Wirecard waves: The Israel connection of Germany’s multi-billion corporate fraud
This is the best tl;dr I could make, original reduced by 81%. (I'm a bot)
Wirecard, the German payments company that collapsed last week in what has been described as one of "Europe's biggest corporate frauds of recent years," is linked to two recent major Israeli financial scandals: binary options and the ICC-Cal affair. While the prosecutors allege that Wirecard earned far less revenue than it claimed, there is evidence that at least some of the revenue it did earn came from processing payments for scams. Until March 2009, he still worked for Wirecard, as a director of its Ireland subsidiary, Wirecard Payment Solutions Holdings Limited. According to internal company documents acquired by the Financial Times, Wirecard received commissions through the end of 2017 for the processing of payments for Banc de Binary, a now-defunct Israeli binary options company that was sued by the US Securities and Exchange Commission in 2013 for illegally selling binary options to US customers. In the course of a 2018 civil lawsuit in Israel, David Cartu, owner of the Irish payment processing company Greymountain Management, disclosed documents from the company's liquidator showing that Wirecard was one of the acquiring banks that Greymountain Management used to process binary options payments. Knoechelmann pleaded guilty in November 2016 to abetting payment fraud in the ICC-Cal affair but at no point in the complaint or verdict is the name of the company or companies he represented mentioned.
Got a suspicious job offer in Limassol. Need to know a few things
Hello everyone! First, a little bit of context and presentation: I'm a young person from another EU country, with no valuable degrees or anything, so the national job market for me is pretty closed and I'm looking to find a job abroad since many companies need multilingual people. The other day I woke up with a call from a recruitment agency in Cyprus, saying that they saw my CV on an online job, described me the offer and said they would like to schedule an interview. Before the interview they sent me an email with some details about the position, salaries, all that. I should say that the interview was pretty weird to start off, as it only lasted 6 minutes before the interviewer finished it off (my interviews generally go from 20-30min). It is a costumer service job, answering calls and emails, for a CySec regulated company in the stock trading market selling binary options. From my analysis online, I understand that this can be a very shady business with lots of scam companies around. I also can't find the business center they're located in on Google Maps, the space seems empty, although that maybe due to the problems of latinizing greek, I would appreciate if someone could help me with this (I would send the address and company name by PM for privacy and fear of being falsely accusing someone). Their offer also seems a liiiiiittle bit too good and weird for me, and would appreciate your help in analysing this. 1800€ net per month, plus a big percentage of apartment expenses, all costs that are related to traveling to Cyprus are paid as well. The relocation package isn't weird per se, but from my experience it's never this good for such entry level jobs around the EU. And now the weird part: they refer a bonus program and say something like "A bonus paid every month that can go up to as much as you salary!". To me that sounds like scam-talk also used by shady recruitment agencies in my country. So, does this seem normal to you? I can't find much on these type of jobs in your country on Glassdoor, so I could use your help. Thank you in advance if you read all this! You're 5*! tl;dr: Company in Limassol offered me a nice job offer, what seems to me, to be an excellent salary to a very entry level position (read from "Their offer" in bold above). Also can't locate it or find photos of the offices online. When the aid is too much, the poor man is suspicious
Is the Dow Jones Focus Group a scam or real? Learn the TRUTH here
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simplifiedforex.com have create a fake review against all legit products and services, this Russian Mafia scumbag owner asks for money for removal of comments & keeps on selling his scammed sponsored products based on binary option.
Binary Option Scams In Canada - Two Companies Charged
Offshore scammers have their eyes on your pocket book. “[N]o business is currently registered or authorized to market or sell binary options in Canada,” the Canadian Securities Administrators said in an Investor Alert today. The risk is not merely the loss of money, CSA said. “Canadians are exposing themselves to the high risk of identity theft and fraud when signing up for these platforms that often request their credit card information,” said Louis Morisset, chair of the CSA and president and CEO of the Autorité des marchés financiers, Quebec’s secutities regulator. “The CSA warns investors that if they deal with these platforms, they risk the threat of thousands of dollars in unauthorized withdrawals on their credit cards and of being stuck with high-interest payments for a non-existent investment.” Binary options, CSA said, “are like ‘bets’ on how an asset (currency, stock, etc.) will perform in a limited amount of time – they are ‘all or nothing’ wagers, similar to gambling. However, even when investors see virtual gains, they often cannot access these profits as they don’t exist.” http://patrickpretty.com/2016/03/23/csa-no-business-currently-registered-authorized-market-sell-binary-options-canada/
I’m new and learning about strategies for selling options, I’ve been watching lots of tastytrade lately. I want to figure out a way to optimize position sizing based on my bankroll and the probabilities of profit. For anyone who knows of the Kelly Criterion or has seen their video on it, how can it be applied effectively to making trades? I’d expect that the theoretical expected value of selling options is 0 so the Kelly Criterion would be difficult to use without knowing the realized probability of profit. Any pointers?
SNAP preview, expected move and spread strike selection
Snap (SNAP) reports q2 earnings after the close Tuesday (~4:10pm)
Options are pricing an expected move of 12% by this Friday. That is the bulk of the move expected over the next month, which is about 15%.
Snap closed higher by about 36% in the day following its most recent earnings (in April)
Snap has beaten consensus estimates 7 out of the last 8 times.
https://preview.redd.it/d5e4r4ho28c51.png?width=583&format=png&auto=webp&s=9790a1e378ed329c5d66910d814093260814f70d Neutral - The first thing to look at is a neutral position, selling to both the bulls and the bears. Here are two neutral trades setting breakevens at or near the expected move. First selling the +21.5/-22.5/-28/+29 Iron Condor(condor chart) In this case the risk reward is $56 to make $44. If the stock closes anywhere between 22.5 and 28 on Friday it is a max gain. Any close beyond 21.5 or 29 and a max loss. The breakeven is 22.06 on the downside and 28.44 on the upside. That trade establishes a range of max profit, for those targeting no move at all, with the stock remaining at 25 selling an Iron Butterfly has max profit at the 25 level with profits trailing off towards the expected move and losses beyond: Fly chart Both of these trades are binary, isolating this week and what is likely to be a mostly one day move tomorrow. Bullish - For those thinking directionally the expected move can be used to help determine strike selection. Here's a bullish price target looking out a bit further in time, to August expiration: Trade comparison. In this case both the August long call spread (+25/-29) and the August short put spread (-25/+21) take advantage of multi leg strike selection based on the expected move. The short put spread is "selling to the bears" and is profitable from 22.57 and higher with a max gain if the stock is above 25 on August expiration. The long call spread has a higher breakeven, but by selling the 29 call at a high upside volatility, is much cheaper than an outright 25 call. Bearish - The same is true for a bearish target in line with the expected move but the short call spread is at a slight disadvantage due to having to buy the upside call at a similar or higher IV than the at the money call sale: Trade comparison Full post here.
*These are preliminary Patch Notes and changes may still happen until the launch of Title Update 10.
New Season – Keener’s Legacy
A new season is almost upon us! Starting on June 23rd, Keener’s Legacy offers 12 weeks of in-game activities and unique rewards. Season 2 brings a new Seasonal Manhunt, new Leagues, a new Global event and new unique rewards, as well as an Apparel Event.
New Manhunt tasking you to take on 5 rogue agents over a 12-week period starting June 23rd. Bring down all five to unlock the new Healing Trap skill variant.
New Global Event Hollywood
New Apparel Event Phoenix Down
New Leagues Termite, Luna, Huntsman and Titan.
2 new Exotics
1 new Gear Set
2 new Named Weapons
2 new Named Gear
1 new Brand Set
Participating in the activities above will earn players Season experience contributing to their Season level.
Playing Conflict will contribute XP by gaining Conflict Levels beyond 30.
Playing in the Dark Zone will contribute XP by gaining DZ Levels beyond 30.
New Raid - Operation Iron Horse
The True Sons have taken over a Foundry to develop new weapons and threaten to destroy everything the Division has worked for.
New bosses, puzzles and rewards!
Level 40 version available on June 30th, followed the next week by the level 30 version.
Discovery mode will become available at a later date.
2 new Exotics
2 new Gear Sets
New cosmetic rewards
Further details will become available closer to the raid’s release in late June.
Balance and Bug Fixes
Title Update 10 is bringing our first large balance pass following the release of Warlords of New York. Beyond the addition of new content, the update focuses on three main aspects mainly game health through bug fixes and balancing, generosity by increasing your chances to receive a high-quality item as loot and increasing overall player power. Scroll down for a full list of bug fixes, balancing changes and gameplay tweaks.
