Posts Tagged ‘criminal probe’

10 Things You Need To Know That Are Going On This Weekend

SPECIAL EDITION: 10 Things You Need To Know That Are Going On This Weekend

Courtesy of Joe Weisenthal, at Clusterstock 

It’s a Saturday, but it certainly doesn’t feel like it, because there’s a heck of a lot going on. 

Here’s what you need to be paying attention to this May Day.

  • Greece/IMF/EU talks continue. According to Greek government officials, some kind of announcement may be made today. The market is hoping to hear something that’s orders of magnitude stronger than any bailout announcement we’ve gotten so far, or otherwise the feeling will be that it can and will fall through again.
  • Of course, there are fresh violent, anti-austerity protests going on today in Athens. The fact that it’s May Day, a day for celebrating anti-capitalism only adds to the tension.
  • New reports suggest the criminal probe into Goldman Sachs is not just a perfunctory follow-on to the SEC charges, but rather a truly separate thing that’s wider than Abacus, and that started before the SEC’s investigation. HUGE.
  • With just five days before the election, UK’s The Guardian has endorsed the Liberal Democrats, the country’s biggest third party. Its leader, Nick Clegg, has surged thanks to a string of strong debate performances, Gordon Brown’s disastrous campaigning, and a lingering sense of unease with the conservatives.


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    Federal Prosecutors Conducting CRIMINAL Probe Of Goldman Sachs

    Federal Prosecutors Conducting CRIMINAL Probe Of Goldman Sachs

    Courtesy of Joe Weisenthal at Clusterstock 

    Banking CEO's Testify Before House On Use Of TARP Funds

    Following the SEC’s fraud charges against the firm, prosecutors have opened up a criminal probe of Goldman Sachs (GS), the WSJ is reporting this evening.

    There are several things to note here, particularly the fact that an initial probe is no guarantee that charges will actually filed. In fact, such initial probes are common after civil charges are brought.

    Although the ramifications of such a case would be enormous, the significant weaknesses and ambiguities that have emerged in the SEC’s case may make prosecutors gun-shy.

    Lady justice with scales

    Why else?

    Notes WSJ:

    But the Goldman probe presents a significant challenge for the government. Prosecutors in the Brooklyn office of the U.S. Attorney last year lost a high-profile fraud case against two former Bear Stearns Cos. executives, in the first major criminal case linked to the financial meltdown.

    Prosecutors had accused the Bear Stearns employees of lying to investors in 2007 about the health of two funds that eventually collapsed. The case centered on what the government viewed as incriminating emails indicating the traders knew the mortgage market would fall but didn’t disclose that view to investors.

    To bring any criminal charges in the Goldman matter, prosecutors would need to believe they had gathered evidence that showed that the firm or its employees knowingly committed fraud in their mortgage business. Proving such intent to break the law typically is the toughest hurdle for prosecutors to clear.

    Read the whole report > 


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    Phil's Favorites

    The day the growth trade topped

     

    The day the growth trade topped

    Courtesy of 

    One of the myriad ways you can spot a veteran investor amid a crowd of new or inexperienced investors – the veteran doesn’t need a reason to explain everything that’s happened. Veterans, after ten or twenty years, come to accept the randomness inherent in the game. Until you can accept that there isn’t always a reason for everything, it’s hard to move forward in this business.

    Sometimes psychology just changes and sellers become in the mood to buy, or buyers get in the mood to sell. The media takes note of this shift in behavior and attitudes, and it sets out to find a reason for ...



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    ValueWalk

    9 Tech Trends That Might Just Change The World

    By Luke Fitzpatrick. Originally published at ValueWalk.

    A lot can happen in a decade. Just take a look at how different life is today compared to 2010. Smartphones and automated technologies have made our lives much easier in a lot of ways, while the new age of constant connectivity has altered the way we work, shop, and relate to one another.

    Far from slowing down, the pace of progress is getting faster all the time. Some of the new technologies on the horizon are prone to change the world as we know it. Here are 9 tech trends to keep an eye on this year.

    1. Augmented human’s

    Like the smartphones in our pockets, humanity itself is going to get an upgrade. If the rapid rise of wearable technology is anything to go by, it’s...



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    Zero Hedge

    Afternoon Wood: ARK Founder Says "Carnage" Coming In Energy & Finance, "Optimistic" About Tech Names

    Courtesy of ZeroHedge

    Cathie Wood made the first appearance in her Monday media tour when she took to CNBC at 3PM eastern to talk about the tech rout, which has crushed numerous ARK ETFs. ARKK was plumbing new lows when the conversation started with "the woman who has captured the attention of Wall Street", as CNBC's Wilfred Frost introduced her.

