Best of the Week
Most Popular
1. US Housing Market House Prices Bull Market Trend Current State - Nadeem_Walayat
2.Gold and Silver End of Week Technical, CoT and Fundamental Status - Gary_Tanashian
3.Stock Market Dow Trend Forecast - April Update - Nadeem_Walayat
4.When Will the Stock Market’s Rally Stop? - Troy_Bombardia
5.Russia and China Intend to Drain the West of Its Gold - MoneyMetals
6.BAIDU (BIDU) - Top 10 Artificial Intelligence Stocks Investing To Profit from AI Mega-trend - Nadeem_Walayat
7.Stop Feeding the Chinese Empire - ‘Belt and Road’ Trojan Horse - Richard_Mills
8.Stock Market US China Trade War Panic! Trend Forecast May 2019 Update - Nadeem_Walayat
9.US China Trade Impasse Threatens US Lithium, Rare Earth Imports - Richard_Mills
10.How to Invest in AI Stocks to Profit from the Machine Intelligence Mega-trend - Nadeem_Walayat
Last 7 days
Silver Medium-Term Trend Analysis - 20th June 19
Gold Mining Stocks Waiting on This Chart - 20th June 19
A Key Gold Bull Market Signal - 20th June 19
Money Saving Kids Gardening Growing Giant Sunflowers Summer Fun - 20th June 19
Investing in APPLE (AAPL) to Profit From AI Machine Learning Stocks - 20th June 19
Small Cap Stocks May Lead A Market Rally - 20th June 19 -
Interest Rates Square Minus Zero - 20th June 19
Advice for Financing a Luxury Vehicle - 20th June 19
Stock Market Final Blow Off Top Just Hit… Next Week Comes the FIREWORKS - 20th June 19
US Dollar Rallies Off Support But Is This A Top Or Bottom? - 19th June 19
Most Income Investors Are Picking Up Nickels in Front of a Steamroller - 19th June 19
Is the Stock Market’s Volatility About to Spike? - 19th June 19
Facebook's Libra Crypto currency vs Bitcoin: Five Key Differences - 19th June 19
Fed May Trigger Wild Swing In Stock Index and Precious Metals - 19th June 19
How Long Do Land Rover Discovery Sport Brake Pads Last? - 19th June 19
Gold Golden 'Moment of Truth' Is Upon Us: $1,400-Plus or Not? - 18th June 19
Exceptional Times for Gold Warrant Special Attention - 18th June 19
The Stock Market Has Gone Nowhere and Volume is Low. What’s Next - 18th June 19
Silver Long-Term Trend Analysis - 18th June 19
IBM - Watson Deep Learning - AI Stocks Investing - Video - 18th June 19
Investors are Confident, Bullish and Buying Stocks, but… - 18th June 19
Gold and Silver Reversals – Impossible Not to Notice - 18th June 19
S&P 500 Stuck at 2,900, Still No Clear Direction - 17th June 19
Is Boris set to be the next Conservation leader? - 17th June 19
Clock’s Ticking on Your Chance to Profit from the Yield Curve Inversion - 17th June 19
Stock Market Rally Faltering? - 17th June 19
Johnson Vs Gove Tory Leadership Contest Grudge Match Betfair Betting - 17th June 19
Nasdaq Stock Index Prediction System Is Telling Us A Very Different Story - 17th June 19
King Dollar Rides Higher Creating Pressures On Foreign Economies - 17th June 19
Land Rover Discovery Sport Tailgate Not Working Problems Fix (70) - 17th June 19
Stock Market Outlook: is the S&P today just like 2007 or 2016? - 17th June 19
US China War - Thucydides Trap and gold - 16th June 19
Gold Stocks Bull Upleg Mounting - 16th June 19
Gold Price Seasonal Trend Analysis - Video - 16th June 19
Fethiye Market Fruit, Veg, Spices and Turkish Delight Tourist Shopping - 16th June 19
US Dollar Gold Trend Analysis - 15th June 19
Gold Stocks “Launch” is in Line With Fundamentals - 15th June 19
The Rise of Silver and Major Economic Decline - 15th June 19
Fire Insurance Claims: What Are the Things a Fire Claim Adjuster Does? - 15th June 19
How To Find A Trustworthy Casino? - 15th June 19
Boris Johnson Vs Michael Gove Tory Leadership Grudge Match - Video - 14th June 19
Gold and Silver, Precious Metals: T-Minus 3 Seconds To Liftoff! - 14th June 19
Silver Investing Trend Analysis - Video - 14th June 19
The American Dream Is Alive and Well - in China - 14th June 19
Keeping the Online Gaming Industry in Line - 14th June 19
How Acquisitions Affect Global Stocks - 14th June 19
Please Don’t Buy the Dip in Nvidia or Other Chip Stocks - 14th June 19
A Big Thing in Investor Education is Explainer Videos - 14th June 19
IRAN - The Next American War - 13th June 19
Boris Johnson Vs Michael Gove Tory Leadership Grudge Match Contest - 13th June 19
Top Best VPN Services You Can Choose For Your iPhone - 13th June 19
Tory Leadership Contest Betting Markets Forecast - Betfair - 13th June 19
US Stock Market Setting Up A Pennant Formation - 13th June 19
Which Stocks Will Lead The Cannabis Rebound? - 13th June 19

Market Oracle FREE Newsletter

Gold Price Trend Forecast Summer 2019

U.S. Debt Deal Reached, Republicans Got Nothing, Now 90 Days Until Next Crisis

Stock-Markets / Financial Markets 2013 Oct 17, 2013 - 05:21 PM GMT

By: PhilStockWorld

Stock-Markets

What idiocy!

