Jim Sinclair’s Commentary
The latest from John Williams’ www.ShadowStats.com.
- Third-Quarter Production Growth Slowed Sharply
- Falling Auto Production in September More than Offset by Defense Industry Output, Oil and Gas Production and Weather-Related Utility Surge
"No. 666: September Industrial Production"
HFT Firm Athena Engaged In Massive Closing Price Manipulation, Called It "Gravy"
Tyler Durden on 10/16/2014 14:12 -0400
Another day, another HFT firm busted for manipulating the market. Today’s participant: Athena Capital, which did what every other algorithmic, HFT firm does – rig the market of course, but at least it had a sense of humor about it: Athena called the market-rigging algorithm that "manipulated the closing prices of tens of thousands of stocks during the final seconds of almost every trading day during the Relevant Period" by the very amusing name "Gravy." But remember: HFTs are really your friend – they just provide liquidity and stuff.
From the filing:
Athena, an algorithmic, high-frequency trading firm based in New York City, used complex computer programs to carry out a familiar, manipulative scheme: marking the closing price of publicly-traded securities. Through a sophisticated algorithm, Athena manipulated the closing prices of thousands of NASDAQ-listed stocks over a six-month period.
Between at least June through December 2009 (the “Relevant Period”), Athena made large purchases or sales of the stocks in the last two seconds before NASDAQ’s 4:00 p.m. close in order to drive the stocks’ closing prices slightly higher or lower. The manipulated closing prices allowed Athena to reap more reliable profits from its otherwise risky strategies. Internally, Athena called the algorithms that traded in the last few seconds “Gravy.”
GEAB N°88 is available! Global systemic crisis – 2015: The world is defecting to the East
Two important facts emerge from the past four weeks’ news. First, China is becoming the world’s largest economic power, officially overtaking the US, based on GDP measured in purchasing power terms (IMF figures) of $17.61 trillion (compared to $17.4 trillion for the US). If the official media hasn’t raised the slightest eyebrow to this information, our team believes that it’s an historic event: the US is no longer the world’s largest economic power and, inevitably, that changes everything !…
Jim Sinclair’s Commentary
You can never take gold out of India’s traditions.
Gold imports soar 450% in India
Imports at a new high; September trade deficit widens on gold imports.
Author: Shivom Seth
Posted: Wednesday , 15 Oct 2014
Mumbai (Mineweb) – The Indian government has been proved right once again in not lifting its curbs on gold. Trade deficit has widened the most in 18 months, as imports of the precious metal have surged.
Gold imports jumped about 450% to a new high of $3.75 billion in September (versus $682.5 million y/y). In August 2014, gold imports stood at $2.04 billion.
This as the trade deficit widened to $14.25 billion in September, from $10.84 billion a month before.
Falling inflation might just not be enough, say trade experts. With a muted export performance in September, the trade figures have raised concerns of worsening external account, especially if the global economy continues to remain sluggish.
Exports rose 2.73% in September to $28.9 billion, while merchandise imports climbed nearly 26% year-on-year to $43.2 billion, according to data released by the commerce department. While gold and oil have pushed the import bill up by 26%, exports rose a mere 2.73% in September.
During the April-September period, exports stood at $163.70 billion as compared with $153.75 billion during the corresponding period of the last fiscal. Imports were at $234.10 billion as compared with $230.48 billion last year.
Former finance minister P Chidambaram has also been proved right, yet again. He had vocally advocated against lifting the curbs on gold imports at a recent event, maintaining that the benefits accruing from restrictions would far outweigh problems like the spurt in gold smuggling.
Jim Sinclair’s Commentary
Our newest import.
Nurses: We Were Told to Call Authorities for Ebola Protocol
A statement from National Nurses United on the treatment of Dallas Ebola patient said that “nurses were asked to call the Infectious Disease Department” to learn the policies on how to treat Duncan.
The statement, which was played in its entirety on CNN on Wednesday morning, also reports that Ebola training at the hospital was “optional,” “nurses have been left to train each other,” and that nurses who interacted with Duncan simply continued treating other patients.
According to the statement, “there was no advanced preparedness on what to do with the patient. There was no protocol, there was no system. The nurses were asked to call the Infectious Disease Department. The Infectious Disease Department did not have clear policies to provide either.”