Missing Localized Audio
We wanted to inform you about an issue with localized audio that will be present when we launch Title Update 10 and Season 2. While the team was able to work from home to get this update ready, with your help testing the content on the PTS, we unfortunately were not able to record all localized audio content for TU10. With everything going on in the world, our top priority is the well-being of our teams, including our voice actors. Of course, we will start working on recording the missing audio with our partners when it is safe to do so and, in some cases, we were able to get things started already. Adding the localized files to the game as soon as we can in one of our next updates is an absolute priority for the team. This only affects Seasonal content. Operation Iron Horse audio is fully localized. If you are currently playing with a non-English client, you don’t have to change anything going into Title Update 10. When localized audio is missing you will just hear the English audio instead. Subtitles have been localized and can be activated in the ingame options. As work continues, we will update you on the progress of the integration here on the forums and on State of the Game. Thank you and stay safe!
SRS Sniper Rifle: Mantis
Your scoped view displays additional information about enemies not targeting you
Your scoped view highlights enemy weakpoints
Headshot and weak point damage against enemies not targeting you amplified by 50%
Headshot kills reset the cooldown of the Decoy skill. This bonus will wait until the Decoy goes on cooldown if currently active
Status effects also apply a damage over time debuff for 10s
Total damage dealt is equal to 50% of your concussion grenade damage and increased by your status effect attributes
Double Barrel Rifle: The Ravenous (Operation Iron Horse)
On trigger-pull, fire both barrels at once
When fired from the right shoulder, hits add offensive primers, and defensive primers when fired from the left shoulder
Hits from one shoulder will detonate all of the opposite shoulder's primers when present
When detonated or affected enemy is killed, each offensive primer deals 100% weapon damage, while each defensive primer grants +4% bonus armor and +10% amplified damage to armor plates for 5s
Primer effectiveness is doubled at 10 stacks
Magnum Pistol: Regulus (Operation Iron Horse)
Headshot kills create a 5m explosion, dealing 400% weapon damage and applying bleed to all enemies hit.
High accuracy and base damage
New Gear Sets
Eclipse Protocol (Season 2)
Core: Skill Tier (Yellow)
2: +15% Status Effects
3: +15% Skill Haste and +30% Hazard Protection
4: "Indirect Transmission" Your status effects now spread on kill to all enemies within 15m and refresh 50% of the duration.
Chest talent: "Proliferation" Increases Indirect Transmission range from 15m to 20m and refresh percentage from 50% to 75%
Backpack talent: "Symptom Aggravator" Amplifies all damage you deal to status affected targets by 15%
Foundry Bulwark (Operation Iron Horse)
Core: Armor (Blue)
2: +10% Armor
3: +3% Armor Regeneration
4: "Makeshift Repairs" Whenever you or your shield take damage, 20% of that amount is repaired to both over 15s
Chest talent: "Process Refinery" Increases Makeshift Repairs from 20% to 30% over 15s
Backpack talent: "Improved Materials" Increases Makeshift Repairs speed from 15s to 10s
Future Initiative (Operation Iron Horse)
Core: Skill Tier (Yellow)
2: +30% Repair Skills
3: +30% Skill Duration and +15% Skill Haste
4: "Ground Control" Increases you and your allies' total weapon and skill damage by 15% when at full armor
When you repair an ally, you and all allies within 5m of you are also repaired for 60% of that amount
Chest talent: "Tactical Superiority" Increases Ground Control damage bonus from +15% to +25%
Backpack talent: "Advanced Combat Tactics" Increases Ground Control proximity repair from 60% to 120%
New Gear Brand
Walker, Harris & Co.
Core: Weapon Damage (Red)
1: +5.0% Weapon Damage
2: +5.0% Damage to Armor
3: +5.0% Damage to Health
New Named Weapons
Mechanical Animal (SIG 556) with Future Perfection
Weapon kills grant +1 skill tier for 19s. Stacks up to 3 times.
Weapon kills at skill tier 6 grant overcharge for 15s.
Overcharge Cooldown: 90s
Harmony (Resolute MK47) with Perfectly In Sync
Hitting an enemy grants +20% skill damage for 5s.
Using a skill or damaging an enemy with a skill grants +20% weapon damage for 5s.
Damage increases are doubled while both buffs are active at the same time.
New Named Gear
Matador (Walker, Harris & Co. backpack) with Perfect Adrenaline Rush
When you are within 10m of an enemy, gain 23% bonus armor for 5s. Stacks up to 3 times.
Chainkiller (Walker, Harris & Co. chest) with Perfect Headhunter. After killing an enemy with a headshot, your next weapon hit within 30s deals 150% of that killing blow’s damage in addition to it.
Damage is capped to 800% of your weapon damage. This is raised to 1250% if your headshot damage is greater than 150%.
New Skill Variant
The Repair Trap deploys a line of small devices capable of repairing friendlies in their proximity.
Note: The Repair Trap will not be available in-game until the Seasonal prime target unlocks in August.
Weapon Talent: Future Perfect
Weapon kills grant +1 skill tier for 15s. Stacks up to 3 times.
Weapon kills at skill tier 6 grant overcharge for 15s.
Overcharge Cooldown: 90s
Weapon Talent: In Sync
Hitting an enemy grants +15% skill damage for 5s.
Using a skill or damaging an enemy with a skill grants +15% weapon damage for 5s.
Damage increases are doubled while both buffs are active at the same time.
Backpack Talent: Adrenaline Rush
When you are within 10m of an enemy, gain 20% bonus armor for 5s. Stacks up to 3 times.
Chest Talent: Headhunter
After killing an enemy with a headshot, your next weapon hit within 30s deals 125% of that killing blow’s damage in addition to it.
Damage is capped to 800% of your weapon damage. This is raised to 1250% if your headshot damage is greater than 150%.
Reduced how many elites will spawn in the following mission:
Manning National Zoo
Coney Island Ballpark
Coney Island Amusement Park
Camp White Oak
Space Administration HQ
Federal Emergency Bunker
Added all new season 2 weapons/gear to general loot pools
Updated item power distribution to have a better spread between minimum and maximum for all difficulties
Increased minimum rolled item power for Field Proficiency/DZ caches, Clan caches and Season caches.
Regular loot from loot containers in Missions now scale with mission difficulty
Targeted loot from loot containers in Missions now scales with mission difficulty
Loot containers part of living world activities now scale with global difficulty
Increased targeted loot drop chances for all mission and Control Point difficulties
Added new season 2 brand to targeted loot rotation
Warlords of New York brands can now also show up as targeted loot in DC, including Dark Zones
Increased named item drop chance in regular Dark Zone loot
Increased named item drop chance in targeted loot everywhere
Added Warlords of New York/Season 1 Exotics (excluding The Bighorn) to targeted loot
Added Warlords of New York/Season 1 Exotics (excluding The Bighorn) to general Exotic loot pools (Heroic/Legendary/Raid/Exotic Cache)
Coyote's Mask drop from Coyote no longer has a minimum season level requirement
Removed regular weapon/gear loot containers not scaling with difficulty from Control Points
Increased the amount of scaling loot from the big Control Point reward container
Increased NPC loot drop chance for Veterans and Elites on Legendary difficulty
Crafting will now guarantee a higher minimum item power, resulting in higher overall stat rolls. An increased maximum item power also allows for better crafted items than before. The added weighting between the minimum and maximum power results in a more balanced average outcome for crafted and reconfigured items
Removed final World Tier 5 crafting bench upgrade, as its power increase is now redundant
Added Named Items to both Open World and Dark Zone vendors
Increased prices for Named Items
Increased item power for all vendors
Vendors no longer sell Superior quality items at maximum level
Added Field Proficiency cache to SHD level-up after reaching the maximum season level
Increased crafting material rewards for spending SHD level points in the Scavenging category
Added Season/SHD experience gain on Conflict level-up
Rogue Agent Encounters
Every Rogue Agent killed will now drop loot
Rogue Agent encounters no longer occur during time trials
Control Point Officers
Players revived by a Control Point Officer will now have 80% of their armor restored (Previously 0%)
Reduced the likelihood of Control Point Officers being downed in combat
Bounties acquired by speaking to characters in the open world will always be set to the difficulty at time of acquisition or higher.
This affects the Snitch and civilians rescued during the Public Execution or Rescue Living World Activities.
Scheduled bounties, such as daily and clan bounties, are unaffected.
Developer comment: Bounties acquired in the open world should always provide challenge and loot appropriate to the world they were acquired in. Upping your global difficulty now has the added benefit of improving all bounties you acquire within it.
