Archive for 2016

Generac to Acquire Majority Share of PR Industrial; Terms Not Disclosed

Courtesy of Benzinga.

Generac Holdings Inc. (NYSE: GNRC) announced today the signing of an agreement to acquire a
majority share of PR Industrial S.r.l and its subsidiaries, owner of the
Pramac® brand (collectively Pramac). The transaction is expected to
close prior to the end of the first quarter of 2016.

Founded in 1966 by the Campinoti family and headquartered in Siena,
Italy, Pramac is a leading manufacturer of stationary and mobile
generators for a variety of commercial and industrial applications
primarily sold under the Pramac® brand, as well as portable generators
used for numerous residential, light construction and recreational
purposes. The company also

See full press release

“Autocracy” Vs. “Democracy”: Stunning Before And After Pictures Of Syria’s Largest City

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

As we documented last autumn in “Syria Showdown: Russia, Iran Rally Forces, US Rearms Rebels As ‘Promised’ Battle For Aleppo Begins,” Syria’s largest city has been among the hardest hit of the country’s urban centers over the course of the last five years.

Newsweek documented the destruction in a series of stark and profoundly indelible images in 2012, perhaps the most striking of which was this:

Recapturing the city is critical to restoring Bashar al-Assad’s grip on power.

If Aleppo is liberated, the rebellion will be all but crushed. The Alawite government would once again control the country’s urban backbone in the west and, more importantly from a big picture perspective, Iran would have scored a major victory in the effort to preserve the Shiite crescent not to mention its supply lines to Hezbollah.

Likewise, a victory at Aleppo would invalidate US claims that Vladimir Putin was destined to get Moscow into a “quagmire” in Syria and the Russians would score a major geopolitical coup by effectively replacing the US as Mid-East superpower puppet master.

As for the Gulf monarchies, the demise of the Sunni insurgency in Syria would be a bitter blow. The effort to roll back Iranian influence would be forever remembered as an abject failure and Tehran would score sectarian bragging rights over Riyadh just as international sanctions are lifted and Iran ramps up crude production.

So important is the battle for the city that Quds commander Qassem Soleimani himself supervised the initial stages of the push north from Latakia before disappearing into thin air in November only to resurface two days ago at a rally celebrating the Islamic Revolution. 

Now that the eyes of the world are on Aleppo which may well go down in history as the site where World War III began, we thought it an opportune time to bring you the following before and after images which depict what life was like in the city under the “brutal dictatorship” of Bashar al-Assad and what life is like now that the US has exported democracy to Syria.











“Yes we can”… destroy the entire Middle East…

h/t: @BBassem7 and @lika__333

Washington’s Dismal Comedy Of Terrors – When In Doubt Bomb Syria

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Jeffrey St.Clair via,

Poor ISIS. Try as they might, the men in black still can’t out-terrorize their enemies or, more pointedly, even their patrons. For the past three years, decapitations have served as the money shots for ISIS’s theater of cruelty. Then on New Year’s Day the Saudis upstaged ISIS by audaciously chopping off the heads of 47 men, including a prominent Shia cleric.

This act of brazen butchery is made all the more horrific by virtue of the fact that the Saudi head-slicers recently landed a seat on the UN Human Rights Council, largely at the insistence of British Prime Minister David Cameron, who personally vouched for the petro-autocracy’s acute sensitivity to matters of civil liberties and the humane treatment of prisoners. Then again the drone-troika of Britain, France and the U.S. also enjoy seats on the council, so perhaps the Saudis have earned their slot after all.

With his peculiar fondness for porcine heads, Cameron is probably the Kingdom’s most un-kosher ally, but he is far from Saudi Arabia’s only political cheerleader. Showing a stunning lack of judgment, Comandante Bernie Sanders says his Syrian strategy relies on the Saudis taking the lead in the fight against ISIS. “They’ve got to get their hands dirty,” Sanders inveighed to Wolf Blitzer on CNN. “They’ve got to get their troops on the ground. They’ve got to win that war with our support. We cannot be leading the effort.”

Apparently Sanders skipped the briefing on how ISIS’s apocalyptic ideology has been fueled by fire-breathing Wahhabi preachers financed by the Saudi royal family. The red senator also seems ignorant of the fact that ISIS functions as shock troops for the House of Saud in its proxy war against Iran, now raging in Yemen and Iraq, as well as Syria. You’d think that Bernie would be getting better advice from his friends in Israeli intelligence.

