Archive for 2011

Update: Make That 15 Trillion; BOJ Raises Liquidity Injection To JPY12 Trillion ($146 Billion)

Courtesy of Tyler Durden of Zero Hedge

Update: make that JPY15 trillion:

The BOJ offered a combined 15 trillion yen ($183 billion) into the banking system on Monday in its first same-day market operation since the Greek debt crisis in May last year, to soothe market jitters in the wake of a devastating earthquake and tsunami that struck northeast Japan on Friday. The central bank’s policy board will likely discuss whether the sharp fall in Tokyo stock prices and the potential damage from the quake to corporate profits warrant an immediate policy response, the sources said.

Total reactionary panic everywhere now as the BOJ hikes the liquidity injection from 2 to 7 to 12 trillion yen. And this is likely hardly the end: "BOJ Governor Masaaki Shirakawa told reporters late yesterday he’s ready to unleash “massive” liquidity starting this morning in Tokyo." From BusinessWeek:

 "The Bank of Japan said it will pump a record 12 trillion yen ($146 billion) into the financial system to help stabilize the market after the nation’s biggest earthquake on record last week threatened an economic recovery.

The emergency measure represents the bank’s first same-day repurchase operations since May, when the central bank added funds to help stabilize the market after the Greek debt crisis set off a plunge in stocks worldwide. BOJ Governor Masaaki Shirakawa told reporters late yesterday he’s ready to unleash “massive” liquidity starting this morning in Tokyo.

“The Bank of Japan will provide plenty of liquidity and there are no disruptions in the interbank market,” said Toshiaki Terada, a researcher at Totan Research Co. in Tokyo. “The bank will probably add more funds if needed."

It is possible that following the latest reactor explosion this amount will be raised once more before the US night is over.  We are somewhat skeptical that throwing infinite capital at a clusterflock of black swans will do much, but are happy to be proven wrong. 





Swing trading virtual portfolio – week of March 14th, 2011

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

This post is for live trades and daily comments. Please click on "comments" below to follow our live discussion. All of our current virtual 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

Optrader 

Swing trading virtual portfolio

 

One trade virtual portfolio





Stunning Video Of Reactor 3 Explosion

Courtesy of Tyler Durden

This is what a hydrogen explosion looks like. There a several other reactors that are seeing a build up of hydrogen.

And another view. Hopefully the thing dropping from the explosion was not the containment dome.





BOJ Raises Liquidity Injection To JPY12 Trillion ($146 Billion)

Courtesy of Tyler Durden

Update: make that JPY15 trillion:

The BOJ offered a combined 15 trillion yen ($183 billion) into the banking system on Monday in its first same-day market operation since the Greek debt crisis in May last year, to soothe market jitters in the wake of a devastating earthquake and tsunami that struck northeast Japan on Friday. The central bank’s policy board will likely discuss whether the sharp fall in Tokyo stock prices and the potential damage from the quake to corporate profits warrant an immediate policy response, the sources said.

Total reactionary panic everywhere now as the BOJ hikes the liquidity injection from 2 to 7 to 12 trillion yen. And this is likely hardly the end: “BOJ Governor Masaaki Shirakawa told reporters late yesterday he’s ready to unleash “massive” liquidity starting this morning in Tokyo.” From BusinessWeek:

 ”The Bank of Japan said it will pump a record 12 trillion yen ($146 billion) into the financial system to help stabilize the market after the nation’s biggest earthquake on record last week threatened an economic recovery.

The emergency measure represents the bank’s first same-day repurchase operations since May, when the central bank added funds to help stabilize the market after the Greek debt crisis set off a plunge in stocks worldwide. BOJ Governor Masaaki Shirakawa told reporters late yesterday he’s ready to unleash “massive” liquidity starting this morning in Tokyo.

“The Bank of Japan will provide plenty of liquidity and there are no disruptions in the interbank market,” said Toshiaki Terada, a researcher at Totan Research Co. in Tokyo. “The bank will probably add more funds if needed.”

It is possible that following the latest reactor explosion this amount will be raised once more before the US night is over.  We are somewhat skeptical that throwing infinite capital at a clusterflock of black swans will do much, but are happy to be proven wrong.





Opko Health – What are the insider’s thinking?