New Season Pass Holder Project Slot.
Season Pass holders now have access to an exclusive daily mission which provides a large bonus to XP.
Weekly SHD Requisition Project Slot
Endgame players at World Tier 5 and Level 40 now have a weekly supplies donation project which rewards them with an exotic cache. (For World Tier 5 players, this replaces the previous daily SHD Requisition project.)
Legendary Mission Project
After TU10, completing any legendary mission will grant you the Weekly Legendary Mission project slot.
Completing the designated legendary mission will reward you with an exotic cache.
Developer comment: With the addition of "re-rolls" to exotics available through crafting, we created the new Weekly projects to provide a reliable supply of exotic components or exotic items.
Incoming Repairs no longer increases the amount of armor repaired by armor kits, talents or gear set effects.
Developer comment: Incoming Repairs was always meant to be the defensive attribute equivalent to Repair Skills, so that players could further enhance the amount of healing they receive from their skills, or the group's healer. Unfortunately, the underlying code prevented us from differentiating between alternate sources of armor repair, such as those from talents and gear sets like Foundry Bulwark, or Firewall's unique armor kit effect. We wanted to address this during the development of Warlords of New York, but chose to post-pone the fix in order to deal with higher priority issues at the time. We underestimated the extent to which this attribute would affect the new Warlords meta, and failed to predict the severity of degenerate gameplay it would cause when combined with certain talents or gear sets. It's important to stress that this is not a PvP-only issue, or an instance of the PvP environment affecting PvE balance. Incoming Repairs was compromising both aspects of the game, and needed to be addressed, especially considering this update coincides with the release of a new raid. Not addressing the issue would mean forcing ourselves to balance all existing and future gear and talents around the knowledge that players could potentially (read: very likely) double the amount of repairs they receive, which stifles creativity and effectively limits player choice.
1% Weapon Handling now gives 1% Weapon Accuracy, Stability, Reload Speed, and Swap Speed, up from 0.25%.
Reduced the maximum amount of Weapon Handling rolled on gear by 6%, to a maximum of 8% at level 40.
Developer comment: In the current meta, Weapon Handling on gear is considered a dead stat with no significant benefit. In TU10, equipping a piece of gear with +8% Weapon Handling will now give you:
+8% Swap Speed
+8% Reload Speed
This should hopefully make Weapon Handling a strong complimentary attribute for players looking to increase their overall accuracy/stability (bloom + recoil) and/or reload/swap speed. Making the % amount of Weapon Accuracy/Stability/Swap Speed/Reload Speed gained from Weapon Handling 1:1 will also remove another element of arcane knowledge from the game and reduce the need for additional mental math when determining whether the bonus is an upgrade or not.
Leadership: Bonus Armor increased to 15% from 12%
Spike: Skill Damage Duration increased to 15s from 8s
Reformation: Skill Repair Duration increased to 15s from 8s
Creeping Death: No Longer goes on cooldown if there are no valid nearby enemies to apply a status effect to. Status effects applied now properly copy the source status effect’s damage and duration.
Global Damage Modifiers
Reduced all PvP weapon damage by -20%
Additional Damage Modifiers
Increased MMR PvP weapon damage by 12.5%
Reduced Assault Rifle PvP weapon damage by -15%
Reduced Shotgun PvP damage by -12.5%
Reduced SMG PvP damage by -10%
Reduced Pistol PvP damage by -10%
Reduced Rifle PvP damage by -5%
_Developer comment: With TU10, there have been significant buffs made to the base damage of assault rifles, SMGs, and shotguns in particular. In order to prevent those weapons from becoming overly powerful in PvP, we’ve had to lower their PvP damage modifiers to compensate. Note: Assault rifles are still tuned to be 10% stronger than normal in PvP in order to compensate for their innate Damage to Health bonus being less useful against other players when compared to other weapon archetypes._
Specific Damage Modifiers
Increased Double Barrel Shotgun PvP damage by 16.6%
Reduced Pestilence PvP damage by -10%
Reduced Classic M1A damage by -5%
Merciless/Ruthless: “Binary Trigger” amplified weapon damage and explosion damage reduced by -50% in PvP
Dodge City Gunslinger’s Holster: “Quick Draw” damage bonus gained per stack in PvP lowered from +2% to +1%
Stacks gained per second in PvP now match the PvE value (0.5s to 0.3s)
No longer automatically applies burn status effect to the nearest enemy in range.
Now requires maintaining range and LOS (line-of-sight) for 3 seconds between the holster bearer and nearest enemy before applying the burn status effect.
Added visual UI feedback to reveal the radius of effect in PvP and an indicator for LOS between the holster bearer and nearest enemy.
Developer comment: This should help address the lack of contextual feedback in PvP, and add a much needed window of opportunity for counterplay, or potential to avoid the incoming effect entirely.
* Pestilence * Plague of the Outcast damage-over-time effect no longer triggers True Patriot’s white debuff armor repair effect. (PvP and PvE)
Developer comment: While we like to embrace emergent or unintended mechanics when the end result is unique and fun gameplay, True Patriot’s white debuff explicitly states it requires shooting the debuffed target in order to receive the armor repair effect. Pestilence’s DoT managed to bypass this restriction, making it and True Patriot (especially when combined with Incoming Repairs) scale to disproportionate levels of power when used together.
Gear Set Modifiers
Reduced the range at which marked targets can damage each other when critically hit to 15m (PvP only).
Added visual UI feedback when in range of another marked target.
Efficient: Reduced specialization armor kit bonus from 100% to 50%
Versatile: Reduced the amplified weapon damage bonus for SMGs and shotguns from 35% to 25%
Vanguard: Reduced the duration of shield invulnerability from 5s to 2s
Note: UI will still show the old duration, but will be fixed in a later update.
Specialization Modifiers * Firewall * Extracellular Matrix Mesh armor kit regen strength reduced by -50%, from 200% to 150%
Pulse now correctly reveals and highlights all players in the DZ, not just hostiles/rogues
Increased Striker Drone damage by 30%
Increased Assault Turret damage by 55%
Reduced Firestarter Chem Launcher PvP damage by -20%
Reduced Bleed damage from Stinger Hive, Mortar Turret and Explosive Seeker Mine by 75%
Increased Stinger Hive damage by 20%, scaling up to 55% at skill tier 6
Developer commentary: We want dedicated skill builds to have multiple, powerful defensive tools for area denial/control. However, the strength of bleed effects meant being hit by just 1 stinger drone, mortar, or seeker mine was nearly a death sentence for most builds. The stinger hive should now better punish players who remain within its area of effect, rather than needing to rely entirely on the excessive damage of a single bleed DoT, while allowing the hive’s drone damage to scale higher for dedicated skill builds.
