Business Summary Links By Day
Biderman: "Everyone Is Now A Seller Of US
Stocks" ZeroHedge.com Submitted by Tyler Durden on
05/31/2012 http://albertpeia.com/everyonenowasellerofusstocks.htm
‘Focusing on his supply-demand
perspective of what drives stock prices and the heavy volume of corporate
selling combined with mutual fund outflows that we have been so vociferous
about, Charles Biderman of TrimTabs
provides color on why, just like in 2010 and 2011, markets sold off in May.
Whether you believe it is explicitly the angst-inspiring European malaise, Facebook's flop, or US macro deterioration and a
pending fiscal cliff - the real driver is more shares chasing less cash as he puts
it and reflexively the news exaggerates it or stalls it. Stock prices are likely to keep
dropping, no matter what, until the Fed announces the next
stimulus/easing (as we all know) but unfortunately this will have no impact on
the real economy (though stocks will pop). Biderman berates the Fed for its constant
insistence that this time is different and as far as the election 'our policies will bring about sustainable recovery and jobs' promises we will
hear from both candidates, he succinctly summarizes thus: "What Bullshit! Where we are
now as a world is: it's ok for government to lie for their own benefit". , Albert Edwards Has Some Words Of Discouragement:
Welcome To S&P 500 Hell "Expect the S&P500 to
decline decisively below its March 2009, 666 intraday low. All hope will be crushed." http://albertpeia.com/sp500todeclinebelow666.htm , Guest Post: Uncle Sam Admits Monitoring You For These
377 Words http://albertpeia.com/usdhsadmitsmonitoringyouforthese377words.htm , Busting The "Core" European Myth
, Market Fails To Zucker In Gullible Traders With End Of
Day Stop Hunt , Guest Post: Facebook & the Bubble Mentality
So Facebook keeps falling, and is now floating around
the $27 mark. We’re a third of the way down to my IPO valuation of FB as worth roughly
$2-4 a share (or 5-10 times earnings), although I wouldn’t be surprised for the
market to stabilise at a higher price (at least until
the next earnings figures come out and reveal — shock horror — that Facebook is terrible at making money). The really stunning
thing is that even after all these falls, FB is still
trading at 86 times earnings. What the hell did Morgan Stanley think they were
doing valuing an IPO without any viable profit model at over 100 times
earnings? The answer is that this was an exit strategy. This IPO was about the
people who got in early passing on a stick of dynamite to a greater fool which
incidentally is precisely the same bubble mentality business model as bond
investors who are currently buying negative-real-yielding treasuries at 1.6%
hoping to pass them onto a greater fool at 0.5% (good luck with that). , Goldman Slashes Treasury Yield Forecasts If it appears like it was only yesterday that
Goldman was advising clients to short the 10 Year Treasury, it is because it
was... give or take a few months: From January: "Since the end of last
August, we have argued that 10-yr US Treasury yields would not be able to
sustain levels much below 2% in this cycle. Yields have traded in a tight range
around an average 2% since September, including so far into 2012. We are now of the view that a break
to the upside, to 2.25-2.50%, is likely and recommend going tactically
short. Using Mar-12 futures contracts, which closed on
Friday at 130-08, we would aim for a target of 126-00 and stops on a close
above 132-00." We added the following: "As a reminder, don't do what Goldman
says, do what it does, especially when one looks the firm's Top 6 trades for
2012, of which 5 are losing money, and 2 have been stopped out less than a
month into the year." Sure enough, as we tabulated last night, those who
had listened to this call, and also gone long stocks as Goldman urged on March
21, have lost nearly 30% in about 2 months.
