Tuesday, March 31, 2015

WEDNESDAY 4/1/15; Global PMI’s; April Fool’s Day; MON; UNF; ADP Employment Report; German Bund Record Low 0.157%; GDDY; ISM Mfg Index; MU

Today is the first day of trading for Q2 also April Fool’s Day so remain cautious for tricks from friends, family and coworkers. Asian indexes are weak except for Chinese stocks. China PMI is 50.1 a single hair in expansion above 50 and above last month’s 49.9. In contrast, the HSBC PMI for China, a measure of smaller companies, is 49.6 better than the flash (preliminary) 49.2 number but indicating economic contraction.

Traders cheer weak Chinese data since the PBOC will have to provide more easy money which will send stocks higher and make the wealthy, that own stocks, richer. The SSEC gains +1.7% and HSI is up +0.7% with traders celebrating weak manufacturing data in this sick central banker-controlled world. The global central bankers have destroyed all price discovery over the last few years; no one really knows what any asset is truly worth anymore. The party continues with easy money creating liquidity and higher stock prices. Chinese officials are expressing concern over the rapid rise in stock prices but say the top priority is stabilizing the economy. China follows the same sick path as the United States has for the last six years.

The Japanese Tankan Survey indicates weak corporation sentiment. The NIKK finishes down -0.9% but remains above 19K. Australian stocks continue a seesaw week losing -0.5%. The collapse in iron ore prices, down to $51 per tonne a 10-year low, continue to pound Aussie stocks lower. The KOSPI is down -0.6%. Steelmaker Posco drops nearly -3% after BRK/A (Warren Buffett) dumps its shares. The South Korea PMI disappoints. Odd behavior occurs in the US futures with the S&P down -6, then -12 then down as much as -25 points before recovering. There are gremlins in the computer trading systems.

The Iran nuclear talks continue 

[Text is Redacted: Purchase April 2015-04 to Read the Complete Chronology]

Micron Technologies earnings beat on top and bottom lines but guidance is weak and MU pops then drops -1% in AH trading. The chip sector may trade soft tomorrow. SIGM drops -2% after reporting a Q4 loss adding to the tech sadness after hours. TSLA stock jumps a couple percent but quickly retreats to the flat line after a childish April Fool’s prank is posted on its website announcing a Model W fictitious watch.

The CFTC files charges against Kraft and Mondelez over wheat futures manipulation. KRFT -0.2%. MDLZ trades flat. An oil rig fire in Mexico owned by Pemex kills four. Transocean announces plans to scrap two oil rigs and take charges for the decommissioning. RIG trades +0.3% higher.

Euro 1.0763. Dollar/yen 119.68. Pound 1.4824. WTIC oil 49.55. Brent oil 56.70. Natty gas 2.60. Gold 1204. Silver 16.935. Copper 2.743.

Treasury yields are; 2-year 0.54%, 5-year 1.32%, 10-year 1.86%, 30-year 2.466%. German bund 0.174%. Japan 10-year yield 0.382%.

Monday, March 30, 2015

TUESDAY 3/31/15; EOM and EOQ1; CONN; Chicago PMI; Consumer Confidence; Cascading Global Stock Market Selloff

The Chinese finance Ministry lowers the down payment required on second home purchases from 60% to 40% and homeowners that have held property for over two years are exempted from sales tax. The measures are welcome but traders are expecting the PBOC to provide juicier rate cuts and lower triple R cuts for the banks that will catapult stocks higher. Asian stocks follow the US joy beginning on a strong upbeat but as the sessions continue stocks leak lower with traders disappointed that the PBOC is not announcing more easy money policies right away.

The NIKK ends down -1.1% to 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

 The information verifies other recent polls and surveys. No wonder lower gasoline prices die not boost retail sales; people are trying to save money rather than spend which is troubling news for sustaining a fragile economic recovery. The Federal Reserve easy money policies over the last few years have succeeded in making the wealthy, that own stocks, filthy rich while hurting the middle class and poor.

An Uber driver in New York is arrested after dropping off a rider at the airport and then robbing the person’s house. People continue to stupidly publicize all their personal information on the internet; idiots using computers to interact socially with other idiots.

The grandson of oil tycoon J Paul Getty, Andrew Getty, 47 years young, is found dead at his Hollywood home. Preliminary investigations indicate that the body experienced trauma but no other details are available.

