WSJ Breaks Bogus Story Attempting to Tie Flynn to Man Seeking Clinton Emails

You’re gonna love this ‘smoking gun’ story the WSJ just shilled — attempting to create another avenue for Robert Mueller to investigate.

Shane Harris should be ashamed of himself for such refuse.

Get this.

An 81 year old man named Peter Smith attempted to recover Hillary Clinton’s 30,000+ emails by scouring chat rooms and talking to hackers. The WSJ claims he might’ve emailed the Flynn’s once or twice — spoke highly of Flynn Jr., but ultimately was unsuccessful in finding the emails that Hillary erased from her server.

Wait there’s more.

Nah, just kidding. That’s all there is to it.

Here’s Chuck Todd talking to this animal Harris about his bullshit story.

Via WSJ:

Before the 2016 presidential election, a longtime Republican opposition researcher mounted an independent campaign to obtain emails he believed were stolen from Hillary Clinton’s private server, likely by Russian hackers.

In conversations with members of his circle and with others he tried to recruit to help him, the GOP operative, Peter W. Smith, implied he was working with retired Lt. Gen. Mike Flynn, at the time a senior adviser to then-candidate Donald Trump.

“He said, ‘I’m talking to Michael Flynn about this—if you find anything, can you let me know?’” said Eric York, a computer-security expert from Atlanta who searched hacker forums on Mr. Smith’s behalf for people who might have access to the emails.

Emails written by Mr. Smith and one of his associates show that his small group considered Mr. Flynn and his consulting company, Flynn Intel Group, to be allies in their quest.

What role, if any, Mr. Flynn may have played in Mr. Smith’s project is unclear. In an interview with The Wall Street Journal, Mr. Smith said he knew Mr. Flynn, but he never stated that Mr. Flynn was involved.

Mr. Smith said he worked independently and wasn’t part of the Trump campaign.

Mr. Smith passed away recently. Thank God he isn’t alive to learn about this nonsensical story.

I am a lucky man. I am entreated to a rare form of entertainment on a daily basis, one that always surprises me without fail.

During his first press conference since calling out ‘Psycho Joe’ and ‘Low-IQ, Bloody Face Brzezinski’, Trump announced a new pipeline to Mexico that would go, mind you, ‘right under the wall’ — effectively defecating on our nice Mexican partners. And, he also managed to squeeze in another ‘CNN fake news’ jab.

This is surreal.

Well, what are you waiting for? Get in.

Exodus isn’t flagging oversold for many semis yet, but it is flagging oversold for the main ETF, SMH — with flawless, peerless, stats to boot.

Observe. Here is the track record for our algorithms over a 1-10 day trading period. Out of 10 previous instances, we were proven correct all 10 times for an average return of 3.33%.

Here was the last oversold signal, May the 18th.

Out of all the semis subsectors, the equipment space has been hit the hardest, currently in correction territory — down by 10% over the past month. Here are the larger capped stocks in the industry.

NOTEWORTHY: Here is a look at the Exodus oscillator, which essentially takes the mean reversion signal to a visual level, compiling every stock in the industry to give you a look at what oversold looks like. Notice the peaks and valleys? That is not price action, but our mean reversion engines analyzing if the sector is overbought or oversold. I promise you, juxtapose it against price action and you will find a very impressive correlation.

My gut instincts suggest say away from semis. Then again, human emotion is subject to all sorts of errors, rooted in the rigors of our lives. Maybe my morning coffee sucked, soiling my perspective on everything from today’s workout to the dog pissing on my $10,000 rug to the price action in semis.

Nevertheless, the data is impressive.

NOTE: Here’s another ETF that’s oversold — inverse VIX — XIV.

UPDATE: Micron sees Q4 $1.73-1.87 vs $1.60 Capital IQ Consensus Estimate; sees revs $5.7-6.1 bln vs $5.63 bln Capital IQ Consensus Estimate

Technically, when the dollar weakens monetary policy is easing. Lower rates is conducive with a weaker dollar. The opposite is true when the Fed is undergoing a tightening program, such as now. This usually rings true, but not always.

The dollar index continues to slide, off by nearly 7% for the year. This is precisely what the Trump administration asked for. Well, they got it.

Euro vs Dollar

On the other hand, yields have been rising over the past month — countermanding the move in the dollar. I can’t make any sense of it.

The 2s and 10s are now at a 90bps spread, which is a positive side note for banks.

The positive spin is this. The weakening dollar is helping US exporters compete and the minor blip in rates is insignificant in the big scheme of things. If anything, the inflation in the yield spreads lends to an increase in profitability in the banking sector, permitting them to take a pole position in the market, snatching it from over-owned tech.

Maybe today’s sell off isn’t so bad after all. Consider the fact that markets have been infiltrated by untrained vagrants, mountebanks keenly fixed on a profit angle without a gameplan in place to deal with adverse conditions. Thus, we are seeing a flush out, coupled with a rotation into banks and under-owned oils.

Let’s see how the days will end. It’s not the end of the world just yet, unfortunately.

The tech heavy NASDAQ is leading the fray down the toilet bowl. The Coriolis Effect has affected a wide basket of sectors — with 80% of stocks lower for the day. None have been damaged more than high flying semis and tech stocks, however. The distribution is heavy and the pain for those who top ticked palatable.

