Posts Tagged ‘CIC’

Thrilling Thursday Morning

And we are off!

AA beat earnings yesterday and the dollar continued to dive to the lowest level since July of 2008, when the $168Bn Bush stimulus package was considered highly inflationary but that didn’t stop oil from diving from $147.90 on July 1st all the way down to $35.13 in December and it didn’t stop gold from falling from $989.60 all the way down to $681 as quickly as October.  Gold has me particularly worried at the moment because half the investors are piling into low interest T-Bills and half the investors are putting all their money into shiny bits of metal and no matter what happens, half the investors are going to be very, very wrong.

Nonetheless, today seemed as good a time as any to put up a new Watch List for Members as we are way too bearish if we are going to make new closing highs and we need to balance out with some more bullish positions.  We’ll be looking for action that beats our best September closes of Dow 9,829, S&P 1,071, Nas 2,146,  NYSE 7,047 and RUT 620 to confirm that this really is a new rally and not just the double top we’ve been thinking it was.  Our plan for today is to roll our short plays along as October if we are clearing those levels but, otherwise, we will simply be scaling in and rolling our long put covers higher.

My overriding concern is still that the dollar is way too low and although it’s making China happy (their Yuan is pegged to the dollar so Chinese exports are super-cheap again), it’s making Japan miserable and Europe is starting to get very nervous as well.  Remember that China played this perfectly as they stockpiled 50% of the world’s annual supply of copper earlier this year as well as many other precious metals and then they began making comments that took down the dollar, giving them a huge windfall on their trading. 

Of course China is only the 7th largest Soveriegn Wealth Fund playing our markets with the cash we’ve sent them over the years.  China’s 3 SWFs rank only behind the UAS combined $709Bn from the Abu Dhabi Investment Authority and the ICD.  Saudi Arabia’s has just the one $431Bn SAMA Foreign Holdings to represent their interest in global commodity bidding.  China and the UAE are eclipsed only by our own Goldman Sachs (technically not a government fund despite the…
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Phil's Favorites

THINK AGAIN

 

THINK AGAIN

Courtesy of Grant's Almost Daily 

Monetize this. The Treasury Department announced Monday that it projects $947 billion in debt issuance over the next three months, up 40% from a $677 billion forecast issued in May. The fourth quarter should see still more supply, with estimated marketable debt issuance of $1.216 trillion, or a further sequential increase of 28%.  

Depending on the outcome of the congressional stimulus negotiations currently underway in Washington, those figures could increase further. The Congressional Budget Office pencils in a $3.5 trillion budget deficit in the 12 months through Sept. 30, compared to just under $1 trillion in fiscal 2019. 

Of course, all that debt will need to find...



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Zero Hedge

Microsoft Reportedly Expands Scope Of TikTok Deal Talks To Cover Entire Ex-China Business

Courtesy of ZeroHedge View original post here.

Updates about the ongoing deal talks between Microsoft and ByteDance are arriving almost as rapidly as updates about the ongoing negotiations between the White House and Congressional Democrats over an extension of financial relief for American citizens and businesses.

And the latest report comes from the FT, which says that Microsoft and ByteDance ar...



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ValueWalk

Coronavirus stimulus checks: McConnell ready to delay Aug recess

By Aman Jain. Originally published at ValueWalk.

We are now just days away from the August 7 deadline for the next coronavirus package. Though negotiators are working hard to come up with a deal, there are still differences between the two sides. In case there is no decision on the coronavirus stimulus checks deal by August 7, Senate Majority Leader Mitch McConnell has assured that they will delay the scheduled recess. Presently, the last day in session is scheduled for August 7, after which the Senate will go on a month-long break until September 8.

Q2 2020 hedge fund letters, conferences and more

Coronavirus stimulus: pr...

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Kimble Charting Solutions

Silver Headed Back To $50, Top Of The Cup & Handle Pattern?

Courtesy of Chris Kimble

Could Silver be creating a multi-decade bullish “Cup & Handle” pattern? Possible!

Did a retest of a handle breakout take place in March at (1), where Silver created one of the largest bullish reversals in decades? Possible!

Could Silver be creating a 40-year bullish pattern? Anything is possible! I humbly have to say share this; I’ve been in the business for 40-years and I haven’t seen anything like this.

Silver looks to have double topped back in 2011 at $50, which was the 1980 highs. After double topping, Silver ...



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The Technical Traders

Walk Through the Gold and Silver Charts to See What to Expect

Courtesy of Technical Traders

Check out the analysis of this morning’s Gold and Silver charts by our own Chris Vermeulen, Chief Market Strategist and Founder of TheTechnicalTraders.com, to see what is in store for precious metals. Make sure you check out our Gold and Silver article from August 4th, 2020 for additional context behind our predictions and rationale for continued price appreciation.

Learn more about our ...



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Biotech/COVID-19

What the huge COVID-19 testing undercount in the US means

 

What the huge COVID-19 testing undercount in the US means

Health care workers use a nasal swab to test a person for COVID-19 in Pembroke Park, Florida. Joe Raedle / Getty Images News

Courtesy of Melissa Hawkins, American University

Researchers from the Centers for Disease Control and Prevention and other institutions recently published a study which estimated that the true number of people infected by COVID-19 could be six to 24 times high...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Sunday, 29 March 2020, 07:00:37 PM

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Comment: Silver Shorts Are In a Bind | Ted Butler youtu.be/qQc0AoJp-Q8



Date Found: Monday, 30 March 2020, 05:21:45 PM

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Comment: 5 Questions From You for Luke Gromen youtu.be/nVZD_fuxbQE


...

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Digital Currencies

Twitter Says "Human Error" And "Spear-Phishing Attack" Responsible For Massive Bitcoin Hack

Courtesy of ZeroHedge

Twitter suffered from a major hack about two weeks ago and has now said that its staff was tricked by "spear-phishing", which is a targeted attack to trick people into simply handing out their passwords. 

Twitter staff were targeted through their phones, according to a new report from the BBC. The attacks then allowed hackers the ability to Tweet from celebrity Twitter accounts. Twitter has said it was "taking a hard look" at how it could improve its permissions and processes.

"The attack on July 15, 2020, targeted a small number of employees through a phone spear phishing attack. This attack relied on ...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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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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