    About The Sell Off

    When asked how concerned she was about the market, Wood did not attribute the tech pullback to rates rising. "We've been struck that the market never priced in 0.5%, 1% or 1.5% interest rates," she said. "Over time markets have used a normalized 3% to 5%, and we don't think that's why the market is correcting." ...



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    Kimble Charting Solutions

    China Creates Back To Back Bearish Patterns At 6-Year Resistance!

    Courtesy of Chris Kimble

    Could China be sending an important message to stocks around the world? Very possible!

    This chart looks at the Shangai Index on a monthly basis since the early 2000s.

    The index has peaked twice in the past 6-yeas at its 50% Fibonacci retracement level. These peaks took place in 2015 and 2017 and were followed by declines of at least 25%.

    The past two months it has tested this 6-year resistance line/50% Fibonacci level, where it created back-to-back monthly bearish reversal patterns.

    If the index closes much below risi...



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    Chart School

    Who is King? The Bond Market or the FED

    Courtesy of Read the Ticker

    The King Arthur story is battle between a false KING and the true KING. Generally the movie involves surprises, love and violence, and all this coming to the risk on markets very soon. 

    The financial blog space expects the FED to do some sort of Yield Curve Control (YCC) to hold interest rates down while inflation moves higher, this is allowing inflation to run hot. The FED wishes to do this over time to deflate the debt away. Very similar to the 1940's post WW2, yields were pegged to 2% and risk on assets went sky high.

    However Peter Boockvar suggest the FED may soon learn it is not in control and the true king of the markets is the BOND MARKET. Peter says simply the bond market is telling the FED to bite me!

    The FED is not us...

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    Biotech/COVID-19

    88% Of COVID Deaths Occurred In Countries Where Over Half Of Population Overweight

    Courtesy of ZeroHedge View original post here.

    A new report by the World Obesity Federation found that 88% of deaths in the first year of the pandemic occurred in countries where over half of the population is classified as overweight - which is defined as having a body mass index (BMI) above 25. Of note, BMI values above 30 - considered obese - are associated with 'particularly severe outcomes,' accor...



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    Politics

    Why repressive Saudi Arabia remains a US ally

     

    Why repressive Saudi Arabia remains a US ally

    A demonstrator dressed as Saudi Arabian Crown Prince Mohammed bin Salman with blood on his hands protests outside the Saudi Embassy in Washington, D.C., on Oct. 8, 2018. Jim Watson/AFP via Getty Images

    Courtesy of Jeffrey Fields, USC Dornsife College of Letters, Arts and Sciences

    Saudi Crown Prince Mohammad bin Salman “approved an operation … to capture or kill Saudi journalist Jamal Khashoggi,” according to a...



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    Mapping The Market

    Which Governments Ordered Johnson & Johnson's Vaccine?

     

    Which Governments Ordered Johnson & Johnson's Vaccine?

    Courtesy of Niall McCarthy, Statista

    On Wednesday, U.S. regulators announced that Johnson & Johnson's Covid-19 vaccine being developed by its subsidiary Janssen Pharmaceuticals in Belgium is effective at preventing moderate to severe cases of the disease. The jab has been deemed safe with 66 percent efficacy and the FDA is likely to approve it for use in the U.S. within days.

    The Ad26.COV2.S vaccine can be stored for up to three months in a refrigerator and requires a single shot, ...



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    Digital Currencies

    Crypto - It Is Different This Time

     

    Crypto – It Is Different This Time

    Courtesy of Howard Lindzon

    ?I have been astonished as you know by the growth of crypto.

    I remember back in 2017 when I noticed that Stocktwits message volume on Bitcoin ($BTC.X) surpassed that of $SPY. I knew Bitcoin was here to stay and Bitcoin went on to $19,000 before heading into its bear market.

    Today Bitcoin is near $50,000.

    Back in November of 2020, something new started to happen on Stocktwits with respect to crypto.

    After the close on Friday until the open of the futures on Sunday, all Stocktwits trending tickers turned crypto. The weekend messages on Stocktwits have increased 400 percent.

    That has continued each weekend...



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    The Technical Traders

    Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

    Courtesy of Technical Traders

    Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

    This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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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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    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

    Free, Live Webinar on Stocks, Options and Trading Strategies

    TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

    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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    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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