW (wine). If you and your wife are wine people, ACME Wines up the road is tapped into all the new projects in the valley and can make a good recommend. Jolie Laide Pinot Gris for $30 is killer and sure they have it in stock. Great outdoor summer drink. 

    Good weekend to all….. 


  125. Weekend  material;

    Have  somebody  visited this hotels?, will try it in September.

    http://www.puydufou.com


  126. Sell-off/Mkucs – Well, I don't think today.  As I said, any trader with clout left already so the jr traders that are stuck at work have simply been tasked with watching but not touching.  I was a good news day.

    /RB $1.627 – almost hit it!    $2,300 on oil, $2,062 on /RB and I'm leaving my 2 long /DX to see if I can make it $10K by Tuesday – 2 days in a row!  I get more excited when I make it with the small trades…

    Thanks Scott.

    Have a good weekend to all those sensible enough to leave early,

    - Phil

    That looks great Advill.  We actually did the one with the eagles, forgot the name but a lovely castle in France.  Never knew about the others.   I wanted to do this Disney Nature Hotel in Paris but sold out for my week:  http://www.disneylandparis.co.uk/hotels/villages-nature-paris/

    Have you looked into those, where are they and which one looks best?


  127. Wow, it must be good, Advill, sold out July and Aug!  


  128. A friend mentioned, it's very popular right now, specially in summertime it's a mix of Club Med and Disneyland ( low tech), mostly with " experiences" good restaurants and shows but with gardens to relax and "live" the different ambiances.

    Try September


  129. LOL!   This is my big trip for this decade.  After this I'm booked through 2018…


  130. I didn't know about this park Advill but it does look great. Adding that to my list now!


  131. That looks like a "decent" location in Paris Phil! You might have a hard time deciding what to do for meals though. Could be the toughest part of the trip.


  132. Have a great weekend everyone!


  133. Sometimes you get in a zone calling these things:

    • Stocks barely budged in quiet pre-holiday trading but the S&P 500 and Nasdaq still eked out a seventh straight day of new closing highs, capping off a strong week that saw the Dow gain 1.3%, the S&P climb 1.4% and the Nasdaq jump 2.1%.
    • "A lot of what we've seen this week is investors being pretty comfortable with their positions, and that's why we're seeing so little selling ahead of the long weekend," says Edward Jones strategist Kate Warne.
    • The consumer staples sector (+0.3%), along with consumer discretionary (+0.3%), topped today's leaderboard, thanks in part to Costco's better than expected earnings and revenues.
    • Today's participation was light, with just 683M shares changing hands at the NYSE floor vs. the 50-day simple moving average of 1.1B.
    • For the full week, an unlikely combination led the pack: shares of utilities companies and tech firms both gained more than 2% for the week.
    • U.S. crude oil rebounded from yesterday's nearly 5% drop, settling 1.8% higher at $49.80/bbl, paring the week's loss to 1.7%.
    • Treasury prices rose slightly, with the benchmark 10-year yield shedding a basis point to 2.25%.

    Well, humans had a good run:

    • Apple (NASDAQ:AAPL) is developing a chip made solely for artificial intelligence, according to Bloomberg. The chip could help Apple better integrate its AI across numerous products in a manner similar to advances by Amazon and Google.
    • Apple’s chip, called Apple Neural Engine within the company, would allow AI tasks to head to a dedicated processing spot rather than straddling the main processor and graphics chip.
    • A dedicated AI chip would save battery life, improve performance, and better ready Apple for its goals in augmented reality and self-driving cars.
    • Apple Neural Engine would join existing AI-capable chips from Qualcomm, Google, and Nvidia.
    • Google ([GOOG]], GOOGL) is launching a venture capital program focused on artificial intelligence, according to Axios.
    • Google VP of engineering Anna Patterson will lead the program and other Google engineers who focus on AI will move through the program. Participants will allegedly report directly to Google rather than Alphabet.
    • The program may focus on small investments at first and could coordinate with Google Ventures on projects.
    • Alphabet outlined its AI focus during the developer conference last week. Development projects include machine learning to prevent dropped video calls and an accessibility boosting “Lens” app feature that will tell blind users what is in front of the device’s camera.

    Zuckerberg was warning Harvard grads about moving over for machines today:


  134. I've still got a few /ES shorts…

    Short Sellers Resist Covering as S&P 500 Retakes Record in Week
    https://bloom.bg/2qXh8el


  135. Phil / Paris

    $450 per night in Airbnb!, how much  room in the George V?, that's why as Yodi I use my RV, in Versalles is a beautiful camping site with train connection.


