Markets - 7 days down for DJIA - but nothing major...

Atlanta Fed President Lockhart says keeping a close eye on asset prices as they are particularly buoyant at the moment; need to watch valuations

How much?? The chart below from the Congressional Research Service describes the costs to taxpayers of the four former presidents and one widow, Nancy Reagan, who were given pensions and benefits in fiscal year 2015. In total, taxpayers spent more than $3.2 million on the four former presidents — a tiny sum relative to the $3.7 trillion federal budget, but a healthy chuck of change to spend on people who can earn millions through speaking fees, book deals and other sources of incomes. The president’s fiscal 2017 budget requested an increase to $3.865 million to cover the costs of adding Obama as a former president.

Former Presidential Costs Table

LARRY! In acquisition news, Oracle has agreed to buy NetSuite for $109 a share, or about $9.3 billion. Larry Ellison already owned about 40% of NetSuite, so the deal will net him about $3.5 billion.
European Banking Authority (EBA) releases 2016 EU-wide stress test results: No surprise - With one exception, all banks show CET1 capital levels well above the benchmark of 5.5% used in 2014 in the hypothetical adverse scenario. This reflects the robustness of overall capital levels at the banks tested in the EBA led stress tests. (Italy's Monte Dei Paschi was the only "failure")
UBER OUT IN CHINA - Lost billions... (Approx $35billion) Didi Chuxing announced a strategic agreement with Uber under which Didi Chuxing will acquire all assets of Uber China--including its brand, business operations and data--for operation within mainland China. This landmark transaction signals a new stage in the development of China's rideshare industry.

• In exchange for the Uber China assets, Uber will receive 5.89% of the combined company with preferred equity interest which is equal to a 17.7% economic interest in Didi Chuxing. In addition, Baidu (BIDU) and other Chinese shareholders will receive a 2.3% economic interest in Didi Chuxing. Under the agreement, Didi Chuxing will also obtain a minority equity interest in Uber. Cheng Wei, founder and chairman of Didi Chuxing, will join the board of Uber. Travis Kalanick, founder of Uber, will join the board of Didi Chuxing.
• With this transaction, Didi Chuxing becomes the only company with common investment from Tencent (TCEHY), Alibaba (BABA) and Baidu.

Just to show how bad a long-term investment the some of the leveraged ETFs are - The UVXY (2X Short-term Vix) now trades at about $25.25. If you would have owned it since inception ..... See Chart

UVXY Long-Term Chart

New York Gov. Andrew Cuomo has asked the state’s Department of Corrections and Community Supervision (DOCCS) to bar registered sex offenders from playing the game Pokémon Go, citing concerns that pedophiles could use the app to find or lure victims.
- Supposedly 100 million downloads and company pulling in $10million/day -

Welcome to Zikami - The Centers for Disease Control and Prevention issued an unprecedented travel warning Monday, advising pregnant women and their partners not to travel to a small community just north of downtown Miami, where Zika is actively circulating. This is the first time the CDC has warned people not to travel to an American neighborhood for fear of catching an infectious disease, according to agency spokesman Tom Skinner. (Wynmoor specifically)

 - ZIKA: Florida public health investigators have identified 10 additional Zika cases in the Miami area, bringing the total to 14 in the first known outbreak of the virus to be caused by mosquitoes in the continental U.S., Florida Gov. Rick Scott said Monday.

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Announcing the Winner of this CTP - Pfizer (PFE)

*** NEW INTERACTIVE CHARTS ***

Current CTP - Shake Shack

 DHUnpluged CTP Cup for DJIA (DIA)

Winners will be getting great stuff like the new DHUnplugged Shirts (Designed by Jimbo)

CLICK HERE FOR MORE CHARTS ON TRADING VIEW

UPDATE - NEW ETF - Global X Millennials Thematic ETF Challenge!

The top holdings of Global X Millennials Thematic ETF (MILN) include stocks many investors would expect, such as Facebook, LinkedIn and Amazon, which take advantage of the tech tendencies of millennials. But some names might be more surprising like real estate investment trusts AvalonBay Communities and Equity Residential, and Home Depot, which could benefit from millennials moving out of the home of their parents.

We are creating the DH Old Codger Index Portfolio to compete against this new ETF to see how "old school" stocks do in comparison. Companies in our index will include:

• Devita (DVA) - Dialysis/HealthCare, Tootsie Roll (TR) - Candies, Exxon Mobile (XOM) - Oil/Energy, Sears (SHLD) - Misc. Retail
• More......

We have the performance summary running (daily and since inception of 5/6/16) - DHOCI vs. Millennials ETF Battle

DOWNGRADE: Global equities are at the upper end of their "fat and flat range," according to Goldman Sachs, who downgraded stocks to "underweight" on Monday as part of its 3-month asset allocation. The bank remains "neutral" on equities over a 12-month period and continues its "overweight" position in cash. The downgrade comes after a rally in risk assets over the past few weeks driven by the U.K.'s vote to leave the European Union on June 23 and the search for yield amid expectations of easing. But Goldman suggests equities are now expensive and with weaker-than-expected earnings growth it views this as the right time to downgrade.

Buying Spree? Verizon Communications Inc. VZ, -1.00% on Monday said it's entered an agreement to acquire Fleetmatics Group PLC  in a deal valued at $2.4 billion. Fleetmatics is a mobile workforce solutions company offering businesses the software and means to track and analyze data from their vehicles and, or drivers.

Drink Up! Scientists on opposite sides of the globe appear to be getting closer to harnessing one of red wine’s most elusive health-giving ingredients and putting it into a pill. The ingredient, resveratrol, has been touted for years for its ostensible powers to prolong life and protect against a range of ailments including heart disease, diabetes and Alzheimer’s disease. Studies pointing to those benefits have been performed in laboratories on yeast, worms, fruit flies and mice, among other organisms.

