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Apple is down 2%. The big gold ETF, GLD, is down 1.4%. These moves are happening on a day when the market is basically flat. It’s not an accident that they’re diving together. The reason is: During the immediate post-crisis era, gold and Apple were huge outperformers, that were uncorrelated to the day-to-day “risk on, risk off” regime that was dominating financial markets. Remember, investors are desperate to find uncorrelated assets that don’t just [...] From Dr. David Eifrig in Retirement Millionaire: Fluoride is making your children dumber… according to a 2012 study from Harvard. Fluoride has been poorly studied, but is marketed as a way to prevent tooth decay. Most toothpaste brands include fluoride, as do most municipal water supplies. According to the Harvard study, children who drank water with fluoride ended up with lower intelligence scores than children who didn’t. Researchers also linked fluoride drinking by [...] Gregor Peter‏@L0gg0l7 h Russian Market‏@russian_market7 h Russian Market‏@russian_market7 h
Italy PM Letta warns coalition allies as tension mounts SARTEANO, Italy (Reuters) – Italian Prime Minister Enrico Letta warned his center-right coalition partners on Sunday that the future of the government was at risk [...] Unable to afford soaring charges, almost a fifth of people have all but given up going to their dentist, the Sunday Express has discovered. There has been a surge in sales of dental kits at pharmacies including chemicals to whiten teeth. Experts say that up to 200,000 DIY dentists risk injuring themselves and missing out on potentially life-saving check-ups. Up to a third of adults no longer have an NHS dentist, according to [...] Rep. Ann Wagner on The Dana Show 5-8-13
OBAMA ORDERED “STAND DOWN” “After Defense Secretary Leon Panetta made the following statement about not deploying troops without the intel that says its a good idea, career military people began talking. What they had to say suggests someone in Washington needs to be fired, [...] AFP - Conservationists warned Monday that Hong Kong may lose its rare Chinese white dolphins, also known as pink dolphins for their unique colour, unless it takes urgent action against pollution and other threats. Their numbers in Hong Kong waters have fallen from an estimated 158 in 2003 to just 78 in 2011, with a further decline expected when figures for 2012 are released next month, said the Hong Kong Dolphin Conservation [...] The world’s most widely used insecticide is devastating dragonflies, snails and other water-based species, a groundbreaking Dutch study has revealed. On Monday, the insecticide and two others were banned for two yearsfrom use on some crops across the European Union, due to the risk posed to bees and other pollinators, on which many food crops rely. However, much tougher action in the form of a total worldwide ban is needed, according to the [...] Started foreclosure in 2009. Got a surprise 3000 check yesterday. Anyone else? The nation’s largest banks will begin sending payments this week to millions of Americans who may have been wrongfully foreclosed on during the housing crisis. A total of $3.6 billion in cash will be distributed to 4.2 million borrowers who lost their homes or were at risk of foreclosure, the Federal Reserve and the U.S. Comptroller of the Currency said Tuesday. [...] from FT:
After last week’s horrible unemployment numbers from Europe, some may be tempted to downplay the monthly US jobs report coming out this Friday. That would be a big mistake. The data will help shed light on four issues that are central to the wellbeing of both America and the global economy. First, some context. Almost five years after the global financial crisis began, western economies as a group still struggle [...] Rowena Mason Government experts believe there is still a risk of people contracting variant Creutzfeldt-Jakob Disease (vCJD) through blood transfusions, as about 30,000 Britons are likely to be carrying the brain-wasting illness in a dormant form — double the previous estimate. They warn the current total death toll of 176 from vCJD could rise more than five-fold as the infection has not been wiped out of the blood supply [...] Just when you commented “at least RT tells us the truth everybody else is afraid of!” here comes the story RT is afraid of. And for good reason. Despite all their promises that RT delivers the news others are afraid to report, Russia Today has been conspicuously avoiding the subject of the nationwide anti-Putin protests currently taking place throughout the country. What are they afraid of? Probably their lives. As pointed [...] UK study confirms the dangerous link between drinking alcohol, being overweight and liver disease
