Author Archive for Zero Hedge

Why The Recurring Economic Crises?

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Authored by Murray Rothbard via The Mises Institute,

A selection from Chapter 42 of Economic Controversies.

Why, then, does the business cycle recur? Why does the next boom-and-bust cycle always begin? To answer that, we have to understand the motivations of the banks and the government. The commercial banks live and profit by expanding credit and by creating a new money supply; so they are naturally inclined to do so, “to monetize credit,” if they can. The government also wishes to inflate, both to expand its own revenue (either by printing money or so that the banking system can finance government deficits) and to subsidize favored economic and political groups through a boom and cheap credit. So we know why the initial boom began. The government and the banks had to retreat when disaster threatened and the crisis point had arrived. But as gold flows into the country, the condition of the banks becomes sounder. And when the banks have pretty well recovered, they are then in the confident position to resume their natural tendency of inflating the supply of money and credit. And so the next boom proceeds on its way, sowing the seeds for the next inevitable bust.

Thus, the Ricardian theory also explained the continuing recurrence of the business cycle. But two things it did not explain.

First, and most important, it did not explain the massive cluster of error that businessmen are suddenly seen to have made when the crisis hits and bust follows boom. For businessmen are trained to be successful forecasters, and it is not like them to make a sudden cluster of grave error that forces them to experience widespread and severe losses.

Second, another important feature of every business cycle has been the fact that both booms and busts have been much more severe in the “capital goods industries” (the industries making machines, equipment, plant or industrial raw materials) than in consumer goods industries. And the Ricardian theory had no way of explaining this feature of the cycle.

The Austrian, or Misesian, theory of the business cycle built on the Ricardian analysis and developed its own “monetary overinvestment” or, more strictly, “monetary malinvestment” theory of the business cycle. The Austrian theory was able to explain not only the phenomena explicated by the Ricardians,


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US Falls Behind Canada, Finland, And Hong Kong In Human Freedom Index

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by MPN News Desk via TheAntiMedia.org,

The United States lags far behind other developed countries in terms of personal, civil and economic freedoms, according to a study released this month. Its neighbor to the north, for example, ranked 14 spots ahead of the so-called “Land of the Free.”

Three international think tanks — the U.S.-based Cato Institute, Canada’s Fraser Institute, and Germany’s Liberales Institut at the Friedrich Naumann Foundation for Freedom — released the Human Freedom Index earlier this month. In addition to major civil liberties, the study considers safety and rule of law, relative size of government and capitalist values like the soundness of money, property rights, and access to international trade. The authors used a total of 70 data sources ranging from 2008 to 2012, the most recent year for which all necessary data is currently available.

According to the report,

“The top 10 jurisdictions in order were Hong Kong, Switzerland, Finland, Denmark, New Zealand, Canada, Australia, Ireland, the United Kingdom, and Sweden.”

The U.S. ranks 20th, while Myanmar, Congo and Iran round out the bottom of the list of 152 countries.

Commenting on Canada’s high ranking compared to the U.S., Fred McMahon, the editor of the study, told the Toronto Sun:

“Canada doesn’t lead in a single area, but it’s high on all areas, like economic freedom … We have a very strong rule of law, good on safety and security. You can’t really have freedom without safety and security. And of course, in what you might call political freedoms and associations, speech and so on, we’re also top of the class.”

McMahon cited the U.S. war on terror, recent changes to property rights, and the ongoing effects of the 2008 financial crisis for the country’s poor ranking. “The U.S. has declined incredibly over the past decade- and-a-half,” he told the Sun last week, adding:

“The U.S. is known as the ‘Land of liberty’ and Canada is known as ‘The land of good governance,’ so it’s a little surprising that a country whose motto hinges on good government as a motto is well-ahead of a country whse motto hinges on liberty.”

Hong Kong’s high ranking may seem surprising, but the index does not attempt to measure democracy, and this year’s report doesn’t take into…
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California Droughtrage – LA County Supervisors Have Cars Washed 3 Times A Week

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Great news – Californians have managed to reduce water usage by 31% in July, surpassing the mandated 25% reduction amid the worst drought in centuries. However, this dramatic reduction is in now way thanks to local government in Los Angeles, where, as Daily News reports, the majority of LA County supervisors have their take-home cars washed two or three times a week, service records show, and actually washed them more frequently than before Governor Brown's orders.

