Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com ‘BERNANKE PASSES THE
BATON TO DRAGHI 8-1-12 There was the usual amount of elevated
tension before the Fed announcement but they changed and offered very little to
investors. Instead, they kicked things over to the ECB which will dominate
headlines Thursday. The ECB’s challenge is to match talk with
action. Getting the Germans to go along with Draghi’s bold statements will be the challenge. Once again strong talk must be
matched by actions.Now the “tape” tension shifts to the ECB and we should know more about that
on Thursday midday.ADP data showed new private jobs rising (163K vs 120K expected & prior 176K); PMI Manufacturing fell (51.4 vs 52.5 prior); important ISM Manufacturing showed economic contraction
for the second month in a row (49.8 vs 50.2 expected & prior 49.7); and, Construction Spending increased
less (.4% vs .5% expected & prior .9%).China’s official PMI fell to the lowest
level since November 2011 and for the third consecutive month (50.1 vs 50.2 prior). Most view this as a temporary decline or even attribute it
to seasonal factors. But if you read anything by hedge fund guru Jim
Chanos you might see things in a much different way.Even more interesting Wednesday was the HFT algo mishaps that befell trading particularly at Knight
Capital which struggled with an
avalanche of misplaced orders and high volume. ETFs like the Market Vectors Gold Miners ETF (GDX) and Direxion Shares leveraged Gold Miners ETF (NUGT) saw incredible volume spikes.
The NYSE has a love affair with HFTs providing volume not to mention trade rebates nevertheless insists it
will “look into the matter”. Knight Capital has announced its “trade
cancelation band” at 30%. The NYSE has ruled
only 6 stocks will feature canceled trades.The “flash crash” was 20%. This is the danger of leaving Good til Canceled (GTC) trailing stops and thinking you’re protected. Nevertheless this type of activity is what drives more
investors away from markets. http://albertpeia.com/davescharts8112.jpg http://albertpeia.com/davescharts8113.jpg Stocks reacted to all of this with some
initial selling, some buying and later with a selling shrug as the burden is
now with the ECB. The dollar (UUP) was higher after the Fed announcement; gold
(GLD) remained weaker; oil (USO) was higher on inventory data; commodities
(DBC) were slightly higher helped by energy; bonds (IEF) were slightly weaker.
Volume was rather light with most of it coming after the Fed’s announcement.
Breadth per the WSJ was negative overall. (With the baton handed to the ECB
this puts us with another shorter commentary. I may not write a full report
until Friday after the employment report.)…’
, Angela
Merkel Will NOT Lose Germany’s AAA Status Before Her Re-election Let’s
Stop Kidding Ourselves and Look at the REAL Math Behind Spain http://albertpeia.com/merkelholdsspainfolds.htm , Mainstream
Reporter Tells The Truth About Audit The Fed And The Creation Of The Federal
Reserve http://albertpeia.com/truthaboutauditfedandfedcreation.htm , This
Is What Happens When An HFT Algo Goes Totally Berserk And
Serves Knight Capital With The Bill
ZeroHedge.com Tyler Durden We all know something went
horribly wrong in various NYSE-traded stocks today between 9:30 am and 10:15
am. So wrong in fact that the NYSE had to step in and cancel numerous trades in
6 symbols. However it did not DK millions of other trades in 134
other symbols, the vast majority of which we assume traded errantly due to
the market making of Knight Capital (as admitted by
the company), which today saw its biggest drop ever since going public on
volume about 60 times greater than its average. We also all know that one
should buy low and sell high. At least that is what human traders are taught, and that is what they attempt. Because if one
consistently does the opposite, one will simply run out of money. Well, the opposite is precisely what
the berserk algo in Knight's Market Making group may have done if Nanex, which has done a forensic analysis of one of the trades in question,
is correct. In other words, instead of at least attempting to provide liquidity
via limit trades, Knight's algorithm acted as a market order... gone horribly
wrong. As the third chart below shows what the algo did with furious repetition and steadfast consistency was to buy at the
offer, and sell at the bid, in other words buy high and sell low. Over and over and over and over. As Nanex laconically notes, "In the
case of EXC, that means losing about 15 cents on every pair of trades. Do that
40 times a second, 2400 times a minute, and you now have a system that's very
efficient at burning money." Which
also means that by not DK'ing several hundred million
prints, the NYSE may have just thrown Knight under the bus, because the market
maker is suddenly on the hook for tens if not hundreds of millions in inverse market
making profits.
