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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    Chart School

    Gann Angles on Dow and Gold

    Courtesy of Read the Ticker.

    Gann Angles measure price moves relative to time.

    The Dow is moving up the red Gann 1x1 line, so far the recent trend challenge has been over come. As price is near upper green dotted channel Gann angle from Oct 2007 price is now over bought. We can also see the very obvious Elliot 5 wave count from March 2009 lows, and a new Dow high would complete the 5 waves up.

    The red line indicator below the Dow price chart is readtheticker.com RTT Flow Index.


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    Gold (GLD) could not get over $130, so a reaction back to minor support at $115 was to be expected.  Support should be found here, an...

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    Zero Hedge

    This Is What Happens Behind Closed Doors When U.S. Presidents Meet With Fed Chairs

    Courtesy of ZeroHedge. View original post here.

    Last week, Donald Trump ventured into what until recently was uncharted, for US presidents, territory.

    First, during a CNBC interview, the president went so far as to say that the strong dollar "puts us at a disadvantage" then went on to do what so many consider anathema, and said he is "not thrilled" about the Fed rising rates "because we go up and every time you go up they want to raise rates again."

    One day later, Trump doubled down, ...



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    Phil's Favorites

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

    Theory Time

    Thom Hartmann suggests that the Manchurian Candidate theory is the least likely explanation for Trump's pro-Russia behavior in ...



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    Insider Scoop

    BofA Points To Yum China's Earnings Downside Risk In Downgrade

    Courtesy of Benzinga.

    Related 31 Stocks Moving In Friday's Mid-Day Session Benzinga's Top Upgrades, Downgrades For July 20, 2018 ...

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    Digital Currencies

    Citadel CEO Says Bitcoin Still A "Head Scratcher" But Billionaire Lasry Sees $40,000 Soon

    Courtesy of ZeroHedge. View original post here.

    Ken Griffin, the CEO and founder of the Citadel hedge fund, has reiterated his negative stance on Bitcoin (BTC) in an interview with CNBC this morning.

    Speaking at the Delivering Alpha Conference in New York, ...



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    Biotech

    How summer and diet damage your DNA, and what you can do

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

     

    How summer and diet damage your DNA, and what you can do

    Bright sun and fatty foods are a bad recipe for your DNA. By Tish1/shutterstock.com

    Courtesy of Adam Barsouk, University of Pittsburgh

    Today, your body will accumulate quadrillions of new injuries in your DNA. The constant onslaught of many forms of damage, some of which permanently...



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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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    ValueWalk

    Buffett At His Best

    By csinvesting. Originally published at ValueWalk.

    Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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    Kimble Charting Solutions

    The Stock Bull Market Stops Here!

     

    The Stock Bull Market Stops Here!

    Courtesy of Kimble Charting

     

    The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

    In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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    Members' Corner

    Cambridge Analytica and the 2016 Election: What you need to know (updated)

     

    "If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

    [Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

    "You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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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

    NewsWare: Watch Today's Webinar!

     

    We have a great guest at today's webinar!

    Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

    Join our webinar, free, it's open to all. 

    Just click here at 1 pm est and join in!

    [For more information on NewsWare, click here. For a list of prices: NewsWar...



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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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    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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