I truly love this site and JDA’s constant commitment to speaking her mind, delivering lively commentary on economic events, and throwing in the perfect picture to go with it. So Happy 2nd Birthday, JDA!! – Ilene
Couldn’t have done it without you, stalker, commenter, subscriber, reader, casual checker outer, supporter, donor, asshat and nemesis. I’d especially like to thank Ben Bernanke for making this moment possible, were it not for his constant shenanigans, I would not have had a single thing to write about these past two years and my little world would be that much emptier.
Thanks to TLP for carrying the load when Google is pissing me off and/or hating and being my constant source of entertainment when everything else sucks raw donkey balls.
Thanks to my wonderfully strange readers who delight and fascinate me all while feeding my constantly hungry ego.
And thanks most of all to J.P. Morgan and the fine Rothschild family; were it not for your hard diabolical work, I really wouldn’t have anything at all to say as this world just wouldn’t need me.
While I’m thrilled to say JDA is celebrating two years on this trip, I have to say I certainly didn’t think I’d still have so much to write about on the financial doomsday front two years later. Oh well. See you kids in a decade, I’ll still be here bitching about Fed asshats and the pending commercial real estate collapse, I’m sure.
It’s been a long exciting week filled with Greece action, Obamacare, and failed Treasury auctions. Since JDA’s resident paperboy doesn’t believe the Fed is an evil institution and tends to read too much HuffPo and not enough Ron Paul, I’m grabbing the paper, rolling it up and whacking him (hard) with the following:
It’s Official – America Now Enforces Capital Controls Gee, think we should start reading the bill? (Zero Hedge)
Goldman Sachs’ controversial ‘mommy-track’ In fairness to TLP, he didread this one. You should too. (The Week)
Does Unemployment Insurance Cause Unemployment? It’s a legitimate question. Does the FDIC encourage moral hazard? Mmm hmm. (Wall St Cheat Sheet)
On Deficits And Debt-Financed Government Market Ticker is always good for a nice reality check. Especially one that comes out to $760 billion in interest expense alone – and yes, that’s American debt. (Market Ticker)
The “shop till you drop” economy "Who would want to invest in the United States when there are fiscally solvent, rapidly growing emerging economies to invest in?" Who indeed. (The Animal Spirits Page)
Throwing Gas On The Fire Wait a second, are the regulators the problem? (Bank Lawyer’s Blog)
Repo 105: Was Lehman’s Accounting Only Ticking Boxes? Or Is It A Ticking Box? I smell smoke, Jim Peterson smells something awry with financial reporting (as in journalism, not statements) and rules-based accounting. JDA humbly concurs. (Re:Balance)
Is InterOil Built on a Foundation of Fraud? InterOil better look out, you don’t want Sam Antar on your ass (I’m not scared, he’s afraid of me and I’m training him for his next bout) (White Collar Fraud)
TGIF – Greece Fixed AGAIN! Phil seems to think the EU is bipolar. Has the EU asked its doctor about Abilify? (Phil’s Stock World)
The Latest To Get Ripped Off By The Banksters? The States I’m shocked. Completely and totally shocked.(LOLFed)
Despite warnings from the likes of Elon Musk and Stephen Hawking (and of course, Sarah Connor), Ray Dalio's $165 billion AUM hedge fund Bridgewater will start a new, artificial-intelligence unit next month. Despite the "new normal"'s total reversal of any and every historical rational trading pattern, the unit will attempt to create trading algorithms that make predictions based on historical data and statistical probabilities, as "machine learning is the new wave of investing for the next 20 years and the smart players are focusing on it." Does this mean the talking heads of CNBC, with their 'memes', 'myths', and 'mumbling' rationales for it alwa...
Here's a brief update from "Ellen" who lives in Lviv, a city in Western Ukraine. Hello Mish
We have quite a panic over the collapse of currency. People buy any food product that can be stored. Everyone wants to rid of Hryvnia. We haven't seen anything like this since 1991 when the Soviet Union collapsed. Stores are empty.
It is hard to say what exchange rate this days, somewhere between 34 and 42
There were riots in downtown today. A group of protesters was beaten up by police. They marched through downtown and gave a last warning to government officials. Next time they said they will shoot some officials.
Ukraine is on a brink, but the West is not in a hurry to give us money. Perhaps they want something. Maybe they know the money will end up with corrupt officials who will steal it.
The markets had much to consider this week, most notably Fed Chair Yellen's semi-annual congressional testimony on Tuesday and Thursday and today's updates on Consumer Sentiment and GDP. The S&P 500 showed relatively little reaction to any of this week's economic events, trading within a microscopic 0.79% range from its intraday low on Monday to its intraday high on Wednesday (which was also its record high). Today's -0.30% closing loss trimmed the February monthly gain to a whopping 5.49%, the biggest monthly gain since October of 2011, 40 months ago, when the index rose 10.77%.
Chris Kimble's chart for KOL shows a recently beaten down ETF struggling to pull itself up from the ashes. As the chart shows, KOL has recently drifted down to levels not seen since the financial crisis of 2008-9.
Bouncing or recovering with energy in general, coal prices appear to have stabilized in the short-term. Reflecting coal prices, KOL has traded between $13.45 and $19.75 during the past year. Bouncing from lows, KOL traded around 2% higher yesterday from $14.26 to $14.48 on high volume. It traded another 3.6% higher in after hours to $15, possibly related to ...
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Stocks are hitting new highs across the board, even though earnings reports have been somewhat disappointing. Actually, to be more precise, Q4 results have been pretty good, but it is forward guidance that has been cautious and/or cloudy as sales into overseas markets are expected to suffer due to strength in the US dollar. Healthcare and Telecom have put in the best results overall, while of course Energy has been the weakling. Still, overall year-over-year earnings growth for the S&P 500 during 2015 is expected to be about +8%.
In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 cha...
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PSW Members - well, what a year for biotechs! The Biotech Index (IBB) is up a whopping 40%, beating the S&P hands down! The healthcare sector has had a number of high flying IPOs, and beat the Tech Sector in total nubmer of IPOs in the past 12 months. What could go wrong?
Phil has given his Secret Santa Inflation Hedges for 2015, and since I have been trying to keep my head above water between work, PSW, and baseball with my boys...it is time that something is put together for PSW on biotechs in 2015.
Cancer and fibrosis remain two of the hottest areas for VC backed biotechs to invest their monies. A number of companies have gone IPO which have drugs/technologies that fight cancer, includin...
Stocks got off to a rocky start on the first trading day in December, with the S&P 500 Index slipping just below 2050 on Monday. Based on one large bullish SPX options trade executed on Wednesday, however, such price action is not likely to break the trend of strong gains observed in the benchmark index since mid-October. It looks like one options market participant purchased 25,000 of the 31Dec’14 2105/2115 call spreads at a net premium of $2.70 each. The trade cost $6.75mm to put on, and represents the maximum potential loss on the position should the 2105 calls expire worthless at the end of December. The call spread could reap profits of as much as $7.30 per spread, or $18.25mm, in the event that the SPX ends the year above 2115. The index would need to rally 2.0% over the current level...
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 firstname.lastname@example.org 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.
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