Stifel, JP Morgan Downgrades $LVS; Cites Macau as Source of Concern

Apparently, Macau isn’t stabilizing like the stock prices of WYNN, MPEL and LVS have been suggesting as of late.

Both Stifel and JP Morgan have downgraded LVS, after reporting abysmal earnings, citing Macau as a major source for concern.

Stifel lowers tgt to $56 from $58. They expect some pressure on Las Vegas Sands and all the Macau related names. As they’ve highlighted recently they believed these names had gotten ahead of themselves and any hiccup with the Macau story would cause a swift correction. Given the miss (not hold adjusted) coupled with the fact management noted March was a poor month for them and alluded to the fact April isn’t shaping up to be great, this could be the trigger that sends shares lower near-term.

LVS missed by 18 cents– and also on the top line.

How’d this happen? The oil heavy Russian index is at new highs. The last time it reached this level was back in 2007. The Russian economy has been through a lot since then, surviving a run on its currency post Ukraine war, the collapse of crude and other indelible circumstances that has menaced the Russian people.

All that being said, NEW HIGHS FOR THE MICEX.

The Micex Index of 50 stocks advanced as much as 0.8 percent to 1,976.69, eclipsing the previous all-time high reached on Dec. 12, 2007, before trading up 0.4 percent at 1,967.20 as of 10:18 a.m. in Moscow. Gains on the benchmark index were led by natural-gas export monopoly Gazprom PJSC and Sberbank PJSC, the nation’s biggest lender. Oil was little changed at $45.72 a barrel after jumping 4 percent yesterday.

It’s worth noting, however, the Russian ETF traded here isn’t even close to its all time high.

Before George dies, he wants to break the bank of Beijing. Not only does he want to break it, he wants them to go back to the rice paddy and to stop meddling with the Illuminati and the Grande Recursive Order of the Knight’s of the Lambda Calculus, from which he hails. From his vantage point, he’s had his way with a number of prominent central banks during his illustrious career. What better feather in his cap than to annihilate a nation of 1.5 billion?

Indeed.

Soros is out with fresh bearish remarks today, regarding China. The last time he talked this negatively about the great dog eating nation was back in January, just prior to the scare that nearly broke their stupid little manipulated currency into a thousand pieces.

This is a dubious omen for anyone living in China or investing alongside the psychopaths at China life.

My opinion is utterly meaningless here. Look at the numbers and judge for yourself is a fucking hockey stick chart of debt/gdp seems like a good idea to you.

M. Tinker, head of Axa IM Framlington Equities Asia (pretentious name alert) is sanguine on the Chinese debt bubble, pointing to ‘hard assets’ with cash flow as the underpinnings to it–as opposed to western sovereign debt which is backed by nuclear missiles.

Moreover, Tinker just like everything about China. Don’t bother to convince him otherwise.

Just shut up already. There isn’t going to be any stinking deals. It doesn’t matter what James Cramer or the fat fuck’d CEO from CLR (hedgeless bastard) says about oil. Barclay’s says it’s going to $36, almost immediately. Moreover, and inexorably so, you’re all morons for chasing it up here.

I am not just saying that to get you to access the blog. J. Cramer went super fucking retard tonight. It looked like he had rabies, foaming from the mouth, screaming and fucking yelling crazy shit, like ‘mergers and takeover are gonna happen in the oil patch soon.’ Also, and most importantly, Jim wants you to buy everything. He looked like the cookie monster up there tonight, spazzing out over a box of chips ahoy.

The chemicals are ready to rock and fucking roll. The banks are a dream come true. For the love of dead matadors, he even thinks IBM is ready to turn higher in a very significant way.

Why? How could such fuckery persist on the teevee, you ponder?

Don’t you worry about that shit. Get an 8-ball, and 20 cans of red bull, ingest it all, then BEHOLD the grandeur and the greatness of American crony-capitalism.

Towards the end of 2015, I made a well thought out decision to take a break from the depraved world of money management. Having done it all of my life, and made millions along the way, I felt myself getting burned out, cynical at every turn, completely and thoroughly spent from the emotional roller coaster of having to be responsible for the wealth of so many people that I cared about. For me, the market was no longer fun and I didn’t like the forecast for 2016 and beyond.

