Source: http://rss.news.yahoo.com/rss/economy
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Friday, July 19, 2013
Economy News Headlines - Yahoo! News
Options Trading - Using a Risk Reversal on Apple
This is a guest post from Marcus Holland. I don't endorse nor necessarily agree with the opinion and research expressed herein, and it is supplied as an OpEd piece only.
_______________________________________
Apple Stock (NYSE:AAPL) is trading slightly lower despite news that the company colluded with five major U.S. publishers to drive up the prices of e-books in the months ahead of the technology company entering the market in 2010.? Option volatility in the wake of this news, has declined slightly and sentiment surrounding the company has remained strong.
In a civil antitrust lawsuit, the Department of Justice claimed that Apple agreed with the 5 publishers in January 2010 to?allow them to increase prices for best sellers and new releases?in response to publisher Amazon.com $9.99 price point for those books on Amazon.com Inc.
The judge will likely schedule a hearing on a request by the Justice Department for injunctive relief, which could include requirements that Apple not enter into another agency agreement to sell e-books for a two-year period.
Despite the blow to Apple the stock technically remains sound after recently testing support near 390 per share.? Resistance on the stock is seen near the 50-day moving average near 433.? Momentum on the stock is gaining traction as the MACD has recently generated a buy signal.? This occurs when the spread (the 12-day moving average minus the 26-day moving average) crosses above the 9-day moving average of the spread.? The RSI (relative strength index) is printing in the middle of the neutral range near 50, well below the overbought levels of 70 and and above the oversold levels of 30.
Implied volatility on?AAPL?edged higher, prior to the release of the decision and ahead of earnings in the coming weeks.? The recent lows near 25% represent an excellent opportunity to purchase volatility, while levels near 45% reflect a robust place to sell volatility.? At the current levels near 30%,?options?traders who are bullish on the stock could use a risk reversal and use the skew on the puts to benefit from the structure.? The structure mitigates the effect of implied volatility on a directional play.
In a risk reversal the investor will purchase a call and use the proceeds of a sold put to finance the trade.? A trade that would allow an investor to earn theta is an August 450-390 risk reversal in which the investor collect 10s cents by purchasing the 450 call for $5.20 and selling the 390 put for $5.30.? By using recent?support?at $390, and investor has a good spot to purchase the stock if Apple?s stock turns lower.
Comments from Reggie on the fundamental side...
The Apple Profit Engine Has Stalled & Is Rolling Downhill
Apple is facing a shart decline in the margins of its top two value drivers.?May I also add that these two value drivers are 83% of Apple's revenues and an even greater portion of its profits. Such a drastic concentration in only two products who have reached their zenith is not a good thing!
Click the graphic once to view, twice to enlarge to printer quality...
Apple's Competition Is The Greatest It Has EVER Been!
Apple's competition is the greatest it has ever been, and features companies who are literally at the top of their game. We are talking a lot of companies, and at the top of a very difficiult game as well. Reference?What Sell Side Wall Street Doesn't Understand About Apple - It's Not The Leader Of The Post PC World!!!
Apple is Materially & Quickly Losing Global Market Share! Clear Indicators Of Permanent Downward Moves In Its Peer Group
Apple is rapidly losing global market share over and the trend is worsening. This has ALWAYS signaled the beginning of the end for its peers. Reference?Is Tim Cook Cooked? Market Share vs Profit Margin, part 2 - Follow What I Do, Not What I Say!
For those who don't subscribe and/or haven't already seen it, here is the video that tells (nearly) all about Apple, from beginning (Q3 2010) to end.
Of course, there is a point at which Apple is a good buy. After all, they have a lot going for them. The question du jour is, exactly what is that point??I refer my subscribers to the research documents below for the answers...?
Subscribers, download the Q3 2013 valuation reports (click here to subscribe).
The update from two months ago is also of value for those who haven't read it. It turns out that it was quite prescient!
?Apple 1Q2013 update - Pro & Institutional
(Technology)
(Technology)
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(1 vote)
Source: http://www.zerohedge.com/contributed/2013-07-18/options-trading-using-risk-reversal-apple
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Texas woman's missing husband found buried in yard
PELICAN BAY, Texas (AP) -- A 62-year-old widow was charged with murder after her husband was found buried in the front yard of their rural North Texas home, which authorities had searched three years ago after he was reported missing.
Neola Robinson is charged in the death of her husband Pleasant Ervin Robinson, 52, who was reported missing by his employer in May 2010 after he missed more than two weeks of work, according to documents filed in the case. The couple had been married about three years at the time.
