Calls

Buying some SPY Calls for a trade- we look like we forming a bull flag- Not much going on so buying options

FACEBOOK

Man oh Man- Zuckerberg went Public when he knew facebook was on the decline on growth- Sorry for those who bought thinking it was the next GOOGLE. I think Facebook will be single digits in a year!!

Nothing

Well it has been a YO-YO summer. Futures are back to where they were Sunday night so we have gone nowhere all this week. Can we say Trading range!!!

1331

Bulls got to hold this 1331 area

US Economy Going From Bad to Worse: Roubini

A robust and self-sustaining U.S. recovery is not on the cards, and we should now expect below trend growth for many years to come, according to Nouriel Roubini, the economist famed for his bearish views. Economist Nouriel Roubini, founder of Roubini Global Economics. Roubini, best-known for calling the 2008 economic crisis, outlined five reasons the bulls have been wrong and argued that an American economic cold will lead the rest of the world to catch pneumonia in a post on the Project Syndicate website. "Even this year, the consensus got it wrong, expecting a recovery to annual GDP growth of better than 3 percent," the founder of Roubini Global Economics wrote. "And now, after getting the first half of 2012 wrong, many are repeating the fairy tale that a combination of lower oil prices, rising auto sales, recovering house prices, and a resurgence of U.S. manufacturing will boost growth in the second half of the year and fuel above-potential growth by 2013." Roubini believes the U.S. economy will slow further this year and next as expectations of the "fiscal cliff" keep spending and growth lower - and uncertainty about the outcome of the presidential election dogs markets. The fiscal cliff could knock 4.5 percent off 2013 growth if all tax cuts and transfer payments were allowed to expire and spending cuts where triggered, according to Roubini. "Of course, the drag will be much smaller, as tax increases and spending cuts will be much milder. But, even if the fiscal cliff turns out to be a mild growth bump - a mere 0.5 percent of GDP - and annual growth at the end of the year is just 1.5 percent, as seems likely, the fiscal drag will suffice to slow the economy to stall speed: a growth rate of barely 1 percent," he wrote. The U.S. consumer, which drives plenty of the global economy as well as the U.S., will not be able to keep spending when $1.4 billion worth of tax cuts and extended transfer payments come to an end according to Roubini. "In 2013, as transfer payments are phased out, however gradually, and as some tax cuts are allowed to expire, disposable income growth and consumption growth will slow. The U.S. will then face not only the direct effects of a fiscal drag, but also its indirect effect on private spending," he wrote. The problems in the euro zone, a slowdown in China and emerging markets, added to the chance that oil prices could be driven higher by tensions over Iran's nuclear program, will also add to America's economic woes, Roubini argued. He warned the Fed will not be able to ride to the rescue this time. "The U.S. Federal Reserve will carry out more quantitative easing this year, but it will be ineffective: long-term interest rates are already very low, and lowering them further would not boost spending," he wrote. "Indeed, the credit channel is frozen and velocity has collapsed, with banks hoarding increases in base money in the form of excess reserves. Moreover, the dollar is unlikely to weaken as other countries also carry out quantitative easing." Roubini also argued that earnings growth is now beginning to run out of steam, after buoying markets earlier in the economic cycle. The second-quarter earnings season has so far presented a mixed picture. "A significant equity-price correction could, in fact, be the force that in 2013 tips the US economy into outright contraction. And if the U.S. starts to sneeze again, the rest of the world - its immunity already weakened by Europe's malaise and emerging countries' slowdown - will catch pneumonia," he warned.

Huge Gap down

This is the reason I have been sitting on my hands! The news out of the Euro zone is highly volatile and thus we are affected by everything out of the area. Does this provide a bit of a buying opportunity? Maybe but I would be very careful as we are in the summer period when most funds and traders are on holidays.

Schiff Speaks!!!

