Saturday, February 28, 2015

SATURDAY 2/28/15; India Budget; Putin Critic Murdered; Ukraine Crumbling; US Ammo Ban; PBOC (China) Cuts Rates

India Prime Minister Narendra Modi announces the first government budget. Corporate taxes are cut. India plans to construct power plants to improve availability and reliability of the electrical grid. The budget provides for over $11 billion in infrastructure spending. In addition, a social security program is announced to provide assistance for poor Indians. The devil will be in the details. Tickers such as IFN, INDA, INDY, EPI and INXX (infrastructure) may see active trading on 

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evidenced in the US over the last few years, the central banker stimulus will serve to inflate stock prices but will not achieve the desired goal of increased lending. Even more obscenely, in a few months or years that mountain of printed money will flood into the economy, the sleeping ‘velocity of money’ will accelerate wildly, and rapid inflation including hyperinflation will send economies and markets into turmoil. First, however, over the coming weeks and months, the world fights rampant deflation with ineffective money-printing schemes spawned by global central bankers.

Friday, February 27, 2015

FRIDAY 2/27/15; Greece Riots; Venezuela Turmoil; Congress Faces Deadline to Fund DHS; GDP; Chicago PMI; Consumer Sentiment; EOM; COMPQ 15-Year Record High

Asian indexes are mixed with the NIKK printing another record 15-year high. Japan’s consumer price inflation drops for six straight months at +0.2% below the +0.5% at the end of last year. The BOJ is not making progress towards the +2% inflation goal despite the ongoing obscene Keynesian spending and is actually losing ground. On the bright side, Japan’s industrial output jumps +4% the most in years handily trouncing the +2.4% expectations. The industrial production strength indicates 

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Russia and oil and gas giant Gazprom threaten to cut the gas supply to Ukraine since more payments are due. Gazprom may not complain too loudly since the cash flow and payments are needed considering the dire shape of the Russian economy. If gas is shut off so is the income. Russia, Ukraine and Europe are intertwined economically; each region is cutting its nose to spite its overall face.

An interesting divergence this week occurs with stocks printing new all-time record highs with traders cheering for Nasdaq 5K but earnings are turning negative year on year. Traders ignore the developing trend in lower earnings and instead party like its 1999.

At 7 PM, deliberations continue in Congress to avert a shutdown in DHS now only five hours away. About an hour later, the House passes a bill to fund the Department of Homeland Security for one week’s time and President Obama signs the bill. Nothing changes. The political Einstein’s will continue fighting over the coming days and must come to an agreement by this time next week or funding to DHS will stop. This situation rises due to the president acting unilaterally changing immigration law. The funding of DHS is a tool the republican-controlled Congress is using to rein back the presidents independent decrees. The stock market typically trades weak when Congress is in session and the ongoing DHS drama and uncertainty should act as a drag on equities next week.

Wednesday, February 25, 2015

THURSDAY 2/26/15; European/German Yields Dropping; CHS; DDD; KSS; MBLY; CPI (Consumer Price Index); Durable Goods; GPS; HLF; JCP; UHS

Asian indexes begin trading with Australia’s SPASX200 moving higher. Qantas flies +5% higher on the nee-jerk reaction after releasing an earnings beat with further expense-cutting measures planned but loses altitude as the session continues. Japanese pension funds announce plans to buy more individual company stocks rather than bonds. The pension fund buying will create big demand for stocks so the NIKK gains +1.1% to a new high for the year. People’s futures will be riding on a bunch of flimsy stocks. Aussie stocks reverse course and 

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the huddled masses suffer through structural unemployment while handling large student and overall debt. This is the world the Federal Reserve has created. Markets were never allowed to clear properly in early 2009 so capitalism ended in a ball of flames and the ongoing bread and circus society flourishes. Americans only want the benefits of capitalism (markets go up) but no one wants to experience the bad side and pain of capitalism (bankruptcies and markets clearing) therefore capitalism does not exist.