Sunday, March 29, 2015

MONDAY 3/30/15; SSEC Rallies on PBOC Stimulus Expectations; CALM; Personal Income and Expenses; Cascading Global Stock Market Rally

At 8 AM Tokyo time (7 PM EST Sunday evening in the States), Australia trading is well underway with the SPASX down -0.7% at 5880. Mining, energy and basic material stocks are weak as commodities trade lower. Japan industrial production data is down -3.4% weaker than expected. S&P futures are -2. Dow -14. Nasdaq -4. Euro 1.0887. Dollar/yen 119.24. Pound 1.4896. Aussie dollar 0.7739. Dollar/Yuan 6.2157.

WTIC oil 48.17. Brent oil 55.94. Natural gas 2.63. Gold 1198. Silver 16.93. Copper 2.754.

Treasury yields are; 2-year 0.59%, 5-year 1.44%, 10-year 1.96%, 30-year 2.54%. The 2-10 spread is 137 basis points.

The NIKK begins 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

poll shows that one-third of Americans have no savings. Nearly 60% of Americans say they are not prepared to handle an unexpected emergency that would cost over $500 and 55% say they only break even or spend more than they make each month to barely make ends meet. The data explains why the lower gasoline prices since last Fall have not had a positive effect on retail sales.

Common folks are trying to save the gasoline money instead of spend it which does not portend a healthy economy moving forward. The Fed is relying on consumers to spend to jump-start the economy but the obscene Keynesian policies of former Federal Reserve Chairman Bernanke and current Chair Yellen have only served to make the wealthy filthy rich, since they own stocks, while leaving the rest of America in the dust. The FOMC policies champion the wealthy elite in America while screwing the middle class and poor which will lead to future social unrest in the United States.

SUNDAY 3/29/15; Palm Sunday

An Air Canada Airbus A320 airplane crashes on a Halifax, Nova Scotia, runway. There are about 50 injuries but no deaths. The Halifax Stanfield International Airport loses power for 80 minutes after the airplane hit electrical lines.

British Airways frequent-flier accounts are hacked by cyber criminals but the airline claims personal information was not accessed. Accounts are frozen and customers are provided instructions on how to reactivate the information. British Airways will not disclose how many accounts are affected.

Secretary of State Kerry remains in Lausanne, Switzerland, to close the Iran nuclear deal over the next couple days. The US is providing aid to the Arab coalition, led by Saudi Arabia, for the fight against the Iranian-backed Houthi rebels in Yemen. Iran is quiet about the US involvement in Yemen which indicates that Kerry and President Obama are likely giving away the store in the nuclear negotiations. This is verified by Israeli President Netanyahu commenting that the nuclear deal is far worse than expected with great leniency provided to Iran’s ongoing nuclear program. President Obama’s deal with Iran will likely cause a further deterioration in US-Israel relations while emboldening Iran.

Yemeni President Hadi that has fled the country

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

Today is Palm Sunday a Christian holy day with Easter occurring next Sunday.

The PBOC is warning against deflation developing in China which will only fuel the need for more stimulus from the central bank and continue the parabolic move higher in the SSEC Shanghai Index. The communists in China are goosing their economy and stock market with central banker easy money just like Western nations. The global central banker’s only serve the wealthy, that own stocks, making these market participants filthy rich while failing to convince companies to increase capital equipment purchases and job opportunities for common citizens. Companies are using the central banker easy money to pump stock prices higher with stock repurchase (buyback) programs. The middle class disappears and is replaced with a rich versus poor society.

Saturday, March 28, 2015

SATURDAY 3/28/15

US Secretary Kerry continues to negotiate a nuclear arms deal with Iran as the Arab allies (Saudi Arabia) bomb and battle the Iran-backed Houthi radicals in Yemen. A preliminary nuclear agreement over the next couple days will move towards a permanent agreement in June that will likely allow Iran to acquire a nuclear bomb in 10 years. Arab allies, such as Saudi Arabia, are already exploring avenues to develop their own nuclear weapons.

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

Boko Haram Islamist nutcases in Nigeria murder 41 people during the presidential elections. Current President Goodluck Jonathan, embroiled in corruption and scandal as Boko Haram gains influence in the region, faces off against former military leader Muhammadu Buhari.

