Guest View
User: Pass: | become a member
Author Archive for Zero Hedge

Stocks Slide, Gold Soars On Weak Earnings, Geopolitical Fears

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Despite an impressive ramp by USDJPY in the last two hours of trading (thank you Nomura and BOJ) whose purpose was to get the DE Shaw and all other correlation algos to push spoos higher, today’s trifecta of the ugly guidance by Visa (which dominated the DJIA), very ugly earnings by Amazon (which dominated the Nasdaq) and the CME ES margin hike just proved too much, and while Friday may have been the new Tuesday following 11 “green” DJIA Fridays in a row, today’s 123 point drop stopped the trend before lucky 12 out of 12.

As can be seen on the chart below, after hitting daily all time highs for several consecutive days, today’s drop pushed the S&P back to levels last seen during last week’s MH17 scare. A tactical near-term downgrade of stocks by Goldman in the last few hours of trading (following David Kostin’s upgrade to his S&P price target two weeks ago) probably didn’t help although (actually it helped since stocks rose since the time the Goldman report hit mailboxes) it is amusing that someone still thinks Goldman sellside research still has any sway (as opposed to merely indicating what the Goldman prop desk is not doing).

 

And while today was otherwise a rather mundane day, what stood out was an impressive ramp in gold toward the end of trading, and especially in the minutes before the close, which we attribute to rising geopolitical fears as both the situation in Ukraine and in Israel are getting worse by the minute.

In short, this week was largely a wash which makes sense ahead of next week’s data slam when we get both the all important NFP and Q2 GDP prints. While NFP will almost certainly be a continuation of the part-time jobs soaring trend seen in recent months, the biggest question is whether Q2 GDP will print above or below 2.9%: if below, then the entire first half of 2014 will be negative, which according to some purists is equivalent to a technical recession. A bigger question is what climatic event will the scapegoat crew blame a collapse in Q2 GDP on,





Africa’s Largest Refinery Finds 2.7 Tons Of Gold “Missing” After Computer System Upgrade

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

It’s one thing to implicitly admit that there is a physical gold shortage and as a result nations – such as Germany – are unable to repatriate their physical gold held in the safe and trusted confines 90 feet below the NY Fed, gold which may or may not be there and has likely been leased out exponentially to cover paper shorts by virtually every BIS-overseen central bank (and the BIS paper gold selling team itself of course). It is something totally different to corzine, as in vaporize, 87,000 ounces of physical gold, some 2.7 tons, and blame it on a computer upgrade glitch. Which is precisely what Rand, Afrrica’s largest refinery and processor of about a third of the world’s gold since 1920, has done after it “discovered” that $113 million in precious metal was missing after “adopting a new computer system.”

Bloomberg reports that the refinery in Germiston, a town 20 kilometers east of Johannesburg, has 87,000 ounces of physical gold less than the amount present in its accounting records after “implementation difficulties” with the new system, the company said in a statement today. That’s worth about $113 million at today’s price of $1,296 an ounce.

Taking a page out of China’s infinite rehypothecation scheme, the South African refiner essentially told its investors, most of whom are gold miners, to step up and replenish the missing metal or else investors may come asking questions about their own reported gold holdings. And, it succeeded.

Rand Refinery’s shareholders, including AngloGold Ashanti Ltd. (ANG), Sibanye Gold Ltd. (SGL) and Harmony Gold Mining Co. (HAR), agreed to lend the company 1.2 billion rand to help make up the difference.

Laughable excuses aside, those curious where the gold may have gone should probably ask the former CEO: “Howard Craig resigned as chief executive officer in May and has been replaced by Mark Lynam, who is being assisted by management consultant Accenture Plc in sorting out the issue.”

However, just like in China, it appears nobody has any interest in actually digging deeper:

The miners, customers of the refinery, have received the prices they were expecting, leading them to conclude it’s most likely an accounting problem rather than theft, James Wellsted, a


continue reading





Based on the Non-Massaged Data, the US is Back in Recession

Courtesy of ZeroHedge. View original post here.