WEDNESDAY 2/25/15; China Flash PMI; Ireland 10-Year Yield Under 1%; CPB; DLTR LOW; TGT; TJX; New Home Sales; Fed Chair Yellen Testifies Before House Committee; SPX, INDU and RUT All-Time Highs; COMPQ 15-Year Record High; LB; CRM

In Asian trading, the NIKK finishes marginally lower. The SPASX200 gains +0.3% with the Aussie dollar at 0.7885. KOSPI gains +0.7% with Samsung Electronics and Hyundai Motor leading the parade higher. New Zealand’s benchmark index joins the global central banker-induced stock market party printing record highs.

China HSBC Flash manufacturing PMI is 

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 bullish market sentiment continues non-stop. NYSE floor trader Gordon Charlop says a near term bottom appears to be in place and stocks are set to run higher. Charlop expects stocks to remain at these levels or higher. Markets participants remain generally complacent and unconcerned about a selloff occurring in stocks. Commenting on the stock market, Simply Money CEO Nathan Bach says, “I know bubbles and this is no bubble.”

Loomis Sayles strategist David Sowerby says insider selling is not a critical variable to gauge markets and he looks for higher highs in stocks going forward. From the opposite perspective, insider selling is at record highs and is usually a contrarian indicator that forecasts lower stock prices ahead; executives that are intimate with a company’s economic details are cashing out of their holdings gittin’ while the gittin’ is good.

Euro 1.1362. Dollar/yen 118.84. Pound 1.5526. WTIC oil 51.03. Brent oil 61.89. Natty 2.875. Gold 1204. Silver 16.515. Copper 2.66.

MS announces a $2.6 billion settlement with the DOJ which will help place litigation costs in the rear view mirror. MS trades flat on the news in the afterhours but the settlement may provide lift for the financials tomorrow. Typically, banks rise on settlement news since uncertainty is removed.

The debt-to-GDP ratios around the world are at alarming levels. Japan is at an astounding 400% debt-to-GDP ratio. Equally ridiculous is eight other countries with debt-to-GDP ratio’s above 300% including Ireland, Singapore, Portugal, Belgium, Netherlands, Greece, Spain and Denmark. All are in the European financial arena except for Japan and Singapore. This situation will likely not end well.

Approximately 100 Christians, including many women and children, are kidnapped by the ISIS Islamist radicals in Syria. The sick Islamist militants are threatening to murder the hostages including priests and the elderly. Fierce localized fighting continues across Syria. ISIS Islamist radicals continue to perform genocide against Christians and Jews in the new Holy War.

Tuesday, February 24, 2015

TUESDAY 2/24/15; Greece Reforms Approved; Ukraine Fighting Continues; HD; M; ODP; PF; SAFM; TOL; Consumer Confidence; Fed Chair Yellen Testifies Before Senate Committee; FTSE, DAX, SPX, INDU, RUT All-Time Highs; COMPQ 15-Year Record High; CBI; EIX; HPQ; DWA; SAM

Asian indexes are higher except for the Hang Seng. Volumes remain light. China will resume trading tomorrow. NIKK +0.7%. The Nikkei Index touches 18603 another 15-year high. SPASX200 +0.3%. HSI -0.4%. Standard Chartered collapses over -4%. KOSPI +0.4%. Taiwan resumes trading after the New Year holiday with indexes printing at seven-year highs; the benchmark Taiex gains +1.1%. AAPL component suppliers trade higher. BHP Billiton surprises with 

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 Hewlett-Packard lays an egg with an earnings miss and lower guidance. HPQ drops -4% and lower. Hewlett complains that the higher dollar is hurting profits. The weak results will create a drag on the Nasdaq tomorrow. DWA loses -3% on weak earnings. Peer to peer loan provider LC drops -11% after reporting earnings that beat by a hair. SAM trades lower after earnings so shareholders drink a Boston Beer to drown their sorrow. EIX beats on earnings. CBI is a bellwether for the LNG (liquefied natural gas) industry and it beats by three cents on EPS, misses on the top line and guides lower.

