Author Archive for Zero Hedge

Trump Set To Meet With Big 3 Auto CEOs: “I Want New Plants To Be Built Here For Cars Sold Here!”

Courtesy of ZeroHedge. View original post here.

After months of threatening to levy a 35% border tax a cars imported from Mexico, Trump will sit down with the CEO’s of the Big 3 domestic auto manufacturers this morning to discuss ideas on how to keep manufacturing jobs in the U.S.  Trump sent the following tweet previewing the meeting saying he wants “plants to be built here for cars sold here!”

Will be meeting at 9:00 with top automobile executives concerning jobs in America. I want new plants to be built here for cars sold here!

— Donald J. Trump (@realDonaldTrump) January 24, 2017

We suspect the meeting will include a little tit-for-tat with auto executives seeking to cut onerous Obama regulations including the fuel efficiency standard he signed into law back in 2011 requiring OEM fleets to have an average 54.5 mpg fuel economy rating by 2025.  Per a statement from Sean Spicer, the White House will be looking for any and all ideas from the Big 3 CEO’s on how to keep jobs in the U.S. Per Reuters:

It will be the first time the CEOs of the big three automakers meet jointly with a U.S. president since a July 2011 session with then-president Barack Obama to tout a deal to nearly double fuel efficiency standards to 54.5 miles per gallon by 2025. Fiat Chrysler is the Italian-American parent of the former Michigan-based Chrysler.

White House spokesman Sean Spicer on Monday said Trump “looks forward to hearing their ideas about how we can work together to bring more jobs back to this industry.”

Of course, this meeting with auto execs come after months of tweet storms from the President which sent a very clear message to businesses looking to offshore manufacturing operations that imports would be hit with a massive 35% tariff.  Here is a December 4th tweet storm from the President-elect on the topic:

The U.S. is going to substantialy reduce taxes and regulations on businesses, but any business that leaves our country for another country,

— Donald J. Trump (@realDonaldTrump) December 4, 2016

fires its employees, builds a new factory or plant in the other country, and then thinks it will sell its product back into the U.S. ……

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Senate Democrats Introduce $1 Trillion Infrastructure Plan, Offer Trump Support If He Backs It

Courtesy of ZeroHedge. View original post here.

Senate Democrats are set to unveil a $1 trillion infrastructure plan and offer President Donald Trump their support if he backs it, the NYT reports.

The plan includes $180 billion to rail and bus systems, $65 billion to ports, airports and waterways, $110 billion for water and sewer systems, $100  billion for energy infrastructure, and $20 billion for public and tribal lands.

Cited by the Times, Chuck Schumer said “our urban and rural communities have their own unique set of infrastructure priorities, and this proposal would provide funding to address those needed upgrades that go beyond the traditional road and bridge repair.” The Senate Democrat leader adds that “We’re asking President Trump to work with us to make it a reality/”

As part of his agenda, Trump has promised to unveil an ambitious infrastructure package during the first 100 days of his presidency. “We will build new roads, and highways, and bridges, and airports, and tunnels, and railways all across our wonderful nation,” he vowed in his Inaugural Address.

One of Trump’s top advisers said Monday, however, that the president’s plan may run into roadblocks in the Republican-led Congress.

“He has to come up with a financing plan, and I think there’s going to be a little bit of a tug of war between the conservatives in the Republican party who are concerned about deficits and the president who’s concerned about jobs,” Richard LeFrak said on CNBC’s “Squawk Box.” “I think he will prevail, ultimately, because he wants to put people to work.”

Republicans resisted President Barack Obama’s push for an infrastructure “surge” for eight years, arguing that the federal government couldn’t afford it and that state and local governments should shoulder more responsibility for improvements. However, now that Trump “has taken up the Democratic cause”, they may find it more problematic.

Meanwhile, as the NYT adds, the first major test of Mr. Trump and his sway over congressional Republicans will come Tuesday morning at 10 a.m. That is when the Congressional Budget Office, the nonpartisan Capitol Hill scorekeeper, will update its budget outlook. The office is expected to say that the federal deficit, after years of decline, will start swelling again this year and will pick up steam over the next decade if policies aren’t changed to curb the

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Trump “Day Two”: Preview Of Today’s Key Events In Washington

Courtesy of ZeroHedge. View original post here.

