SPY

SPY

Gartman Buys Far Out-Of-The-Money SPY Puts

"In our retirement funds here at TGL, we have chosen to simplify our positions in that we’ve liquidated the small long position we had had in fertilizer shares and took those funds and bought more aluminium shares, while at the same time having sold more of the same out-of-the money calls against those shares. We have a very, very small position in “SPY” puts that are rather far-out-of-the-money at the moment as a bearish “punt."

Frontrunning: September 13

  • IEA Changes View on Oil Glut, Sees Surplus Enduring in 2017 (BBG)
  • Futures dip with oil as investors assess rate hike chances (Reuters)
  • Hilsenrath - Divided Federal Reserve Is Inclined to Stand Pat (WSJ)
  • 'I didn't think it was a big deal,' Clinton says of pneumonia bout (Reuters)
  • Clinton's Lead Narrows Among Independents, Voters Nationally (NBC)
  • Libor’s Reaching Point of Pain for Companies With Big Debt Loads (BBG)

Negative Rates & The War On Cash, Part 2: "Closing The Escape Routes"

History teaches us that central authorities dislike escape routes, at least for the majority, and are therefore prone to closing them, so that control of a limited money supply can remain in the hands of the very few. The existence of escape routes for capital preservation undermines the viability of the banking system, which is already over-extended, over-leveraged and extremely fragile. In the 1930s, gold was the escape route, so gold was confiscated. This time cash serves that role...

Russian Jet Flies Within 10 Feet Of US Spy Plane

A Russian Su-27 fighter carried out an "unsafe and unprofessional" intercept of a U.S. P-8 spy plane flying a "regular patrol" over the Black Sea, coming within 10 feet of the American aircraft.

Want "Unlimited Access To A Target's Mobile Devices... Leaving No Trace"? Ask NSO Group

For the affordable price of $650,000, Israeli company NSO Group will enable you to invisibly spy on 10 iPhone owners without their knowledge. The cost is a little higher for Blackberry users (5 for $500,000).. and there is a 17% maintenance fee every thereafter to ensure "leaving no traces whatsoever." Welcome to the new world of private companies selling surveillance tools to the 'average joe'...

US Journalist Arrested In Turkey After Escaping Syrian Militants' Prison

Having been imprisoned for 10 days by militants from al-Nusra Front before escaping with the aid of a “brave man on a motorcycle," an American journalist has been arrested in Turkey and charged with “violating a military zone” after she returned from war-torn Syria, US officials said on Wednesday.

"Array Of Things" Launched - Enables Chicago To Spy On Entire City

Chicago is launching a creepy new campaign to blanket the mega-city in more surveillance through its Array of Things, creating a network of (at least) 500 sensors devices that will be shared in a growing Big Data cloud. The data will be publicly ‘released’ and also shared with city officials, “policy makers”, scientists/experts, law enforcement and (surely) government agencies, all of whom will process and analyze the data.

South Africa's Largest Debt Manager Halts Loans To State Firms, Rand Tumbles

"We’ve observed recent reports that strongly hint of conflict between branches of South Africa’s government, the possible machinations of patronage networks and a seeming challenge to the National Treasury’s independence... It is difficult to make reasoned and defensible decisions to continue providing state-owned companies with additional funding using clients’ money."

Futures Flat, Global Stocks Higher As Dollar Resumes Rise

The quiet overnight market had been focused on the upcoming comments by Stanley Fischer, who is set to give a Bloomberg TV interview at 6:30am ET, where he was expected to expand on his recent hawkish comments. Heading into Fischer's appearance, the dollar strengthened, global stocks rose, oil hovered around $47, while US index futures were largely flat and Treasuries fell.