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Mexican Peso Soars After Ross Says it Will Rebound ‘Quite A Lot’ if ‘Sensible’ Trade Deal Met

Fri Mar 3, 2017 8:37am EST 9

In a CNBC interview this morning, Commerce Sec. Wilbur Ross reaffirmed Trump’s border tax plan, saying that something like that was needed to balance the budget. Moreover, he was somewhat combative over the idea that the market would figure things out via forex market exchange rates — rendering any border tax uselessness because the peso would simply fall to make up the difference.

“We need to do something to balance the budget,” he said, while conceding he is “skeptical” of some of the arguments put forth by advocates of the tax who say that currency appreciation would offset the cost increases that would come with the levy.

“I’m a little skeptical about the theory that there’s a totally free lunch and that the markets will absorb everything, but we do need something to fill that hole,” he said.

Ross reaffirmed his commitment to protecting American jobs — saying that he’d be tough on trade, first focusing on NAFTA.

“We’ll be aggressive on trade because we know that deals that have been made historically have resulted in the great loss of manufacturing jobs, a great amount of closed manufacturing businesses,” he said. “We don’t want that to continue.”

“The first on our agenda is Nafta because we think it makes sense to solidify your own neighborhood first,” he said.
Making sure other countries follow the terms of trade deals also will be a major task for him as the 79-year-old businessman gets further into the job.

Lastly, he’all be working on ways to enforce trade deals.

“In the next week or so you’re going to start to see a lot more out of us on enforcement,” Ross said. “I think it’s ridiculous to go to all the trouble to bring a trade case, win it and not enforce it against the other party. We will be a very strong enforcer of it.”

“Many of these were put in by executive orders and agency rules and those wouldn’t require acts of Congress” to repeal, he said. “So we are up to our eyeballs to try to make sure we identify all of the problems.”

Clips below

As a result, the peso is skyrocketing v the dollar, up more than 1.5%. My best guess is the market is viewing the remarks by Ross as pragmatic, less Trump styled fire and brimstone, more ‘let’s get a trade deal done that makes sense.’

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Russian Foreign Ministry Spokeswoman to CNN: ‘Stop Spreading Lies and Fake News’

Thu Mar 2, 2017 9:57pm EST 15

Russia’s outspoken foreign ministry spokeswoman, Maria Zakharova, had some choice words for CNN — after being confronted by their reporters over the AG Sessions’ hysteria. In a prepared statement, she called the event ‘media vandalism’ and a ‘disgrace’ — suggesting the US media is down in the depths of depravity and deceit.

She stated the American media had “cross(ed) the line far beyond the professional ethics and their competence. They accuse and judge by simply fabricating false information.”

“I have a question: is it rock bottom, which the US media has reached, or is there an even greater depth for them to dive?” Zakharova said.

“The things that the US media affords itself to report are just an attempt at… a total disinformation of the public in America and worldwide,” Zakharova explained, adding the US audience is, of course, the main target.

During the exchange, which was caught on camera and posted below, she laid into CNN — asking them to ‘stop spreading lies and fake news.’

‘Stop spreading fake news’, cuckburgers.

Watch.

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Russia Responds to Democrats’ Russian Hysteria: ‘McCarthyism’, ‘Media Vandalism’, ‘Borderless Paranoia’

Thu Mar 2, 2017 9:39pm EST 8

The latest chimp out by the democrat-media complex over Sessions meeting with a Russian Ambassador has caused some to look completely ridiculous — such as Claire McCaskill — who emphatically stated that she never, ever, met with a Russian Ambassador while working for the armed services committee, ever.

The internet doesn’t forget.

The NY Times even ran with the McCaskill lie and then deleted it, on the low, thinking no one was paying attention. Wrong again.

The response by our good friends in Moscow has been mixed, with some diplomatic statements, while some of the more outspoken one’s laid waste to democratic paranoia and hysteria — which is continung to drive a wedge between the two super nuclear powers.

