Today’s ETF Winners/Losers

No. Ticker % Change
1 TVIX 16.75
2 CVOL 14.01
3 DPK 9.80
4 VXX 8.75
5 VIXY 8.73
6 VIIX 8.71
7 BXDC 8.45
8 EPV 7.42
9 SCO 7.27
10 SIJ 7.06
11 TVIZ 7.03
12 DTO 7.01
13 EFU 6.71
14 ERY 6.51
15 EDZ 6.30
16 FAZ 5.94
17 SOXS 5.84
18 SRTY 5.64
19 TYP 5.41
20 TZA 5.34
21 SPXU 5.33
22 TMF 5.31
23 BGZ 5.18
24 INDZ 5.04
25 DRV 4.84
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No. Ticker % Change
1 DZK -9.91
2 XIV -8.61
3 UCO -7.60
4 RUSL -7.11
5 ERX -6.37
6 EDC -6.34
7 FAS -6.05
8 DYY -6.03
9 SOXL -5.77
10 TMV -5.73
11 TQQQ -5.50
12 TYH -5.32
13 UPRO -5.27
14 TNA -5.15
15 BGU -5.09
16 MWJ -5.05
17 DRN -4.98
18 EWI -4.88
19 EWD -4.88
20 CU -4.86
21 BNO -4.79
22 EWP -4.78
23 INDL -4.77
24 KHI -4.61
25 VNM -4.47

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No. Ticker % Change
1 NGSX 66.05
2 LIVE 54.55
3 SCEI 30.23
4 NYNY 22.03
5 LEXG.OB 18.44
6 ABCW 16.67
7 XPO 15.42
8 DST 12.77
9 HOLI 11.15
10 SMRT 10.47
11 HEV 10.16
12 LLEN 9.50
13 CUR 9.09
14 CMED 9.03
15 SYUT 8.45
16 SPMD 8.00
17 GPL 7.95
18 IDN 7.55
19 LOCM 7.19
20 CMFO 7.09
21 APRI 7.08
22 SVA 6.98
23 HPOL 6.94
24 IDIX 6.77
25 TZYM 6.74
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No. Ticker % Change
1 KAD -22.00
2 EFOI -20.00
3 TRGL -19.96
4 RCON -19.67
5 COIN -18.15
6 CPST -18.02
7 SRDX -17.29
8 AERG -16.00
9 BIOD -15.54
10 SPWRA -14.71
11 VALV -14.61
12 MCZ -13.89
13 OI -13.41
14 BSPM -13.33
15 CCSC -13.00
16 CPF -12.24
17 OB -11.12
18 CCRT -10.81
19 BORN -9.90
20 RENN -9.79
21 SFUN -9.63
22 HSOL -9.45
23 ALTI -9.43
24 SPRD -9.29
25 CNET -8.99

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LONDON (AP) — A violent protest against the Greek government’s latest austerity package hit stocks hard Wednesday and sent the euro sliding over a percent against the dollar.

With hundreds of protesters clashing with riot police and tear gas blanketing Athens’ main Syntagma Square, investors are fretful that Greece’s debt crisis is spiraling out of control. Reports that the Socialist government, which is led by George Papandreou, has launched power-sharing talks with the main opposition conservatives has only added to the uncertainty.

“Eurozone ministers continue to debate the details of a multi-billion euro bailout package amid a backdrop of protests, police clashes and a general strike,” said Will Hedden, a sales trader at IG Index.

In Europe, the FTSE 100 index of leading British shares was down 0.8 percent at 5,758 while Germany’s DAX fell 1.1 percent to 7,126. The CAC-40 in France was 1.3 percent lower at 3,816.

In the U.S., the Dow Jones industrial average was down 0.6 percent at 12,007 while the broader Standard & Poor’s 500 index fell a similar rate to 1,280.

Unsurprisingly, Greek shares took an even bigger battering, closing 1.9 percent lower at 1,243.

The euro was suffering badly, too. The fear is that the austerity measures won’t get passed in Parliament, meaning that the country will struggle to get the next tranche of its current bailout facility, without which it will probably default. They’re also necessary for the country to get a second bailout.

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It’s always the same shit only a different day. Free markets are never really free, companies complain regulation hampers business and regulators say the “free” markets will get rid of excess and fraud. Yet we always end up with fraud, debacles, and bubbles.

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A 5 month trend was reversed. After selling some $9 bn + of treasuries; China bot $7.6 bn to put their holdings @ $1.153 trillion….

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Did the SEC not blame part of the financial crisis on lack of man power and funding ? Meanwhile we pay people to watch porn over at the SEC. It is no wonder the debacle happened.

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For June the index fell 3 points to 13….

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Q2 expected to come in at or slightly below Q1, but the rest of the year may see weakness.

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Read Here.

The housing bubble of the early 2000s was “unprecedented” and the “biggest in U.S. history,” according to Yale professor Robert Shiller.

As a result, he says “it’s very hard to forecast” where housing goes from here, now that it has officially fallen into double-dip territory, based on the S&P Case-Shiller Index.