Market manipulation: Credit Suisse (CS) and Deutch Bank (DB) to be removed from Euro Stoxx 50 - nicely done index dudes!

Selective Default upgrade : S&P revises ratings/outlook on Greek banks to CCC+ from SD -- Alpha Bank (ALBKY), Piraeus Bank (BPIRY), Natl Bank of Greece (NBG / NBGGY)

More to come? Three senior Irish bankers were jailed on Friday for up to three-and-a-half years for conspiring to defraud investors in the most prominent prosecution arising from the 2008 banking crisis that crippled the country's economy. The trio will be among the first senior bankers globally to be jailed for their role in the collapse of a bank during the crisis.

Greatest job in the world? Recently,  the Washington City Paper reported on what might sound like a dream job to qualified applicants  — the Smithsonian National Museum of American History sought a "Beer Historian" for a three-year appointment.  The job came with an annual salary of $64,650, and curator Paula Johnson told the paper that "the museum is seeking someone who can 'focus and dedicate efforts towards research, documentation, and collecting American brewing history.'"

Children in the Syrian city of Aleppo are burning tires in an attempt to create a no-fly zone above the besieged city. By creating a "smoke curtain" they hope to impede visibility from warplanes that have been carrying out bombing raids.

McDonald's, which is trying to shake its image for serving processed junk food, said Monday it's eliminating some unpalatable ingredients from its most popular menu items. That includes making Chicken McNuggets and other items without artificial preservatives, and removing high-fructose corn syrup from its burger buns.

Privacy advocacy groups are sounding the alarm on LinkNYC, a network of free Wi-Fi kiosks that have been installed across New York City in the past year by CityBridge, which is a consortium of companies such as Qualcomm, CIVIQ Smartscapes, and Intersection, the latter a company in which Sidewalk Labs invested, who is part of Alphabet. ** Seems concern that user data is collected when using ***

More data: A listing has been published today on TheRealDeal Dark Web marketplace, claiming to be offering data on over 200 million Yahoo users.
- While Yahoo says it is currently investigating the breach, the listing has almost instant credibility since it's been put up for sale by the infamous Peace_of_Mind (Peace), the same hacker behind many other verified and proven breaches. If the name still doesn't ring a bell, you should know that Peace previously sold data dumps from sites such as LinkedIn, MySpace, Tumblr, Fling.com, and VK.com. In total, this hacker sold the personal details of over 800 million users, and probably more.

What is JCD writing for PCMag this week?

Trouble at the DNC - nice timing on the release of the emails by WikiLeaks. DNC Chair steps down - (but now on Clinton Campaign?)

- Can we discuss why they send emails for sensitive info that can get them in a bind?
- What is wrong with the people that write these types of things down?
- Is this a help to the Republicans?

Blame the Russians:  The FBI is investigating the cybertheft of emails from the Democratic National Committee amid concerns hackers working for Russia are attempting to use the breach to influence the presidential election.

Bernie Sanders, who lost the nomination to Hillary Clinton, told his supporters it was important to vote for her to stop Donald J. Trump. Yet many booed that sentiment, and other protesters picked up on the Republicans’ chant of “Lock Her Up.”

Looks like the RNC convention and the DNC email fiasco is lifting Trump in the polls

Latest CNN Presidential Poll

The DNC started off with a bang! Michelle Obama provided a powerful speech...

Final Roll Call - Clinton is the official Dem candidate!

DNC Roll Call Count

Yahoo! (YHOO) core assets bought by Verizon (V) for just under $5 billion. Meyers stays on....But what is the benefit for Verizon? What is Meyers going to do with a simple holding company?

Earnings this week - over 200 companies +/- from S&P 500 are reporting this week. Including Apple, Facebook and other major names - what will this do for markets?

Earnings season update - about 25% of the S&P companies have reported. Estimates are for a drop of 3.7% on a growth basis for earnings this quarter - better than the 5.5% estimated just a few weeks ago. 65% of companies have beat ES estimates and about 58% beat sales estimates. Current P/E ratio on forward basis is still high at 17.5% given conservative estimates.

Apple (AAPL) beats on EPS, in-line on revenue. All major metrics soft as compared to last year same quarter. (Stock up 6%)

(Oh - 3rd straight quarter of sales/revenue drop)

• Apple Q3 EPS $1.42 vs $1.38 Capital IQ Consensus;
• Rev $42.4 bln vs $42.10 bln Capital IQ Consensus;
• Sees Q4 rev $45.5-47.5 bln vs. $45.8 bln consensus
• Margins were better than expected which is good considering concerns about cheaper product mix

• Q3 iPhones 40.4 mln vs 40.2 mln ests vs 47.5 mln last year.
• Q3 iPads 9.95 mln vs 8.7 mln ests vs 10.9 mln last year.
• Q3 Macs 4.2 mln vs 4.6 mln ests vs 4.4 mln last year.

Twitter beats by $0.04, reports revs in-line; guides Q3 revs below consensus; Raises low end of FY16 EBITDA guidance (Stock down 10%)

Conference call notes:

• Seeing an improvement in engagement driven by product changes not associated with live content it has launched (has only done 2 events).
• DAU to MAU ratio remains stable; saw an improvement in tweet impressions.
• Focused on Live sport, news/politics/ and entertainment.
• For guidance, evaluating what has happened in July and how quarter ended; factoring in bookings and what it sees happening; launching more streaming products in September (notes only two NFL games in quarter so will not have a big impact in Q3).
• Video is now the #1 ad format in terms of revenue on TWTR. (????)

So much for breakfast all -day - McDonald's posts a rather weak quarter with tepid outlook - shares down 4%.

Have you noticed? Remember when companies were whining and complaining that currency headwinds and how they would provide "Constant Currency" comparables? Now that there is a currency tailwind over the past quarter - no one seems to be talking about the constant currency anymore.