Over the past month, Opko Health has attracted attention for the insider buying spree. As of March 20, the CEO/Chairman of the Board Dr. Phillip Frost purchased over 3M shares

Insider Transactions
FROST PHILLIP MD ET AL
Officer
Purchase
Mar 10, 2011
103,667,052

Mar 10, 2011

HSIAO JANE PH D
Officer
Acquisition (Non Open Market)
Mar 9, 2011
3,097,800

Mar 9, 2011

OPKO Health, Inc. is a publicly traded healthcare company involved in the discovery, development, and commercialization of proprietary pharmaceutical products, medical devices, vaccines, diagnostic technologies and imaging systems.

Initially focused on the treatment and management of ophthalmologic diseases, OPKO has since expanded into other areas of major unmet medical need such as oncology, infectious diseases, and neurological disorders. Additionally, OPKO plans to establish industry-leading positions in large and rapidly growing medical markets through strategic acquisitions and organic growth.

What do they have that is getting the insiders so excited?

In Q4/2009, OPK commenced selling and distributing pharmaceutical products, over-the-counter products and medical
devices for government, private and institutional markets in Chile through our subsidiary, Pharma Genexx. Pharma Genexx was established in
2006 by FASA, the largest drugstore chain in Latin America, and Laboratorios Volta S.A., a Chilean pharmaceutical company. Pharma Genexx
sells a broad range of products to the private, hospital and institutional markets in Chile for a wide range of indications, including without
limitation, cardiovascular products, vaccines, antibiotics, gastro-intestinal products, and hormones, among others. Since its inception, Pharma
Genexx has enjoyed continued growth in sales and profits.  This is where most of the revenues of OPK are derived.

Ophthalmics - Aquashunt™ is a novel glaucoma drainage device (GDD) invented by Dr. Bruce Shields at Yale University. This innovative shunt device is used for the treatment of glaucoma, the second leading cause of blindness in the U.S.  The patented Aquashunt™ device is intended to reduce intraocular pressure physiologically by allowing excess fluid in the eye to exit naturally. In January 2009, we began treating patients in a clinical trial designed to assess the safety and efficacy of the Aquashunt™ device. Trials started early last year in 20 patients, and the…
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Earthquake Moves Japan Eight Feet, Shifting Earth’s Axis; Entire Villages Vanish Under Wall of Water; Nuclear Crisis Expands to 2nd Reactor

Courtesy of Mish

Scientists upgraded the devastating earthquake that struck Japan from 8.8 or 8.9 to 9.0 on the Richter Scale. That may not sound like much but the scale is logarithmic effectively doubling the estimated size of the quake.

Regardless of what the number is, the quake was devastating enough to move the main island of Japan 8 feet while shifting the earth on its axis. Entire villages in Northern Japan are missing, swept away by the resultant tsunamis.

Meanwhile Japanese authorities struggling with additional meltdowns have flooded a second reactor with seawater hoping to cool the plant. This is a desperate action that will probably ruin both facilities.

Power outages and lack of fresh water add to the misery.

Villages, Trains Vanish Under Wall of Water

The New York Times reports Japan Pushes to Rescue Survivors as Quake Toll Rises

While nuclear experts were grappling with possible meltdowns at two reactors after the devastating earthquake and ensuing tsunami in northern Japan, the country was mobilizing a nationwide rescue effort to pluck survivors from collapsed buildings and rush food and water to hundreds of thousands of people without water, electricity, heat or telephone service.

Entire villages in parts of Japan’s northern Pacific coast have vanished under a wall of water, and many communities are cut off, leaving the country trying to absorb the scale of the destruction even as fears grew over the unfolding nuclear emergency.

In the port town of Minamisanriku, nearly 10,000 people were unaccounted for, according to the public broadcaster NHK. Much of the northeast was impassable, and by late Saturday rescuers had not arrived in the worst-hit areas.

JR, the railway company, reported that three passenger trains had not been accounted for as of Saturday night, amid fears that they were swept away by the tsunami. There were reports of as many as 3,400 buildings destroyed and 200 fires raging. Analysts estimated that total insured losses from the quake could hit $15 billion, Reuters reported.

Even as estimates of the death toll from Friday’s quake rose, Japan’s prime minister, Naoto Kan, said 100,000 troops would be mobilized for the increasingly desperate rescue recovery effort. Meanwhile, several ships from the United States Navy joined the rescue effort. The McCampbell and the Curtis Wilbur, both destroyers, prepared to move into position off Miyagi Prefecture.

