Author Archive for Zero Hedge

Oil Triple Whammy: Inventory Build, Iran Nuke Deal Has Votes, & China Gives Venezuela $5 Billion Loan

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Following last night's epic inventory build., according to API, DOE has reported a 4.7mm barrel build but US crude production pluinged 1.4% (lowest since March). However, ths oil complexc has been hit by two other 'issues' this morning as Obama captures the votes he needs to confirm the Iran nuclear deal (guaranteeing more oil supply) and China encumbers more Venezuelan oil ($5bn loan) allowing them to keep pumping at below-cost levels. The reaction for now is notable selling pressure…

Inventory Builds most in 5 months…

The Obama administration will be jubilant this morning as it appears they have captured enough votes to confirm the Iran-nuclear deal…

  • *OBAMA HAS ENOUGH U.S. SENATE SUPPORT TO UPHOLD IRAN DEAL

As MarketWatch reports,

Sen. Barbara Mikulski, a Maryland Democrat, said Wednesday she supports the nuclear deal with Iran, giving the agreement enough votes to be upheld in the Senate. She becomes the 34th Democrat to back the deal, the magic number to sustain a veto.

Of course, that confirms the Iran oil supply is coming.

And then there is last night's China-Venezuela "cash-for-oil" loan…

President Nicolas Maduro announced the signing of a special program w/ China for a $5b loan to increase oil production in coming months, according to a statement posted on the Venezuelan Information Ministry website.

Statement did not provide additional details on the loan

Loan agreement was signed by PDVSA president Eulogio del Pino and Venezuelan development bank Bandes president Simon Zerpa with the president of the China Development Bank, information ministry says in separate e-mailed statement

Which allows VENZ to keep producing at below cost.

*  *  *

The reaction to all this…

Even as production drops to six month lows…

Though we note that the majority of the production cut came from Alaska and no the Lower 48 (-100k vs -19k)

Charts: Bloomberg





US Recession Looms As Factory Orders Plunge 9th Month In A Row

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

US Manufacturers saw new orders rise at a modest 0.4% in July (missing expectations of a 0.9%). However, year-over-year Factory Orders crashed 14.7% (thanks in large part to last year’s Boeing order dropping out of the cycle). But even ex-Transports, New orders tumbled 0.6% in July and plunged 6.9% YoY. This is the 9th month in a row of YoY drops and is without doubt signalling an imminent US recession.

The breakdown as summarized by MNI: “The value of new factory orders rose 0.4% in  July, below the 0.7% increase expected in an MNI survey due to a sharp 1.3% drop in nondurables orders, data released by the Commerce Department Wednesday morning showed.”

Total factory orders excluding transportation were down 0.6% in  July on the decline in nondurable goods orders that more than offset a 0.4% increase for durables orders outside of transportation. The nontransportation durables reading was a downward revision from the 0.6% gain in the advance estimate.

Once again, it’s all about autos (subprime loans), and war: Transportation orders themselves were revised sharply higher to a  5.5% jump in July from the originally reported 4.7% rise; motor vehicles orders are now reported up 4.0%, while nondefense aircraft orders are reported down 6.1% and defense aircraft orders fell  13.1%. Orders for ships and boats were up 19.5%.”

Headline Factory orders collapse.

and even adjusting out Boeing’s huge order, it is a bloodbath.

Weather? Ports? What can ‘they’ blame this on? Doesn’t matter – full steam ahead with the rate hike!

 

Charts: Bloomberg





Italy Is “Willing To Temporarily Suspend Schengen” In Response To Refugee Crisis

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Europe’s refugee crisis just took a dramatic turn for the worse, and strikes at the very hear of Europe’s Shengen customs union which has allowed borderless travel within Europe for decades. As Bloomberg reports, the Italian Province of Bolzano in Northern Italy said in a statement that it agreed with the Italian government on request by German Federal State of Bavaria by “communicating a willingness to restore border controls at Brenner and temporarily suspend the Schengen agreement.

Bloomberg adds that Bavaria’s request was made to all neighboring regions, and includes aid for temporary logistical support in hosting refugees, and that it will “welcome for a few days, as a temporary measure to enable Bavaria to regroup and meet emergency contingent, a number of refugees estimated to be between 300 and 400.”