Those who listened to us and did the opposite, well,
didn't. Which is why the just released note from the very same Garzarelli who 4 months ago was so gung ho on shorting
bonds, just cut his bond yield forecast for the entire world, US Treasurys included: "We now see 10-year US Treasuries
ending this year at 2.00% (from 2.50% previously, and 30bp above current
forwards), rising to 2.50% (previously 3.25%, and 60bp above the forwards) by
December 2013. The corresponding numbers for German Bunds are 1.75%
and 2.25%." In other words, it is now that Doug Kass should have made his short bonds call: not when he did
it, a month ago and got his face bathsalted right
off. For those asking - yes: Goldman is now selling bonds to clients. , Santelli On Capital Flight And Bond Contagion , Student Debt Bubble Delinquencies Surge , The
Inexplicable American Consumer Hits A Wall
, Spain
Just Gave Us a Glimpse Into the True State of the EU Banking System Posted by:
Phoenix Capital... Post date:
05/31/2012 This is the state of
affairs in Europe: bankrupt nations trying to bailout bankrupt banks or looking
for bailouts from funds that are backed by other bankrupt nations.What
could go wrong? http://albertpeia.com/truestateofeubankingsystem.htm
, Bonds Now Beating Stocks Year-to-Date , Spanish CDS Over 600bps Sends S&P Under 1300 , Market Shocked By Recessionary PMI Print, Gold
Pummeled, Apple Slides, FaceBerging Continues , US initial jobless claims +13k to 383k for the week
ended 26-May, above expectations of 369k, vs upward
revised 373k in the previous week. ,
Chicago PMI Plunges To 52.7, Lowest Print Since
September 2009 , First Q1 GDP Revision In Line With Expectations;
Initial Claims Spike , Bill Gross: The Global Monetary System Is Reaching Its
Breaking Point
Dave’s Daily: http://www.etfdigest.com MARKETS PREPARE FOR 2010 & 2011 REPRISE
5-31-12 ‘We may have short memories unless we like viewing long term charts.
From the latter we can see the same pattern—a “sell in May & go away”
followed by vicious trading ranges. In 2010 the churning lasted until QE began
in late August. Then markets rallied until QE ended in June 2011. The violence
began once again until December when investors thought the eurozone
was “fixed”. Now it’s the end of May and markets, once again, are in poor shape.Facts are different certainly. The eurozone is in a state of near collapse (“unfixed”).
Government 10 year bond yields from established countries (U.S.; 1.55%, Germany;
1.22% and Japan
.90%) are at record lows. What does this imply? Perhaps even depression
certainly. And, that prospect might mean another round of QE by June 20th
for another “stick save”.There’s also an election in Greece on June
16th with the outcome murky at best. More unsettling and painful to
observe is U.S.
elections in November. I say “painful” since the election will be ugly,
personal and petty. It will feature robotic talking points with no serious
discussion beyond them. Then there’s always the unknown.Certainly investors and markets are waiting
for Friday’s payrolls report with great anticipation. Cynically, the “bad news
is good, good news is better” theme may well dominate reaction to reports. The
worse things are the more likely more QE will be offered. This is Walter
White’s best crack to addicted trading desks and hedge funds. If things look
better from the report it may just be due to tens of thousands who have fallen
off the rolls and lost their benefits. That might be ignored by headline spin
which is just superficial “anything to sell some ads” for the financial media.So, I’m not feeling keen about things… can you tell?
Maybe I’m just getting old and have been older than the last three
presidents—always sobering.Anyway, the post today is
short since there’s too much tape tension regarding tomorrow’s data. Besides,
little happened Thursday beyond crummy economic data. Jobless Claims rose (383K
vs 373K prior), ADP Employment (133K vs 154K expected), GDP (1.9% vs
2.2% prior); and, Chicago
PMI sunk (52.7 vs 56.3 expected & 56.2 prior).
Despite these reports bulls kept things sideways and for the most part, orderly.Volume did increase Thursday in two-way action.