As I told you yesterday, the damage is done. Extending the crisis past Christmas doesn't make it go away and the Dollar fell 1% today on the "great' news that we "fixed" the debt ceiling. So Congresses "fix" cost you 1% of EVERYTHING you EVER earning in your ENTIRE life. It's all worth 1% less now – happy?


If it took you 40 years to earn what you have, that's about 6 months of your life murdered by Government idiocy and, believe me, they are not done yet. As I warned yesterday, this may only be stage one of the decline of the American Empire – just like Rome, we have Senators constantly plotting against the Emperor while lining their own pockets and doing anything it takes to remain in power, rather than actually trying to do what's right for their country.

I was particularly disturbed this morning by a clip from the Daily Show which highlighted what's going on at the State Governemnt level with 26 GOP states refusing to cover millions of people who fall through the Medicare/Obamacare crack, which was meant to be covered by Federal Aid but GOP Governors, like Rick Perry, are refusing the aid – a political stand that is literally killing people!

In the interest of being "fair and blanced," here's a good Conservative cartoon from Investors.com, which, like almost all of the Financial Media, is a thinly-masked right-wing propaganda sheet. Still, this they can make good points in that, regardless of who you want to blame for Obama's inbility to magically completely reverse 8 years of Bush destruction in less than 4 years, there are still a TON of problems facing us that this debt fiasco only managed to distract us from:

Notice how they use the word "gravity" because it's a popular movie at the moment and, despite the fact that the cartoon has nothing to do with gravity, focus groups show it helps get your attention and focus groups are how we run the GOP, right? Speaking of how we run the GOP, congrats to Senate Minority Leader Mitch McConnell, who agreed to sell out for a $2.918Bn earmark for a dam project in his state – a 300% increase from the original $775M alloted. Now THAT's how you compromise, right?

Sen. Jeff Sessions (R-Ala.) called the provision an "abuse" of McConnell's position. "One of the tricks around here, one of the abuses around here, is you get a big bill that needs to go forward and needs to pass, and the people try to load it up with things that are important to them," Sessions told reporters. "In the long run, that's not good for the public."

That's right, as you can see from the picture on the left, AMC's hit series "The Walking Dead" is back! Joe from CNBC is a big proponent of the upcoming Zombie Apocalypse and it's the perfect scenario to justify the "grab all you can because the World is going to Hell anyway" attitude that passes for political "thought" these days.

Speaking of Walking Dead, China is looking a little scary, especially after IBM earnings show a 22% sales drop in our reddest of states.

There are already China anomalies popping up in the results of some of the biggest U.S. tech names. At Cisco last quarter, sales in India and Mexico were up double digits, Russia and Brazil were flat, but China was down 6 percent. Apple's business in mainland China was up only 5 percent in the June quarter, a startlingly low number given that it had been up 8 percent and 67 percent in the previous two. Don't expect any signs of a China turnaround until July, when their next rounds of stimulus kick in. Meanwhile, we'll be looking for signs of China strain in Apple and Cisco's reports over the next couple of weeks.

Because of IBM, China, that cartoon and the fact that yesterday's rally was way overdone – we shorted a couple of indexes agressively in yesterday's Member Chat with:

  • DIA Oct $152.50 puts at .55
  • Oil Futures (/CL) shorts at $102.50
  • Dow Futures (/YM) shorts at 15,200
  • TZA Nov $22 calls at $1.07 

Those were to replace our very successful Wednesday short positions which, thankfully, we had cashed out. We'll see how our new set winds up today but our simple premise was – so what? All this deal has done is avoid a MASSIVE crisis that never needed to happen.

Now we have to focus on everything else that's wrong with the economy…

- Phil

Click here for a free trial to Stock World Weekly.

www.philstockworld.com

Philip R. Davis is a founder of Phil's Stock World (www.philstockworld.com), a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders. Mr. Davis is a serial entrepreneur, having founded software company Accu-Title, a real estate title insurance software solution, and is also the President of the Delphi Consulting Corp., an M&A consulting firm that helps large and small companies obtain funding and close deals. He was also the founder of Accu-Search, a property data corporation that was sold to DataTrace in 2004 and Personality Plus, a precursor to eHarmony.com. Phil was a former editor of a UMass/Amherst humor magazine and it shows in his writing -- which is filled with colorful commentary along with very specific ideas on stock option purchases (Phil rarely holds actual stocks). Visit: Phil's Stock World (www.philstockworld.com)

© 2013 Copyright  PhilStockWorld - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

PhilStockWorld Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules