Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com
http://etfdigest.com/commentary.html
GERMANY YIELDS TO PRESSURE 6-29-12
‘They worked Angela Merkel over until 4:30 AM whereupon she finally
agreed to bailout Italy, Spain and whoever else shows up for a piece of the
pie. Repayment rules were eased for Spanish banks and possible aid for Italy
was included in a $149 billion bailout plan as outlined.
There were grandiose statements, promises and more importantly, details to be
worked out. The latter will wait since bullish algos
only move on headlines and not pesky details. “We affirm our strong commitment
to do what is necessary to ensure the financial stability for the euro area, in
particular by using the existing EFSF/ESM instruments in a flexible and
efficient manner in order to stabilize markets,” was the official statement.
The EU also made sure new funds received would not be senior to existing debt
relieving bondholder’s anxiety.The UBS’s Paul Donavan
outlines the questions and a comment: “Going into this summit we had a monetary
union in Europe that clearly did not work. Coming out of this summit we have a
monetary union that still does not work.”
1.Will the bank supervisor have real powers?
2.What will be the conditions for direct bank
recapitalization?
3.What about those countries that have already
bailed out banks with euro area assistance?
4.Who guarantees deposits?
Again,
“good intentions do not in fact change anything regarding the solvency of banks
today.” Lastly, and not to be ignored, Finance Minister Schauble
states the ESM “must have a fiscal pact in place” and there’s the rub. A fiscal
pact would require a central authority over budgets and Germany would be in the lead there.
No matter the reflex rally especially at quarter end, this is still a work in
progress and perhaps just another “kick the can” effort. Will there be any
systemic changes or austerity? I doubt it and we’ll be revisiting all this
again soon enough. Stocks globally rallied sharply and the question is how long
this will last? The quarter end newsless rally during
the same period in 2011 lasted one week before drifting into volatile bearish
conditions. Meanwhile back at Wall & Broad, stocks rallied sharply on the
euro news. Euro currency shorts (FXE) which had increased by 13% last week,
were thoroughly squeezed. Euro stocks (IEV) rallied sharply as did anything
with a ticker except inverse issues and bonds. Commodities (DBC), oil (USO),
gold (GLD) and copper (JJC) rallied since they liked the weak dollar (UUP).
Frankly, when push comes to shove, politicians will choose inflation vs deflation every time. Consumer Sentiment fell (73.2 vs 74.1 prior) and Chicago
PMI fell (52.9 vs 53 expected). But let’s not let
crummy data get in the way of the party. Volume was relatively low until the
last few minutes when someone decided to punctuate the rally. Breadth per the
WSJ was quite positive…’
Europe Will See Deep
Depression, Schoenberger Says , The EU
Summit: Europe Needs Capital NOT Political Posturing June 29, 2012 By gpc1981 http://albertpeia.com/noeugamechangers.htm
,
I,
Not Robot: Why The Rise Of SkyNet Leads To Automatic Unemployment For The
People ZeroHedge.com Tyler Durden 6-29-12
, Guest
Post: The Supreme Court And Natural Law
A few weeks ago I wagered with a
coworker that the United States
Supreme Court would uphold the Affordable Care Act otherwise known as Obamacare. He reasoned that the federal government
has no authority under the Constitution to force an individual to purchase a
product from a private company. My reasoning was much simpler.
Because the Supreme Court is a functioning arm of the state, it will do nothing
to stunt Leviathan’s growth. The fact that the Court declared no
federal law unconstitutional from 1937 to 1995—from the tail end of the New
Deal through Lyndon Johnson’s Great Society—should have been proof
enough. He naively believed in the impartialness of politically-appointed
judges. For the first time he saw that those nine individuals are nothing
more than politicians with an allegiance to state supremacy. , Brian
Sack's Window Dressing Farewell Gift To Wall Street Stocks
opened around 2% gap higher this morning after the late-night headlines from Europe made many think that the tooth-fairy and Santa are
real once again. S&P 500 e-mini futures saw some selling into the open but
then stabilized amid a very narrow range for much of the rest of the day -
leaking higher on low volume-driven short-covering. The news from Germany
of ESM ratification was greeted with absolutely no price movement as an
indication of just how insane things are but the need to drive stocks up in the
last few minutes was crazy. Into the
close, volume exploded as ES rose 10pts in minutes from absolutely nowhere.
