Saturday, April 29, 2017

Africa Making In-Roads To Global Investment Community

Investors Have High Hopes for Ghana, Says Finance Minister

Ghana's finance minister says investors were optimistic in meetings with senior government officials who accompanied Vice President Mahamudu Bawumia to the World Bank spring meetings in Washington. In an interview with VOA, Ken Ofori-Atta said investors detected a new energy, and a sense of hope in a team that is focused on getting Ghana out of…

Funny, I Though They Were Already In One For About Three Years Now

Could China Be Close to a Banking Crisis?

This article originally appeared on The Conversation. A variety of indicators suggest that China has come perilously close to a banking crisis. So far, the government has managed to keep things in check. A state-led debt restructuring indicates Chinese officials have learnt some of the lessons of the bad loan crisis faced by state banks in…

The Escalation And Brinkmanship Continues

Tillerson calls for stiffer sanctions on North Korea as Pyongyang launches another missile

WASHINGTON — Secretary of State Rex Tillerson on Friday urged the United Nations Security Council to impose new economic sanctions on North Korea, warning of a "catastrophic" outcome if the world fails to block Pyongyang's rush to develop a nuclear warhead that it can put atop a long-range missile. In his debut speech at the U.N.,…

Friday, April 28, 2017

Trump Also Ignores Other Things Like Facts, Sound Advice, Geography, Weather Reports....I Could Go On

Trump’s Tax Cuts Ignore History and Arithmetic

It all started in December 1974, on Dick Cheney’s cocktail napkin. Four Republicans had gathered that night at a restaurant in Washington, D.C. and the conversation turned to economics and taxes. The group—Cheney, then the deputy White House chief of staff and the future vice president; Donald Rumsfeld, then the White House chief of staff and…

Great?

US, Mexico and Canada agree to renegotiate NAFTA

Washington (dpa) - The United States, Mexico and Canada have agreed to renegotiate the North American Free Trade Agreement (NAFTA), the White House said late Wednesday, amid reports that Washington was preparing to withdraw. During telephone conversations with Mexico's President Enrique Pena Nieto and Canada's Prime Minister Justin Trudeau, US President Donald Trump had "agreed not…

I've Been Warning About This For A While Now

Oil Deliciously Weak

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First off, wholly unrelated to this post, I’ve got to express amusement about the latest Trump flip-flop, which is the NAFTA switch. Yesterday, we were going to leave NAFTA. I wake up this morning and see that he’s changed his mind. Not that I care – – seriously, it matters hardly an iota to me – – but I think this guy’s got Gartman beat on flip-flopping by a Manhattan mile.

Now, as far as crude oil, I thought it might hammer out a bottom and try to claw its way back up to the low 50s, but the poor S.O.B. is such sorry shape that it couldn’t even manage to do that for more than a couple of sessions (see circle). I’m still short XOP and three energy stocks, but I’m sort of wondering if I should consider going long ERY again. Here’s the front month:
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If oil just keeps dropping, we could be setting ourselves up for a very interesting topping pattern that would blast prices lower. It isn’t the cleanest pattern around, but it isn’t bad, and a failure of March’s lows would do the trick.
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Nobody Really Believed The Bullishness Of Energy Anyway

Triple-Energy Bear Shines

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Crazy morning so far, but only because I’ve been dragged away from my computers to deal with other matters. Luckily, my ERY long (entered this morning) is doing well, and at long last the cup with handle pattern is complete. Go, oil, go!
0427-ERY

Thursday, April 27, 2017

Free Energy Minus Smog

New, cheap artificial photosynthesis scrubs the air and produces fuel

A research team from the University of Central Florida has found a way to trigger photosynthesis in an inexpensive synthetic material. The technology could be used to scrub the air clean and produce ‘solar' fuel from atmospheric CO2. The team's photoreactor, with a sliver of the MOF dangling inside. Image credits Bernard Wilchusky. Scientists the world…

All Of This Because Of A Mediocre Tax Plan And A French Election

Titillating Tax Tease

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It goes without saying that what has transpired in the market recently has bugged the holy hell out of me. Once again, it seems that a wallet stuff full of cash was resting on the boardwalk deck, and as we bears bent to grab it, a kid behind a corner yanked on the string and the wallet was gone.

Allow me to illustrate by way of the Russell 2000, which only last week looked beautifully poised to enter into a hellstorm of drop-i-tude:
0426-rut
And then, suddenly, based on the most-widely-expected result of a first round of an election from a country that was a superpower of the late 18th century but, let’s face it, really doesn’t mean much to U.S. corporate earnings, THIS happened:
0426-surge
So lots of charts got wrecked, and it threw my psyche into an undisciplined tailspin.
A perfect example is US Steel, which I shorted yesterday. However, as it garnered strength and started to show a loss, I threw my hands up and covered it. It wasn’t based on a stop. It wasn’t based on logic or a chart. It was based on wanting there to be no more pain from US Steel. As you probably know, symbol X is down about 20% this morning, and I have no position. So this is collateral damage from the goddamned French election, since my head is really hosed. One thin reed for the one or two bears left is the Japanese Yen, whose weakness has been a boon for

US equities. As the USD/JPY nears massive overhead supply, I believe it will reverse hard. And keep in mind that tonight, the Japanese Central Bank does their big monthly announcement and press conference, so that could move things.
0426-usd
What everyone’s got a boner about, apparently, is the newest, latest, greatest Trump Tax Plan. I seriously cannot believe how blinkered people must be to believe that he’s got some awesome plan which has a snowball’s chance in hell of becoming law. This guy has flip-flopped, back-pedaled, or wimped out on just about EVERY promise and initiative he’s made, and yet people still gobble it up.
Shut down the government? Build a wall? Invoke an active travel plan? Put Hillary on trial? GIve me a break. None of it has happened, and none of it will happen, whether you’re measuring with 100 days or 1000 days.

