Archive for 2015

Softer First Quarter Earnings Pull India’s NIFTY Down By 1%

By Mani. Originally published at ValueWalk.

Mirroring softer 1Q earnings and weaker sentiment globally, India’s NIFTY dropped 1% last week, with 9 out of 19 stocks missing estimates.

Sunil Koul and team at Goldman Sachs Group Inc (NYSE:GS) in their July 24, 2015 report “India Weekly Kickstart” point out that Indian equities witnessed foreign inflows of $170 million last week.

Goldman Sachs retains overweight on India

Analysing the fund flows, Koul and colleagues at Goldman Sachs point out that equities saw foreign inflows of $170 million lat week, with YTD, FIIs net bought $7.4 billion while DIIs bought $3.8 billion in equities. Joining the trend, bonds have also witnessed FII inflows of $6.7 billion so far this year.

Fund flows - India NIFTY

Turning their attention towards earnings sentiment and valuation, the analysts note FY16 earnings sentiment remains negative, with MSCI India trading at 17.7x NTM P/E and 3.4x LTM P/B:

India-Valuation NIFTY

Tracking India’s monsoon, the Goldman Sachs analysts point out that cumulative rainfall received so far is 7% below normal, with only about 55% of the country receiving normal rains:

India's monsoon monitor NIFTY

Muted expectations for 1QFY16

Focusing on India’s earnings, Koul et al. present the following reporting calendar for MSCI India’s 1QFY16:

India's reporting calendar NIFTY

They point out within sectors, CNX Infotech outperformed (up 2%) on the back of 1QFY16 earnings beat, while CNX Pharma and Realty lagged (down 5 to 7%):

Sectoral price performance NIFTY

The GS analysts point out that so far, 34% of MSCI India cap (19/71 stocks) have reported 1QFY16 results. They note out of the 19 stocks that have reported, 8 beat estimates, 2 reported in line with expectations and 9 missed. Koul and colleagues note earnings have been in-line / better than estimates in the InfoTech sector, while Staples, Inc. (NASDAQ:SPLS), Pharma and Industrials have reported softer results so far:

Recent report card-India NIFTY

The Goldman Sachs analysts highlight that consensus expectations are fairly muted heading into 1QFY16 results season:

Consensus expectations NIFTY

Taking a regional view, Koul and team captures the performance of major local indices across Asia in the table below:

India and the region NIFTY

As can be deduced from the following table, India tops the FII equity flows in the emerging Asia region:

FII equity flows - Asia NIFTY

Koul et al. also point out that India remains the strongest OW in EM funds while funds are UW North Asia including China based on EPFR data:

OW by EM funds NIFTY

TThey retain their OW rating in India and pegged their NIFTY 12-month target at 9400:

GS target for NIFTY

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Monsters Of Ukraine: Made In The USA

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Justin Raimondo via AntiWar.com,

We’re in the summer doldrums of the news cycle, a perfect time for our government and the media – or do I repeat myself? – to drop certain inconvenient stories down the Memory Hole. My job, of course, is to retrieve them….

Remember Ukraine? I seem to recall blaring headlines about a supposedly “imminent” and “massive” Russian invasion of that country: the Anglo-Saxon media was ablaze with a veritable countdown to D-Day and we were treated to ominous sightings of Russian troops and tanks gathering at the border, allegedly just awaiting the order from Putin to take Kiev. And it turns out there has been an invasion, of sorts – although it isn’t a Russian one. It’s the Kiev regime’s own foot-soldiers returning from the front and turning on their masters.

The war is going badly for the government of oligarch Petro Poroshenko. The east Ukrainians, who rose in revolt after the US-sponsored coup threw out democratically elected President Viktor Yanukovych, show no signs of giving up: they’ve repulsed the “anti-terrorist” campaign launched by Kiev, withstanding relentless bombardment of their cities and enduring many thousands of casualties, not to mention widespread destruction. Indeed, the brutal protracted war waged by Kiev against its own “citizens” has arguably steeled the rebels’ resolve and made any thought of reconciliation unthinkable.

