Archive for the ‘Permissions’ Category

Meet “Buzz” Draghi: To Infinity and Beyond

Courtesy of Mish.

Mario Draghi, Monetarist Mule

The never-ending push for 2% price inflation is absurd to the point of being counterproductive.

However, stubborn central bank mules don’t care about history or common sense. They just keep doing what their fatally flawed model says they should do.

The ECB’s stubborn mule, a Downbeat Draghi, is Ready to Beef Up Quantitative Easing Package.

The euro and eurozone government bond yields plunged on Thursday after the ECB president indicated it stood ready to extend the “size, composition and duration” of its €1.1tn bond-buying programme.

“We are observing a weakening of the prospects of the Chinese economy,” Mr Draghi said. “This has two effects substantially: one is through trade . . . and the confidence effect on the stock market and all other financial markets.”

In a sign of policymakers’ willingness to reinforce their QE package, the ECB raised the purchase limit of a single country’s debt stock from 25 to 33 per cent. That decision should remove some of the constraints on central bankers in member states such as Germany, where the government has voiced its reluctance to issue more debt in the coming years.

Inflation forecasts for this year were revised downwards to 0.1 per cent, from the 0.3 per cent estimate in June, 1.1 per cent next year from 1.5 per cent, and 1.7 per cent in 2017 from 1.8 per cent. The central bank targets inflation of just below 2 per cent.

Growth forecasts were revised down to 1.4 per cent this year, from 1.5 per cent, 1.7 per cent in 2016 from 1.9 per cent and 1.8 per cent in 2017 from 2 per cent.

At the moment, the central bank plans to buy about €60bn worth of mostly government bonds each month until September 2016. In a further sign of intent, Mr Draghi said for the first time that the purchases were intended to run until then “or beyond, if necessary”.

Infinity and Beyond

If QE doesn’t produce 2% inflation (and it hasn’t worked for going on three decades in Japan, and half a decade in the US) then Draghi’s clear intention is to keep doing what has not worked here, there, or anywhere, until it does work.

To infinity and beyond,” said Draghi….



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Paul Craig Roberts: The Rise Of The Inhumanes

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Paul Craig Roberts,

America’s descent into totalitarian violence is accelerating. Like the Bush regime, the Obama regime has a penchant for rewarding Justice (sic) Department officials who trample all over the US Constitution. Last year America’s First Black President nominated David Barron to be a judge on the First US Circuit Court of Appeals in Boston.

Barron is responsible for the Justice (sic) Department memo that gave the legal OK for Obama to murder a US citizen with a missile fired from a drone. The execution took place without charges presented to a court, trial, and conviction. The target was a religious man whose sermons were believed by the paranoid Obama regime to encourage jihadism. Apparently, it never occurred to Obama or the Justice (sic) Department that Washington’s mass murder and displacement of millions of Muslims in seven countries was all that was needed to encourage jihadism. Sermons would be redundant and would comprise little else but moral outrage after years of mass murder by Washington in pursuit of hegemony in the Middle East.

Barron’s confirmation ran into opposition from some Republicans, some Democrats, and the American Civil Liberties Union, but the US Senate confirmed Barron by a vote of 53-45 in May 2014. Just think, you could be judged in “freedom and democracy America” by a fiend who legalized extra-judicial murder.

While awaiting his reward, Barron had a post on the faculty of the Harvard Law School, which tells you all you need to know about law schools. His wife ran for governor of Massachusetts. Elites are busy at work replacing law with power.

America now has as an appeals court judge, no doubt being groomed for the Supreme Court, who established the precedent in US law that, the Constitution not withstanding, American citizens can be executed without a trial.

Did law school faculties object? Not Georgetown law professor David Cole, who enthusiastically endorsed the new legal principle of execution without trial. Professor Cole put himself on the DOJ’s list of possible federal judicial appointees by declaring his support for Barron, whom he described as “thoughtful, considerate, open-minded, and brilliant.”

Once a country descends into evil, it doesn’t emerge. The precedent for Obama’s appointment of Barron was George W. Bush’s appointment of Jay Scott Bybee to the US Court of…
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Losing Faith? Traders Dump Japanese Stocks At Fastest Pace In History

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

The narrative of the omnipotent central banker continues to be questioned with China's inability to save its own market the latest incarnation of investors losing faith. Nowhere has the religious zealotry been more fervent than in trading Japanese stocks where Abe and Kuroda have broken every independent rule in their manipulation of wealth-giving stocks. However – it appears their time is up, as Bloomberg reports, foreigners dumped 1.43 trillion yen of Japanese equities in the three weeks through Aug. 28, Tokyo Stock Exchange data updated Thursday show. That’s the most for any three-week span on record, overtaking the period when Bear Stearns Cos. collapsed in 2008.