California decreased its total water use by 31.3 percent in July, surpassing a goal set by Gov. Jerry Brown four months ago to cut urban water use by 25 percent, according to figures released Thursday, but, as Daily News report, no thanks whatsoever to LA County Board of Supervisors…

Despite living in one of the most car-centric and image-conscious cities in the world, many Los Angeles drivers have cut their carwashes during the crippling drought.

Not so for the Los Angeles County Board of Supervisors.

The majority of the supervisors wash their take-home cars two or three times a week, service records show, and actually washed them more frequently after Gov. Jerry Brown ordered a 25 percent cut in urban water use. As the county’s washes continue to consume tap water, some other local governments have pledged to skip washes for months or are using recirculated water.

“When government takes the initiative, it really says something about their leadership,” said Rachel Stich, spokeswoman for Los Angeles Waterkeeper, an environmental group that started a pledge drive for dirty cars. “If they’re going to be asking their residents to conserve water, everybody needs to be stepping up.”

Meanwhile, city officials in Long Beach, Santa Monica, Burbank, Malibu and San Gabriel have all pledged to stop washing their cars for two months, as part of the L.A. Waterkeeper drive.

And in the final irony,

County officials are studying how to save water at their carwashes, a representative said.

Top county officials get their cars washed in the basement of the Kenneth Hahn Hall of Administration downtown, at one of three carwashes run by the county government. They can receive a car allowance, or have the government purchase them a vehicle, which is then washed, maintained and fueled by taxpayers.

*  *  *

Once again – do as I say, not as I do!





All Of Our Hopes & Dreams Come Down To 0.25%

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Simon Black via SovereignMan.com,

Charles Dickens opened his 1859 masterpiece A Tale of Two Cities with one of the most famous introductions in literary history:

“It was the best of times, it was the worst of times… “

This line is notoriously incomprehensible to high school students around the world.

But as paradoxical as it sounds, it truly hits the nail on the head in describing social inequality.

Dickens wrote his book about the struggles in England and France just prior to and during the French Revolution.

For the aristocracy it was the best of times.

These people were born into a life of unparalleled prestige and luxury simply by accident of birth, without ever having to work a day in their lives.

The working class, on the other hand, toiled away in starvation devoid of any opportunity, freedom, or hope.

For them, it was the worst of times.

Right now the Fed is going to meet in Jackson Hole, Wyoming to discuss what they’re going to do about interest rates.

Interest rates have been kept at zero for years, and now there is talk that they might raise rates to 0.25%.

This is far from a guaranteed thing. In fact, one of the most influential members of the Fed has already stated that with stocks swooning they likely won’t raise rates after all.

That tells you everything you need to know about the Fed. They’re not there for the economy; they’re there to keep stocks in a bubble.

Through their interventions they’ve created massive risks in the financial system, from which the tiniest elite has received disproportionate benefit.

Over the last four years, the top 80 billionaires saw their wealth increased by 50%, while the incomes for the rest of the population remained stagnant.

Adjusted for inflation, the average worker is actually far worse off than they were 15 years ago.

They are the ones who have had to suffer the consequences of the Fed’s actions.

They’ve endured gyrating financial markets, banks that are pitifully capitalized, and insolvent national pension funds—taking all of the risk, but none of the reward.

It might not be the worst of times, but with inequality rising, it’s getting there.

There’s nothing wrong with inequality itself.

There are no two human beings on the planet who…
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Boeing Tests X-Box-Controlled Laser Cannon

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Drones have been turning up in strange places lately.

For instance, back in April, a mailman delivered a campaign reform letter to Congress by landing a drone on the Capitol lawn and just a few days later, a radioactive drone turned up on top of Japanese Prime Minister Shinzo Abe’s office (Kuroda paradropping yen?). 

Then, in May, a drone showed up in Rosa Parks Circle in Grand Rapids, Michigan and literally rained down money from the heavens. 

Meanwhile, earlier this month, a Delta flight and a JetBlue flight had close encounters of the drone kind over JFK, avoiding collisions by just 100 feet. 