As is usual with violent fanatics, the war aims of the Kiev coup leaders – to bring the eastern provinces back into the fold – have been rendered impossible by their methods and conduct. The de facto blockade imposed on the east has bound the separatists all the more tightly to Russia, and so economics as well as searing hatred of a government the easterners regard as “fascist” has sealed the country’s fate.

Unable to crack the rebels’ resolve, the “revolutionaries” who once gathered in the Maidan have begun to turn on each other. Poroshenko, fearful of the rising power of the far-right militias who make up the backbone of his makeshift army, has ordered their dissolution – and the rightists are resisting.

A standoff between the Right Sector militia and Ukrainian police the other day culminated in a pitched battle as…
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Something Just Snapped: Container Freight Rates From Asia To Europe Crash 23% In One Week

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

One of the few silver linings surrounding the hard-landing Chinese economy in recent weeks has been the surprising resilience and strength of the Baltic Dry Index: even as Chinese commodity demand has cratered in 2015, this “index” has more than doubled in the past few months from all time lows, and at last check was hovering just over 1,100.

Many were wondering how it was possible that with accelerating deterioration across all Chinese asset classes, not to mention the bursting of various asset bubbles, could global shippers demand increasingly higher freight rates, an indication of either a tight transportation market or a jump in commodity demand, neither of which seemed credible.

We may have the answer.

It appears that the recent spike in shipping rates was analogous to the dead cat bounce in crude oil prices: a speculator-driven anticipation for a sustainable rebound that never took place. And now, just like with crude prices, it is all crashing down…. again.

According to Reuters, shipping freight rates for transporting containers from ports in Asia to Northern Europe dropped 22.8 per cent to $400 per 20-foot container (TEU) in the week ended last Friday, data from the Shanghai Containerized Freight Index showed.

Freight rates on the world’s busiest shipping route have tanked this year due to overcapacity in available vessels and sluggish demand for transported goods. Rates generally deemed profitable for shipping companies on the route are at about US$800-US$1,000 per TEU. In other words, at current prices shippers are losing half a dollar on every booked contractual dollar at current rates.

According to Shanghai data, it was the third consecutive week of falling freight rates on the world’s busiest route. Container freight rates have so far increased in 5 weeks this year but fallen in 23 weeks.

In the week to Friday, container freight rates fell 24 percent from Asia to ports in the Mediterranean, fell 4.4 per cent to ports on the US West Coast and were down 3.7 per cent to ports on the US East Coast.

Maersk Line, the global market leader with more than 600 vessels and part of Danish oil and shipping group AP Moller-Maersk, was one of the few container shipping companies to make a profit last year. The company controls around one fifth


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The Population Bomb

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Adam Taggart via PeakProsperity.com,

In 1968, Paul Ehrlich released his ground-breaking book The Population Bomb, which awoke the national consciousness to the collision-course world population growth is on with our planet's finite resources. His work was reinforced several years later by the Limits To Growth report issued by the Club of Rome.

Fast-forward almost 50 years later, and Ehrlich's book reads more like a 'how to' manual. Nearly all the predictions it made are coming to pass, if they haven't already. Ehrlich admits that things are even more dire than he originally forecasted; not just from the size of the predicament, but because of the lack of social willingness and political courage to address or even acknowledge the situation:

The situation is much more grim because, of course, when the population bomb was written, there were 3.5 billion people on the planet. Now there are 7.3 billion people on the planet. And we are projected to have something on the order of 9.6 billion people 35 years from now. That means that we are scheduled to add to the population many more people than were alive when I was born in 1932. When I was born there were 2 billion people. The idea that, in 35 years when we already have billions of people hungry or micronutrient-malnourished, we are somehow going to have to take care of 2.5 billion more people is a daunting idea.

