January Effect

According to the Stock Trader’s Almanac, the direction of January’s trading predicts the course for the year 75 percent of the time.
Stocks could get a boost next week from the so-called “January effect,” when stocks that were sold off in December for year-end tax harvesting rally back in the next month as investors scoop them back up at lower prices.
Of the S&P 500 components, 301 were down 10 percent or more from their 52-week highs and 175 were off by at least 20 percent through Dec. 30, according to Ryan Detrick, market strategist at Kimble Charting Solutions in Cincinnati.
That broad decline was offset by the narrow leadership of the “FANG” stocks – Facebook, Amazon, Netflix and Alphabet. Combined, they comprise more than 5 percent of the weighting in the S&P 500 and have all risen at least 35 percent for the year.

Get this: Iraq sold over 1 billion barrels of oil in 2015. In other words, we “liberated” Iraq, using American blood, so that a corrupt government could take power and flood the market with cheap Iraqi crude, crushing American oil interests. Moreover, the remnants of the Saddam loyalist “Republican Guard” were spun off to start their own dark realm, dubbed ISIS–who sells their crude for under $10 per barrel.

Iraq said it exported 1.097 billion barrels of oil in 2015, generating $49.079 billion from sales, according to the oil ministry.
It sold 99.7 million barrels of oil in December, generating $2.973 billion, after selling a record 100.9 million barrels in November, said oil ministry spokesman Asim Jihad. The country sold at an average price of $44.74 a barrel in 2015, Jihad said.

Iraq, with the world’s fifth-biggest oil reserves, needs to keep increasing crude output because lower oil prices have curbed government revenue. Oil prices have slumped in the past year as the Organization of Petroleum Exporting Countries defended market share against production in the U.S.

Has there ever been a worse foreign policy blunder in American history. Once again, no one is held accountable.

Oh, by the way, the spokesman for the Iraqi oil ministry goes by the name of a Mr. Asim Jihad. You.can’t.make.this.shit.up.

As you were.

This is what happens when you pile into a single stock like a fucking megalomaniac. Your fucking accountants tell you to take tax losses and you look like a pie faced moron.

Ackman’s Pershing Square Capital Management sold about 5 million shares of Valeant in order to create a tax loss for investors in two accounts, according to a regulatory filing on Thursday. The fund retained its stake in two accounts that wouldn’t get the same tax advantage. Annual losses on investments can be used to lower investors’ total U.S. taxes in some cases, according tothe Internal Revenue Service.

Bill reduced his position to 8.5% from 9.9%. Remember when he got all bold and shit, talking about if he could buy more he would? Yeah, he was selling.

In other news, Greenlight Capital suffered its largest drawdown since ’08, off by 20%. No word on what the fucked faced from Pershing Sq did in 2015 yet. I am sure the news will be charming.