  136. A longer Look at SP 500 Earnings

    May 26, 2017

    By Brian Gilmartin

    2019 est: +10%

    2018 est: +12%

    2017 est: +11%

    2016: +1%

    2015: -1%

    2014: +8%

    2013: +6%

    2012 +6%

    2011:+15%

    2010 +40%


  137. Trump Returns to Crisis Over Kushner as White House Tries to Contain It

    President Trump headed home on Saturday to confront a growing political and legal threat, as his top aides tried to contain the fallout from reports that his son-in-law, Jared Kushner, is a focus of investigations into possible collusion between Russia and the president’s campaign and transition …


  138. BMW has been showing off its vision for the future of mobility for a while now, revealing numerous concept vehicles that are both extremely …


  139. Here’s why American Express was the investment that made Warren Buffett who he is today.<p>Warren Buffett wasn’t always a long-term, buy-and-hold …


  140. Two-thirds of the reef is at risk of dying. It’s time to focus on maintaining rather than improving it, scientists say.<p>It’s official. The Great Barrier Reef cannot be saved.<p>The prognosis comes from the Australian government’s Reef 2050 advisory committee, made up of experts and scientists …


  141. Bear is a note-taking app from Italian design firm Shiny Frog that’s seen a recent spate of popularity as a replacement for apps like the bloated Evernote, primarily due to its simple design and quick speed.<p>And Shiny Frog has been good about keeping Bear up to date, with today’s 1.2 update (as …


  142. More and more, everything crucial about the present and future of consumer tech runs through at least one of five companies: Alphabet, Apple, Facebook, Amazon, and Microsoft.<p>Smartphones, laptops, app distribution, voice assistants and AI, streaming music and video, cloud computing, online shopping, …


  143. New analysis from Bank of America shows the S&P 500 to be expensive on 18 of 20 valuation measures.<p>The majority of those measures point to the S&P …


  144. <b>Washington (CNN) —</b> Department of Homeland Security Secretary John Kelly said Friday that the American public would “never leave the house” if they knew what he knew about terrorist threats.<p>Speaking to “Fox and Friends” hosts, Kelly noted that there were four major terror attacks in the last week, …


  145. President Trump has painted himself as the savior of America’s coal industry and the countless miners who have been crushed by its demise.<p>”For those miners, get ready because you’re going to be working your asses off,” Trump said in a May 2016 speech in front of a crowd holding up “Trump digs coal” …


  146. RIO DE JANEIRO — Cartoonish depictions of Brazil’s president are so popular that his office is trying to restrict access to his pictures — so they don’t get turned into lampoons on social media.<p>Some Brazilians joke that a bold outsider — like Tite, the coach turning around the fortunes of Brazil’s …


  147. TAORMINA, Italy — President Trump declined to embrace the Paris climate accords on Saturday, seeking more time to decide whether the United States would pull out of the 195-nation agreement, according to a person with knowledge of a statement to be released by the six other nations here reaffirming …


  148. We have been bullish on gold – the barbarous relic; King Dollar – the modern hegemon; and Bitcoin – the crypto currency investors love to hate. One …



  149. Johnsonville, Connecticut, looks straight out of an episode of “Twin Peaks” — old mill included. But unlike the small town on TV, Johnsonville has been abandoned for nearly 20 years.<p>Located on 62 acres off the Connecticut River, Johnsonville is up for grabs at $1.9 million. An eccentric millionaire …


  150. Congratulations to the class of 2017. To paraphrase Elle Woods from the <i>Legally Blonde</i> movie, you did it! Graduating from college is a tremendous milestone in life.<p>It’s been quite a few years since I was in your position. However, I still remember sitting on the platform, waiting for my name to be …


  151. With technology generating futuristic advances, look for investment opportunities within healthcare — and beyond.<p><i>Insights from Sarbjit Nahal, head of thematic research at BofA Merrill Lynch Global Research and<br>Joseph Quinlan, head of market & thematic strategy at U.S. Trust</i><p>The silicon chip and the …


  152. The bitcoin boom is back. This week, the digital currency leapt to record heights, peaking at nearly $2,800 before tumbling back down to around …


  153. Nearly 107 million Americans have an auto loan.<p>It’s a record high, and there are growing concerns that many people who obtained their car loans couldn’t really can’t afford them.<p>Alarm bells are ringing because one of the largest subprime auto lenders in the nation — Santander Consumer USA — only …


  154. Message to residents on the East and Gulf coasts: Brace yourselves for a wet and worry-filled summer.<p>The National Oceanic and Atmospheric Administration is predicting an above-normal 2017 Hurricane Season, with five to nine hurricanes — two to four of them Category 3 (winds at least 111 mph) or …


  155. NEW YORK (Reuters) – The U.S. economy is expected to expand at a 3.7 percent annualized pace in the second quarter based on reports released earlier this week that showed decreases in new and existing home sales in April, the Atlanta Federal Reserve’s GDP Now forecast model showed on Friday.<p>The …