I think it's going to get a lot worse for a lot more people. You've got to remember that each person we add disproportionately causes ecological damage. For example, human beings are smart. So human beings use the easiest to get to, the purest, the finest resources first.

When thousands of years ago we started to fool around with copper, copper was lying on the surface of the earth. Now we have at least one mine that goes down at least two miles and is mining copper that is about 0.3% ore. And yet we go that deep and we refine that much. Same thing the first commercial oil well in the United States. We went down 69.5 feet in 1859 to hit oil. The one off in the Gulf of Mexico started a mile under water and went down a couple of more


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Citadel Barred From Trading In China After Regulator Accuses “Automated Trading” Unit Of Manipulation

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Define irony: for the past 7 years, Wall Street’s worst kept secret is that Citadel, the world’s most levered hedge fund, has been the NY Fed’s just slightly more than arms-length enforcer of market stability, by which we mean spoofer, buyer and otherwise “plunge protector” in the equity and E-mini futures markets. The secret got even less “secret” when of all the possible hedge funds blogger Ben Bernanke could have gone to, he picked the Chicago HFT powerhouse, confirming the cozy and tight relationship between the Federal Reserve and the firm which has been increasingly linked to market manipulation not only in equities but bonds and virtually all other asset classes.

Which is why Citadel must have been shocked to learn late last week that China had suspended trading at a brokerage account used by Citadel in China.

When the news first broke last Friday, we asked, somewhat rhetorically, the following question:

Today, the WSJ had more detail on the surprising snafu involving the Fed’s favorite market intervention vehicle, confirming that Citadel said trading in one of its China accounts has been suspended, as Chinese regulators battle a steep slide in stock prices.

The reason: China’s securities regulator said Friday it has launched a probe into automated trading and has restricted 24 stock accounts suspected of influencing stock prices. The government didn’t name any of the companies behind the restricted stock accounts. Citadel said Sunday that one of its accounts was among them.

Of course, China’s crackdown on foreign trading is not news, and had been reported about a week ago: in its endless list of scapegoatees, China had decided that blaming “evil”, if faceless, foreign sellers would be just as effective to boost confidence in a rigged market as accusing “malicious” sellers. That remains to be seen, but what is surprising is that while Citadel is best known for propping the US market higher, China is suggesting that the same NY Fed Plunge Protection Team extension was implicated in the recent downward move, using “automated trading” or otherwise. Surely, China’s regulator would not utter a…
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Both Sales and Earnings Are Rolling Over With Stocks Near All-Time Highs

Courtesy of ZeroHedge. View original post here.

Submitted by Phoenix Capital Research.

Beyond multiple expansions driven by liquidity, sales and earnings drive stocks.

Of the two, sales are most important for determining economic conditions. Earnings can be massaged any number of ways. However, sales cannot. Either the money came in the door or it did not.

Unfortunately for the bulls, sales are falling.

1Q15 sales came in 2.4% below 1Q14. And the trend has not improved since that time.

General Electric (GE), JP Morgan (JPM), Microsoft (MSFT), IBM (IBM), Citigroup (C), Johnson & Johnson (JNJ), Intel (INTC), Coke (KO), Oracle (ORCL), Honeywell (HON), Goldman Sachs (GS), and American Express (AXP) have all reported a decline in Year Over Year sales for the second quarter of 2015.

These companies are not unique. Across the board S&P 500 companies are posting a 4% drop in revenues.

Sales are not the only metric that is tanking.

Annual corporate earnings fell last year for the first time since we entered the so-called “recovery” in 2009. This is pretty incredible when you consider the sheer amount of buybacks and other accounting gimmicks used by corporations to boost their profits.

Indeed, a study performed by Duke University found that roughly 20% of publicly traded firms manipulate their earnings to make them appear better than they really are. The folks who were surveyed for this study about this practice were the actual CFOs at the firms themselves.