President Obama vetoes the Keystone pipeline bill as expected. The project would have created thousands of jobs across the Midwest. All environmental studies have approved the project. The president, a democrat, does not care since most of the voters in the states that would benefit are republicans. At the same time, most environmentalists opposing the project vote democrat so they are pleased. Further, the president’s wealthy buddy Warren Buffett becomes richer since more oil will have to be transported via rail and Buffett owns the railways. The rail transportation of oil, as evidenced by several tragic train accidents over the last year, is far more dangerous than pipelines. Political baby games and partisanship rules America in 2015.

Sunday, February 22, 2015

MONDAY 2/23/15; Greece Reform Package Deadline; Ukraine Turmoil; Portugal 10-Year Yield Drops Below US 10-Year Yield; AXL; CTB; Existing Home Sales; RUT and AAPL All-Time Highs; COMPQ 15-Year Record High; THC

In Asia, the Year of the Sheep is underway with several indexes trading again after the New Year holiday although China, Taiwan and Vietnam markets remain closed. The SPASX200, NIKK and KOSPI all trade higher in the early going. Bluescope Steel is crushed -10% despite reporting strong earnings and benefiting from lower iron ore prices and a pickup in the Aussie housing market. Bluescope warns of margin compression and lower steel prices ahead creating the weakness.

As the US enjoys Sunday evening, the S&P futures are 

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 one-third of Americans are at risk that a financial crisis will impact their lives. 13% of Americans, about one in eight, do not have any emergency savings available. Another 24% of Americans, one in four, have more credit card debt than emergency savings. The central banker Keynesian spending has only benefited the wealthy that own stocks. The middle class and poor continue to struggle while they watch the wealthy become filthy rich courtesy of the Fed’s policies.

In the evening, US futures are flat. Euro 1.1336. Dollar/yen 118.91. Pound 1.5452. Aussie dollar 0.7805. WTIC oil 49.65. Brent oil 58.90. Natural gas is 2.90 after printing above 3.00 this morning. Gold 1204. Silver 16.41. Copper 2.58.

US Treasury yields are; 2-year 0.61%, 5-year 1.55%, 10-year 2.07%, 30-year 2.66%. The 2-10 spread is at 146 bips.

SUNDAY 2/22/15

The shopping malls continue to receive bad press as retailers go bankrupt and the large anchor tenants pull up stakes due to store count reduction plans. The empty store fronts result in less foot traffic and an increase in nefarious activities such as gang activity or flash mob events. A security guard was shot dead at a San Bernadino strip mall a couple days ago. Adding to the concern over the modern-day shopping mall in America, the al-Shabaab radical Islamist terror group calls for attacks on US, Canadian and UK malls feeding off their murderous rampage at the Kenyan mall two years ago.

The al-Shabaab terrorists are 

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Mercedes recalls nearly 150K cars to replace a rubber seal that may come into contact with the hot exhaust pipes causing a fire; a minor fix. The art and collectibles bubble continues to expand as Muhammad Ali’s boxing gloves fetch nearly $1 million. The boxing gloves are from the Sonny Liston fight in 1965. An autographed picture of baseball legend “Shoeless” Joe Jackson fetches $180K.

Saturday, February 21, 2015

SATURDAY 2/21/15; Greece Bailout Aftermath

Euro 1.1378. Dollar/yen 119.01. Pound 1.5396 US dollar index 94.32. WTIC oil 50.81. Brent oil 60.10. Natural gas 2.95. Gold 1205. Silver 16.27. Copper 2.59.

US Treasury yields are; 2-year 0.64%, 5-year 1.59%, 10-year 2.12%, 30-year 2.72%. German bund 0.393%. Japan 10-year yield 0.388%.