  156. To control your home or your local Ring installation<p>When Microsoft unveiled its digital assistant in 2014, it looked to the <i>Halo</i> franchise for inspiration, naming its system Cortana, after Master Chief’s AI companion. One ambitious fan has gone a step further and created his own holographic version …


  157. Artificial intelligence, long the staple of science fiction, is quickly moving into the mainstream of everyday life. It is already disrupting some …


  158. A new projection put the opportunity in solar at $2.8 trillion and there’s plenty of money to go around.<p>We are just beginning to scratch the surface …


  159. Amazon.com, Inc. (AMZN) is rapidly approaching the $1,000.00 per share milestone that would put its market capitalization at close to half a trillion …


  160. Phil RB. Good call on 1.63! Were you using the 5% rule.


  161. Interesting read. 

    Farming the World: China's Epic Race to Avoid a Food Crisis
    https://www.bloomberg.com/graphics/2017-feeding-china/


  162. Good story Jeffdoc. We'll all need new methods of farming eventually to meet the needs of more and more people. In the long run, I hope that hydroponics farms will become more popular – they need less space, less water and fewer chemicals.There are already some good examples here in NJ. Maybe that technology can be exported to placed like China where land is becoming rare.


  163. Fact checking Trump is almost a full time job:

    http://talkingpointsmemo.com/news/trump-fact-check-nato-claims


  164. Albo:

    CenturyLink and Level 3

    CenturyLink Inc. (NYSE: CTL) and Level 3 Communications Inc. (NASDAQ: LVLT), with the former in the process of buying the latter, were both downgraded to Underperform from Market Perform at Raymond James on May 15. That’s the firm’s version of a Sell rating, and it believes that investors may throw in the towel here and see lower rather than higher post-merger growth at Level 3.

    The only good news here about such negative ratings is that CenturyLink shares hardly budged on the call. After closing at $24.63 the prior day, they managed to close at $24.81 after the downgrade. The stock closed at $24.87 on Friday. One other thing about CenturyLink was that activist hedge fund Corvex Management recently took stake in it.


  165. Handshakes? Really?

    I get the media is all agog over the Trump story but seems they/we all need to take a few days off and regroup. 

    Macron Says Trump Handshake Was 'Moment of Truth'


  166. AMZN- maybe it is just me but seems to be a lot of favorable commentary re: AMZN since Buffet's remarks at the annual meeting. ( Wide-moat rated Amazon currently trades at a 9% discount to our analyst’s fair value estimate. )

    Profit? What's that supposed to mean? 


  167. Phil/Albo – VRX Valeant –  Nice work using the weakness to acquire for long spec.  Interesting info, if you have not already seen this analysis from Allergan during proposed acquisition by VRX.  

    Bad news: Stock did a hedge exit collapse from $257.53 7/31/15 to $8.51 on 04/21/17.  Bulk of past revenue increases had come from acquisitions. Revenue declines are accelerating. 

    Good news: Ackman's out. Stock had bounced to $14.17 on 5/15/17; now back to $12.83.

    Napkin math: 2016 Rev $9.6B/350M shares = est. $27.50 book.  Begging the questions, was the collapse exaggerated?   Was the bounce a dead cat?  How will VRX hold up under the stress of accelerating revenue declines and/or a market correction?  Good luck and Out.


  168. Phil – High End Art, Cars, Etc. -  Usually, the last thing to go up in prices before the cycle turns ugly.

    Jean-Michel Basquiat – Not only is the American artist responsible for the most expensive single work of art sold last week (May 15, 2017) —the $110.5-million canvas Untitled (1982)—he also cleaned up at all three auction houses. All told, the 27 Basquiat works on offer in both the day and evening sales sold for a total of just over $200 million. Here’s the breakdown.

    Christie’s: $57,863,500
    Sotheby’s: $130,905,004
    Phillips: $12,976,000
    Total: $201,744,504" – source ArtNet


  169. Phil:

    EGHT a cloud company more than 10 years in the market,  having good scores in Zack´s what is your opinion?


  170. Rising Cost of Loan Funds – Fed Raise – June 14 25bps FOMC Raise Probability = 84.2% 

    Did anyone catch the minutia at the very tail end of the FOMC minutes released on May 24th?  It would serve investors well to read that aft section titled: System Open Market Account Reinvestment Policy.

    Fed Bond Purchase Tapering – An approach and method have been outlined with a promise to start this year.  Exact tapering caps and dates TBD.  Again, when that last item is divulged, be prepared and Out.


  171. Advill – EGHT 8×8 – In a similar space, for comparison, take a look at VG, recent similar B2B cloud expansion gaining business rev through acquisitions; with a paying public customer base of 1.7M to fund it; and an actual profit. Diluted book value – 2016 Rev 956M/Shares 222M – 4.30 book – and not a momentum play.