Peskov argued it was normal for an ambassador to meet with officials and lawmakers, adding that “the more such meetings an ambassador has, the more efficient his work is.”

Asked if the accusations against Sessions smacked of McCarthyism, he answered cautiously that it’s not the Kremlin’s job to make judgments about U.S. domestic policy.

Peskov described the reaction to the news of the Sessions’ meetings as “an emotional atmosphere leading to resistance to the idea of any U.S.-Russia dialogue.”

“The negative effect for the idea to develop at least some dialogue with Russia is evident,” he added.

Foreign Ministry spokeswoman Maria Zakharova, was more combative, denouncing what she described as the U.S. “media vandalism.”

“Let me open a military secret for you: It’s part of the diplomatic job to have contacts in the country they are posted to,” she said sarcastically. “It’s their obligation to meet with officials and members of the political establishment.”

Zakharova also drew a literary allusion to George Orwell’s “1984.”

“The media in the United States have become such a Big Brother, moving far beyond professional ethics and their own competence, raising accusations and passing judgments by fabricating false information,” she said.

Alexei Pushkov, the head of the information policy committee in the upper house of the Russian parliament, described Democrats’ demands for Sessions’ resignation as a “borderless paranoia.”

“Hysteria in the U.S. has driven politicians into a trap,” Pushkov tweeted. “You met a Russian? That’s an end to your career. You concealed it? You go to prison. The spirit of Joseph McCarthy has been waiting for its hour to come.”

Trump has repeatedly said he wants to improve relations with Russia, but Moscow appears increasingly frustrated by the lack of visible progress, as well as by the support from Trump administration officials for continuing sanctions imposed on Russia for its interference in Ukraine.

Most Russian observers and news media cast the news over Trump’s alleged links with Russia as attempts by the Democrats to undermine the Republican’s agenda.

Fyodor Lukyanov, the head of the Council for Foreign and Defense Policies, a group of leading Russian foreign policy experts, said “the highest level of paranoia vis-a-vis Russia” in the U.S. makes any thaw in relations unlikely.

“The whole hysteria in the United States around Russia and the unprecedented presence of Russian issue and Russian factor in the U.S. domestic politics to me has one particular aim: to limit any space for maneuvering for President Trump in a relationship with Russia as much as possible, not to allow him to change the nature of relationship,” Lukyanov said.

“From this point of view their efforts are successful, because we see that his tone is changing,” he added.

Lukyanov ridiculed the portrayal of Russia as a “kingmaker everywhere in the world” and deplored what he called a “self-defeating and self-destructive approach” by the U.S. establishment.

“Everything we hear isn’t harming Russia that much but is harming the credibility of the United States,” he said. “If Americans themselves believe that countries and leaders outside the U.S. can decide how they vote, that’s very bad.”

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THE TRUMP TRADE CRACKED ASUNDER AMIDST DEMOCRATIC CHIMP OUT OVER SESSIONS

Thu Mar 2, 2017 3:59pm EST 18

UPDATE: Sessions recused himself from Trump administration-Russian Federation pending investigations.

I said it last night and I’ll say it again: it’s over Trumpsters. We’re going to war with Russia, whether you like it or not. We fight in the name of neoconism. We fight for the glory of Trotsky.

The media is drumming up a sundry of uncertainties, after it was revealed that Senator Sessions met with a god damned Russian Ambassador, whilst on the armed services committee.

This from Claire McCaskill

RELATED: Claire was somewhat upset about a month or so ago over Russian adoptions by US citizens. #pizzagate.

The result of all this business is a deleterious drop in ‘Trump trade’ stocks. Here are some of the lowlights.
$CLF, $KEG, $CMC, $VALE, $CRS, $X, $OAS.