“Day two” on the job for Donald Trump is shaping up as another busy day for both the White House and Capitol Hill. Below is a preview of all the scheduled events of interest today in Washington.


  • 9am: President Trump meets with CEOs of the U.S. ‘Big Three’ automakers: GM, Ford, Fiat Chrysler
  • 10am: Trump meets with Chief of Staff Reince Priebus
  • 11am: Trump signs executive order; White House schedule doesn’t provide details on what order may entail
  • 1pm: Trump speaks with Indian Prime Minister Narendra Modi
  • 1:30pm: Trump meets with CIA Director Mike Pompeo
  • 3pm: Trump meets with Senate leaders
  • 3:45pm: Trump meets with Senate Majority Leader Mitch McConnell


  • 10am: House convenes
  • 10:30am: House Ways and Means Cmte Chairman Kevin Brady details panel’s 2017 agenda; U.S. Chamber of Commerce, 1615 H St. NW
  • Noon: House considers H.R.7, which would amend Affordable Care Act to bar expenditure of federal money to purchase insurance that covers abortion services


  • 9:30am: Senate Armed Services Cmte holds hearing on defense budget for FY18 and onward; 216 Hart Senate Office Building
  • 10am: Senate Judiciary Cmte votes on nomination of Sen. Jeff Sessions for attorney general; 226 Dirksen Senate Office Building
  • 10am: Senate Banking, Housing and Urban Affairs Cmte votes on nomination of Ben Carson for HUD secretary; 538 Dirksen Senate Office Building
  • 10am: Senate Finance Cmte holds hearing on nomination of Rep. Tom Price for HHS secretary; 215 Dirksen Senate Office Building
  • 10am: Senate Commerce, Science and Transportation Cmte to vote on nominations of Elaine Chao for Transportation secretary and Wilbur Ross for Commerce secretary; 253 Russell Senate Office Building
  • 10:30am: Senate Budget Cmte holds hearing on nomination of Rep. Mick Mulvaney for OMB director; 608 Dirksen Senate Office Building
  • Related: Trump Budget Director to Say National Debt Needs Action Quick
  • 10:30am: Senate Small Business Cmte holds hearing on nomination of Linda McMahon for SBA administrator; 428-A Russell Senate Office Building
  • 12:15pm: Senate Democratic Leader Chuck Schumer, other top Democratic sens. hold press conference to unveil infrastructure proposal; Senate Radio-TV Gallery
  • 2:30pm: Senate Homeland Security and Governmental Affairs Cmte holds hearing Rep. Mick Mulvaney for OMB director; 342 Dirksen Senate Office Building
  • Senate Health, Education, Labor and Pensions Cmte pushed confirmation vote to Tuesday, Jan. 31, for Education secretary

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Frontrunning: January 24

Courtesy of ZeroHedge. View original post here.

