Does This Look Like a Bull Market?

Banks are the epicenter of any economic cycle. Stop pretending they don’t mean anything. I beseech you to remember the lessons of 2008.

Year to Date returns for choice financials

LC -61%
RBS -53%
FXCM -51%
CS -50%
DB -48%
LPLA -46%
BCS -44%
JLL -42%
WDR -42%
WETF -39%
LYG -38%
NMR -38%
GHL -37%
AEG -36%
VOYA -36%
SC -36%
VRTS -35%
MTG -35%
GNW -34%
FDC -33%
LFC -32%
MTU -31%
PUK -30%

Major Indices

Germany -12.3%
France -11%
England +4%
Spain -16%
Italy -28%
Switzerland -10%
China -16%
Hong Kong -6%

America +2.6%

And this is what you get excited about? Really? Buyer beware.

Both scourges of the earth have been taken alive. This should make for a most interesting media circus-like aura around their trials.

The latest reports indicate 11 officers were shot, 4 dead and another 3 in critical condition. Officers said the shootings were done by two men, clad in cammo and and body armor. They were perched high in a sniper’s position.

One of the shooters is in custody, the other at large. Police have released this photo and are asking for help to apprehend him.

The Dallas PD have released this statement on Twitter.

UPDATE: The man in the photo released by the Dallas PD has turned himself in.

UPDATE: BOTH SUSPECTS ARE IN CUSTODY. Well done, Dallas PD.

This is a national tragedy. It appears two men with masks and AR-15s, protected with bullet proof vests, ambushed and shot six officers–gravely wounding 5. The source in the video below is a veteran reporter in Dallas, with great sources–allegedly.

Related: 10 protestors arrested in NYC.

It was a harrowing scene in Dallas, with reports of at least 20 shots fired. This eyewitness, interviewed by Fox News, said he saw an officer gunned down and described the events that led him to seek refuge, after being shot at himself.

Update: reports suggest 3-6 cops were injured during shooting.

Update: There are two gunmen. The first one has been ‘neutralized.’ The attempt to neutralize the second one is underway.

Fox news is showing live footage of what appears to be several police officers down, after reports of shots fired. Dozens of cops are on the scene with guns drawn. In the vicinity, there was a black lives matter protest underway over the two black American men who were gunned down by police officers.

These events upset me a great deal and hit home, closer than you know. The images are of course disturbing and all of this sensationalism by the media only divides people more and causes hateful events like this to unfold.

Update: Police have surrounded a garage on Lamar and Commerce in Dallas and have guns trained for possible active shooter.

An eyewitness is reporting at least 20 shots in rapid succession were heard.

In order to protect the environment, Colombian officials decided to end the practice of killing coca crops via aerial spraying. It was becoming onerous to some birds and bugs. As a result, farmers have been planting and sniffing endless hectares of cocaine to their heart’s desire.

Naturally, this is good news for drug addicts in the Hamptons, who regularly ingest ‘nose candy’ during their summer parties. Wall Street loves cocaine and prefers to have an abundance of it.

Coca output rose 39 percent to 96,000 hectares in 2015, Defense Minister Luis Carlos Villegas said, citing data from the United Nations Office on Drugs and Crime due to be published Friday. Guerrillas of the Revolutionary Armed Forces of Colombia, or FARC, are telling farmers that they’ll receive subsidies to switch to legal crops after a peace deal is signed, according to the ministry.

“They haven’t replaced eradication with anything,” Isacson said. “They have made no move to go into these coca-growing areas and provide people with other alternatives. They took away the stick and didn’t do any carrot, and the result is a lot more coca.”

In the United Steaks, there are roughly 45,000 drug related deaths per annum, of which a mere 5-10k are cocaine related. Thank God for environmentalists.

I read somewhere that an insider bought some stock, in this lowly ranked piece of shit LED company. Whatever the case may be, just like I foretold the doom that beckoned in the shares of KBIO, I am telling you now that this is going to end in ruin too.

I used to trade this stock, mainly for fun, when it was a dollar. Now that it’s $10, every fucked face on StockTwits wants to play it. Don’t you understand, this is a ponzi scheme? The company might not be scheming, but the share price manipulation will end in a pile of bones.

I understand your rationale for wanting to play this. You figure the float is so small, currently about 1.5 million shares, and the momo is strong. By the looks of it, you might be able to eek out a quick 50% gain, no? This way of thinking has destroyed more traders than anything else. When you stop to think about what you’re doing, you will realize that you’re playing with fire.

If this post convinces just one person from diving–headlong—into a empty pool filled with sharp stones of granite, then I’ve done my public service for the day.

Quit trying to take short cuts, you fucking booze hounds.

Sympathy stocks are already getting mauled, with KITE leading the fray off by 12.5%. BLUE is down too–off by 4.55%. BLCM is another little known CAR-T competitor, off by almost 3%.

Juno Therapeutics, Inc. (JUNO), a biopharmaceutical company focused on re-engaging the body’s immune system to revolutionize the treatment of cancer, today announced that it has received notice from the U.S. Food and Drug Administration (FDA) that a clinical hold has been placed on the Phase II clinical trial of JCAR015 in adult patients with relapsed or refractory B cell acute lymphoblastic leukemia (r/r ALL), known as the “ROCKET” trial. The clinical hold was initiated after two patient deaths last week, which followed the recent addition of fludarabine to the pre-conditioning regimen.

Juno has proposed to the FDA to continue the ROCKET trial using JCAR015 with cyclophosphamide pre-conditioning alone. In response, the FDA has requested that Juno submit, as a Complete Response to the Clinical Hold: a revised patient informed consent form, a revised investigator brochure, a revised trial protocol, and a copy of the presentation made to the agency yesterday. Juno will submit the requested information to the FDA this week.

CELG is a major investor in JUNO. That money has just been whisked away.

Update: JUNO reopens for trade, down 30%.

UPDATE: Juno reveals two patients died in clinical trials.

The two adult patients died last week, Juno said in a statement Thursday, after a chemotherapy drug called fludarabine was added to the treatment regimen. It was being tested in adults with relapsed or refractory B-cell acute lymphoblastic leukemia, a cancer that affects the immune system. Juno has asked the FDA to be allowed to continue the trial without using the drug.

A day of reckoning is coming. You’re all assholes at a party in the Hamptons, trashing a beautiful mansion.

But do you know how the story ends?

YOU GET FUCKING FIRED.

Laugh now. They all laughed at Noah too, until they were getting kicked in the head by giraffes who weren’t fast enough to board the ark.

This is what I know.

A fucking pestilence is sweeping the western hemisphere. Crude oil is knifing lower–currently at 2 month lows. Come 2017, the entirety of the oil complex will be in shambles due to the debt wall to come. We’re in an earnings recession. The Fed is tone deaf. The world is encumbered by negative yielding interest rates. And, lastly, Hillary Clinton is fixing to be your next President.

Need I say more?