Posts Tagged ‘derivatives trading’

What You Can Do To Bring Wall Street Under Control

What You Can Do To Bring Wall Street Under Control

Courtesy of Robert Reich  

The most important remaining battle to rein in Wall Street is over Senator Blanche Lincoln’s measure to stop the big banks from being subsidized by taxpayers for their risky derivative trades. Miraculously, it’s still in the bill but it’s on life support. The bill has now gone to the conference committee where differences between the House and Senate bills are to be ironed out.

But official Washington (read: dependent on Wall Street for money) is dead set against it. Even Barney Frank — who Massachusetts voters used to consider a reliable progressive until he became chair of the House Financial Services Committee — has vowed to kill Lincoln’s provision. And the White House says the measure is “not core,” which in Washington-lingo means “you’re free to dump it.”

Big, big money is at stake.  Wall Street’s five largest banks have a corner on the trade, raking in about in about $30 billion in over-the-counter derivatives last year. It’s the single largest reason they’re too big to fail. So they’re spending like mad on Washington lobbyists and campaign donations in order to keep the subsidy in place. (Lincoln’s provision doesn’t force them to give up derivative trading, by the way; it only forces them to do it in a separate entity that doesn’t get subsidized by deposit insurance or the Fed’s discount window). 

All the guns are aimed at this measure. But it’s still possible that the people can prevail, if we’re organized and active. Here’s a list of all the Dems on the Senate Banking and House Finance Committee, as well as Republican conferees. All conferees are indicated by ->. 

Organize and mobilize your friends and acquaintances, especially those who live in these states or districts, to call their members and make their voices heard. Tell them you want Lincoln’s measure (Section 716 of the Senate bill) to remain in the final bill. Say you’ll hold them responsible if it goes. 

Alabama -> Senator Richard C. Shelby (202) 224-5744

Arkansas -> Senator Blanche Lincoln (202) 224-4843

California -> Rep. Maxine Waters (202) 225-2201 (California-11)
Rep. Brad Sherman, CA (202) 225-5911
Rep. Jackie Speier, CA (202) 225-3531
Rep. Joe Baca, CA (202)225-6161

Colorado -> Senator Michael Bennet (D-CO) (202) 224-5852
Rep. Ed Perlmutter, CO 202.225.2645

Connecticut -> Chairman Christopher J. Dodd…
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Phil's Favorites

Tell Me a Story

 

Tell Me a Story

Courtesy of Scott Galloway, No Mercy/No Malice,@profgalloway

“A man’s reach should exceed his grasp, or what’s a heaven for?”

                                                    — Robert Browning

Entrepreneur is a synonym for salesperson, and salesperson is the pedestrian term for storyteller. Pro tip: No startup makes sense. We (entrepreneurs) are all impostors who must deploy a fiction (i.e. story) that captures imaginations and capital to pull the future forward and turn rhyme into reason. No business I have started, at the m...



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Biotech/COVID-19

Long COVID: For the 1 in 10 patients who become long-haulers, COVID-19 has lasting effects

 

Long COVID: For the 1 in 10 patients who become long-haulers, COVID-19 has lasting effects

Long COVID appears to affect about one in 10 people who have recovered from a COVID-19 infection. (Shutterstock)

Courtesy of Manali Mukherjee, McMaster University and Zain Chagla, McMaster University

Even as the unpredictable rise and fall of COVID-19 infections continues at home and around the world, a new and ugly pandemic-related problem is emerging.

We know it generically as “...



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Zero Hedge

Renting Robots For Less Than Minimum Wage Is A Boon For Companies

Courtesy of ZeroHedge View original post here.

Automation has rapidly expanded in businesses of all sizes to cope with rising wages and labor shortages. Robotics help firms streamline otherwise inefficient tasks and slash labor costs amid an inflationary environment. 

Orders for robotic machinery have jumped for automotive, agricultural, construction, electronics, food processing, and warehousing companies. The benefits of employing a robot over a human are now being realized for small and medium-sized companies. 

Jose Figueroa, wh...



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Chart School

Bitcoin Swings Down to Support

Courtesy of Read the Ticker

Come on! Seriously do you think a 400% rally for Bitcoin was going to be given to the public easily. Without any pain! Come on muppets!

The uniformed (public) buy when price is rising or breaking new highs, the informed buy when price is falling or breaking lows.

The informed have to do it this way as they are large volume players and the only way they can buy large volume is to create chaos. The chaos brings to the market the weak holders and a forced sell. Price is moved to where the volume can be accumulated, in a bull trend that is down to critical support.

Of course if price is in a true bull market the 'chaos' created should not break critical long term trend signals, the short and intermediate term signals are fair game. The next fe...

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ValueWalk

Elm Ridge 4Q21 Commentary: The Punch You Don't See

By Jacob Wolinsky. Originally published at ValueWalk.

Elm Ridge commentary for the fourth quarter ended December 31, 2021, titled, “The Punch You Don’t See.”

Q4 2021 hedge fund letters, conferences and more

“Graham and Dodd investors are people who place a very high value on having the last laugh. In exchange for the privilege they have missed out on a lot of laughs in between.” – Michael Lewis

“It’s the punch you don’t see coming that knocks ...



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Kimble Charting Solutions

Nasdaq Weakness Has Bears Circling Tech Stocks!

Courtesy of Chris Kimble

One theme over the past several months has been tech stock’s under-performance. And 2022 seems to be amplifying this theme as we kick off the new year.

Today’s chart focus is on the ratio of the Nasdaq Composite to the S&P 500 Index. We have shared this ratio a few times recently as the price pattern has become a concern.

As you can see in the chart, there’s a potential that the ratio double topped last year at the 2000 highs. And weakness this month has it attempting to break dual support at...



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Politics

What Supreme Court's block of vaccine mandate for large businesses will mean for public health: 4 questions answered

 

What Supreme Court’s block of vaccine mandate for large businesses will mean for public health: 4 questions answered

New York City’s vaccine mandates are unaffected by the court ruling. AP Photo/Mary Altaffer

Courtesy of Debbie Kaminer, Baruch College, CUNY

The U.S. Supreme Court on Jan. 13, 2022, blocke...



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Digital Currencies

The metaverse is money and crypto is king - why you'll be on a blockchain when you're hopping

 

The metaverse is money and crypto is king – why you’ll be on a blockchain when you’re virtual-world hopping

In the metaverse, your avatar, the clothes it wears and the things it carries belong to you thanks to blockchain. Duncan Rawlinson - Duncan.co/Flickr, CC BY-NC

Courtesy of Rabindra Ratan, Michigan State University and Dar Meshi, Michigan State University ...



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Promotions

Phil's Interview on Options Trading with TD Bank

TD Bank's host Bryan Rogers interviewed Phil on June 10 as part of TD's Options Education Month. If you missed the program, be sure to watch the video below. It should be required viewing for anyone trading or thinking about trading using options. 

Watch here:

TD's webinar with Phil (link) or right here at PSW

Screenshots of TD's slides illustrating Phil's examples:

 

 

&n...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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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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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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