The U.S. International Trade Commission said on Thursday it launched an investigation into complaints by United States Steel Corp <X.N> that Chinese competitors stole its trade secrets, engaged in price fixing and misrepresented the origin of their exports to the United States.
One hundred and twenty years after its birth, the Dow Jones Industrial Average is as relevant as ever. There’s hardly a news story about the American stock market that doesn’t mention the index’s industrial average.
A fund controlled by LendingClub Corp. that invests in the company’s online consumer loans suffered one of its worst monthly performances for April and disclosed it was buying riskier loans than originally intended, according to letters reviewed by The Wall Street Journal.
During the Live Trading Webinar, we shorted the Nikkei (/NKD) Futures at the 17,000 line, and we made a live $525 gain on /NKD along with another $580 on our Natural Gas (/NG) Futures longs. Making over $1,000 in a 2-hour webinar (plus another $110 on the Dow shorts) was plenty to lock in at the time!
00:02:30 AAPL stock, Trade Ideas, Long -Term Portfolio
00:08:40 Long-Term Portfolio: Trade Ideas
00:22:00 Checking on the Markets: NG, NKD, DOW,
00:25:36 Impact on Dollar inflation
00:29:54 Brexit, Rate hike in June
00:33:00 Spike result
00:33:45 SQQ calls
00:34:10 Futures Trade
00:36:14 Re-Invest in Dividends
00:42:30 TSLA: Gigantic Ponzi Scheme
00:44:32 TGT, HPQ, Short-Term Portfolio
00:49:54 Inflation is good for gold?
00:54:40 Low Rates
00:55:20 Checking on markets
00:56:05 Self-Driving Cars
01:01:52 Bullish on Gold or Nugget
01:03:16 Selling puts: The stock drops below the stike price. Now what? Buy the stock, roll the puts, or just get out? If the stock is AAPL, your approach would likely be different than if the stock was VRX.
01:06:30 Biotechs, printing organs, game-changing technlogy. Will we be able to 3-print a person, like in Star Trek?
01:10:45 Dollar – Upward pressure.
01:12:52 Oil report this morning – Mixed.
01:15:45 Oil, Natural Gas contracts
01:15:57 Checking on energy trades, Nikkei (NKD), Dollar (DX)
01:19:25 Brent crude oil – will it punch through $50? Don't just trade on technical factors. Evaluate the whole situation.
01:21:45 If the DX goes down that is bad for the NKD. DX down, Yen up…
01:22:25 Manipulation in the oil market will never stop. It's all BS but it's a game we all agree to play.
01:25:30 Futures. Example of Phil taking a big loss on oil when something blew up.
01:31:10 DX, NKD, currencies and risks.
01:34:45 SDS (SDS reflects S&P 500, subject to decay).
01:36:56 Digital Currencies – We're on Scandal-Watch, but Phil likes Greenbank Capital. It's important to get in a Ponzi scheme early!
01:45:39 Checking on the Market
Speaking of Trump – I like the fact that he said he'd debate Sanders in California for $10M (for charity) – it's good to pull back the curtain and demonstrate what a joke this whole process is. Certainly I wouldn't be surprised if networks are already bidding for the rights.
Markets/Pat – My take is this is a low-volume, BS rally that will likely keep up to close the month next Tuesday but that we can only ignore reality for so long before it bites us in the ass. Smart money has already left the market – if you are in, you are with the dumb money crowd.
And what Lunar said I said.
/NG/Japar – I like it there but not below so only good to play if you're going to keep stops. Personally, I'd rather go out for dinner.
Here are some charts from InsiderCow.com showing that insider activity is relatively low, both buying activity and selling activity. Some notable buys recently were in ENDP (a mini-Valeant), FEYE, and AVID.
Oil/Jabob – I'm happy to get 0.50 out of the deal ($49.50), so that's a stop now (and we can play that line below with tight stops if it goes back over).
GOGO/Hanj – Nice, 10% pop!
Great for the OOP – that thing is cruising now:
SJB – Fell off sharply as people get complacent about JNK, I still like this trade but $1,400 is enough to risk.
ABX – Just waiting for those to expire.
FCX – Also just waiting.
TGT – New one.
USO – Waiting.
WSM – Big part of our recent gains.
SDS – Sept hedge.
SQQQ – June hedge.
TZA – July hedge. On this one, we may was well invest and roll the July $42 calls ($2) to the October $37 ($6)/45 ($3.90) bull call spread at $3.10 so we spend $1.10 to be $1.95 in the money with 3 more months of insurance.