Global investors are pulling money out of Japan’s equity market at the fastest pace since at least 2004, according to Mizuho Securities Co. As Bloomberg details,

Foreigners last week sold a net 1.85 trillion yen ($15.4 billion) of Japanese stocks and equity index futures, the biggest combined outflow since Mizuho began tracking the data more than a decade ago, said Yutaka Miura, a Tokyo-based senior technical analyst at the brokerage. Investors are fleeing amid concern about China’s economic outlook and the prospect of higher interest rates in the U.S., he said.

“This is a result of investors dumping global risk assets,” said Miura. “Japanese stocks have performed well since the start of the year, so similar to what’s happening in Europe, we’re seeing people take profits.”

Foreigners dumped 1.43 trillion yen of Japanese equities in the three weeks through Aug. 28, Tokyo Stock Exchange data updated Thursday show. That’s the most for any three-week span on record, overtaking the period when Bear Stearns Cos. collapsed in 2008.

Net stock sales totaled 707 billion yen last week, and investors also reduced positions in index futures by 1.14 trillion yen, exchange data show. Cumulative flows for 2015 are still positive, with foreigners buying a net 1.1 trillion yen of equities through last week.

As one local broker noted,

“The sell-off started in China," Clarke said. “Investors couldn’t sell there in the end so selling spread to Asia, and Japan especially as it has a greater liquidity. This eventually spread to Europe and the U.S.”

Time for some moar QQE Mr. Kuroda? Oh wait – you can't!!





Why China Liquidations May Not Spike US Treasury Yields

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Via Scotiabank’s Guy Haselmann

There has been quite a bit of market chatter this week about how central bank selling of foreign exchange (FX) reserves could cause Treasury yields to soar. The market has branded this action ‘Quantitative Tightening’; borrowing the term from a note written by a London-based markets strategist.  Investors seem quick to conclude that it will result in higher yields on Treasury securities. I disagree with this simplified assumption and will use this note to explain why.

Yes, I remain bullish on long-dated Treasuries securities.    

First some facts. No one disputes that central banks have been selling reserves. Aggregate global foreign exchange reserves fell to $11.43 trillion in Q1 from $11.98 trillion last summer. The aggregate amount most likely fell even further in Q2 and Q3 as Chinese economic growth concerns impacted global markets. These reserves are mostly held in G7 currencies, 64% percent of which are held in US dollars. Since the aggregate amount is measured and reported in US dollars, it should be noted that part of the decline is due to the fall in dollar terms of the reserves held in euros and yen. 

To understand its impact on Treasuries – or German, UK, or Japanese bonds for that matter – it is important to understand why central banks have been selling. The decline (selling) is driven by a combination of factors, such as: a Chinese economic slowdown; the preparation of a looming Fed interest rate hike; the Renminbi devaluation; a depreciating domestic currency; capital outflows; and lower revenues from collapsed commodity prices.

How do these factors lead to the selling of FX reserves?  Put simply, some countries are selling reserves in an attempt to either support falling local currencies or to offset capital flight. If an investor, for example, sells a Renminbi asset for dollars, China can sell some Treasuries to buy the Renminbi and support its currency and currency peg. If the investor chooses to invest the USD into Treasuries, then there is no net effect.

More importantly, a probable driving force behind this transaction could be that the outlook for economic growth and inflation has fallen. In addition, there may simply be a flight to the safety of Treasuries in a world of growing central bank and political uncertainty (and one of greater
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The 2030 Agenda: This Month The UN Launches A Blueprint For A New World Order With The Help Of The Pope

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Michael Snyder via The End of The American Dream blog,

Did you know that the UN is planning to launch a “new universal agenda” for humanity in September 2015?  That phrase does not come from me – it is actually right in the very first paragraph of the official document that every UN member nation will formally approve at a conference later this month.  The entire planet is going to be committing to work toward 17 sustainable development goals and 169 specific sustainable development targets, and yet there has been almost a total media blackout about this here in the United States. 

The UN document promises that this plan will “transform our world for the better by 2030“, and yet very few Americans have even heard of the 2030 Agenda at this point.  Instead, most of us seem to be totally obsessed with the latest celebrity gossip or the latest nasty insults that our puppet politicians have been throwing around at one another.  It absolutely amazes me that more people cannot understand that Agenda 2030 is a really, really big deal.  When will people finally start waking up?