  • Dollar steadies after stumble, sterling rides out Brexit ruling (Reuters)
  • After U.S. exit, Asian nations try to save TPP trade deal (Reuters)
  • U.K. Court Rules Brexit Trigger Needs Parliamentary Vote (BBG)
  • Brexit plans unlikely to be slowed by Article 50 defeat (Reuters)
  • Health Secretary Nominee Proposed Bill Benefiting Puerto Rico Investments (WSJ)
  • How Trump Would Rework Nafta—and What Mexico, Canada Want in Return  (BBG)
  • Trump calls for more U.S. auto jobs, factories ahead of CEO meeting (Reuters)
  • Belarus Businessman Said to Be Indirect Source on Trump Dossier? (WSJ)
  • Canadian Drillers Brave Deep Freeze as Oil Patch Revives Growth  (BBG)
  • A $90 Billion Wave of Debt Shows Cracks in U.S. Real Estate Boom  (BBG)
  • China pushes back at U.S. over South China Sea (Reuters)
  • This 36-Year-Old May Be Running America  (BBG)
  • China’s Efforts to Stem Capital Outflows Are Starting to Pay Off  (BBG)
  • Iran, Russia, Turkey say will jointly enforce Syria ceasefire (Reuters)
  • Generali Jumps on Report Intesa Plans to Mount Takeover Bid  (BBG)
  • Bankers Cash In on Postelection Stock Rally (WSJ)
  • BT Plunges After Cutting Outlook, Tripling Italy Writedown  (BBG)
  • After Bond Chief’s Exit, Millennium’s Englander Left Alone Again  (BBG)
  • Verizon Misses Profit Estimates as Holiday Promos Take Toll  (BBG)
  • At Wells Fargo, Bank Branches Were Tipped Off to Inspections (WSJ)
  • DuPont Pushes Back Expected Closing of Dow Merger to First Half  (BBG)
  • Goldman Hails Global Rebound as Currie Sees Commodity Demand  (BBG)

Overnight Media Digest


- President Donald Trump started his first full workday at the White House focused on the economy, trade and jobs, withdrawing from the Trans-Pacific Partnership (TPP) agreement and promising to tax firms that move operations overseas.

- A federal judge Monday blocked the proposed merger of health insurers Aetna and Humana on antitrust grounds, a potentially fatal legal blow to the $34 billion deal.

- The Senate confirmed Representative Mike Pompeo of Kansas as director of the Central Intelligence Agency, putting a Republican lawmaker in charge of the nation’s top spy agency.

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Trump Says “Illegal” Voters Cost Him Popular Vote

Courtesy of ZeroHedge. View original post here.

Sparking his latest confrontation with the media, mostly the NYT, CNN and WaPo, overnight president Trump told members of Congress on Monday in a private reception that he lost the popular vote in the election because millions of undocumented immigrants cast votes for his opponent.

Trump’s claim, which much of the mainstream press has determined to be “fake news” despite reported evidence to the contrary, was first made by Trump before his election, and drew widespread criticism by the press overnight.

According to a Bloomberg report, Trump told Republican and Democratic congressional leaders at the White House reception that he would have won the popular vote had three to five million undocumented immigrants not cast ballots for Democrat Hillary Clinton, three people familiar with the remark said. Two of the people said Trump used the term “illegals” to describe the alleged immigrant voters. As a reminder, Hillary Clinton won the national popular vote by about 2.9 million ballots.

A White House spokesman, Marc Short, told Bloomberg that the administration would not comment because the reception was off the record. The White House press secretary, Sean Spicer, later said that he would “look into” the report.

Naturally, it is illegal for anyone but citizens to vote in most U.S. elections. Various reports during and after the election, especially during the infamous Jill Stein recount, found irregularities in voting which suggested that illegal voters were indeed allowed to cast votes, however not to the extent claimed by Trump, who suggested that at least 3 million undocumented immigrants voted in the 2016 election. There were sporadic reports of people voting illegally, as there are in nearly all elections, but federal and state officials of both parties said that the election’s integrity was overwhelmingly secure.

Trump first asserted that illegal ballots had tilted the popular vote in Clinton’s favor in a Nov. 27 tweet. “In addition to winning the Electoral College in a landslide, I won the popular vote if you deduct the millions of people who voted illegally,” he said. He provided no evidence for the claim. Elections officials in California, New Hampshire and Virginia said it was baseless. 

Subsequently Trump said he would have won the popular vote had he campaigned for the most votes in the election, rather than focusing on

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Johnson & Johnson Slides On Top-Line Miss, Disappointing Drug Sales, Soft Outlook

Courtesy of ZeroHedge. View original post here.

On the surface, key Dow component Johnson & Johnson reported strong earnings, with EPS of $1.58 coming stronger than the $1.56 consensus expectation, despite revenue of $1.81BN missing consensus of $18.28BN. Among the key notables in the earnings report was the company’s announcement it was in a process to evaluate potential strategic options for the Johnson & Johnson Diabetes Care Companies, specifically LifeScan, Animas, and Calibra. Such option  “may include the formation of operating partnerships, joint ventures or strategic alliances, a sale of the businesses.”