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THE MARKET IS PRICING IN TRUMP’S IMPEACHMENT TODAY, AMIDST SESSIONS ‘REVELATIONS’

Thu Mar 2, 2017 1:54pm EST 43

The main stream media is in full spin cycle today, whirling a dizzying tale of deceit and treason, in light of new revelations that AG Sessions, in fact, met with a Russian Ambassador and didn’t mention it to Sen. Frankenstein during his confirmation hearings.

The Sessions camp says it’s complete horseshit, that the Senator had met with the Russian ambassador under his role as a member of the armed services committee, not for Trump.

Here’s the scoop.

Sen. Schumer is calling for an immediate investigation into the Trump administration for ‘Russian ties’ and says he must recuse himself from any investigation into Trump.


RARE PROTESTS are underway at the DOJ, with people chanting ‘lock him up’, an obvious ode to republican cat calls ‘lock her up’ — referring to two time failed Presidential candidate, Hillary Clinton.

The republican response has been mostly uniform, equating it to a witch hunt, replete with ‘smoke and mirrors.’

Here’s Paul Ryan telling the media the democrats are ‘lighting their hair on fire’ to get you (the cucked media) to cover it.

As a result of this uncertainty, stocks are tumbling, especially Trump trade ones that rely on infrastructure spending. On the upside are retail stocks, perhaps pricing in the death of Trump’s border tax — as this new crisis envelopes the White House with scandal not seen since the Nixon days.

Retail focused $XRT is higher by more than 1%, while the metals and mining ETF, $XME, is crushed lower by nearly 4% — partly thanks to CAT’s offices being raided today.

Here is our ‘friends’ at Business Insider, gracefully reminding us how the impeachment process works.


Brace yourselves lads, the Russians are coming.

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Shares of $MNST Soar: US ‘Scanner Data’ Lied and Now Bears Are Dead

Thu Mar 2, 2017 9:13am EST 13

Look at $MNST fly, up more than 13% off an earnings crush. Personally, I prefer Monster White can over all other energy beverages. I used to drink them all the time, hopped up on caffeine, punching holes through my wall. But those days are behind me now. I’m a kindler, gentler, more distinguished Fly — who’s only penchant is for large quantities of coffee and a desire to one day barrel towards and fulfill a life long dream of wanton alcoholism. Being of Irish heritage, it is my birthright.

Recent scan data had suggested weak sales trends for Monster. Those reports proved to be bullshit, now a major cause of pain and grief for anyone who shorted ahead of earnings.

Stifel raises their price target to $57 from $55, reiterates Buy. They note that Monster Beverage Corp. reported a meaningful sales and EPS beat in 4Q16 and also provided a solid month of January gross sales update on its earnings call. They believe the result is far better than feared given concerns that decelerating growth in U.S. scanner data indicated weakening end-demand. International legacy sales increased approximately 55% y/y, more than 2x the full-year growth rate, benefiting from accelerating brand awareness and the transition to Coke distribution in the majority of international geographies. Additionally, operating margin expanded 360bps y/y to 39.5% (or about 200bps normalizing for a benefit from lower promotional expenses in 4Q16), reflecting solid leverage on heightened expenses and likely helping to alleviate concerns about Monster’s ability to manage incremental investment. Monster also announced a new $500mm share repurchase authorization given continued strong free cash flow generation.

RBC notes that MNST shares rallied +11% after-hours (bringing the stock into green territory from a year ago) on strong 4Q16 and January ’17 sales growth (relative to expectations). Ahead of the print, investors were downbeat on Monster due to soft scanner data, but as they have written before, they think investors are under-appreciating Monster’s long-term growth opportunity in non-tracked channels and international. Reiterates Outperform, $61 tgt.

Which is your favorite energy soda?

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Where Were You When $SNAP Ripped Off America?

Thu Mar 2, 2017 8:43am EST 17

UPDATE: Snap opened up higher by +50%, a comical situation for all parties involved. Enjoy losing money in SNAP for the next two years.