Well apparently Boeing had had just about enough of people “flying their drones where they shouldn’t” (to quote Wired) because the company has now developed a drone-killing laser cannon which it tested in New Mexico earlier this week. Here’s more from Wired:

The aerospace company’s new weapon system, which it publicly tested this week in a New Mexico industrial park, isn’t quite as cool as what you see in Star Wars—there’s no flying beams of light, no “pew! pew!” sound effects. But it is nonetheless a working laser cannon, and it will take your drone down.

People keep flying their drones where they shouldn’t. In airport flight paths. Above wildfires. Onto the White House lawn. Luckily, there haven’t been any really bad incidents—that is, no one has been killed by a civilian quadcopter or plane, yet.

But governments and militaries around the world are terrified by the prospect of drones carrying explosives or chemical weapons (and now, pornography) into places where they shouldn’t.

There are lots of theories on the best way to deal with the drone threat. An Idaho company has developed special anti-drone shotgun shells. Some agencies are working on jamming technology to block communication from the operator to the aircraft. Firefighters in New York kept it simple, aiming their hose at a pesky drone hovering near a house fire.

Forget all that. Boeing thinks the best way to kill a drone is to zap it with a precision laser, burn a hole in it, and bring it down. So it created a weapon system to do just that—and the result could someday be installed everywhere from LaGuardia to the Pentagon.

But as Wired…
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Pentagon’s New “Law of War” Manual “Reduces Us to the Level of Nazis”

Courtesy of ZeroHedge. View original post here.

Submitted by George Washington.

The Pentagon’s new Law of War Manual – a 1,200-plus page document issued in June by the Defense Department’s Office of the General Counsel – is barbaric.

The Manual is so bad that one of the leading experts on the law of war (Dr. Francis Boyle) – who wrote the Biological Weapons Anti-Terrorism Act of 1989, the American implementing legislation for the 1972 Biological Weapons Convention, served on the Board of Directors of Amnesty International, and teaches international law at the University of Illinois, Champaign – says :

This Law of War Manual reduces us to the level of Nazis. There’s no other word for it.

Boyle also says the Manual:

Reads like it was written by Hitler’s Ministry of War.

Why is the Manual so bad?

Manual Authorizes Slaughter of Innocent Civilians

Because – according to Boyle – the Manual allows massacres of civilian populations. The most comprehensive previous such document – the 1956 Pentagon field manual – assumed that any deliberate targeting of civilians was illegal and a war crime.

Reporters Can Be Assassinated

And the Manual treats allows reporters to be treated as “unprivileged combatants”, who can be assassinated.

Boyle points out that this retroactively legalizes assassination of reporters, such as Al Jazeera reporters during Iraq war. Boyle notes that even a SPY would be treated better, and given a trial.

(As we’ve previously noted, the U.S. government treats real reporters as terrorists. Because the core things which reporters do could be considered terrorism, in modern America, journalists are sometimes targeted under counter-terrorism laws.)

Manual Authorizes Barbarous War Crimes

Boyle also says the Manual authorizes the following barbarous war crimes:

(1) Warfare with nuclear weapons. Specifically, the manual states:

There is no general prohibition in treaty or customary international law on the use of nuclear weapons.

This flies in the face of the United Nations Charter, which – as noted by the World Court in its Advisory Opinion on the Legality of the Threat or Use of Nuclear Weapons – makes even threatening to use nuclear weapons a war crime.

This is also particularly…
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These Four Currency Pegs Are Most Likely To Fall

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Ever since Kazakhstan stormed onto the radar screens of a whole host of mainstream financial market commentators who might not have previously known that there was a place called Kazakhstan, everyone wants to know which currency peg will fall next. 

Over the past week, we’ve taken a look at the riyal, the dirham, and of course, the Hong Kong dollar. Below, find a new chart from Bloomberg which attempts to show which pegs are most vulnerable based on the following six statistics: 1) Oil rents as a percent of GDP; 2) the current account balance as a percent of GDP; 3) external debt as a percent of GNI; 4) total reserves in terms of months of imports; 5) total reserves as a percent of external debt; 6) the change in the real effective exchange from 2010 to 2014. 





Nassim Taleb’s Fund Made $1 Billion On Monday; This Is How The Other “Hedge” Funds Did

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

You can’t say Nassim Taleb didn’t warn you: the outspoken academic-philosopher, best known for his prediction that six sigma “fat tail”, or black swan, events happen much more frequently than they should statistically (perhaps a main reason why there is no longer a market but a centrally-planned cesspool of academic intervention) just had a black swan land smack in the middle of the Universa hedge fund founded by ardent Ron Paul supporter Mark Spitznagel, and affiliated with Nassim Taleb.

