Mechanic wins $1 mil from Powerball…loses ticket…gets nothing even though Powerball knows he won!

Source: http://www.dailymail.co.uk/news/article-2998871/Mechanic-newborn-baby-won-1million-Powerball-prize-lost-not-ticket-despite-camera-footage-showed-purchase.html

More wicked action!

The wild swings of the past week continues as Monday received the upside of those swings. But it remains more important to look underneath the surface as the spit tape continues.

To be brief, we just wanted to highlight a few  main areas to overweight and look for proper breaks to the upside are :

Just about anything medical/healthcare/biotech/managed care.  A good number of  names continue to show leadership with quite a few names moving out yesterday. Keep in mind, many names are extended here.

A bunch of retail areas: auto parts, department stores, discounters, drug stores, supermarkets, restaurants, home improvement.

Semiconductors…especially the bigger growth names.

We think there is more points to be put on the scoreboard in these areas as they continue to show no let up. At this juncture, pullbacks are preferable but never know if pullbacks show up.

More rangebound nonsense!

MORE RANGEBOUND NONSENSE”
By Gary Kaltbaum
@GaryKaltbaum
garyk.com
Up 140 on Monday…down 330 on Tuesday…up 260 on Thursday…down 250 on Friday before a late save finishing down 146. Having fun yet? This is what you get when you have central banks going different ways with currencies making moves in weeks that usually dont happen in years. Yippee!
What’s far more important than this recent wild action is what we have been telling you for a while and that in spite of recent highs, over the 40% of the market remain in their own private bear market. Not much has changed on the bear side as we would continue to avoid just about everything commodity including energy,oil&gas, steel, copper, aluminum, coal, gold, silver and any thing you can drop on your toes and it hurts. On top of that, we remain bearish on bonds and interest rate sensitive areas like the reits and utilities. On top of that, we remain bearish on gaming, disk drives, machinery and now we can add in the defensive consumer areas like food, drugs, beverages, tobacco and household products to the yuck side. Do not forget, the euro vs the dollar continues to play out with the euro now beyond oversold with the dollar just the opposite. We suspect Wednesday’s assinine announcement by the Fed will be a catalyst for the next move. Amazingly, pundits are now pondering whether they are going to pull the word “patience” from their rhetoric. Like that really matters to Aunt Mary and Uncle Bob.
So while the major indices remain range-bound, you can see a lot is going on underneath the surface. As far as the majors, we hate saying it but we suspected we were going to see range-bound going back a few weeks. We thought this because of the split tape and until something gives, it’s going to remain that way.
One thing that has changed is the better performance by the small-caps in recent days. In fact, if the market decides to get a bid, the odds favor the small caps go topside first.
One area that remains in fine shape is the biotechs. As we have told you, that’s where the biggest froth is as over 130 companies have come public with NO SALES. Eventually, that will be the biggest of disasters but eventually is not here yet as they continue to have a bid. On top of biotechs, many retail areas remain just fine including drug stores, home improvement, department stores,apparel, restaurants and auto parts.
Just remember, no bear market in 6 years and not even a decent correction in over 2 years so be on guard if the trading range breaks to the downside as the one-sided trade on the buy side is just that…extremely one-sided.

Why I taught my sons never to lie!

                                                                                                                                                       “Why I taught my sons never to lie!”
Bear with me as there is a bigger point to make!
When my sons were younger, I made a point of having specific talks on specific subjects. One of the most important talks I ever had with them was on the subject of lying…more specifically, the downside of lying.
I simply explained to them that they should never lie…no in-betweens…just never lie. The most important part of the equation was that it was just wrong and usually never gets you anywhere.
I went on to explain to them the repercussions of lying.
Probably 90% of all lies will eventually be found out. It is just a matter of time. It also takes time and effort to cover up the lies.
When you lie, you usually give tells. You look down.You look left. You look right. You look everywhere except straight at your accuser. Most liars act the same.
When you lie and are called out on it, you will either try to use the sympathy card or the defiant card. Neither will work as people will see right through the obvious diversions.
When you earn the reputation as a liar, nothing you say going forward will be believed. Even when you are telling the truth, you will have doubters. One of the great Warren Buffett quotes is ” It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
When you lie, you affect relationships, both close and not so close. Those relationships are hard to earn back.
When you lie too much, you end up forgetting the lies and have to make up new ones to cover the initial lies.
THAT ALL SAID:
When you have a few moments, go check out the press conference Hillary Clinton held in the past week. It seems Mrs. Clinton never got a talk on this important subject as she failed on all counts and badly. In fact, it was downright amateurish. I taught my kids not to lie just so they would never act like or look like someone like Mrs. Clinton.
Just saying!

Something more important than the market!

We will have our normal in-depth market report over the weekend. We know yesterday was a good rebound day but something else is on our mind today.

Racists, racism, racist assclowns is still a problem. As a Jew, I know. I don’t dare publish some of the emails I receive. Maybe I should. But we are now all seeing a bigger problem…and that is using the few that are racists to shoot cops. Using the few to make hay…hear that Sharpton. Using the few to switch the conversation from cops being shot to justifications. For all this, we should all now worry that these, so far, isolated shootings of cops turns into something not so isolated. And then what?

What happens when our men and women in uniform no longer feel safe? What happens when they feel they have a target on their back? The specific problem is that the people that are running the country are not unequivocal in defending the people that defend us. President Obama is very good at coming out and saying the shootings are bad but also continues to use the “but” word. “But” I understand why people are upset…”but” I understand why. There should be no “buts” when it comes to the shootings of innocent men and women in uniforms just like there should be no “buts” when one does the wrong thing and harms an innocent civilian.

“Hands up, don’t shoot!” was a lie. A lie told by lieing witnesses which in turn was told by the usual ambulance chasing race hustlers and a lie then parroted by many…without the facts or any evidence in. It is amazing to see so many continue with these falsities even with the real truth in plain sight. Unfortunately, truth does not matter to those that want to score political points and make hay off of tragedies like this. They had better be careful what they wish for.

Not much to add on market!

Very little to add. More yuck in a bunch of areas with the Euro continuing to crumble.

Major indices that had broken above range have now tucked back into range like frightened turtles. Stocks that broke out of range are doing the same. Bear market areas simply worsen.

The potential good news is that every time markets have corrected between 5-10%, pixie dust showed up and away we go again. The jury remains out on this corrective work.

Mayweather vs Pacquiao the potential numbers!

Payday:

Mayweather $120 million
Pacquiao $80 million

Ticket prices (secondary market…so far)

Worst seat in the house $4,800
Middle of the road seat $15,000
Best seats in the house $30,000-$100,000

PPV COST $89.95 $99.98 HD

Previous record PPV buyers 2.4 million Mayweather vs De La Hoya
Previous record PPV dollars $150 million Mayweather vs Alvarez

Live gate $40 million…previous record of $20 million

We expect this fight to take in up to $500 million as the price is higher, the face value for tickets are higher and the number of buys will be higher. If you don’t have a hotel room yet, expect serious sticker shock!