  172. Advill – Oops, I should say 2016 revenue per share, not book value.  There are other issues with VG, as there are with EGHT.  Too many things going on, Chinese Hibor 1 and 2 Week jumping into double digits had me distracted and Out.


  173. WASHINGTON (Reuters) – U.S. President Donald Trump attacked the news media and dismissed leaks from the White House as “fake news” on Sunday, following reports his son-in-law tried to set up a secret channel of communications with Moscow before Trump took office.<p>Shortly after Trump’s remarks on …


  174. Reuters/ Brian Snyder<p>“I’m telling you right now, the US is going to have a crash and it will be massive,” asserted Mark Yusko at Mauldin Economics’ Strategic Investment Conference.<p>In his keynote speech, Mark Yusko, CIO of Morgan Creek Capital Management, outlined where he sees the biggest …


  175. Trump either chose to hold himself apart from the other leaders or was exhausted.<p>Whether because he was exhausted or trying to underscore the distance between himself and other world leaders, President Donald Trump chose to use his favorite vehicle — a golf cart — rather than walk with the rest of …


  176. OSAKA, Japan — The country suffered a “lost decade,” and then another one, after its bubble burst some 25 years ago. To this day, despite Prime Minister Shinzo Abe’s efforts to reinvigorate it, Japan’s economy remains in the doldrums.<p>Now, experts are warning of a “lost generation” — a whole tier of …


  177. Kushner’s Relationship With Trump Tested as Russia Accusations Swirl

    WASHINGTON — The most successful deal of Jared Kushner’s short and consequential career in real estate and politics involves one highly leveraged acquisition: a pair of adjoining offices a few penny-loafer paces from his father-in-law’s desk in the White House.<p>Over the past week, Mr. Kushner, who …


  178. <b>French President Emmanuel Macron has said his clenched handshake with Donald Trump was “not innocent” and was a “moment of truth”.</b><p>The awkward encounter saw each grip the other’s hand so firmly that their knuckles turned white .<p>Mr Macron told French media he had wanted to “show he would not make …


  179. Japan’s auto companies have ambitious goals for the 2020 Tokyo Olympics. Industry heavyweights like Toyota and Nissan are planning autonomous vehicles to ferry athletes between the Olympic village and various sporting venues around Tokyo Bay. And Toyota is working on a new retro-styled London …


  180. On May 25, the cryptocurrency trading volume hit $4.3 bln. Bitcoin, Ethereum, Ripple, Ethereum Classic, Litecoin and NEM drove the cryptocurrency …


  181. European stocks were steady while shares in Italy’s banks dropped along with the country’s bonds after comments from former Prime Minister Matteo …


  182. by TDB – May 28, 2017 11:58 AM<p>The former President of Catalonia defied the Spanish government when he held a referendum to form a new country of …


  183. WASHINGTON — The Constitution does not answer every question. It includes detailed instructions, for instance, about how Congress may remove a president who has committed serious offenses. But it does not say whether the president may be criminally prosecuted in the meantime.<p>The Supreme Court has …


  184. <i>After eight long, bitter years under Obama, will things go better for entrepreneurs and small businesses now that Donald Trump is in the White</b> …


  185. When Simple Math Is Wrong

    “It’s simple math,” she said. “$100,000 is less than $150,000 — it’s like earning a free $50,000.”<p>My wife and I were being pitched a timeshare.<p>Our salesperson was offering a value proposition she thought was unbeatable: If we paid $100,000 for this timeshare, we’d save roughly $150,000 (she was …


  186. As a member of the Republican Party and Speaker of the House of Representatives, Paul Ryan is more than accustomed to dealing with the ire of rival politicians.<p>Last week, however, Mr Ryan faced anger from a different quarter.<p>The opposition came from eighth-grade schoolchildren who refused to take …


  187. Are you ready for another U.S. Government shutdown?<p>Judging by how well the 2013 government shutdown polled (81% of Americans were against it), you’re …


  188. Snaking queues of thousands of prospective apartment buyers in Hong Kong signaled authorities have made no progress in cooling a red-hot property …


  189. BERLIN (AP) — Economists say countries should ramp up the price of carbon emissions to as much as $100 per metric ton by 2030 to stop catastrophic global warming.<p>Experts including Nobel Laureate Joseph Stiglitz and former World Bank chief economist Nicholas Stern say carbon dioxide should be taxed …


  190. Commentary: Apple co-founder says he’s betting on Tesla to be at the forefront of the next big thing. He says Elon Musk creates products to please himself.<p><i>Technically Incorrect offers a slightly twisted take on the tech that’s taken over our lives.</i><p>When it comes to the next great tech breakthroughs, …