AK-M – 15.8% damage increase
F2000 – 14.3% damage increase
Military AK-M – 13.2% damage increase
Black Market AK-M – 13.2% damage increase
FAL – 12.0% damage increase
FAL SA-58 – 12.0% damage increase
FAL SA-58 Para – 12.0% damage increase
SOCOM Mk 16 – 11.4% damage increase
Tactical Mk 16 – 11.4% damage increase
Mk 16 – 11.4% damage increase
AUG A3-CQC – 11.2% damage increase
Honey Badger – 10.9% damage increase
FAMAS 2010 – 10.6% damage increase
ACR – 9.7% damage increase
ACR-E – 9.7% damage increase
Military G36 – 9.5% damage increase
G36 C – 9.5% damage increase
G36 Enhanced – 9.5% damage increase
Carbine 7 – 8.7 % damage increase
Military P416 – 7.4% damage increase
Custom P416 G3 - 7.4% damage increase
Police M4 – 6.8% damage increase
CTAR 21 – 8.6% damage increase
Classic M60 – 12.5% damage increase
Classic RPK-74 – 12.4% damage increase
Military RPK-74 M – 12.4% damage increase
Black Market RPK-74 E – 12.4% damage increase
Military M60 E4 – 9.2% damage increase
Black Market M60 E6 – 9.2% damage increase
Military L86 LSW – 8.5% damage increase
Custom L86 A2 – 8.5% damage increase
IWI NEGEV – 2.6% damage increase
Stoner LMG – 2.0% damage increase
M249 B – No changes
Tactical M249 Para – No changes
Military MK46 – No changes
MG5 – No changes
Infantry MG5 – 3.2% damage decrease
Model 700 – 14.9% damage increase
Hunting M44 – 13.5% damage increase
Classic M44 Carbine – 12.5% damage increase
G28 – 11.4% damage increase
SOCOM Mk20 SSR – 9.3% damage increase
SR-1 - 8.6% damage increase
Custom M44 – 8.1% damage increase
M700 Tactical – 8.1% damage increase
M700 Carbon – 8.1% damage increase
Covert SRS – 6.0% damage increase
SRS A1 – 6.0% damage increase
Surplus SVD – 2.9% damage decrease
Paratrooper SVD – 2.9% damage decrease
UIC15 MOD – 21.6% damage increase
1886 – 21.3% damage increase
LVOA-C – 12.1% damage increase
M1A CQB – 10.7% damage increase
Lightweight M4 – 10.5% damage increase
G 716 CQB – 8.7% damage increase
SIG 716 – 6.7% damage increase
ACR SS – 3.7% damage increase
SOCOM M1A – No changes
M16A2 – No changes
USC .45 ACP - 2.8% damage decrease
Urban MDR – 5.5% damage decrease
Military Mk17 – 11.8% damage decrease
Police Mk17 - 11.8% damage decrease
Classic M1A - 12.6% damage decrease
Tommy Gun – 38.8% damage increase
PP-19 – 29.6% damage increase
Enhanced PP-19 – 29.6% damage increase
MP7 – 27.5% damage increase
MPX – 17.7% damage increase
M1928 – 20.0% damage increase
P90 – 15.6% damage increase
Converted SMG-9 – 15.8% damage increase
Black Market T821 – 15.4% damage increase
Police T821 – 15.4% damage increase
Vector SBR .45 ACP – 14.7% damage increase
CMMG Banshee – 12.5% damage increase
Police UMP-45 – 12.0% damage increase
Tactical UMP-45 – 12.0% damage increase
AUG A3 Para XS – 11.8% damage increase
Enhanced AUG A3P – 11.8 % damage increase
Tactical AUG A3P – 11.8% damage increase
Converted SMG-9 A2 – 11.6% damage increase
MP5A2 – 10.0% damage increase
MP5-N – 10.0% damage increase
MP5 ST – 10.0% damage increase
Tactical Vector SBR 9mm – 5.9% damage increase
M870 Express – 23.3% damage increase
Military M870 – 23.3% damage increase
Custom M870 MCS – 23.3% damage increase
Super 90 – 23.2% damage increase
Marine Super 90 – 23.2% damage increase
Tactical Super 90 SBS – 23.2% damage increase
SASG-12 – 21.3% damage increase
Tactical SASG-12 K – 21.3% damage increase
Black Market SASG-12 S – 21.3% damage increase
SPAS-12 – 18.6% damage increase
KSG Shotgun – 9.0% damage increase
Double Barrel Sawed Off Shotgun – Optimal Range reduced to 8m from 11m
586 Magnum – 68.8% damage increase
Police 686 Magnum – 68.8% damage increase
Maxim 9 - 23.5% damage increase
D50 – 17.5% damage increase
First Wave PF45 – 13.5% damage increase
Custom PF45 – 9.7% damage increase
Military M9 – 8.7% damage increase
93R - 7.7% damage increase
Snubnosed Diceros – 6.5% damage increase
Officer's M9 A1 – 6.3% damage increase
Diceros – 5.9% damage increase
M45A1 – 9.5% damage decrease
Tactical M1911 – 9.5% damage decrease
M1911 – 7.3% damage decrease
Developer comment: Along with the buffs to weapon damage, TU10's significant buff to weapon handling meant some exotic weapon mods no longer made sense or resulted in over tuned performance that no longer fit with the original design. We also took this opportunity to make improvements to underperforming exotic
Damage increased by +11.2%
Increased optimal range from 27m to 40m
Optics mod bonus increased from +0% to +30% Headshot Damage
Magazine mod bonus changed from +7% Headshot Damage to +10% Reload Speed
Added functionality that provides additional headshot damage, full talent is now:
When scoped, switches to semi-automatic fire mode, dealing 450% weapon damage with each shot.
(New) Headshots grant +2% headshot damage. Stacks up to 50 times. Resets to 0 at full stacks.
Damage increased by +7.8%
Underbarrel mod bonus changed from +10% Stability to +10% Weapon Handling
Damage increased by +32.8%
Optics mod bonus changed from +15% Accuracy to +15% Critical Hit Chance
Muzzle mod bonus changed from +5% Critical Hit Chance to +20% Accuracy
Underbarrel mod bonus changed from +10% Critical Hit Chance to +10% Stability
Optimal range increased by 33.3%, from 15m to 20m
Long range effectiveness increased by 19%, from 42m to 50m
Added functionality that retains your current buffs to the next combat encounter when combat ends, full talent is now:
Hitting 30 headshots grant +20% critical hit chance and +50% critical hit damage for 45s.
Hitting 75 body-shots grant +90% weapon damage for 45s.
Hitting 30 leg-shots grant +150% reload speed for 45s.
(New) Buffs refresh when out of combat.
Damage increased by +2.6%
Damage increased by +11.1%
Optics mod bonus increased from +35% to +45% Headshot Damage
Underbarrel mod bonus reduced from +15% to +5% Weapon Handling
Optics mod bonus changed from +5% Critical Hit Chance to +5% Headshot Damage
Muzzle mod bonus changed from +15% Stability to +5% Critical Hit Chance
Magazine mod bonus changed from +15% Reload Speed to +15% Weapon Handling
Added functionality to provide extra damage if you're trying to keep stacks, full talent is now:
(New) Hits grant +2% weapon damage. Stacks up to 30.
Headshots consume all stacks, repairing your shield for 3% per stack.
No longer highlights enemy weakpoints when aiming.
Damage increased by +12.5%
Muzzle mod bonus reduced from +20% to +10% Stability
Underbarrel mod bonus reduced from +20% to +10% Weapon Handling
Magazine mod bonus reduced from +15% to +10% Reload Speed
Added functionality to provide extra non-explosive damage as well, full talent is now:
This weapon fires on trigger pull and release.
If both bullets hit the same enemy, gain a stack.
(New) At 7 stacks, shooting an enemy deals 500% amplified damage and creates a 7m explosion dealing 500% weapon damage, consuming the stacks.
Developer Comment: Merciless was previously balanced for its very unwieldy handling and compensated with very high burst damage. With access to much higher accuracy and stability, Binary Trigger’s explosion strength has been toned down.
Damage increased by +7.7%
Text updated to clarify a new target isn’t marked until after the 5s buff.
Damage increased by +11.0%
Damage increased by +18.9%
Optics mod bonus increased from +5% to +10% Critical Hit Chance
Muzzle mod bonus changed from +5% Critical Hit Chance to +5% Critical Hit Damage
Underbarrel mod changed from +5% Critical Hit Damage to +500% Melee Damage
Breathe Free: Lowered the amount of maximum stacks from 40 to 32, and increased the damage amplification per stack from 60% to 75%
Damage increased by +16.7%
Optics mod bonus increased from +5% to +15% Critical Hit Chance
Muzzle mod bonus changed from +10% Critical Hit Chance to +5% Critical Hit Damage
Underbarrel mod bonus reduced from +15% to +10% Weapon Handling
Magazine mod bonus changed from +10% Reload Speed to +10 Rounds
Magazine base capacity reduced from 60 to 50
Muzzle mod bonus changed from +10% Stability to +10% Accuracy
Underbarrel mod bonus changed from +10% Weapon Handling to +10% Stability
NinjaBike Messenger Kneepads
Added functionality to add bonus armor, full talent is now:
(New) Performing a cover to cover or vaulting reloads your drawn weapon and grants +25% bonus armor for 5s.
Dodge City Gunslinger Holster
Added functionality that makes your hit do headshot damage, full talent is now:
While your pistol is holstered, gain a stacking buff every 0.3s, up to 100. When you swap to it, your first shot consumes the buff and deals +10% damage per stack.
(New) This deals headshot damage to anywhere you hit.
Changed functionality to no longer grant group/raid-wide overcharge unless you are skill tier 6
Added functionality to provide hive skill haste, full talent is now:
(New) Grants +15% Hive skill haste per skill tier.
(Changed) Detonating a hive refreshes your skill cooldowns and grants overcharge for 15s.If at Skill Tier 6, this effect also applies to all allies.
Allies receiving this effect are unable to benefit from it again for 120s.
Added functionality to continue to provide damage bonus move for a short duration, full talent is now:
Cannot be staggered by explosions.
Increases total weapon damage by 3% each second you are not moving. Stacks up to 10 until you start moving.
(New) All stacks lost 10s after moving.