The smoke clears after the Greece bailout agreement that launched the US stock market higher into 

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Thousands of flights are cancelled and air travel schedules are delayed by many hours due to winter storms in the western states as well as up the eastern seaboard.

SBUX plans to stop selling CD’s in its popular coffee shops. Starbucks is expected to replace the CD’s with smaller Starbucks-branded digital download cards. SBUX traded marginally lower in afterhours trading last evening.

The retail sector casualties continue with skimpy lingerie seller Frederick’s of Hollywood planning to close over 30% of its stores. Conversely, L Brands is a huge success story this year with the skimpy Victoria’s Secret lingerie dancing off the shelves in record amounts. LB stock has doubled and more, from 40 to over 90, during the last two years. The retail bankruptcy list of failures increases including RadioShack, Cache, Wet Seal, C Wonder and Sky Mall. There are eight notable retail bankruptcies over the last year matching the number from the entire prior five-year period.

Thursday, February 19, 2015

FRIDAY 2/20/15; Flash PMI's; OpEx; DE; COG; HCN; LH; Greece Bailout Agreement Creates US Stock Rally; SPX, INDU, RUT and AAPL All-Time Highs; COMPQ 15-Year Record High; Russia Downgrade

Euro 1.1361. Dollar/yen 119.04. Pound 1.5421. Aussie dollar 0.7794. WTIC oil 51.27. Brent oil 60.21. Natty gas 2.81. Gold 1209. Silver 16.40. Copper 2.61.

US Treasury yields are; 2-year 0.62%, 5-year 1.57%, 10-year 2.12%, 30-year 2.74%.

The NIKK prints another new 15-year record high at 18361 gaining +0.4% on the  weaker yen (dollar/yen pair above 119). Japan Display gains +5% on news of a proposal to build a factory to manufacturer screen panels for AAPL products. The SPASX 200 is down -0.4%. The India Sensex BSE ends a seven-day winning streak remaining near the record high above 29.9K four days ago. Standard Chartered senior executive Warren Lee and his wife and child are tragically killed in an auto accident in New Zealand. Lee was with Standard Chartered for 10 years and previously worked for DB and BAC so he likely knew where the bodies were buried.

Global traders are monitoring the Greece bailout drama. Germany is playing hardball rejecting the 

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 Extreme bullish sentiment and uber low bearish sentiment signals a near term top in stocks. Ditto the low put/call ratios. Despite the euphoria and bullish excitement, the put/calls say a near term top is at hand for the stock market.

The dock workers and dock operators (management) reach a five-year agreement ending the West Coast port strike. Labor Secretary Perez serves as a mediator in the talks over the last four days. The Whitehouse releases a statement saying the deal is a “huge relief.”

Moody’s rating agency downgrades Russia’s credit rating to junk status with a negative outlook. Moody’s Investors Service cites the ongoing Ukraine civil war as a concern that may create further problems for Putin’s nation. Russia is falling into recession that is expected to linger into next year.

THURSDAY 2/19/15; NIKK 15-Year Record High; Greece Bailout Drama; ECB Minutes; WMT; BCC; HRL; RS; UPL; Philly Fed Survey; Leading Indicators; SPX, RUT and AAPL All-Time Highs; COMPQ 15-Year High; ED; JWN; MHK; NEM

The Lunar New Year celebrations are underway in Asia with China, Hong Kong, Taiwan, South Korea, Indonesia and Malaysia markets closed. Japan is open for trading and the NIKK begins the session up +0.4% moving towards new record highs. Australia’s SPASX200 drops -0.2% out of the gate.

S&P futures are flat. Dow -12. Nasdaq +1. Euro 1.1402. Dollar/yen 118.79. Pound 1.5438. Aussie dollar 0.7811. US oil inventory data is larger than expected sending oil prices lower. WTIC oil 50.69. Brent oil 60.53. Natural gas 2.82. Gold 1214. Silver 16.55. Copper 2.61.

