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apppro’s take for 07/03/2014 04:30 pm EST

Conflict of Interest leading to #RIGGED?

                I’m sure many of you watched the GoPro IPO this week. Some pop! It sure was a winner for those who for over a decade worked their butts off to create a nice product. Congrats to them, BUT this is not what I’m writing about. Rather, it’s about the vultures that surround the IPO and the media networks giving them platforms to do so. However, in this rant I am going 1 step further and the SEC and FCC and Congress really need to look into this.

                OK, it’s no secret that so-called ‘commentators’ on CNBC, FOX, Bloomberg, etc. hype and front-run (for lack of a better phrase) and promote stocks that they own or are short or have option positions in or whatever. In and of itself I find this disgraceful. No way in heck should anyone be allowed to buy, sell, short, etc. a stock, and then have free reign to go on WORLD WIDE TV and push the heck out of their positions. There are never any fair disclosures, but even if there were it doesn’t matter – they say what they want anyway and the damage, so to speak is already done. Not only do listeners react to this (Just go back to when Cramer first started doing his show and how he had to warn people not to buy or sell when he talks!), but now we have #HFT ‘seeker’ algo’s listening to! For the past few weeks leading up to and now during the GoPro IPO, how many times – hundreds? – of times did not only the reporters mention GoPro, but so did these traders that disguise themselves as ‘commentators’. This is an outrage and why the SEC hasn’t stopped it is an outrage! #RIGGED

                Fine, we’re all use to it, so it’s OK. Well, I’m NOT! I even had Twitter exchanges with a few of them. Some even admitted freely on TV– after it went public of course – that they had gotten in on the IPO and that they were flipping out. This was after weeks of hype! Again a disgrace!

                However, this week I got a NEW REVELATION! The day of the IPO, during a segment on how much GoPro had popped and how much $money$ Venture Capitalist VC’s were making on the IPO; a female reporter (I won’t mention names.) said that even Comcast was NOW into VC investing. I was getting the distinct impression that she seemed to indicate that Comcast, the owner of NBCUniversal, CNBC, and a major cable company had used VC $ in GoPro, too! Wait a friggen’ moment! The company that owns CNBC who has been hyping GoPro for weeks MAY have been a VC in the company and had a huge stake in the IPO? WHAT?! Does no one else find this wrong? Does no one ask, “Where are the glass walls?” I find it bad enough that they cross promote their reality financial TV shows on CNBC, but come on people – THIS VC & IPO LINK REALLY STINKS AND IS WHAT I TRULY CALL #RIGGED!

                Even if they were not in this specific IPO, what other IPO’s that CNBC has hyped was Comcast (Or any media outlet.) a VC in? I’m sure that this is perfectly legal but really >>> the SEC, Congress, and the rest of you do not find this at all disturbing?

#RIGGED! #RIGGED! #RIGGED! #RIGGED! #RIGGED! #RIGGED! #RIGGED! #RIGGED!

Side note: I did not include names and links cause like Dragnet “Names were changed to protect the innocent.” But any of you in the biz out there will know exactly whom I am referring to!

My “Fair Disclosure”: I have NO position in GoPro in anyway except watching with jealousy! And after the initial post above, I did find a list on Comcast VC companies. GoPro does not seem to be on the list: Comcast Ventures

 

HAPPY JULY 4TH

                And heaven help us all, because on July 17th CNBC sponsors the World’s greatest example of “Front-running” and hype known to the financial world.

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apppro’s take for 06/28/2014 09:30 am EST

The MUST read SEC letter!

Final Rules Relating to Cross-Border Security-Based Swap Activities

 

Commissioner Daniel M. Gallagher

Washington, D.C.

June 25, 2014

 

But the following quote is what really needs extra attention:

Title VII could have addressed the issue of transparency with a simple and clear mandate for regulatory reporting.  Such a mandate would have resulted in straightforward, smart regulation that we could have implemented four years ago.  But instead, we continue to expend our resources to establish an entirely new regulatory regime – for five percent of the derivatives markets mind you – with extensive registration and compliance requirements.  The rule we finalize today is rational and well-considered given the statutory mandate.  The Dodd-Frank Act, however, as exemplified by Title VII, is misguided and will continue to distract this agency and other important arms of the government for years to come if we let it.”

 

REPEAL FinReg NOW!

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apppro’s take for 06/21/2014 08:30 am EST

WTF Apple?

                Friday’s close brought on a flurry in TwitLand (mostly by me I think-ugh) about this:

This kind of manipulated closes and trading is outrageous and the real reason people think this market is “RIGGED”! I think it’s all about option traders placing huge gambling bets on a stock, in this case Apple closing at $91 by Friday’s close. I also believe there is orchestrated attempt by some CNBC hedgies to make their $85 puts a real money maker. Manipulating closes and using #HFT algo’s during low volume times, can cause a great deal of unwarranted damage. Hedgies then get to sell their options at huge profits while the rest of us sit there with our mouths wide open!  Immediately in after hours Friday Apple cut that flash loss in half, and that is further indication of the manipulation.

                I got a lot of flak about it just being a “rebalancing”. To be perfectly honest, whenever people have NO idea of what happened OR they are actually the ones creating these “flashes”, all I ever hear is the word “rebalancing”. Well, here’s my word for that – BULLSHIT!

                But whatever you want to call it or say caused it, I CALL UPON the SEC to look into it. Michael Lewis’s Flashboys is NOT the reason why the individual investor thinks this market is RIGGED – THE ABOVE CHART IS!

Damn it SEC – DO SOMETHING ABOUT IT!