Oil at multi-month lows -  clipping $43.

Barrons: Investors looking for safety and income have driven utility stocks to pricey levels and low yields. The rally may not be quite over yet, but don’t play chicken—it’s time to take profits.

Turkey Mess: President Recep Tayyip Erdogan’s government is detaining journalists, while others are being fired or having their credentials revoked.

Announcing the Winner of this CTP - Pfizer (PFE) Next week

Current CTP - Shake Shack

Winners will be getting great stuff like the new DHUnplugged Shirts (Designed by Jimbo)

UPDATE - NEW ETF - Global X Millennials Thematic ETF Challenge!

The top holdings of Global X Millennials Thematic ETF (MILN) include stocks many investors would expect, such as Facebook, LinkedIn and Amazon, which take advantage of the tech tendencies of millennials. But some names might be more surprising like real estate investment trusts AvalonBay Communities and Equity Residential, and Home Depot, which could benefit from millennials moving out of the home of their parents.

We are creating the DH Old Codger Index Portfolio to compete against this new ETF to see how "old school" stocks do in comparison. Companies in our index will include:

• Devita (DVA) - Dialysis/HealthCare, Tootsie Roll (TR) - Candies, Exxon Mobile (XOM) - Oil/Energy, Sears (SHLD) - Misc. Retail
• More......

We have the performance summary running (daily and since inception of 5/6/16) - DHOCI vs. Millennials ETF Battle

Nintendo (NTDOY) - company announced that the profitability from Pokemon Go will be negligent - stock tumbles.

Japan is asking for the Fukushima nuclear exclusion zone to be classified as a no-go area for Pokémon after the discovery of at least one of the game’s characters on a power station’s site. Tokyo Electric Power Company Holdings (Tepco) has requested that Pokémon Go developer Niantic and the Pokémon Company prevent Pokémon appearing in and around areas affected by the nuclear reactor meltdown in Fukushima to help prevent encouraging players to enter dangerous areas.

The highest-paid CEOs tend to run some of the worst-performing companies, according to new research. The study, carried out by corporate research firm MSCI, found that for every $100 (£76) invested in companies with the highest-paid CEOs would have grown to $265 (£202) over 10 years. But the same amount invested in the companies with the lowest-paid CEOs would have grown to $367 (£279) over a decade.

Everything has to be a movie?  Streaming service Netflix said on Tuesday it had acquired the rights to a book written by two German investigative journalists and was turning it into a feature movie to be produced by John Wells. It is the second proposed movie on the scandal that thrust tax havens and transparency into the spotlight after the details of hundreds of thousands of clients' tax affairs were leaked from Panama-based law firm Mossack Fonseca in April by an anonymous whistleblower.

Purchases of new U.S. single-family homes rose in June to the highest level in more than eight years, indicating a firm and resilient housing market. Sales increased 3.5 percent to a 592,000 annualized pace, the fastest since February 2008, Commerce Department data showed Tuesday in Washington. Figures for May were revised higher. The median forecast in a Bloomberg survey called for a 560,000 rate.

Oil - tapping $42 as price slumps to multi-week low. We are now entering the slowest time of year for oil demand.

Facebook (FB) earnings out tomorrow - does the massive ad engine start to slow? (Still do not see any ads on FB)

What is JCD writing about this week for PCMAG?

Markets unfazed by escalating violence and coup in Turkey - setting all-time highs almost daily for DJIA and SP500.

How full of shit are they? IMF's Christine Lagarde said that Turkey's central bank did a great job containing markets and currency moves in response to Coup attempt. (No! - Lira off by 4% and markets down 5%)
- Update Lira now lower than when coup was headline....
- Massive move by Erdogan govy to take control, fire judges, politicians and seek to bring back death penalty

Softbank buys ARM Holdings (ARMH) with a 45% premium. Brexit may be some of reason with BP

Netflix Q2 International Net Additions 1.52 mln vs 2.00 mln guidance; For Q3 NFLX expects addition of 2 mln, expectations were in the range of 2.70-2.85 mln; Q1 Adds was 4.51
- US Net additions only 160k
- Churn due to higher rate on older subs that got rate hike
- International lower than expected
- Company beat on EPS by $0.07 (expectations of $0.02) - guided lower than expectations
- Company commentary about why they fell short was focused on the churn (they don't expect that to continue) and also spent a lot of time trying to show that it was not competition
- STOCK DOWN 14%

IBM prelim Q2 $2.95 vs $2.89 Capital IQ Consensus Estimate; revs $20.24 bln vs $20.06 bln Capital IQ Consensus Estimate - had one segment (Watson) that showed growth.

Goldman Sachs (GS) Beat by 0.67 - however this was on lowered estimates. Looking at March estimates - company just met.. (Big revisions to estimates over the past several months to make bar lower)

Yahoo! said that its revenue in the second quarter fell 15 percent, after excluding accounting adjustments, and its operating profit fell 64 percent. Yahoo also acknowledged that Tumblr — its biggest acquisition under its current chief executive, Marissa Mayer — was now worth only one-third of the $1.1 billion that Yahoo paid for it in 2013.

Microsoft prelim Q4 $0.69 vs $0.58 Capital IQ Consensus Estimate; revs $22.64 bln vs $22.14 bln Capital IQ Consensus Estimate  - Stock up 3% after-hours

JCD Called it: British voters, it turns out, can’t actually remove their country from the European Union. Only their elected leaders can do so. Since the June 23 referendum, the debate has turned to whether the new prime minister, Theresa May, can initiate the country’s EU exit without first seeking permission from Parliament. The question has sparked what could turn into a wave of legal challenges, known as judicial reviews. The first one begins Tuesday.

More Brexit fallout: Concerns over the U.K.'s Brexit referendum significantly hampered confidence in Germany's economy in July, with the ZEW survey of economic sentiment sliding to the lowest level since 2012. The indicator slumped to negative 6.8 points, down from 19.2 in June.

