Business Summary Links By Day
Dave’s Daily: http://www.etfdigest.com
PROTECT YOURSELF AT ALL TIMES
8-30-12 { Carbon-based unit indeed, Dave. Brings to mind that great first
installment of what was to breathe life into that ultimately hugely successful
franchise, ‘Star Trek’; viz., the profound ‘Star Trek: The Movie’, directed by no less than Robert Wise (‘The Day the
Earth Stood Still’) himself. }
There’s enough ideas about what to do now as Bernanke steps
to the plate Friday to either regurgitate familiar messages, provide more QE,
conduct more coordinated QE with other central banks or something not imagined
by this carbon based investor. And as luck would have it, the day before this
announcement the S&P 500 tested its 1400 level of support. I think the HAL
9000s must be on autopilot for that one. September and October are fraught with
perils including eurozone drama, the Fed to U.S. elections. What’s an
investor to do? For our part we’ve moved heavily to the sidelines given weekly DeMark
9 setups of two weeks ago. From those generally in my experience we can just
move sideways or correct nearly 70% of the time—a pretty good batting average. Failing that a rising
trend most likely occasioned by more money printing would steamroll the indicator
and most others. Let’s just call it the “more money than brains” effect. But since you may not have our preferred
tool at this time, what are other things you might do to protect yourself.
After all, sleeping at night free from worry is important to most investors.
Never mind that greed and fear can haunt you. You could tighten your stops if
you’re long. In
this environment with machines running Wall Street these could be blown apart
on any major gap down. Sure, you could use “limit” orders and that might prevent a poor initial result
but if markets continued to drop precipitously you’re still
out of luck. You could buy some put options on the S&P but that might not
be your thing. And, if you did, which should you choose? As a former options
principal my style would be to buy an “in the money” put option with a duration beyond shortly beyond the
November election. If you’re wrong and markets rally you can close your
position and write-off the loss as the cost of the insurance premium. There are
more sophisticated option related strategies but they’re quite
complex for most investors. You could buy an inverse equity ETF like ProShares’ Short
S&P 500 ETF (SH) to hedge and perhaps just hold for a month or so given
potential tracking inefficiencies. If you’re bullish, you could put a buy stop limit order
beneath the current market, and if it falls sharply you’ll get a
cheaper price—lucky you! Moving to the sidelines is the least
costly unless you’re consumed by the fear of missing out on a big
rally. This is more common than most imagine since bulls like to tell you with
certainty that you’ll miss the first move which is always the biggest.
But I’ve always
reminded investors of one caveat; you’ll miss the first move but in which direction? Since
we’re always
willing to short if we have a signal to do being ready to go long or short from
cash is equally as important. So where does this all leave us? Probably just as
confused and frustrated as you. Meanwhile, back at the ranch Wall &
Broad markets sold-off as rumors persisted there won’t be QE3
because conditions are just too good. Seriously.
Jobless Claims missed (374K vs 370 expected & prior revised higher to 374K0
allowing headline writers to call things unchanged. Personal Income was
unremarkable (.3% vs .3% expected & prior .3%) and Consumer Spending rose (.4% vs. .4% expected & prior .0%) meaning
more spending than income. The Fed’s favorite view is PCE (1.3% vs 1.5% prior & “core” 1.6% vs
1.8% prior) which suggested higher prices are contained. Mrs. Bernanke doesn’t shop and “the beard” has a limo
so no worries. In the eurozone confidence dropped to 86.1, the lowest since…wait for
it, August 2009. China stocks dropped for the 4th straight month.