Gear Set Changes
Feedback Loop no longer fully refreshes the cooldown of a skill, but instead reduces it by up to 30s
Hollow-Point Ammo is no longer dropped on kill, and instead automatically added to your active weapon when killing status afflicted enemies
Backpack Talent (New)
Increases the duration of your bleed status effects by 50% and all bleed damage done by 100%
Increased 3-piece Reload Speed bonus from +20% to +30%
Tip of the Spear
Main Talent (PVE)
Aggressive Recon's weapon damage buff is now gained when dealing specialization weapon damage, instead of on specialization weapon kill
Main Talent (PVP)
Aggressive Recon's weapon damage buff is now gained when dealing grenade damage, instead of on grenade kill
Backpack Talent (New)
Increases specialization weapon damage by 20%, and doubles the amount of specialization ammo generated by Aggressive Recon
Aces and Eights
"Poker Face" backpack talent is now a baseline effect:
Flip an additional card on headshots
Backpack Talent (New)
“Ace in the Sleeve”
Amplifies 1 extra shot when revealing your hand
3-piece Headshot Damage bonus is now additive, rather than multiplicative
Increased 3-piece Headshot Damage bonus from +20% to +30%
Now repairs 20% of your armor in addition to granting 50% bonus armor
Increases total weapon damage by 1% per 5% bonus armor gained, up to 20%
Reduced the number of stacks lost on missed shots from 3 to 2
No longer reduces number of stacks lost on missed shots
(New) Increases total weapon damage gained per stack of Striker's Gamble from 0.5% to 0.65%.
Damage transfers on the initial bullet that marks a new target
Increased 3-piece Repair Skills bonus from +15% to +30%
Brand Set ChangesAlps Summit Armament
Increased 1-piece Repair Skills bonus from +15% to +20%
Increased 2-piece Repair Skills bonus from +15% to +20%
Richter & Kaiser
Increased 3-piece Repair Skills bonus from +15% to +20%
Incoming Repairs brand set bonus increased from +15% to +20%
Increased 1-piece Headshot Damage bonus from +10% to +15%
Increased 2-piece Headshot Damage bonus from +10% to +15%
Grupo Sombra S.A
Increased 3-piece Headshot Damage bonus from +10% to +15%
Increased 2-piece Accuracy bonus from +10% to +20%
Douglas & Harding
Increased 2-piece Stability bonus from +10% to +20%
Increased 3-piece Accuracy bonus from +10% to +20%
Fenris Group AB
Increased 2-piece Reload Speed bonus from +10% to +20%
Increased 3-piece Stability bonus from +10% to +20%
Gunner specialization's Emplacement talent Weapon Handling bonus reduced from +15% to +10%
Note: The UI will incorrectly say it still adds +15% Weapon Handling. This will be fixed in a future update.
Stinger Hive, Mortar Turret, and Explosive Seeker Mine now display its Bleed Damage and Duration
Cluster Seeker Mine targeting accuracy improved
Developer comment: The Cluster Seeker Mine is not intended to be as accurate as the Explosive variant. Once it is a certain distance from its target it locks the location it is aiming for and continues towards that regardless of where its original target agent has since moved to. This "bullcharge" behavior reflects the mini-mines' less advanced technology and balances the skill mod's effectiveness. This said, we have noticed that the Cluster Seeker's accuracy has been a source of frustration so we've shortened the distance until it activates its "bullcharge" and adjusted when it decides to explode. These adjustments should make the Cluster Seeker feel more accurate, but these are measured steps as we do not want the skill to return to its OP TU7-state.
Stinger Hive base damage reduced -20%
Stinger Hive damage bonus per skill tier increased from +10% to +20%
Developer comment: In order to make investing in skill tiers have a greater impact on the Stinger Hive's damage, we slightly reduced base drone damage, while doubling the amount of damage gained with each skill tier. These changes will result in a net buff for dedicated skill builds, with a 10% increase in Stinger Hive drone damage at skill tier 6.
Restorer hive gains +5% drone flight speed per skill tier
Developer comment: Increases to the Restorer Hive's radius had the unfortunate effect of increasing the time it took for repair drones to reach their target the further they were from the hive. Increasing drone flight speed with each skill tier should help offset that somewhat counter-intuitive behavior when taking advantage of the increased area of effect, and make the Restorer Hive a more reliable tool for healers.
Riot Foam Chem Launcher ensnare duration bonus per skill tier reduced from +20% to +10%
Reinforcer Chem Launcher: UI has been updated to clarify that the initial heal only affects allies and not the Skill user. The functionality has not changed.
Blinder Firefly blind duration bonus per skill tier reduced from +20% to +10%
Blinder Firefly base blind duration reduced from 6s to 5s
Banshee Pulse cooldown increased from 20s to 30s
Banshee Pulse base confuse duration reduced from 5s to 4s
Jammer Pulse base disrupt duration reduced from 4s to 3s
Shock Trap base shock duration reduced from 5s to 3s (PvP duration remains unchanged)
Shock Trap base radius increased from 2m to 2.5m
When the active duration ends, its cooldown is refunded an equal number of seconds that it was active.
Gravity's Rainbow Group Read | Sections 13-16 | Week 5
Well folks, this was a doozy of a week, wasn’t it? Some of these sections are quite challenging, for a variety of reasons. But we also see some pretty critical plot developments, and some genuine hilarity at poor Slothrop’s expense, too. Gotta love that cubeb. This is also where the book really takes off in terms of it’s story arc (especially Slothrop’s origin story), as well as its embrace of sexual deviancy in all its forms, so I’m very curious to see the reactions from the first-timers. It’s a lot to take in. Anyhoo, I’ll start this with a broader summary of themes, then break the summary and analysis down by section, and include some discussion prompts at the end. There’s a lot to work with this week - this section was twice as long as previous weeks. This analysis is going to be lengthy, but I’ll try to keep as focused as I can. Several broad themes start to crystallize by this point in the narrative, especially opposition, which takes a multitude of forms: 1-0, white-black, death-life, social control-anarchy, Capitalism-black market, division-unification, colonizer-colonized, domination-submission, Elect-Preterite. My ordering of items in those pairings is intentional. This book (and Pynchon) sees white, Euro-American colonial culture as intimately tied to a need for control, domination, and a belief in salvation (everyone likes to think they’re part of the Elect, nicht wahr?), which results in a culture of death and division. The War is the embodiment of this. Pynchon repeatedly takes the side of the Preterite - the anarchist, the minority, the colonized. Pigs, which Pynch clearly loves, seem to be emblematic of this noble-yet-humble Preterite. Related to that is the idea of resisting baser desires and human nature vs accepting them vs sublimating them into full-blown pathologies (e.g. colonialism, Crutchfield the Westwardman). Many of the worst symptoms of society stem from our artificial divisions and denial of the natural order. So, if we have deadly, pervasive, controlling systems, what are us poor folks stuck inside them to do? How do we free ourselves from the System? From Them? Pynchon brings up at least three options in this week’s reading: 1.Escape (Katje leaving, vs Gottfried’s passive waiting for salvation) 2.Enjoy the good and ignore the negative (Jessica trying to live in her bubble with Roger, vs. Roger’s unhappy focus on the negatives without being able to change them) 3.Blow it all up (Katje’s option for Schußstelle 3, which she decides against, vs what? Death, perhaps?) Finally, I’d like to discuss an underlying theme based on a separate work that has strongly influenced Pynchon, and Gravity’s Rainbow: T.S. Eliot’s The Waste Land. I never realized this before, but I’ve read the poem probably 75 times since I last read GR, so I’m pretty familiar with it by this point. I highly recommend reading it, but it’s primarily about the decline of Europe after WWI into a wasteland and the death-and-rebirth cycle. A central theme relates to the ancient belief that the harvest god (or later, the king, such as in Arthurian legend) was fundamentally tied to the land. If the king was young and vibrant, the land would be fertile. As the king became old or fell ill, the land would become barren. Thus the king (or harvest god - see the Hanged Man of the tarot) would be sacrificed, either literally or symbolically, so he could be reborn and the land could be restored. “Death is a debt to nature due…” as ol’ Constant Slothrop’s epitaph read. We see this concept explicitly addressed in section 16 (p. 131):
If he’s not in fact the War then he’s its child-surrogate, living high for a certain term but come the ceremonial day, look out. The true king only dies a mock death. Remember. Any number of young men may be selected to die in his place while the real king, foxy old bastard, goes on.