Big trouble at RNC - Seems that there was some plagiarism:

Here is Trump, on Monday:

"From a young age, my parents impressed on me the values that you work hard for what you want in life, that your word is your bond and you do what you say and keep your promise, that you treat people with respect. They taught and showed me values and morals in their daily lives. That is a lesson that I continue to pass along to our son," Trump said.

And we need to pass those lessons on to the many generations to follow. Because we want our children in this nation to know that the only limit to your achievements is the strength of your dreams and your willingness to work for them."

And here is Obama, on August 25, 2008:

"And Barack and I were raised with so many of the same values: that you work hard for what you want in life; that your word is your bond and you do what you say you're going to do; that you treat people with dignity and respect, even if you don't know them, and even if you don't agree with them.

And Barack and I set out to build lives guided by these values, and to pass them on to the next generation. Because we want our children -- and all children in this nation -- to know that the only limit to the height of your achievements is the reach of your dreams and your willingness to work for them."

Announcing the Winner of this CTP - Nike (NKE)

Current CTP - Pfizer (PFE)

Winners will be getting great stuff like the new DHUnplugged Shirts (Designed by Jimbo)DHU's Official Model - Vivi Jugo

UPDATE - NEW ETF - Global X Millennials Thematic ETF Challenge!

The top holdings of Global X Millennials Thematic ETF (MILN) include stocks many investors would expect, such as Facebook, LinkedIn and Amazon, which take advantage of the tech tendencies of millennials. But some names might be more surprising like real estate investment trusts AvalonBay Communities and Equity Residential, and Home Depot, which could benefit from millennials moving out of the home of their parents.

We are creating the DH Old Codger Index Portfolio to compete against this new ETF to see how "old school" stocks do in comparison. Companies in our index will include:

• Devita (DVA) - Dialysis/HealthCare, Tootsie Roll (TR) - Candies, Exxon Mobile (XOM) - Oil/Energy, Sears (SHLD) - Misc. Retail
• More......

We have the performance summary running (daily and since inception of 5/6/16) - DHOCI vs. Millennials ETF Battle

Nintendo (NTDOY) - some discussion that ZAGG would be a beneficiary of the Pokemon craze.... Connection? Stock was up 11%, filled gap today then retreated.

ZAGG Chart

More: McDonald’s Holdings Co. (Japan) saw its shares jump as much as 23 percent, the biggest daily gain since its July 2001 listing after it started giving away figurines based on Pokemon characters such as Pikachu with sales of Happy Meals on Friday. Nintendo Co.’s mobile game Pokemon Go, which has sparked a worldwide frenzy, still isn’t available in Japan where the cartoon series was first created.

NTDOY Updtae: (We shorted for client portfolios today - closed soon after as it filled lower gap for 8% profit)

Russian track-and-field athletes had already been banned from this summer’s Olympics for using performance-enhancing drugs. On Monday, the World Anti-Doping Agency released a report on the alleged state-run doping scheme at the 2014 Sochi Olympics. No surprise, perhaps. Now Curling, Beach volleyball and ..... Ping-pong!

Herbalife (HLF) - FTC out with "verdict" on the Pyramid Scheme - NOT a Pyramid scheme BUT fines company $200m and mandates changes to biz practices - does this seem like the company is in the clear?
-If company needs to change the way they operate that has made them so successful for so long, will they maintain profitability?

Anything to this? : Women over 40 are having more babies than the under 20s for the first time in nearly 70 years, official figures for England and Wales show. The Office for National Statistics data showed there were 697,852 live births in 2015. There were 15.2 births per 1,000 women aged over 40, compared with just 14.5 per 1,000 women in their teens. The last time the over 40s had the higher fertility rate was in 1947, in the wake of WWII.

Still at it: Tesla Motors: Elon Musk tweets - "Will be working at Tesla on Autopilot & Model 3 today, then aiming to pull an all-nighter and complete the master product plan

Andrew was on Benzinga Pre-Market Prep Show today and will be guest on Frank Curzio's podcast next week. Also, upcoming guest this week on TDI Podcast is Dr. Daniel Crosby - Author of The Laws of Wealth

What is JCD writing about this week for PCMAG?

A teaser from Elon Musk: Master plan 2 for Tesla - Tweeted... What a master of manipulation!

Stocks up post Brexit. S&P 500 hits ALL TIME HIGH - DJIA right behind.
- Governments panic over Brexit pushed out liquidity and the potential for stimulus and now that there is not much fallout money rushing into stocks
- US 10Y bond sub 1.5%
- Commodities ramp (Gold, Silver, Copper)

Update from Myanmar - incredible trip - posted some pix on Twitter. Very poor country - highlight was cooking class on Inle River.

Interesting culture of food - most meals come with an array of salads (Penny Wort, Asparagus flower, Pickled teea leaves, tomatoes)
- AND the river is like a giant hydroponic garden for most vegetables.

Key Reversal Indicator flashing a warning sign that an imminent move lower is possible (may be shallow but market well overbought)

KRI Indicator

Pokeman GO app is something of a phenomenon. Going to be lots of injuries with this augmented reality app.
-A man has suffered the full pains of Pokemon Go after accidentally becoming the owner of a gym. Boon Sheridan woke up to find that the hugely popular augmented reality game had decided that his house was one of the game’s important gyms. That means that people are rewarded for coming to it in real life – resulting in what he said was dozens of people outside his door.

AND: At least one military base is warning service members against the dangers of wandering into unauthorized areas while chasing Pokemon. "Since Pokemon Go hit last week there have been reports of serious injuries and accidents of people driving or walking while looking at the app and chasing after the virtual Pokemon," says the message posted this morning to the Joint Base Lewis McChord official Facebook page. "Do not chase Pokemon into controlled or restricted areas, office buildings, or homes on base."

