Goldman Sachs beat on earnings and revenue. Goldman reported $5.02 earnings per share for the quarter, beating the estimate of $4.17. Revenue also beat coming in at $8.33 billion during the quarter versus the $7.59 billion estimate.
Huntington Ingalls stock is running higher on what is one of the best seasonal plays of the year. Over the next 13 weeks, Huntington Ingalls Industries Inc. has on average historically risen by 18.3% based on the past 6 years of stock performance. Huntington Ingalls stock has risen higher in 6 of those 6 years over the next 13 week period, corresponding to a historical probability of 100%. Continue reading “Huntington Ingalls Stock Running Higher, Strong Seasonal Play”
Of course Democrats want huge tax increases. Tax increases cause expanding deadweight loss and ultimately contract economic growth. Democrats clearly want to crash the economy while President Trump is in office to make sure that he’s a one-term President only.
Of course Schiff works in the gold promotion industry and so it’s not surprising to hear all the ways Schiff interprets the news as being good for gold. He’s been wrong since 2012 when gold peaked but eventually he’ll be right again, at least for a little while.
Minus the gold bug doom and gloom spinning, let’s look at what’s really going on with the push to end the debt ceiling.
President Trump said he would think about working with Democrats to end the limit on the country’s borrowing. According to The Washington Post, Trump and Schumer have agreed to work on a plan to eliminate the debt ceiling.
President Trump told reporters on Thursday that “there are a lot of good reasons” to get rid of it.
Speaker of the House Paul Ryan, R-Wis., specifically has come out against eliminating the debt ceiling.
Republicans Dishonest About The Debt Ceiling
Republicans have been dishonest about the debt ceiling for many years. The debt ceiling has nothing to do with being fiscally responsible. In fact, it is just the opposite. Using the debt ceiling to control spending is like a corporation using Accounts Payable to control costs. Dumb, right? In a corporation, Accounts Payable writes the check and mails it to a vendor. It would be detrimental to the health of a corporation for the boss to tell Accounts Payable to stop writing checks and paying vendors as a way to control costs. Vendors would stop doing work for the corporation and the entire business would implode. A boss controls costs by making decisions BEFORE an invoice gets to Accounts Payable for payment.
Another analogy is declining to pay a credit card bill or agreeing to go to dinner and then arguing about whether you’re going to pay the bill, after you’ve already eaten.
Congress is dumb to threaten to not pay its bills as a means of controlling costs. It destabilizes the country and sends the message that it’s risky working for or doing business with the US government. The time to control costs is during the budget approval process and NOT after the debt has already been incurred.
The debt ceiling is hardly more than a public manipulation tool of Congressmen to fool voters into thinking they are trying to control costs by voting against raising the debt ceiling, while at the same time voting for the government programs that caused the ceiling to be hit in the first place!
When Republicans took back the House in 1995, they brought back the debt ceiling vote as a way to pressure members on spending. Republicans would waver back and forth on using the debt ceiling vote. Sometimes they’d use the budget procedure to wave it through, and then other times they’d require the vote. It’s silly because it’s just politics and grandstanding. I mean how effective has the debt ceiling really been considering we have $20 trillion in debt?
If Republicans really wanted to control spending then they would vote for budgetary and spending decisions that would balance the budget. If Republicans really wanted to reduce government spending they would do that because that’s where the money is spent.
Richard Gephardt, D-Mo. has proposed the ‘Gephardt rule,’ which does away with the need for a second debt ceiling vote to approve borrowing once Congress has already voted once to approve spending that inherently necessitates borrowing.
Peter Schiff doesn’t know what he’s talking about when he claims that President Trump is for big spending and even bigger government and that his working with Democrats to end the second debt ceiling vote is somehow proof of that. I’m not sure Schiff himself honestly believes that. I think Schiff is playing to his alternative-news audience which are primarily gold bugs. Any bit of news that can be spun to support some lofty $5,000 an ounce for gold prediction, is what Peter Schiff does and boy does he do it well.
Russia expels US diplomats in retaliation for Congress increasing sanctions against Russia last week. Let’s just get it out of the way. Congress is stupid. Congress can’t act to help Americans who are suffering under a collapsing ObamaCare. Congress can’t help out Americans who are paying too much in taxes. Congress can’t even act to help the failing infrastructure across this country.
Folks I’m on the verge of exercising my constitutional right to take up arms against my government. Alright so maybe that’s not a constitutional right but it should be one! I’m thinking of Thomas Jefferson saying, “a little rebellion now and then is a good thing.”