Sgt. Lonny Haschel, a spokesman for the Texas Department of Public Safety, said Texas Rangers arrested Robinson on Saturday after new information came to light in the case. He declined to elaborate. The husband's remains were exhumed Tuesday from the yard of their mobile home in Pelican Bay, about 20 miles northwest of Fort Worth, Haschel said.
Robinson was being held in the Tarrant County Jail with bond set at $150,000. Online jail records listed no attorney for her.
No one else has been arrested and authorities have no other suspects, Haschel said.
Pleasant Ervin Robinson was last seen May 29, 2010, on a store security video in the Fort Worth suburb of Lake Worth buying food and mattresses, according to a search warrant affidavit filed in August 2010 and obtained Wednesday by The Associated Press. The warrant was to search the house for blood evidence, financial documents and DNA.
His wife went to the machine shop where he worked in early June and was shaking as she said, "He's gone. He's gone," saying that he packed up some belongings and left on May 31, 2010, the document said.
One of his friends told authorities that Neola Robinson was jealous of his female friends. She told one of his friends in May that if he came home, "he's going to be missing some body parts, or I'm going to kill him and I don't care if I go to prison," the document said.
On May 18, 2010, he removed money from the couple's joint checking account and opened a separate checking account by himself. Four days later, police responded to a domestic dispute at the house where Neola Robinson had locked her husband outside because he refused to give her money, the document said. Later that night, Neola Robinson went to a bar and told a mutual friend that she was going to kill her husband, the document said.
Officers searching the home in June 2010 found what appeared to be a large blood stain in the bathroom. The officer said the home was clean and the kitchen floor appeared to have been recently scrubbed, although the home was cluttered and dirty when he responded to the domestic dispute the previous month, according to the document.
Bank records show that activity continued on his personal bank account after he was reported missing, and Neola Robinson can be seen in a bank's ATM video and a store's security video using a debit card from his bank account, according to the 2010 affidavit.
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Thursday, July 18, 2013
Greentech Automotive EV Plant Marches On But Questions Remain ...
Greentech Automotive (GTA) is one of those electric car companies which may, or may not be, on the bubble, depending upon your perspective. They certainly seem to speak a good game, announcing yesterday that construction of a new ?Mississippi?production facility is entering Phase 2, the main building phase.? At the same time though, questions have been raised on whether or not they could be the next Coda Automotive.
First, the announcement. Greentech, known for its MyCar neighborhood electric vehicle and planned five passenger EV sedan in partnership with?Chinese automaker JAC, said that it so far has invested more than $6.6 million in its new plant to complete Phase 1 of the build out. This first step included a variety of on-site engineering and testing processes that ?were conducted in accordance with federal, state and local codes? and helped to address ?some unique geotechnical challenges due to the weak underlying soils in the Mississippi Delta.?
image via GTA
Phase 2, meanwhile, will include
the construction of GTA?s manufacturing facility, offices and meeting space in?Tunica, Mississippi. Construction is expected to continue through?December 2013. Vehicle production is expected to begin at the new facility by April 2014. GTA currently operates a pilot manufacturing facility in?Horn Lake, Mississippi, where it builds MyCar, a two-seat Neighborhood Electric Vehicle (NEV), and GTA?s new five-seat, All-Electric Sedan. Both vehicles produce zero emissions, provide a range of more than 100 miles per charge and can be recharged via a common 110V wall outlet, a 220V wall outlet or a fast-charging system.
Once completed, said?Charles Wang, chairman and CEO of GTA, the new facility is expected to have a?a production capacity of 30,000 vehicles per year. The big question here though ?- is there that much of a market for the vehicles it offers? Odds are stacked against it, especially given the high profile flame out of Coda Automotive, a once well regarded electric vehicle start up out of California which tried making a go of it with a re-engineered Chinese sedan. The end result? Recent bankruptcy.
GTA, as others have observed in green automotive media, looks as if it could be too good to be true. The market for neighborhood electric vehicles is really, really small, the company lacks any form of brand recognition and, oh yeah, Coda already tried this.
What are your thoughts on this? Is GTA pie in the sky, or does it actually have a shot at mirroring a shadow of the success the likes of Tesla Motors has seen? Leave us your comments below.