I didn’t sell my practice or try to gain one last monetary benefit from the fantastic clients that I’ve had since entering the business back in the late 90s. Simply stated, I woke up one day and decided this was something that I had to do. I explained it as best I could to clients and friends, who took me for a lunatic–walking away from an easy paycheck for the grindhouse life of being a fucking blogger. As you can see by the additional work load I’ve been putting into the site, I have some spare time on my hands and there is nothing that I like doing more than talk shit and trying to help others navigate the murky waters of Wall Street.

Truth is, in spite of the fact that I’ve voluntarily axed my annual take home by more than 75%, I haven’t been this happy in centuries (The Fly is immortal).

My current thinking on the market goes like this. We are in a mini-bull market and emotions are running high. Very soon, people will be walking around the streets naked, or thinly robed, with jars of incense chaperoning their every step, eating grapes and enjoying a life of wanton hedonism. Market tops are always marked this way. It’s natural to get sucked in towards the top. That’s why it’s so hard to time tops. The only way to avoid getting suckered into the drudgery is to remove yourself from the system.

Hear me out. If you’re buying and selling high beta stocks, you’re gonna end up blowing up. It might not be today, or tomorrow. But rest assured, it will happen. A vast majority of the people I know believe the market is rigged. They don’t really believe the economy warrants a never-ending bull run; but they play the game nonetheless–because they’re addicts.

My trading philosophy for 2016 is to utilize the system and algorithms that I created in Exodus. With myself dedicated to trading Exodus exclusively, it gives members a birdseye view, or a better understanding, how the system could be utilized. Like all things that are easy, I have a penchant for making them hard.

I was only supposed to trade the SPY oversold this year. Instead, at the open of trade tomorrow, I will be concluding my final short sale of XLE–putting me into a ludicrous 175% short position on big oil. My risk is mitigated by the time in which I am permitted to hold the position, which is 10 trading days. Nevertheless, I find it somewhat humorous, in a money losing sort of way, how I fixed myself into a fucking pickle jar without even trying.

My methodology is to stagger 25% positions with each overbought signal. Clearly, we’ve been on some demonic run higher, which is lighting shorts on fire. Nevertheless, my basis is $64.02; and after tomorrow’s final purchase, it will be a tad bit higher.

My opinion on the market is very poor. This house of cards will begin to unravel, in earnest, in approximately one week hence.

I won’t droll on about this. Our leaders are fucking catamites. They aren’t men. They are bookworms and schemers and god damned catamites. Apparently, our treasury needed to be cajoled by the star of the NYC hit play, Hamilton, to keep the founder of American finance on one of its bills.

The decisions, first reported by Politico, will come more than a month after Lin-Manuel Miranda, the star of the Broadway musical “Hamilton,” spoke with Lew about keeping Hamilton on the $10 bill, and about a year after Women on 20s, a nonprofit organization, began a movement to replace former President Andrew Jackson with a woman on the $20

By the way, the play isn’t what you think, my fellow American patriots. It’s a hip hop play, whose case is predominantly people of color, that has been under fire for putting out casting calls for ‘non-white’ actors.

Harriet Tubman will replace the genocidal maniac, former President, Andrew Jackson.

In about 15 years, you will all get to be reminded of how awfully racist America was, when spendthrifting throughout town with your Tubman 20s.

I’ve got to admit, I didn’t see this coming. The dots are so easy to put together, now with the benefit of hindsight.

Uber is annihilating the NYC yellow cab, an industry that has been very kind to middle class workers in the city for decades.

I know several taxi drivers who bought their medallions back in the 90s for a song, anywhere from 50-100k. Up until a few years ago, those medallions made them rich, with the price soaring above a million dollars. However, just like with stocks, some unlucky cab drivers bought sky high priced medallions into the hype, leveraged everything they owned to finance it, and are now facing the reality of ruin.

SBNY is a NYC bank, with strong ties to the taxi industry. Those chickens came home to roost today.

Lenders have pulled back support for the $15 billion New York City taxi industry, which has been weakened by the emergence of online ride-sharing services including Uber Technologies Inc. The value of a medallion sunk as low as $520,000 in March from $1.1 million in 2013, according to data from the New York City Taxi & Limousine Commission. Signature wrote off about $4.4 million of medallion loans in the first quarter, and expects the portfolio to worsen “for the next couple” of periods, the company said on a call with analysts.

Fascinating stuff, right? This is the best business in the world.