When will someone put an end to this already? If you buy $SNAP today, you deserve to lose all of your money. At 25x sales, it will be the most expensive social media stock of all time. As a point in fact, at 25x sales, sporting a market cap of $24b, it will be the highest valuation large cap stock in America.


Social media peers

So how did we get to this retarded place where cool companies come public very late in their growth stage at absurd valuations?

VENTURE CAPITALISTS.

What is a venture capitalist?

They are professional pyramid schemers who finance the best private companies to the tune of billions — keeping them private for extended periods of time until their growth phase peaks and then IPOs them only when they want to cash out.

That is literally what they do.

The net result is an IPO system which is totally broken. It doesn’t serve as a viable investable genre any longer — as it is replete with unicorns and other fanciful companies who’ve been brought public at such extreme valuations, it’s almost impossible for after market participants to make money on them anymore.

Sure, sometimes these IPOs squeeze higher and make people money for short periods of time, like $GPRO, $SHAK, $TWLO and $FEYE — but they always crash and burn.

The investment banks did a good job at marketing this piece of shit, $SNAP. Without question, the company is growing fast and is a relevant part of idiot youngsters pathetic lives. But rest assured, if you purchase SNAP today, you will lose money in it over the next year. The stock, thanks to its extreme valuation, will be dead money for at least a year, if not longer.

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IT’S OVER TRUMPSTERS: SESSIONS SPOKE WITH THE RUSSIANS AND DID NOT REPORT IT DURING SENATE HEARINGS

Wed Mar 1, 2017 10:02pm EST 52

How does it feel to know that you literally elected a Russian spy? Think about all of the hard work President Obama did over the past 8 years, toiling away — forging true lasting relationships with The House of Saud and China — while designing new schemes to cause anguish and tumult, both here and abroad, and now all of that ‘intel’ is going directly into the brain of Vlad Putin. UN-fucking-believable.

The Washington Post is out with a story right now that then Senator Sessions met with the Russian ambassador, as well as 24 other foreign ambassadors, while on the ‘influential’ armed services committee. While this might look like ‘literally nothing’ to the layman, just know that of the 26 members on the armed services committee, 19 reported back to the Washington Post that they DID NOT meet with any Russians, let alone think about them. Quite frankly, honorable men of distinguished cloth do not meet with enemies — they annihilate them.

In summary, would be Madame President Clinton was Mcrobbed by Russians — after revealing John Podesta’s pizzagate infested email box to be of the lewd and insidious nature, rich with DNC schemes and main stream media chicanery. That alone was enough to sway the American people in the rusted belt to vote for Trump in large numbers. Bear in mind, Hillary won the popular vote, yet now finds herself indelibly unemployed and her foundation in rack and ruin.

Now this: our Attorney General met with a fucking Russian to discuss who knows what? I bet they even had a cold and disgusting bowl of borscht, while Sessions promised the Russians unlimited dick suckings in DC, in addition to vassal states in Eastern Europe and unfettered access to bombing out the terrorists in Syria.

You’ve been Mchad Trumpsters. Read it and weep. No take backs. OWN THIS.

Then-Sen. Jeff Sessions (R-Ala.) spoke twice last year with Russia’s ambassador to the United States, Justice Department officials said, encounters he did not disclose when asked about possible contacts between members of President Trump’s campaign and representatives of Moscow during Sessions’s confirmation hearing to become attorney general.

One of the meetings was a private conversation between Sessions and Russian Ambassador Sergey Kislyak that took place in September in the senator’s office, at the height of what U.S. intelligence officials say was a Russian cyber campaign to upend the U.S. presidential race.

The previously undisclosed discussions could fuel new congressional calls for the appointment of a special counsel to investigate Russia’s alleged role in the 2016 presidential election. As attorney general, Sessions oversees the Justice Department and the FBI, which have been leading investigations into Russian meddling and any links to Trump’s associates. He has so far resisted calls to recuse himself.
When Sessions spoke with Kislyak in July and September, the senator was a senior member of the influential Armed Services Committee as well as one of Trump’s top foreign policy advisers. Sessions played a prominent role supporting Trump on the stump after formally joining the campaign in February 2016.