Submitted by Phoenix Capital Research.

Beneath all of the bogus economic data, the US economy is tanking again.

 

One of the biggest games played by the bean counters in Washington in the US is the overstatement of GDP growth by understating inflation.

 

Consider this simple example. Let’s say that the US GDP grew by 10% last year. Now let’s say that inflation also grew by 10%. In this scenario, real inflation adjusted GDP growth was ZERO. However, announcing ZERO GDP growth is a major problem politically.

 

So what do the Feds do? They claim that inflation was just 8%, and BOOM you’ve got 2% GDP growth announced for a year in which real GDP growth was actually zero.

 

This game is played all the time via a metric called the GDP “deflator.” Technically what this is meant to do is remove the effects of inflation from the GDP growth numbers to show what real growth was.

 

However, what it actually ends up being is an accounting gimmick that allows the numbers to overstate GDP growth.

 

For this reason, when I look at the US economy’s growth I prefer to use its nominal GDP numbers. These numbers do not include a deflator metric. As such they’re much closer to showing the actual growth as opposed to the gimmicked “real GDP” numbers.

 

With that in mind, take a look at the chart below:

 

 

As you can see, the US economy is once again slowing down rapidly with a sub-4 reading. I’ve circled all of the other times the US economy has registered a reading like this in the last 40 years.

 

ALL of them were periods that were later identified as recessions.

 

So the Fed is once again facing a recession… at a time when it has already cut interest rates to zero and engaged in just about every monetary loosening imaginable. To top it off, inflation is already appearing due to the Fed’s previous actions.

 

There is a term for slow growth and high inflation: it’s stagflation. Sure it doesn’t show up in the official data. But then again, when was the last time reality did show up there?

 

This concludes this article. If you’re looking for the means of protecting your portfolio from the coming…
continue reading





No Inflation Friday: Dollarized Panama Issues Price Controls For Basic Goods

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Simon Black of Sovereign Man

Dollarized Panama Issues Price Controls For Basic Goods

Less than four weeks after starting his new job, Panama’s President Juan Carlos Varela already has a serious challenge to deal with: empty grocery shelves.

This is largely a self-inflicted wound that was bound to happen.

Fresh on the heels of his victory in May, the then President-elect announced that one of his first orders would be to regulate prices for staple food products.

He followed through on his promise, establishing price controls on certain brands of roughly two dozen items like chicken, rice, eggs, and bread.

And within a matter of weeks, many grocery store shelves are already empty, at least for the regulated items.

It’s not quite Venezuela or Cuba where it can be downright impossible to buy a roll of toilet paper. But it’s more proof that price controls almost always backfire.

The larger issue here is why the Panamanian government is controlling prices to begin with. The answer is simple: inflation.

According to the Panamanian government, the price of basic foods rose 4.1% from April 2013 to April 2014.

Over the last five years, in fact, food prices have risen more than 24%.

And when average wages are little more than a few hundred dollars a month, a 24% increase in food prices really hurts.

Now, inflation isn’t a particularly unusual phenomenon in Central America, or in developing countries in general.

But what sets Panama apart is that the country is dollarized.

In its entire 111-year history as a sovereign nation, in fact, Panama has never issued its own currency.

Locals and foreigners alike pay US dollars for goods and services across Panama just as you would in Houston, Jacksonville, or Las Vegas.

This means that the country is subject to all the whims and consequences of US monetary policy; when the Fed conjures money out of thin air, the negative effects are quickly exported to Panama.

Yet while it suffers all of the downside of quantitative easing, Panama enjoys very little of the upside.

Of the jobs that the Fed claims they have created by printing $3.7 trillion over the last few years, zero of those have ended up in Panama.