Sanders’ policy on Syria is naïve to the point of doltishness. But Hillary’s Syrian war plan—shared by most of her Republican rivals—borders on the pathological. Having not missed a minute of sleep haunted by the corpses of Libya, Mrs. Clinton is now stumping for the dismantling of Syria, using the carefully cultivated domestic anxiety over ISIS as the pretext. The cornerstone of Hillary’s rogue scheme is the imposition of a no fly…
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China Exports Crash Most In 6 Months Despite “Devalued” Yuan

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Despite the weakening of the Yuan, China exports collapses 6.6% YoY in January (massively missing the 3.6% increase expected). Imports continued their 15 month series of collapses with a 14.4% plunge (again drastically worse than the 1.8% increase expected). This pushed the trade balance to a record surplus CNY406bn.

In Yuan terms it's ugly… Both imports and exporets were worse than the lowest forecast of all professional economists…

But in USD terms it's a disaster…

Of course, between Japan's disastrous GDP and China's trade collapse, this is great news for those demanding moar as excuses for extreme monetary policy are just piling up in the ashes of previous failed policies.

Of course what everyone is really waiting for is the Hong Kong trade data to see just how much capital "leaked"…

When Trust Is Bust – All The Charts You Can Eat

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

In his inimitable manner, Abraham Gulowitz unleashes 18 new pages of "all the charts you can eat" to expose the ugly reality of what is going on everywhere.

Trust Busters…

Market participants had penciled in stronger economies for 2016 and even a series of rate hikes by the Fed. Feeble world growth signals, the fallout from crashing oil and a weaker China plus tumultuous markets have combined to seriously dent expectations and encourage a serious reassessment of economic and financial prospects. Global equity prices have slumped by double digits so far this year and risk aversion has spread rapidly through the credit markets.

Reliable indicators of previous recessions have started to flash danger signals. We highlight several of these stats in this issue, and though specific explanations can be found to excuse each of these data readings, the abundance of warning indications cannot be dismissed. Both corporations and central bankers have queued up to warn about increased downside risks to the business and financial outlook, while at the same time seeking to reassure that renewed downturns are still likely to be avoided. But the risks have already increased that financial market conditions may yet feed through to the real business economy.

The greatest disappointment has to be the meager results emanating out of the massive and unprecedented easing around the globe. There is now little confidence in even the drastic measures that have been undertaken by central banks.

The experiments with negative interest rates conducted by a number of central banks trying to ward off deflation – – Switzerland, the eurozone and Denmark among them – – and now Japan, have yet to provide definitive conclusions. It does demonstrate, however, that too many economies are still struggling to grab onto sustainable growth paths with positive pricing power.

Engines of Growth are Sputtering…

Intense and confusing stress signals emanating from around the globe but particularly from China, the commodity markets, high yield and key emerging markets have confounded investors and contributed to intermittent bouts of severe volatility. Despite extensive and massive easing, most of the global economy still faces woefully inadequate growth prospects and difficult policy options.

The U.S. stands alone in the shift in monetary policy and the improvement in job markets.

Very obvious financial vulnerabilities and serious geopolitical concerns are

continue reading

How The Clintons Enabled The 2008 Economic Crisis And Financial Coup d’Etat

Courtesy of Jesse's Cafe Americain

"The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises.

If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time."

- Simon Johnson, The Quiet Coup

“A true opium of the people is a belief in nothingness after death – the huge solace of thinking that for our betrayals, greed, cowardice, and even murders that we are not going to be judged.”

- Czes?aw Mi?osz

As economist Simon Johnson put it so aptly, there was a 'financial coup d'etat' in the States. It was the result of a longer term and well-funded effort as documented by PBS Frontline and others.

People forget all too quickly what has happened, even things that happened less than twenty years ago. Perhaps it is easily forgotten because there are so few counterexamples of honesty and decency these days in government and business to hold up in comparison. The UK and Canada are following in lockstep, as well as the central government for Europe in Brussels.

The Clintons, along with a large group of Republican Congressmen and compliant Democrats, put a 'for sale' sign not only on the Lincoln bedroom as you may recall, but on the rest of the White House and the Capitol, and indeed, the well being of the people of the United States.