The union added that “advanced preparation that had been done by the hospital primarily consisted of e-mailing us about one optional lecture or seminar on Ebola. There was no mandate for nurses to attend training or what nurses had to do in the event of arrival of a patient with Ebola-like symptoms.” And “there was no hands-on training on the use of personal protective equipment for Ebola, no training on the symptoms to look for, no training on what questions to ask.”
The statement further says that trainings that took place after Duncan was diagnosed were “limited,” and did not include training on how to avoid contamination for all nurses. The union says “nurses have been left to train each other. Nurses have substantial concern that these conditions may very well lead to further infections of nurses or other patients.”
Ebola-infected nurse’s dog quarantined at decommissioned US naval base
One-year-old King Charles Spaniel named Bentley has been given comfortable bedding, toys and room to run around
Guardian staff and agencies
theguardian.com, Wednesday 15 October 2014 15.26 EDT
While his owner, Nina Pham, remains hospitalized with Ebola, a one-year-old King Charles Spaniel named Bentley has been temporarily moved to a decommissioned naval air base in Dallas, city officials said.
Bentley has been given comfortable bedding, toys and plenty of room to run around at the former residence of the executive officer at the decommissioned Hensley Field, city spokeswoman Sana Syed said Tuesday.
Bentley was moved Monday from Pham’s apartment to his new home, where he’ll be monitored for 21 days. Syed has been providing updates via social media on Bentley’s care after Dallas Mayor Mike Rawlings vowed to do everything in their power to care for the Texas nurse’s beloved pet.
The Dallas animal shelter, which is caring for Bentley, said on Wednesday he was “bright and alert … Looking good and happy to see us.”
Dallas city hall posted a video of Bentley in his temporary home on their YouTube channel:
There was an uproar in Spain after Madrid authorities euthanized a dog belonging to a nursing assistant sickened by Ebola. Authorities were concerned the dog might be harboring the virus.
The US Centers for Disease Control and Prevention says there have been no reports of pets spreading Ebola to people or other animals.
CIDRAP: "We Believe There Is Scientific Evidence Ebola Has The Potential To Be Airborne"
Submitted by Tyler Durden on 10/13/2014 21:46 -0400
When CDC Director Tim Frieden first announced, just a week ago and very erroneously, that he was "confident we will stop Ebola in its tracks here in the United States", he hardly anticipated facing the double humiliation of not only having the first person-to-person transmission of Ebola on US soil taking place within a week, but that said transmission would impact a supposedly protected healthcare worker. He certainly did not anticipate the violent public reaction that would result when, instead of taking blame for another epic CDC blunder, one which made many wonder if last night’s Walking Dead season premier was in fact non-fiction, he blamed health workers for "not following protocol."
And yet, while once again casting scapegoating and blame, the CDC sternly refuses to acknowledge something others, and not just tingoil blog sites, are increasingly contemplating as a distinct possibility: namely that Ebola is, contrary to CDC "protocol", in fact airborne. Or as, an article posted by CIDRAP defines it, "aerosolized."
Who is CIDRAP? "The Center for Infectious Disease Research and Policy (CIDRAP; "SID-wrap") is a global leader in addressing public health preparedness and emerging infectious disease response. Founded in 2001, CIDRAP is part of the Academic Health Center at the University of Minnesota."
The full punchline from the CIDRAP report:
We believe there is scientific and epidemiologic evidence that Ebola virus has the potential to be transmitted via infectious aerosol particles both near and at a distance from infected patients, which means that healthcare workers should be wearing respirators, not facemasks.
In other words, airborne. And now the search for the next LAKE, i.e., a public company maker of powered air-purifying respirator (PAPR), begins.
Radiation levels at Fukushima rise to record highs after typhoon
Published time: October 16, 2014 06:07
The amount of radioactive water near the Fukushima Daiichi nuclear plant has risen to record levels after a typhoon passed through Japan last week, state media outlet NHK reported on Wednesday.
Specifically, levels of the radioactive isotope cesium are now at 251,000 becquerels per liter, three times higher than previously-recorded levels. Cesium, which is highly soluble and can spread easily, is known to be capable of causing cancer.