, David
Rosenberg On Headless Chickens, Topless Americans, And Bottomless Europeans … Europe's bottomless pit of debt deleveraging (which is as much a problem for the
US and China but less ion focus for now) makes the entire discourse of some new
and aggressive intervention by the ECB even more ridiculous (and all so deja vu); and the US is facing up to an entirely topless earnings season as
revenues are coming in at only 1.2% above last year as it appears Q2 EPS is on track for a 0.2% YoY dip - with guidance falling fast. But
apart from all that, Rosie sees the only source of real buying support for the
stock market is the stranded short-seller forced to cover in the face of
CB-jawboning as there is little sign of
long-term believers stepping into the void. , California
Dreaming Turns Into Nightmare As Sinking FaceBerg
Stock Means Less State Revenue
, The
Chinese Juggernaut Losing Steam?
, Hyper
Mario And Germany On Verge Of All Out Warfare Back in March we wrote "Mario
Draghi Is Becoming Germany's Most Hated Man"
for one reason: a few months after the former Goldman appartchik was sworn in to replace Trichet with promises he would not "print" Draghi did just that in a covert way via $1.3 trillion in LTROs, that immediately hit the economy and sent inflation across Europe
soaring. It now appears that the simmering hatred between the two is about to upshift to a whole new level, with the threat of open escalation finally
arriving. Because if Sueddeutsche Zeitung is correct, via Reuters, in precisely 12 hours, Draghi will proceed with a plan that has neither Germany's nor Buba's blessing, in the process effectively isolating the only remaining
solvent country in Europe, and its de facto paymaster, and forcing Germany to
take a long, hard look at the exit sign (which, however, as reported earlier,
with each passing day that drags Germany's economy is becoming less of an
unthinkable outcome). To wit: "Draghi is planning concerted action using both the ECB and the future euro
European Stability Mechanism (ESM) to purchase sovereign debt from Spain or Italy in order to help push down
borrowing rates for those two countries." There is one problem: "highly doubtful that the German government would agree to Draghi's
approach. The Bundesbank also is likely to reject the idea, the paper added." , Guest
Post: When Quantitative Easing Finally Fails While markets await details on the next
round of quantitative easing (QE) -- whether refreshed bond buying from the Fed
or sovereign debt buying from the European Central Bank (ECB) -- it's important
to ask, What can we expect from further
heroic attempts to reflate the OECD economies? The 2009 and 2010 QE programs from the Fed, and the 2011 operations from the
ECB, were intended as shock treatment to hopefully set
economies on a more typical, post-recession, recovery pathway. Here in 2012, QE
was supposed to be well behind us. Instead, parts of Southern Europe are in
outright depression, the United Kingdom
is in double-dip recession, and the US is sweltering through its
weakest “recovery” since the Great Depression. QE is a poor transmission
mechanism for creating jobs. It wasn’t
supposed to be this way. Macquarie
Sees $176 Billion In Lieborgate Losses, $88 Billion Hit
To Libor Panel Banks …the simply stunning number of $176 billion. If true: prepare for the banks' Tobacco moment as well over half of
the market cap of global financial institutions who just so happens have
exactly $0.00 in litigation reserves for just this contingency, is
slashed. , Citi Sounds A Warning: "The Misread Of The Fed
May Also Worry Investors That They Have Misread Draghi"
No
Functional Miracle Weapons To Fight The Debt Crisis Posted by : testosteronepit Post
date: 08/01/2012 Or any other weapons. A panacea,
yes, but it doesn’t work.
Stunning
Crimes of the Big Banks: Worse than Your Wildest Imagination Posted by: George Washington Post date: 08/01/2012 You Wont Believe What They’ve Done …
Obamanomics: Grab Some Pizza, Grow the Economy Posted by:
CrownThomas Post date: 08/01/2012 If you buy a
slice of pizza, and build a road, the economy grows.