Average trade size was very heavy during this period and delta skewed notably
to block selling into the ramp though it is never that obvious.
ES closed above its 50DMA back to its highest since 5/8. Everyone enjoyed the
day's window-dressing escapades aside from JPM which dropped 3% from its
opening levels and closed in the red. The
main takeaway is that most risk assets recovered to last week's highs but
stocks turned the amplifier of insanity to 11 and pushed back to near two-month
highs not to be outdone into quarter-end (wink wink). , Guest
Post: The Face of “Don’t Ask Questions Of The Government” Journalism
is about asking questions that corporations, governments and establishments
don’t want to answer. It’s about reporting the full-story, no matter how many
toes you step on. It’s about opening up power to real scrutiny. And that is
something that the propagandists in big media are often incapable of — which of
course is why big media is slowly dying. We need to know the depth and width of
Fast and Furious and the programs which preceded it: how was it authorised, how was it designed, how did it go wrong, who
was to blame for it going wrong. We need to know whether or not the widely-spread
allegation that the Obama administration has sold guns directly to Los
Zetas is true. We need to know whether or not El Chapo
and the Sinaloa Cartel are working with the DEA and the Mexican government. (Both
of these allegations are widely accepted as fact in Mexico). We need to
know why Obama has chosen to continue the failed drug war, even in spite of
overwhelming evidence that the illegality of drugs is the very thing that empowers the criminal cartels, and in spite
of the fact that Obama is a former drug user. , DOJ
Says It Won't Prosecute DOJ Head Holder
How should we say this: we are
shocked, shocked,
that the DOJ won't prosecute itself. BREAKING:
DOJ says it won't prosecute Attorney General Holder after the GOP-led House
voted to hold him in criminal contempt of Congress – Fox see also, http://www.albertpeia.com/112208opocoan/ricosummarytoFBIunderpenaltyofperjury.pdf
http://www.albertpeia.com/112208opocoan/PeiavCoanetals.htm http://albertpeia.com/fbimartinezcongallard.htm , Barclays
On The Rally: "Fade It", Because The Summit Is "Not A
Game-Changer For The EUR" With
everyone scrambling to buy into the bathsalts rally,
and shorts rushing to cover with a panic bordering on a QE-announcement, it is
somewhat ironic that today's voice of muted reason comes from none other than Liebor expert extraordinaire: Barclays, whose suggestion is simple: lock your profits: "We remain
bearish on EURUSD, expecting it to grind slowly down to 1.15 over the next 12
months. We therefore suggest investors look to fade this morning's European
currency strength versus the USD and non European commodity currencies such as
the AUD and CAD." Why? They have their listed reasons. The unlisted ones
are the same that every other bank has for becoming bearish recently (we have
recently listed Citi, Goldman,
SocGen and DB to
name but a few): for a real fiscal and monetary policy intervention to take
place (i.e., a rescue package that lasts at least a few months, as opposed to
today's several day max rally): the
market has to be tumbling. That, as we have explained
repeatedly, is the only way to get a powerful response. Everything else is
(quarter end) window dressing. , Europe's Unanswered
Questions The EU summit to save the Euro (the nineteenth, or thereabouts) has,
quite remarkably, agreed to do something to try and save the Euro. As UBS' Paul Donavan notes
"As ever with a Euro summit there are unanswered questions. Grandiose statements are what heads of government specialise in – the details are left to later" -
it is one of the reasons why Maastricht
produced a monetary union that was flawed from the outset. Once “create a single currency” had been agreed,
politicians lost interest. The statement from the summit itself was woefully inadequate,
but below UBS lays out what additional questions need to be answered. Always
keep in mind though, "Going into this
summit we had a monetary union in Europe that
clearly did not work. Coming out of this summit we have a monetary union that
still does not work." , Bruno
Iksil's Guide To Surviving The Status Quo: Baffle
Them With Bullshit , The Dummy's
Guide To Healthcare Initially presenting the potential problems
of our current healthcare environment, the creator of 'the bears that explained
Quantitative Easing' provides much food for thought on the unintended
consequences of Obamacare (in all its 2700 page
glory). For everything you need to know about how it devolved to this ("To understand healthcare in America, you have to think about
bananas") and how to think about the new tax's potential
implications (e.g. lower quality of service, capped hiring rates among
employers), seven minutes well spent.