Here is the official statement from the Bolzano province, google translated:

Refugees, Bavaria asks temporary aid to South Tyrol

In the South Tyrol, Italy intervenes in support of Germany in receiving temporary refugees: Bavaria asked logistical support to the Province of Bolzano in these hours of emergency and President Kompatscher had green light from the Italian government for hosting for a few days a contingent of migrants to Germany.

Bavaria record wave record arrivals of refugees in the last hours, mainly via the Balkan route, which is creating an unmanageable situation: working to find new structures and cope immediately with the exponential growth in the number of migrants. Before this sudden emergency the Bavarian Minister Emilia Müller has contacted the provincial councilor Martha Stocker, at the forefront in addressing the issue and keep in touch with colleagues in neighboring regions, asking for a temporary logistical support in hosting refugees. President Arno Kompatscher informed the Italian government and asked the necessary go-ahead from Rome for an intervention of aid to Bavaria, “the perspective of autonomy responsibility and solidarity, but also a strategy with a European able to move over the regional and national borders.”

The Government has promptly activated in support of Germany’s request by communicating the willingness to step up, in respect of the Schengen agreement, controls the Brenner border, as was done during the G7. The Province of Bolzano will welcome then for a few days – as a temporary measure to enable Bavaria to regroup and meet emergency contingent – a


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Gartman Does it Again: Stocks Set To Surge As Newsletter Bulls Hit 6 Year Low

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

If there is one thing more or less guaranteed to create a bullish scenario for stocks, it is the sudden flip-flop of world-renowned newsletter writer Dennis Gartman once again to a short-of-stocks position. Worse still, his fellow newsletter writers, according to AAII, have not been this 'unbullish' since the trough in March 2009. Of course, what many are missing this morning isd 120 points of The Dow's gains are due to the panic-intervention by The BoJ at last night's Japan open…

Gartman: "Full-fledged bear market"… Long of tanker stocks, derivatives-hedged to a short overall equity position…

And AAII % Bullish drops to March 2009 levels (and bull/bear difference lowest since the dip in 2012)..

As Bloomberg notes,

Bullish newsletter writers tracked by Investors Intelligence sink to 27.8%, lowest reading since bear market nadir in March 2009 when bulls were 26.4%; bottom in stocks “may be close or at hand,” says II. Bulls were at 31.6% last week.

Bears rise to highest since Nov. 2012 to 26.8% vs 22.5% last week

Correction falls to 45.4% from 45.9%, remains at highest levels since Oct. and is 4th week correction tops bulls

Bull-bear spread contracts to 1.0 vs 9.1, smallest spread since string of negative readings in Oct. 2011

But thgen again, this "rally" is predicated on The BoJ's liftathon at Japan's open last night…

Charts: @Not_Jim_Cramer and Bloomberg





Gold Coin Sales Surge 306% YoY In August, Silver Sales More Than Double

Courtesy of ZeroHedge. View original post here.

Submitted by GoldCore.

DAILY PRICES
Today’s Gold Prices: USD 1140.00, EUR 1010.73 and GBP 746.46 per ounce.
Yesterday’s Gold Prices: USD 1141.90, EUR 1012.23 and GBP 744.10 per ounce.
(LBMA AM)

Silver in USD – 5 Years

Stocks in the U.S., Asia and this morning in Europe had seen a renewed rout as concerns about China’s slowing economy and the global economy badly impacts financial markets.

The Standard & Poor’s 500 Index began September badly with its third-biggest loss of 2015 as the sharp falls that erased $5.7 trillion from the value of shares globally in August continued. 

Oil tumbled the most in two months after a 27% gain in the previous three days. Emerging assets plunged and a measure of the risk premium on high-yield debt jumped.

Demand for safe haven assets such as Treasuries, gold and silver remerged. Despite a month over month decline in coin sales amid volatility in the metals market, the U.S. Mint posted solid coin sales in August.

According to the latest data on the US Mint’s website, sales of the American Eagle Bullion gold coin amounted to 101,500 ounces last month, down 40% from the 170,000 ounces sold in July. However, year-over-year, coin sales rose 306% when compared to the 25,000 ounces sold in August 2014 – see the full article in Commentary here.