http://endoftheamericandream.com
http://albertpeia.com/theywanttochipyou.htm
01-Aug-12
07:01PM Draghi Pledge May Boost Investment in Europe Stocks
at Bloomberg 07:01PM BofA: This Is What Needs To Happen For The Fed To
Announce QE3 Business Insider
06:08PM Tesoro Corp Earnings: Beats the Street on Profit Rise at
Wall St. Cheat Sheet 06:01PM Williams Companies Inc Earnings: Misses Expectations at
Wall St. Cheat Sheet 05:35PM Hartford Financial Services Group Earnings: Investors Like
These Numbers at Wall St. Cheat Sheet
05:31PM Prudential Financial Earnings: Exceeds Forecasts with Boost of
Profit Rise at Wall St. Cheat Sheet
05:20PM Murphy Oil Corp Earnings: Net Income Sinks at
Wall St. Cheat Sheet 05:16PM Unum Group Earnings: Net Income FALLS at
Wall St. Cheat Sheet 04:59PM MetLife Earnings: Heres Why Investors are Not Very
Impressed at Wall St. Cheat Sheet
04:53PM Davita Earnings: Streak of Three Straight Profit
Rises Snapped at Wall St. Cheat Sheet
04:49PM Lincoln National Corp Earnings: Second Consecutive Quarter
Beating Wall Streets Expectations at Wall St. Cheat Sheet
04:45PM First Solar Earnings: Shareholders LOVE These Numbers at
Wall St. Cheat Sheet 04:40PM Wall of Worry Update: Algos
Gone Wild! at Minyanville
04:33PM STOCKS FALL AFTER THE FED DOES NOTHING: Here's What You Need To
Know Business Insider
03:55PM Of Apple and the Dow at Minyanville
03:38PM InPlay: Indices pushing back near post-Fed bounce
highs -- Dow -1, S&P +0.04, Nasdaq Comp -7 Briefing.com
02:40PM Fed Takes No Action, But Bernanke Has His Finger On The Trigger
at Forbes 02:29PM Central Bankers: Glass Is Half Empty, But No Policy Change Just
Yet at Barrons.com
02:09PM Pitney Bowes Quarterly Earnings Sneak Peek at
Wall St. Cheat Sheet 02:08PM InPlay:
Nasdaq 100/Comp and small-/mid-cap indices set minor
new lows -- Dow +18, S&P +1 chopping at slightly higher levels Briefing.com
02:01PM CBS Earnings Sneak Peek at Wall St. Cheat Sheet
01:45PM AIG Quarterly Earnings APPROACH at
Wall St. Cheat Sheet 01:40PM Kraft Foods Quarterly Earnings Sneak Peek at
Wall St. Cheat Sheet 01:40PM A Rising Economic Tide Lifts (Almost) All Boats The
Exchange 01:36PM Is Your Financial Advisor Independent, An RIA Or Wirehouse Rep? You Have No Idea But You Should at
Forbes 01:23PM S&P 500 edges down from highs of the day as pattern
develops, levels to watch theflyonthewall.com
12:52PM Kellogg Earnings SNEAK PEEK at Wall St. Cheat Sheet
12:45PM Directv Quarterly Earnings Sneak Peek at
Wall St. Cheat Sheet 12:36PM Apache Second Quarter Earnings Sneak Peek at
Wall St. Cheat Sheet 12:13PM Tyson Foods Third Quarter Earnings Sneak Peek at
Wall St. Cheat Sheet 12:10PM Health Care REIT Second Quarter Earnings Sneak Peek at
Wall St. Cheat Sheet 11:59AM How 3 Numbers Moved The Markets at
Forbes 11:51AM Cognizant Technology Second Quarter Earnings Sneak Peek at
Wall St. Cheat Sheet 11:50AM Unum Group Quarterly Earnings Sneak Peek at
Wall St. Cheat Sheet 11:36AM Chesapeake Energy Second Quarter Earnings Sneak Peek at
Wall St. Cheat Sheet 11:28AM So You Want To Trade Volatility: Understanding Backwardation
at Seeking Alpha 11:23AM InPlay:
Whippy trade continues with Nasdaq Comp -3.5 recently slipping
to minor new session low Briefing.com
11:23AM Index, ETF option volumes near midday optionMONSTER
11:23AM AES Second Quarter Earnings Sneak Peek at
Wall St. Cheat Sheet 10:41AM [video] NYSE Investigating Strange Stock Buying at
TheStreet
10:32AM InPlay: Stock indices extend slide off early highs --
Dow +19, S&P +0.3, Nasdaq Comp +1.2 Briefing.com
10:07AM Allergan Earnings: Profit and Revenue Rises, Yet
Short of Estimates at Wall St. Cheat Sheet
09:42AM Exelon Corp Earnings: Net Income Falls Again at
Wall St. Cheat Sheet 09:36AM InPlay:
Solid, broad based push higher off the open quickly losing steam -- Dow +51,
S&P +3.5, Nasdaq Comp +10 Briefing.com
09:35AM IntercontinentalExchange Earnings: MAJOR Profit
Growth for 5th Straight Quarter at Wall St. Cheat Sheet
09:35AM Time Warner Earnings Go SPLAT! at