Amidst the carnage, it’s important to take note of the mega cap stocks, since they’ve served as hubs of liquidity and profit for our beloved hedge fund industry. The entry into these stocks was extremely accommodative during periods of excess. However, if we’re entering into a summer lull, you will quickly find the funnel narrowing as traders take flight — serving as a noose of sorts for those desperate to get liquid and stem the bleeding.

According to Exodus, there are roughly 100 stocks lower by 2.5%+, whose market caps exceed $10b.

Some are attributing today’s sell off to a ‘rotation’ out of tech into banks and oils. This makes some sense, since the yield curve has recently widened from 78bps to 90bps; but the oil sector is beset by a horrible price of crude. If the price of WTI doesn’t continue bouncing, this entire rally in crude will be revoked inside of a few days, or less.

On the extreme upside is volatility, higher by 40%. That $10 level has been a level of support. In the big scheme of things, the $14 level is still extremely low.

Both UVXY and TVIX are higher, but not nearly as high as one would expect — given today’s monstrous spike in VIX.

“Do you find it odd that there’s been so much attention on the Trump campaign and the Trump associates and potential collusion with the Russians, when it’s really the Democrats who have deeper and stronger ties to Russia?” Bartiromo asked.

I know, the Nasdaq is down 100 and tech stocks are engulfed in flames. But how do you expect me to sit here and ignore this story? As a person who lives to ‘stir the pot’, this is the best timeline for me. All I have to do it sit back and watch the President of the United States talk shit all day, providing me with endless ways to trigger those opposed to him.

Just to recap today’s impeachable offense.

Trump tweeted to Joe Scarborough ( a never Trumper), and his soon to be wife Mika Brzezinski, these insane comments.

I heard poorly rated @Morning_Joe speaks badly of me (don't watch anymore). Then how come low I.Q. Crazy Mika, along with Psycho Joe, came..

— Donald J. Trump (@realDonaldTrump) June 29, 2017

…to Mar-a-Lago 3 nights in a row around New Year's Eve, and insisted on joining me. She was bleeding badly from a face-lift. I said no!

— Donald J. Trump (@realDonaldTrump) June 29, 2017

The response by Never Trumpers and the Hillbot brigade has been sheer unhinged outrage.

Dear @realDonaldTrump,

You are a pig.

Sincerely,

Bill Kristol https://t.co/2IG7yXmCs4

— Bill Kristol (@BillKristol) June 29, 2017

Here’s the statement by MSNBC.

Statement from MSNBC on the president's tweets this morning pic.twitter.com/xteFxl9791

— Bradd Jaffy (@BraddJaffy) June 29, 2017

Sen. Sasse

Please just stop. This isn't normal and it's beneath the dignity of your office.

— Ben Sasse (@BenSasse) June 29, 2017

Sen. Graham

Mr. President, your tweet was beneath the office and represents what is wrong with American politics, not the greatness of America.

— Lindsey Graham (@LindseyGrahamSC) June 29, 2017

Sen. Collins

This has to stop – we all have a job – 3 branches of gov’t and media. We don’t have to get along, but we must show respect and civility.

— Sen. Susan Collins (@SenatorCollins) June 29, 2017

Here was Paul Ryan’s response.

And finally, White House Press Secretary, Sara Huckabee Sanders, defended Trump’s tweets, saying “the President will not be bullied.’

If it weren’t for the banks being +2% today, this market would be down a lot more.

Tech stocks are cratering early on, down by more than 1.3%. Some of the biggest winners are, in fact, today’s biggest losers. Amongst them include SHOP, HUBS, WIX, NVDA.

Enough of the shit. Tech stocks are wayyyyyy over prices and the sector will get bludgeoned. On Jupiter’s Stone, I fucking promise you, sometime this year the tech sector will make you wish your mother had an abortion and never brought you into this wretched world.

Here are the big cap tech losers for today.

Tomorrow I’ll be readjusting my portfolio to conform with the best path to alpha. I’ve had some decent winners this week, including EHTH, GCAP and DLTH. We’re at an interesting fork in the road here, with both bonds and stocks lower for the day — offering little respite and safe quarters for traders trying to escape the maelstrom.

God willing, this whole ordeal gets sorted out by this afternoon, amidst a 3:30 ramp and we can lavish ourselves in the blue reveries of promise.

It’s unfortunate, but half of yesterday’s grandiose gains have been depleted from the matrix of the market. Goldman Sachs has taken them, along with your money, and deposited them into their vaults.

Good news, however, 33 banks ‘aced’ the Fed’s stress test — providing buoyancy to certain bank shares.

Here are today’s winners in the banking sector.

I wouldn’t worry all that much about this market. It’s merely shitposting, wasting time, like the President of the United States. Summer is here, expect nothing spectacular.

Ladies and gentlemen, you get the President you deserve. America has earned the right to have Trump in office, launching petty, personal, attacks on low rated talk show hosts — because that’s what we’ve become: gossip mongering bitches who enjoy drama.

The President of the United States just tweeted this.

I heard poorly rated @Morning_Joe speaks badly of me (don't watch anymore). Then how come low I.Q. Crazy Mika, along with Psycho Joe, came..

— Donald J. Trump (@realDonaldTrump) June 29, 2017

…to Mar-a-Lago 3 nights in a row around New Year's Eve, and insisted on joining me. She was bleeding badly from a face-lift. I said no!

— Donald J. Trump (@realDonaldTrump) June 29, 2017

In response, Mika tweeted this.

pic.twitter.com/8YhzcCUwM1

— Mika Brzezinski (@morningmika) June 29, 2017

Happy Thursday.