IMPORTANT NEWS

Gold extends rally, Chinese frailty sinks equities – The Bullion Desk
US Mint’s American Eagle Bullion Sales Rally in August – CoinNews.net
Gold at One-Week High on Weaker Equities and Dollar’s Retreat – The Wall Street Journal
After a 39% Rout, China Stocks Are Still Double Hong Kong Prices – Bloomberg
Asian shares fall for third day on global growth concerns – Reuters

IMPORTANT COMMENTARY

Gold Coin Sales Surge 306% YoY In August, Silver Sales More Than Doubled – Gold-Eagle
U.S. Gold Production Finally Hit Hard Due To Low Price – GoldSeek
Keiser Report: Stop What’s That Sound? Falling Markets! – Max Keiser
Money—How to Get It and Keep It – Casey Research
‘Death cross’ patterns spread to all corners of the stock market – MarketWatch

Read more News and Commentary

Download Essential Guide To Storing Gold Offshore





Bill Gross: “Go To Cash”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Autghorted by Bill Gross via Janus.com,

Size does matter you know. There are basketball players, NFL linemen, and the more popular but unmentionable allusion to the bedroom that makes my point, although the older one gets, the more irrelevant playing basketball and football become, if you get my drift. More interesting to me than any of the above, however, is the application of size and its relevance to the animal kingdom. Randy Newman raised eyebrows and a goodly number of hackles three decades ago with his “Short People” ditty – “Short people got no reason, short people got no reason to live” he crooned, and the vertically disadvantaged got mad and the tall people laughed and the world went about its business of favoring size – in this case – when measured from head to toe. Mr. Newman’s parody was so radical that I suspect he was asking us to think, as opposed to expressing an opinion, and if so, he was and may still be more of a Buddhist than a bigot. But I speak not about the size of people here – but to animals of the more ordinary kind.

I am not what you might think of as an animal lover. I’ve had some great dogs and a rather well publicized cat by the name of “Bob”, but on the whole I’ve become more of a life respecter than an inveterate petter of felines or canines. But there’s something about the size of a living thing that increases or diminishes my sense of caring and I’m not sure why that should be. Let’s start at the top of the size chart and see if you share this same bias: Elephants, giraffes, whales. Good vibes? Of course. Who couldn’t love them? They’re either smart, elegant with those long necks, or symbolic of benign power and strength. Would you ever want to kill one? Almost unanimously you’d answer in the negative assuming your name isn’t Captain Ahab or you don’t run a safari company under the name “The Great White Hunter.” But now let’s go small: ants, snails, worms. Feelin’ good now? Not so much I suppose, since almost all of us have eliminated a bunch of these guys with nary an afterthought. Yeah, I know they get into our kitchens and slime across…
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ADP Misses Again, Drops YoY For 7th Month In A Row

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Following its disapppointing tumble in July (having missed expectations for 6 of the last 7 months), August ADP printed another miss at 190k against expectations of a 200k rise with last month revised lower. As the energy sectyoir continues to bleed jobs at a rate of 10k per month, ADP's Zandi notes that manufacturing jobs growth is all auto-related (which is extremely worryinmg given the size of inventories). Job groiwth was largely driven by small businesses (85k) as opposed to large business (40k) with Service-producing goods drastically outpacing manufacturing job growth (173k to 17k). Perhaps most notably, ADP jobs data has dropped YoY for the last months

Not exactly escape velocity…

But the year over year data is ugly…

Total Employment

Historical Trend

Change By Selected Industry

The full breakdown:

The breakdown by job type:

  • Goods-producing employment rose by 17,000 jobs in August, more than double the 7,000 gained in July. The construction industry added 17,000 jobs in August, up from 15,000 last month. Meanwhile, manufacturing added 7,000 jobs in August, after gaining only 1,000 in July.
  • Service-providing employment rose by 173,000 jobs in August, up slightly from 170,000 in July. The ADP National Employment Report indicates that professional/business services contributed 29,000 jobs in August, up 3,000 from July. Trade/transportation/utilities grew by 28,000, down from 34,000 the previous month. The 13,000 new jobs added in financial activities was a gain from last month’s 10,000.