** Will the app be another way for advertising as perhaps the places that have the things to find pay to get on the game? (That is genius)

In a recent development, Intel is jotting down the options for Intel Security and it might plan to sell the Antivirus maker software formerly known as McAfee. Six years ago, the same software maker was bought by Intel for $7.7 billion. Even though Intel has declined to offer any clarity on the issue, people who are part of the ongoing discussion have indicated that the Silicon Valley chipmaker might be considering options for selling their cyber security unit to bankers, and if at all the deal is materialized, it’d be one of the largest within the sector.

SBUX - The coffee chain will boost prices on selected coffee beverages at company-operated U.S. stores, effective today. Starbucks said certain sizes of brewed coffee will see increases of 10 cents to 20 cents per cup.

Seagate is cutting 6,500 jobs or about 14 percent of the hard disk drive maker's global workforce. That announcement comes only a few weeks after Seagate announced it would reduce 1,600 jobs. Seagate also boosted its revenue guidance for the quarter that ended July 1, saying demand for its drives was strong.

The bottom line of the state of global finance:

US officials refused to prosecute HSBC for money laundering in 2012 because of concerns within the Department of Justice that it would cause a "global financial disaster", a report says. A US Congressional report revealed UK officials, including Chancellor George Osborne, added to pressure by warning the US it could lead to market turmoil. The report alleges the UK "hampered" the probe and "influenced" the outcome. HSBC was accused of letting drug cartels use US banks to launder funds.
- The bank, which has its headquarters in London, paid a $1.92bn (£1.48bn) settlement but did not face criminal charges. No top officials at HSBC faced any charges.

Can we talk about the rash of violence that is happening all over the world?

Still don't get it - Twitter is set to live-stream some of Bloomberg LP's television programs, the latest in a series of content deals struck by the microblogging service this year. (are they going to be another TV ?)

Announcing the Winner of  (none this week)

Next CTP - Nike (NKE) - Winner announced next week

Winners will be getting great stuff like the new DHUnplugged Shirts (Designed by Jimbo)DHU's Official Model - Vivi Jugo

UPDATE - NEW ETF - Global X Millennials Thematic ETF Challenge!

The top holdings of Global X Millennials Thematic ETF (MILN) include stocks many investors would expect, such as Facebook, LinkedIn and Amazon, which take advantage of the tech tendencies of millennials. But some names might be more surprising like real estate investment trusts AvalonBay Communities and Equity Residential, and Home Depot, which could benefit from millennials moving out of the home of their parents.

We are creating the DH Old Codger Index Portfolio to compete against this new ETF to see how "old school" stocks do in comparison. Companies in our index will include:

• Devita (DVA) - Dialysis/HealthCare, Tootsie Roll (TR) - Candies, Exxon Mobile (XOM) - Oil/Energy, Sears (SHLD) - Misc. Retail
• More......

We have the performance summary running (daily and since inception of 5/6/16) - DHOCI vs. Millennials ETF Battle

Lawyers filed a $1 billion lawsuit against Facebook Inc., alleging it allowed the Palestinian militant Hamas group to use the platform to plot attacks that killed four Americans and wounded one in Israel, the West Bank and Jerusalem. “Facebook has knowingly provided material support and resources to Hamas in the form of Facebook’s online social network platform and communication services,” making it liable for the violence against the five Americans, according to the lawsuit sent to Bloomberg by the office of the Israeli lawyer on the case, Nitsana Darshan-Leitner.

Have you seen this survey? Seems bogus...  GOBankingRates.com survey that over 62% of Americans do not even have $1000 in their savings account.

Venezuela:

Citi is planning to shut down the Venezuelan government's foreign currency accounts, according to Venezuelan President Nicolas Maduro. Citi has not made any official announcement, but Maduro criticizes the move as a "blockade."

Kimberly-Clark's plant in Venezuela will be taken over and re-activated by the government, according to the country's labor minister. The U.S. consumer products company said Monday it was suspending operations at the plant due to deteriorating economic conditions and a shortage of raw materials.

Mexican President Enrique Peña Nieto was clear and blunt in his view of Donald Trump's proposed wall on the U.S. and Mexican border: There's no way his country is paying for it.

Elon Musk has no plans to disable Tesla’s Autopilot function in the wake of a fatal crash of a Model S electric car. The auto maker instead plans to redouble efforts to educate customers.

Germany Europe's growing army of robot workers could be classed as "electronic persons" and their owners liable to paying social security for them if the European Union adopts a draft plan to address the realities of a new industrial revolution.

PARTY! TMZ is claiming the former NBA star Lamar Odom had to be taken off a Delta Airlines flight leaving Los Angels on Monday night after getting drunk in the airport lounge and vomiting on the plane.

Jeep will resume production of the classic Wagoneer and Grand Wagoneer model after 2019 as the brand's luxury "pinnacle," Jeep boss Mike Manley told industry trade magazine Automotive News.

What is JCD writing about this week for PCMAG?

Brexit - Brexit - Brexit
- JCD explanation of what happened.
- Is it true the most Google'd term in UK is "What is the European Union"  ??
- Listen to latest No Agenda show for amazing coverage - Open the Chunnel! [LINK TO MP3] - Can it be reversed? (U.K. politicans say NO!)

Markets plunged around the world - MSCI Global equity index down 5% Friday, another 2% today
- Us markets hit with DJIA down 600, S&P 500 down 4% and small caps down 4.5%
- U.S. equity futures were locked down limit for about 30 minutes after the vote counted.
- S&P cuts UK rating to AA from AAA; Outlook Negative
- Crude oil down 5%, Gold up 5%

Currencies were whipped around - British pound - 7.5%, Yen +3% (clipped 100) , Euro -3% (1.10)

European banks hammered - down 15% - 25%
- DB (-17%), SAN (-19%), RBS (-27%) , LYG (-23%), BCS (-22%) , BBVA (-19%)

US Major banks
- JPM (-7%) , BAC (-7%), MS (-10%), GS (-7%)
- Smaller regions did much better

European Insurers also slammed
- ING (-19%), AV (-21%), ALIZF (-13%)

US Airlines
- DAL (-8%) , AAL (-11%)
- Smaller regions did much better

Over $2 trillion lost over past couple of days in markets - worst day ever loss in $ terms ....