A UN diplomat, Yusuf Mohamed Ismail Bari-Bari, and 19 others are murdered in a Somalia hotel attack by the al-Shabaab Islamist militant group. The rise of Islamist radicalism continues across the Middle East and northern and western Africa. President Obama pulled all US troops out of Iraq creating a vacuum and rise of the ISIS Islamist movement in Syria and Iraq that is now spreading globally. The president has back pedaled from his plans to pull US troops from Afghanistan to avoid exacerbating the Islamist radicalism problem. The ISIS terrorists are very computer savvy using the Internet as a recruiting tool to grow the murderous movement and encourage lone wolf attacks in Western nations such as the US, UK, Europe, and Australia.

Thursday, March 26, 2015

FRIDAY 3/27/15; Yemen in Chaos; BBRY; GDP (Gross Domestic Product); Consumer Sentiment; Fed Chair Yellen Speaks

Japan CPI (Consumer Price Inflation) and Retail Sales data disappoint. Japanese inflation is at zero after years of obscene Keynesian spending. The BOJ continues printing money to exit two decades of deflation with no success. Household spending remains lackluster but a touch less worse than expected. The NIKK begins lower but recovers to the flat line in early trading. Aussie stocks recover from yesterday’s selloff gaining +0.8% printing above 5900. Gold and energy stocks provide a boost. The KOSPI hugs the flat line out of the starting gate.

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

Former Ambassador to Iraq James Jeffrey, that served under President Obama, describes the Middle East in chaos and deteriorating daily saying, “We (United States) are in god*mn freefall.” The Saudi’s think the US is supporting Iran due to the ongoing nuclear agreement talks and do not trust President Obama. The Whitehouse refuses to back down from the statement that Yemen is an example of their foreign policy success even after President Hadi has fled the country and there is no government in place. The president relies on the lap-dog media to simply turn the other way and ignore the extremely dangerous developments in the Middle East.

Venture capital firm Kleiner Perkins successfully defends against a gender discrimination lawsuit filed by former employee Ellen Pao. Mosquito’s test positive for the West Nile virus in California and residents are encouraged to remove all standing water on property and take other precautions.

Wednesday, March 25, 2015

THURSDAY 3/26/15; Cascading Global Selloff; Saudi Arabia Coalition Bombs Yemen; Greece Deadline; ACN; CAG; LULU; PMI Services; RH; VJET

Australian stocks begin the session on a down beat dumping -1.3%. NIKK futures point to a lower open. At 11 AM Tokyo time (10 PM EST Wednesday evening), the NIKK is trading down -1.7%. The SSEC trades flat and HSI is down -0.2%. Euro 1.0969. Dollar/yen 119.37. Pound 1.4879. Aussie dollar 0.7809. US futures are a touch negative. S&P -1. Dow -6. Nasdaq -4. European futures point to a lower open.

Oil prices are moving higher as 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

 TRAN is down -0.6% and bounces off the 200-day MA at 8648 to close at 8677. TRAN collapses from 9180 to 8611, -6.2%, in four days.

After the closing bell, GME drops -5% after missing on the top and bottom line earnings. RH loses -5% after beating by a penny on EPS but offering weak guidance. 3-D printer VJET reports earnings and catapults +13% higher.

Euro 1.0888. Dollar/yen 119.19. Pound 1.4857. WTIC oil 50.89. Brent oil 58.71. Natty gas 2.656. Gold 1203. Silver 17.075. Copper 2.805. 

WEDNESDAY 3/25/15; German IFO; Greece Angst; Durable Goods; US Stocks Selloff; PVH; RHT

Asian indexes are calm overnight. The NIKK is marginally higher. Aussie stocks are flat. The KOSPI is flat after reporting Q4 GDP at +0.3% the slowest growth in six years. The SSEC drops -0.8% ending the record-setting 10-day winning streak. Traders will maintain lofty levels in the Shanghai Index, however, since the PBOC will keep printing easy money just like other global central bankers. The central bankers are the market. The Hang Seng Index gains +0.5%.

Yemen is in chaos with lawlessness and regional wars flaring up across the country reflecting failed US foreign policy. Fighting continues in Iraq with the ISIS Islamist radicals continuing to rebuff coalition forces in sections of Tikrit. Iran continues to exert a wider influence across Iraq and Yemen causing increasing worry and concern by Saudi Arabia, UAE, Kuwait and other more US-friendly nations.