Not to mention, the Panamanian government…
continue reading





High Yield Credit Market Flashing Red As Outflows Surge

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

As we have been highlighting for a few weeks, something is rotten in high-yield credit markets. This week, the mainstream media is starting to catch on as major divergences in performance (high-yield bond spreads are 30-40bps off their cycle tights from just prior to MH17 even as stocks rally to new record highs) and technicals weaken. However, as BofA warns, flows follow returns and this week saw the biggest outflows from high-yield funds in more than a year. Investment grade bonds saw notable inflows as investors chose up-in-quality, rather than reach-for-yield, for the first time in years: equity investors, pay attention.

 

High yield credit markets have been overvalued for a record period of time

 

On Tuesday, analysts at Ned Davis Research recommended that investors begin to sell high-yield bonds, partly because they look pricey and partly because performance has been flagging. “Investors are no longer being compensated for the additional risk in high-yield bonds,” they wrote.

High yield credit markets are majorly diverging from stocks…

“Geopolitical risk is causing a pause,” said Frank Ossino, senior portfolio manager at Newfleet Asset Management in Hartford, Conn., which oversees $12.9 billion. Investors tend to flee riskier assets during times of turmoil.

High yield credit markets are suffering major outflows…

 

Outflows from high yield funds and ETFs accelerated last week to $2.46bn following a sizable $1.85bn outflow in the prior week. Both of these outflows are the largest since the “taper tantrum”episode in the summer of last year.

“We’re not seeing massive outflows yet, but at some point that’s going to change,” warned Phil Blancato, chief executive at Ladenburg Thalmann Asset Management, which oversees about $2 billion.

He said he is steering clear of high-yield exchange-traded funds in large part due to concerns about how they will fare in a downturn.

*  *  *

Between a sudden shift to a preference for “strong” balance sheet companies over “weak” balance sheet companies (the end of the dash for trash trade), and this rotation from high-yield to investment-grade, it is clear that investors are positioning defensively up-in-quality ending the constant reach-for-yield trade of the last 5 years.

Why should ‘equity’ investors care? The last few years’ gains in stocks have been thanks massively to record amounts of buybacks (juicing EPS and…
continue reading





Israel Cabinet Unanimously Rejects John Kerry’s Gaza Truce Proposal

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Over the past few days, John Kerry flew to Egypt, where among other things, he proposed a weekling Gaza Truce. Alas, that was one taxpayer funded trip for the Secretary of State flushed down the drain:

  • ISRAEL CABINET UNANIMOUSLY OPPOSED KERRY PLAN: CHANNEL 1
  • ISRAEL’S SECURITY CABINET HAS REJECTED GAZA CEASEFIRE PROPOSAL, SEEKS MODIFICATIONS -GOVT SOURCE

AP had some more details:

Israel on Friday rejected a Gaza ceasefire proposal presented by US Secretary of State John Kerry, Israeli public television reported.

 

The security cabinet has unanimously rejected the ceasefire proposal of Kerry, as it stands,” Channel 1 said, adding that ministers would continue discussing it.

Or, largely just as was expected (because even Bloomberg is now reporting how the entire middle east is mocking John Kerry). But perhaps the reason why gold appears to have suddenly found a bid is the following:

  • JOHN KERRY TO SPEAK FROM CAIRO LATER TODAY

Because just when you thought things couldn’t get any worse, John Kerry opens his mouth…





Pentagon Says Russia Preparing To Transfer “Powerful Weapons” To Ukraine

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

No red lines, no YouTube clips, no “satellite images” of WMD this time: just more “straight to propaganda” speculation by the Pentagon. From Reuters:

The Pentagon said on Friday the transfer of heavy-caliber multiple-launch rocket systems from Russia to Ukrainian separatists appeared to be imminent with the arms close enough to the border they could be handed over “potentially today.”

 

“We have indications that the Russians intend to supply heavier and more sophisticated multiple-launch rocket systems in the very near future,” said Army Colonel Steve Warren, a Pentagon spokesman, adding that the weapons were in the over-200mm range.

 

Warren indicated the weapons had been seen getting closer to the border and the Pentagon believed a transfer was imminent and could happen “potentially today.”

 

“We believe that they are able to transfer this equipment at any time, at any moment,” he said.