Breadth per the WSJ was as mixed as the markets…’ http://albertpeia.com/dave.htm
18 Examples
Of The Nanny State Gone Wild http://albertpeia.com/18examplesofnannystategonewild.htm
31-May-12
06:02PM Market Preview: Feel the Fear at TheStreet 05:21PM Tomorrow's Tape: the Big One, the Jobs Report at The Wall Street Journal 05:13PM Investors Find Splunking Better Than Friending at The Wall Street Journal
05:09PM Train Reading: Kreskin on Facebook at The Wall Street Journal
04:22PM Facebook Shares Stage Late-Day
Turnaround at The Wall
Street Journal 04:18PM After Miserable May, June Starts With Jobs Report (VIDEO) at Forbes 04:02PM STOCKS GO NOWHERE AFTER WAVE OF BAD NEWS: Here's What You Need
To Know Business
Insider 04:00PM Market on the Brink of Capitulation at Minyanville 03:24PM Goldman Sachs Slashes Treasury Yield Forecasts at The Wall Street Journal 03:15PM InPlay:
Stock indices edging up toward early afternoon rebound highs -- Dow +21,
S&P -0.3, Nasdaq Comp -8.7 Briefing.com 02:49PM VIX Poised For Biggest Monthly Jump Since July at The Wall Street Journal 02:41PM Who's Afraid of the Flight to Safety? Zacks 02:40PM Sell in May Beats the Stock Market Again at The Wall Street Journal 02:27PM Can Technology Keep the Market from Sinking Further? ETFguide 02:25PM Who's Afraid of the Flight to Safety? Zacks 02:08PM VIX Poised For Biggest Monthly Jump Since July at The Wall Street Journal 01:22PM Stocks Rally on Report of Non-Bailout Bailout for Spain at The Wall Street Journal 01:10PM InPlay:
S&P -0.3 set a new session high just above the flat line, Dow +26 is 140
points off its low -- Nasdaq Comp -7.9 Briefing.com 12:57PM Using Options To Make A 30% Effective Return In
Freeport-McMoRan at
Seeking Alpha 12:51PM Stocks Rally on Report of Non-Bailout Bailout for Spain at The Wall Street Journal 12:42PM Jobs Report Portends Trouble for Stocks, Economy at The Wall Street Journal 12:20PM Index, ETF option volumes near midday optionMONSTER 12:12PM InPlay:
Minor new rebound highs for Dow -31 and as much as 70 points off low, S&P
-7.3, Nasdaq Comp -22 Briefing.com 12:09PM Bill Gross: Treasurys Are 'Clean
Dirty Shirt' at The
Wall Street Journal 12:05PM Index, ETF option volumes near midday optionMONSTER 11:43AM Data Dump Disappointing All Around at The Wall Street Journal 11:41AM Flock to Treasurys Continues; 'Risk
Appetite Is Completely Gone' at The Wall Street Journal
11:29AM Index, ETF option volumes near midday optionMONSTER 11:18AM [video] Trader: ADP Signals Economy Rolling Over at TheStreet 11:18AM Data Dump Disappointing All Around at The Wall Street Journal 11:13AM InPlay:
Nasdaq Comp -33 joins Dow -99 and S&P -13.9 at
minor new session low Briefing.com 10:56AM Gate Sniffage: Facebook,
Google, S&P and the Stealth Tell in the Marketplace! at Minyanville 10:20AM InPlay:
Pressure persists with indices dropping to fresh lows amid broad based losses
-- Dow -67, S&P -11, Nasdaq Comp -32 Briefing.com 09:54AM SocGen: These 5 Things Will Drive The
Global Economy In 2012 And 2013 Business Insider
09:48AM You're Not Stupid To Sell This Rally at Forbes 09:43AM 09:39AM InPlay:
Mixed/weaker bias in early trade for stock indices -- Dow +2.7, S&P -1, Nasdaq Comp -6.8 Briefing.com
09:19AM Bad Signs for the Jobs Market at The Wall Street Journal 09:11AM Bad Signs for the Jobs Market at The Wall Street Journal 09:07AM Morning Links: Bloody May Rocks Stocks at The Wall Street Journal 09:06AM Pre-Market Primer: US Economy Slows Down, Job Creation Loses
Steam at Minyanville
08:45AM SPX, RUT, and Chevron: Is the Next Leg Down on Deck? at Minyanville 08:30AM GDP
RIGHT IN LINE AT +1.9% IN Q1 SECOND READING Business Insider
08:19AM [video] Economic Data Will Drive The Tape at TheStreet 08:19AM Here
Comes GDP... Business
Insider 08:08AM Hedge Fund ETF Weapons Turn Dangerous for Solo Investors Bloomberg 07:24AM ETF Buying Patterns Highlight Safety Trade ETF Trends 06:42AM ETF Buying Patterns Highlight Safety Trade ETF Trends 06:09AM Morning MarketBeat: Summer Blues Loom
at The Wall Street Journal 06:00AM ETF Buying Patterns Highlight Safety Trade ETF Trends 04:47AM Hedge Fund ETF Weapons Turn Dangerous for Solo Investors at Bloomberg
Draghi says euro is ‘unsustainable’ without action
CBS | European
Central Bank President addresses euro crisis and supports forming a European
banking union.