The king is dead. Long live the king. So how does this connect to our broader themes? Remember earlier when we discussed the invisible hand of the market, and how the economy and even social order are now hidden, directionless systems with no ruler? If the king is the land and the land is the king, what do we think would happen to the land, to society, if we replaced the king with an invisible, incomprehensible force that operated under its own rules, outside human control? The chaos of WWII? The mass death without clear cause? The markets taking on a life of their own? I think that’s what Pynchon’s getting at here. Would love your take. On to our section summaries… Section 13 YouTube Recording by u/ShisusBolton: https://www.youtube.com/watch?v=69MV1vafocs Here we delve further into formal psychology and it’s specific application not just on dogs, but humans. We are finally shown the origin of Slothrop’s unique ability - psychological conditioning by Professor Jampf on poor “Infant Tyrone,” in an experiment that echoes the very real “Little Albert” experiment. We also learn why the connection is sexual - a simple matter of binary practicality to make it easier for lab assistants to measure the response to stimulus x. But what IS this mysterious stimulus? More importantly, was Infant Tyrone properly de-conditioned? It would appear not. Here we get a direct quote from Pavlov, the source for this part’s title. The concept of a “silent extinction beyond the zero,” the failure of which is the source of Slothrop’s rather intimate connection to the V2. Slothrop is part of the psychological Preterite - a poor sap doomed from the beginning to be abnormal, no chance for salvation here. Controlled entirely by outside forces he’s not even aware of. Apparently Slothrop’s “talent” is pretty damn precise, since his stars line up perfectly with the rocket strikes. We see some competing explanations for how this could be - from psychokinesis to some echo back through time of the rocket’s blast. We see characters all desperate to figure out why so they can predict where next? Maybe find out if they’re part of the Elect or not. The one possibility none of them consider, cannot consider: what if it’s all random? That’s too terrifying to contemplate for people who believe in predestination. Of course, only Jessica has the empathy to wonder if the women have all died or not. As a slight aside, on p. 85 we get a linguistic exploration of the concept of “beyond the zero” by Mexico that I really loved:
Odd, odd, odd - think of the word: such white finality in its closing clap of the tongue. It implies moving past the tongue-stop - beyond the zero - and into the other realm. Of course, you don’t move past. But you do realize, intellectually, that’s how you ought to be moving.
The play on “ought” as the extension of “odd” beyond the zero is delightful. Here we also see “white” (remember our many examples of opposition?) being tied to finality. No death-rebirth cycle here. We are then witness to a discussion between Pointsman and Mexico where the opposition of their personalities comes into sharp relief. Pointsman seeks binary cause/effect, Mexico seeks alternative between the 1 and the 0 - he proposes to “strike off at some other angle.” That scares Pointsman - it undermines not just his science but his fundamental worldview. His is one of predestination. This also ties into the broader idea of how everyone’s actions and beliefs are consistently shaped by their (often unconscious) fundamental view of the nature of reality and how the world works. Thus, every character’s actions reflect not just their personalities, but distinct assumptions about the nature of causality, of human behavior, of society, of life and death. Misc. notes: The abbey near the White Visitation is described as a ruin on a cliff (p. 86) - it brings to mind the Tower from the Tarot and the related imagery of the Castle Perilous (both referenced in The Waste Land). On p. 90-91 - I’m not positive, but this jumped out to me as an allusion to the play Waiting for Godot. The phrasing and pace of the segment starting “Why do you need me” and ending on the next page with “Help me” sounds very similar to an early scene in Godot, and the works share the themes of purposelessness, meaningless, invisible control, and the question of salvation. Section 14 YouTube Recording by u/BodinethePig: https://www.youtube.com/watch?v=x6RFKZPX8rQ Back to the mansion of the opening scene’s banana breakfast. An anonymous cameraman (is it us, the reader?) lends an element of voyeurism, as Katje models for the camera - but why? Meanwhile, Osbie Feel is busy making psychedelic cigarettes from mushrooms grown on the roof. Pynchon notes Katje’s dress, and I suspect the focus on the name used for that particular cocoa shade is a subtle example of England’s casual racism and colonial past. A derogatory term repurposed for a product. A view of Osbie’s oven triggers a flashback for Katje, to her time as a double-agent reporting to Pirate on the rocket battery Schußstelle 3, under the command of the sadistic Captain Blicero. We first heard of him back during the seance. His true name is Weissmann (literally white man), and his code name, Blicero, is the Teutonic name for death. I mentioned the theme of opposition at the beginning of this increasingly-lengthy post, and Blicero is emblematic of one pole - literally white, male, colonizing death. But his teeth reveal hidden decay behind the white exterior. If Blicero is the personification of white Euro-American colonial culture, Pynchon’s saying there’s rot there, and it ain’t pretty. Here’s where S&M comes into the narrative, in a darkly graphic way. Pynchon is fully willing to make the reader uncomfortable by confronting the parts of life that we normally avoid talking about or acknowledging, including those on the fringe. On top of that, we get the image of Der Kinderofen, echoing both Grimm’s fairy tale of Hansel and Gretel as well as the ovens of the concentration camps. The house that Blicero, Katje, and Gottfried inhabit is a microcosm of colonialism and/or modern society. It’s literally referred to as “their Little State.” If that’s the case, Katje and Gottfried represent two responses to such a scenario: Katje decides that quitting the game is only way out, whereas Gottfried waits for salvation. Gottfried is confident he’s part of the Elect, but Katje isn’t so sure, and takes matters into her own hands. Meanwhile, the oven looms in the background - both the base of the State, and its ultimate destruction (p. 99). Is Pynchon implying that the modern state is fundamentally self-destructive? It would seem so. We also get our first look at the other end of the arc: the rockets being fired. Interestingly, we realize they’re not as all-powerful and precise as they first appear. Deadly, sure, but many are exploding right after launch, even on the launchpad, killing the operators. The flashback to Blicero’s history in colonial Africa introduces us to the Herero people, including Blicero’s lover, Enzian. Enzian represents an entirely different worldview from Blicero - a non-European, non-binary, non-Christian perspective. One of his gods, Ndjambi Karunga, represents the merging of the opposing forces that are so disconnected in the European’s worldview. Back to the house, and we get more insight into Gottfried’s character. He’s clearly a passive participant, submissive, willing to do as he’s told. “If you cannot sing Siegfried at least you can carry a spear.” (p. 103). He accepts the suffering he endures as part of the system, a normal stage in life before moving on to some career of his own, some form of autonomy. But he doesn’t see any action required on his part to make this happen. After all, “He knows, like everyone, that captive children are always freed in the moment of maximum danger.” (p. 103). That’s the faith of one convinced he’s part of the Elect. Here we see one of the most well-known quotes from the book - “Don’t forget the real business of the War is buying and selling…. The true war is a celebration of markets.” (p. 105). In the interest of brevity, I’ll leave it to y’all to delve more into this critical section, but at least on the surface, it gives one of Pynchon’s more direct statements on the nature of war, its function, and its objectification of human life. We also get a fascinating aside on Katje’s ancestor committing avian genocide against the dodoes, that most unfortunate of birds. Yet again, we’re examining the conflict of Preterite vs Elect, and how the fantasy of salvation is is a way to pacify those who are doomed in their current lives. If not that, then all is chance and the dodoes are “only our prey. God could not be that cruel.” (p. 111). But couldn’t he? The evidence doesn’t appear in god’s favor, does it? Last but not least, we see Katje’s film being put to use to condition good ol’ octopus Grigori. But again, to what end? Section 15 YouTube Recording (by yours truly): https://www.youtube.com/watch?v=dPgiptRr-W0 Mrs. Quoad! One of the funniest scenes in the book, and one of my favorites. It showcases both Pynchon’s visceral descriptive abilities as well as the insanity of prewar British candy. Before the Disgusting English Candy Drill, we see Slothrop’s exit from a controlled, laboratory setting and instead being released “into the wild” for observation. He is moving toward Pointsman’s Rorschach-esque experiment, the nature of which is as-yet unknown, but which occupies much of Book 2. This also marks the beginning of Slothrop’s (fully justified) paranoia. In the words of my father, “it’s not paranoia if they’re actually watching you.” Slothrop senses he’s being followed, observed, and starts to get a bit jumpy. Wouldn’t you? My analysis is already far too long, so I’m grateful for this mercifully short and simple section. I think we all needed some levity after Blicero, no? Something tells me Pynchon was thinking the same thing in granting the reader this reprieve. Section 16 YouTube Recording by u/DanteNathanael: https://www.youtube.com/watch?v=NapZnTK3TRU In this section, we see more of Roger and Jessica’s history together, and the contrast between his more fearful, negative recognition of the System in which they live, and Jessica’s more carefree willingness to focus on the moments of joy she can find. But even nihilistic Roger finds some beauty on this Christmas eve walk. An aside: the line, “who are all these people…. Freaks! Freeeeaks!” absolutely cracks me up. The rest of this section alludes heavily to another poem by our friend T.S. Eliot, Journey of the Magi. It’s fairly short and accessible, and a truly beautiful work. It’s told from the point of view of one of the magi, looking back on his journey:
All this was a long time ago, I remember, / And I would do it again, but set down / This set down / This: were we led all that way for / Birth or Death? There was a Birth, certainly / We had evidence and no doubt. I had seen birth and death, / But had thought they were different; this Birth was / Hard and bitter agony for us, like Death, our death.