So Russia “could”, potentially today” transfer rocket launchers to Ukraine. But wait, wasn’t the same Pentagon reporting hours ago that Russia is now, with the entire world clearly watching, no longer even pretending to be not engaged and is firing at Ukraine forces directly from its own territory? Why would they stop now? And surely with every US spy satellite trained at east Ukraine, the moment this happens it will be blasted to every media outlet. Right?

More:

A multiple-launch rocket system is a wheeled or tracked vehicle mounted with multiple tubes capable of firing a half dozen or more guided or unguided rockets in quick succession at targets scores of miles (km) away. The rockets are generally 100mm to 300mm, with those over 200mm in the heavier-caliber category.

 

“We’re very concerned with the quantity and the capability of weapons flowing from Russia into the Ukrainian separatists’ hands,” Warren said.

 

“There has been a continuous flow over the last several weeks of weapons and equipment from Russia to Ukraine,” he said, noting that the “most egregious example” was a column of more than 100 vehicles crossing the border.

 

The Pentagon’s assessment that a transfer of heavy weaponry was imminent came as Russian authorities accused Ukraine of firing a volley of mortar rounds across the frontier into Russia on Friday while a group of


continue reading





David Einhorn On The M&A Bubble And “Dreams” As An Investment Thesis

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Yesterday, we were beyond amused when we reported that the market’s response to rumors of Zillow’s $2 billion take over of Trulia was not only to push Trulia stock higher by $500 million but send the market cap of incomeless, EBITDAless Zillow higher by $1 billion. It appears we are not the only ones fascinated by the market’s reaction to every M&A announcement, which is to send not only the target but the acquiror stock soaring. One other such person is David Einhorn who laments precisely this bubblyness in his just released letter to investors, saying that “takeover season has returned and in a new twist, the buyers’ stock prices are also advancing in response to announced deals, enabling companies, including some of our shorts, to see gains as acquirers – even of other troubled companies.”

He proceeds to give several examples of how his shorts have worked against him, a trend which as we reported first in 2012 will continue indefinitely under a centrally-planned regime in which the Fed is the Chief Risk Officer of the market, and where no price declines are allowed, and thus the need to hedge (which means that going long the most hated, vile, worthless companies will, sadly, by and large continue to be a winning strategy).

Still, with a return of 5.2% in Q2 and 7.1% YTD, at least Greenlight is only barely underperforming the market, something that 90% of his hedge fund peers can only dream about.

Here are Einhorn’s full thoughts on the M&A bubble:

Costly takeovers of our shorts appear to be a cyclical phenomenon: We went from 1996-2003 without incurring a single material loss due to a takeover. Then in 2006-2007 we had a number of our shorts taken over in rapid succession, the most costly being Medtronic’s $4.2 billion acquisition of Kyphon at a 32% premium over Kyphon’s already lofty share price. In reviewing historical takeovers of our shorts where we lost money, almost none proved to be good deals for the acquirers.

Well, yes: it’s called forced capital misallocation for a reason.

Things got quieter again for a few years but now takeover season has returned and is again causing losses in our


continue reading





Man Carrying Ebola Virus In World’s Fourth Most Populous City, Dies In Quarantine

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Update: It has been confirmed that the Liberian man who died in quarantine, did in fact have Ebola. Cue panic mitigation.

* * *

While the state of Sierra Leone is scrambling to locate the missing woman who is “on the loose” in the capital Freetown with a documented case of Ebola, we can at least close the book on the other developing story we reported yesterday involving a person who collapse in the international airport of Nigeria’s megacity, Lagos, and who was being tested for Ebola. The man has died.

From Reuters:

A Liberian man suspected to have Ebola virus has died in quarantine in Lagos, Nigeria, a Nigerian official in Geneva told Reuters on Friday.

 

The man, who collapsed on arrival at the airport in Nigeria’s commercial centre, Lagos, on Thursday, was being kept in isolation by authorities and had not entered the mega-city of 21 million people, he said.