The Federal
Reserve Hegelian Dialectic
Infowars.com | The Fed wants to print more money to “help” the euro-zone
crisis, but it’s going to take some crafty Hegelian dialect to pacify public
opinion.
Money
flies out of Spain, regions pressured
Reuters |
Spendthrift regions and shaky banks put Spain in the firing line of the
euro zone’s debt crisis.
Central
Banker Sees Structure of Euro Zone as ‘Unsustainable’
NY Times | Mario Draghi,
president of the European Central Bank, warned Thursday that the structure of
the euro zone had become “unsustainable”.
Greek
Pensioner Hangs Himself In Protest That “Greece Will
Be Wiped Off The Map”
Zero Hedge | A 61-year
old pensioner was found hanging from a tree on Wednesday.
How
The Super Rich Avoid Taxes Even As They Demand That
The Rest Of Us Pay More
The Economic Collapse | The way that we tax people in the United States is fundamentally
broken and should be completely discarded.
Peter
Schiff: Slash Government Spending Or Die
Business Insider | The
medicine known as austerity might leave you with a bad taste in your mouth, but
the U.S. government needs to take it in order to survive, says Peter Schiff.
AP Business
Highlights
...Yahoo Market
Update…
Infowars.com | Now is the time to put an end to Obama’s
treasonous and tyrannical behavior.
http://albertpeia.com/impeachobama.htm
Nancy Pelosi Wants to Amend the First Amendment Kurt Nimmo
| When Pelosi says “special interests,” she means interests opposed to
establishment Democrats. [ Here’s a look at the pelosi
/ wobama styled new california ( 16 Reasons To
Move Away From California http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm ) . pelosi’s incompetent / senile in that chronological order.
At this point, wobama the b for b***s*** is just
incompetent but acts and seems as if he’s senile, particularly with regard to
previous things he’s said and prior promises that he’s made. ]
Drudgereport: Obama: 'Sometimes I Forget' Magnitude of Recession…{
Oh! How conveniently forgetful, though the vast majority of americans don’t
have wobama’s luxury of feigned amnesia suffering from what wobama did and
didn’t do contrary to promises last time around the perpetual campaign trail
littered with his typical jive-talking b***s***! The following headline will
help him remember some of his sordid, pot-clouded high school past! }...
FLASHBACK: Obama's Sordid High School Past...
By Ben Shapiro ‘While the Washington
Post has been diligently digging into relatively innocent high
school pranks
by Mitt Romney, they’ve spent the last few years diligently ignoring President
Obama’s far more controversial high school days.Obama,
by all accounts, was a habitual drug user in high school. He tried cocaine, he
admits in Dreams From
My Father; he “tried drugs enthusiastically.” The Chicago Tribune reported back in 2007
that Obama thanked the “Choom Gang” in his high school yearbook; “chooming” was Hawaiian slang for smoking pot. The Honolulu Advertiser reported that Obama’s
senior portrait “prominently displayed … A package of ‘Zig-Zag’
rolling papers and a matchbook.” One of Obama’s close friends was arrested for
drug possession during high school.In his memoir,
Obama talked about routinely getting high. “Junkie.