  191. <i>Guardians of the Galaxy Vol. 2</i> is now the biggest comic book superhero movie ever sans Iron Man, Batman and Spider-Man. The Disney sci-fi sequel earned another $19.9 million (-41%) over ths Fri-Sun weekend for a likely $28.5m Fri-Mon holiday haul and a new $337m domestic cume by tomorrow. The film …


  192. Walmart’s online sales are exploding

    Wal-Mart saw its online sales growth fall into single digits last year before it decided to actually do something about it. When Wal-Mart reported just 7% growth in e-commerce sales in the first quarter of fiscal 2017, the backlash may have been the impetus it needed to start making major …


  193. Lawmakers are eager to set up ‘deconfliction’ agreements with the new special counsel, but they have yet to meet with Mueller.<p>Robert Mueller’s appointment as a special counsel has quickly complicated Congress’ investigations into Russia’s election meddling. And the former FBI director has done …


  194. The country’s deteriorating roadways – and how to improve them — are the subject of a new report that found that infrastructure investments have the potential to save 63,700 lives and prevent 353,560 serious injuries over a 20-year period if repairs and maintenance were to become a priority.<p>“Safety …


  195. Oh no, it moves<p>An image of Samsung’s new stretchable prototype display was everywhere last week. Now we’ve got split-screen video of the 9.1-inch OLED in action. Unlike the flexible OLED that embraces the Galaxy S8 chassis, Samsung says that its stretchable display has the elasticity to bend in two …


  196. Defense Secretary James Mattis said Sunday that U.S. forces have entered a new, more aggressive phase in the fight against the Islamic State (ISIS), …


  197. Report on Rich’s death mentions connection of dead UN official to Chinese influence buying scandal<p>More than 3,000 images and 89 videos…<p>Why is the …


  198. BEIJING (Reuters) – China needs to shift away from over-reliance on heavy industries, large-scale and careless expansion, and the depletion of the country’s natural resources, President Xi Jinping said on Saturday, according to state media.<p>China’s air, water and soil pollution need to be tackled, …


  199. Starbucks baristas say that a recent initiative to improve customer service proves how out-of-touch the company’s executives are with what’s really going on in stores.<p>In interviews with more than a dozen current and former Starbucks workers, employees told Business Insider that serious adjustments …


  200. Tanger Factory Outlets: Bargain Of The Year

    Sir John Templeton famously said, that “to buy when others are despondently selling and sell when others are greedily buying requires the greatest fortitude and pays the greatest ultimate rewards.”<p>One of the hardest things about being a value investor is to recognize that buying stocks in the face …


  201. Iron ore spot markets were hammered yet again on Friday, falling heavily ahead of a long weekend in China.<p>According to Metal Bulletin, the spot price for benchmark 62% fines tumbled 3.87% to $57.91, leaving it at the lowest level since October 14 last year.<p>As seen in the daily chart below, the …


  202. Stock Markets21 minutes ago (May 29, 2017 04:24AM ET)<p>Saved. See Saved Items.<p>This article has already been saved in your Saved Items<p>© Reuters. …


  203. Demand from online retailers for warehouses around London is now so strong that the capital has just eight months’ worth of space remaining.<p>The average annual take-up of industrial space in London has reached 7m sq ft, with smaller urban warehouses accounting for a third of demand, according to …


  204. Supreme Court’s next step on gerrymandering could be its biggest yet

    <b>Washington (CNN) —</b> During a lull between elections, the Supreme Court is taking on a hot-button political issue that could change the way legislative lines are drawn across the country.<p>It’s called gerrymandering — a term that arises from a district shaped like a salamander that was drawn during …


  205. Dubai stocks are trading at the cheapest level since November as the one-year forward price-to-earnings ratio for its main stock gauge falls near …


  206. The value of Bitcoin has been soaring uncontrollably over the last few months, especially during last week. But given the notorious volatility of cryptocurrencies, this glorious run might be close to an end any moment now – and this handy tool lets you spot this in real-time.<p>Designed by developer …


  207. Ayatollah Ali Khamenei has warned Saudi Arabia’s rulers they face “certain downfall” for their close ties with the US. Iran’s pragmatic president …


  208. <b>Overview</b><p>How measuring stock market and economic breadth can be a useful investing tool.<br>• Hindenburg Omens over the last several weeks have occurred, …


  209. How Gilead Sciences wooed Warren Buffett and other things you probably didn’t know about the big biotech.<p><b>Gilead Sciences</b> (NASDAQ:GILD) is known for …


  210. This is what happens when the president knows nothing about health policy.<p>Donald Trump, in one of his first Tweets after a trip abroad that left at …