Sanctions never should have been put against Russia for Ukraine. John “traitor” McCain and others in Congress worked with George Soros and the Obama Administration and used NGOs to destabilize Ukraine and oust an elected leader. It is illegal for the US government to use tax payers money to overthrow an elected leader.
Those inside the US government did it to gain control of the oil pipelines in Crimea and to move NATO missiles into the country to point at Russia.
Ukraine is right on the doorstep of Russia. How would we feel if China used NGOs to overthrow the government of Canada or Mexico so that they could control the flow of oil from Canada into the US and point missiles at us from across the border?
President Trump Is a Colossal Failure On Dealing With Russia
President Trump should have ended sanctions against Russia and apologized for what the former Administration and those in Congress like John McCain had done. Instead, Trump got manipulated by the Establishment like a school boy going to the restroom without a hall pass.
Everyone wants to know how high can bitcoin will go in 2017 after the internet bubble like appreciation over the last few months. The search phrase how high bitcoin go 2017 has exploded higher over the last week.
So many people are still bashing bitcoin (BTC) today. I use to be a basher. I was proven wrong.
How High Bitcoin Go 2017
Bitcoin (BTC) can go a lot higher by the end of 2017. Most people I talk with our still in a pre-2016 mindset about BTC. You know, BTC is crazy and it’s not real money. My favorite is: it’s the currency of malware developers and so that makes me too afraid to buy it. With so many people still bearish on BTC, the market can’t possibly be in an irrational bubble.
I think BTC will hit $10,000 but not by the end of 2017. I prefer a more conservative guestimate of $4,000 by the end of 2017. My main reason for predicting that BTC will be higher at the end of the year than it is today is that the BTC boom from the mainstream media running stories last week about how $100 turned into $75 million in BTC hasn’t even hit the market yet. This is the first long-weekend that Americans will have to research BTC and to get the process started of buying it. The authentication process for websites like Coinbase take days if not a week or more to actually get signed up. Then an additional 2 to 4 days is required to move funds from a US bank account into a BTC wallet.
How High Bitcoin Go 2017 and Japan’s Yen-Bitcoin Carry Trade
BTC will keep going higher because the upward move is not being driven by speculators but instead by growing demand. Strong demand for BTC is coming from Japan and South Korea. Demand for BTC is soaring after Japan passed a law to accept BTC as a legal payment method which came in effect on April 1, 2017. Japan’s SoftBank is making big BTC investments with tens of millions of dollars in different BTC related companies. Japan is the first economy to adopt BTC at the large corporate level and that’s driving demand higher.
Think about what the people of Japan are doing. A major Japanese forex company is now letting people trade BTC and so there is a yen-bitcoin carry trade where you borrow yen at 0% interest rates and buy BTC. With the BOJ devaluing the yen, why would you want to hold yen when you could hold appreciating BTC?
How High Bitcoin Go 2017 and Beyond
Governments are increasingly looking at how to monitor BTC transactions. If governments are successful in their push for regulatory oversight of BTC transactions, we would see rapid mainstream adoption of BTC. Russia is adopting regulations on cryptocurrencies. The Deputy of the Russian Central Bank Olga Skorobogatova has called for virtual currencies to be treated as digital commodities. Russia is calling on its central bank to adopt regulations with a specific focus on tax, controls and accountability. What Russia wants to do is to make BTC transactions capable of being monitored by the government. If there’s a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations. If Russia is successful at bringing oversight to BTC, you could see Russia and many other countries adopt BTC. In fact, the reason the SEC did not approve a BTC ETF last month was due to lack of regulatory oversight.
Jeremy Liew, the first investor in Snap Inc., sets a price target on BTC of $500,000 by 2030. The mathematics behind Liew’s estimate are that currently there are 20 million BTC wallets provided by service providers like Coinbase and Blockchain. Liew expects the user base of BTC to grow 20 times in the next 13 years. If the user base grows to 400 million by 2030, that would put a price on BTC of about $500,000.
March 31, 2017: Sell TRC Companies for a monster +72% win and congratulations if you were able to make money on the trade. TRC Companies announced that it has entered into a definitive merger agreement with affiliates of New Mountain Partners IV, L.P., an investment fund managed by New Mountain Capital, LLC, a leading growth-oriented investment firm headquartered in New York, under which New Mountain will acquire TRC in an all cash transaction valued at $17.55 per share of common stock.