They certainly did not do it alone, as it was a bipartisan effort to overturn the protections established in the darker days of the Great Depression. But the money was good, and it was there for the taking, and with it the enormous power to threaten or reward those around them.

And it became the thing to do in Washington and New…
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PBOC Strengthens Yuan Most In 3 Months As China Stocks Tumble After Holiday

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

With China returning from the Spring Golden Week holiday, it is catch-up time for the Yuan (notably higher against a weakening USD) and Chinese stocks (significantly lower – though not as much as some might have expected given China ETFs). The PBOC strengthened the Yuan Fix by the most since the first week of November, catching it up to the 15 handle strengthening in offshore Yuan since the pre-holiday lows.

The Yuan Fix is significantly higher…

As it catches up to the huge strengthening in offshore Yuan (thought note that CNH is being sold pretty hard as China opens)..

But it appears someone is not happy about the selling…

And equities are catching down to the rest of the world's weakness…

But not as much as expected…

  • *CHINA'S CSI 300 INDEX SET TO OPEN DOWN 2.5% TO 2,888.43

All this is happening just hours  PBOC Governor Zhou Xiaochuan broke his long silence to say there’s no basis for continued yuan depreciation… which is exactly what he would say after a capital outflow of $1 trillion in the past 18 months.

The nation’s balance of payments is good, capital outflows are normal and the exchange rate is basically stable against a basket of currencies, Zhou said in an interview published Saturday in Caixin magazine.

As Bloomberg writes, that’s an escalation in verbal support after such comments have been left in recent months to deputies and the central bank research department’s chief economist. Zhou dismissed speculation that China plans to tighten capital controls and said there’s no need to worry about a short-term decline in foreign-exchange reserves. The country has ample holdings for payments and to defend stability, he said.

"He’s desperately trying to make sure that all of his work in the past few years on capital liberalization does not go to waste," said Victor Shih, a professor at the University of California at San Diego who studies China’s politics and finance. "He’s trying hard to instill investor confidence in the renminbi so that the Chinese government does not have to resort to the extreme measure of unwinding all of the progress on offshore renminbi in the past few years."

The comments come as Chinese financial markets prepare to reopen Monday after

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Details in Flux in Death of Justice Scalia

Courtesy of Pam Martens.

Cibolo Creek Ranch Where Antonin Scalia Died Is Located in an Isolated Area of Texas

Cibolo Creek Ranch Where Antonin Scalia Died Is Located in an Isolated Area of Texas

The facts surrounding the death of Associate Supreme Court Justice, Antonin Scalia, are in a state of continual flux. The question is why?

The highly controversial Justice is reported to have died sometime between Friday night and Saturday morning at an isolated 30,000-acre luxury resort, Cibolo Creek Ranch in West Texas. The ranch is 30 miles from civilization. Scalia was initially reported to have gone there with “a friend” to quail hunt but that has been called into question. The name of the friend has not been released, raising more questions as to why the public has been denied a full accounting of the matter.

The owner of the resort, John Poindexter, a Houston multi-millionaire, told NBC News that Scalia arrived at the ranch at around noon on Friday on a charter flight from Houston. As for the quail hunting, Poindexter says that after Scalia arrived on Friday, he “didn’t exert himself at all.” ABC News is reporting today that a local County Judge spoke with Scalia’s personal physician in Washington D.C. who indicated that he had seen Scalia last week for a shoulder injury – raising the likelihood that Scalia would not have been risking further injury by using a rifle to hunt. Scalia would have turned 80 next month.

According to the Austin American Statesman, Scalia “was staying at the invitation and expense of Poindexter.” The paper quoted George E. Van Etten, a public relations consultant for the ranch, who said that Scalia was part of a larger weekend group at the ranch that included a number of “high profile” individuals. Van Etten would not provide those names either.

Mainstream media reported yesterday that Scalia had gone to bed early after dinner on Friday night, telling the other guests he was not feeling well. When Scalia did not come down for breakfast on Saturday morning, according to the reports, the rest of his hunting party left without him. That also raised the question as to why friends would not have checked to make sure he was okay before going off to hunt, particularly after he had reported not feeling well the evening before.