Mark Zandi, chief economist of Moody’s Analytics, said,

“Recent global financial market turmoil has not slowed the U.S. job market, at least not yet. Job growth remains strong and broad-based, except in the energy industry, which continues to shed jobs. Large companies also remain more cautious in their hiring than smaller ones.”

<br /> ADP National Employment Report: Private Sector Employment Increased by 190,000 Jobs in August<br /> ” border=”0″ height=”1598″ src=”<a href=http://www.adpemploymentreport.com/2015/August/NER/images/infographic/ma…” width=”598″ />Charts: Bloomberg





What Declining Global Reserves Mean For Bond Yields: Goldman’s Take

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Don’t look now, but suddenly, the dynamic we began warning about last November is the talk of the financial universe and it only took one earth-shattering currency devaluation and the liquidation of a few hundred billion in US paper in the space of just two weeks to wake everyone up. 

We have, as Deutsche Bank put it on Tuesday, reached the end of the “Great Accumulation” as slumping Chinese growth, plunging crude, and an imminent Fed hike have put enormous pressure on emerging economies’ accumulated stash of FX reserves and that means that buyers of USD assets are becoming sellers at the expense of global liquidity and the perpetual bid for some core paper. 

Of course this didn’t just happen in the last two weeks as (almost) everyone would have you believe. This began quite some time ago and the death of the petrodollar was in many ways the starting pistol for what Deutsche Bank has correctly identified as an epochal shift. 

Well, for anyone who’s lost sleep wondering what Goldman thinks, you can relax, because the “smartest” guys in the room – whose former employee at the ECB will be watched closely this week for any possible response to the China turmoil – is out with their take, excerpts from which you can find below (note the multiple nods to the fact that this began with the dying petrodollar).

*  *  *

From Goldman

Falling FX Reserves and Rising Bond Yields: Some Macro Considerations

There is increasing focus among investors on the decline in FX reserves across Emerging Markets, and in China in particular, and the negative impact this could have on government bonds in general, and more specifically on US Treasuries.

We view such dynamics as part of an ongoing structural shift in international trade and capital flows which will interact with the increase in bond yields in the advanced economies embedded in our baseline forecasts. On balance, the decline in foreign official sector reserves represents a headwind for government bonds over the medium term.

When assessing the near-term impact on fixed income resulting from these forces, however, we would advise against following a narrow flow-of-funds approach, as the correlation between changes in official sector flows (which are available only with a lag) and changes in yields is unstable,…
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Frontrunning: September 2

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

  • Markets on edge as policymakers flex muscles (Reuters)
  • European shares recover from rough ride (Reuters)
  • For Stock Markets, the Moment When Humans Matter (WSJ)
  • Puerto Rico’s PREPA, bondholders have framework for deal (Reuters)
  • Hundreds of migrants protest at Budapest station, want to go to Germany (Reuters)
  • New Whale Seen Moving Tokyo Markets (BBG)
  • Putin’s Got a New Problem With China (BBG)
  • Judge gives go-ahead to Uber lawsuit (FT)
  • Morgan Stanley issues ‘full house’ buy alert for stocks (Telegraph)
  • Older, Heavier Americans Fuel a $4 Billion Knee Replacement Market  (BBG)
  • British Employers Who Skirt ‘Living Wage’ Will Face Tough Fines, Cameron Says (NYT)
  • Jeb Bush Takes Gloves Off, Attacks Donald Trump Directly (WSJ)
  • Fuel Ships Take 4,000-Mile Africa Detour as Oil Prices Plunge  (BBG)
  • America’s Most Unlikely Energy Project Is Rising From a Louisiana Bayou (BBG)
  • Iran nuclear deal backers near votes to protect pact in U.S. Congress (Reuters)
  • A Secretive Agency Hunts for China’s Crooked Officials Worldwide  (BBG)

Overnight Media Digest

WSJ

- After weeks of enduring rival Donald Trump’s attacks, Jeb Bush released an Internet video aimed at trying to muscle his way back to the front of the pack. (http://on.wsj.com/1IH1IZz)

- A string of messy market openings in recent weeks has reinvigorated a debate about the relative effectiveness of humans in the stock trade. (http://on.wsj.com/1JAm5M2)