  211. There’s an object lesson in Harrison’s accidental expansion of Yellowstone: In the end, it was a good thing<p>When President Donald Trump recently described the creation of 40 national monuments over the last 20 years as a “massive federal land grab,” it was another example of the hyperbole typical of …


  212. FRANKFURT—The eurozone economy still needs a “fairly substantial amount” of monetary stimulus from the European Central Bank, its President Mario Draghi told European lawmakers on Monday, striking a cautious note in his last public comments before the bank’s June policy meeting.<p>As the region’s …


  213. Borrowing in the US is at record highs but the phenomenon is a far wider problem<p>Virtually every class of US debt — sovereign, corporate, unsecured …


  214. French President Emmanuel Macron will give Russia’s Vladimir Putin a tour of the royal palace at Versailles near Paris on Monday, following up his …


  215. Has it gone unnoticed that Donald Trump has exonerated the nefarious “deep state” from conspiring against his presidency?<p>From that one tweet we …


  216. Heather Knight, Roboticist<p>My colleague and I got to take a TESLA Autopilot test drive on highways, curvy California roads, and by the ocean. In case …


  217. Trump released a Ramadan statement that couldn’t stop referencing terrorism<p>The White House just released a statement commemorating Ramadan that — instead of simply expressing solidarity with Muslims during their holiday — couldn’t stop itself from referencing terrorism.<p>Even President George W. …


  218. The impeachment delusionSchemes to topple the president quickly would hurt the country<p>Donald Trump’s opponents risk splintering the democratic order …


  219. IT glitch affected more than 1,000 flights over weekend meaning people missed holidays, lost luggage or were stranded on aircraft<p>British Airways could face a bill of at least £100m in compensation, additional customer care and lost business resulting from an IT meltdown that affected more than …


  220. British Airways has infuriated some passengers caught up in the weekend’s disruption by refusing to pay for tickets booked on other airlines.<p>More …


  221. LONDON — German Chancellor Angela Merkel on Sunday declared a new chapter in U.S.-European relations after contentious meetings with President Trump last week, saying that Europe “really must take our fate into our own hands.”<p>It was the toughest review yet of Trump’s trip to Europe, which inflamed …


  222. Six years after the nuclear disaster, Japan is pushing villagers back to the homes they left<p>FROM his desk, the mayor of Iitate, Norio Kanno, can see …


  223. Over the last five years, Japan’s economy has contracted by more than two trillion dollars in GDP and 1 million people in lost population.<p>If the US doesn’t keep investing in immigrant labor and flexible work schedules, it could be only a couple decades behind.<p>Experts call situations like Japan’s …


  224. “There is actual joy to be found in Jesus Christ,” Abigail Whelan told Democrats.<p>Pressed about her lack of support for an amendment that would close …


  225. Patience In Investing

    By Master Class Invest“<b>Patience</b> can produce uncommon profits” Philip L Carret“It is possible to make money— and a great deal of money—in the stock …


  226. US Federal Prosecutors have steadily upped their enforcement of Wall Street crime since the 2008 financial crisis, with a case in Connecticut …


  227. Jared Kushner, the son-in-law of President Donald Trump, is now a key figure in the FBI’s investigation of Russia’s interference in the 2016 …


  228. <i>Just returned from Europe. Trip was a great success for America. Hard work but big results!</i><p><b>— Donald Trump, Sunday morning</b><p>For more than four months, the White House has confirmed no European ambassadors, filled no high-level diplomatic jobs and given no indication that it ever will. Occasional …


  229. If the president’s trip to Saudi Arabia and Israel was farcical, his European stop left the world order shaken<p>On the morning after the presidential election, still reeling from the shock and struggling to wrap my mind around what had happened, I wrote this in my column for Salon:<p>We wake up today to …


  230. by globalintelhub – May 28, 2017 9:40 PM<p>The Conspiracy Mill – seeing how the information machine controls markets and minds.<p>E.Coli after rejecting …


  231. U.S. markets are closed for the Memorial Day holiday, and with UK and Chinese markets also closed for various holidays, it has been a quiet start to …


  232. My Memorial Day morning reads:<p>• On Memorial Day, Honor the Military Sacrifices of All Who’ve Served (NBC)<br>• Advice from Buffett, Munger, and Gates …


  233. Lawmakers in Ohio are proposing to subsidize permanently two coal-fired plants.<p>As coal-fired power plants continue to shutter across the country, …


  234. No area of the stock market has been hotter than tech since the election, and it seems investors still haven’t gotten their fill.<p>They poured $1.8 billion into the largest exchange-traded fund tracking the sector on Tuesday, the biggest single-day inflow since September 2010.<p>That jibes with data …


  235. Office of Management and Budget Director Mick Mulvaney discusses the Trump administration’s proposed federal budget for fiscal 2018 at a news …


