GUNMAN KILLS 6 IN SIKH TEMPLE ATTACK IN WISCONSIN

via AP

OAK CREEK, Wis. (AP) — An unidentified gunman killed six people at a Sikh temple in suburban Milwaukee on Sunday in a rampage that left terrified congregants hiding in closets and others texting friends outside for help. The suspect was killed outside the temple in a shootout with police officers.

Police called the attack an act of domestic terrorism, but did not provide any details about the gunman or suggest a possible motive. Oak Creek Police Chief John Edwards did not say whether he specifically targeted the Sikh community.

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Jez Liberty: The yo-yo is definitely back! May, June, July have started a new “trend” of a seesawing equity curve for the index – with relatively strong moves. This July rebound means that the index is now back in the “fairly comfortable” positive territory, although it will be interesting to see what August has got in store – especially since the equity curve seems to show signs of turning back down at the end of last month.

Read the rest including detailed analysis of multiple trend-following systems, here.

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This is a follow up to TradingMarkets’ A Low Volatility Strategy for Trading High Volatility (h/t The Whole Street) in which they describe a strategy for trading vol-ETFs VXX/XIV based on mean-reversion and the short-term indicator RSI(2).

Read the excellent article here.

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Cheers on your weekend!

The Great Global Warming Swindle caused controversy in the UK when it premiered on Channel 4. According to Martin Durkin’s documentary, the chief cause of climate change is not human activity but changes in radiation from the sun.

Some have called The Great Global Warming Swindle the definitive retort to Al Gore’s An Inconvenient Truth. Using a comprehensive range of evidence it’s claimed that warming over the past 300 years represents a natural recovery from a ‘little ice age’.

According to the program humans do have an effect on climate but it’s infinitesimally small compared with the vast natural forces which are constantly pushing global temperatures this way and that. From melting glaciers and rising sea levels, The Great Global Warming Swindle debunks the myths, and exposes what may well prove to be the darkest chapter in the history of mankind. According to a group of leading scientists brought together by documentary maker Martin Durkin everything you’ve ever been told about global warming is probably untrue. Just as we’ve begun to take it for granted that climate change is a man-made phenomenon, Durkin’s documentary slays the whole premise of global warming.

“Global warming has become a story of huge political significance; environmental activists using scare tactics to further their cause; scientists adding credence to secure billions of dollars in research money; politicians after headlines and a media happy to play along. No-one dares speak against it for risk of being unpopular, losing funds and jeopardizing careers.”

[youtube://http://www.youtube.com/watch?v=YtevF4B4RtQ 450 300]

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U.S. equities rally hard on better than expected  non farm payrolls erasing the week’s losses this morning.

The S&P and the DOW have touched new highs not seen for at least a month or two of trade. Let’s hope we stick a close above these new levels signifying a break out to the upside.

Market update

The story

3D heat map

[youtube://http://www.youtube.com/watch?v=3GwjfUFyY6M 450 300]

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I seem to remember something about upholding law, leading with ethics and morality…..

[youtube://http://www.youtube.com/watch?v=dmOZ3jtGtCc&feature=relmfu 450 300]

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Full report

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Here is what analysts are buzzing about after what seemed like  disappointing commentary from the ECB.

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Gapping up

ACLS +41%, NILE +22.1%, OPEN +14.2%, MELI +13.5%, LNKD +9.2%,

STEM +7.1%, KOG +7.1%, MTZ +6.4%, DB +6%, MT +5.6%, IMGN +5.1%,

BCS +5%, LPS +4.2%, SKUL +4%, RIO +3.4%, LPS +3.1%, NOK +3.1%, EOG +3%,

BHP +1.8%, PG +1.7%, GS +1.6%, JPM +1.4%, KFT +1.2%, BAC +1.1%

Gapping down 

ZIP -22.9%, BODY -17.2%, MCP -15.5%, XIDE -13.2%, DLB -12.8%,

ROSG -12.2%, SCOR -11.1%, KCG -10.9%, TST -9.3%, GLUU -6.9%,

ONNN -6.4%, KYN -5.5%, VCLK -5%, OMPI -4%, SYNA -3.8%,

SVM -3.1%, ARR -2.3%, MODL -1.1%

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In Play ,

On the Wires 

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NLY, MT, CAP, CRAI, HOS, MPC, MELI, MTG, NOK, JWN, OPEN, PH, SKS, SXL, TDC, WFM, INT, ZIP,

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Rail traffic continues to expand;

“The latest data from the AAR showed another gain in intermodal traffic at 4.1%.  This brings the 10 week moving average to 5.1%.  Carloads paint a more mixed picture with a decline of 1.5%.  Intermodal, historically, has been a better leading indicator of economy growth, however.  I think it’s all consistent with a muddle through economy, but not one that’s currently contracting.  The AAR has more details:”

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“Pacific Investment Management Co.’s Mohamed El-Erian called recent declines in purchasing manager indexes in Europe and Asia “frightening” and said the world economy is suffering its severest slowdown since the global recession ended in 2009.

El-Erian, who is chief executive officer of the Newport Beach, California-based Pimco, predicted global growth of 2.25 percent over the next 12 months. That’s down from the 3.9 percent in 2011 and 5.3 percent in 2010 recorded by the International Monetary Fund. The world economy contracted 0.6 percent in 2009.

“This is a serious, synchronized slowdown,” El-Erian said in an interview Thursday.”

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Jeremy Grantham has some scary thoughts about the world at large and how food shortages could be a wrench in the engine of the global economy. The article certainly makes you think about where to place those long term investments.

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$FB has done nothing but disappoint from it IPO debut. After hitting a fresh 52 week low yesterday we have to ask how will $FB turn it all around ?

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Hit the bricks on these sites to help improve your knowledge and experience base.

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“A J.P. Morgan Chase JPM -2.36% & Co. executive encouraged the trader known as the “London whale” to boost valuations on some trades, said a person who reviewed communications emerging from the bank’s internal probe of recent trading losses.

After reviewing emails and voice-mail messages, the bank has concluded that Bruno Iksil, the J.P. Morgan trader nicknamed for the large positions he took in the credit markets, was urged by his boss to put higher values on some positions than they might have fetched in the open market at the time, people familiar with the probe said.”

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The consumer has been counted as dying for the last 25+ years, but it never happened. Now we are truly seeing fundamental shifts in consumer behavior. We must ask what will it do to GDP going forward ?

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