, Iran
Oil Embargo Goes Into Effect: Crude Up 8% , Guest
Post: It's Time To Connect The Dots
This week may very well go down
as 'connect the dots' week. Things have been moving so quickly, so let's step
back briefly and review the big picture from the week's events. When you
connect the dots, the next steps lead to what may soon be regarded as an
obvious conclusion: the system, as
it exists right now, is crumbling. No amount of self-delusion can make this go away.
Rational thinking and measured action, on the other hand, can make the
consequences go away... turning people from victims into spectators of the
greatest bubble burst in modern times. , And The
Reason For Today's Bathsalts Rally Is... ...
Nothing more (or less) than NYSE short interest as of June 15 (at 14.7 billion
shares) soaring to the highest since October 2011, just before the mega ramp on
the previously
mentioned October 26, 2011 Greek "Bailout" started on another
total non-event as history would show (as would be the ensuing global central
bank interventions, and LTROs 1+2). This is also tied for the 3rd highest short
interest since July of 2009. Which brings us to the following question: we know
that over the past month the only stock "market" catalysts have been
small groups of "educated" central-planners: the Fed, SCOTUS, and Eurocrats,
with the only upside catalyst being taxpayer cash. Does the chart below mean
that the only technical item
that matters is Short Interest (as well as short interest in the highly levered
and beta-rally inducing EUR), and every time this number rises above a given
threshold the various Wall Street repo desks will merely engage in forced
buy-ins and cause epic short squeeze like the one today? We don't know.
However, we do know that with both long-side and short-side trading becoming
meaningless and everything now just an HFT-facilitated stop hunt, this is the
surest way to make sure nobody is left trading these markets anymore, something
which relentless ongoing cash outflows from equity funds confirm every single
week. The good news: once the weak hands have covered, a new wave of shorts can
reenter, only to be burned as well on the next overhyped non-event out of Europe or anywhere else.
29-Jun-12
05:20PM [video] Risk Appetite to Be Tested Next Week at TheStreet 05:18PM Eurpoe Rescues Markets Just in Time
Again at Forbes 05:17PM Weekend Update: 1363 Holds the Rally Key at Minyanville 04:39PM June 29, 2012 Market Summary at Investopedia 04:31PM MARKETS EXPLODE HIGHER ALL AROUND THE WORLD: Here's What You
Need To Know Business
Insider 03:49PM InPlay:
Minor backtracking over last half hour with Dow +221 slipping 28 points off its
high -- S&P +27, Nasdaq Comp +73 Briefing.com 02:33PM Buzz on the Streeet: Obamacare Lives! Maybe the EU Will, Too. at Minyanville 01:22PM InPlay:
S&P +17 and Dow +230 join Nasdaq Comp +73 at
minor new highs Briefing.com 01:05PM Three Overlooked and Overachieving Utilities at Minyanville 12:25PM The Blessing Of Low Expectations: Latest Euro Pact Sets Off
Rally at Forbes 12:15PM Guide to the 25 Most Liquid ETFs Zacks 12:15PM ALPS Debuts 'Dividend Dogs' ETF ETFguide 12:07PM Guide to the 25 Most Liquid ETFs Zacks 12:06PM ALPS Debuts 'Dividend Dogs' ETF ETFguide 11:59AM Guide to the 25 Most Liquid ETFs Zacks 11:56AM Get Ready For the Next Bull Market at Forbes 11:48AM The Blessing Of Low Expectations: Latest Euro Pact Sets Off
Rally at Forbes 11:42AM Index, ETF option volumes near midday optionMONSTER 11:42AM 11:31AM InPlay:
Nasdaq Comp +68 climbs to new session high, Dow +218
and S&P +25 have not yet confirmed the move Briefing.com 11:31AM Index, ETF option volumes near midday optionMONSTER 11:21AM Index, ETF option volumes near midday optionMONSTER 10:21AM Wall Street's Friday Lunch Options Optionetics 10:01AM InPlay:
Dow +200 and S&P +22 set fresh highs, Nasdaq Comp
+52 hovering 5 points under its peak Briefing.com
09:46AM InPlay: Stock indices pause after aggressive gap higher
start, mildly positive reaction to data -- Dow +191, S&P +21, Nasdaq Comp +50 Briefing.com
09:40AM Elster Group SE and SPDR S&P 500
ETF Most Active Stocks in Pre-Market Today on the NYSE at Minyanville 09:40AM Elster Group SE and SPDR S&P 500
ETF Most Active Stocks in Pre-Market Today on the NYSE at Minyanville 09:35AM SPX and INDU Updates: Europe Adds a Wave to the Outlook at Minyanville 09:30AM Elster Group SE and SPDR S&P 500
ETF Most Active Stocks in Pre-Market Today on the NYSE at Minyanville 09:15AM Pre-Market Primer: Surprise Europe Deal Lifts Stocks and
Commodities at Minyanville
08:41AM Bearish Sentiment Claws Its Way Above 40% at Forbes 08:00AM [video] Traders Expects Market to Crack at TheStreet
EU
Debt Deal Only Making Problem Worse – Jim Rogers
Jun 29th, 2012 11:45 by News
June
29 – CNBC – VIDEO
Link
JK
Comment: Rogers
makes a pretty simple recommendation here: “Buy hard assets”. A must watch take
on today’s news out of Europe and subsequent
move in, well, everything.