US Treasury yields are; 2-year 0.60%, 5-year 1.52%, 10-year 2.08%, 30-year 2.70%.

Japan prints a new record 15-year high at 18323 at

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 top line sales miss was significant. Rocket Fuel blows up on the launch pad with FUEL collapsing -20% after missing on earnings and providing lower guidance.

ED gains +4% after reporting earnings so the utilities sector may see a lift tomorrow. FTR gains +0.9% after reporting a profit. INTU gains +2% despite reporting a loss. Key housing sector bellwether MHK bounces +2.2% after beating on profit forecasts. Gold miner fave NEM bounces +1.3% after reporting earnings. Biopharma XNPT gains +5.2% after earnings. Offshore driller PGN leaps +8% after reporting earnings.

The West Coast ports shut down after the unions decide to meet which they are permitted to do under their contract. Dock operators close the ports due to the work stoppage. The West Coast ports are in chaos with the situation starting to spin out of control.

Traders are expecting the Greece dilemma to resolve favorably possibly tomorrow. Stocks remain buoyant since traders anticipate happy news. The meetings on the Greece bailout package begin at 9 AM EST so news bites, good or bad, should occur during the morning trading hours.

Tuesday, February 17, 2015

WEDNESDAY 2/18/15; Happy Lunar New Year; "Year of the Sheeple"; ISIS Genocidal Murder; Greece Bailout Drama; DUK; FLR; GRMN; H; Housing Starts; PPI (Producer Price Index); Industrial Production; FOMC Minutes; RUT and AAPL All-Time Highs; COMPQ 15-Year Record High; CAR; DENN; IPI; MAR; MRO; SUNE

China, Taiwan, South Korea and Vietnam markets are closed as the Lunar New Year celebrations begin. Malaysia and Singapore are closing early. The Chinese New Year welcomes the “Year of the Sheep” or more humorously the “Year of the Sheeple.” The NIKK and SPASX200 are each trading higher in the early going the 

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entire world accepts the religious militarism as a given with global leaders referring to the ISIS and other terrorist attacks as “Islamist radicalism.” The president refers to the assassinated Coptic (Egyptian) Christians as “Egyptian citizens” to water down the religious aspect of the Islamist radicalism. The president will be waiting a long time if he expects the world to join his softened-down “violent extremist” word games. The president will have to buckle and join the rest of the world in the fight against militant Islam.

President Obama desperately wants to avoid a legacy of creating a Holy War across the Middle East, northern Africa and around the world on his watch. Who would want to be associated with that in the history books? Especially since the president was given the Nobel Peace Prize. How ironic that the recipient of the peace prize has conducted the Libyan War and the ongoing war in Syria and Iraq dubbed Operation Inherent Resolve and now oversees the beginning of a global Holy War pitting Western culture (Christians and Jews) against radical Islam.

Monday, February 16, 2015

TUESDAY 2/17/15; Greece Bailout Talks Breakdown; Ukraine Ceasefire Fragile; GPC; GT; MDT; Empire State Mfg Survey; SPX 2100 New All-Time High; RUT and AAPL All-Time Highs; COMPQ 15-Year Record High; DVN; FE; FLS; LZB; RAX

At 6:36 PM EST in the States Monday evening, Asian indexes are preparing for Tuesday trading. US futures are weak. S&P futures -10. Dow -63. Nasdaq -7. The euro drops like a stone to 1.1342 after the Greece bailout talks fail. Euro/yen 134.43. Dollar/yen 118.52. Pound 1.5363.

WTIC oil 52.68. Brent oil 61.60. Natty gas 2.85. Gold 1232. Silver 17.28. Copper 2.61.

US Treasury yields are; 2-year 0.64%, 5-year 1.54%, 10-year 2.05%, 30-year 2.65%. Bond trading will begin shortly.