One-third of Kesennuma, a city of 74,000, was


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NHK Reports Hydrogen Explosion At Fukushima Reactor #3 As New Tsunami Is Heading For The Plant

Courtesy of Tyler Durden

As a new 5 meter Tsunami is expected to hit Fukushima again, and residents are being advised to immediately get to higher ground, an explosion had been heard coming out of Reactor #3 at the power plant at 11:08 am local time. Supposedly this is a hydrogen explosion just like on Saturday, although the credibility of everyone involved at this point is zero. Dow Jones confirms that only the shell of the third reactor remains.

Follow the latest at NHK in what is becoming the most surreal news night in history.

A picture showing the below and after of Reactor 3 at Fukushima.

 





Death Toll Estimate in Japan Soars as Relief Efforts Intensify

Tsunami Footage [HD] by James MacWhyte (videos): video of life on the street during the flooding, click here.

tsunami

*****

Death Toll Estimate in Japan Soars as Relief Efforts Intensify – NYTimes.com

By MARTIN FACKLER and MARK McDONALD

SENDAI, Japan — Japan reeled from a rapidly unfolding disaster of epic scale on Sunday, pummeled by a rising death toll, destruction and homelessness from the combination of the earthquake and tsunami and new hazards from damaged nuclear reactors that were leaking radiation. The prime minister called it Japan’s worst crisis since World War II.

Japan’s $5 trillion economy, the world’s third-largest, was threatened with severe disruptions and partial paralysis as many industries shut down temporarily and the armed forces and volunteers mobilized for the far more urgent crisis of finding survivors, evacuating residents near the stricken power plants and caring for the victims of the record 8.9 magnitude quake that struck on Friday, which left more than 10,000 dead, many thousands homeless and millions without water, power, heat or transportation.

The most urgent immediate worries concerned the failures at two reactors within the Fukushima Daiichi Nuclear Power Station, where by Sunday evening engineers were still struggling to avert meltdowns and where some radiation had already leaked. Fukushima Daiichi and another power station, Fukushima Daiini, about 10 miles away, have been under a state of emergency since the quake struck.

The collective anxiety in Japan caused a rout in the Japanese stock market Monday morning, with the main index falling 5.5 percent, the worst drop in three years.

Worried about severe strains on the banking and financial systems, the Bank of Japan signaled that it was prepared to flood the economy with cash, and the government was discussing an emergency tax increase to help finance relief and recovery work. The Tokyo Electric Power Company, which operates the country’s crippled nuclear power grid, announced a series of rotating blackouts to conserve electricity — the first regularized power cuts in Japan in 60 years.

Full article here: Death Toll Estimate in Japan Soars as Relief Efforts Intensify – NYTimes.com.





OperationLeakS: “Ex-Bank Of America Employee Can Prove Mortgage Fraud”

Courtesy of Tyler Durden

An advance look at data to be released in under 2 hours from the previously discussed OperationLeakS indicates that tomorrow may be a very bad day from John Paulson, David Tepper and the rest of the “don’t fight the fed” crowd.





Saudi Arabia Prepares To Enter Bahrain

Courtesy of Tyler Durden

And just when oil was tapering off on hopes that the Middle East supply situation may actually normalize, we get this from The Guardian: “Saudi forces are preparing to intervene in neighbouring Bahrain, after a day of clashes between police and protesters who mounted the most serious challenge to the island’s royal family since demonstrations began a month ago. The Crown Prince of Bahrain is expected to formally invite security forces from Saudi Arabia into his country today, as part of a request for support from other members of the six-member Gulf Co-operation Council.” Pretty mich just as we predicted earlier. And yes, this is huge as Iran will promptly respond, setting off dormant religious tensions with a bang.

More:

The crown prince, Salman bin Hamad al-Khalifa, said in a televised statement that Bahrain had “witnessed tragic events” during a month of unprecedented political unrest.

Warning that “the right to security and safety is above all else”, he added: “Any legitimate claims must not be made at the expanse of security and stability.”

The crown prince has also promised that national dialogue would look at increasing the power of Bahrain’s parliament, and that any deal could be put to nationwide referendum.

However, some protesters have pressed their demands further to call for the toppling of the Sunni dynasty.

The unrest is being closely watched in Saudi Arabia, where Shia are some 15% of the population.

The secretary general of the Gulf Co-operation Council, Abdulrahman bin Hamad al-Attiya, expressed the “full solidarity with Bahrain’s leadership and people”, adding that “safeguarding security and stability in one country is a collective responsibility”.

In an apparent reference to Iran, which Gulf Arab ruling elites fear may capitalise on an uprising by Shiites in Bahrain, he also expresssed “strong rejection of any foreign interference in the kingdom’s internal affairs, asserting that any acts aiming to destabilise the kingdom and sow dissension between its citizens represent a dangerous encroachment on the whole GCC security and stability.” Reports that the Saudi National Guard was poised to enter Bahrain were cited by the Foreign Office, alongside a recent increase in protests, as it changed its advice to advise British citizens against all travel to Bahrain.

Earlier on Sunday, police moved in on Pearl Square, a site of occupation


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ValueWalk

#1 Performing Global Macro Hedge Fund Sees More Shorts Opportunities Ahead As China Bursts

By Jacob Wolinsky. Originally published at ValueWalk.

Crescat Global Macro Fund update to investors on 1/19/2019

Crescat Global Macro Fund and Crescat Long/Short fund delivered strong returns for both December and full year 2018 in a difficult market. Based on ...



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Zero Hedge

Johns Hopkins, Bristol-Myers Face $1 Billion Suit For Infecting Guatemalan Hookers With Syphilis 

Courtesy of ZeroHedge. View original post here.

A federal judge in Maryland said Johns Hopkins University, pharmaceutical company Bristol-Myers Squibb and the Rockefeller Foundation must face a $1 billion lawsuit over their roles in a top-secret program in the 1940s ran by the US government that injected hundreds of Guatemalans with syphilis, reported Reuters.

Several doctors from Hopkins an...



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Phil's Favorites

Divisive economics

 

Guest author David Brin — scientist, technology consultant, best-selling author and futurist — explores the records of Democrats and Republicans on the US economy in the following post. For David's latest posts, visit the CONTRARY BRIN blog. For his books and short stories, visit his web...



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Kimble Charting Solutions

Stock declines did not break 9-year support, says Joe Friday

Courtesy of Chris Kimble.

We often hear “Stocks take an escalator up and an elevator down!” No doubt stocks did experience a swift decline from the September highs to the Christmas eve lows. Looks like the “elevator” part of the phrase came true as 2018 was coming to an end.

The first part of the “stocks take an escalator up” seems to still be in play as well despite the swift decline of late.

Joe Friday Just The Facts Ma’am- All of these indices hit long-term rising support on Christmas Eve at each (1), where support held and rallies have followed.

If you find long-term perspectives helpf...



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Digital Currencies

Transparency and privacy: Empowering people through blockchain

 

Transparency and privacy: Empowering people through blockchain

Blockchain technologies can empower people by allowing them more control over their user data. Shutterstock

Courtesy of Ajay Kumar Shrestha, University of Saskatchewan

Blockchain has already proven its huge influence on the financial world with its first application in the form of cryptocurrencies such as Bitcoin. It might not be long before its impact is felt everywhere.

Blockchain is a secure chain of digital records that exist on multiple computers simultaneously so no record can be erased or falsified. The...



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Insider Scoop

Cars.com Explores Strategic Alternatives, Analyst Sees Possible Sale Price Around $30 Per Share

Courtesy of Benzinga.

Related 44 Biggest Movers From Yesterday 38 Stocks Moving In Wednesday's Mid-Day Session ...

http://www.insidercow.com/ more from Insider

Chart School

Weekly Market Recap Jan 13, 2019

Courtesy of Blain.

In last week’s recap we asked:  “Has the Fed solved all the market’s problems in 1 speech?”

Thus far the market says yes!  As Guns n Roses preached – all we need is a little “patience”.  Four up days followed by a nominal down day Friday had the market following it’s normal pattern the past nearly 30 years – jumping whenever the Federal Reserve hints (or essentially says outright) it is here for the markets.   And in case you missed it the prior Friday, Chairman Powell came back out Thursday to reiterate the news – so…so… so… patient!

Fed Chairman Jerome Powell reinforced that message Thursday during a discussion at the Economic Club of Washington where he said that the central bank will be “fle...



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Members' Corner

Why Trump Can't Learn

 

Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



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Biotech

Opening Pandora's Box: Gene editing and its consequences

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

 

Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from www.shutterstock.com

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.

...

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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



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OpTrader

Swing trading portfolio - week of September 11th, 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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Promotions

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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.

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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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