Share
Europe’s
next big challenge
Jun 29th, 2012 11:04 by News
by Mohamed El-Erian
Once again, after a painful learning process and motivated by the best of
intentions, European leaders gather in crisis management mode. Important
decisions are taken but, again, they appear to fall short of the dramatic
breakthrough required to get ahead of a crisis that eats away at the integrity
of the region’s historic integration project.
…Without additional measures, it seems inevitable it
will only be a matter of time until European leaders gather again for a crisis
management meeting; and they will find the challenges even more onerous.
[source]
PG
View: The
massive ECB LTROs bought a couple weeks of relief for
beleaguered European markets, the initial announcement of the €100 bln Spanish bank bailout garnered support for a single
trading day, so focusing the might of the EFSF/ESM bailout facility on the
problem should be good for what? A month? Less?
Share
Operation Twist: New York Fed purchases $4.668
billion in Treasury coupons.
Jun 29th, 2012 09:22 by News
Share
University of Michigan sentiment (final) revised down
to 73.2 in Jun, below expectations, vs 74.1
preliminary print.
Jun 29th, 2012 08:45 by News
Share
Chicago ISM rose to 52.9 in Jun, below expectations
of 53.0, vs 52.7 in May.
Jun 29th, 2012 08:44 by News
Share
Canada GDP +0.3% in Apr, on
expectations of +0.2%, vs +0.1% in Mar.
Jun 29th, 2012 06:38 by News
Share
US personal income +0.2% in May,
in-line with expectations, vs +0.2% in Apr; PCE unch.
Jun 29th, 2012 06:35 by News
Share
Gold sharply higher at 1585.90 (+32.90). Silver
27.41 (+1.06). Dollar falls. Euro surges. Stocks called higher. Treasurys mostly lower.
Is It Time to
Start Locking Up Bankers?
Daniel Knowles | Still,
no banker has been imprisoned for this colossal abuse of the financial system.
Computers
on Wall Street are Buying and Selling to Themselves
Liberty Blitzkrieg | No need
to fear, the SEC is on the case! { Churnin’ and
earnin’ http://albertpeia.com/churninandearnin.htm }
17
Reasons To Be EXTREMELY Concerned About The Second
Half Of 2012
The Economic Collapse | What is the second half of 2012 going to bring?
Iran
Oil Embargo Goes Into Effect: Crude Up 8%
Zero Hedge |
Following a 3-sigma fall yesterday, WTI crude has rebounded exuberantly amid
the European ecstacy and the Iran Oil Embargo.
JP Morgan’s 9
Billion Trading Loss
PrisonPlanet.com | JP
Morgan created this fraud on purpose.
Big
Banks Have Become Mafia-Style Criminal Enterprises
The Economic Collapse | Banks Conspire
to Fleece the Public.
http://albertpeia.com/bigbanksmafia.htm
{ Wall street,
the entire u.s. financial sector, and now the entire
global finacial sector foolishly following suit, are
totally, unequivocally, and fatally fraudulent! It’s really a rather pathetic
picture for this world! }
More
Banks — 11 in Brazil — Face Credit Downgrades
The New American | Moody’s
downgraded the credit ratings of 11 Brazilian banks on June 27 — some a single
level, and some three levels.
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 }
