Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com
http://etfdigest.com/commentary.html RAINY DAYS & MONDAYS FOR MARKETS 6-25-12 ‘There was some good news Monday as
New Home Sales rose much higher than expected (369K vs
350K expected & prior 343K) which should have emboldened bulls but really
didn’t as eurozone news dampened the mood. The
weekend meeting between the four prominent eurozone
leaders ended without anything being accomplished. Italy’s Monti
warned the eurozone has only a few days to survive.
Germans warned Greece
to stop asking for more money. The newly installed Greek finance minister
resigned citing poor health. Spain
has amped-up its bank bailout needs to $125 billion from $80 billion. They want
the money now and without any strings attached. But strings it will be and
they’ll be hardwired per the Bundesbank. Soros also
warned the eurozone has only a few days left to its
existence. Rumors do continue Germans may just quit the euro which would be
quite a shock to the system. Read the Spiegel
interview with Finance Minister Schauble.
Meanwhile, Chinese stocks fell to a 5 month low and BRICs
in general are paying a heavy price.The dollar (UUP)
rallied as did the Japanese Yen (FXY) mostly against the euro (FXE) on safe
haven buying. At the same time gold (GLD) and other precious metals rallied on
safe haven buying. Commodities (DBC) and crude oil (USO) overall were weaker
but grains (JJG) are still on the rise given poor weather conditions. Bonds
(IEF) were stronger given the stock sell-off and more safety plays.Stocks fell sharply across the globe. Wall Street saw
shares of major indexes drop from 1-2% overall. Even with the better housing
data Homebuilders (ITB) fell overall. The largest laggards were financials and
banks (XLF & KBE) as investors worry about eurozone
exposure, hidden and real.Tuesday will bring the
Case-Shiller Home Price Index and Consumer Confidence
data. But all eyes are on the eurozone. And, I don’t
know about you but I’m starting to suffer from eurozone
fatigue. So, whatever they have to do, please get it over with.It
appears the Supreme Court will deal with Obamacare on
Thursday while the eurozone awaits another Friday
date with destiny.Volume Monday was a little on the
light side as investors must be in a “wait and see” mode. Breadth per the WSJ
was negative…’ , Moody's cuts
Spanish banks on sovereign downgrade | NEW YORK (Reuters) -
Moody's Investors Service on Monday downgraded the long-term debt and deposit
ratings for 28 Spanish banks and two issuer ratings, following on the heels of
a cut to Spain's sovereign rating to just above junk status earlier this ...
, Forget the PIIGS,
Europe As a Whole Is Insolvent June 25, 2012 By gpc1981 http://albertpeia.com/europeinsolvent.htm , Too Much
Debt: Our Biggest Economic Problem http://albertpeia.com/toomuchdebt.htm , The Obamacare Outcome Matrix ZeroHedge.com Tyler Durden 6-25-12
, Biderman On The Bernanke Put, Black Swans, And The Failure
Of 'Perceived Truths' The underlying
premise for much of the management of other-people's-money (OPM) is that if the
market drops by an appreciable amount, then Bernanke will step in and save the
day. The problem with these 'perceived truths', as Charles Biderman
of TrimTabs notes, is that they come-and-go; much
like buy-and-hold and China-as-the-engine-of-the-world's-growth. The belief in
the Bernanke Put has been around since the end of 2009 and is why the biggest holders of stocks are today mostly fully invested because
they really believe that the Fed will remain the buyer of last resort. Unfortunately, as Charles points out, 'market truths always end badly'
and in this case what is underlying the belief is that sooner of later the US
economy will grow fast enough to allow the Fed to stop priming the pump with
newly minted money into stocks; and in this case, he fears, "the headwinds are just too big and that rapid growth will not
happen any time soon".
, Guest
Post: Oil Price Differentials: Caught Between The Sands And The Pipelines One of oil's most important characteristics
is its fungibility, which means that a barrel of refined
oil from Texas is equivalent to one from Saudi Arabia or Nigeria or anywhere
else in the world. The global oil machine is built upon this premise – tankers
take oil wherever it is needed, and one country pays almost the same as the
next for this valuable commodity. Well, that's true aside from two factors that
can render this equivalency void. In fact, crude oil prices range a fair bit
according to the quality of the crude and the challenge of moving it from
wellhead to refinery. Those factors are currently wreaking havoc on oil prices
in North America: a range of oil qualities and
a raft of infrastructure issues are creating record price differentials. And
with no solution in sight, we think those differentials are here to stay. , Obama
Issues Statement On SCOTUS Arizona Immigration Law Ruling Just out from the TOTUS,
who manages to convert a Supreme Court slap into a piece of pre-election
propaganda like no other. , Moody's
Downgrades Spanish Banking Sector By 1-4 Notches , Stocks
Slump But Commodities Jump Despite USD Pump
US equities dumped out of the gate from the day-session open - after
drifting lower with Europe all night/morning. Regimes shifted as Europe closed
with Gold and Silver spurting higher (with the latter outperforming to play catch-up from last week) which
led to the start of a correlated risk-on move in stocks (egged on in a
'ignorant' way but Oil strength from its increasing war-premium given the
middle-east turbulence.) The levitation on
low average trade size and low volume was mind-blowingly
algorithmic as ES came to rest for the last hour almost perfectly at VWAP (and EURUSD seemed pegged at 1.25). Just like on Friday though, with a
few minutes to go, ES dropped rapidly on heavy volume and average trade size as
it would appear institutional sell orders plagued the market. The close took us
back into the down-trend channel and back to 10-day lows for stocks. Modest USD strength (and JPY strength on carry-unwinds) left Oil lower from Friday but well off its lows as the rest of the
commodity complex surged. Treasuries
gained back all of Friday's losses ending at Thursday's
low yields with 30Y outperforming. Financials and Energy sectors were worst
with the major financials ending down 5-7% from the pre-downgrade close now.