According to CEO and Chief Global Strategist of Euro Pacific Capital Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse. Schiff, who famously warned investors about the housing and financial crisis in his 2007 book Crash Proof, says the Fed's palliative efforts during the housing meltdown have made the next crisis inevitable. "We've got a much bigger collapse coming, and not just of the markets but of the economy," Schiff says in the attached clip. "It's like what you're seeing in Europe right now, only worse." In this nightmare scenario detailed in The Real Crash: America's Coming Bankruptcy, the current economic pause is actually the beginning of a material slowdown or recession into year end. At that point, the Federal Reserve will unleash a third round of Quantitative Easing — weakening the dollar without jump-starting the economy. As a result of dollar weakness, import prices rise, pressing the margins of corporate America. Lower margins lead to heavy layoffs, sending millions of workers into unemployment during a time when they can least afford it. Banks fail, housing collapses, and taxes are raised in a futile effort to give the tapped-out government the capital to try yet more futile stimulus. "That's when it really is going to get interesting, because that's when we hit our real fiscal cliff, when we're going to have to slash — and I mean slash — government spending," says Schiff. Those cuts will not be at all unlike the draconian austerity measures in Greece, with programs like Social Security and Medicare being dramatically cut or possibly disappearing entirely. The easiest way to put it, is that everything you don't think could possibly happen in America will come to be. "Alternatively, we can bail everybody out, pretend we can print our way out of a crisis, and, instead, we have runaway inflation, or hyper-inflation, which is going to be far worse than the collapse we would have if we did the right thing and just let everything implode," he offers. So what should investors do to protect themselves? Schiff has three suggestions: 1. Get Out of Treasuries The U.S. dollar is going to get trashed in Schiff's scenario. Locking in a yield on a government 10-year bond of 1.5% is a paltry return in the first place. Should inflation tick up to even 5%, a level much lower than that seen in the early 1980s, bond owners would have 3.5% less buying power at the end of every year. If they go to sell the bond, they'll only find buyers at a much lower price than what they paid. 2. Own the Right Stocks With bonds and the dollar bearing the brunt of the pain, Schiff says stocks will outperform dramatically, provided you own the right ones. Exporters and multi-national corporations will benefit from a weak dollar. Better still would be to buy foreign stocks and avoid the U.S. entirely. 3. Buy Silver and Gold Schiff says the recent weakness in these precious metals is just a pause as we wait for the other shoe to drop. Most of those on Main Street haven't even taken positions yet in gold or silver. Once they start dropping bonds and looking for a place to hide, the price of these metals will soar.

Roubini: My 'Perfect Storm' Is Unfolding Now

"Dr. Doom" Nouriel Roubini, says the "perfect storm" scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China. In May, Roubini predicted four elements - stalling growth in the U.S., debt troubles in Europe, a slowdown in emerging markets, particularly China, and military conflict in Iran - would come together in to create a storm for the global economy in 2013. "(The) 2013 perfect storm scenario I wrote on months ago is unfolding," Roubini said on Twitter on Monday. Chinese inflation data released on Monday, suggested that the economy is cooling faster than expected, while employment data out of the U.S. on Friday indicated that jobs growth was tepid for a fourth straight month in June. Roubini said that unlike in 2008 when central banks had "policy bullets" to stimulate the global economy, this time around policymakers are "running out of rabbits to pull out of the hat." Policy easing moves by the European Central Bank (ECB), Bank of England (BoE) and the People's Bank of China (PBoC) last week did little to inspire confidence in global stock markets. "Levitational force of policy easing can only temporarily lift asset prices as gravitational forces of weaker fundamentals dominate over time," he said. Bill Smead, CEO of Smead Capital Management, agrees that there is little central banks can do arrest the global slowdown. Last week, he told CNBC that there is "virtually zero chance" that pump-priming by central banks will succeed, suggesting that policymakers should instead let the economic bust work itself through the system.

NFLX

MArket down NFLX UP!!!! Squeeze

NFLX

Gonzo on this one- Bought @ 71.28 now at $81.52 in two days. Small play so I will let it ride for now

NFLX

Can we say NETFLIX!!!!!!!!!!!

Small long term play

Going in for a very long term play so it is very small in NFLX- Think this stock has gotten beaten down too much but not much technicals yet so playing small

You can't trust the Big boys

Reuters) - U.S. energy regulators have subpoenaed JPMorgan Chase & Co twice in the past three months as part of an investigation into whether the bank manipulated power markets in California and the Midwest, the Financial Times reported on Tuesday. The Federal Energy Regulatory Commission (FERC) on Monday filed a petition in U.S. federal court to require JPMorgan to produce emails as part of a formal probe into JPMorgan power market bidding practices in those areas, the paper said. JPMorgan buys and sells electricity for its own account and others. The filing marked the first time the agency has revealed a formal probe into JPMorgan bidding practices, the paper said. FERC said the bank may have inflated electricity costs by at least $73 million. The documents also pushed into public view the legal maneuvering between the government and JPMorgan attorneys as the commission seeks 25 emails that the bank argues are privileged, the paper said. Officials at JPMorgan were not immediately available for comment.

Gold

Finally getting some positive trade signal on GOLD again. We didn't get down to my 1508 level but anywhere below 1540 was an excellent buy.

GOLDMAN call

Goldman out saying stocks will move slightly lower for 2012