UNG – A bit off track but the spread is even at the moment.
TLT – On track
USO – On track
AAPL – On track and I didn't log the cover of 5 short July $97.50 calls at $3.70 (now $4.20).
BHI – Love them
BID – What a comeback!
DIS – Already zooming higher.
GOGO – Fantastic today.
HOV – I still have faith.
IMAX – Very happy with these.
LABU – We're stuck with the pre-split options but I'm fine with it our target and time-frame.
Brent crude oil topped $50 a barrel for the first time in nearly seven months on Thursday lifting commodity and energy-related shares in Europe and Asia though worries about U.S. interest rates and signs of slowdown in China limited gains.
The divergence in monetary policy between the U.S. Federal Reserve and other major central banks has been generally priced in, St. Louis St. Louis Federal Reserve President James Bullard said on Thursday.
After the Great Recession of 2008, the climate was ripe for populism. Americans were pissed off. The same people who wrecked the economy were, once again, rewarded for their recklessness. The logic of “too big to fail” made sense, but the reality was that these institutions were too big for justice. Necessary or not, the bailouts were an affront to the people whose livelihoods were plundered by the banks.
I repeat this Jeff Gundlach quote a lot because I love it and it constantly applies to something: “Whenever you hear people in the investment business say ‘Never’, that’s when you know it’s about to happen.”
The Dow is 2.6% away from record highs now that we’re through the fairly lousy earnings season. The SPX is even closer, just 2% away. There’s no reason. Anything can happen.
We’re getting a really great reminder of this every night, courtesy of the NBA East and West finals. Golden State barely lost a game in the regular season and pretty much manhandled their opponents in the first two rounds of the post-season. They broke dozens of records, both as a team and on an individual basis. Steph made 400 3-pointers, beating his previous record of 200 or something like that.
Now they can’t win a game against OKC. They can’t even win a quarter. They can’t shoot, they can’t rebound and they sure as hell can’t stop Westbrook and Durant. They can’t even stop the Thunder role-players. Two weeks ago they looked invincible. Now they need to win two straight just to stay alive.
Look north. The Cavs are now tied at 2-2 against Toronto. Another impossible situation. Cleveland swept the rest of the East in the first two rounds and it seemed like destiny that LeBron would face Steph Curry in the finals. He can’t even face f***ing Drake. Toronto is playing miraculous basketball while Kevin Love disappears and Kyrie Irving hits the front of the rim. It’s astonishing.
If present trends continue, the Raptors will be playing the Thunder in the finals and LeBron will be watching from a Buffalo Wild Wings. Let’s hope not, for the NBA’s sake. I think it’s clear they wanted expected CLE vs GS, but they very well may not get it.
Expect the unexpected.
And now, about that rate hike in June the Fed “definitely won’t” be doing…
What is all the fuss about? Sullivan, in critiquing the Donald Trump phenomenon and the political factors that gave rise to it, makes a few good points, but buries them under a ridiculous premise: The culprit responsible for Trump is too much democracy, and the cure is more elite control of the political process.
Sullivan gets everything backward. It is as if a safety inspector had gone aboard RMS Titanic, minutely examined her watertight hatches, boiler and steam turbine, and then declared her safe because he judged that the lack of lifeboats reduced the chances of capsizing from too much top weight.
In a nutshell, Sullivan attributes Trump’s nomination for the presidency by one of our two major parties to the rise of what he calls “hyperdemocracy.” Accompanying this alleged excess of democracy is a mania for equality that leads to all manner of pointless leveling of social classes along with an undermining of authority. As chief witness for the prosecution, he calls to the stand no less than Plato, who argued that the ripening of democracy births manifold horrors like gender equality, the treatment of foreigners as equals, an abatement of cruelty to animals, and the rich mingling freely with the poor.
One wonders if Sullivan could have cited a more relevant critic of the contemporary political system of a continent-sized nation with 320 million people than a metaphysician dwelling in a tiny city-state more than 2,400 years ago. And a rather implausible critic at that: the bedrock of Plato’s philosophy was his belief that physical objects and events are mere shadows of their ideal forms, which exist only insofar as they crudely simulate the perfect idealizations of themselves.
This kind of patently silly epistemology may make for a great debate topic at the Oxford Union,…
The side effects of Negative Interest Rate Policies in Europe and Japan — what we’ve come to call the NIRP absurdity — are becoming numerous and legendary, and they’re fanning out across the globe, far beyond the NIRP countries.
