Posts Tagged ‘casinos’

Tempting Tuesday – Lead Us Not Into Betting on Bounces

"Forgive us our debts, as we have also forgiven our debtors."

Hah – what a crock!  How many people who have recited that prayer have forgiven any debts?  How many have had debts forgiven?  Certainly none of the G20, who owe each other tens of Trillions of Dollars and certainly not Argentina's bondholders, who drove the nation to default and certainly not the bondholders of THREE Atlantic City Casinos that are on the verge of shutting down and putting 10,000+ people out of work in a county of 275,000 so about 5% of the working population.

Are casinos simply a bad business or is the economy not quite as strong as we are led to believe?  

In the past 14 years, we have more than tripled the debt of the first 224 years of our nation's existence and, in the next 7 years, we are on track to add 150% more (than the $5Bn we had when Clinton left office).  

The $2.4Bn Revel Casino opened in March of 2012 and was $1.5Bn in debt at the beginning of 2013 but did a pre-packaged bankruptcy last year that cut the debt to $272M but it's been hemorrhaging money since and the value of the casino has been slashed to $450M yet an auction scheduled for yesterday got ZERO bidders, which may now lead to yet another bankruptcy – making it an annual event.  

This is no run-down property, this is a beautiful, modern building that LOOKS like $2.4Bn was spent to build it.  It's a beautiful property with nice restaurants and great rooms and a nice beach and a swim out pool on the deck so you can use it even in the winter – no expense was spared but, like many grand projects, the cash flow isn't there to support the great dreams of the creators

Even at $450M, if you could sell the 1,400 rooms (57 floors) into condos and got $300,000 for 1 bedroom apartments, that's only $420M and wouldn't be worth the effort.  So, if you can't do that and you need 3,800 people to run the casino/hotel – that's a pretty big nut to cover each month.  The casino loses roughly $3M per…
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Unfuckingbelievable: Goldman Has Zero Trading Loss Days In Last Quarter

Unfuckingbelievable: Goldman Has Zero Trading Loss Days In Last Quarter

Courtesy of Tyler Durden at Zero Hedge 

If you ever wanted to see what monopoly looks like in chart form, here it is:

In the quarter ended March 31Goldman made money on every single trading day. The firm did not record a loss of even $0.01 on even one day in the last quarter. That’s 63 days profitable out of 63 trading days. The statistic probability of this event is itself statistically undefined. Goldman is now the market – or, in keeping with modern market reality, Goldman is the house, it controls the casino, and always wins. Congratulations America: you now have far, far better odds in Las Vegas that you have making money with your E-Trade account.

Adding to the alice in wonderland insanity of this announcement, the firm made over $100 million daily on 35 different days. Of Goldman’s $9.7 billion in total Q1 revenue, 76% came from trading. Forget investment banking, forget underwriting, forget advisory: over three quarters of the firm’s value is based on being the house to the biggest corrupt casino in existence. Ever. 

 


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Kimble Charting Solutions

Are Interest Rates Peaking? Watch The Copper/Gold Ratio!

Courtesy of Chris Kimble.

If you spend time researching market relationships you can better understand money flows, rotation, and reasons why money flows rotate. This can be very helpful in identifying trend changes as well.

Today, we’ll look at the relationship between 10 Year US Treasury Bond Yield (INDEXCBOE: TNX) and the ratio of Copper (NYSEARCA: JJC) to Gold (NYSEARCA: GLD).

Interest Rates Peaking?

Looking at the chart below, we can see that treasury yields and the Copper/Gold ratio tend to peak and bottom together – this has occurred several times over the past 5 years.

Currently, the 10 Year Yield is forming a bearish head and shoulders pattern (in red) at the same time that the Copper/Gold ratio is testing important support...



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Phil's Favorites

What are rare earths, crucial elements in modern technology? 4 questions answered

 

What are rare earths, crucial elements in modern technology? 4 questions answered

A handful of europium. Alchemist-hp, CC BY-SA

Courtesy of Stanley Mertzman, Franklin & Marshall College

Most Americans use rare earth elements every day – without knowing it, or knowing anything about what they do. That could change, as these unusual materials are becoming a focal point in the escalating trade war between the U.S...



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Zero Hedge

The 1997 Asia Crisis: "We Were There"

Courtesy of ZeroHedge. View original post here.

Authored by Nicholas Colas via DataTrekResearch.com,

Having covered cyclical industries (primarily autos, in my case) since the early 1990s, I vividly remember every financial crisis of the last 30 years because “my” stocks always get destroyed in the process. Based on that experience I can tell you every such event feels unique and shocking as you transit through them. To borrow from Tolstoy, every happy market is the same, but every crisis market is different in its own way.

...



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ValueWalk

Senator Elizabeth Warren Speaks with Jim Cramer [TRANSCRIPT]

By Jacob Wolinsky. Originally published at ValueWalk.

The following is the unofficial transcript of a CNBC interview with Senator Elizabeth Warren and CNBC’s Jim Cramer on “Mad Money w/ Jim Cramer” (M-F 6-7PM) today, Wednesday, August 15th. The following is a link to video of the interview on CNBC.com: https://www.cnbc.com/video/2018/08/15/sen-elizabeth-warren-trade-deals-help-companies-not-workers.html.

...



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Insider Scoop

Vertical Group Turns More Bearish On Tesla, Doesn't Expect Company To Go Private

Courtesy of Benzinga.

Related TSLA Upcoming Earnings: Tech Giant Nvidia Unveils New GPUs Ahead Of Q2 Results The Downfall Of Elon Musk ...

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Chart School

Bitcoin Update - 6000 is support

Courtesy of Read the Ticker.

Demand shows it hand at support levels, well it obvious that $6000 BTCUSD is support so far.

More from RTT Tv , Ref: Brazil bitcoin currency , Brazil New Accounts
 


 

Main Chart in video



 

Sure fundamentals...



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Biotech

Here's what we know about CRISPR safety - and reports of 'genome vandalism'

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

 

Here's what we know about CRISPR safety – and reports of 'genome vandalism'

A standee of the movie ‘Rampage’ at a theater in Bangkok, Thailand. Scientists in the film used CRISPR to create a monster. By Sarunyu L/shutterstock.com

Courtesy of Jianhua Luo, University of Pittsburgh

A movie just recently released called “Rampage” features Dwayne “The Rock” Jo...



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Digital Currencies

What is a blockchain token?

 

What is a blockchain token?

What’s this digital token good for, anyway? knipsdesign/Shutterstock.com

Courtesy of Stephen McKeon, University of Oregon

People are just becoming acquainted with the idea of digital money in the form of cryptocurrencies like bitcoin, where transactions are recorded on a secure distributed database called a blockchain. And now along comes a new concept: the blockchain-based token, which I’ve been following as a blockchain researcher a...



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Members' Corner

There Are 3 Main Theories That Explain Trump's Approach to Putin and Russia-Which One Makes the Most Sense?

What do you think?

Thom Hartmann suggests that the "Manchurian Candidate theory" is the least likely explanation for Trump's pro-Russia behavior in "There Are 3 Main Theories That Explain Trump’s Approach to Putin and Russia—Which One Makes the Most Sense?" (below).  disagrees and suggests that Putin probably has "the goods" on Trump in "Trump’s Plot Against America". (To be fair, Hartmann acknowledges that his three theories are not mutually exclusive.) Jonathan Chait argues ...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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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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All About Trends

Mid-Day Update

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

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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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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