Posts Tagged ‘GDP numbers’

Massive Layoffs Coming in NYC, Nevada, California, Colorado, Arizona, Everywhere

Massive Layoffs Coming in NYC, Nevada, California, Colorado, Arizona, Everywhere

Courtesy of Mish  
Miniature Businessman Walking Across Newspaper Stock Page With Briefcase

Cities, states, and municipalities are sinking by the minute. And unless unions agree to concessions (which they won’t) massive layoffs are coming everywhere you look. New York City is a prime example.

Please consider NYC May Lay Off 19,000 Workers If State Cuts Aid

New York City will have to lay off more than 10,000 public workers, in addition to 8,500 teachers, if the state legislature approves the $1.3 billion of cuts the governor proposed in his deficit-closing budget, Mayor Michael Bloomberg said on Monday.

The mayor, in a speech to the legislature, estimated 3,150 police officers would be cut, reducing the force’s "operational strength" to 1985 levels.

About 1,050 firefighters would have to be let go, along with 900 correctional officers, and the city would have to cut its daily inmate population by 1,900, he said. The number of at-risk children that service workers monitor would fall to 2,700 from 9,000, Bloomberg said.

The mayor, an independent, said Governor David Paterson’s budget "utterly fails the test of fairness." He told lawmakers: "You can’t lose control of the streets in terms of safety or cleanliness. You can’t lose control of the streets in terms of an ambulance or a firefighter showing up."

NYC mayor: State budget would force city layoffs

Check out the spin in this version of the same story: NYC mayor: State budget would force city layoffs 

The proposed state budget would force thousands of layoffs and could reduce New York City police staffing to the level of 1985, before the city emerged as a terrorism target, Mayor Michael Bloomberg warned legislators Monday.

Gov. David Paterson’s proposed 2010-11 budget would cut $1.5 billion in funding to the city, Bloomberg said — forcing layoffs of 9 percent of the city’s police officers; layoffs of 1,050 firefighters and the closing of some firehouses; and 8,500 teachers as part of what Bloomberg says is a $500 million cut in school aid.

In addition, aid for other services such as soup kitchens, homeless shelters and transit cards for students will be sapped with no way for the city to make up the funding.

"This executive budget would have devastating effects on essential services in New York City," Bloomberg said.

Pointing The Finger

It appears mayor…
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ValueWalk

G20 Dilemma: Falling Trade, Soaring Market, Looming Contraction

By Dan Steinbock. Originally published at ValueWalk.

By Dan Steinbock

There is a deep chasm between America’s historical rebuff of G20 efforts, which seek to re-ignite trade, and markets, which remain at record heights. This rift is untenable.

Historically, Baden-Baden’s spas are famous for their healing waters, which have healed ancient Romans’ arthritic aches, Prussian queens’ rheumatism and European aristocrats’ paralyses. Nevertheless, the G20 Summit is fresh evidence that even Baden-Baden cannot do miracles.

As US Treasury Secretary Mnuchin rebuffed the push by the masters of the global finance to renounce protectionism, concerns are mounting that the Trump administration will execute its “America First” policy, even at the risk of unleashing waves of retal...



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Phil's Favorites

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Record Number of Fund Managers Say U.S. Equities Are Overvalued (Bloomberg)

Fund managers now say stocks are the most overvalued they have been in nearly 20 years, according to a survey done last week by Bank of America Merrill Lynch.

For China’s Central Bank, an Increasingly Difficult Balancing Act (The Wall Street Journal)

China’s central bank faces an increasingly tough balancing act, trying to contain asset bubbles and steady the yuan without triggering a cash crunch and stifling economic growth...



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Zero Hedge

This New Bubble Is Even Bigger Than The Subprime Fiasco

Courtesy of ZeroHedge. View original post here.

Authored by Simon Black via SovereignMan.com,

In 1988, a bank called Guardian Savings and Loan made financial history by issuing the first ever “subprime” mortgage bond.