I have recently posted a piece in which I tried to debunk a few popular myths about modern warfare. Judging by many comments which I received in response to this post, I have to say that the myths in question are still alive and well and that I clearly failed to convince many readers. What I propose to do today, is to look at what Russia is really doing in response to the growing ...
The most widely-reported result of the recent G-7 meeting was Japan’s attempt to convince the other major economies to admit that a crisis is imminent and take appropriately radical steps. The response seems to have been a bunch of blank stares. As India’s Business Standard noted:
G7 pact offers minimal cover for Abenomics reset A Group of Seven compromise offers minimal cover for Shinzo Abe. The Japanese prime minister’s plan to revitalize the world’s third-largest economy needs fresh impetus. Abe didn’t get as much international backing as he might have liked from hosting the rich nations’ club. But, the summit communique can, just about, be spun his way.
Seven of the eight indexes on our world watch list posted gains over the past week, up from five the week before, and the average of the eight was an impressive 2.60%. India's SENSEX was the outstanding out performer with a 5.34% surge, and three indexes, France's CAC 40, the Hong Kong's Hang Seng and Germany's DAXK closed the week with gains in the mid-three percents. China's Shanghai was the sole loser with its fractional 0.16% decline. Japan's Nikkei had the second worse performance with a modest gain of 0.59%. Incidentally, the Nikkei about 4% below its late January close when the Bank of Japan adopted its negative interest rate policy.
By Jacob Wolinsky. Originally published at ValueWalk.
Billionaire Stephen Schwartzman How To Spot the Trends that Other Miss
Published on Mar 27, 2016
Billionaire Stephen Schwartzman How To Spot the Trends that Other Miss [HD]
Stephen Allen Schwarzman (born February 14, 1947) is an American business magnate and financier. He is the chairman and CEO of the Blackstone Group, a global private equity and financial advisory firm he established in 1985 with former US Secretary of Commerce Pete Peterson. His personal fortune is estimated at $12.9 billion, according to Forbes.As of 2015, Forbes ranked Schwarzman at 100th on its World’s Billionaires List.
The rally in mining stocks since the first of the year has been very impressive.
The rally has taken Gold Miners ETF GDX up to test the 23% retracement of the collapse over the past 5-years. At the same time it is hitting the 23% level, two other resistance lines are being put to a test, with momentum at the highest levels in the past 5-years.
Graham Media Group, Inc., a Graham Holdings Company (NYSE: GHC) subsidiary, said it struck a deal with Nexstar Broadcasting Group, Inc. and Media General, Inc. to purchase WCWJ, a CW affiliate television station in Jacksonville, Florida and WSLS, an NBC affiliate television station in Roanoke, Virginia for $60 million in cash and the assumption of certain liabilities.
The agreement to acquire Nextar Broadcasting included pension obligations. Graham Media Group, Inc. would continue to operate both stations under their current network affiliations.
Graham Media said the acquisition is subject to approval by the FCC, other regulatory appr...
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Do you remember when you were growing up and all your friends were allowed Atari game consoles but you weren’t?
Well, I do and the things seemed as foreign to me as Venus. Mostly because the little time I managed to spend on the gaming consoles when my friends weren’t hogging them I found it all a bit silly. I never “got” computer games, and to this day still have poor comprehension of things like Angry Birds.
I suspect that many people around the world view Bitcoin in the same way as I view Angry Birds: with mild amusement and a general lack of understanding as to what the hell all the fuss is about.
I was thinking of this since a buddy of mine recently started ...
After a three-year bull run that more than quadrupled its value by its peak last July, IBD’s Medical-Biomed/Biotech Industry Group plunged 50% by early February, hurt by backlashes against high drug prices and mergers that seek to lower corporate taxes.
Although we try to stay focused on finding and managing promising trade ideas, the comments in the comment section sometimes take a political turn (for access, try PSW — click here!). So today, Jean Luc writes,
The GOP debate last night was just unreal – are these people running to be president of the US or to lead a college fraternity! Comparing tool size? The only guy that looks semi-sane is Kasich. The other guys are just like 3 jackals right now.
And something else – if Trump is the candidate, that little Romney speech yesterday is probably already being made into a commercial. And all these little snippets from the debate will also make some nice ads! If you are a conservative, you have to be scared now.
Phil writes back,
I was expecting them to start throwing poop at each other &n...
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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.
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