President Obama continues to destroy relations with Israel and PM Netanyahu threatening to allow a Palestinian state to move forward in the United Nations, a major change of US policy. In the past, the United States always sided with Israel. As the Middle East and northern and western Africa situations deteriorate, the US is poking a stick in Israel’s eye, its strongest ally in the region. Fighting continues in eastern Ukraine despite the cease fire.

At 3:30 AM, S&P futures are -1. Dow -6. Nasdaq +1. European futures point to a lower open. WTIC oil 47.10. Brent oil 54.84. Natty gas 2.72. Gold 1190. Silver 16.93. Copper is down -0.6% to 2.7855 taking a rest after the huge +14% run higher from the back half of last week into early this week that was missed by the media.

Brazil does not plan to 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

 Investors Intelligence Survey continues to report bullish sentiment at about 57% and bearish sentiment at about 14% for the last month; extreme readings on both ends. The uber bullishness and lack of bearishness is reinforced by the comments from money managers in the previous paragraph as well as the low VIX and low CPC and CPCE put/call ratios. A relaxed attitude by traders about buying the upside in stocks without fear or worry usually results in a market selloff.

NATO scrambles Danish and Italian fighter jets to intercept four Russian fighters above the Baltic Sea. The Russian jets have their transponders turned off to avoid detection. President Putin keeps poking a stick in the West’s eye.

Monday, March 23, 2015

TUESDAY 3/24/15; Global PMI’s; MKC; CPI (Consumer Price Index); SCS

As trading is set to begin in Asia, US futures are marginally higher. S&P +2. Dow +12. Nasdaq +5. Euro 1.0940. Dollar/yen 119.83. Pound 1.4953. Aussie dollar 0.7868. WTIC oil 47.21. Brent oil 56.68. Natty gas 2.75. Gold 1189. Silver 16.97. Copper 2.8570.

US Treasury yields are; 2-year 0.58%, 5-year 1.39%, 10-year 1.92%, 30-year 2.52%. The 2-10 spread is 134 basis points.

The NIKK begins trading flat. The China HSBC PMI is 49.2 missing estimates and at an 11-month low. China’s economy remains fragile and the domestic economy is not improving as the communist leaders hope. The SSEC drops nearly -2% but recovers into the closing bell to end marginally positive continuing the longest winning streak in 23 years. Traders know the PBOC has no choice but to keep supplying easy money like all other central bankers around the world so stocks are bid higher. What a sick world the global central bankers have created. Weak economic data is cheered and the wealthy, that own stocks, become richer as common people suffer.

The HSI drops -0.4%. The NIKK ends down -0.2% retreating from yesterday’s 15-year record high. Eisai gains nearly +10% adding to yesterday’s huge gains on encouraging results with its Alzheimer’s drug. The SPASX200 is up +0.2% despite the weak China PMI that shows lackluster demand for raw materials. KOSPI +0.2%. India stocks are trying to reverse a four-day slump trading marginally higher.

European indexes trade lower after the opening bell waiting on the manufacturing data. 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

Storage at the Cushing facility bumps another two million barrels higher. Oil inventories continue climbing for the last three months at the fastest pace in over one decade. Traders are focuses on the EIA Oil Inventories tomorrow morning.

Asset bubbles continue to grow in stocks, bonds, dividend stocks, biotech stocks and high-end real estate, art, collectables and classic cars. The six years of obscene Keynesian central banker money printing creates the excesses. Sales in classic cars in 2014 exceed $1.4 billion a new record. A Picasso painting goes on the block in May for a record $140 million.

The wealthy are diversifying their huge stock market gains into different asset classes blowing large bubbles across many investing segments. While the wealthy become filthy rich courtesy of the Federal Reserve and other global central bankers, the common people suffer daily through high debt and lackluster job opportunities. The separation of rich and poor is at the greatest divide in over 40 years and will lead to social unrest in the months and years ahead.

Sunday, March 22, 2015

MONDAY 3/23/15; Existing Home Sales; RUT All-Time Record High

At 4:30 AM Singapore local time (5:30 AM Tokyo local time and 4:30 PM EST Sunday evening in the States), Singapore PM Lee Hsien Loong  announces the death of his father and founding prime minister Lee Kuan Yew, 91, who served between 1959 and 1990, after a bout with illness. Australian stocks begin trading up marginally to begin the new week. Aussie dollar 0.7784.