Wall St. Cheat Sheet 09:32AM Comcast Earnings: Profit RISES for Third Straight Quarter at
Wall St. Cheat Sheet 09:31AM American Tower Earnings: Net Income SHRINKS 58% at
Wall St. Cheat Sheet 09:31AM Avon Earnings Continue Losing Streak at
Wall St. Cheat Sheet 09:26AM Frontier Communications Earnings Fall SHORT at
Wall St. Cheat Sheet 09:24AM Marathon Oil Earnings: Consecutive Profit Quarter Streak Stays
Intact at Wall St. Cheat Sheet
09:21AM SPDR Barclays Capital 1-3 Month T-Bill and Nokia Among Most
Active Stocks in Pre-Market Today on the NYSE at
Minyanville
09:05AM Automatic Data Processing Earnings: Profit Rises, Revenue Off
Target at Wall St. Cheat Sheet
08:57AM Devon Energy Corp. Earnings: Revenue and Profit Decline at
Wall St. Cheat Sheet 08:56AM ECB Has Reasons to Ease; Fed Has None at
TheStreet
08:55AM Pre-Market Primer: Job Creation Picks Up, Fed Statement on Its
Way at Minyanville
08:53AM R.R. Donnelley & Sons Company Earnings: Exceeds Forecasts
with Boost of Profit Rise at Wall St. Cheat Sheet
08:52AM Time Warner Earnings: Revenue Falls After Four Straight
Quarters of Rising, Net Income Declines at Wall St. Cheat Sheet
08:08AM Automatic Data Processing Earnings: Profit Increases Again at
Wall St. Cheat Sheet 08:06AM IntercontinentalExchange Earnings: Profit Rises by
Double-Figures for Fifth Consecutive Quarter at
Wall St. Cheat Sheet 08:05AM Comcast Corp Earnings: Profit Rises for Third Straight Quarter
at Wall St. Cheat Sheet 08:03AM Wisconsin Energy Corp Earnings: Beats Forecasts at
Wall St. Cheat Sheet 08:02AM American Tower Earnings: Four Straight Quarters of Shrinking
Margins Broken, but Profit Drops at Wall St. Cheat Sheet
08:02AM Avon Products Earnings: Three Straight Quarters of Shrinking
Margins Broken, Net Income Falls at Wall St. Cheat Sheet
07:53AM [video] Markets Wait for Fed Release at
TheStreet
07:53AM [video] Markets Wait for 2:15 Fed Release at
TheStreet
07:38AM Barry Ritholtz: 'After The Fed Liquidity
Fountain This Is The Most Bullish Thing' Business Insider
07:31AM An Unintended Consequence Of The Crisis: A Free Market In
Interest Rates Emerges In Parts Of The Euro Area at
Seeking Alpha 07:19AM 10 Things You Need To Know Before The Opening Bell Business
Insider 07:03AM Devon Energy Earnings Approaching at
Wall St. Cheat Sheet 07:00AM Coach Worth Close Look After Revenue Miss at
TheStreet
06:53AM Frontier Communications Earnings: Solid Revenue Performance
at Wall St. Cheat Sheet
Just
Open Up Your Eyes And Look – 65 Signs That The Economic Collapse Is
Already Happening
The Economic Collapse | Do you
want to know when the “economic collapse” is going to happen? Just open up your
eyes and take a look.
Whistleblower
Reveals Federal Reserve Staff Advised Bernanke NOT To Bailout AIG
Daily Bail | Evidence
of substantial conflict within the Fed over the decision to bailout AIG.
Postal
Service to Miss $5.5 Billion Payment to Treasury
Bloomberg | Rep. Issa: “The default by the Postal Service on its obligation
to its own employees and retirees follows decades of mismanagement…”
Chaos
Strikes The Market, People Suspect An Algo
Gone Wild, Knight Capital Plummets 24%
Business Insider | Very
weird activity has happened at the NYSE today.
Shutup Money: HSBC Pays Off Their Criminal Activity
Prison Planet.com | HSBC
says sorry and everything is OK again.
Federal Deficit
Highest Since 1940s
U.S. News & World Report | The federal deficit is higher than it has been since the
1940s.
Startup
dumps Facebook: ’80% of ad clicks came from bots’
RT | New York-based online music startup
Limited Run has ditched Facebook after its research
revealed an alleged advertising scam.
AP Business
Highlights
...Yahoo Market
Update…
Compendium of Important Business / National / World News / Topics /
Articles / Headlines
http://albertpeia.com/articlelinkspage3.htm
http://albertpeia.com/archives.htm
FBI Nazi
Bikers Bust FBI Nazi Bikers - What's Up At The FBI/DOJ?
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 }