Northern Japan is hit with a 6.9 magnitude earthquake creating a small tsunami 

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DHS will run out of funding next Wednesday, 2/25/15 if an agreement is not reached by the lawmakers. The theatrics are occurring as a means to slowdown or stop President Obama’s independent actions on changing immigration laws. Washington, DC, is dysfunctional.

Student debt is at the highest levels ever; a shameful $1.16 trillion. No wonder young adults are not buying houses. They are straddled with student debt while working at a low-paying job, if they have a job, that does not even make use of their expensive education. If studying accounting, engineering, medicine and other difficult fields, the hard work will likely pay off. If taking on loans to study Basket Weaving 101, that will get you nothing except deep in debt.

Sunday, February 15, 2015

MONDAY 2/16/15; Japan GDP; NIKK 18K; Greece Bailout Talks Collapse; President's Day; US Markets Closed; Ukraine Ceasefire Fragile

As Asian markets prepare for the new trading week ahead (6 PM EST Sunday evening US East Coast time), the euro is above 1.14. Dollar/yen 118.64. Pound 1.5412. Aussie dollar 0.7773. WTIC oil 53.35. Brent oil 62.12. Natural gas 2.79. Gold 1228. Silver 17.32. Copper 2.60. Vietnam and Taiwan markets are closed due to the Lunar holiday. Trading volumes across Asia are expected to be light. China will begin the New Year’s celebrations for the “Year of the Sheep” (humorously dubbed the Year of the Sheeple) from Wednesday forward.

The Aussie SPASX200 teases at record highs. Japan’s Q4 GDP is +2.2% missing the more robust +3.7% expectations. 

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Greece bailout talks breakdown in Brussels wrapping up far earlier than expected. Greece will not agree to a policy that extends the current bailout program for six months so the talks are at a stalemate. Greek’s are beginning to withdrawal more cash from banks again so capital controls may be imposed (a limit on the amount of daily withdrawals). The ECB plans to announce on Wednesday how long the emergency funding will continue for Greece.

The breakdown in Greece talks is surprising and along with fighting in Ukraine despite the ceasefire, will create weakness in global stocks and the US reopens for trading tomorrow morning.

SUNDAY 2/15/15; Denmark Terrorism; ISIS Islamist Radicalism Spreads; Ukraine Ceasefire Holds

Political and terrorism analysts and pundits are highlighting the similarity of the Denmark terrorism this weekend to the France terrorism at the Charlie Hebdo offices. Clearly the Islamist radicals are targeting anyone that depicts the prophet Muhammad’s image as well as Christians and Jews. In addition to attacking cartoonists, the Islamist militants in France attacked the Jewish deli and supermarket and the second Copenhagen attack yesterday is at a synagogue.

The ISIS Islamist radicals are fighting a Holy War around the world against Christians and Jews (Western culture). The majority of Denmark’s Jewish population resides in Copenhagen which serves as a target of radical Muslims. In France, hundred of monuments are 

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The politicians including the president are part of the elite class that maintain a dovish central bank with the likes of former Fed Chairmen Greenspan and Bernanke, and current Fed Chair Yellen, that print money and implement Keynesian policies that send stock prices higher only benefiting the rich. Federal Reserve members are glad to oblige and goose the stock market since they receive kickbacks when they leave office via lucrative speaking fees the banksters are glad to pay. This is how America functions in 2015.

Computer hackers have stolen $1 billion from banks and financial institutions around the world. The cyber attacks are the largest in history occurring against over 100 banks. The cyber hackers have infiltrated banking systems and can cause ATM machines, such as those in Ukraine, to spit out money at will. The bulk of the cyber security problems are occurring in Europe and Russia but computer experts say banks and financial institutions in Asia and the US will likely be targeted next.

The FDA approves genetically-engineered apples that will not turn brown as they are eaten. The Frankenstein fruit will create a further controversy concerning the use and safety of genetically modified organisms (GMO). GMO corn and soybean crops are already in the food supply. The organic and fresh food stocks such as WFM are feeling love as folks avoid the laboratory-modified food.