Source: http://www.earthtechling.com/2013/07/greentech-automotive-ev-plant-marches-on-but-questions-remain/
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China unlikely to affect plots: Hollywood director
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Zimmerman protesters raid LA store, stop freeway
LOS ANGELES (AP) ? Protesters ran through Los Angeles streets Monday night, breaking windows, attacking people on sidewalks and at one point raiding a Wal-Mart store, while others blocked a major freeway in the San Francisco Bay Area in the third night of demonstrations in California over George Zimmerman's Florida acquittal in the shooting death of Trayvon Martin.
Thirteen people were arrested after multiple acts of vandalism and several assaults in Los Angeles' Crenshaw District, Mayor Eric Garcetti and Police Chief Charlie Beck said at a news conference.
Garcetti and Beck didn't elaborate on the assaults or any injuries, but at least one man could be seen in the street with a head injury.
More than 300 officers were called to the scene and were at first slow to directly engage protesters in an attempt to allow a peaceful end to the demonstration, Beck said. But the chief said police would take a much stricter posture in the coming nights.
"This will not be allowed to continue," Beck said.
Several hundred mostly peaceful protesters gathered Monday night at Leimert Park southwest of downtown LA, many of them chanting, praying and singing.
But a smaller group of between 100 and 150 people splintered off and began blocking traffic on nearby Crenshaw Boulevard, some of them jumping on cars and breaking windows at liquor stores and fast food outlets.
Several protesters ran into a Wal-Mart store, where they knocked down displays before store security chased them out, and police began guarding the door.
Tonya Williams was shopping with her daughter when the protesters burst in and security briefly locked down the store.
"We thought we were going to be stuck in there," Williams said. "We saw the merchandise all thrown around. They had pulled the rack down, and there was merchandise all over the floor."
TV news helicopters showed some people kicking and punching others along the street, including two people sitting on a bus bench.
Police declared the gathering an unlawful assembly about three hours after it began, and most of the crowd left the street.
Garcetti, who returned early from an East Coast trip because of the demonstrations, praised the "overwhelming majority" who protested peacefully.
"We are a better city than what we have seen tonight in the hands of a few people," the mayor said.
In Oakland, dozens of demonstrators briefly blocked all lanes of Interstate 880 at the tail end of rush hour, stopping traffic in both directions for several minutes before lanes were cleared by authorities. Several protesters laid their bicycles on the ground in front of stopped cars.
"You've got to go. You will go to jail," one police officer shouted at demonstrators who were blocking traffic, the Oakland Tribune reported. However, police decided not to make arrests as the marchers, chanting "Justice for Trayvon Martin," were directed back to surface streets.
Later, another group tried to march up the onramp to Interstate 580 before being turned away by Oakland police and California Highway Patrol officers.
The freeway protesters broke off from a larger group organized via social media that gathered at Oakland City Hall about an hour earlier.
More than a half-dozen people were arrested on charges of vandalism and assault, both felony and misdemeanor, Oakland police spokeswoman Johnna Watson said.
Over the weekend, demonstrators in Oakland and Los Angeles blocked traffic and clashed with police in protests over a Florida jury's acquittal of neighborhood watch volunteer Zimmerman in the shooting death of the unarmed black teenager.
Police shot beanbag rounds and arrested six people ? including one on suspicion of assaulting an officer ? while breaking up relatively small demonstrations before dawn.
No injuries were reported to either demonstrators or officers.
Most demonstrations around the state were peaceful.
Democratic Sen. Barbara Boxer sent a letter Monday to U.S. Attorney General Eric Holder supporting the Justice Department decision to review the case to determine whether Martin's civil rights were violated.
"I respect the fact that the jury has spoken ... but I don't think this should be the last word," Boxer wrote in the letter.
Source: http://news.yahoo.com/zimmerman-protesters-raid-la-store-stop-freeway-072536291.html
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Wednesday, July 17, 2013
Gov?t Bureau ?Creating a Google Earth on Every Financial Transaction,?
Source: CNS News
The Consumer Financial Protection Bureau (CFPB) is looking to create a ?Google Earth? of every financial transaction of every American, Sen. Mike Enzi (R-WY) warned today in a Senate speech opposing confirmation of Richard Cordray as CFPB director.
?This bill (creating the CFPB)?was supposed to be about regulating Wall Street. Instead, it?s creating a Google Earth on every financial transaction.
That?s right: the government will be able to see every detail of your finances. Your permission ? not needed,? Sen. Enzi said.
?They can look right down to the tiny details of the time and place where you pulled cash out of an ATM,? Enzi warned.
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