Posts Tagged ‘BATFE’

Is It Time To Put A Fork In The BATFE?

Watch the video below too.  In this case, felony murder rules would not likely apply because there was no intent. It sounds more like "Project Gunwalker" was a disasterous plan from the beginning that worked out, not surprisingly, disasterously. – Ilene 

Courtesy of Karl Denninger, The Market Ticker 

I’ve been following the Project Gunwalker story for a while.

For those who are not familiar with it, the story line is this: The BATFE, that’s right – the Federal Government - has been intentionally allowing "straw sales" of rifles and pistols to go through and then letting those guns be transported to Mexico.

These are sales where the person doing the buying isn’t the actual intended owner of the weapon.  These guns are often bought in bulk, many at a time.  It’s not illegal to buy a lot of guns, even all at once, but it is a felony to buy them for someone else.

Anyway, BATFE was allegedly allowing this to go on and approving sales they knew were bogus.  Starting in 2009 several gun stores started getting suspicious – they were having people come in and paying with cash – sometimes with cash in paper bags – for multiple guns at once.  Specifically, it is alleged that over five hundred AK-47 semi-automatic rifles and over 2,500 weapons in total, including rifles and pistols, were purchased in this manner.

The claim is made that the BATFE literally watched the sales happen, each checked through NICS’ "background check", each approved, despite being alerted by the gun store owners that the sales were suspicious. 

The stores were told to proceed with the sales intentionally.

Let me repeat this: The allegation is that the BATFE intentionally allowed these weapons to be purchased despite knowing they were fraudulent straw purchases and then allowed them to be unlawfully transported into Mexico where they were delivered to various Mexican outlaws – including drug gangs.

Remember, we’ve been told that a lot of guns that Mexican drug lords are using are coming from the US?  Well, no kidding, they are, if this allegation is correct: Our own government was knowingly allowing them to be purchased and illegally transported across the border.

That’s bad.

What’s worse is this:

Then, Border Patrol Agent Brian Terry was murdered. The serial numbers on the two assault rifles found at the scene matched two rifles ATF watched Jaime Avila buy in Phoenix nearly a year before. Officials won’t answer whether the bullet that killed


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Zero Hedge

Volatility, Confusion Reign As PBoC Intervenes: Chinese Stocks Surge Then Tumble

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

"Rainbows always appear after rains," China's state media said over the weekend, in a blatant attempt to create the conditions for a self-fulfilling prophecy when the country's battered equity markets opened for trading on Monday. 

China's brokers and mutual funds each took steps on Saturday to help stabilize the market which has collapsed 30% in just three weeks, thanks in part to a massive unwind in the shadowy world of backdoor margin lending.

On Sunday, the China Securities Regulatory Commission ...



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Phil's Favorites

Shades of Roosevelt: Greece Safety Box Controls; Cash in Hand is King

Courtesy of Mish.

Back in January, I warned Greek citizens to take money out of Greek banks. I also warned not put it in safe deposit boxes. Both comments were dead-on accurate.

Greece Safety Box Controls

Please consider Greeks Cannot Tap Cash in Safe Deposit Boxes Under Capital Controls.
Greeks cannot withdraw cash left in safe deposit boxes at Greek banks as long as capital restrictions remain in place, a deputy finance minister told Greek television on Sunday.

Greece's government shut banks and imposed capital controls a week ago to prevent the country's banks from collapsing under the weight of mass withdrawals.

Deputy Finance Minister Nadia Valavani told Alpha TV that, as part of those measures, the go...



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Digital Currencies

Bitcoin Surges After Initial Forecasts Show "No" Vote Ahead

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

If the early bitcoin markets are an indication of what will happen once New Zealand opens for illiquid FX trade, it will be a risk off kinda day.

And that doesn't even take into account the pandemonium that will be unleashed in China in a few hours after the PBOC just went all-in to halt the crashing stock market. What if it fails to get a green close before tomorrow's US open?

Source: ...



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Insider Scoop

Russian Inflation Expected To Continue To Fall

Courtesy of Benzinga.

Related RSX Russia's Gazprom Reportedly Shuts Off Gas Delivery To Ukraine ETF Investors Aren't Afraid Of Greek Default Snake Oil Stats (Seeking Alpha)

In a report published Friday, Barclays analyst Daniel Hewitt explained that the infl...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

China's slowdown is bad news for the world's big industrial exporters (Business Insider)

China's slowing economy is a serious concern for the economies of the nearly 50 nations that count China as their top export destination.

According to economists at UBS, not only will it impact the countries where the goods are coming from, but individual industries will also be hit harder than others.

Brett Arends's ROI: Why I’d vote ‘no’ ...



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Chart School

Chinese SSEC rally with Wyckoff Logic

Courtesy of Read the Ticker.

Supply and demand is the leading force within stock prices, you must know the tea leaves. Richard Wyckoff logic is the only known method of understanding supply and demand with the stock market.Readtheticker.com provides all the tools you need to be a Wyckoff master analyst.More from RTT Tv

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

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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

Shanghai index creates historic reversal pattern like 2007

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

Much of the attention around the world seems to be revolving around a small country called Greece. What about the most populated country in the world (China), any key messages coming from there of late?

Well another Month, Quarter and Half a year are in the books. With this in mind I wanted to look at Monthly action of the hottest stock market in the world, the Shanghai Index. Above looks at the Shanghai index over the past 25-years. The 100%+ rally over the past year has pushed the Shanghai index up to its 23% Fibonacci ratio and a long-term resistance line, that has been in play for 25-years at (1) above.

As the Shanghai index was hitting this...



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OpTrader

Swing trading portfolio - week of June 29th., 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: Bulls under the gun to muster troops, while bears lie in wait

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

Courtesy of Sabrient Systems and Gradient Analytics

Two weeks ago, bulls seemed ready to push stocks higher as long-standing support reliably kicked in. But with just one full week to go before the Independence Day holiday week arrives, we will see if bulls can muster some reinforcements and make another run at the May highs. Small caps and NASDAQ are already there, but it is questionable whether those segments can drag along the broader market. To be sure, there is plenty of potential fuel floating around in the form of a friendly Fed and abundant global liquidity seeking the safety and strength of US stocks and bonds. While the technical picture has glimmers of strength, summer bears lie in wait.

In this weekly ...



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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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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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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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