- A federal judge has granted class-action status to a lawsuit claiming Uber Technologies treats its drivers like employees. If the class-action suit succeeds, it could force Uber to pay drivers for health insurance, workers’ compensation and work expenses such as tolls, fuel and car repairs. (http://on.wsj.com/1KqaDGp)

- China is imposing new controls to prevent too much money from leaving the country, with lenders beefing up internal checks on foreign-exchange conversions and regulators aiming to rein in illegal money-transfer agents. (http://on.wsj.com/1JvQSHu)

FT

The Bank of Portugal has failed to reach an agreement with China’s Anbang Insurance Group Co in exclusive talks over the sale of state-rescued Novo Banco and will now open talks with the second-placed bidder.

A Swiss court confirmed Saint-Gobain did not have to launch a mandatory public takeover bid for all the shares of Swiss chemical firm Sika…
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China Stocks Fail To Close Green Ahead Of National Holiday Despite Constant Intervention, US Futures Rebound

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Since today was the last day of trading for Chinese stocks this week ahead of the 4-day extended September 3 military parade holiday to mark the 70th anniversary of the allied victory over Japan, and since Chinese stocks opened to yet another early -4.7% rout coupled with the PBOC’s biggest Yuan strengthening since 2010 as we observed earlier, there was only one thing that was certain: massive intervention by the Chinese “National Team” to get stocks as close to green as possible.

Sure enough they tried, and tried so hard the “hulk’s” green color almost came through in the last hour of trading …

…. yet, despite the symbolic importance of having a green close at least one day this week ahead of China’s victory over a World War II foe, Beijing was unable to defeat the market even once in the latest week…

This takes places as China has thrown the proverbial kitchen sink at the market and achieved nothing. As a reminder, the FT reported yesterday in their most recent desperation scramble, four Chinese regulatory agencies issued a joint statement “encouraging” listed companies to hand out more dividends, buy back their own shares and carry out more mergers and corporate restructurings to boost slumping share prices. The statement from the finance ministry and the regulators in charge of securities, banking and state-owned assets was issued after Beijing’s decision to end its large-scale but unsuccessful programme of direct stock purchases.

State-owned funds and financial institutions have spent more than $200bn since early July trying to prop up the market but benchmark indices have still fallen 40 per cent from their peak of early June. The government has decided to abandon these share purchases and concentrate instead on boosting the slowing real economy, “improving the quality of the equity market” and arresting people deemed to be manipulating the market. In their statement, the four agencies
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Phil's Favorites

Phil Davis on China, Black Monday, Commodities & Technical Analysis

In case you missed Phil's appearance on BNN last week, be sure to watch this excellent video below!

Phil spoke with Kim Parlee on MoneyTalk on Aug. 26 about his call for a 10% correction, China's stock market collapse, commodities, and technical analysis, including the 5% rule and the difference between a bounce and a rally. Watch Phil on Business News Network's Money Talk

Phil is a regular guest on MoneyTalk, Canada's premier personal finance show hosted by Kim Parlee.

...

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Zero Hedge

Oil Triple Whammy: Inventory Build, Iran Nuke Deal Has Votes, & China Gives Venezuela $5 Billion Loan

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Following last night's epic inventory build., according to API, DOE has reported a 4.7mm barrel build but US crude production pluinged 1.4% (lowest since March). However, ths oil complexc has been hit by two other 'issues' this morning as Obama captures the votes he needs to confirm the Iran nuclear deal (guaranteeing more oil supply) and China encumbers more Venezuelan oil ($5bn loan) allowing them to keep pumping at below-cost levels. The reaction for now is notable selling pressure...

Inventory Builds most in 5 months...

...



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Kimble Charting Solutions

Long-Term bull market still alive, trend support is where?

Courtesy of Chris Kimble.

The S&P 500 is now down around 7% on the year. Is the very long-term bull market still in play? Yes it is!!!

The chart below looks at the NYSE Composite on a monthly basis, dating back to 1965.

CLICK ON CHART TO ENLARGE

As you can see, since the mid 60’s, the NYSE composite has remained inside of rising channel (A). The last time the top of the channel was touched was in the late 1990’s and the last time the bottom of the channel was touched took place back in 2009.

Despite the quick down turn of late, this long-term rising channel remains in ta...