Housing “might fall [another] 10-25% in the next few years,” but forecasting housing today is harder than predicting the weather, Shiller says. “I don’t see how anyone can quantify a forecast because it’s such an unusual event.”
In his latest books, The Subprime Solution and Reforming U.S. Financial Markets, Shiller argues the path to recovery is paved with financial innovation; 11 million homeowners under water is proof “they weren’t protected and need a way to hedge their housing risk.”

But “the economy is sick right now [and] I don’t have any miracle cure,” he admits.

Best known for his earlier works, Animal Spirits and Irrational Exuberance, Shiller is arguably the world’s foremost authority on financial bubbles. So if he can’t predict with any certainty where housing is going, what hope is there for the rest of the punditry?

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WASHINGTON (AP) — Republicans have quietly maneuvered to prevent a House spending bill from chipping away at federal farm subsidies, instead forging ahead with much larger cuts to domestic and international food aid.

The GOP move will probably prevent up to $167 million in cuts in direct payments to farmers, including some of the nation’s wealthiest. The maneuver, along with the Senate’s refusal Tuesday to end a $5 billion annual tax subsidy for ethanol-gasoline blends, illustrates just how difficult it will be for Congress to come up with even a fraction of the trillions in budget savings over the next decade that Republicans have promised.

Meanwhile, the annual bill to pay for food and farm programs next year would cut food aid for low-income mothers and children by $685 million, about 10 percent below this year’s budget.

The farm subsidy cuts won bipartisan approval in the House Appropriations Committee two weeks ago, but as debate on the House floor began Tuesday, Republicans turned to a procedural maneuver to drop that language.

Rep. Frank Lucas of Oklahoma, the Republican chairman of the House Agriculture Committee, won an agreement from party leaders to strike the cuts in direct payments if just one member objected on the floor. Some Democrats hope to force a vote but aren’t sure they will be able to.

“The takeaway from this is that nothing has changed with regard to farm subsidies, it’s the same old, same old,” said Rep. Jim McGovern of Massachusetts, a Democrat who has pushed to restore the money cut from food aid.

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Futs are down 13. The dollar is up 1% and Greek protesters are throwing sticks at police.

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Upgrades

SGI – Silicon Graphics: Addressing concerns highlighting catalysts – Wunderlich

KFT – Kraft Foods initiated with a Buy at Jefferies

ARBA – Aruba Networks upgraded to Buy from Neutral at UBS

PETD – PDC Energy upgraded to Overweight at JPMorgan

VOC – VOC Energy Trust initiated with a Mkt Perform at Morgan Keegan

NOG – Northern Oil & Gas initiated with a Mkt Outperform at Rodman & Renshaw

SOL – ReneSola downgraded to Neutral from Outperform at Macquarie

HLH – Herbalife target raised to $63 at Argus

BRY – Berry Petroleum initiated with a Buy at Stifel Nicolaus

FIG – Fortress Investment upgraded to Outperform from Neutral at Credit Suisse

SWFT – Swift Transportation upgraded to Overweight from Neutral at JP Morgan

TTMI – TTM Tech upgraded to Buy from Neutral at UBS

COH – Coach initiated with a Buy at Weeden

MKC – McCormick initiated with a Buy at Jefferies

GD – General Dynamics initiated with a Buy at Lazard

P – Pandora Media initiated with a Buy at Maxim Group

BID – Sotheby’s: Raising estimates to reflect solid auction momentum – Wedbush
Downgrades

K – Kellogg initiated with an Underperform at Jefferies

SMG – Scotts Miracle-Gro target lowered to $50 from $61 at RBC Capital Mkt

MYGN – Myriad Genetics downgraded to Hold from Buy at Auriga

THS – TreeHouse Foods initiated with a Hold at Jefferies

EW – Edwards Lifesciences initiated with a Hold at Brean Murray

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Gapping up

KFY +4.5%, FIG +4.6%, CNTF +9.2%, MY +6.7%, CLC +2.7%, AVL +2.3%, MCP +1.5%, REE +8.1%,

Gapping down

CPST -8.2%, OI -6.7%, DB -1.2%, SI -1%, HBC -2%, BBVA -2.2%, CCL -2.2%, ATPG -1.7%, MT -1.4%, CS -1.6%, MYGN -9.1%, UBS-1%, SDRL -2.5%, E -2.3%, SOL -2.1%,  NOK -4.2%, SPWRA -2.8%, SMG -2.8%,TOT -1.9%, STO -1.8%, BP -1.3%, SMG -4.9%, NBG -4.6%, STD -2.5%, BCS -2.4%, RITT -7.3%, AVEO -6.5%, MCZ -6.1%, BBEP -4.9%, ADLR -4.6%,

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In Play

On the Wires

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yields drop to 3.07 on the 10 year….futures worsen by 100%

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Apparently we wanted to swap sweet crude held in our reserves for lower quality crude. The sweet stuff would have went to Europe after oil shipments were curtailed form the Libyan war/intervention.

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A 13% jump in applications was had on lower interest rates.

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All metals have seen some pressure. Gold fell $5.03 to $1518.75

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Due to destroyed oil fields production has stopped. They are currently selling their last cargo of oil for $100 Million…

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Asian markets in general are mixed. Upside is by 0.25-0.50% while the gains are in the range od 0.1-0.29%

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