All of this gimmicky has resulted in corporate profits trading at an all time high relative to US GDP. Profits literally have nowhere to go but down as corporations have cut costs to the bone and juiced earnings through buybacks and leveraged buybacks (issuing debt to buy shares).

Put simply, both sales and earnings are rolling over… at a time when the S&P 500 is close to all-time highs. This is a recipe for a correction if not a crash.

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Here’s The Bad News That Nobody Is Telling You About The Record Lows In Initial Jobless Claims

Courtesy of Lee Adler at Wall Street Examiner

The headline, fictional, seasonally adjusted (SA) number of initial unemployment claims for last week came in at 267,000. The Wall Street economist crowd consensus guess close to the mark this week, at 272,000.

We focus on the trend of the actual data, instead of the seasonally manipulated headline number expectations game. Facts tend to be more useful than the economic establishment’s favored fictitious numbers. Actual claims based on state-by-state filings were 230,430, which is another record low for this calendar week. It continues a nearly uninterrupted string of record lows that began in September 2013.

The Department of Labor (DoL) reports the unmanipulated numbers that state unemployment offices actually count and report each week. This week it said, “The advance number of actual initial claims under state programs, unadjusted, totaled 230,430 in the week ending July 25, a decrease of 32,519 (or -12.4 percent) from the previous week. The seasonal factors had expected a decrease of 43,528 (or -16.6 percent) from the previous week. There were 257,625 initial claims in the comparable week in 2014.”

 

Initial Claims and Annual Rate of Change- Click to enlarge

Initial Claims and Annual Rate of Change- Click to enlarge

You can see for yourself from the chart just how extraordinarily low these numbers are.

When using actual data we want to see if there’s any evidence of trend change. Thus we look at how the current week compares with this week in prior years, and whether there’s any sign of change. The actual change for the current week was a decrease of -32,500 (rounded). This week of July always has a large drop. Based on the data for this week from the last 10 years, the current decline was not very good, stronger than only last year (-29,500), and the same week in 2008 (also -29,500). In 2008 the economy was collapsing. The 10 year average decline for this week was -70,000.

Is this weakness material? Week to week changes are noisy. The trend is what is important and it remains on track. Actual claims were 10.6% lower than the same week a year ago. Since 2010 the annual change rate has mostly fluctuated between -5% and -15%. This week’s data was right in the middle of that range. There’s no sign yet of a significant uptick in the trend of
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When China Stopped Acting Chinese

By Mauldin Economics. Originally published at ValueWalk.

When China Stopped Acting Chinese by John Mauldin, Mauldin Economics

A Transformation Like No Other
China GDP Versus China Beige Book
Economic Stimulus, Like It or Not
Insanely Leveraged Farmers
The Plunge Protection Team – Chinese-Style
The Silver Lining
New York, Maine, New York, and Boston

“The one thing I know for sure about China is, I will never know China. It’s too big, too old, too diverse, too deep. There’s simply not enough time.”

– Anthony Bourdain, Parts Unknown

Much of the world is focused on what is happening in Greece and Europe. A lot of people are paying attention to the Middle East and geopolitics. These are significant concerns, for sure; but what has been happening in China the past few months has more far-reaching global investment implications than Europe or the Middle East do. Most people are aware of the amazing run-up in the Shanghai stock index and the recent “crash.” The government intervened and for a time has halted the rapid drop in the markets.

There have been a number of concerns about what this means for the Chinese economy. Is China getting ready to implode? Certainly there are those who have been predicting that outcome for some time. In this week’s letter I am going to try to explain both what caused the Chinese stock market to rise so precipitously and then fall just as fast and why we have to view China’s stock market differently from its economy.

As I have been saying for several years, in order for the Chinese economy to continue to grow, the Chinese must shift their emphasis from industrial production and infrastructure investment to a services-oriented economy. That is indeed what they are trying to do, and we are beginning to see signs of the services sector taking on a role as important to the Chinese economy as services are to the US economy. They have a long way to go, but they have begun the trip.