  236. Donald Trump wrapped up his first foreign trip as president — a nine-day excursion from Saudi Arabia to Sicily — without once holding a news …


  237. Deep troubleHow to improve the health of the ocean<p>The ocean sustains humanity. Humanity treats it with contempt<p>print-edition iconPrint edition | …


  238. Is China Outsmarting America in A.I.?

    HONG KONG — Sören Schwertfeger finished his postdoctorate research on autonomous robots in Germany, and seemed set to go to Europe or the United States, where artificial intelligence was pioneered and established.<p>Instead, he went to China.<p>“You couldn’t have started a lab like mine elsewhere,” Mr. …


  239. Getting rid of him is imperative. But doing so won’t prove we’re no longer the country that elected a predator.<p>The constitutional crisis that’s upon us began not with the derangement of Donald Trump, but with the derangement of America’s political and civic culture that made him so plausible to so …


  240. Thanks Nat!

    Well, it was just a question, trying to find something with logic  P/E, it seems that we are the only ones not being in U.S. today

    LOL

    Regards


  241. Advill – watch out for the mid year Hacienda effect, it may have started earlier than expected viz. prior to Memorial Day with the 5% drop last week.

    See June chart for /CL WTI past three years $7 – $12 and $7 drops respectively.  June 2014 was followed by a massive crash due to the July 9th release of the June FOMC minutes which contained this clue as to when the punch bowl of QE would be taken away… 

    If the economy progresses about as the Committee expects, warranting reductions in the pace of purchases at each upcoming meeting, this final reduction would occur following the October meeting.

    Again, as per our earlier posts today and prior, if the Fed raises in June, now 85% chance. and since in the last release they already outlined the method for bond purchase tapering (a much bigger punch bowl) and a promise it would start THIS YEAR, which NOBODY paid attention to.  It is possible that when the June minutes are released three weeks later in July, those might contain specifics as to how much and WHEN.  Whenever this occurs it will precipitate major unwinds and dislocations in markets and Out.


  242. Hola people!  

    Just stopping home on my way to NYC (TV tomorrow morning).

    Not too much excitement over the weekend and still a few days left in the month so we'll see.  

    The only Futures contract I have working is the Dollar longs (2). 

    5% Rule/Latch – Of course, $1.67 to $1.60 is 0.07 so call them 1.5-cent bounces to $1.615 and $1.63 (strong).

    Handshake/Pstas – The real point is we have a President who is such an International joke that World leaders are having fun doing weird handshakes with him – because they have NO RESPECT for him at all.  He's a friggin' embarrassment – that's the point – our status internationally is dropping like a rock and who followed Trump and took on the role of a strong, sensible leader – PUTIN!  It couldn't have gone better for Putin if he and Trump had sat down and planned a way for the US to blow its standing while improving Russia's.  

    VRX/Naybob – They still scare me but finally got cheap enough to make it worth the risk. 

    EGHT/Advil – Solid and boring but that's good in this space.  Very thin margins (so high multiple) and I don't like cloud companies as I think it's a commodity that will always have thin margins and huge competition.  That being said, making no money seems to be a FEATURE in this market so make of it what you will but not something I'd play.


  243. Hedging trades for the Nasdaq:

    They wanted 3 ways to hedge so:

    Nasdaq 100 Futures (/NQU7) are at 5,796 and pay $20 per point per contract, shorting 1 Sept contract protects your portfolio through the summer and you can set a stop over 5,800, where you'd have an $80 loss but a 10% drop in the Nasdaq of 578 points would pay $11,560.  Good to use any time you get nervous.

    Using the Nasdaq ETF (QQQ) you can lock in your gains at $141.22 by buying 10 Jan $147 puts for $9.75 ($9,750) and selling 10 Jan $136 puts for $5.05 ($5,050) for net $4,745 on the $11,000 spread.  That's an upside of $6,255 (131%) if the Nasdaq drops 5 points (3.5%).  As a rule of thumb, we put about 1/3 of our unrealized gains into our hedges to lock them in.  

    The Nasdaq Ultra-Short ETF (SQQQ) is a 3x inverse ETF at $30.36 so a 10% drop in the Nasdaq would move the index up about 30% to $40.  In this case, we would want to take a bull call spread, like 20 Jan $35 calls for $3.25 ($6,500) and sell 20 Jan $40 calls for $2.70 ($5,400) for net $1,100 on the $10,000 spread.  The upside potential here is $8,900 (809%) if the Nasdaq falls 10%.

    In both cases, I like to offset the cost of the hedge with a bullish position on a stock I wouldn't mind buying if it got 10% cheaper.  We already have a bullish position on GILD so let's add to it and sell 5 GILD 2019 $55 puts for $4.90 ($2,450) and that nets us into 500 shares of the stock at just $50.10 ($25,050) if assigned, $14.40 – 22% below the current $64.50 price.  