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Insider Scoop

Look Beyond Q3 For This Digital Marketing Leader

Courtesy of Benzinga.

Related ADBE Benzinga's Top Upgrades Baird: Now's The Time To Buy Adobe The Vetr community has upgraded $ADBE to 4.5-Stars. (Vetr)
  • Shares of Adobe Systems Incorporated (NASDAQ: ADBE) have risen over 5 percent year-to-date.
  • Oppenheimer’s Brian Schwartz has initiated coverage of Adobe Systems with a Perform rating.
  • While expr...


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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Americans' confidence in the economy has plunged to an 11-month low (Business Insider)

Americans' confidence in the economy continues to slide.

Who Crashed China's Stock Market? (The Atlantic)

China’s stock markets continue to stumble, despite the massive stimulus that the government has unleashed to prop them up. The Shanghai benchmark index fell by 1.23 percent Tuesday, after closing down slightly Monday. The index has fallen by nearly 40 percent from its mid-June peak.

...



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Chart School

Distribution Selling Returns

Courtesy of Declan.

After the late recovery last week, sellers again made markets their home. Sizable losses were accompanied with higher volume distribution, although volume was down on earlier panic.  Another pass at August lows looks likely.

The S&P is again heading to the 10% 200-day MA envelope. Relative performance is shifting away from Large Caps to more speculative indices, which is bullish in a rising market, but in a falling market suggests a lack of sanctuary.


The Nasdaq is also in the early stages of a retest of the August low. Technicals are weak, although stochastics crept above the bullish mid-line, but not enough to suggest ...

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All About Trends

Mid-Day Update

Reminder: David 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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OpTrader

Swing trading portfolio - week of August 31st, 2015

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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Sabrient

Sector Detector: Finally, market capitulation gives bulls a real test of conviction, plus perhaps a buying opportunity

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

Courtesy of Sabrient Systems and Gradient Analytics

The dark veil around China is creating a little too much uncertainty for investors, with the usual fear mongers piling on and sending the vast buy-the-dip crowd running for the sidelines until the smoke clears. Furthermore, Sabrient’s fundamentals-based SectorCast rankings have been flashing near-term defensive signals. The end result is a long overdue capitulation event that has left no market segment unscathed in its mass carnage. The historically long technical consolidation finally came to the point of having to break one way or the other, and it decided to break hard to the downside, actually testing the lows from last ...



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ValueWalk

Some Hedge Funds "Hedged" During Stock Market Sell Off, Others Not As Risk Focused

By Mark Melin. Originally published at ValueWalk.

With the VIX index jumping 120 percent on a weekly basis, the most in its history, and with the index measuring volatility or "fear" up near 47 percent on the day, one might think professional investors might be concerned. While the sell off did surprise some, certain hedge fund managers have started to dip their toes in the water to buy stocks they have on their accumulation list, while other algorithmic strategies are actually prospering in this volatile but generally consistently trending market.

Stock market sell off surprises some while others were prepared and are hedged prospering

While so...



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Digital Currencies

Bitcoin Battered After "Governance Coup"

Courtesy of ZeroHedge. View original post here.

Naysyers are warning that the recent plunge in Bitcoin prices - from almost $318 at its peak during the Greek crisis, to $221 yesterday - is due to growing power struggle over the future of the cryptocurrency that is dividing its lead developers. On Saturday, a rival version of the current software was released by two bitcoin big guns. As Reuters reports, Bitcoin XT would increase the block size to 8 megabytes enabling more transactions to be processed every second. Those who oppose Bitcoin XT say the bigger block size jeopardizes the vision of a decentralized payments system that bitcoin is built on with some believing ...



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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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Promotions

Watch the Phil Davis Special on Money Talk on BNN TV!

Kim Parlee interviews Phil on Money Talk. Be sure to watch the replays if you missed the show live on Wednesday night (it was recorded on Monday). As usual, Phil provides an excellent program packed with macro analysis, important lessons and trading ideas. ~ Ilene

 

The replay is now available on BNN's website. For the three part series, click on the links below. 

Part 1 is here (discussing the macro outlook for the markets) Part 2 is here. (discussing our main trading strategies) Part 3 is here. (reviewing our pick of th...

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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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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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