Anyway, these dogs aren’t going to walk themselves, but that’s where I see things right now.

Not That We Haven't Seen This Many Times Before, But It Is Getting Interesting

Small Caps Tag Long-Term Resistance

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Wednesday, April 26, 2017

Colonialism Re-branded?

Promoting pragmatic collaboration between Chinese and African SMEs

This year's China International Small and Medium Enterprises Fair, scheduled to be held in Guangdong province in October, will advance the comprehensive strategic partnership between China and Africa and promote the inclusive and sustainable development of SMEs in China and various countries, according to Xu Lejiang, vice-chairman of the organizing committee and vice-minister of industry and…

Self Sustainability Continues To Be Mainstay Of Chinese Energy Policy

China's wind power capacity continues to grow in Q1

BEIJING -- China's installed wind power capacity continued to grow in the first quarter this year, according to the National Energy Administration (NEA). China had 151 million kilowatts of installed wind power capacity as of the end of the first quarter, up 13 percent year on year. Provinces of Qinghai, Shaanxi, Henan and Hebei increased the…

Moeny And Responsibility Can Co-Exist

Responsible Business Week Showcases Companies Making a Positive Impact

Guest Author Amanda Mackenzie, Chief Executive, Business in the Community Business comes in for a lot of criticism, from excessive executive pay to how much corporation tax is paid, and there is a feeling that business should more accountable and trustworthy, the lack of which arguably contributed to some people’s decision to vote leave in the…

Buisness And Govnerments Continue To Make Inroads With Sustainable Energy

Clean Energy Could Halve Carbon Emissions By 2040: Report

If governments, investors and businesses around the world work together, starting immediately, to hasten the pace of transitioning to clean energy, it is possible to halve the planet’s carbon emissions by 2040, according to a report released Tuesday by the Energy Transitions Commission. Titled “Better energy, Greater prosperity,” the ETC report “sets out achievable pathways to…

Trump Seems To Be Making A Lot Of Retreats Lately

Trump backs off border wall fight for now, easing government shutdown threat

WASHINGTON — About that border wall with Mexico. President Donald Trump backed off demands that Congress fund his promised border wall with Mexico after political opposition threatened a government shutdown, averting what could have been an embarrassing moment Friday on the eve of marking his first 100 days in the White House. Trump's reversal was welcomed…

Yeah I'm Sure This Will Go Down Well, Especially WIth The Only Fat Person In All Of North Korea

US Nuclear Sub Arrives in S. Korea Amid N. Korean Threat

U.S. nuclear-powered submarine, the USS Michigan, arrived Tuesday for a port call in South Korea, and the navies of those two countries joined Japan in exercises in the waters west of the Korean peninsula amid heightened tensions with North Korea. The naval exercises are scheduled to last through Wednesday, the same day President Donald Trump has…

Tuesday, April 25, 2017

Wonderful, An Over-Extended Market Sets To Stretch Itself Even Further

Volatility Crash

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Everywhere you look – – green, green, green, lifetime highs, soaring charts, with one notable exception. Volatility, of course! The fear index $VIX has, in just 1.5 years, collapsed from 53.29 to almost the single digits. Indeed, there is only ONE time in the past decade it’s been even a little bit lower, and that was back on January 27th. This is about as low as it goes, folks.
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Crude (WTIC) For A Rebound, But Trend Remains Down

Crude Hammering a Bottom?

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My bearishness toward energy has been chilling quite a bit lately. As I mentioned, I sold my ERY long position on Friday (at a nice profit), and I’ve been reducing the quantity of my energy shorts. It’s kind of a shame, since this was sort of the last bastion of bearishness, but crude seems to be forming a hammer on its front month, and tomorrow morning’s inventory report might provide a relief rally, so I’d rather not be short the sector.
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Sunday, April 23, 2017

More Heavy Squalls Could Be Just Ahead But For Now The Bulls Have Come Out To Play

Trading Diary: U.S. steel sector does a complete about face

WASHINGTON, April 20, 2017 – After Wednesday's vicious market collapse, all's right with the world on Wall Street Thursday. A majority of sectors (save for defensive sectors like consumer staples and utilities) have done an about face today, bolstered by a number of positives, including President Trump's order to the Department of Commerce to open an…

Apocalypse 2008 Redux

IMF Urges Caution as Washington Eyes Slashing Regulations, Taxes

The International Monetary Fund said President Trump's plans to cut regulations and taxes might encourage companies to make risky investments of the kind that preceded the financial crisis in 2008. The comment came Wednesday in the newest edition of the IMF's Global Financial Stability Report, which also said the financial system has gotten more stable in…