SATURDAY 2/14/15; Denmark Terrorist Attack; Ukraine Ceasefire Begins; Valentine's Day

Ukraine fighting continues ahead of the ceasefire set to begin in only a few hours.

The Royal Canadian Mounted Police (RCMP) foil a mall attack arresting those involved; one nut commits suicide. The malls are becoming breeding grounds for nefarious activity 

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 the president will likely have to decide to fight ISIS forcibly with US boots on the ground, or, continue to lead from behind and play down the ongoing and growing ISIS radical Islamist movement. Over time ISIS is growing in size becoming a larger and larger force to stop. The Boko Haram Islamist radicals are beginning to pledge allegiance to ISIS and ISIS fighters are now in Libya expanding their tentacles into North Africa. ISIS metastasizes while President Obama ponders his foreign affairs strategy. If the president sits back and watches the new Holy War may expand on his watch whether he wants it to or not. A poll shows that two-thirds of Americans think the president is not doing enough to fight terrorism but at the same time many of these folks do not want to see boots on the ground in Iraq.

Danish police corner the terrorism suspect at a bus station shooting and killing the alleged Islamist radical. The investigation begins into the shooter’s background and friends and associates. Denmark remains on edge until the killer’s acquaintances can be traced and identified.

In the midst of the global turmoil, Valentine’s Day occurs providing an opportunity for folks to pursue love rather than hate.

Friday, February 13, 2015

FRIDAY 2/13/15; Friday the 13th; Cascading Global Rally Continues for Second Day; Europe GDP's; DAX Hits 11K; DTE; EXC; SJM; Consumer Sentiment; Dow 18K; SPX and RUT All-Time Highs; COMPQ 15-Year Record High; AAPL New Record High

Asian indexes are upbeat across the board except for Japan as the dollar/yen pair moves lower (stronger yen). The cascading global rally after the Ukraine ceasefire ripples from Europe to the US to Asia. A resolution to the Greece drama appears very likely on Monday so traders are beginning to price it in to markets. The NIKK loses -0.4%. Rakuten, the online retailer, is a bright spot gaining nearly +6%.

The SPASX200 gains +2.4% at new record highs not seen since 

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 13F filings for the large money managers are made public but the data remains at a 45-day lag so the positions may have already changed again. Hedge fund manager Dan Loeb at Third Point opens new long positions in AIG, AGN, EMC, PSX, C and DAL. Stakes are increased in EBAY, SUNE and AAL. Loeb ditches APC and FDX.

Hedge fund hot-shot David Einhorn ditches CI and reduces stakes in AET and AAPL. Einhorn increases his stakes in SUNE. Appaloosa’s David Tepper exits the airline stocks and PCLN. Tepper ditches FB, BABA, C and CBS. Interestingly, Tepper kicks Citigroup to the curb but Loeb is a buyer. GOOGL co-founders Sergey Brin and Larry Page plan to sell $4.4 billion worth of Google stock over the next two years.

Wednesday, February 11, 2015

THURSDAY 2/12/15; Greece Talks Fail; Sweden Announces QE; IMF Provides Ukraine Financial Aid; Ukraine Ceasefire Creates Global Market Rally; APA; K; VG; Retail Sales; Business Inventories; AAPL All-Time Record High; COMPQ 15 Year Record High; 30-Year Bond Auction; AIG; GRPN; KRFT; ZNGA

The euro zone finance ministers meet well into the night and early morning discussing a potential resolution to Greece but the talks fail after six hours. The meetings will resume on Monday. Greece FM Varoufakis paints a rosy picture saying both sides are seeking common ground in civil discussions. Germany’s Schaeuble thought an agreement was reached and was departing the meeting when Varoufakis back pedaled after talking with Greece PM Tsipras. It is now apparent that Varoufakis will need approval of any deal he develops adding an extra step of drama and

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drops -1.7% after reporting earnings and changes at the executive level. Ag giant CAG drags -3% lower after reporting earnings and cutting forecasts.