Let's take a look how European markets did on Friday - (ETFs)

Europe ETfs

Time to buy some of these beaten down names????

(Trading in Barclays and RBS shares was suspended on Monday morning following heavy losses on the London Stock Exchange.)

What is the chance that the Brexit will now cause further European Union referendums to exit.

You have to love the commentary coming out of the "experts" in high places:

- IMF's Lagarde: "Markets got Brexit vote it wrong, but don't panic"

Where does market go from here? Looking at fundamentals value could be seen at 1,930 - 1950 on S&P 500. Already DJIA is down 900 points since Friday.

**** US 10-year treasury at 1.45%  - LOWEST ON RECORD **** 

This week:

- Tuesday, an E.U. leadership summit begins in Brussels; the Conference Board presents its June consumer confidence index; the April Case-Shiller home price index appears; the BEA issues its final estimate of Q1 GDP; and Nike reports quarterly results.

- Wednesday, Federal Reserve chair Janet Yellen, European Central Bank president Mario Draghi, and Bank of England governor Mark Carney take part in a panel discussion at an ECB forum in Portugal; Wall Street will also pay attention to May pending home sales, May personal spending figures, and earnings news from General Mills, Monsanto, and Pier 1.

- Thursday, a new initial claims report complements earnings from ConAgra Foods, Constellation Brands, Darden Restaurants, and Paychex.

- Friday, investors consider ISM’s June U.S. manufacturing PMI and China’s latest factory PMI reading.

** During the market swoon on Friday, some interesting things occurred. Once in particular - Betterment (pure roboadvisor) shut down trading until early afternoon.
--- So many emails over past year about companies like Robinhood or Betterment as they are cheap and app based. Anyone learning a lesson on this? Will this show that it pays to pay for some help from a human?

On Twitter - someone asked if anyone has hear from the Queen on Brexit - I think I saw a comment: Brexit: Why Yes! I will have truffled eggs, a buttered muffin with gooseberry jam and tea - two lumps"

Announcing the Winner of Biogen

Next CTP - Nike (NKE) - Open for entries

Winners will be getting great stuff like the new DHUnplugged Shirts (Designed by Jimbo)DHU's Official Model - Vivi Jugo

**** Getting many requests from listeners that they want to BUY the shirt ******

UPDATE - NEW ETF - Global X Millennials Thematic ETF Challenge!

The top holdings of Global X Millennials Thematic ETF (MILN) include stocks many investors would expect, such as Facebook, LinkedIn and Amazon, which take advantage of the tech tendencies of millennials. But some names might be more surprising like real estate investment trusts AvalonBay Communities and Equity Residential, and Home Depot, which could benefit from millennials moving out of the home of their parents.

We are creating the DH Old Codger Index Portfolio to compete against this new ETF to see how "old school" stocks do in comparison. Companies in our index will include:

• Devita (DVA) - Dialysis/HealthCare, Tootsie Roll (TR) - Candies, Exxon Mobile (XOM) - Oil/Energy, Sears (SHLD) - Misc. Retail
• More......

We have the performance summary running (daily and since inception of 5/6/16) - DHOCI vs. Millennials ETF Battle

Podcast awards update ? NO AGENDA WINS!!!!!!!! (News category)

Hate crimes n the rise post-Brexit vote - what is that all about?

Barron's cover this week - U.S. companies depend on domestic customers, which helps to insulate them from problems abroad. (some truth to that....but not in all cases)

Chinese authorities will require Baidu Inc. and other search engines to report banned content and verify advertisers’ qualifications in its latest attempt at Internet regulation. Under rules to take effect Aug. 1, search engines operating in the country will be prohibited from providing banned information in various formats including links, summaries, cached pages, associative words, related searches and relevant recommendations, the Cyberspace Administration of China said in a statement. They will also be required to report websites and applications that contain prohibited content when spotted, the regulator said.

Sad: New York’s landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums, said a person with knowledge of the plans.

Hawaii's governor signed a bill making it the first state to place its residents who own firearms in a federal criminal record database and monitor them for possible wrongdoing anywhere in the country, his office said.

Watch China currency - lowest in years as safe haven trades are preferred.

What is JCD writing about this week for PCMAG?

Sponsor: This episode is sponsored by YestoBitcoins.com

Markets in a bit of a tailspin after the latest Brexit poll. With the Fed meeting this week - is this just a way of pressing on the Fed to not do anything?

Retail sales for May came in slightly better than expected, but still nothing to get too excited about.
- U.S. luxury fashion retailer Neiman Marcus Group Ltd LLC reported its third straight quarterly drop in sales at established stores and a nearly 81 percent fall in profit amid a slowdown in apparel spending.
- What is going on with higher end retail ???

The VIX - skyrocketing - 50%+ over past few days to a high of over 21 today. Was under 13 last week. The last time  we saw this lvel was back in February as markets were being sold off in a hard correction. Moves like this often signal bottoming potential as many are seeking to buy protection at any price.

Microsoft (MSFT) buying LinkedIn (LNKD) for 50% premium - about $25 billion. Any other targets?
- LinkedIn down 13% YTD even after the $196 price paid...
- Twitter shares surge on the report as hope is alive that they will become a target for acquisition

Brexit - the polls now show a lead to the LEAVE side of things - markets are moving along with every headline. Some listener emails about what will benefit and what will see more problems.

Apple WWDC - anything exciting???? Stock did not price as anything was incrementally beneficial....