Being overweight and drinking alcohol dramatically increases the risk of developing fatty liver disease, according to a study presented at the International Liver Congress. A study of over 100,000 British women found that being [...] Rick Westhead Tensions are rising in the Korean Peninsula after South Korea’s foreign minister warned that North Korea is expected to conduct a missile launch Thursday, a development that has prompted South Korea and the U.S. to increase their military alerts levels. “Based on intelligence we and the Americans have collected, it’s highly likely that North Korea will launch a missile,” Foreign Minister Yun Byung-se told a parliamentary hearing [...] “Without Mentioning North Korea, a Chinese Call to Avoid ‘Chaos’ BOAO, China — In an indirect but clear reference to the North Korean crisis, China’s president, Xi Jinping, said Sunday that world peace should not be put at risk because of a single country. “No one should be allowed to throw a region and even the whole world into chaos for selfish gain,” Mr. Xi said in a speech at an annual regional [...] CHICAGO — Proposed legislation would make it illegal in Illinois for dogs to get behind the wheel of a car. Dogs in the driver’s seat — on their owners’ laps — is a dangerous but common habit, said state Rep. Dan Burke (D-Chicago), co-sponsor of the bill. “Because I travel, I can’t help but observe the number of people with dogs on their laps,” he said. “It is a public safety concern. If a [...] David Nakamura A bipartisan deal on immigration is at risk of stalling because of a worsening dispute over a new guest-worker program, exposing fault lines between crucial interest groups and threatening to delay the unveiling of a Senate bill early next month. The impasse has prompted a bitter round of name-calling between labor and business groups, both of whom accuse the other of imperiling comprehensive immigration reform. As the standoff has deteriorated, [...] Cyprus finally reached a deal with the EU on how to bail out its troubled banking system tonight.
Nonetheless, the events of the past week have likely shattered confidence in Cypriot banks. In a new piece, Moody’s analyst Sarah Carlson argues that the financial crisis in Cyprus “will have profound long-term negative consequences for the sovereign,” and that ”even in the best-case scenario, where the Cypriot parliament passes and implements measures that the euro area governments of the European [...] from FT: Beyond the headline-grabbing combination of a penny off a pint of beer and the partial creation of a British variant of Fannie and Freddie, there is a deeply-disturbing subtext to the fiscal arithmetic in Wednesday’s UK Budget. It reflects an admission from the Office for Budget Responsibility that the underlying growth rate of the UK may be weaker than had been previously assumed. True, the OBR’s central projections contain the [...] from FT:
Beyond the headline-grabbing combination of a penny off a pint of beer and the partial creation of a British variant of Fannie and Freddie, there is a deeply-disturbing subtext to the fiscal arithmetic in Wednesday’s UK Budget. It reflects an admission from the Office for Budget Responsibility that the underlying growth rate of the UK may be weaker than had been previously assumed. True, the OBR’s central projections contain the [...] Quantitative easing could cost the taxpayer £8bn, the Bank of England has warned in its first admission that the “money printing” programme may be unprofitable. by Philip Aldrick, The Telegraph: Policymakers had previously insisted they expected to make money on the £375bn of gilts bought through QE. But, in a study published on Thursday, the Bank conceded there were scenarios under which the Government would have to bear a loss by the end [...] It was a good week for the economy.
Even before yesterday’s Non-Farm Payrolls report, we reported that a lot of data was coming in very strong, suggesting at least that the expiration of the Payroll Tax Holiday was not hitting the economy as hard as some had feared. Prior tot he jobs report, we saw really nice numbers on ISM Manufacturing, ISM Services, consumer credit, and initial jobless claims. Goldman Sachs is starting to get excited and take note. Here’s [...] From LewRockwell.com: Sinkholes are common where the rock below the land surface is limestone, carbonate rock, salt beds, or rocks that can naturally be dissolved by ground water circulating through them. As the rock dissolves, spaces and caverns develop underground. Sinkholes are dramatic because the land usually stays intact for a while until the underground spaces just get too big. If there is not enough support for the land above the spaces then [...] |
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Stocks Are the Most Overbought in Four Years
by Phoenix Capital Research
Stocks are now beyond overbought. The market ramped on Tuesday (the 17th straight Tuesday rally by the way) because traders are now playing for Tuesday rallies.
The financial media is looking for any and all reasons to justify the move, but the fact is that the market had rallied for 16 straight Tuesdays before… so why not a 17th time?
Behind this backdrop things only worsen. The divergence between stocks and the [...]