In January, Sen. Patrick J. Leahy (D-Vt.) asked Sessions for answers to written questions. “Several of the President-elect’s nominees or senior advisers have Russian ties. Have you been in contact with anyone connected to any part of the Russian government about the 2016 election, either before or after election day?” Leahy wrote.

Sessions responded with one word: “No.”

Justice officials said Sessions met with Kislyak on Sept. 8 in his capacity as a member of the armed services panel rather than in his role as a Trump campaign surrogate.

“He was asked during the hearing about communications between Russia and the Trump campaign — not about meetings he took as a senator and a member of the Armed Services Committee,” Flores said.

She added that Sessions last year had more than 25 conversations with foreign ambassadors as a senior member of the Armed Services Committee, including the British, Korean, Japanese, Polish, Indian, Chinese, Canadian, Australian and German ambassadors, in addition to Kislyak.

In the case of the September meeting, one department official who came to the defense of the attorney general said, “There’s just not strong recollection of what was said.”

The Russian ambassador did not respond to requests for comment about his contacts with Sessions.

The Washington Post contacted all 26 members of the 2016 Senate Armed Services Committee to see if any lawmakers besides Sessions met with Kislyak in 2016. Of the 19 lawmakers who responded, every senator, including chairman John McCain (R-Ariz.), said they did not meet with the Russian ambassador last year. The other lawmakers on the panel did not respond as of Wednesday evening.

When asked to comment on Sessions’s contacts with Kislyak, Franken said in a statement to The Washington Post on Wednesday: “If it’s true that Attorney General Sessions met with the Russian ambassador in the midst of the campaign, then I am very troubled that his response to my questioning during his confirmation hearing was, at best, misleading.

Franken added: “It is now clearer than ever that the attorney general cannot, in good faith, oversee an investigation at the Department of Justice and the FBI of the Trump-Russia connection, and he must recuse himself immediately.”

AL FRANKEN WINS AGAIN.

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Daily Reminder: The ‘Cyber Security’ Fad Was a Scam

Wed Mar 1, 2017 3:27pm EST 7

With so many Russian hackers out there wreaking havoc, you’d think there would be demand for these piece of shit software companies who take advantage of weak minded morons running IT budgets for fortune 500 companies. I can recall a conversation that I had with an executive at Bofa/Merrill, who was in charge of a $500m per annum IT budget, who declared the cyber security sector ‘a fucking scam’ — bitching about prices being artificially and predatorily high.

When he took the role, he canceled all contracts and was working on crafting new ones — at much lower prices. That was two years ago.

Since then, $FEYE is down 75%, $VDSI -48%, $CUDA -37%, $QLYS -24% and today’s leader to the downside, $PANW -18%.

PANW just warned and guides lower. The party is, inexorably, fucking over for them.

Source: UBS

UBS downgrades PANW to Neutral from Buy and raises their tgt to $160 from $130. Amid a tough set-up, an across the board weak F2Q marked PANW’s 3rd set of inconsistent results in the LTM, ascribed to broad-based, go-to-market issues, aggravated by unforeseen purchasing pauses consequent to PANW’s recent slate of new product releases. While lower sales productivity and poor pipeline conversion were specific culprits cited, firm thinks investors are increasingly unlikely to dismiss competitive factors (CSCO’s security growth has been stable and respectable in mid/high-teens; peers CHKP, FTNT capped off strong CY16s) from here on. What has now emerged as a pattern of inconsistent execution and stark decel optics, firm sees PANW’s heretofore premium valuation as likely impaired, with a re-rating contingent on multiple Qs of growth reacceleration and “clean” results. As such, they are moving to the sidelines as they see the stock range-bound until the execution uncertainty clears.

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