SFLY beats on the top and bottom lines. ZNGA, the Words with Friends videogame maker, misses on earnings and is punished -15%. KING, the Candy Crush videogame provider, beats on earnings rising +21%.

President Obama hams it up like a high school adolescent in a promotional video skit to urge healthcare sign-ups under the ACA (Obamacare) law. The president uses a ‘camera on a stick’ to take ’stick selfies’ of himself carrying-on like an over-active school boy (a selfie is a photo or video you take of yourself with a smartphone camera). As would be expected, detractors of the president are displeased at the unpresidential behavior, however, even those supportive of the president wince at the display of immaturity. The president films the self-absorbed video after confirmation that Kayla Mueller was murdered by the ISIS Islamist radicals in Iraq.

WEDNESDAY 2/11/15; European Leaders Meet to Discuss Greece and Ukraine; PEP; LO; MOS; OC; GNRC; S; 10-Year Note Auction: AAPL New All-Time High; AMAT; CSCO; TSLA; TSO; BIDU; MET; Potential Greece Bailout Deal Fails

Asian indexes are mixed which is a regular pattern in recent days. The SSEC gains +0.5% as traders continue to believe the PBOC will provide more easy money to goose stock prices higher. The KOSPI gains +0.5% reversing four days of softness. NIKK -0.3%. SPASX200 -0.5%. The Hang Seng Index loses -0.9%.

China’s top brokerage Citic Securities trades down 

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bread is going stale at Panera after the company lowers guidance for this year. PNRA is crushed -9%. SpaceX successfully launches a rocket into space; Elon Musk will be happy as he prepares to begin the Tesla conference call.

At 6:17 PM EST, US futures retreat after Eurogroup’s Jeroen Dijsselbloem throws cold water on the Greece happy talk. Dijsselbloem says there is no deal and talks will continue on Monday. Greece FM Varoufakis parrots the Eurogroup comments saying an agreement could be reached early next week. S&P futures are +4 losing eight handles in a heartbeat. Dow +30. Nasdaq +6.

At 7 PM, S&P +1. Dow +12. Nasdaq +2. What the Greece happy talk giveth the Greece sad talk taketh away. Futures perform a round trip with the S&P futures gaining +12 on the happy talk and then losing it all on the sad talk. The Greece bailout drama continues.

Monday, February 9, 2015

TUESDAY 2/10/15; China Inflation Data; Potential Greece Bailout Deal Creates Global Market Rally; CVS; DF; KKR; KO; RAI; REGN; WPP; Wholesale Trade; AKAM; PIR; WU

Asian indexes are lower overnight with China and Hong Kong higher. The NIKK and SPASX200  are each down -0.3%. Bradken, a mining services company, collapses -22% after reporting weak earnings. S reports soft earnings and trades lower which drags down Softbank a major shareholder of Sprint. Nissan jumps nearly +4% higher on strong auto sales. KOSPI -0.6%. South Korea retail sales data take a drastic drop lower

[Text is Redacted: Purchase February 2015-02 to Read the Complete Chronology]

. AAPL is up +2% to a new all-time record high at 122.15. Apple is the first company in the world posting a market cap over $700 billion. Traders and analysts are saying AAPL will be the first $1 trillion company; is the euphoria too excessive?

After the closing bell, AKAM pops +3% in AH trading on positive earnings. PIR is poleaxed -32% after reporting earnings and announcing the departure of the CFO. NCR reports earnings guiding lower so the stock is punished -3% and earns its nickname from years ago when the main business was old-fashioned cash registers; ‘National Crash Register’. CERN earnings are in line on EPS and a beat on the top line. FTI beats on top and bottom lines. PXD misses on EPS but beats on the top line. RKUS meets on EPS but misses on the top line and guides lower. WU jumps +3% in afterhours trading after beating on EPS but missing on top line revenue.