Separately, copper demand from China was the lowest in 15 years—that’s quite “a tell” of declining economic activity. This is an
abbreviated post targeting just a few markets since everything is Bernanke
dependent now. Volume on selling naturally rose to the highest level this week
but was still low historically. Breadth per the WSJ was negative…’ , Clint Eastwood to speak at the Republican National Convention:
reports { Indeed he did! All is
not unforgiven. That’s a double-negative, Clint, meaning all’s forgiven
( I just wanted to interject his oscar-winning ‘Unforgiven’ for the
record, along with ‘Million Dollar Baby’) for your
pro-gay marriage, don’t give a f*** egalitarian position (I actually
thought in light thereof he was a ‘wobama man’)... 82 and
still truckin’ in a big way…what a guy…I’m impressed…he made our
day! ( There are some detractors, talkin’ this and
that about his speech; but, the point is that Clint’s doing it,
not just talkin’ about it! ) Well Done, Clint! I’m also adding here for the record the
fact that Robert Duvall did a fundraiser for President Romney with First Lady
Ann Romney; and, had an underrated, underappreciated superb (less than big
budget) film of his own, ‘Assassination Tango’, which in
light of nuanced performance and attention to detail deserved greater attention
and acclaim ( any guy whose been offered a free poke from Diane Lane [‘Lonesome
Dove’] and loves the smell of napalm in the morning [the
great ‘Apocalypse Now’] is more
than okay in my book). And, Jon Voight: The Advocate … Who woulda
thunk it? Cogent and relevant! } , Tokyo
court rules that Samsung did not infringe on Apple patent AP { This
is a very big deal! } , More
Bad News Imminent: August US Auto Production Set To Plunge By Most In 16 Months , What
Americans Actually Do All Day Long - In Three Charts ZeroHedge.com The average American spends 9 hours, 12 minutes, and 36 seconds
'Working & Commuting' on an average workday. Wonder what they do with the
rest of their precious 'unproductive and non-tax-providing' day? http://albertpeia.com/whattheydo.png , Guest
Post: Paul Krugman’s
Mis-Characterization Of The Gold Standard
With a price hovering around $1,600 an ounce and the prospect of
"additional monetary accommodation" hinted to in the latest meeting
of the FOMC, gold is once again becoming a hot topic of discussion. Krugman,
praising 'The
Atlantic's recent blustering anti-Gold-standard riff, points to gold's
volatility, its relationship with interest rates (and general levels of asset
prices - which
we discussed here), and the number of 'financial panics' that occurred
during gold-standards. These
criticisms, while containing empirical data, are grossly deceptive.
The information provided doesn’t support Krugman’s assertions whatsoever. Instead of utilizing
sound economic theory as an interpreter of the data, Krugman and his Keynesian
colleagues use it to prove their claims. Their methodological positivism
has lead them to fallacious conclusions which just so happen to support their
favored policies of state domination over money. The reality is that not only has gold held
its value over time, those panics which Krugman refers to occurred because of
government intervention; not the gold standard. Keynes
himself was contemptuous of the middle class throughout his professional career.
This is perhaps why he held
such disdain for gold.
, Charting
The Unprecedented 'HFT-Driven' Rise In Intraday-Trading Volatility , The
Election: It's The Food-Stamps, Stupid!
, As
Bank Profits Plunged In 2011, Banker Bonuses... Rose , ECB's
Asmussen 'Double-Speak' Confuses Algos But Rajoy Gets The Message , Guest
Post: On Switzerland And The Mafia A
few weeks ago, western governments' war on productive people took an
interesting twist when US
immigration authorities detained two teenage children of an asset manager based
here in Switzerland. The kids were traveling through the United
States by themselves to visit extended family, and they were interrogated for
six hours about their father's business and whereabouts. During the six-hour
ordeal, the children were not allowed to contact family members who were
waiting for them, nor any sort of attorney or advisor. This 'guilty until
proven innocent' approach is the same sort of special treatment reserved for
suspected terrorists. The only difference is that you don't end up in Guantanamo.
Free societies do not treat people this way. Hell, most criminal
networks don't even treat people this way. And while it may raise a few bucks in the short run, in the long run it's
counterproductive. People adapt. They create underground, cash-based economies.
They leave. Foreign investors stay away.
(USAGOLD) — Gold remains consolidative to mildly corrective.
While recent housing data took a little wind out of the sails of the QE3
advocates, the Atlanta Fed’s Lockhart seemed to suggest on CNBC today that
additional measures were indeed going to be forthcoming…it was just
a matter of timing.
Lockhart said that more easing in
September was going to be a “close call,” reiterating that action was data dependent in
saying, “If we were to see deterioration from this point, let’s say a
persistence of job growth numbers that were well below 100,000 per month, or
see signs of disinflation that could signal the onset of deflation, then there
wouldn’t be much
of a question about policy.” Those data have not been quite that bad of late,
suggesting perhaps the Fed might indeed be looking to keep its powder dry for
the time being.
Nonetheless, the market will be hanging
on Bernanke’s every word when he speaks in Jackson Hole on
Friday. They’ll be hoping to glean additional clues as to the
likelihood of further Fed measures in September, or whether they should just
start looking forward to the October FOMC meeting.