Pothead,” he wrote. “That’s where I’d been headed: the final, fatal role of the
young would-be black man.” But, according to Obama, he only got high because he
was contemplating deep matters: drugs could “push questions of who I was out of
my mind.” Obama told students in 2007 that this activity constituted “goofing
off” and “wasting time”:"I will confess to you
that I was kind of a goof off in high school as my mom reminded me," Obama
said. "I went to high school in Hawaii,
so there's a lot of opportunity to goof off because the weather is really good
all the time …"You know, I made some bad decisions …. You know, got into
drinking and experimenting with drugs. There was a whole stretch of time where
I didn't apply myself. It wasn't until I got out of … high school, and went to
college that I started realizing, man, I wasted a lot of time.”The
New York Times, however, went
out of its way to find Obama’s classmates to testify that drugs played only a “bit
part” in Obama’s youth. Yet Obama would later brag on the campaign trail
that he “inhaled frequently … that was the point.”During
his high school years, Obama hung out with communist radical Frank Marshall
Davis; in 2007, the Los Angeles Times
reported that during his high school days, “he felt the first stirrings of anger
toward whites. He says he also delved into black nationalism.”
He was “offended or even enraged when white classmates adopted black street
slang or revealed their underlying consciousness of his race by going out of
their way to tell him how much they admired a black musician or athlete.” This
activity is certainly more reflective of Obama’s ideological history than Mitt
Romney’s pranks on teachers and fellow students. And as for the drug use –
well, that seems just a bit more serious than walking a teacher into a door or
cutting a student’s hair. But leave it to the Post to ignore or downplay all of that in favor of
continuing stories about Romney’s dog, his high school hijinks,
and whatever other nonsense they can use to protect President Obama from his
own incompetence.’ Ben Shapiro
is Breitbart News Editor-at-Large. Follow him
on twitter @benshapiro.
Cracks
in the Washington Post story on Romney’s ‘pranks’ emerge
Correction
Request: Washington Post Uses Falsehood in Romney Hit Piece
Media
Downplays Obama's Past, Tries to Define Romney with Teen Prank
If we're going to delve deep into a candidate's past, let's delve deep into a
candidate's past. Here's Obama in his own words admitting to physically shoving
a little girl named Coretta. Yes, it was at this moment that the first
shot in the War on Women was fired.http://albertpeia.com/obamashovesgirl.png
No doubt that after expending all that energy
bullying an innocent little girl, young Obama readied himself for round two by
eating a Golden Retriever. More on this breaking story here.If you're wondering what the rules
are regarding a candidate's past; how far back we're allowed to go in an
attempt to define them -- the answer is simple: the corrupt media will let
us know.
Washington Post Disgraces Itself By Targeting Romney's 'Anti-Gay'
High School Pranks by Ben Shapiro { It
is true! The once great now failed newspaper, the washington
post, is an absolute
disgrace! But a shadow of its former self, the post is biased
presumably owing to shared desperation with the failed president wobama in return for access. So egregious had the bias
become wherein ‘sensitive’ commentary antithetical to wobama
and his, seldom seemed to work/post properly; and, then of course, the post’s pro-wobama
perpetual darkness-induced blind ‘constituency’. I stopped posting
there and have not visited their site since nor will I ever again. A
rather pathetic swansong /
end /
wind-down /
final chapter for what was once a great newspaper for which I had the utmost regard and respect! }
Obama WILL NOT pursue gay marriage as
part of party platform...
STONE: 'Playing a cruel and cynical
game'...
Unites Republicans?
New Black Panther Niggers Plan Newspaper
Cover With Zimmerman In Noose { and civilized people everywhere should respond
with niggers in nooses and contributions to the Klu Klux Klan! } ...
LOONEY CLOONEYLAND: BIG CAMPAIGN
BOXOFFICE FOR NIGGERO – Meanwhile, looney clooneyland ain’t doin’ so well with
the niggero model – see next headline! ...
Failed Wobama model illustrated: 16 Reasons To
Move Away From California http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm
Postal Service loses $3.2b in first
quarter...
78% of California 8th graders fail
national science test...
_______________________________________
{ some prior links of current interest }