Admin

The Bulls Push Back

Just when the (last few remaining) bears were enjoying some market wide liquidation, China apparently launched some stealth QE of their own reversing AUD/JPY and sending markets plowing over weak bears.  From Bloomberg:

  • CHINA’S PBOC STARTS 500B YUAN SLF TODAY, SINA.COM SAYS
  • PBOC PROVIDES 500B YUAN LIQUIDITY TO CHINA’S TOP 5 BANKS: SINA
  • PBOC PROVIDES 100B YUAN TO EACH BANK TODAY, TOMORROW WITH DURATION OF 3 MONTHS: SINA

According to Government Sachs

"This amount is roughly the same as a 50 bps cut to RRR for the whole banking system on a static basis.  Still, such an easing would be consistent with our expectation…

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Admin

eBays Big Step Into Advertising

When EBAY was blow torched this week after AAPL unveiled Apple Pay at their investor event on September 7th, I saw the knee-jerk fear that Apple Pay would take down PayPal as one to raise an eyebrow, however considering the possible number of iphone6 and Apple watch sales (because it won't be available on current Apple products) versus worldwide usage of PayPal, this would not something that would immediately destroy the EBAY name.  On Wednesday I jumped in on EBAY calls (cheap at that point) feeling the reaction was over done.

Booyah!  Was I glad today that I did.  Dumb luck is definitely better than no luck at all.

Not only are other market participants now beginning to question the depth of impact from Apple Pay (again only available on the new iPhone6 or Apple Watch), but…

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Admin

If The 10 Year Were A Stock

I'd be trading this bad boy to the long side.  In this seven year weekly chart, not only has it broken my three trend line rule, there was positive MACD convergence (as shorts began to massively cover) and the 200week SMA which was prior resistance, has now become support. 

It certainly appears that the "low" in low rates was in in 2013.

I should also note that the monthly chart is deeply oversold.  At some point, you simply run out of sellers.

I've long said that when in mortgage banking, we watched the 10yr. each week for direction of rates and we completely ignored the Fed raising or lowering rates.  They were a laggard; the 10yr was already there.

Yep.  If this were a stock, I'd be trading it long, buying at support or out of the short…

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Admin

The Ups And Downs Of Apple Pay

Forgetting your wallet at home may no longer be a problem when picking up prescriptions or incidentals, as the nation’s biggest drugstore chain Walgreens and other major retailers partner with Apple and its new mobile payment system. Apple’s new mobile payment system — Apple Pay — could certainly make life for consumers much easier. But the move also makes the iPhone a virtually indispensable — and invaluable –piece of property that will be even more vulnerable to security risks if lost, stolen or hacked.

Walgreens, Target, Staples, McDonald’s, Sephora, Starbucks, and Groupon are among the 12 retailers to accept Apple Pay in October.…

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Admin

If The Scots Divorce, It Could Easily Bode For More

Polls released this week showed for the first time that a majority – an extremely small majority, but a majority nonetheless – of Scots favor independence, although other polls suggest the no camp remains in the lead. A poll is not the election, which will be held Sept. 18, but it is still a warning that something extraordinary might happen very soon. The political union between Scotland and England might be abolished after 300 years. The implications of this are enormous and generally ignored.

Obviously, this raises a host of question about how such a divorce might take place, whether the expected time frame – divorce by 2016 – will be adhered to, and how state property might be divided. It also raises the question of Scottish foreign policy. Will Scotland remain in NATO? Will it have…

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Admin

Down Days Happen

On down days such as this, one could easily assume some profits are being taken ahead of the Alibaba IPO the third week of September.  Some will look for signs of a market top (as they nervously do each day).  We could also sit and ponder if the dollar strength is weighing or over seas tensions are bothering the market but in truth, it doesn't matter.

Best thing to do is to check your stops, adjust as necessary and take note of just "who" is holding up amongst the selling.  I'm not referring sectors per se or to laggards or beaten up names, but what one could consider leaders with more "room to run" and not being sold first by finds. Funds, after all, know more than we do.

Better to explain it, those who may be seeing selling BUT are stil holding up (green) as…

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