A Transformation Like No Other

When the US stock market crashed in October 1987, commentators on that era’s primitive financial media (I recall seeing them on the large wooden box in my living room) rushed to distinguish between the country’s economy and its stock market.

The American economy, they said, is just fine. Life


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The Politicians’ War On Uber

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by John Stossel via Reason.com,

Hillary Clinton gave a speech warning that the new “sharing economy” of businesses such as the ride-hailing company Uber is “raising hard questions about workplace protections.”

Democrats hate what labor unions hate, and a taxi drivers’ union hates Uber, too. Its NYC website proclaims, “Uber has the money. But we are the PEOPLE!”

The taxi cartels, which provide inferior service and are micromanaged by government, don’t like getting competition from efficient companies like Uber.

Clinton didn’t mention Uber by name, but we don’t have to wonder which company she meant. The New York Times reports that Clinton contacted Uber and told them her speech would threaten to “crack down” on companies that don’t treat independent contractors as full employees. Apparently, Democrats think something’s wrong if people are independent contractors.

But no driver is forced to work for Uber. People volunteer. They like the flexibility. They like getting more use out of their cars. It’s win-win-win. Drivers earn money, customers save money while gaining convenience, and Uber makes money. Why does Clinton insist on interfering with that?

Clinton’s “social democrat” pal, New York’s Mayor Bill de Blasio, wants to crack down on Uber by limiting how many drivers they may hire. Uber cleverly responded with an app—a “de Blasio option”—that shows people how much longer they’d have to wait if de Blasio gets his way.

Good for Uber for fighting back. I wish more companies did.

Federal Express didn’t.

FedEx Ground classified drivers as independent contractors. Again, drivers were willing to drive, FedEx Ground was willing to pay, and customers got packages faster and more reliably than they did from the U.S. Postal Service.

But lawyers built a class action suit on behalf of FedEx drivers, saying they should be treated as employees, paying payroll tax, getting workman’s compensation, receiving benefits. FedEx settled the case for $228 million and began abandoning its independent contractor system.

Uber’s use of independent drivers—who use their own cars—is now called analogous to FedEx’s use of delivery drivers.

That means Uber may soon have to treat its drivers as employees. Business analysts at ZenPayroll estimate that the changes will cost $209 million. We customers will pay for that, and we’ll have fewer ride-share choices, too.

Lawsuits and politicians’ attacks against one company have a chilling effect…
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The Tide Has Turned And These Charts Predict The Next Stop

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Thad Beversdorf via FirstRebuttal.com,

What we saw with the latest GDP reports is something truly remarkable.  A market that was explicitly told the past 4 years of economic growth had been overstated simply shrugged off the news.  That is, absolutely no price recalibration took place.  This really evidences beyond any doubt that there is no relationship between the economy and the market.  It further evidences the Fed’s increased proficiency in directly guiding the market.

Now I know this is not shocking to many of us.  But to watch the market’s blatant irreverence toward a report that, with the flip of a switch, removed 12% of the presumed economic growth from the past 4 years did strike me as remarkable.  It shows that the printing of economic indicators is nothing but theater.  There is absolutely no rational market explanation that the market traded flat to up on the day when current GDP missed estimates  and the past 4 years of growth was adjusted downward, all in the midst of one of the worst seasons for YoY deteriorating corporate revenues/earnings.

But more realistically what it suggests is the only player left in the market is the ‘buyer of last resort’, i.e. the Fed and its minion entities.  Certainly nobody wants to aggressively short the market in the face of a clear long only strategy by the Fed, but just as certainly no major money managers are longing this market.  Volume has simply dried up.

I’ve been writing for almost a year now about the economic cannibalism that has been feeding earnings growth.  I have discussed this concept with a dire warning that feeding earnings expansion through operational contraction is a short lived meal.  And well we are now seeing the indications that the growth through contraction has now hit its inevitable end.  Have a look at the following chart which is really the only chart one needs to study at this point.  The chart depicts S&P 500 adjusted earnings per share (blue line), S&P Price level (green line), S&P 500 Revs per share (red line) and US Productivity of Total Industry (olive line).

Screen Shot 2015-07-27 at 2.03.09 PM

I have normalized the parametres back to the early 1990’s so that we can better understand the absurdity of what’s been taking place.  Now there is a tremendous amount of information
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Zero Hedge

Enemy Of The People?

Courtesy of ZeroHedge. View original post here.

Via The Zman blog,

There has never been a time when normal people did not know the media was biased and biased in a predictable direction. For every non-liberal in the media, there were at least ten liberals. The ratio was probably higher, but then, as now, some lefties liked to pretend they were independents or some third option.

The media used to invest a lot of time denying they had a bias and an agenda, but the only people who believed them were on the Left, which had the odd effect of confirming they had a bias and an agenda.

...



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Phil's Favorites

A 2019 Earnings Recession?

 

A 2019 Earnings Recession?

Courtesy of 

Shout to Leigh!

On the new Talk Your Book – Josh Brown is joined by Leigh Drogen of Estimize, one of the leading providers of crowdsourced financial and economic data to talk about the trend in corporate profits that could potentially lead to an earnings recession later this year.

What is the thing that Leigh is seeing in the data that Wall Street isn’t yet picking up on? What segment of the stock market is most at risk? Why is the crowd smarter than the narrow consensus of Wall Street analysts?

Check out Estimize ...



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ValueWalk

D.E. Shaw Investment Calls For Leadership Change At EQT

By ActivistInsight. Originally published at ValueWalk.

Elliott Management has offered to acquire QEP Resources for approximately $2.1 billion, contending the oil and gas explorer’s turnaround efforts have done little to lift the company’s share price. The company responded and said that a thorough review of the proposition is imperative in order to properly act in the best interests of shareholders, “taking into account the company’s other alternatives and current market conditions.” The news came only a month after Travelport Worldwide agreed to sell itself to Siris Capital Group and Elliott’s private equity arm Evergreen Coast Capital for $4.4 billion in cash and two months after Athenahealth was bought by Veritas and Evergreen for $5.7 bi...



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Kimble Charting Solutions

Gold & Silver Testing Important Breakout Levels!

Courtesy of Chris Kimble.

Gold and Silver from a long-term perspective have created a series of lower highs over the past 8-years. Will 2019 bring a change to this trend? A big test is in play!

Gold since the lows in 2016 has created a series of higher lows, while Silver may have created a double bottom.

Gold & Silver are currently facing break attempts a (1) and (2). These falling resistance lines have disappointed metals bulls for the past few years.

The direction of Gold and Silver weeks and months from now should be highly influenced by what each does as they are attempting to break above important resistance levels.

To become a member of Kimbl...



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Insider Scoop

UBS Says Disney's Streaming Ambition Gives It A 'New Hope'

Courtesy of Benzinga.

Related DIS Despite Some Risks, Analysts Still Expecting Double Digit Growth From Communications Services In Q4 ...

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

Digital Currencies

Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions

Courtesy of Zero Hedge

While the market has been increasingly focused on the rising headwinds in the global economy in general, and China's economic slowdown in particular, while the media is obsessing over daily revelations that Trump may or may not have colluded with Russia to get elected, a far more critical, if underreported, shift has been taking place over the past year.

As we reported in June, whether due to concerns over draconian western sanctions and asset confiscations following the poisoning of former Russian military officer Sergei Skripal, or simply because it wanted to diversify away from the dollar, Russia liquidated virtually all of its Treasury holdings in the late spri...



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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 failure based on his personality, which was evident years ago. This article, written in 2017, references a prescient article Bill wrote before Trump became president, in July, 2016, 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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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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