The idea was revolutionary.

The bank essentially took all the mortgages they had loaned to borrowers with bad credit, and pooled everything together into a giant bond that they could then sell to other banks and investors.

The idea caught on, and pretty soon, everyone was doing it....



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Kimble Charting Solutions

Banks Stocks could under perform for years (Update)

Courtesy of Chris Kimble.

90-days ago Joe Friday shared that if history was a guide, banks could under perform the broad market going forward. The chart below was shared on 12/23/16 (See Post Here). It highlighted that since the highs in 2007, when the Bank/SPY ratio became very over bought, banks lagged the broad market for a good while.

CLICK ON CHART TO ENLARGE...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

World stocks seen as most overvalued in 17 years: BAML survey (Reuters)

World stocks are their most expensive in 17 years, but bond yields will need to be much higher than they are currently to trigger an equity bear market, a monthly fund manager survey showed on Tuesday.

Stocks Tumble As Banks, Industrials Take Broad Losses (Associated Press)

U.S. stocks are on track for their biggest loss this year as banks tumble and industrial companies such as transportation stocks take large losses. Small-company stocks are falling more than the rest of the ...



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Chart School

Seniconductor Shorts Gifted Their Positions

Courtesy of Declan.

For those who took advantage of the resistance test in the Semiconductor Index; there was a picture perfect test of the hashed blue line resistance and secondary break of former rising channel support.  The Semiconductor Index finished bang on the 20-day MA so there may be a little (big?) bounce tomorrow. If buyers can't defend the 20-day MA then the 50-day MA is next.


The S&P did not experience the biggest loss, but it did undercut the recent swing low. In fact, the relative performance of the index against ...

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Members' Corner

Natterings

Check out some new posts from our friend The Nattering Naybob. 

The Big Lebowski Sequel?

Taking a "resp-shit" or "potty break" from "in the Toilet Thursday" or "Thursday's in the Loo"... One of our favorite scenes from the 1998 cult classic The Big Lebowski, the ash can scene where Walter Subchak (John Goodman) eulogizes the departed Donnie (Steve Buscemi) with Jeffrey Lebowski (Jeff Bridges) looking on.

Keep reading: ...



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OpTrader

Swing trading portfolio - week of March 20th, 2017

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

 

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

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

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

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



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Digital Currencies

Bitcoin Tumbles Below Gold As China Tightens Regulations

Courtesy of Zero Hedge

Having rebounded rapidly from the ETF-decision disappointment, Bitcoin suffered another major setback overnight as Chinese regulators are circulating new guidelines that, if enacted, would require exchanges to verify the identity of clients and adhere to banking regulations.

A New York startup called Chainalysis estimated that roughly $2 billion of bitcoin moved out of China in 2016.

As The Wall Street Journal reports, the move to regulate bitcoin exchanges brings assurance that Chinese authorities will tolerate some level of trading, after months of uncertainty. A draft of the guidelines also indicates th...



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Mapping The Market

Congress begins rolling back Obama's broadband privacy rules

Courtesy of Jean Luc

I am trying to remember who on this board said that people wanted to Trump because they want their freedom back. Well….

Congress begins rolling back Obama's broadband privacy rules

By Daniel Cooper, Endgadget

ISPs will soon be able to sell your most private data without your consent.

As expected, Republicans in Congress have begun the process of rolling back the FCC's broadband privacy rules which prevent excessive surveillance. Arizona Republican Jeff Flake introduced a resolution to scrub the rules, using Congress' powers to invalidate recently-approved federal regulations. Reuters reports that the move has broad support, with 34 other names throwing their weight behind the res...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

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Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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Biotech

The Medicines Company: Insider Buying

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

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

 

 

 

Insider transaction table and buying vs. selling graphic above from insidercow.com.

Chart below from Yahoo.com

...

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All About Trends

Mid-Day Update

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

Click here for the full report.




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

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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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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