HYG (and HY) outperformed in the short-term but as we
noted earlier remains a convergence trade than an indication of rotation or
strength. The late-day dump in stocks lifted VIX back over 20% ending up 2.3 vols as implied
correlation lifted back above the 70 'crisis' levels once again. , On
The Verge Of A Historic Inversion In Shadow Banking While everyone's attention was focused on
details surrounding the household sector in the recently released Q1 Flow of
Funds report (ours
included), something much more important happened in the US economy from a
flow perspective, something which, in fact, has not happened since December of
1995, when liabilities in the deposit-free US Shadow Banking system for the first time ever became larger than
liabilities held by traditional financial institutions, or those whose funding
comes primarily from deposits. As a reminder, Zero Hedge has been covering the
topic of Shadow Banking for over
two years, as it is our contention that this massive, and virtually undiscussed component of the US real economy (that which is
never covered by hobby economists' three letter economic theories used to
validate socialism, or even any version of (neo-)Keynesianism as shadow banking
in its proper, virulent form did not exist
until the late 1990s and yet is the same size as total US GDP!), is, on the margin, the most
important one: in fact one that defines,
or at least should, monetary policy more than most imagine, and also explains
why despite trillions in new money having been created out of thin air, the
flow through into the general economy has been negligible. , Guest Post: The
Absurdity Of NATO , The
Full "Three-Days-To-Eurocalypse" Soros Interview , The
Two Scariest Charts In Europe (Got Scarier)
05:28PM Forget the News and Allow Technicals
to Lead the Way - It's Been Working ETFguide 04:25PM STOCKS TANK, EUROPE CRUMBLES: Here's What You Need To Know Business Insider 03:56PM What Savings? Most Americans Don't Have Enough Cash For A
Financial Emergency at
Forbes 03:03PM What Savings? Most Americans Don't Have Enough Cash For A
Financial Emergency at
Forbes 03:02PM What The Mother Of All Central Banks Says About The Financial
System at Forbes 01:37PM European Time Bomb Ticks Louder This Week at Forbes 01:32PM InPlay: Stock indices extend push off
midday lows -- Dow -141, S&P -20, Nasdaq Comp -51
Briefing.com 01:24PM Forget the News and Allow Technicals
to Lead the Way - It's Been Working ETFguide 12:22PM InPlay:
Minor midday stabilization for stock indices -- Dow -152 has lifted 30 points
off its low, S&P -22, Nasdaq Comp -65 Briefing.com 12:00PM Exxon & Chevron Continue to Rise Although Oil Falls at Motley Fool 11:32AM Index, ETF option volumes near midday optionMONSTER 11:20AM Index, ETF option volumes near midday optionMONSTER 11:12AM InPlay:
S&P -21 and Nasdaq Comp -52 set fractional new
lows, Dow -150 did not confirm as it hovers 20 points above its morning trough
Briefing.com 11:09AM NIKE Fourth Quarter Earnings Sneak Peek at Wall St. Cheat Sheet 10:28AM Euro Cup, Euro Crisis at TheStreet 10:05AM Stocks Slammed: Market Frets Over Europe, Obamacare
Decision at Forbes 10:04AM InPlay:
Stock indices lift modestly off lows after housing data but limited follow
through thus far -- Dow -119, S&P -16, Nasdaq
Comp -37 Briefing.com 10:00AM 'Twist' Thy Neighbor as Thyself at Minyanville 09:36AM InPlay:
Stock indices quickly break under last week's lows -- Dow -122, S&P -15, Nasdaq Comp -37 Briefing.com
09:25AM Expect Volatility to Reign This Week at Minyanville 09:22AM Ways to avoid getting stopped out optionMONSTER 09:15AM SPDR S&P 500 ETF and Bank of America Most Active Stocks in
Pre-Market Today on the NYSE at Minyanville 09:11AM SPDR S&P 500 ETF and Bank of America Most Active Stocks in
Pre-Market Today on the NYSE at Minyanville 09:00AM Pre-Market Primer: Futures Fall Ahead of Home Sales Report;
Beer Market Consolidates at
Minyanville
08:56AM Can Europe End Bulls Hopes for Summer Euphoria? at Wall St. Cheat Sheet 08:03AM [video] New Concerns Ahead of EU Summit at TheStreet 07:32AM Could Europe End Bulls Hopes for Summer Euphoria? at Wall St.
Cheat Sheet 07:26AM The Good Leads at The Wall Street Journal
04:12AM Three ETFs To Watch This Week: GERJ,
SPY, EWC ETF Database
“One
Cannot Operate A Capitalist System If The State Can
Borrow At A Negative Cost”
Zero Hedge | Consumption
bubbles fuelled by negative real rates always contain the seeds of their own
destruction.
Herman
Cain: Blame Congress, Not The Federal
Luke Rudkowski | WeAreChange asks Herman Cain about The
Bilderberg meeting and The Federal Reserve System.
EU
should ‘undermine national homogeneity’ says UN migration chief
BBC | Peter
Sutherland told peers the future prosperity of many EU states depended on them
becoming multicultural.
AP Business
Highlights
...Yahoo Market
Update…
Compendium of
Important Business / National / World News / Topics / Articles / Headlines
http://albertpeia.com/articlelinkspage3.htm
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. ]
Wobama’s Choom Gang Bangin’ { This
brief video (11 mb) is well done and worth a
watch! }
http://www.albertpeia.com/wobamaschoomgangbangin.wmv
PAPER:
Obama's grandfather tortured by the British? A fantasy (like most of the
President's own memoir)... { http://albertpeia.com/wobamaschoomgangfantasy.htm }
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 }
