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apppro’s take for 08/31/2014 09:00 am EST
Damn it! This is NOT Healthy!
My Portfolio YTD
I am sick & tired of the media and so called financial experts who keep saying that periodic 1 to 3 day HFT micro crashes are “healthy” for the markets, or “needed” so the market can move higher. BULLSHIT! I find nothing healthy, no rather sickening for these periodic crashes. And WHY, why do we need them? WE DON’T! These sell offs are there ONLY because a few hedgies need their shorts covered or a few have been sitting in cash waiting for a cheaper price. You may notice in those charts that the ’length’ in days of the micro crashes are VERY close to the ’length’ in months it takes to recover back the loses! WTF? Meanwhile the rest of us suffer!
Everyone should rise up and scream that:
“It’s The Mentality Stupid”
STOP the INSANITY NOW!
apppro’s take for 08/23/2014 08:30 am EST
“Bigger Banks are Better” sign
During an interview yesterday from Jackson Hole Conference, Dennis Lockhart said just that! Consolidation in the banking system is happening now in my district and was needed to preserve the system; and that bigger banks are needed in today’s system.
I am still waiting for CNBC to put this part of Fed’s Dennis Lockhart’s interview with Steve Leisman on their website, so I can post that too. However, I think a certain Senator must have made phones calls not only to CNBC but to the Federal Reserve itself saying, “WTF are you guys talking about?? I’ve told you 1000 times that I want these banks that hurt my family when I was a child broken up! Do I have to sick Holder on you too?”
apppro’s take for 07/03/2014 04:30 pm EST
Conflict of Interest leading to #RIGGED?
I’m sure many of you watched the GoPro IPO this week. Some pop! It sure was a winner for those who for over a decade worked their butts off to create a nice product. Congrats to them, BUT this is not what I’m writing about. Rather, it’s about the vultures that surround the IPO and the media networks giving them platforms to do so. However, in this rant I am going 1 step further and the SEC and FCC and Congress really need to look into this.
OK, it’s no secret that so-called ‘commentators’ on CNBC, FOX, Bloomberg, etc. hype and front-run (for lack of a better phrase) and promote stocks that they own or are short or have option positions in or whatever. In and of itself I find this disgraceful. No way in heck should anyone be allowed to buy, sell, short, etc. a stock, and then have free reign to go on WORLD WIDE TV and push the heck out of their positions. There are never any fair disclosures, but even if there were it doesn’t matter – they say what they want anyway and the damage, so to speak is already done. Not only do listeners react to this (Just go back to when Cramer first started doing his show and how he had to warn people not to buy or sell when he talks!), but now we have #HFT ‘seeker’ algo’s listening to! For the past few weeks leading up to and now during the GoPro IPO, how many times – hundreds? – of times did not only the reporters mention GoPro, but so did these traders that disguise themselves as ‘commentators’. This is an outrage and why the SEC hasn’t stopped it is an outrage! #RIGGED
Fine, we’re all use to it, so it’s OK. Well, I’m NOT! I even had Twitter exchanges with a few of them. Some even admitted freely on TV– after it went public of course – that they had gotten in on the IPO and that they were flipping out. This was after weeks of hype! Again a disgrace!
However, this week I got a NEW REVELATION! The day of the IPO, during a segment on how much GoPro had popped and how much $money$ Venture Capitalist VC’s were making on the IPO; a female reporter (I won’t mention names.) said that even Comcast was NOW into VC investing. I was getting the distinct impression that she seemed to indicate that Comcast, the owner of NBCUniversal, CNBC, and a major cable company had used VC $ in GoPro, too! Wait a friggen’ moment! The company that owns CNBC who has been hyping GoPro for weeks MAY have been a VC in the company and had a huge stake in the IPO? WHAT?! Does no one else find this wrong? Does no one ask, “Where are the glass walls?” I find it bad enough that they cross promote their reality financial TV shows on CNBC, but come on people – THIS VC & IPO LINK REALLY STINKS AND IS WHAT I TRULY CALL #RIGGED!
Even if they were not in this specific IPO, what other IPO’s that CNBC has hyped was Comcast (Or any media outlet.) a VC in? I’m sure that this is perfectly legal but really >>> the SEC, Congress, and the rest of you do not find this at all disturbing?
#RIGGED! #RIGGED! #RIGGED! #RIGGED! #RIGGED! #RIGGED! #RIGGED! #RIGGED!
Side note: I did not include names and links cause like Dragnet “Names were changed to protect the innocent.” But any of you in the biz out there will know exactly whom I am referring to!
My “Fair Disclosure”: I have NO position in GoPro in anyway except watching with jealousy! And after the initial post above, I did find a list on Comcast VC companies. GoPro does not seem to be on the list: Comcast Ventures
HAPPY JULY 4TH
And heaven help us all, because on July 17th CNBC sponsors the World’s greatest example of “Front-running” and hype known to the financial world.
apppro’s take for 06/28/2014 09:30 am EST
The MUST read SEC letter!
