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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Phil's Favorites

Congress is considering privacy legislation - be afraid

 

Congress is considering privacy legislation – be afraid

Courtesy of Jeff Sovern, St. John's University

Supreme Court Justice Louis Brandeis called privacy the “right to be let alone.” Perhaps Congress should give states trying to protect consumer data the same right.

For years, a gridlocked Congress ignored privacy, apart from occasionally scolding companies such as Equifax and Marriott after their major data breaches. In its absence, ...



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Zero Hedge

Key Events This Week: Trade War, EU Elections, Durables, PMIs And Fed Minutes

Courtesy of ZeroHedge

Looking at this week's key events, Deutsche Bank's Craig Nicol writes that while the unpredictable nature of US-China trade developments will likely continue to be the main focus for markets again next week, we also have the European Parliament elections circus to look forward to as well as various survey reports including the flash May PMIs which may offer some insight into the impact of trade escalation on economic data. The FOMC and ECB meeting minutes are also due, along with a heavy calendar of Fed officials speaking.

The European Parliament elections will kick off next Thursday with voting continuing into the weekend across the continent, with results expected on Sunday. With the elections surrounded by internal and external challenges for the EU, members di...



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Kimble Charting Solutions

Will S&P 500 Double Top Derail The Rally?

Courtesy of Chris Kimble.

The rally off the December stock market lows has been strong, to say the least. The S&P 500 rallied 25 percent before hitting and testing the 2018 high.

The old highs proved to be formidable resistance and ushered in some volatility in May… and a 5 percent pullback.

In today’s 2-pack, we look at that resistance level – could that be a double top? We can see similar patterns develop on the S&P 500 Index and its Equal Weight counterpart.

Both indexes are testing short-term Fibonacci retracement levels of the recent decline at point (2).

What takes place here after potential double top highs will be important. Stay tuned...



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Insider Scoop

60 Biggest Movers From Friday

Courtesy of Benzinga.

Gainers
  • Fastly, Inc. (NYSE: FSLY) shares jumped 50 percent to close at $23.99 on Friday. Fastly priced its 11.25 million share IPO at $16 per share.
  • Outlook Therapeutics, Inc. (NASDAQ: OTLK) shares climbed 37.3 percent to close at $2.10 on Friday after the stock rose over 68 percent Thursday following an Oppenheimer initiation at Outperform with a price target of $12.
  • Cray Inc. (NASDAQ: CRAY) shares rose 22.5 percent to close at $36.52 after Hewlett Packard Enterpri...


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

Chart School

Weekly Market Recap May 18, 2019

Courtesy of Blain.

China – U.S. trade talk continued to dominate the week.   A heavy selloff Monday was followed by 3 up days, with Friday moderately down.

On Monday, Chinese officials announced retaliatory tariffs against the U.S., hitting $60 billion in annual exports to China with new or expanded duties that could reach 25%.

Then on Wednesday:

The Trump administration plans to delay a decision on instituting new tariffs on car and auto part imports for up to six months, according to media reports.

...

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Digital Currencies

Cryptocurrencies are finally going mainstream - the battle is on to bring them under global control

 

Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control

The high seas are getting lower. dianemeise

Courtesy of Iwa Salami, University of East London

The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what ...



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Biotech

DNA as you've never seen it before, thanks to a new nanotechnology imaging method

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

 

DNA as you've never seen it before, thanks to a new nanotechnology imaging method

A map of DNA with the double helix colored blue, the landmarks in green, and the start points for copying the molecule in red. David Gilbert/Kyle Klein, CC BY-ND

Courtesy of David M. Gilbert, Florida State University

...



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ValueWalk

More Examples Of "Typical Tesla "wise-guy scamminess"

By Jacob Wolinsky. Originally published at ValueWalk.

Stanphyl Capital’s letter to investors for the month of March 2019.

rawpixel / Pixabay

Friends and Fellow Investors:

For March 2019 the fund was up approximately 5.5% net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 1.9% while the Russell 2000 was down approximately 2.1%. Year-to-date 2019 the fund is up approximately 12.8% while the S&P 500 is up approximately 13.6% and the ...



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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Mapping The Market

It's Not Capitalism, it's Crony Capitalism

A good start from :

It's Not Capitalism, it's Crony Capitalism

Excerpt:

The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...



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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

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

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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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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About Ilene:

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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