MAC

• Mac OS will feature universal clipboards for copying and pasting across devices.
• Mac OS will allow desktop saved files available for download from iPhone and iPad.
• Mac OS will feature Apple Pay for the web.
• Mac OS will feature SIRI for Mac

TV

• Apple TV now has 1300 video channels.
• Will feature ability to watch 4 sports games at one time through Fox Sports Go (FOXA).
• Apple TV will feature Sling TV with many cable channels.  (DISH, NFLX)
• Apple TV introduces TV remote applications where you can change channels from iOS device without reaching for Apple TV remote.
• Apple TV will feature 'Dark Mode'
• Apple TV OS will available this Fall.

Watch

• New WatchOS accelerates application launch time.
• New WatchOS will feature a 'dock' feature for recently used apps on the Watch.
• Will have feature to reply to messages without tapping reply.
• New WatchOS will allow users to write on the screen.

After a seemingly interminable wait, the yield on Germany's 10-year sovereign debt has dropped below zero for the first time. The shift into negative territory is part of a continuing trend across global markets that has seen record low yields and surging volatility in developed market sovereign debt.

Investors will be watching China as MSCI Inc. is set to announce early Wednesday local time whether they are going to include mainland shares in their global benchmark indices. NO! Declined for the second time around. MSCI said China had made "significant steps" towards bringing the market "closer to international standards".
- However, the US financial data firm said its "extensive global consultation" showed that Beijing had not addressed all its concerns over barriers to foreign investors.
- MSCI added that it would retain the option to include the A-shares as part of its next market classification review in 2017.

More tech nonsense - Twitter invests $70 million into Soundcloud.

"Use your bitcoins to to get gift-cards for stores in North America, Europe or Asia at YesToBitcoins.com . We have been accepting bitcoins as payment, for gift-cards since 2014.
Go to YestoBitcoins.com

Check out YestoBitcoins.com

Announcing the Winner of Fitbit (FIT)

Currently CTP = Biogen (BIIB)

Winners will be getting great stuff like the new DHUnplugged Shirts (Designed by Jimbo)DHU's Official Model - Vivi Jugo

UPDATE - NEW ETF - Global X Millennials Thematic ETF Challenge!

Since inception - withing 2 basis points of each other.....

- Neck and neck since inception - Ole Codger's Portfolio slightly ahead....

The top holdings of Global X Millennials Thematic ETF (MILN) include stocks many investors would expect, such as Facebook, LinkedIn and Amazon, which take advantage of the tech tendencies of millennials. But some names might be more surprising like real estate investment trusts AvalonBay Communities and Equity Residential, and Home Depot, which could benefit from millennials moving out of the home of their parents.

We are creating the DH Old Codger Index Portfolio to compete against this new ETF to see how "old school" stocks do in comparison. Companies in our index will include:

• Devita (DVA) - Dialysis/HealthCare, Tootsie Roll (TR) - Candies, Exxon Mobile (XOM) - Oil/Energy, Sears (SHLD) - Misc. Retail
• More......

We have the performance summary running (daily and since inception of 5/6/16) - DHOCI vs. Millennials ETF Battle

Dead or not? The two largest daily fantasy sports companies, FanDuel Inc and DraftKings Inc, are in early-stage talks to merge, people familiar with the matter said on Monday, as the industry faces a crackdown by U.S. states over whether it runs illegal gambling.

OOPS! A Goldman Sachs executive footed the bill for prostitutes and the bank paid for a lavish trip to Dubai for the brother of a decision-maker at Libya's sovereign wealth fund, a lawyer for the fund alleged on Monday, in a case it has brought against Goldman in London's High Court.

In the wake of the Orlando massacre at popular nightclub Pulse, where 49 people were pronounced dead, a local Chick-Fil-A opened up on a Sunday to cook up hundreds of their famous chicken sandwiches and batches of their sweet tea.

Back to nuclear? The Tennessee Valley Authority's (TVA) Watts Bar Unit 2 was connected to the power grid on June 3, becoming the first nuclear power plant to come online since 1996, when Watts Bar Unit 1 started operations. Watts Bar Unit 2 is undergoing final testing, producing electricity at incremental levels of power, as TVA prepares to start commercial operation later this summer. The new reactor is designed to add 1,150 megawatts (MW) of electricity generating capacity to southeastern Tennessee.

More than 45,000+ people are currently on the wait list to eat a meal, naked,at London's much-anticipated The Bunyadi (aka the "naked restaurant"), which officially opens this month.
- Once diners get inside, remove their clothes and relinquish their smartphones, they will chose between two menus: naked non-vegan and naked vegan. The former features goji berry steak tartare with stinging nettle oil and cured salmon with seaweed salad. The latter features a sweet and salty "forage plate" and an asparagus dish with salted almonds, pickled red onion and melon. Both go for £69, which also gets you a robe and slippers. Wine (which you will probably need a lot of) is extra.

So what do we think of Soros and Ichan now? Are they right to be so pessimistic?

Appears that Russian hackers hacked the DNC site/info bank and stole info on Trump. How will that be used?

What is JCD writing about this week for PCMAG?

Last week was a good week for markets ahead of some key reports and a holiday shortened trading week. DJIA up 2%, NASDAQ up 3.4%! Some better then expected economic reports, a more hawkish Fed. But could it be that the move to postpone any Greek debt write-downs for a few years AND postpone the tax hike in Japan was more beneficial to markets? Or maybe oil hitting $50 for the first time since November 2015.

DJIA up for 4 months in a row - first time since 2014!

Trial balloons by Fed and government - thoughts on that as a method of molding markets.