 

“While he was in quarantine he passed away,” the official said. “The Liberian came in and he was quarantined at the airport and not allowed to go to the city. While he was quarantined he passed away. Everyone who has had contact with him has been quarantined,” he told Reuters. 

 

If confirmed, the Liberian man would be the first case on record of one of the world’s deadliest diseases in Nigeria, Africa’s biggest economy and with 170 million people, its most populous country. However, Ebola is one of a number of viruses that can cause hemorrhagic fever. 

It is unclear if he passed away from natural causes, such as being beaten to death to avoid any loose ends, or because the Ebola virus he was carrying was in very late stage.

No matter the open questions, we are confident that there is nothing to worry about and that the risk of anyone else encountering the man (who may or may not have died from Ebola 24 hours later) while at the airport, and certainly flying off to non-African destinations, is below zero. In fact, we are confident that no matter what the story is, it is bullish for risk assets and certainly for global healthcare companies.





Number Of French Jobless Rise To New Record

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

With “recoveries” like these who needs staged, false flag conflicts and wars covering over 10% of the globe? Well, socialist France for one which moments ago announced that total jobless rose from 3.389 million to 3.398 million, a new record high. Surprisingly, while the year-over-year unemployment change for people under 25 declined by 3.1%, it was workers 25-49 which saw a material 3.3% increase in joblessness, but it was workers aged 50 and older that saw a veritable surge in unemployment, rising by 11.5% from a year ago. Surely, just like in the US, this is due to young people retiring in droves.

Reuters reports:

The number of people without a job in France rose in June to yet another record in the latest blow to President Francois Hollande’s efforts to get unemployment falling.

The Labour Ministry said the jobless total in mainland France rose by 9,400 last month to 3,398,300, up 0.3 percent over one month and 4.0 percent over one year.

Hollande has seen his popularity collapse to record lows for a French president as he failed to live up to promises to get unemployment declining.

The Socialist leader is counting on plans to phase out 30 billion euros ($40.29 billion) in payroll tax on companies to get them investing and hiring.

In one ray of light for the job market, the Labour Ministry said the number of job offers received by the state employment agency had risen 5.4 percent in June from May.

The good news for France, which like Venezuela is on its way to becoming another socialist utopia, is that it sill has headlines like these to look forward to:


continue reading





 

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!

 
 

Phil's Favorites

Who's Winning the War in Ukraine? Answer May Shock You!

Courtesy of Mish.

Here's the question, not of the day, but of the month: Who's Winning the War in Ukraine?

That may sound like a simple question, but it isn't.

That question leads to a second question "In whose eyes?" It also depends on the definition of "war". And it also depends on the definition of "win". And finally it depends on which media source you believe.

Military Aspect

From a military aspect, I have seen reports from both sides. The Western media portrays Ukraine on the march with the rebels surrounded, and losing ground. Is that accurate reporting?

I will let you be the judge. Please consider this video released on Friday.



The caption reads "??? ??? ???????? ?? 72-? ??????? ??? 2...



more from Ilene

Zero Hedge

If Americans Knew What Was Happening In Israel ...

Courtesy of ZeroHedge. View original post here.

Submitted by George Washington.

If my fellow Americans understood the history of Israel and Palestine, their views would change overnight … and they would demand that Israel no longer be given unconditional support and blank checks to do whatever they want:

  • ...


more from Tyler

Insider Scoop

Deckers Outdoor Conference Call Highlights

Courtesy of Benzinga.

Related DECK Deckers Trends Up On FQ2 Beat; Analysts Upgrade, Boost Targets Benzinga's Top Upgrades Ex-KPMG Partner Sentenced for Insider Trading (Fox Business)

Deckers Outdoor (NYSE: DECK) reported its first-quarter earnings on Thursday. Shares of the company are up more than six percent...



http://www.insidercow.com/ more from Insider

Chart School

5 Things To Ponder: Gates & Houses

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

"The world is all gates, all opportunities, strings of tension waiting to be struck." - Ralph Waldo Emerson

This past week was inundated with a variety of financial and geopolitical events that had me scrambling to say abreast of the issues. However, there was one issue in particular that was obscured by the news flow of MH-17 and Israel, a ruling by the S.E.C. to put "gates" on mutual fund redemptions.

