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    New Nothingness: Central Banks Are Powerless “They Should Go Away” Steen Jakobsen

    In a “Trading Floor” interview, Saxo Bank CIO and chief economist Steen Jakobsen, discusses the role of central banks in the global economy with Saxo Bank’s Michael McKenna. “Central banks can do nothing,” says Jakobsen. He calls the current central bank low to negative interest rate policies the “New Nothingness”. What follows is a guest post interview, courtesy of Steen Jakobsen, Michael McKenna, and the Saxo Bank “Trading Floor”. Original Link : Central Banks Can Do Nothing In guest post format, I have no block quotes or indents. I offer my comments at the end. Central Banks Can Do Nothing by Steen Jakobsen 2016 has seen...
    On May 18, 2016 / By
  • Finance 0

    Fake Rally Starting To Look Rather Naked

    For the past 5+ years, we have seen the banking crime syndicate maintaining an ABSOLUTE choke-hold over gold and silver markets, where despite the most bullish fundamentals in history, prices have ground steadily sideways-to-lower. During those years, we saw prices continually knocked lower, primarily any time some Fed-head passed wind…until this year, when (supposedly) gold (and silver?) have reverted to being back in “bull markets”. The born-again “bulls” of the mainstream media now even include notorious bullion-short, JPMorgan, gushing about how gold has entered “a new and very long bull market”...
    On May 18, 2016 / By
  • Finance 0

    APPY +$1766 On Gap And Go Setup

    Video Length: 00:07:56 Hey everyone! Another poweful day in the market with some massive movers. We had a 50% drop on MGT, dropping from a high of 5.60 to a low of 2.65.Just an incredible range! I said early on this morning that I wouldn’t be trading MGT because it was simply too risky. Instead I went for the fresh gapper.APPY was gapping up this morning on news that MGT took a 5% stake. This was a big of an unusual news piece!I haven’t seen a massive runner like MGT (see DGLY AQXP KBIO, etc), take a stake in another company during the run. Unfortunately for APPY, the headline came out on the same day that MGT took a nose dive. This morni...
    On May 18, 2016 / By
  • Finance 0

    Daily Charts – Noisy Fed

    The big tickle today was the Fed minutes release at 2PM. The minutes caused the markets to rethink their stance on interest rates after the very poor 1Q GDP number, and the weak employment numbers. The Fed seems inclined to seriously consider raising rates by 25 bp at their June meeting.  This caused stocks to drop, the dollar to rally, and gold and silver to decline. This is the Fed making noise for the most part.  I have places that I need to be and will most likely not post again today. Have a pleasant evening.  ...
    On May 18, 2016 / By
  • Finance 0

    Homebuilder ETFs To Buy On Upbeat Data

    After being stalled in the first quarter, the housing market started to show signs of a spring rebound. This is especially true given that new home construction and building permits rebounded in April, indicating that the U.S. economy is again gaining steam. U.S. housing starts climbed 6.6% to a seasonally adjusted annual rate of 1.17 million homes and much higher than the Reuters expectation of 1.13 million. The uptick in construction activity was broad-based with increases of 3.3% in single-family houses, and 10.7% in multi-family houses, including apartments and condominiums. Meanwhile, new applications for building permits, a construction...
    On May 18, 2016 / By
  • Finance 0

    FINRA Warns Investors To Beware Of Shiny New Objects

    Most of us know what probation feels like. We’ve had jobs where we’ve been told “for the next so-and-so months, you’ll be on probation.” Translation: Don’t mess up. Don’t come into work mid-morning. Don’t take three-hour lunches. Don’t ask to take a week off to visit your elderly aunt in Cancún. And do your damn job. I thought I’d never get to say this: Equity crowdfunding has begun. Startups are already raising money from everybody – not just the moneyed – under the new equity crowdfunding rules. It’s a new ball game. New rules. New opportunities. Exciting? Sure. But the newness of equity crowdfunding also means it...
    On May 18, 2016 / By
  • Finance 0

    Foreign Central Banks Jettisoning US Debt At Alarming Pace; Buying Gold

    Continuing a trend that started last year, central banks around the world are dumping US debt at a record pace. Central banks sold off a net $17 billion in US Treasury bonds in March. Sales set a record in January, hitting $57 billion. China, Russia, and Brazil led the way, each dumping at least $1 billion in US debt in March alone. So far in 2016, global central banks have jettisoned $123 billion in US debt. Last year, they sold off $226 billion. According to the Treasury Department, central banks are selling US Treasuries at a pace not seen since at least 1978. Once the biggest buyer of US debt, China is now selling Treasuries at what CNN...
    On May 18, 2016 / By
  • Finance 0

    Hope For A Rate Hike Dumps On Fears Of A Rate Hike

    The last two days of trading has been quite a head-scratcher. Yesterday we sold off on news that there would be an increased chance of further rate hikes this year, today, prior to the FOMC Minutes being released we rallied on the same news, banks in particular. Following the FOMC Minutes that priced in a certain rate hike before years end, the market dumps the entire day’s rally.  Don’t worry, I’m sure we’ll find a way to break out to new all-time highs by the end of the day (do you sense the sarcasm?).  In case you wanted to see the FOMC Minutes, well here they are – read yourself to sleep.  Information rece...
    On May 18, 2016 / By
  • Finance 0

    Tesla Drives Higher After Goldman Says Buy Following Pullback

    Tesla Motors (TSLA) shares are rallying after Goldman Sachs upgraded the electric vehicle maker’s stock, saying that its current valuation is not pricing in the company’s “disruptive potential.” BUY AFTER PULLBACK: After Tesla’s stock tumbled 23% in the wake of the company’s launch of its “mass market” Model 3 sedan, the shares are “not fully capturing the company’s disruptive potential,” wrote Goldman analyst Patrick Archambault. Tesla has received more orders for the Model 3 than Archambault had expected, and the risk of a recession in the U.S. appear to have diminished in re...
    On May 18, 2016 / By
  • Finance 0

    FOMC Minutes Show Cornered Fed “Likely” To Hike Rates In June

    The supposedly dovish April FOMC statement – as global fears fell and turned domestically – has left bonds and bullion the winners and stocks the losers as investors lose faith in The Fed’s forecast and economic promises. Today’s FOMC meeting minutes suggest an increasingly cornered Fed will pull the trigger iun June with member disagreements brewing… *MOST FED OFFICIALS SAW JUNE HIKE `LIKELY’ IF ECONOMY WARRANTED *FED: RANGE OF VIEWS ON WHETHER DATA WOULD SUPPORT JUNE HIKE Of course, no matter what narrative the market perceives from these minutes, tomorrow’s speeches by Dudley and Fischer (who...
    On May 18, 2016 / By