However, the reason why the stock was over 2% lower in the pre-market, and pressing the entire Dow average as a result, is because Dow took a page out of the IBM playbook, when it used yet another sharply reduced effective tax rate, which in Q4 dropped to 14.5%, on an adjusted basis (and 11.8% unadjusted), down from 17.7% the prior quarter. Had JNJ used its previous tax rate, it would have missed both the top and bottom line.

Additionally, Wall Street appears to be further disappointed with the company misses across virtually all key drug sale categories, as follows:

  • 4Q Remicade rev. $1.62b, est. $1.64b
  • 4Q Stelara rev. $879m, est. $881.7m
  • 4Q Zytiga rev. $519m, est. $588m
  • 4Q Imbruvica rev. $346m, est. $377m
  • 4Q Invokana rev. $371m, est. $387.7m
  • 4Q Simponi rev. $426m, est. $445m
  • 4Q Olysio rev. $10m, est. $33m (1 est.)
  • 4Q Xarelto rev. $598m, est. $559.7m

Completing the disappointing trifecta was JNJ’s outlook, which came in below the Wall Street consensus estimate: the company now sees FY17 sales $74.1b to $74.8b, and FY adj. EPS $6.93 to $7.08.

US Futures, Oil Flat As Greenback Rises Despite Mnuchin’s “Strong Dollar” Warning

Courtesy of ZeroHedge. View original post here.

US equity futures were flat, European stocks rose and Asia was mixed after the dollar posted a modest rebound overnight despite Mnuchin’s “strong dollar” comments, while oil was flat and gold fell, as investors focused on President Donald Trump’s plans to boost growth. The pound fell after a U.K. court ruled that Parliament must vote on triggering Brexit.

The dollar struggled in Asia on Tuesday as U.S. President Donald Trump’s focus on protectionism ahead of fiscal stimulus fueled suspicions his administration might be content to gain a competitive advantage through a weaker currency. However, early European trading saw modest gains in the USD, which rose to 113.4 in the USDJPY after dropping as low as 112.52, while the EURUSD declined to 1.73 after rising as high as 1.77 in Asian trading.  The talk of trade wars came even as more data pointed to a welcome revival in activity worldwide. A survey of Japanese manufacturing out Tuesday showed the fastest expansion in almost three years as export orders surged. Indeed, sentiment took an early knock when Mnuchin told senators that he would work to combat currency manipulation but would not give a clear answer on whether he views China as manipulating its yuan.

Still, the recent euphoria surrounding the Trumpflation trade now appears largely gone: “It’s interesting that markets did not respond positively to a reaffirmation of lower taxes and looser regulation, reinforcing the impression that all the good news is discounted for now,” wrote analysts at ANZ in a note. “As week one in office gets underway, there is a growing sense of scepticism, not helped by the tone of Friday’s inaugural address and subsequent spat with the media.”

Doubts about exactly how much fiscal stimulus might be forthcoming helped Treasuries rally. Yields on 10-year notes eased to 2.39 percent, having enjoyed the steepest single-day drop since Jan. 5 on Monday.  “The driver of a shift higher will be optimism that President Trump’s policies deliver more growth,” Juckes said. “If he starts tweeting about fiscal policy instead of trade policy maybe the bond bears can come out of hibernation again.” As the chart below shows, the dollar continues to trade in lockstep with 10Y TSY yields.

As traders arrive at their desks in the US, the greenback has managed to advance against most major

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Turkish Lira Crashes After Central Bank Unexpectedly Keeps Benchmark Repo Rate Unchanged

Courtesy of ZeroHedge. View original post here.

With Wall Street consensus expecting the Turkish central bank to hike its benchmark repo rate by 50bps (in two cases by as much as 75 bps and five analysts were expecting as much as a 100 bps increase) in hopes of arresting the recent record collapse in the Turkish Lira, this morning the central bank again proved it has become a political appendage of Erdogan, who has repeatedly stated he is against any rate hikes, when the central bank kept its overnight benchmark repo rate unchanged at 8%, even as it raised its less relevant overnight lending rate by the expected 75 basis points.