The result: a $1 billion payday, translating into a 20% YTD return, in a week when the VIX exploded from the teens to over 50, and which most other hedge funds would love to forget.

The WSJ reports:

Universa Investments LP gained roughly 20% on Monday, according to a person familiar with the matter, a day when the market collapsed more than 1,000 points in its largest ever intraday point decline. Universa’s profits—some realized and some on paper—amounted to more than $1 billion in the past week, largely on Monday, as its returns for the year climbed to roughly 20% through earlier this week.

“This is just the beginning,” said Universa founder Mark Spitznagel, a longtime collaborator with Mr. Taleb, who advises Universa, lectures at New York University and is known for his pessimistic forecasts about the global economy. Mr. Spitznagel himself has spent the last several years warning of a coming correction, one he viewed as inevitable given accommodative policies by central banks around the world.

The markets are overvalued to the tune of 50% and I’ve been saying that for some time,” said Mr. Spitznagel.

Universa gained renown for its outsize gains in 2008, racking up more than 100% profits for many of its clients. In 2011, it notched around 10% to 30% gains for clients. During the years in between it posted steady, small losses.

The firm focuses on finding cheap, shorter-dated options on the S&P 500 and other instruments it expects to rise in value amid a notable downturn.

During the past week, the value of such options that Universa bought over the past one to two months jumped, said people familiar with the matter.

The Miami-based Universa and some other “black swan” hedge funds that seek to reap big rewards from sharp market


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“No Recovery For You!” Brazil Officially Enters Recession, Goldman Calls Numbers “Disquieting”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Well, you know what they say: when it rains it pours, especially when you’re the poster child for an epic emerging market unwind and you’re suffering through the worst stagflation in over a decade while trying to clean up the feces ahead of the summer Olympics.. or something. 

Make no mistake, Brazil is in a tough spot.

Here’s a list of problems: 1) collapsing commodity prices, 2) the worst inflation-growth outcome in over a decade, 3) deficits on both the fiscal and current accounts, 4) street protests calling for the President to be sacked, 5) a plunging currency, 6) allegations of rampant government corruption. And we could go on. 

On Friday, the latest quarterly GDP print shows the country sliding into recession (of course these determinations are always backward looking and just about every indicator one cares to observe seems to show that the economy is closer to depression than it is to the early stages of recession) as output contracted 1.9% in Q2. Here’s the summary from Barclays:

Q2 15 real GDP in Brazil surprised on the downside, contracting -1.9% q/q sa and compatible with a y/y print of -2.6%. This follows a downwardly revised -0.7% q/q sa Q1 real GDP print (previous: -0.2%), and also a flat real GDP print in Q4 14 (previous: 0.3% q/q sa). As a matter of fact, the past three quarters were revised to the downside, which now implies a strong negative carry-over for this year: if real GDP is flat in H2 15, the annual growth would be -2.3%.

Relative to our forecast, household consumption, fixed-assets investments and imports all surprised on the downside. These components reflect the adverse conditions for domestic demand, as a reflection of higher inflation, interest rates, fall in income and weaker currency. 

And from Goldman:

The forecasted deeper 2015 recession will contaminate the 2016 growth outlook. Given the worse-than-expected 2Q figure and the downward revision to 1Q sequential growth, our profile for 2H2015 growth points now to a 2.6% contraction of real GDP in 2015 (down from our previous -2.1% forecast) and worsens the statistical carry-over for growth in 2016 to -0.8%. That is, were the economy to stay flat throughout 2016 at the expected 4Q2015 level, real GDP would contract by 0.8% in 2016. Hence, we


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Biggest Short Squeeze Since 2008 Bank Bailout And Epic VIX Rigging Sends Stocks Green For The Week

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

UNRIGGED!!

VIX ETFs were screwed with…

To ensure S&P closed Green!!!