Nikkei Index futures are indicating a higher open and another 15-year high. European and US futures are pointing higher continuing last week’s rally after Fed Chair Yellen hints that the first rate hike will not occur  until September or later when June was the original target. The Federal Reserve is more dovish and the easy money ZIRP Forever policy continues to pump stock prices higher making the wealthy, that own stocks, filthy rich.

S&P futures are up +4. Dow +40. Nasdaq +8. Euro 1.0833. Dollar/yen 120.04. US dollar index 97.824. Pound 1.4957. Aussie dollar 0.7779.

WTIC oil 46.15. Brent oil 54.83. Natty gas 2.74. Gold 1186. Silver 16.79. Copper 2.7670.

US Treasury yields are; 2-year 0.58%, 5-year 1.41%, 10-year 1.93%, 30-year 2.51%. The 2-10 spread is 135 basis points. German bund 0.179%. Japan 10-year yield 0.329%.

Asian indexes begin on an upbeat note but end mixed. The NIKK gains +1% to 19754 a new 15-year record high. Japanese exporters are strong as the dollar/yen moves above 120 (weaker yen). Drug-maker Eisai leaps +20% on encouraging results for its Alzheimer treatment. The SPASX200 drops -0.3% at 5956 teasing the 6K level not seen for seven years. The KOSPI is flat.

Asiana Airlines loses altitude 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

digital camera maker DGLY explodes +15% higher after reporting earnings and guidance. CHK bounces +3.3% on news that activist investor Carl Icahn is increasing his stake in the gas and energy company. Energy company WLL is poleaxed -12% after announcing a secondary (dilution). Other companies are offering secondary’s so the stock supply in markets is growing.

Euro 1.0959. Dollar/yen 119.62. Pound 1.4967. WTIC oil 47.43. Brent oil 55.89. Natural gas 2.742. Gold 1189. Silver 16.975. Copper 2.864.

Treasury yields are; 2-year 0.58%, 5-year 1.39%, 10-year 1.91%, 30-year 2.51%. German bund 0.218%.

In the evening US time, morning in Sydney, Australia, Fed’s Williams says a rate hike should occur within a few months and a mid-year target is likely. Aussie futures are indicating a flat open for stocks in the land down under.

SUNDAY 3/22/15; Yemen in Chaos

ISIS Islamist radicals publish names, addresses and pictures of over 100 US servicemen and women on the Internet calling for lone wolf nutcases to attack the American service members.

Iran-backed Shiite militias (Houthi) continue to seize cities in Yemen 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

UN calls an emergency meeting as Yemen spirals out of control. The US continues to back Yemen President Abd-Rabbu Mansour Hadi but he has fled Yemen and the Iran-backed Houthi are taking over. Al-Qaeda terrorists, that conducted the 9-11 attack on America, are in control over other sections of Yemen. The Middle East is deteriorating, fear over terrorist events on US soil are growing daily and relations with Israel are at an all-time low as President Obama is more concerned about his March Madness basketball poll. The US foreign policy is in shambles. President Obama’s docile management technique is resulting in a growing Holy War where Islamist radicals torture, terrorize and murder Christians, Jews and Yazidi daily.

A BNSF unit train derails in Colorado dumping coal from approximately 30 of the 120 cars. Crews are removing the spilled coal but the track damage is extensive. Billionaire Warren Buffett’s BRK/A owns BNSF and his bad luck with the regular rail car accidents, now occurring about once a month, continue.

SATURDAY 3/21/15

North Korea says the country has nuclear missiles and is prepared to use the doomsday weapons if provoked by the United States. North Korean ambassador to Britain Hyun Hak Bong says we do not want war but “we are not afraid of war.” 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

A train derails in Texas with ten tanker cars dumping methanol but no injuries are reported. Families within a couple miles of the spill are evacuated.

Thursday, March 19, 2015

FRIDAY 3/20/15; Total Solar Eclipse; TIF; DRI; KBH; First Day of Spring; US and European Stocks Rally; RUT All-Time High; COMPQ 15-Year Record High; OpEx Quadruple Witching

Aussie stocks follow the US lead and begin the session down -0.2%. The BOJ releases meeting minutes that do not provide any surprises concerning the ongoing monetary policy. The NIKK finishes the week up +0.4% printing new 15-year highs above 19560. The SPASX200 gains +0.4% reversing the earlier losses. The KOSPI trades flat.

The SSEC finishes strong gaining +1% to 3617. Chinese financials remain well bid as traders expect more PBOC going forward. In Hong Kong, the HSI slips -0.4%.

At 2 AM EST, European futures point to a higher open. US futures are higher. S&P +4. Dow +61. Nasdaq +8. Euro 1.0686. Dollar/yen 120.71. Pound 1.4761. Aussie dollar 0.7683. USD 98.87.

WTIC oil 43.72. Brent oil 54.48. Natural gas 2.83. Gold 1169. Silver 16.09. Copper 2.6515.

US Treasury yields are; 2-year 0.60%, 5-year 1.45%, 10-year 1.95%, 30-year 2.51%.

EU leaders are preparing for a second day of talks and are urging Greece to provide a clearer reform plan or risk running out of cash this month. Chancellor Merkel, PM Hollande and PM Tsipras split off for a mini summit to directly address Greece’s problems. Merkel says, “Greece must restore trust with its partners. Trust is needed urgently.” Tsipras says he is optimistic about the future. Greece will honor debt obligations that come due today but will need further emergency funding within the next week. Greece bond yields are moving higher. EU leaders are discussing an extension of the Russia sanctions through the end of the year that are set to end in July.

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

Fed Chair Yellen, Queen of the Doves, lives up to her reputation delaying the rate hikes creating a dovish environment and huge stock market gains. Spring begins with a robust stock market rally.

137 people are killed in Yemen mosques by ISIS Islamist radicals. 400 are injured from the three separate suicide explosions. Congressional investigators subpoena Hillary Clinton’s secret server so she will have to decide to turn over the machines to authorities within the next couple weeks or face further scrutiny.

After the smoke clears, the CPC put/call ratio drops to a one-month low at 0.81 and the CPCE is down to 0.57 both indicating market complacency and a potential market top forming in the days ahead. Ditto the VIX at 13.02 very subdued further verifying a relaxed attitude concerning the stock market. No one expects a market selloff to occur due to the ongoing central banker intervention so there is no need to buy protection. These are contrarian stock market indicators.

THURSDAY 3/19/15; Fed Aftermath; German Bund 0.17%; LEN; Philly Fed Survey; Leading Indicators; RUT All-Time Record High; NKE

Asian indexes follow the US lead trading higher across the board except for Japan due to the stronger yen. Dollar/yen 120.45. The NIKK ends down -0.4%. Exporters such as Nikon and SNE trade lower. The SPASX200 leaps +1.9% above 5950. New Zealand trades higher after the +3.5% year on year GDP is better than expected indicating the strongest growth in eight years. The KOSPI gains +0.4% but is held in check by weakness in Samsung Electronics.

The SSEC gains +0.2% and HSI +1.3%. The Shanghai Index continues printing new seven-year highs at 3586. Chinese railroads are strong. Airlines are weak. A Chinese aluminum sentiment index weakens for the first time in one year. CHL posts six consecutive quarterly profit drops. Over 5K factory workers continue to demonstrate against Nike and Reebok. Police are out in force to control the crowds. NKE reports earnings today after the closing bell in the States.

President Putin appears at one-year anniversary celebrations concerning the Crimea annexation. Putin stresses how Russia has regained its “historic roots” with the takeover of the critical port region. Conjecture remains about Putin’s disappearance but he appears healthier than a couple days ago. Putin comments that sanctions are hurting Russia but are “not fatal.” EU leaders are meeting in Brussels to discuss further sanctions against Russia but 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

decreases Nike profits. NKE runs +4% higher as trading continues. CTRP jumps +8% after reporting less of a loss than expected and top line in line. BK agrees to pay $714 million to US regulators to settle litigation concerning fraudulent Forex trading practices. New York Attorney General Schneiderman says Bank of New York Mellon “misled customers and traded at their expense.” Wall Street is corrupt.

Steel-maker AKS preannounces lower EPS than current projections and is whacked -6%. Drug-maker PRTA gains +42% on encouraging results for its Parkinson’s treatment. SEAS sails higher after SeaWorld appoints Joel Manby as CEO.  MFRM gains +4% after missing on EPS but beating on the top line; Mattress Firm will sleep well tonight.

A meeting of EU leaders in Brussels including Greece PM Tsipras, German Chancellor Merkel, EC Commissioner Jean-Claude Juncker, ECB President Draghi, France PM Hollande and Dutch FM and Eurogroup head Jeroen Dijsselbloem continues late into the evening. Greece requires emergency funding to stay afloat. Tsipras will also visit Merkel in Berlin on Monday.

Tuesday, March 17, 2015

WEDNESDAY 3/18/15; FDX; GIS; Germany’s “Blockupy” Protests; FOMC Rate Decision and Chair Yellen Press Conference; Yellen Creates Massive US Stock and Bond Rally; RUT All-Time Record High; Euro Tags 1.10; CTAS

At 10:30 AM Tokyo local time (9:30 PM EST Tuesday night in the States), Asian indexes are flat. Japanese exports are up more than expected which provides a boost to stocks. 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

TGT raises the minimum wage for all employees to $9/hour. The Federal minimum wage is $7.25/hour. CTAS gains +1% in AH trading after beating on EPS and matching the top line. Uniforms are an excellent indicator for the healthcare and manufacturing industries. GES jumps over +9% after beating on EPS but missing on the top line. Guess is making up for the -2.5% loss during the regular session. Furniture supplier MLHR posts a Q3 profit. JBL gains +1% after beating on top and bottom lines. WSM drops -4% after reporting earnings blaming the West Coast port slowdown on weak top line sales.

At 4:45 PM, euro 1.086. Dollar/yen 120.07. Pound 1.4969. WTIC oil 44.93. Brent oil 56.50. Natty 2.907. Gold 1169. Silver 16.01. Copper 2.62.

Treasury yields are; 2-year 0.557%, 5-year 1.39%, 10-year 1.92%, 30-year 2.51%.

TUESDAY 3/17/15; BOJ Decision; St Patrick’s Day; Israeli Election; FOMC Two-Day Meeting Begins; Housing Starts; RUT All-Time High; ORCL; ADBE; KWKA Bankruptcy; Israeli PM Netanyahu Declares Victory

Asian indexes follow the US lead rallying strongly across the board sans Hong Kong. The SPASX200 is up +1.6%. The RBA Minutes state the case for future easing but for now the central bank remains “patient.” The Aussie dollar lifts to 0.7659. The NIKK jumps +1% to 19437.

At the conclusion of the two-day BOJ meeting, Governor Kuroda leaves 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

The Israeli election concludes and exit polls are showing an extremely tight race either a 27-27 seat tie for the two majority parties in the 120-member Knesset, or, a slight lead for the Likud party at 28-27. The two parties vying for victory are incumbent PM Benjamin Netanyahu’s  Likud Party and opposition center-left Isaac Hertzog’s Zionist Union party. In a brash move, Netanyahu proclaims he has the votes to declare victory.

At 6 PM, the Israeli media agrees that Netanyahu likely won the election but it remains too close to call. In the States, the Hillary Clinton email scandal deepens where the former Secretary of State skirted the law and did not sign a separation agreement document as required that verifies she properly handled public documents on her exit from the position. The republican party are sharks in the water circling Clinton hoping to crush her presidential aspirations. Clinton keeps digging a deeper hole concerning her secret computer server. Democrats are increasingly boosting former vice president Al Gore as a potential presidential candidate replacing Clinton.

Sunday, March 15, 2015

MONDAY 3/16/15; DAX Prints Above 12K First Time Ever; Empire State Mfg Survey; Industrial Production; European and US Stocks Launch Higher

At 8 AM in Tokyo (7 AM Hong Kong time; 10 AM Sydney time; 7 PM EST Sunday evening in the US ), the global trading week is underway with Australian stocks down -0.4%. US futures begin on a slight down beat. S&P -2. Dow -18. Nasdaq -4. The euro drops below 1.05. Dollar/yen 121.38. Pound 1.4745. Aussie dollar 0.7630.

WTIC oil 43.85. Brent oil 53.34. Natural gas 2.70. Gold 1156. Silver 15.57. Copper 2.6640.

US Treasury yields are; 2-year 0.66%, 5-year 1.58%, 10-year 2.11%, 30-year 2.70%. Japan 10-year yield 0.41%.

Chinese Premier Li says policy tools are 

[Text is Redacted: Purchase March 2015-03 to Read the Complete Chronology]

After the closing bell, STEM reports a loss. The US debt ceiling limit is in play and Treasury Secretary Jack Lew begins taking extraordinary steps to keep the government operating until Congress can push the limit higher in the months ahead. Lawmakers continually spend taxpayer money with no accountability. The debt limit must be raised before September-October otherwise the US will hit a brick wall unable to pay its bills.