Crawfish Boil and BBQ last weekend at Andrew's house - Pix:

Crawfish Party 1

Crawfish Party 2

Even with the uneven housing recovery, there has been some slow, but steady improvement and last week we saw some really good reports:

- A 16.6% jump in new home sales in April, putting them at an 8-year peak.
- Housing contract activity surged 5.1% last month, according to the National Association of Realtors, reaching a level unseen since February 2006

GDP - 2nd estimate of the 1st Quarter 2016 activity was revised up (we see this many times that revisions are often to the upside). Still sluggish at 0.80% versus the estimate of 0.50% on an annualized basis.
- Some important takeaways from the GDP Report:
- Net exports continue to slide to the lowest levels in years and years
- Personal consumption is not picking up - which could explain some of the retail sales weakness
- The upward revision had a good bit to do with the change in private inventories

Barron's cover-page this week - contrary-indicator or?

Barron's Cover

Hackers infiltrated Time Inc.’s Myspace social network and published user data on an online forum shortly before Memorial Day weekend, the company said Tuesday. The data stolen includes e-mail addresses, user names and passwords for accounts created prior to June 11, 2013 on the old Myspace platform, according to a statement. The breach doesn’t affect any Time Inc. information or financial data, the New York-based publisher said.
- Why is the "old" platform still active and accessible?
- Why is any MySpace platform still active?  Has anyone seen this lately? What is the purpose --> www.myspace.com

ANNOUNCING THE WINNERS of the
DHUnplugged Closest to the Pin Contest for Intel (INTC)

Currently CTP = Fitbit (FIT)

Winners will be getting great stuff like the new DHUnplugged Shirts (Designed by Jimbo)DHU's Official Model - Vivi Jugo

UPDATE - NEW ETF - Global X Millennials Thematic ETF Challenge!

The top holdings of Global X Millennials Thematic ETF (MILN) include stocks many investors would expect, such as Facebook, LinkedIn and Amazon, which take advantage of the tech tendencies of millennials. But some names might be more surprising like real estate investment trusts AvalonBay Communities and Equity Residential, and Home Depot, which could benefit from millennials moving out of the home of their parents.

We are creating the DH Old Codger Index Portfolio to compete against this new ETF to see how "old school" stocks do in comparison. Companies in our index will include:

• Devita (DVA) - Dialysis/HealthCare
• Tootsie Roll (TR) - Candies
• Exxon Mobile (XOM) - Oil/Energy
• Sears (SHLD) - Misc. Retail
• McDonald's (MCD) - Fast Food
• Goldman Sachs (GS) - Financial
• Altria (MO) - Cigarettes
• Kroger (KR) - Food Market
• More......

We have the performance summary running (daily and since inception of 5/6/16) - DHOCI vs. Millennials ETF Battle

Let's read through this story slowly:

A former director at Barclays Plc was arrested on Tuesday on U.S. charges that he provided inside information about impending mergers he learned about at the bank to a plumber, who used the tips to make $76,000 illegally. Steven McClatchey, 58, was charged in a criminal complaint filed in Manhattan federal court with conspiracy, wire fraud and securities fraud after the plumber, Gary Pusey, secretly pleaded guilty on Friday and agreed to cooperate with authorities.
In exchange, Pusey paid thousands of dollars in cash to McClatchey, sometimes placing cash in a gym bag that McClatchey brought with him to a marina in Freeport, New York, and provided free bathroom remodeling services, authorities said.

Oil trying again for that $50 mark - keeps hitting and failing. Supplies coming down as production offline..

Some good news on the spending front - April spending on Month-over-Month basis was up 1% - better than estimates. Also, housing prices came in 5.4% higher on Year-over-Year basis. However, May consumer confidence dropped a bit to 92.6 versus estimates of 96. MIXED MESSAGES!

SodaStream (SODA) stock was left for dead as the company's products were not going anywhere. Now the company launched a new home brew beer system  and stock got some legs - ($13.50 - $21 recently)
-- The system will launch in Europe first, and is currently available on Germany's online store and at retailers in Switzerland. Other markets will launch in 2016 and 2017. The Beer Bar will allow users to make home-crafted beer "in seconds" using sparkling water and a beer concentrate. How will that taste? Why not just drink the concentrate? (Cost $5 /3 liters of beer)
-- There are other companies that make the concentrate already (Pat's) and can use carbonated water

SodaStream Beer

Starbucks Corp. (SBUX) said Tuesday that it was adding new cold coffee offerings, including Nitrogen-infused coffee in major U.S. cities, as the coffee maker tries to increase its summer-weather drinks and compete with specialty shops. The company’s “Nitro Cold Brew,” which infuses nitrogen into its slow-steeped, cold-brewed coffee, imparts a “smooth and creamy sweetness, “ the company said. Similar offerings, which are typically delivered from a beer-like tap, have been rolled out in recent years at specialty coffee shops like Stumptown Coffee Roasters.

Finally! The Securities and Exchange Commission is taking another step to crack down on corporate use of numbers that the agency fears deceives investors. The SEC’s Division of Corporation Finance is forming an internal task force to closely review the use of “non-GAAP” numbers and whether companies respond to recently updated guidance on using these metrics. The focus of this new initiative is on companies that use non-GAAP metrics to tell a misleading story, that give too much prominence to non-GAAP numbers, or promote non-GAAP metrics that exclude relevant, recurring costs. [LINK]

HOW? Core Media Group filed for Chapter 11 bankruptcy protection on Thursday, saying it has not yet found a way to replace revenue earned from "American Idol."

Jose Cuervo, the world’s biggest tequila producer, is seeking to raise as much as $1 billion in an initial public offering planned for the third quarter of this year, according to people with knowledge of the matter. (Beverage companies have been doing well of late)

Gorilla shot when toddler slips into its zoo compound. How is it possible that there are no better safeguards?

At least 2,234 Indians have contracted the deadly HIV virus while receiving blood transfusions in hospitals in the past 17 months alone. The information was revealed by the country's National Aids Control Organisation (Naco) in response to a petition filed by information activist Chetan Kothari. India has around 2.09 million people living with HIV/Aids.