The latest breakdown of Turkey’s rates:

  • Benchmark repo rate: 8%
  • Overnight lending rate: 9.2%
  • Overnight borrowing rate: 7.25%

The disappointment was particularly acute following a November decision to hike rates by 50 bps, the first such increase in more than two years.

As a result, the lira plunged nearly 2% with USD/TRY surging as much as 1.9% to session high of 3.8284.

In its justification, the central bank said that it can deliver further tightening if needed, noting “inflation expectations, pricing behavior and other factors affecting inflation will be closely monitored and, if needed, further monetary tightening will be delivered.”

“Moreover, necessary liquidity measures will be taken in case of unhealthy pricing behavior in the foreign exchange market that cannot be justified by economic fundamentals.”

“Recent data indicate partial recovery in economic activity, which is “expected to continue at a moderate pace. Yet, excessive fluctuations in exchange rates since the previous meeting have increased the upside risks regarding the inflation outlook”

It concluded that “significant rise in inflation is expected to continue in the short term due to lagged pass-through effects and the volatility in food prices.”

In other words, expect Turkish inflation to soar in the near future as the currency crash accelerates, all the while Erdogan blames some vast foreign conspiracy to overthrow him.

In Blow To Theresa May, UK Supreme Court Rules Parliament Must Vote Before Brexit Can Start

Courtesy of ZeroHedge. View original post here.

In a blow to Theresa May’s ambitions to implement a “clean Brexit”, on Tuesday morning UK’s Supreme Court ruled the UK Prime Minister can’t start the Brexit process without approval from Parliament, a decision that could potentially complicate her path toward a clear break from the European Union. Eight justices voted against the government and three voted in favor of it, in a decision that was widely expected.

The case had been brought by a group of British citizens opposed to Brexit with the help of some of the U.K.’s top constitutional lawyers. Spearheading the legal challenge were British businesswoman Gina Miller and hairdresser Deir Dos Santos. Grahame Pigney, a France-based expatriate who used crowdfunding from more than 4,000 people to pay for lawyers, joined the suit as a co-party

The government responded that the ruling wouldn’t affect May’s plans to trigger talks to leave the EU by the end of March and the opposition Labour Party said after the judgment it wouldn’t seek to stop Brexit from happening. But Labour said it would try to amend any bill introduced by Mrs. May to kick off the Brexit process, possibly influencing how the U.K.’s new relationship with the EU will look.

According to the WSJ, while a majority of lawmakers voted to stay in the EU, many have said they won’t seek to block Article 50, which formally starts Britain’s exit from the EU, given the popular vote, in which 52% voted to leave. “The British people voted to leave the EU, and the government will deliver on their verdict—triggering Article 50, as planned, by the end of March,” a U.K. government spokesman said. “Today’s ruling does nothing to change that.”

Lord David Neuberger said any change in the law to put Brexit into effect must be made by an act of Parliament. “To proceed otherwise would be a breach of settled constitutional principles stretching back many centuries,” he said. He said the Supreme Court justices were ruling on the process of legally bringing the result into effect, and that the ruling had nothing to do with whether the U.K. should exit from the EU or the timetable.

While the outcome was not surprising, the case has been one of the most politically charged in decades. After the High Court ruled against the government

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Trump Wins The Unions: Teamsters Praise TPP Withdrawal, Labor Chiefs Describe “Incredible” Meeting With Trump

Courtesy of ZeroHedge. View original post here.

Shortly after Donald Trump made good on one of his core campaign promises on Monday morning by signing an executive order formally withdrawing the U.S. from the Trans-Pacific Partnership free-trade deal, Trump told labor union leaders that he would renegotiate the North American Free Trade Agreement “at the appropriate time.”

The remarks came at the start of a meeting at the White House with leaders of construction, carpenters, plumbers and sheet metal unions, during which Trump pledged to stop trade deals that harmed American workers. 