As I discussed in a previous article, the 2030 Agenda is taking the principles and goals laid out in Agenda 21 to an entirely new level.  Agenda 21 was primarily focused on the environment, but the 2030 Agenda addresses virtually all areas of human activity.  It truly is a blueprint for global governance.

And later this month, nearly every nation on the entire planet is going to be signing up for this new agenda.  The general population of the planet is going to be told that this agenda is “voluntary” and that it is all about “ending poverty” and “fighting climate change”, but that is not the full story.  Unfortunately, there is so much positive spin around this plan that most people will not be able to see through it.  Just check out an excerpt from a piece that was published on the official UN website yesterday…

The United Nations General Assembly today approved a resolution sending the draft ‘2030 Agenda for Sustainable Development’ to Member States for


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US Equity Futures Mini-Flash-Crash As Japanese Econ Minister Opens Mouth

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Just as the machines had learned the “Buy when Japan opens” signal, Japanese leaders unleash their usual stream of utter tripe and break the bid. Tonight’s chosen member was Japanese Economy Minister Amari who said “it is important for markets to act calmly, not move in a volatile manner,” adding “stock markets are not reflecting fundamentals,” reflecting on the fact that G-20 ministers had discussed China and “monetary tightening was likely in some advanced countries.” This sparked a plunge in USDJPY and an instant 100-point plunge in Dow futures.

US equity futures mini-flash-crash

Led by USDJPY…

It appears the admission that an advanced nation was likely to tighten combined with his calls for calm were seen as increasing the odds of a rate hike being imminent for The Fed.

It looks like The BoJ will have to get back to work tonight, since China is still on holiday. As it appears Kuroda likes this level (the red dashed line)…

Charts: Bloomberg





Flashpoint: White House Confirms Russian Presence In Syria, Warns It Is “Destabilizing”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Two days ago we reported something which we had anticipated for a long time but nonetheless did not expect to take shape so swiftly: namely, that with Assad’s regime close to collapse and fighting a war on three different fronts (one of which is directly supported by US air and “advisor” forces), Putin would have no choice but to finally intervene in the most anticipated showdown in recent history as “Russian fighter pilots are expected to begin arriving in Syria in the coming days, and will fly their Russian air force fighter jets and attack helicopters against ISIS and rebel-aligned targets within the failing state.”

This was indirectly confirmed the very next day when an al-Nusra linked Twitter account posted pictures of a Russian drone and a Su-34 fighter jet – the kind which is not flown by the Syrian air force – flying over the Nusra-controlled western idlib province.

Another twitter account said to have captured Russian soldiers in Zabadani “while fighting for Assad”

Also, one day after our report, the Telegraph reported that “Syrian state TV reportedly broadcasts footage of Russian soldiers and armoured vehicle fighting alongside pro-Assad troops.” According to the article, “the video footage claimed to show troops and a Russian armoured vehicle fighting Syrian rebels alongside President Bashar al-Assad’s troops in Latakia. It is reportedly possible to hear Russian being spoken by the troops in the footage.”

It added that “a Russian naval vessel was photographed heading south through the Bosphorus strait carrying large amounts of military equipment, according to social media and a shipping blog” while “an unnamed activist with the Syrian rebel group the Free Syrian Army told The Times: “The Russians have been there a long time.

“There are more Russian officials who came to Slunfeh in recent weeks. We don’t know how many but I can assure you there has been Russian reinforcement.” “

Then earlier today we got the closest thing to a confirmation from the White House itself which confirmed that “it was closely monitoring reports that Russia is carrying out military operations in Syria, warning such actions, if confirmed, would be “destabilising and counter-productive.

Obama spokesman Joshn Earnest essentially confirmed Russia was already operating in Syria when he said that “we are aware of…
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Why Economics Matters

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Jeff Deist via The Mises Institute,

This article is a selection from a June 19 presentation at a lunchtime meeting of the Grassroot Institute in Honolulu at the Pacific Club. The talk was part of the Mises Institute’s Private Seminar series for lay audiences. To schedule your own Private Seminar with a Mises Institute speaker, please contact Kristy Holmes at the Mises Institute.

First let me say that what we today call “Austrian economics” flows from the great legacy of classical economics, with the very important modification economists now call the “marginal revolution.” Austrian economics is also a term that describes a healthy and vibrant (though often oppositional) modern school of economic thought. It originated with intellectual giants like Carl Menger and Ludwig von Mises, names I’m sure many of you are familiar with. These economists were from Austria, hence the term.