Our own Mike Kosares, wrote a couple
really good posts on the Breaking News Page yesterday on the topic of QE3:
One
man’s opinion on
Bernanke’s QE3 quandary
Follow
up question: How would the lack of QE3 affect the gold market?
As I’ve stated in the past, the direction gold ultimately
takes is not wholly dependent on whether there is a QE3 or not. Mike apparently
agrees, calling QE3 a “huge distraction and a short term consideration that
takes away from the real reasons why the gold price might rise in the years to
come.”
The speculation about additional ECB
measures continues to rage as well. Both business and consumer confidence in
the eurozone plunged to 3-year lows in August, upping the pressure on ECB chief
Mario Draghi to find a way to provide additional stimulus without enraging
core-Europe…and specifically the Germans.
• US initial jobless claims UNCH at 374k for the week
ended 25-Aug, above expectations of 370k, vs upward revised 374k in the
previous week.
• US
personal income +0.3% in Jul, in-line with expectations, vs negative revised
+0.3% (from +0.5%) in Jun.
• US PCE
+0.4% in Jul, in-line with expectations, vs UNCH in Jun.
• German
unemployment (sa) steady at 6.8% in Aug, in-line with expectations.
• Eurozone
economic confidence fell to 86.1 in Aug, below expectations of 87.6, vs 87.9 in
Jul.
• Eurozone
consumer confidence confirmed at -24.6 in Aug.
• Eurozone
industrial confidence fell to -15.3 in Aug, below expectations of -15.0, vs
negative revised -15.1 in Jul.
• Eurozone
business climate improved to -1.21 in Aug, on expectations of -1.30, vs -1.27
in Jul.
• Eurozone
services confidence fell to -10.8 in Aug, below expectations of -9.0, vs -8.5
in Jul.
• Japan
large retailer sales Y/Y JUL -4.4% y/y in Jul, vs -2.6% y/y in Jun; total
retail sales -0.8% y/y.
http://theeconomiccollapseblog.com
http://albertpeia.com/proscons50states.htm
{ You really can’t dismiss this brief/simplistic survey out of hand;
after all, he gets the the following almost right (jersey should be ranked
below all; ie., ‘F-‘ !) New Jersey: Pros: anyone got something? Cons:
high population density, Camden, Newark, not enough jobs, multiple nuclear
power plants, Atlantic City, crime, gang violence Overall Rating: D- /
California: Pros: Disneyland, warm weather, Malibu Cons: high taxes, Jerry Brown, earthquakes,
mudslides, wildfires, gang violence, crime, traffic, rampant poverty, insane politicians,
ridiculous regulations, bad schools, political correctness, illegal
immigration, not enough jobs, air pollution, multiple nuclear power plants,
possible tsunami threat along the coast, Los Angeles, San Francisco, Oakland,
Stockton, Sacramento, huge drug problem, high population density, the state
government is broke, many more reasons to leave California right here http://albertpeia.com/16reasonstomoveawayfromcalifornia.htm http://albertpeia.com/hopelesscluelesscalifornia.htm
Overall Rating: F }
Half of
Americans die with almost no money
Andrea
Coombes | While some retirees struggle profoundly, living at
or below the poverty line, others enjoy wealth and health.
The Low-wage, No-raise
Economy
opednews.com | What
they were celebrating, however, is far from a genuine recovery in the labor
market.
Facebook
co-founder Moskovitz scrambles to offload his shares
TheRegister.co.uk | Facebook
struggling to maintain investors amid a crumbling economy.
New
Fuel Economy Standards Imposed: Separating Hype From Reality
Bob
Adelmann | The hyperbole surrounding the White House’s announcement
that vehicles must get 54.5 miles per gallon by the year 2025 or else their
manufacturers face fines and other sanctions was nearly suffocating.
The
Math Behind Italy’s 28,000 “Cash For Gold” Outlets
Mike
Krieger | A couple of weeks ago I wrote about how the Portuguese citizenry was
being forced to sell its gold in order to eat.
Euro collapse
imminent, experts believe
Natural
News | The future does not look very promising for the euro.
Obama
Has Stolen $5.3 Trillion From Our Children In Order To Make Himself Look Good
The
Economic Collapse | Barack Obama has destroyed the future of America in order
to improve his chances of winning the next election.
AP Business
Highlights
...Yahoo Market
Update…
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
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
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.
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
Postal Service loses $3.2b in first quarter...
78% of
_______________________________________
{ some prior links of current
interest }