We get glimpses into how the War has worn down the population, drained them, recycled even the most mundane objects (e.g. toothpaste tubes) into material for the war. But we also see a reversal of this, with Spam tins recycled into toys for children. An echo of the death/rebirth cycle we previously saw with the king and the land, and in the poem above. A glimmer of hope? Pynchon discusses how the War relies on the illusion of unity but in fact is founded on disunity, on division. Society and the System depend on broad perception of rational, ordered, mechanistic system. Surrealism, the removal of this illusion of borders, en masse is societal suicide. But also an inextricable part of it. As with the microcosm of Blicero’s oven, the end is baked into the origin. The ordered reality of the System is a facade - even time’s sped up thanks to the War. In fact, Roger’s first moment of optimism, of faith, comes after the choir’s act of “minor surrealism” - the removal of artificial boundaries between race, culture, language (p. 129). The War destroys the death/rebirth cycle: its death is a finality, with just a gold start as a consolation prize for the dead who lay buried under the snow in a bomb crater, and humans subdivided to the point of being individually numbered. But for a second, for just a second on Christmas eve, people can forget that - even Roger, who enters the ultraparadoxical phase when sound of the choir overcomes his knee-jerk nihilism and actually brings him back around to hope, if just for that night. Questions
What are your thoughts on Professor Jampf’s experiment on poor Infant Tyrone? What might be variable “x”? Does that even matter?
Is Slothrop “sensing” the rockets before they are launched? Are the rockets somehow drawn to the locations of his sexual forays? Is he reading the minds of the rocket operators? Or worse, and most terrifyingly, is it all somehow coincidence?
What was your initial reaction to the section with Blicero, Katje, and Gottfried? Did your perspective change after you finished the entire section?
Why didn’t Katja give up location of Schußstelle 3?
How does “the Change” that Blicero is fixated on play into our larger themes? There’s an allusion here to both Ovid’s Metamorphoses and several Romantic poets. How would you define Blicero’s desires?
The Mrs. Quoad scene seems to largely be a light aside to break up some pretty heavy material. But is there anything more to it? Any other insights to be pulled from the candy jar?
Well, if you made it all the way to the end of this, thank you. I think I put more energy into this than several college essays I turned in, but it was a lot of fun, and I’m blown away by how much I gained from this exercise. I’m excited to see what insights you have! Addendum: great discussion so far! Thanks for the excellent insights and observations!
2 months back at trading (update) and some new questions
Hi all, I posted a thread back a few months ago when I started getting seriously back into trading after 20 years away. I thought I'd post an update with some notes on how I'm progressing. I like to type, so settle in. Maybe it'll help new traders who are exactly where I was 2 months ago, I dunno. Or maybe you'll wonder why you spent 3 minutes reading this. Risk/reward, yo. I'm trading 5k on TastyWorks. I'm a newcomer to theta positive strategies and have done about two thirds of my overall trades in this style. However, most of my experience in trading in the past has been intraday timeframe oriented chart reading and momentum stuff. I learned almost everything "new" that I'm doing from TastyTrade, /options, /thetagang, and Option Alpha. I've enjoyed the material coming from esinvests YouTube channel quite a bit as well. The theta gang type strategies I've done have been almost entirely around binary event IV contraction (mostly earnings, but not always) and in most cases, capped to about $250 in risk per position. The raw numbers: Net PnL : +247 Commissions paid: -155 Fees: -42 Right away what jumps out is something that was indicated by realdeal43 and PapaCharlie9 in my previous thread. This is a tough, grindy way to trade a small account. It reminds me a little bit of when I was rising through the stakes in online poker, playing $2/4 limit holdem. Even if you're a profitable player in that game, beating the rake over the long term is very, very hard. Here, over 3 months of trading a conservative style with mostly defined risk strategies, my commissions are roughly equal to my net PnL. That is just insane, and I don't even think I've been overtrading. 55 trades total, win rate of 60%
33 purely directional trades - 57.5% win
18 long call or long put positions, +692, 55% win
15 call or put verticals, -121, 60% win
22 neutral / other trades
13 iron condors, +345, 77% win rate
7 strangles, -163, 71% win rate
1 straddle, -310, 0% win rate
1 butterfly, -83, 0% win rate
PTON call purchased and held through earnings, sold the morning of announcement +410
Trading the range on the daily chart in GLD from 158 up to 165, a mix of various calls +245
NKLA 30 put purchased before the close on the day it went north of 100, just a pure fade +215
EWZ 22/26 strangle that I held just way too long as it beat me up day after day from May 20-Jun 3, -316
ZM pre earnings vertical, fading another 2 SD move (the day it hit 200 for the first time). Was expecting a post-earnings selloff given the magnitude of the up move. Stock basically hasn't had a down tick since. Max loss -247
EWW 29 straddle, put on around the same time as the EWZ strangle. Rolled from Jun to Jul to no avail. Out at a -310 loss.
This is pretty much where I expected to be while learning a bunch of new trading techniques. And no, this is not a large sample size so I have no idea whether or not I can be profitable trading this way (yet). I am heartened by the fact that I seem to be hitting my earnings trades and selling quick spikes in IV (like weed cures Corona day). I'm disheartened that I've went against my principles several times, holding trades for longer than I originally intended, or letting losses mount, believing that I could roll or manage my way out of trouble. I still feel like I am going against my nature to some degree. My trading in years past was scalping oriented and simple. I was taught that a good trade was right almost immediately. If it went against me, I'd cut it immediately and look for a better entry. This is absolutely nothing like that. A good trade may take weeks to develop. It's been really hard for me to sit through the troughs and it's been even harder to watch an okay profit get taken out by a big swing in delta. Part of me wonders if I am cut out for this style at all and if I shouldn't just take my 5k and start trading micro futures. But that's a different post... I'll share a couple of my meager learnings:
Larger bid/ask spreads make it almost impossible to trade the higher priced names, even if you have a correct assumption. I have traded some bigger underlyings during this time like LULU and NVDA. They are just tough fills, both getting in and getting out. I almost want to say that you shouldn't even bother trading underlyings bigger than a 10 cent bid/ask spread with a small account.
Get an idea of the timeframe you're interested in holding before putting anything on. Have a plan for entering and exiting everything that goes beyond "I'll take this trade off at 50%". You can use TA, you can use a news catalyst, a binary event, just have something. Countless sources out there talk about trading a plan. It doesn't have to be the perfect plan, it just has to be "a" plan.
Undefined risk trades in tiny accounts need hard stops. Yes, some of the studies say that you'll do better without having fixed stop loss rules (50% of max loss, 100% of max loss) -- but what the studies don't say is the effect that it will have on you, mentally. I got pretty bent out of shape over how badly EWZ and EWW went against me -- much more than I expected. It made no sense, as I've lost way more on the turn of a card in .5 seconds and been unfazed. I was unprepared for the mental toll that it took waking up day after day, watching positions move further and further against me. Great time to be short calls during the mother of all rallies.
My initial plan for undefined risk trades in my account was that I would only do them in ETFs. Logic being that I'm just not going to wake up to an accounting scandal or a buyout and take a $1k loss on the chin. I later expanded my range into lower priced underlyings like BBBY, TLRY, and yes, AAL. But these ETFs can and do move (I learned the hard way) and can soak up a surprising amount of BP. It might be better to have 5 iron condors taking up $1000 of BP @ 200 each instead of 2 strangles @ 500 each.
My new questions :
My big wins felt like I simply leaned on my TA background or got lucky. My big losses, I sure felt like I earned those, through mistakes I've definitely since identified. The stuff in the middle, I'm just not sure. I'm up money, but it feels like I'm just spinning my wheels. My win rate is good, but I still struggle with expectations about how quickly a trade should progress. What is the next step of the process for a newer options trader? I've read some stuff on narrower spreads + more contracts vs. wider spreads and fewer contracts. Is there a number where I should just keep doing what I'm doing until I reach a specific # of occurrences? Should I even think about branching out into different strategies yet (ratio spreads, jade lizards, etc) or continue to work on these basics?