"This past Wednesday, the Securities and Exchange Commission voted 3-2 to require institutional money market mutual funds to adopt a floating net asset value. The SEC also imposed liquidity fees and redemption gates, changes that muni market groups have said will hurt the market as well as state and loc...



more from Chart School

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...

more from David

Digital Currencies

BitLicense Part 1 - Can Poorly Thought Out Regulation Drive the US Economy Back into the Dark Ages?

Courtesy of Reggie Middleton.

An Op-Ed piece penned by Veritaseum Chief Contracts Officer, Matt Bogosian

This past weekend (despite American Airlines' best efforts), Reggie and I made it to the Second Annual North American Bitcoin Conference in Chicago. While there were some very creative (and very ambitious) ideas on how to try to realize the disruptive Bitcoin protocol, one of the predominant topics of discussion was New York Superintendent of Financial Services Benjamin Lawsky's proposed Bitcoin regulations (the BitLicense proposal) - percieved by many participants at the event as an apparent ...



more from Bitcoin

Option Review

Starbucks Options Volume Rises Ahead Of Earnings After The Bell

Volume in Starbucks options is running approximately three times the average daily level for the stock as of 1:15 p.m. ET ahead of the company’s third-quarter earnings report after the close. Shares in the name are up roughly 1.0% just before midday to stand at $79.95. Traders of SBUX options today are more active in calls than puts, with the call/put ratio hovering near 2.0 as of the time of this writing. Much of the volume is in 25Jul’14 expiry options contracts, most notably in the $80 and $83 strike calls which have traded roughly 3,350 and 2,550 times respectively and in excess of existing open interest levels in both strikes. A portion of the volume in the $80 and $83 calls appears to be part of a spread trade.

...

more from Caitlin

Sabrient

Sector Detector: Bulls remain unfazed by borderline Black Swans

Courtesy of Sabrient Systems and Gradient Analytics

Despite a highly eventful week in the news, not much has changed from a stock market perspective. No doubt, investors have grown immune to the daily reports of geopolitical turmoil, including Ukraine vs. Russia for control of the eastern regions, Japan’s dispute with China over territorial waters, Sunni vs. Shiite for control of Iraq, Christians being driven out by Islamists, and other religious conflicts in places like Nigeria and Central African Republic. But last Thursday’s news of the Malaysian airliner tragically getting shot down over Ukraine, coupled with Israel’s ground incursion into Gaza, had the makings of a potential Black Swan event, which in my view is the only thing that could derail the relentless bull march higher in stocks.

Nevertheless, when it became clear that the airline...



more from Sabrient

OpTrader

Swing trading portfolio - week of July 21st, 2014

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 ...



more from OpTrader

Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's the latest Stock World Weekly. Please use your PSW user name and password to log in. (You may take a free trial here.)

#452331232 / gettyimages.com ...

more from SWW

Market Shadows

Danger: Falling Prices

Danger: Falling Prices

By Dr. Paul Price of Market Shadows

 

We tried holding up stock prices but couldn’t get the job done. Market Shadows’ Virtual Value Portfolio dipped by 2% during the week but still holds on to a market-beating 8.45% gain YTD. There was no escaping the downdraft after a major Portuguese bank failed. Of all the triggers for a large selloff, I’d guess the Portuguese bank failure was pretty far down most people's list of "things to worry about." 

All three major indices gave up some ground with the Nasdaq composite taking the hardest hi...



more from Paul

Pharmboy

Biotechs & Bubbles

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

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



more from Pharmboy

Promotions

See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.

Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.

Follow this link to register for their training webinar where they’ll demonstrate the tested and proven Algorithm powered by the same technological principles that have made GOOGLE the #1 search engine on the planet!

And get this…had you done nothing b...



more from Promotions



FeedTheBull - Top Stock market and Finance Sites



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...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>