According to the White House, participants included North America’s Building Trades Unions President Sean McGarvey, Laborers’ International Union of North America President Terry O’Sullivan, SMART sheet metal workers’ union President Joseph Sellers, United Brotherhood of Carpenters President Doug McCarron and Mark McManus, president of the United Association that represents plumbers, pipefitters, welders and others. The union meeting also included several local union officials and follows a gathering of 12 chief executives of large companies at the White House to discuss revitalizing the U.S. manufacturing economy.

“We’re gonna get ‘em working again, right?” says Pres Trump, hosting photo op with union leaders in the Oval.. “Great meeting,” he said.

— Mark Knoller (@markknoller) January 23, 2017

“This is a group that I know well,” Trump said referring to the union bosses, adding “we’re going to put a lot of people back to work” and “stop the ridiculous trade deals.”

When Trump said the administration “just officially terminated TPP,” it prompted applause from the labor chiefs (and this time it certainly wasn’t by paid members of the studio audience), who later described their meeting with Trump as “incredible.”

Union leaders speak to WH reporters and described meeting with President Trump as “incredible”

— shannon A (@shogustus) January 23, 2017

Trump also added that he doesn’t blame former President Obama for decades of bad trade deals, which – at least mathematically – makes sense.

But even more notable, was the dramatic pivot by the US labor unions, historically stalwart democrat supporters, who have suddenly emerged as big supporters of Trump policies, and perhaps no one more so than AFL-CIO President Rich Trumka who said TPP withdrawal is “a good first step toward building trade policies that benefit workers.”

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Kimble Charting Solutions

Doc Copper; Time for it to out perform the S&P 500?

Courtesy of Chris Kimble.

Some feel the price action of Copper is important to watch, because it could send important macro messages, about world wide growth or lack of.  Since 2011 Ole “Doc Copper” has been very weak, no question about it. During this weakness, the S&P 500 has continued to move higher. So is the price action of Doc Copper not useful or relevant anymore?

Below looks at ratio of Copper to the S&P 500-


Doc Copper has clearly been ...

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Zero Hedge

Limo Destroyed By Anti-Trump Rioters In DC Belongs To Muslim Immigrant, Fears Livelihood Lost

Courtesy of ZeroHedge. View original post here.

Images of so-called anti-Trump rioters breaking Starbucks' windows, busting trash cans, and burning bourgeois limousines in the streets of Washington DC really exposed the reality of the alt-left's tolerance and 'stuck it to the man'. The only problem being, in the case of the limo, 'the man' was Muslim immigrant Muhammad Ashraf whose small business now faces $70,000 losses and an injured employee.


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Mohnish Pabrai Speaks to University of Puerto Rico MBA Students On Charlie Munger latticework of mental models

By VWArticles. Originally published at ValueWalk.

Published on Jan 23, 2017

September 2016, San Juan, Puerto Rico Museum of Art, Raul Julia Theater
Mohnish gives a completely new talk.
He discusses the Charlie Munger latticework of mental models and the work of David Hawkins on Power vs. Truth.

]]> Get The Full Series in PDF

Get the entire 10-part series on Charlie Munger in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

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ALso see


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Phil's Favorites

Smart Shoppers Wait for Sales (Ross and Costco)


Smart Shoppers Wait for Sales (Ross and Costco)

By Paul Price of Arrow Loop Research

In recent years retail's sweet spot has been "off-price" merchandise. That means high-quality, yet deeply discounted goods. People want nice things but are insisting on bargain prices.

Ross Stores (ROST) and Costco (COST) are businesses that have prospered along with that trend. Both companies appear on track to post all-time record earnings in their current fiscal years. Shares of each have risen significantly since the end of The Great Recession.

These firms make money because educated consumers know what things are worth and appreciate getting them at marked-down levels.


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Chart School

RTT browsing latest..

Courtesy of Read the Ticker.

Please review a collection of WWW browsing results.

