Opening System will Start Next Weekend
Local Food a Good Idea & Economic Freedom
Sorry for the typo, this is an excellent idea for those who want to look at having a back-up for the future. But this idea should also be taken seriously in places that need to import food. The number one reason politicians have stated that Greece should remain in the Euro is that they have to import their food. This would eliminate the majority of that problem. I strongly recommend Greeks to look at this technology. It can also provie economic freedom from the EU.
Market Talk – January 5th, 2016
We have ended a busy week for equities with a mixed session for Asia and it was the Nikkei that was to spoil the party yet again! Closing the day down 1.3% this puts the Nikkei index return on the week at -5.9%. Had we not seen a large bounce at the close the losses would have been substantially more! This evening things are not looking any better either, as having seen the US employment numbers, the Nikkei Futures have lost an additional -1.9% in late US trading. Worth mentioning also is that Dealers continue to point at the currency as a cause but who is following who? Last seen late this evening is $/Yen trading at 116.90 (hi today 116.20). Shanghai and HSI were both, in comparison, very quiet. Shanghai finished down 0.6% whilst the HSI closed +0.6% higher.
In Europe most people were waiting for the US employment number which were a disappointment. Expected was +190k what we received was +151k and even then there was a revision to the December number from +292k to +262k. We did, however, see an improvement in the rate move from 5% to 4.9%, while the participation rate moved up to 62.7%.
All core European Indices were treading water until the numbers and then it all turned ugly. The DAX, CAC, and FTSE all traded lower in the afternoon session closing with losses of around 1% across the board.
The US market reacting negatively to the data did not look back and traded lower and lower as time drifted towards the weekend. With the NASDAQ leading the way (-3.4%), shares such as Apple, Amazon and Facebook all suffering in the sell-off. LinkedIn was the talk of the street having posted weak forward guidance, shares ended around 43% lower today. Dealers are concerned whether the FED was too optimistic in raising rates December last year and discussing the possibilities of a reverse gear! The volatility is still a talking point also this evening as we watch the VIX trading back-up at 24%. DOW and S+P closed -1.85% and -1.42% respectively.
In Europe most people were waiting for the US employment number which were a disappointment. Expected was +190k what we received was +151k and even then there was a revision to the December number from +292k to +262k. We did, however, see an improvement in the rate move from 5% to 4.9%, while the participation rate moved up to 62.7%.
All core European Indices were treading water until the numbers and then it all turned ugly. The DAX, CAC, and FTSE all traded lower in the afternoon session closing with losses of around 1% across the board.
The US market reacting negatively to the data did not look back and traded lower and lower as time drifted towards the weekend. With the NASDAQ leading the way (-3.4%), shares such as Apple, Amazon and Facebook all suffering in the sell-off. LinkedIn was the talk of the street having posted weak forward guidance, shares ended around 43% lower today. Dealers are concerned whether the FED was too optimistic in raising rates December last year and discussing the possibilities of a reverse gear! The volatility is still a talking point also this evening as we watch the VIX trading back-up at 24%. DOW and S+P closed -1.85% and -1.42% respectively.
US Bonds unfashionably had a quiet day (for an NFP’s Friday)! US 10’s closed unchanged at 1.84%. We did see a little weakness at the front end with 2’s and 5’s both losing 2bp each. In Germany 10’s closed 0.29% closing the spread 10’s/10’s at +155bp. Italy 10yr closed 1.55% (+2bp); Greece 10yr 9.33% (+8bp); Turkey 10yr closed 10.36% (+1bp) and UK 10yr Gilt closed 1.56% (unchanged). Talk on the street is that Russia is approaching banks for possible Bond issuance, Ukraine bonds are almost bid-less (3yr bonds were last heard to trade 10.25%). Dealers are starting to question some of the peripheral spreads – more on this next week.
Gold had a late rally to close the day up $15 at $1173 (just over 3% for the week).
The US Dollar Index (DXY) recovered some of yesterdays losses closing 0.5% higher today as it made ground against GBP, and Euro. Some of the EM currencies suffered but that is to be expected given the slide in oil again (-2.3%) to close $31.
Remember We Will Not Update Saturday or Sunday As We Migrate the Site
Trader Preview Update: Opening Pivot Number
Over the weekend, we will be adding the Opening Pivot Number for the trader preview version that is under review by WEC attendees.