January 17, 2017: TRC Companies acquired the contract to serve as Program Administrator of New Jersey’s Clean Energy Program (NJCEP), which has provided more than $300 million annually in support to homeowners, businesses and government entities upgrading to high-efficiency and renewable energy technology.
All the staff who have been working for the prior NJCEP Administrator, Ameresco Inc. and its wholly owned subsidiary, Applied Energy Group Inc. (AEG), will be joining TRC. Financial terms of the transaction were not disclosed.
TRC and AEG anticipate the transition will be seamless, with the same team continuing in its existing role without interruption. TRC’s Energy Efficiency practice is a growing, national leader in the design and implementation of state energy efficiency programs and provides services similar to the administration of NJCEP in several other states.
November 28, 2016: Sidoti initiates coverage of TRC Companies with a Buy rating and a price target of $14.
TRC is a national engineering, consulting and construction management firm providing integrated services to the power, environmental, infrastructure and oil and gas markets. We serve a broad range of clients in government and industry, implementing complex projects from initial concept to operations.
Folks as traders we know better than anyone else that President Trump’s election has been great for the stock market. The problem is that President Trump has cited how the stock market has gone up by $3 trillion in value since his election. This has put a great big target on the stock market.
Powerful elites and crony capitalist CEO’s like Elon Musk that control a lot of money, now have a blueprint for how to take-down President Trump: take down the stock market.
President Trump only has a handful of Trump appointed officials working in government agencies. Most of the people working in government positions in the FBI, NSA, Department of Justice, are President Obama leftovers. This has created a dangerous situation of people who are not loyal to President Trump attempting to discredit and overthrow his administration at every chance they get.
We’ve already have had Michael Flynn spied on by the government and then that information was leaked to the mainstream media to discredit Michael Flynn and force him to resign. We’ve had the Obama Administration using the government to wiretap and spy on its political enemies in an attempt to discredit them. Now it seems like Flynn was told by establishment implants inside the White House that President Trump wanted him to resign when it turns out that President Trump never asked Michael Flynn to resign and he didn’t even know about Flynn’s resignation until after it happened!
President Trump needs to get his people in and the Obama traitors that are trying to sabotage his government out.
Folks the election of President Trump is not the end. It’s only the beginning. We are in a war with the globalist elite who want open borders, illegal immigration, and NAFTA and TPP like agreements at the expense of US workers.
People inside of the government are attempting a soft-coup inside the US. At some point the globalists will be using their immense wealth to take down the stock market. Now that President Trump is touting stock market behavior as a success, they will target the stock market to snatch that success away from President Trump. I wouldn’t be surprised to see a company like Citadel “hacked” which results in a flash crash of the stock market to get the selling started.
President Trump has to get his people in government and Obama’s globalist folks out. This now should be Trump’s #1 priority. President Trump needs his people that he trusts in as many positions as possible.
Folks a coup against President Trump could be taking place. Rogue elements within the US government wire-tapped then candidate Trump’s phones inside the Trump Tower.
Rogue elements inside the US government are log jamming and taking actions to undermine President Trump at every turn. I think we have enough evidence now to show a trend of a criminal bureaucracy, backed by elites, attempting to basically stage a silent-coup against President Trump.
For example, did you know that President Trump eliminated the ObamaCare penalty of penalizing employers and individuals $5,000 per employee for not getting ObamaCare? The mainstream media won’t even be honest enough to report that. The news won’t even report that the ObamaCare penalty is gone. That’s how corrupt the media is folks.
Fox News is part of the corrupt mainstream media and don’t fool yourself and think otherwise. Chris Wallace did a hit piece on President Trump basically accusing the President of lying on Twitter about how his phones were tapped. Chris Wallace left out the fact that two separate sources with links to the counter-intelligence community confirmed to Heat Street that the FBI sought, and was granted, a FISA court warrant in October. Wham! It’s over. If a FISA court warrant was granted last October 2016 to tap then candidate Trump’s computer and phone lines inside Trump Tower, then President Trump is correct in his tweet that his phones were in fact tapped by the Obama Administration! Yet mainstream media talking heads like Chris Wallace ignore this solid proof of President Trump’s claims and instead run the story that there’s no proof of what he’s claiming in his tweet.
Folks, in the Alex Jones show below, Alex focuses on this issue and others and talks about the silent-coup people inside the US government are attempting against President Trump. If they are successful at ousting President Trump, I expect a major stock market crash to take place.