There was a landmark conference at South Royalton, Vermont in 1974, attended by the likes of Murray Rothbard and Milton Friedman, that revitalized the Austrian movement and helped it regain prominence in the latter part of the twentieth century. Milton Friedman was in attendance, and that’s when he famously remarked that “There is only good economics and bad economics.”

And of course that’s true. Schools of thought should not be rigid, or dogmatic, or too narrowly defined. But classifying various economists and theories into groups or family trees does indeed help us make sense of economics. It helps us understand how we arrived at a time and place where Ben Bernanke, Paul Krugman, Thomas Piketty, and Christine Lagarde are viewed as modern mainstream thinkers rather than the radicals they are when compared to the whole history of the field.

Image courtesy of Peter Cresswell.

We supplied some photocopies that roughly trace the history of economic thought. Notice the split in the 1930s, not coincidentally during the Great Depression, between Mises and John Maynard Keynes. Up until then, from about 1850 forward, Austrian economics was mainstream economics. But as you can see, most of today’s mainstream economists fall somewhere under the umbrella of Keynes, and they tend to focus on variants of Keynes’s ideas about aggregate demand.

But at least they focus on something!

Ignorance of Economics Is not Bliss

Which leads me to my topic today: “Why Any Economics Matters.” I say “any” because at this point the entire subject appears to be lost on the average American. Economics is not a popular topic among the


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Turkey Arrests Journalists, Sets Up Terrorist “Tip Line” As Currency Plunges, Violence Escalates

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Last month, Turkey’s central bank had a chance to give the plunging lira some respite by preempting the Fed and hiking rates.

Only they didn’t.

And not only did they not hike, they made it clear that tightening would only occur once the Fed tightened and then made matters immeasurably worse by proceeding to stumble through a “roadmap” of how they planned to deal with DM policy normalization. That, combined with political turmoil, an escalating civil war (and yes, that’s what it is), and pressure on EM in general has led directly to further weakness for TRY:

We bring this up because Turkey, like Brazil, is a country to keep an eye on and not only because of the prominent role it will ultimately play in deciding the fate of Syria’s Bashar al-Assad, but because much like Brazil, things seem to get worse by the day both economically and politically. Take Thursday for instance, when inflation came in hot, prompting Goldman to suggest that the central bank had indeed missed its window. Here’s Goldman:

Headline and core inflation accelerated sequentially in August, on broad-based price increases. This trend will likely continue, as renewed exchange rate weakness passes through to domestic prices in the coming months, and food disinflation loses momentum. We continue to forecast end-2015 CPI at 8.2% but with moderate upside risks.

In our view, the CBRT may have missed an opportunity to start normalising/simplifying its policy framework by keeping all policy rates unchanged in the August MPC meeting. This raises the risk of earlier and more aggressive rate hikes than we have been forecasting. We reiterate our long-held Conviction View to own Turkey protection, through 5-year CDS spreads.

And a bit more from Credit Suisse:

We are revising our headline inflation forecasts higher. Following the lira’s depreciation in August and the recent upside surprises to food price inflation, we are revising our end-2015 inflation forecast to 8.6% from 7.8% previously and our end-2016 inflation forecast to 7.4% from 7.2% previously. 

And for a more general assessment of the growing economic malaise we got to BofAML: 

Turkish macro seems to be facing a perfect storm as both domestic and external uncertainties are weighing down on GDP growth. The run rate of GDP growth has slowed down to 2%,


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Peak Obedience

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Paul Rosenberg via FreeMansPerspective.com,

Warnings about Peak Oil have circulated widely in recent years, and if accurate, they are important. Peak oil, however, pales in comparison to something that’s happening right in front of us… and something that is a good deal more dangerous: Peak Obedience.

If that concept strikes you as odd, I can understand why: We’ve all been living inside of an obedience cult. (And I choose these words carefully.)

In our typical “scary cult” stories, we find people who have given up their own functions of choice and who then do crazy things because they are told to by some authority. While inside their cult, however, it all makes sense; it’s all self-reinforcing.

So, inside a cult of obedience, obedience would seem proper; it would seem righteous; and more than anything else, it would seem normal. And I think that very well describes the Western status quo.