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Who Said It 13 Years Ago?: “Mr. Greenspan, You Are Way Out Of Touch”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

As you might have noticed, Bernie Sanders isn’t exactly enamored with the growing divide between the rich and the poor in America.

In fact, the firebrand senator from Vermont hates inequality worse than just about anything else in the world, and he’s pretty clearly willing to make the federal government even more bankrupt than it already is if it means leveling the playing field for the country’s beleaguered masses who have been forced to watch as trillions in QE have made the likes of Jamie Dimon and Lloyd Blankfein billionaires even as wage growth for everyday Americans remains stuck in neutral.

Make no mistake, a big part of why the haves are increasingly better off than the have-nots in America is Fed policy. By inflating the value of the assets most likely to be concentrated in the hands of the rich, you are deliberately exacerbating income inequality. Or, as Hank Paulson put it: “we made it wider!”

Of course Ben Bernanke will tell you this isn’t the case. It’s the whole “wealth effect” idea, whereby driving up stock prices is supposed to make Joe The Plumber feel better about his 401k, which was wiped out in a flurry of collapsing counterparty chaos in September of 2008. Additionally, banks are supposed to be lending their excess reserves thus stimulating the real economy. Only that’s not what’s happened. Mom and pop up and left the market and never came back after the crash and economic growth is so subdued that the credit impulse simply isn’t there.

Instead, all the Fed did was make the rich richer. Much richer. So rich in fact, that Modiglianis are now going for $170 million even as a record number of Americans are on food stamps.

Now that Bernie Sanders has emerged as a very serious contender for The White House and now that the world has suddenly woken up to the fact that central bankers may have no idea whatsoever about what they’re doing, we thought this an opportune time to bring you the following blast from the past, in which Bernie Sanders lambasts Alan Greenspan (the “maestro” of all that’s wrong with the American economy) in a truly epic diatribe that will have you torn between your hatred for central bankers
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A Contagious Crisis Of Confidence In Corporate Credit

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Excerpted from Doug Noland's Credit Bubble Bulletin,

Credit is not innately good or bad. Simplistically, productive Credit is constructive, while non-productive Credit is inevitably problematic. This crucial distinction tends to be masked throughout the boom period. Worse yet, a prolonged boom in “productive” Credit – surely fueled by some type of underlying monetary disorder – can prove particularly hazardous (to finance and the real economy).

Fundamentally, Credit is unstable. It is self-reinforcing and prone to excess. Credit Bubbles foment destabilizing price distortions, economic maladjustment, wealth redistribution and financial and economic vulnerability. Only through “activist” government intervention and manipulation will protracted Bubbles reach the point of precarious systemic fragility. Government/central bank monetary issuance coupled with market manipulations and liquidity backstops negates the self-adjusting processes that would typically work to restrain Credit and other financial excess (and shorten the Credit cycle).

A multi-decade experiment in unfettered “money” and Credit has encompassed the world. Unique in history, the global financial “system” has operated with essentially no limitations to either the quantity or quality of Credit instruments issued. Over decades this has nurtured unprecedented Credit excess and attendant economic imbalances on a global scale. This historic experiment climaxed with a seven-year period of massive ($12 TN) global central bank “money” creation and market liquidity injections. It is central to my thesis that this experiment has failed and the unwind has commenced.

The U.S. repudiation of the gold standard in 1971 was a critical development. The seventies oil shocks, “stagflation” and the Latin American debt debacle were instrumental. Yet I view the Greenspan Fed’s reaction to the 1987 stock market crash as the defining genesis of today’s fateful global Credit Bubble.

The Fed’s explicit assurances of marketplace liquidity came at a critical juncture for the evolution to market-based finance. Declining bond yields by 1987 had helped spur rapid expansion in corporate bonds, GSE securitizations, commercial paper, securities financing (i.e. “repos,” Fed funds, funding corps) and derivative trading (i.e. “portfolio insurance”). Post-crash accommodation ensured that the Federal Reserve looked the other way as Bubbles proliferated in junk bonds, leveraged buyouts and commercial and residential real estate on both coasts.

It’s instructive to note that period’s momentous financial innovation/expansion.  In the 10-year period 1986 to 1995, total Debt Securities (from Fed Z.1 report) surged $7.097 TN, or 159%, to $11.574 TN. For
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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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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 ... 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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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

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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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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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...

Learn more About Phil >>

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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.

Market Shadows >>