STOCK MARKET WATCH -- Monday, 22 July 2013

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Monday, 22 July 2013[font color=black][/font]

SMW for 19 July 2013

AT THE CLOSING BELL ON 19 July 2013
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Dow Jones 15,543.74 -4.80 (-0.03%)
[font color=green]S&P 500 1,692.09 +2.72 (0.16%)
[font color=red]Nasdaq 3,587.61 -23.67 (-0.66%)


[font color=green]10 Year 2.49% -0.03 (-1.19%)
30 Year 3.58% -0.03 (-0.83%)[font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
Wall Street on Parade
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.










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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[Tansy_Gold]

1. Okay, everyone. Be nice to the substitute

Mr. Hotler is going to fill in for me while I'm on vacation, but I'll be back next week, and if I find out anyone gave the sub a hard time. . . . . .


hotler, you'll do fine!

[Demeter]

2. Avenging Angel on Duty

Anyone messes with Hotler will have to deal with ME. And I fight dirty.

I have utter confidence in Hotler.

[Fuddnik]

4. I'm making spitballs as we talk!

[Tansy_Gold]

10. I didn't even have to . . . . .

. . .. . .. read all the way to the far right of the screen.


I KNEW IT WAS YOU!

[kickysnana]

5. Aw geez. I was going to put a stink bomb in the closet and hide the black ink.

[Fuddnik]

6. Just so long as you don't flush cherry bombs down the toilet!

[kickysnana]

21. K

[DemReadingDU]

7. Much appreciation to our substitute!

Thanks hotler!

[Demeter]

3. TGI Monday! Never thought I'd say that

I was grossing myself out on the Weekend...sorry about that, folks.

[westerebus]

12. It could have been worse.

In your case I blame it on kilt withdrawal.

[Demeter]

13. I think you have diagnosed the problem

It's gonna be a crazy week, too.

[westerebus]

15. As people who know me say.

Crazy is what you do best.

I take that as high praise.

Then I do have a warped sense humor.

[bread_and_roses]

17. You're entitled

The pile-up did seem even more deranged (and deranging) even than usual last week/weekend.

[xchrom]

8. Everyone's Talking About This Huge Stampede Of Cash Rushing Into The Stock Market

http://www.businessinsider.com/everyones-talking-about-the-huge-stampede-of-cash-into-the-stock-market-2013-7

As the market sails to new highs, the floodgates have broken open.

Money is pouring like crazy into stocks, which is of course classic investor psychology. Nobody buys low. People like to buy high.

In Goldman Sachs' latest "Weekly Kickstart" note, strategist David Kostin relays the discussion the firm is having with clients. The discussions are all about retail fund flows, and the rush of money into stocks.

The 5% S&P 500 pullback in June did not derail strong flows into equities although the recent focus on Fed policy and potential for QE tapering has overshadowed an important shift in flows that appears to favor retail sponsorship of equities. Retail equity sponsorship is inflecting higher. This week the Goldman Sachs Rotation Index reached its highest point since late 2008, indicating that retail mutual fund flows have a higher risk appetite and bias towards equity funds.

The drivers of that shift have been $50 bn of outflows from taxable bond mutual funds and ETFs and $30 bn of flows into domestic equity funds since the start of June. During 2Q $28 bn of assets flowed into domestic equity funds vs. $27 bn into taxable bond funds. Those flows reflect strong relative outperformance of stocks versus bonds as the 10-year US Treasury bond posted its third straight quarter of negative total returns in 2Q. The Treasury has lagged the S&P 500 by 20% in 2013, and through June the S&P 500 information ratio is on pace for a 78th percentile performance since 1962.



Read more: http://www.businessinsider.com/everyones-talking-about-the-huge-stampede-of-cash-into-the-stock-market-2013-7#ixzz2Zm8bE3TT

[DemReadingDU]

14. Bagholders when the market crashes

[xchrom]

9. UBS settles US mortgage litigation

http://www.bbc.co.uk/news/business-23402147


UBS has reached an agreement with US housing agencies to settle claims it had mis-sold mortgage investments.

The Swiss bank said it had reached an agreement in principle with the Federal Housing Finance Agency (FHFA) over the investments sold between 2004 and 2007.