Obedience, however, should not seem normal to us. Obedience holds our minds in a “child” state, and that is not fitting for any healthy person past their first few years of life. It also presupposes that the people we obey have complete and final knowledge; and in fact, they do not: politicians, central bankers, and the other lords of the age have been wrong – obviously and publicly wrong – over and over.

So, obedience is not a logical position to take. But we all know why we take it; and that reason is fear. The mass of humanity obeys because they are afraid to do otherwise. All the “philosophy of governance” explanations are merely attempts to distract us from the truth: people believe they’ll be hurt if they don’t obey.

We are taught not to think in such stark terms, of course. Those “philosophy of governance” explanations give us reasons to believe that obedience is the good and heroic thing to do. Still, we know the truth.

But that truth about fear, even though important, is not the point I’d like you to take away from this article. My primary point is this:

When we obey, we make ourselves less conscious; we make ourselves less alive.

Why Obedience Is Peaking

I covered this in far more depth in issue #40 of my subscription letter, but I would like to…
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Phil's Favorites

Meet "Buzz" Draghi: To Infinity and Beyond

Courtesy of Mish.

Mario Draghi, Monetarist Mule

The never-ending push for 2% price inflation is absurd to the point of being counterproductive.

However, stubborn central bank mules don't care about history or common sense. They just keep doing what their fatally flawed model says they should do.

The ECB's stubborn mule, a Downbeat Draghi, is Ready to Beef Up Quantitative Easing Package.
The euro and eurozone government bond yields plunged on Thursday after the ECB president indicated it stood ready to extend the “size, composition and duration” of its €1.1tn bond-buying programme.

“We are observing a weakening of the prospects of the Chinese economy,” Mr Draghi said. “Th...



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Zero Hedge

Paul Craig Roberts: The Rise Of The Inhumanes

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Paul Craig Roberts,

America’s descent into totalitarian violence is accelerating. Like the Bush regime, the Obama regime has a penchant for rewarding Justice (sic) Department officials who trample all over the US Constitution. Last year America’s First Black President nominated David Barron to be a judge on the First US Circuit Court of Appeals in Boston.

Barron is responsible for the Justice (sic) Department memo that gave the legal OK for Obama to murder a US citizen with a missile fired from a drone. The execution took place without charges presented to a c...



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Chart School

Sellers Make Late Claim

Courtesy of Declan.

Traders hadn't forgotten the events of last week and were quick to sell their positions in the face of tomorrow's NFP data.

Today's close in the S&P left a bearish inverse doji (gravestone doji), marking supply above 1,950. Bears will feel confident heading into tomorrow's data, assuming Thursday's 1,975 high is not breached. The downside target is a retest of 1,867. A move higher will set up a challenge of 2,044.


The Nasdaq had a quieter day. It didn't suffer the same wide range as the S&P, but today's close finished with a bearish 'cloud cover' over yesterday's trading. Shorts will be liking the risk:reward for a ret...

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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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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Charting the Markets: China Respite (Bloomberg)

China watchers are taking a breather with the nation's markets closed to commemorate the end of World War II. Attention now turns to today's European Central Bank monetary policy meeting in Frankfurt and Friday's U.S. jobs report. Global stocks, as measured by the MSCI All-Country World Index, gained for a second session after after a two-day 3.3 percent drop.

...



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Kimble Charting Solutions

Change investment allocations due to .2% of a move?

Courtesy of Chris Kimble.

Can you believe that its a really big deal to some if an index is down 9.9% from it highs (non correction territory) or if its down 10.1% (correction territory).  Does .2% constitute that we make a different allocation decision? Are you kidding me?

Do you find yourself agreeing more with the person on the left or right? I am in the camp with Lou on the right. Should we make investment decisions based upon a term (correction)? Not me

CLICK ON CHART TO ENLARGE

This chart looks at the Dow since 2010 ...



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OpTrader

Swing trading portfolio - week of August 31st, 2015

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

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Sabrient

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

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

Courtesy of Sabrient Systems and Gradient Analytics

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



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ValueWalk

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

By Mark Melin. Originally published at ValueWalk.

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

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

While so...



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Digital Currencies

Bitcoin Battered After "Governance Coup"

Courtesy of ZeroHedge. View original post here.

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



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Pharmboy

Baxter's Spinoff

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

Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).

The Baxalta Spinoff

By Ilene with Trevor of Lowenthal Capital Partners and Paul Price

In its recent filing with the SEC, Baxter provides:

“This information statement is being ...



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Mapping The Market

An update on oil proxies

Courtesy of Jean-Luc Saillard

Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself. 

Since...



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Promotions

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

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

 

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

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

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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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