*  *  *

After a week like that, we think everyone needs some downtime… relax… (NSFW)

Before we get to stocks, oil is the big news this week… as a short-squeeze morphed into leaked news which became the real news of a Saudi invasion of Yemen…

This is the biggest weekly gain for WTI since Feb 2011 (when politicial unrest surged in MidEast and Northern Africa with Libya at the heart)

As the Oil-USD correlation regime has flipped dramatically post-FOMC Minutes…

Sparking a huge squeeze higher in Energy stocks…

8 of the 10 biggest gainers in SPDR oil and gas exploration ETF are refiners which are more like inverse bets on oil (crude is an input thus betting on dropping oil prices flowing through to margins)… so the ultimate irony is XLE is surging on negative oil bets and dragging oil higher.

Because that has worked out so well before…

As Credit Suisse noted – nothing has changed with the fundamentals.

*  *  *

Volume today in stocks was abysmal…

Energy's ramp supported much of the gains in the broad indices…and with panic buiyi9ng at the close thanks to XIV manipulation

A look at The Dow futures gives a sense of the panic.. and the resistance that it can't break…

Futures for the week show the craziness of the moves… DUDLEY IS THE NEW BULLARD!!!

VIX was all kinds of messy this week – slammed lower into the close to guarantee a green close for stocks

But VXX shorts were dramatially squeezed every day… this was VXX's biggest weekly gain since May 2010.. and the biggest 2-week rise (up 68%) ever…

56 members of the S&P 500 gained more than 5% this week!!!

And "Most Shorted" had their best (or worst) 3-day surge since Nov 26th 2008 – i.e. the biggest short squeeze since post-Lehman creation of TALF, bailout of Citi, froced acquisiion of BofA and Merrill, and Fed buying GSE debt

The last time shorts were squeezed this much, this happeened…

The Bottom Line: Window Dressing (Most Momentum) and Squeezes (Most Shorted) provided all the ammo needed to create the illusion that all is well
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Phil's Favorites

Dumb Money Redux

 

Dumb Money Redux

Courtesy of Joshua Brown

Cartoon by XKCD

Responses are pouring in from my post Computers are the new Dumb Money. A few of the quants I know told me the link was hitting their inboxes all day from friends and colleagues around the industry. A few desk traders I talk to had some anecdotes backing my assumptions up. One guy, a “data scientist”, was furiously angry, meaning he probably blew himself up this week or has some other deep-rooted insecurity about what he’s trying to do and needed to vent.

If you haven&...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

After all that, the stock market finished the week higher (Business Insider)

The stock market had a wild ride this week. And it ultimately ended up even better than it started. 

This week we saw a 1,000 point drop in the Dow in minutes, another drop of around 600 points in an hour of trading, and another day that saw one of the largest single-day point gains for the Dow in history.

Worried about your investments? Here’s the best advice (Market Watch)

The market is on a ...



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Zero Hedge

Despite Being A 'Pet Rock', The Premium For Physical Bullion Is Exploding

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

While status quo-huggers are all too happy to point out gold and silver's lack of utter exuberance amid this week's carnage, perhaps they need to re-comprehend the difference between a heavily manipulated 'paper' market and the surging demand for physical precious metals that is evident in the 20-plus percent premium - and rising - being paid for silver bullion currently...

...



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Chart School

Gann Angles advise which stocks should be in your portfolio

Courtesy of Read the Ticker.

Gann Angles are great for stock selection, the momentum trader, and judging corrections.

Here is a winning stock, Gann Angle 4x1 is holding the trend of PriceLine. Amazing trend!

Other stocks in this 7 year bull market like AAPL and SBUX have had great Gann angle supporting trends.

Click for popup. Clear your browser cache if image is not showing.



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

Investing Quote...

...“Stocks create their own field of action and power; power to attract and repel,which principle explains why certain stocks at times lead the market...



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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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Kimble Charting Solutions

Dangerous Place for a kiss of resistance, says Joe

Courtesy of Chris Kimble.

Anyone noticed its been a wild week? Has anything been proven with all the volatility the past 5-days?

What happens at (1) below, could tell us a good deal about what type of damage did or didn’t take place this week!

CLICK ON CHART TO ENLARGE

The large decline on Monday cause the S&P 500 to break support of this rising channel.

The mid-week rally pushed the S&P higher and as of this morning it is kissing the underside of old support as resistance now, near the 50% retracement level of the large decline over the past few weeks.

Why could th...



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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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OpTrader

Swing trading portfolio - week of August 24th, 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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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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