In its statement, UBS also said it expected its second-quarter net profits for shareholders to total 690m Swiss francs ($734m; £480m).

UBS set aside a total of 865m francs in the quarter to cover litigation.

[Demeter]

11. Not sure that's how it works

[xchrom]

16. !

[xchrom]

18. Berlin and the NSA: Questions Mount for Merkel's Chief of Staff

http://www.spiegel.de/international/germany/questions-about-deployment-of-us-spy-programs-rock-chancellery-a-912401.html

German Chancellor Angela Merkel had hoped to tune out of politics this week during her annual hiking holiday in northern Italy But that may prove difficult following the latest revelations in the spying scandal involving America's National Security Agency (NSA) and its mass surveillance of German communications.

Over the weekend, SPIEGEL reported on NSA documents seen by the magazine's journalists from the trove of data provided by whistleblower Edward Snowden, indicating not only that German intelligence agencies worked together with the NSA, but also that they deployed some of its tools -- even after Merkel became chancellor.

That, combined with indications that German intelligence agencies may have been playing fast and loose with data privacy laws in Germany, has the opposition foaming. "The latest media reports about the close relationship between German and American intelligence services confirm the impression that the German government either feigned ignorance, kept quiet about its complicity or that the intelligence agencies have gotten out of control," said Peer Steinbrück, the Social Democratic challenger for the Chancellery, said in a Monday statement.

"The most alarming news is that the government of Ms. Merkel appears to have made the interpretation of the G-10 law (which establishes the conditions under which surveillance of German citizens is permissible) more flexible in order to make it easer to provide protected data to foreign services," he added. "Now it has to be clear that the time of playing this issue down has passed."

[xchrom]

19. Sales of Existing Homes in U.S. Unexpectedly Decline{there's that word}

http://www.bloomberg.com/news/2013-07-22/sales-of-existing-homes-in-u-s-unexpectedly-decline.html

Sales of previously owned houses unexpectedly dropped in June, hurt by a lack of supply and rising mortgage rates that will slow the rebound in the U.S. real-estate market.

Purchases (ETSLTOTL) fell 1.2 percent to a 5.08 million annualized rate, the National Association of Realtors reported today in Washington. The median forecast of 79 economists surveyed by Bloomberg called for a 5.26 million pace. The pace of the demand was the second strongest since November 2009 following May’s downwardly revised 5.14 million rate.

The number of houses for sale at the end of last month was the fewest for any June since 2001 as rising prices depleted the number of cheaper houses on the market. Federal Reserve Chairman Ben S. Bernanke last week said housing was one of the bright spots for growth and added that policy makers will monitor the recent jump in interest rates to ensure it won’t derail the nascent recovery.

“What’s holding sales down is just that there’re just not a lot of homes for sale,” Patrick Newport, an economist at IHS Global Insight in Lexington, Massachusetts, said before the report. “We’re not expecting really strong numbers for the rest of the year even though the housing market is getting hot. What you’re seeing is this pent-up demand show up in higher prices, not in higher sales.” He projected a June sales rate of 5.12 million.

[xchrom]

20. McDonald’s Falls as Profit Trails Estimates

http://www.bloomberg.com/news/2013-07-22/mcdonald-s-falls-as-revenue-trails-estimates.html

McDonald’s Corp. (MCD) fell the most in nine months after posting second-quarter profit and revenue that trailed analysts’ estimates and saying economic weakness would hurt results for the remainder of the year.

McDonald’s slid 3 percent to $97.27 at 9:40 a.m. in New York after falling 3.2 percent for the biggest intraday drop since Oct. 19. The Oak Brook, Illinois-based company’s shares had gained 14 percent this year through July 19, while the Standard & Poor’s 500 Restaurants Index rose 17 percent.

Chief Executive Officer Donald Thompson has been trying to attract consumers with less expensive fare, such as Dollar Menu foods in the U.S. and combo meals in Europe. Sales at global stores open at least 13 months rose 1 percent in the quarter, matching the average estimate of analysts surveyed by Consensus Metrix. July same-store sales are projected to be unchanged from last year, Thompson said today in a statement.

“Based on recent sales trends, our results for the remainder of the year are expected to remain challenged,” he said.

[DemReadingDU]

22. Bad news is good news for the markets

breaking records again today, S&P nearly 1700!