    TV link for this trade:  http://bit.ly/2qt1Qzy


  244. Hi All – I posted the article :"Scarier than the Living Dead" which Pstas just linked to, here: http://www.philstockworld.com/2017/05/29/scarier-than-the-living-dead/.  Comments / essays / welcome – if you put your thoughts there, in the comments to that post, they won't get lost in the shuffle. smiley


  245. Handshake/Pstas –

    Well Phil in deed you hit the nail right on the head!!!!! What a clown. I still can not figure out that responsable people accepting this guy in government. A monkey would be better to replace him. The best picture Taken of him in Europe was as he shoved one representative away, this surely says it all. 1000 world one picture.

    Please Americans wake up surely you can do a bit better than this.


  246. Good morning!

    I hope everyone had a nice holiday weekend.  I'm in NYC today, I have my Nasdaq thing at 10:30 and should be back on by 11. 

    Now they are talking about banning laptops on all flights, maybe IPads too.  Travel is going to be very annoying.

    Europe is down a bit and our futures are down a bit but nothing drastic.  Dollar was up to 97.7 but back below 97.50 now.  Still, it knocked silver and gold down and they stayed down ($17.30 and $1,266).

    Oil still $49.64, poor OPEC.  /RB $1.622 and they are both in big trouble if weekend demand seems like it was weak.

    San Francisco Fed's Williams: US economy doesn't need a fiscal package

    Merkel Says U.S. Ties Shouldn't Deter Europe From Own PathGerman Chancellor Angela Merkel said she remains a “committed trans-Atlanticist” who wants strong ties with the U.S., even as she renewed her warning that reliable relations with her country’s closest post-World War II ally may be a thing of the past. Following global reaction to comments she made Sunday, Merkel stood her ground for a second day, saying it was good that last week’s Group of Seven summit “didn’t paper over” a clash on climate change that pitted President Donald Trump against the other six leaders.

    Draghi Says Euro Area Still Requires ECB Monetary Support. (videoThe euro area still needs expansive monetary stimulus to restore stable inflation even as its economy accelerates, European Central Bank President Mario Draghi said. “We remain firmly convinced that an extraordinary amount of monetary policy support, including through our forward guidance, is still necessary,” Draghi told lawmakers on Monday in Brussels. “Domestic cost pressures, notably from wages, are still insufficient to support a durable and self-sustaining convergence of inflation toward our medium-term objective.”

    Italian Stocks Tumble, Yields Jump On Sudden Fears Of Early Elections

    Robots May Help Defuse Demographic Time Bomb in Japan, GermanyManufacturing powerhouses will find it easier to adapt. Japan and Germany may be sitting on a ticking demographic time bomb where aging populations begin to drag down economic growth. Good thing they’re also prime candidates for robot revolutions. Increased automation and more use of robotic technology in these manufacturing powerhouses could help cushion the impact, according to Moody’s Investors Service.

    Simple (Economic) Math – Businesses Are No Longer Willing To Afford Labor

    Luxury Spending to Rebound in 2017 on Europe, China, Bain SaysTourism in Spain and the U.K. will lead a rebound in European luxury spending this year, while Chinese domestic consumption also increases, Bain & Co. said, raising its forecast for global growth in 2017. Sales of items such as designer handbags and fine jewelry will rise 2 percent to 4 percent to as much as 259 billion euros ($290 billion), Bain said in a report Monday. The consultancy had predicted growth of 1 percent to 2 percent in December, and the forecasts exclude currency swings.

    A Problem Emerges With Europe's "Recovery": Companies Crippled By Soaring Payment Delays

    Euro Slides After Greece Hints At Default

    Hong Kong's Housing Market Has Become "A Sea Of Madness" Central Bank Warns

    Will The Crazy Global Debt Bubble Ever End

    A Quick Guide to How Brazil's New Political Crisis May Play Out

    Bitcoin correction sees nearly $4 billion wiped off value of the cryptocurrency as price falls 19%

    Credit Scores Hit Record High as Recession Wounds HealMore than six million U.S. adults will have personal bankruptcies disappear over the next five years, according to a recent report?

    Remembering A Still Falling Hero: Small Business

    For Hotels, There’s No Room Left for Online Travel AgenciesMajor chains launch marketing campaigns to woo customers away from Expedia, Priceline.

    Digital video game sales hit $7.7 billion in April, easing from record high

    Apple(AAPL): Supercycle Hopes Drive Super-sized BetsAhead of developers’ conference, investors are stacking bets on Apple’s next iPhone.

    Three Leakers Of Classified White House Information Said To Be Identified, Expected To Be Fired