Meanwhile, other measurements also show remarkably high levels of tritium – another radioactive isotope of hydrogen. Samples from October 9 indicate that there are 150,000 becquerels of tritium per liter in the groundwater near Fukushima, according to Japan’s JIJI agency. Compared to levels recorded last week, that’s an increase of more than 10 times.
Additionally, “materials that emit beta rays, such as strontium-90, which causes bone cancer, also shattered records with a reading of 1.2 million becquerels, the utility said of the sample,” JIJI reported.
Jim Sinclair’s Commentary
Fear of is as serious as the fact of.
As Fear of Ebola Spreads, Ohio and Texas Close Some Schools
By MANNY FERNANDEZOCT. 16, 2014
DALLAS — Officials at school districts in Texas and Ohio shut schools on Thursday after they learned that two students traveled on the Cleveland-to-Dallas flight with Amber Joy Vinson, a nurse infected with Ebola, and that an employee may have later flown on the same plane.
The superintendent of the Belton Independent School District, south of Waco, said that a student at Sparta Elementary School and a student at North Belton Middle School were on Frontier Airlines Flight 1143 on Monday.
The superintendent, Susan Kincannon, said in a statement that officials had decided to shut the two schools plus a third, the Belton Early Childhood School, so they could thoroughly clean and disinfect the schools and the buses that served them this week.
The two students were on the flight on Monday and then attended classes on Tuesday and Wednesday, the statement said. Though state and local health officials had cleared the children to return to school, their parents decided to keep them home for 21 days, the maximum incubation period of the virus.
SEC accuses high frequency trading firm of manipulating closing price of thousands of stocks
CNBC.com staff | @CNBC
The Securities Exchange Commission on Thursday charged a New York-based trading firm of manipulating the closing price of thousands of Nasdaq-listed stocks from June to December 2009.
The investigation found that Athena Capital Research used an algorithm to engage in a practice known as "marking the close," in which stocks are bought or sold near the end of the trading day to impact their closing price, a release said.
"The massive volumes of Athena’s last-second trades allowed Athena to overwhelm the market’s available liquidity and artificially push the market price—and therefore the closing price—in Athena’s favor. Athena was acutely aware of the price impact of its algorithmic trading, calling it ‘owning the game’ in internal e-mails," the SEC wrote in a release.
The SEC claims Athena developed strategies to dominate trade in the last few seconds of a trading day. These trades made up more than 70 percent of the volume of these stocks in the run-up to the close on the Nasdaq.
Without admitting or denying the findings, Athena has agreed to pay a $1 million penalty to settle the case, the SEC’s first on high frequency trading manipulation.
Isis targets Baghdad with wave of car bombs and mortar attacks killing 150
Islamic State car bombs hit Shia districts of Iraqi capital, with one attack killing 36 and wounding 98 within two hours
Catherine James in Mürsitpinar, Luke Harding and agencies in Baghdad
The Guardian, Thursday 16 October 2014 14.44 EDT
Footage from the attacks shows the extent of the damage
Islamic State militants have targeted the Iraqi capital Baghdad with a wave of devastating car bombs and mortar attacks, killing at least 150 people since Sunday, in an escalating campaign of violence and mayhem.
Four car bombs hit Shia districts of Baghdad on Thursday afternoon. At least 36 people were killed and 98 wounded within the space of two hours, Iraqi officials said. The deadliest attack took place when two parked car bombs exploded simultaneously in the northern Dolaie neighbourhood, killing 14 civilians.
In the eastern suburb of Talibiyah, a suicide bomber rammed his car into a police checkpoint, killing at least 12 people, they added. The dead included seven policemen and five civilians.
These latest attacks follow a series of dramatic advances in Iraq by Isis fighters, who have succeeded in capturing most of the sprawling Anbar province to the west of Baghdad.
In recent weeks the jihadists have taken control of the city of Hit, and have attacked the provincial capital of Ramadi, 70 miles west of Baghdad. Iraqi government troops have fallen back to an air base in the desert outside Hit.
Isis has comprehensively consolidated its grip on the Sunni area, which borders Syria, Jordan, Saudi Arabia and the governorate of Baghdad.