Date Found: Thursday, 30 June 2016, 11:51:18 PM

Click for popup. Clear your browser cache if image is not showing.
Comment: Bullion Banks Are Starting to Lose Control of Silver

Date Found: Friday, 01 July 2016, 03:30:33 PM

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Comment: Cashin - Market Beats Fed

Date Found: Friday, 01 July 2016, 11:06:14 PM

Click for popup. Clear your browser cac...

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Market News

News You Can Use From Phil's Stock World


Financial Markets and Economy

Dollar on defensive, Asia stocks subdued amid U.S. trade unease (Reuters)

The dollar was under pressure in Asia on Tuesday as U.S. President Donald Trump's focus on trade protectionism fuelled suspicions his administration might seek a competitive advantage through a weaker currency.

The head of the biggest exchange group in the world on Trump, China, and handling $1 quadrillion in trading (Business Insider)

Terrence "Terry" Duffy is a popular man.

Upon visiting the CME Group office in New York on January 11 to speak with Duffy, chairman and CEO at the $40 billion exchange group...

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Phil's Stock World's Las Vegas Conference!


18 people have signed up, but it's not too late to join in!

Learn option strategies and how to be the house and not the gambler. That's especially apropos since we'll be in Vegas....

Join us for the Phil's Stock World's Conference in Las Vegas!

Date:  Sunday, Feb 12, 2017 and Monday Feb 13, 2017            

Beginning Time:  9:30 to 10:00 am Sunday morning

Location: Caesars Palace in Las Vegas


Caesars has tentatively offered us rooms for $189 on Saturday night and $129 for Sunday night. However, we have to sign the contract ASAP. We n...

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Digital Currencies

As China Slaps Fees On Bitcoin Trades, Japan Monthly Volumes Soar by 8,900%

Courtesy of Zero Hedge

There is one reason why bitcoin quickly became the darling of HFT and various high speed algo traders operating out of China and the rest of the world: domestic transactions were "frictionless", as there were no fees on buys or sells. Until last night, that is, because as China's three largest bitcoin exchanges, BTCC, Huobi and OkCoin, all said in separate statements on their websites late on Sunday, starting Tuesday they will charge traders a flat fee of 0.2% per transaction. This is only the latest fallout from the recent crackdown on Chinese bitcoin exchanges whose activities have drawn increased scrutiny from the centra...

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Swing trading portfolio - week of January 23rd, 2017

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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Members' Corner

Secular Stagnation and Pension Crisis?

Courtesy of Nattering Naybob.

From Jeffrey Sniders The Denominator Prevails...

PSS57 - "There is absolutely no data supporting a premise of demographics. "

Bingo, the vile filth known as "Secular Stagnation" emanated from Larry Summers, and was given an unqualified Fed benediction.  Voila, no real data, no proof, an MSM narrative and repeated URBAN MYTH.  The Flatworld Society has a more promising premise than this intellectual claptrap.

Its another "boogey man" same as the "pension crisis", which will be utilized to take away all forms of private and public pension, and have everybody forced into fee laden 401K/IRA. They will also force Social Security into the same fee laden hole using...

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Mapping The Market

If we try it enough, it will work.

Via Jean-Luc

Brownback wants Trump to emulate what he did in Kansas because it worked so well:

Sam Brownback Calls on Donald Trump to Mimic His Kansas Tax Plan


Sam Brownback, the Kansas governor whose tax cuts brought him political turmoil, recurring budget holes and sparse evidence of economic success, has a message for President-elect Donald Trump: Do what I did.

In 2013, Mr. Brownback set out to create a lean, business-friendly government in his state that other Republicans could replicate. He now faces a $350 million deficit when the Kansas legislature convenes in January and projections of a larger one in 2018. The state’s economy is flat and his party is fractured...


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The Medicines Company: Insider Buying

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

I'm seeing huge insider buying in the biotech company The Medicines Company (MDCO). The price has already moved up around 7%, but these buys are significant, in the millions of dollars range. ~ Ilene




Insider transaction table and buying vs. selling graphic above from

Chart below from


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All About Trends

Mid-Day Update

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

Click here for the full report.

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

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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...

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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.

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