Commissioner Daniel M. Gallagher
June 25, 2014
But the following quote is what really needs extra attention:
“Title VII could have addressed the issue of transparency with a simple and clear mandate for regulatory reporting. Such a mandate would have resulted in straightforward, smart regulation that we could have implemented four years ago. But instead, we continue to expend our resources to establish an entirely new regulatory regime – for five percent of the derivatives markets mind you – with extensive registration and compliance requirements. The rule we finalize today is rational and well-considered given the statutory mandate. The Dodd-Frank Act, however, as exemplified by Title VII, is misguided and will continue to distract this agency and other important arms of the government for years to come if we let it.”
REPEAL FinReg NOW!
apppro’s take for 06/21/2014 08:30 am EST
Friday’s close brought on a flurry in TwitLand (mostly by me I think-ugh) about this:
(Continued on page 2)
The Stock Room
blog Stocks, Homebuilders, & Bank Stocks on page 2.
blog ETF’s, Water, Airlines, Casino, & Gaming Stocks on page 3.
blog Alternative Energy & Stem Cell on page 4.
blog Rare Earth & Chinese Game on page 5.
News & Financial Resource links on page 6.
The Quote Room 20 minute delayed.
apppro’s comment thread on WSJ.com (click on activity tab)
A Twit’s Thread
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Main Slogan: “It’s The Mentality Stupid”
A SHORT-term mentality does NOT build bridges.
A SHORT-term mentality does NOT create jobs.
A SHORT-term mentality does NOT create prosperity.
A SHORT-term mentality creates NOTHING, but uncertainty, fear, angst, and hate.
Main Principle: “It’s NOT how much you make, BUT rather how LONG it took you to make it!”
STOP the INSANITY NOW! - #StIN
Revised Tax Rules:
1. Capital gains 5+ years* - 5% tax on capital gains
2. Capital gains 2 > 5 years* ** - 15% tax on capital gain
3. Capital gains 1 > 2 years* - 35% tax on capital gains
4. Capital gains 6 > 12 months - 45% tax on capital gains
5. Capital gains under <6 months - 55% tax on capital gains
6. Most critical of all — Institute a capital gains tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund.
*Quasi Buffett Rule > Anyone whose main source of ‘income’ (retired persons excluded) that comes directly from capital gains, should be taxed at never less than the 1>2 year 35% rate—no matter what the cg term length.
** Dividends are taxed at this level—15%.
Main Saying: Don’t blame the Fed… it’s not their fault we allowed a few SHORT-term traders/traitors to use QE $’s to CREATE ‘put spreads’ INSTEAD of CREATING JOBS!
OPERATION DIRECT DEPOSIT
Fed SELLS longer dated Treasury’s and uses that money to buy LOCAL STATE infrastructure bonds.
Lehman’s Principle: The confidence destruction of an entire entity based on SHORT-term re-evaluation of LONG-term holdings due to unrestricted RUMORmongering and GANGshorting! Basically, taking a 30-YEAR something and basing it on a 30-SECOND whatever! End Mark-To-Market M2M!
The 6 Golden Rules – Updated 06/01/13
1. Immediately, reinstate the Up-Tick Rule.
2. Crack down on naked short selling. Require stock certificate #'s when a short sale needs to be covered, including ETF’s.
a. Stop the shorting of ALL ETF’s. This is just legalized naked shorting—makes no sense.
3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility.
4. Have ALL ETF’s trade on a 20-minute delayed basis. Get these instruments of mass destruction back to what they were supposed to do: mimic mutual funds. NO pre or aftermarket trading.
5. End the insanity of high frequency trading #HFT. PULL THE PLUG NOW ON HFT!
6. Do something – ANYTHING – to reign in the insanity and out of control gambling of the options markets. (Note: My StIN 55% Cap Gains tax UNDER 6 months would solve this!)
“EXPORT THE CRAP OUT OF NATURAL GAS!” - Tax Plan
Þ Institute a 10% EXPORT TAX to be paid by the buyer at the point of export.
· Apply 8% DIRECTLY to paying down the deficit, ONLY.
· Apply 2% to help fund our Superfunds Cleanup.
· So that NG prices never go crazy, have that tax increase the higher NG gets. For example, if NG gets to $5.50 the tax increase to 20%, $7.50 the tax becomes 30%, ETC. Therefore the buyers wont’ want it and the prices will be held in check.
Truly the MOST disgraceful BUT truthful quote of not only 2012 but the last 10 years!
The Most DISGRACEFUL quote of 2012, so far!
The BEST quote of 2011
The Most DISGRACEFUL quote of 2011
The 2nd Most DISGRACEFUL quote of 2011
In the 2012 elections vote for:
NONE OF THE ABOVE Too late now I guess!