This was written in the Dow as of January 29. It picked the high on February 1, which opened just below the number at 16453.63, signaling it would finish down, and closed at 16449.18 which was down from the previous close of 16466.3. It might not look dramatic, but that was the high, and the low thereafter reached the 15960.45 price level.
Here is what Socrates wrote:
Our number to watch for tomorrow’s opening will be 16657.34. We need an opening print above that number to maintain any upward momentum. Otherwise, we may see the market finish down by the close of trading. Caution is now advisable if we open beneath this level.
The Way of the Future
One of the more vital technological advancements has been developed locally in Philadelphia. They can grow all the necessary food without farmland from inside a warehouse that is completely free from genetic tinkering or chemical whatever. The owners of Metropolis Farms actually grow fresh produce all year long. Those interested in survival of the fittest, well here it is.
President Jack Griffin developed this technology and has been doing a bang-up job. It would probably not be a bad idea to set one up in a basement for the years ahead. As he explained, “The innovation here is density, as well as energy and water conservation.” Griffin continued, “We can grow more food in less space using less energy and water. The result is that I can replace 44,000 square feet with 36 square feet. When you hear those numbers, it kind of makes sense.”
This is the way of the future — fresh food coming from your basement.
Germany to Enforce a €5,000 Limit on Cash Transactions
The German people do not have to worry about their taxes rising because of the Greeks; the refugees are whom they should worry about. Now the German government is joining the rest of the crowd and preparing to move electronic. They will look at introducing a limit of €5,000 euros on any cash transaction to combat money laundering and financing terrorism. For thousands of years, no such limits on cash ever existed. The definition of money laundering is now simply hiding money from the government that they want.
Deputy Finance Minister, Michael Meister, said “the risk of terror financing and…the problem of how to clear up money-laundering offenses properly” necessitates the total collapse of freedom in a pretend free society.
Europe will indeed be the first major nation to move electronic. The same movement is unfolding in Asia, and of course, Argentina.
Hillary & Goldman Sachs: A 20+ Year Relationship
Hillary refuses to explain, no less release, transcripts of her “speeches” for Goldman Sachs. What they paid Hillary for just three speeches is more than Bernie Sanders’ entire net worth after a long career. Here she is at the groundbreaking ceremony for Goldman Sachs’ $2.1 billion steel and glass building, equipped with giant murals, opera-house ceilings, and a gym with over-achiever fitness classes.
Congress created the Liberty Bond program in March 2002 with $8 billion in tax-exempt funds to rebuild lower Manhattan after the 9/11 terrorist attacks. Of course, Goldman was not impacted by 9/11. Nonetheless, it managed to get in on the game and built a new building. The tax deal seemed very strange since it included a region that was not hit in 9/11.
Goldman paid a heap of money to avoid criminal fraud charges in its mortgage-back scam. Goldman said it has agreed to pay a $2.4 billion civil penalty, along with $875 million in cash and $1.8 billion in consumer relief.
Of course, the first Goldman Sachs CEO to become Secretary of the Treasury was Robert Rubin. The Clintons appointed him to that position. So, Hillary’s contacts with the firm go back more than 20 years.
Why Government Is Becoming the Enemy
The protest at Malheur National Wildlife Refuge over the government’s claim to land has ended in bloodshed. The attitude of the police has degenerated to the point that they pretend some law written by a lawyer in Washington is justification to kill citizens of the United States in a nonviolent protest. The FBI effectively just murdered one individual whom they have declined to even identify. The FBI special agent in charge, Greg Bretzing, said, “They had ample opportunity to leave the refuge peacefully.” He continued, “And as the FBI and our partners have clearly demonstrated, actions are not without consequences.”
Above is the FBI’s video of the incident.
Victoria Sharp was in the car that they began shooting at the driver. She has come out to explain what happened, saying that everyone in the car thought the FBI would just kill them there on the spot.
Unfortunately, they brainwash soldiers to just follow orders and kill in war without remorse of hesitation. That same mental state has been used to train those in law enforcement. It is becoming painfully obvious as they kill citizens in the blink of an eye in an unremorseful manner that is indistinguishable from war.
Thomas Jefferson included protection for government agents who murder in the Declaration of Independence, “For protecting them, by a mock Trial, from punishment for any Murders which they should commit on the Inhabitants of these States.” History repeats because the passions of man never change.
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