Over the weekend, we were surprised to read that none other than recent market cheerleader Goldman Sachs had come up with six reasons why its chief equity strategist believes the market is poised for a material draw down (read "big drop") in the coming weeks. Among these were the following:
In the aftermath of Saudi Arabia's explicit threat to sell off US Treasurys (of which according to the NYT it had some $750 billion) should the US pursue legislation that could hold it liable for the September 11 bombings, Wall Street's analysts quickly tried to calculate whether Saudi Arabia had anywhere remotely close to that amount of US paper available for liquidation.
The Iranian parliament has given preliminary approval to a bill requiring the government to sue the US for the damage that the country suffered as a result of the hostile moves by the United States over the past 63 years. According to an IRNA news agency report, the Iranian parliament conducted a preliminary voting session in Tehran on Sunday Sputnik News reports: The bill calls on the government to take legal action against the US government in an international court.
Less than a week after Reuters broke the story that the Department of Justice is probing HFT powerhouse Citadel, which admits it executes 35% of all trades by retail investors in U.S.-listed stocks, whether it is also frontrunning those orders (an allegation that many are convinced is a rock-solid fact) we find that billionaire Ken Griffin is not at all concerned about the outcome of the investigation on his core business model and is instead expanding.
One of the most popular apps these days is Snapchat. It allows the sender to set a timer for any photo dispatched via the app, so that a few seconds after the recipient opens the message, the photo is automatically deleted. The evidence of what you did at that party last night is seen and then disappears. POOF!