             Let me also say as a quick add-on that the SEC and the entire market should take a NEW look at all this insane option trading. It is NO longer what it was meant to be and has just become a ‘free-for-all’ for people to gamble SHORT term in the markets and NOT invest for the LONG term in this Nation’s prosperity! Options were meant for ways for companies and large institutions to buy some insurance against their holdings in order get some stability for their investors. All that options have become are lottery tickets like people buy at their local bodega! It’s enough already – ESPECIALLY THOSE REDICULOUS “WEEKLY’S”

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apppro’s take for 06/08/2014 08:30 am EST

BTW

                Please reread the below rant on “The Spring Purge Syndrome” and you will totally understand when I say:

“I friggen’ told you so!”

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apppro’s take for 04/26/2014 11:30 am EST

The Spring Purge Syndrome

                It’s a beautiful spring day is New York City and I really want to get outside and go skating, so there really isn’t time or desire to write 6 pages of dribble like Dennis Gartman or 76 PowerPoint pages of manipulated hate-mongering like Bill Ackman; but I do want to spend a few minutes on expressing my total disgust and aggravation with this year’s YEARLY Spring Purge!

                I can’t be the only one who sees this? I know I’m not! Every April and then into May we allow a few life-sucking hedgies, narcissistic option traders from CNBC, and #HFT Fear algo’s to scare the living crap out of us with some sort of world ending Armageddon crisis in combination with a faltering economy heading towards recession. EVERY FRIGGEN’ YEAR! Stocks get sold off and flushed like used toilet paper, and mini Flashes occur all day long – day after day. It’s just totally unwarranted and sickening. How the hell does this create jobs and Middle Class—any friggen’ class—prosperity???

(Continued on page 2)

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Main Slogan: “It’s The Mentality Stupid”

A SHORT-term mentality does NOT build bridges.

A SHORT-term mentality does NOT create jobs.

A SHORT-term mentality does NOT create prosperity.

A SHORT-term mentality creates NOTHING, but uncertainty, fear, angst, and hate.

Main Principle: “It’s NOT how much you make, BUT rather how LONG it took you to make it!”

STOP the INSANITY NOW! - #StIN

Revised Tax Rules:

1. Capital gains 5+ years* - 5% tax on capital gains

2. Capital gains 2 > 5 years* ** - 15% tax on capital gain

3. Capital gains 1 > 2 years* - 35% tax on capital gains

4. Capital gains 6 > 12 months - 45% tax on capital gains

5. Capital gains under <6 months - 55% tax on capital gains

6. Most critical of all — Institute a capital gains tax of 65% on ALL short sales not directly tied to a long buy by a regulated hedge fund.

*Quasi Buffett Rule > Anyone whose main source of ‘income’ (retired persons excluded) that comes directly from capital gains, should be taxed at never less than the 1>2 year 35% rate—no matter what the cg term length.

** Dividends are taxed at this level—15%.

Main Saying: Don’t blame the Fed… it’s not their fault we allowed a few SHORT-term traders/traitors to use QE $’s to CREATE ‘put spreads’ INSTEAD of CREATING JOBS!

OPERATION DIRECT DEPOSIT

Fed SELLS longer dated Treasury’s and uses that money to buy LOCAL STATE infrastructure bonds.

Lehman’s Principle: The confidence destruction of an entire entity based on SHORT-term re-evaluation of LONG-term holdings due to unrestricted RUMORmongering and GANGshorting! Basically, taking a 30-YEAR something and basing it on a 30-SECOND whatever! End Mark-To-Market M2M!

The 6 Golden RulesUpdated 06/01/13

1. Immediately, reinstate the Up-Tick Rule.

2. Crack down on naked short selling. Require stock certificate #'s when a short sale needs to be covered, including ETF’s.

                a. Stop the shorting of ALL ETF’s. This is just legalized naked shorting—makes no sense.

3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility.

4. Have ALL ETF’s trade on a 20-minute delayed basis. Get these instruments of mass destruction back to what they were supposed to do: mimic mutual funds. NO pre or aftermarket trading.

5. End the insanity of high frequency trading #HFT. PULL THE PLUG NOW ON HFT!

6. Do something – ANYTHING to reign in the insanity and out of control gambling of the options markets. (Note: My StIN 55% Cap Gains tax UNDER 6 months would solve this!)

“EXPORT THE CRAP OUT OF NATURAL GAS!” - Tax Plan

Ţ Institute a 10% EXPORT TAX to be paid by the buyer at the point of export.

· Apply 8% DIRECTLY to paying down the deficit, ONLY.

· Apply 2% to help fund our Superfunds Cleanup.

· So that NG prices never go crazy, have that tax increase the higher NG gets. For example, if NG gets to $5.50 the tax increase to 20%, $7.50 the tax becomes 30%, ETC. Therefore the buyers wont’ want it and the prices will be held in check.

Truly the MOST disgraceful BUT truthful quote of not only 2012 but the last 10 years!

“What’s more important if you’re a hedge fund manager… making your quarter or impoverishing Europe?” 06/25/2012

 

The Most DISGRACEFUL quote of 2012, so far!

  “Carly, stop thinking about the Nation and how good it would be for SqauwkBox!” 03/22/12

The BEST quote of 2011

 “As long as people keep putting the excess money into gold, it is not going to do any good for the economy!” 04/27/11

 

The Most DISGRACEFUL quote of 2011

 PANIC… that’s what we try to bring every day here!” 09/30/11

 

The 2nd Most DISGRACEFUL quote of 2011

 "There should be a Fast Money Nobel Prize!" 10/10/11

 

In the 2012 elections vote for:

NONE OF THE ABOVE  Too late now I guess!