I still feel like I am super weak in delta management. In some cases I feel like I've taken a loss simply because I didn't know what the proper management techniques were. I understand the concept of rolling out in time for a credit, but I just don't think it's in my nature to hold trades for longer than a month, and even that is hard for me. At what delta is it appropriate to start thinking about hedging?
Every time I put on a credit spread for a 2-3 day move and am directionally correct, I often wish that I had just bought a naked option. I've caught several big moves this way in things like AAPL; most recently I bought the FB dip to the 50 day MA around 215 and took it off today at 225 (which was always my plan) -- it leads me to wonder if my expectations for credit spreads are completely out of line. I can't lie, it feels bad to catch a 10 point move and only make $40, haha. What is the ideal timeframe for a credit spread to be left on? Is it better to just buy premium with a stop loss and have a more profitable risk/reward equation for situations like the above where the only intent is to hold for a couple days?
Here's a random question -- other than when the BPR hit is too much (ie names over $50) for undefined risk, would you rather hold 1) a strangle for 10-14 days or 2) an iron condor for 25-30 days? So far my criteria for IC vs strangle has largely been driven by the risk profile and BPR and not so much profit potential in X number of days. If you're collecting the standard 1/3rd on the IC and taking the trade off at 50% (if you're lucky) , it seems like it takes about a month to get there, most of the time.
That's enough of this wall of text for now. If you made it this far, I salute you, because this shit was even longer than my last post.
How To Know Which "Make Money" Gurus on Youtube Are A Scam. Websites, Resources, and Channels To Protect Yourself From Predatory Marketers
Finding the right places online to educate yourself if hard. You can't even watch youtube without being interrupted by another affiliate marketing guru claiming to be the #1 affiliate on ClickBank selling you a course. A majority of these marketers are preying on gullible or emotionally vulnerable people and I'd like to see some someone develop a source of truth so user online know who is a scam or not. Any sort of input would allow you to help those on the come up and would be greatly appreciated:
Where do you go to know if these guys selling courses online are legit?
How can you tell is someone is authentic or a charlatan?
What sort of courses have your purchased in the past and how did it turn out?
I am looking to compile all of your answers into a research guide for people looking for reliable online courses and to educate themselves online.
Wall Street Week Ahead for the trading week beginning June 29th, 2020
Good Saturday afternoon to all of you here on StockMarket. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week ahead. Here is everything you need to know to get you ready for the trading week beginning June 29th, 2020.
Fragile economic recovery faces first big test with June jobs report in the week ahead - (Source)
The second half of 2020 is nearly here, and now it’s up to the economy to prove that the stock market was right about a sharp comeback in growth. The first big test will be the June jobs report, out on Thursday instead of its usual Friday release due to the July 4 holiday. According to Refinitiv, economists expect 3 million jobs were created, after May’s surprise gain of 2.5 million payrolls beat forecasts by a whopping 10 million jobs. “If it’s stronger, it will suggest that the improvement is quicker, and that’s kind of what we saw in May with better retail sales, confidence was coming back a little and auto sales were better,” said Kevin Cummins, chief U.S. economist at NatWest Markets. The second quarter winds down in the week ahead as investors are hopeful about the recovery but warily eyeing rising cases of Covid-19 in a number of states. Stocks were lower for the week, as markets reacted to rising cases in Texas, Florida and other states. Investors worry about the threat to the economic rebound as those states move to curb some activities. The S&P 500 is up more than 16% so far for the second quarter, and it is down nearly 7% for the year. Friday’s losses wiped out the last of the index’s June gains. “I think the stock market is looking beyond the valley. It is expecting a V-shaped economic recovery and a solid 2021 earnings picture,” said Sam Stovall, chief investment strategist at CFRA. He expects large-cap company earnings to be up 30% next year, and small-cap profits to bounce back by 140%. “I think the second half needs to be a ‘show me’ period, proving that our optimism was justified, and we’ll need to see continued improvement in the economic data, and I think we need to see upward revisions to earnings estimates,” Stovall said. Liz Ann Sonders, chief investment strategist at Charles Schwab, said she expects the recovery will not be as smooth as some expect, particularly considering the resurgence of virus outbreaks in sunbelt states and California. “Now as I watch what’s happening I think it’s more likely to be rolling Ws,” rather than a V, she said. “It’s not just predicated on a second wave. I’m not sure we ever exited the first wave.” Even without actual state shutdowns, the virus could slow economic activity. “That doesn’t mean businesses won’t shut themselves down, or consumers won’t back down more,” she said.
In the second half of the year, the market should turn its attention to the election, but Sonders does not expect much reaction to it until after Labor Day. RealClearPolitics average of polls shows Democrat Joe Biden leading President Donald Trump by 10 percentage points, and the odds of a Democratic sweep have been rising. Biden has said he would raise corporate taxes, and some strategists say a sweep would be bad for business, due to increased regulation and higher taxes. Trump is expected to continue using tariffs, which unsettles the market, though both candidates are expected to take a tough stance on China. “If it looks like the Senate stays Republican than there’s less to worry about in terms of policy changes,” Sonders said. “I don’t think it’s ever as binary as some people think.” Stovall said a quick study shows that in the four presidential election years back to 1960, where the first quarter was negative, and the second quarter positive, stocks made gains in the second half. Those were 1960 when John Kennedy took office, 1968, when Richard Nixon won; 1980 when Ronald Reagan’s was elected to his first term; and 1992, the first win by Bill Clinton. Coincidentally, in all of those years, the opposing party gained control of the White House.
The stocks market’s strong second-quarter showing came after the Fed and Congress moved quickly to inject the economy with trillions in stimulus. That unlocked credit markets and triggered a stampede by companies to restructure or issue debt. About $2 trillion in fiscal spending was aimed at consumers and businesses, who were in sudden need of cash after the abrupt shutdown of the economy. Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin both testify before the House Financial Services Committee Tuesday on the response to the virus. That will be important as markets look ahead to another fiscal package from Congress this summer, which is expected to provide aid to states and local governments; extend some enhanced benefits for unemployment, and provide more support for businesses. “So much of it is still so fluid. There are a bunch of fiscal items that are rolling off. There’s talk about another fiscal stimulus payment like they did last time with a $1,200 check,” said Cummins. Strategists expect Congress to bicker about the size and content of the stimulus package but ultimately come to an agreement before enhanced unemployment benefits run out at the end of July. Cummins said state budgets begin a new year July 1, and states with a critical need for funds may have to start letting workers go, as they cut expenses. The Trump administration has indicated the jobs report Thursday could help shape the fiscal package, depending on what it shows. The federal supplement to state unemployment benefits has been $600 a week, but there is opposition to extending that, and strategists expect it to be at least cut in half. The unemployment rate is expected to fall to 12.2% from 13.3% in May. Cummins said he had expected 7.2 million jobs, well above the consensus, and an unemployment rate of 11.8%. As of last week, nearly 20 million people were collecting state unemployment benefits, and millions more were collecting under a federal pandemic aid program. “The magnitude here and whether it’s 3 million or 7 million is kind of hard to handicap to begin with,” Cummins said. Economists have preferred to look at unemployment claims as a better real time read of employment, but they now say those numbers could be impacted by slow reporting or double filing. “There’s no clarity on how you define the unemployed in the Covid 19 environment,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “If there’s 30 million people receiving insurance, unemployment should be above 20%.
This past week saw the following moves in the S&P:
The economy is moving in the right direction, as many economic data points are coming in substantially better than what the economists expected. From May job gains coming in more than 10 million higher than expected and retail sales soaring a record 18%, how quickly the economy is bouncing back has surprised nearly everyone. “As good as the recent economic data has been, we want to make it clear, it could still take years for the economy to fully come back,” explained LPL Financial Senior Market Strategist Ryan Detrick. “Think of it like building a house. You get all the big stuff done early, then some of the small things take so much longer to finish; I’m looking at you crown molding.” Here’s the hard truth; it might take years for all of the jobs that were lost to fully recover. In fact, during the 10 recessions since 1950, it took an average of 30 months for lost jobs to finally come back. As the LPL Chart of the Day shows, recoveries have taken much longer lately. In fact, it took four years for the jobs lost during the tech bubble recession of the early 2000s to come back and more than six years for all the jobs lost to come back after the Great Recession. Given many more jobs were lost during this recession, it could takes many years before all of them indeed come back.
The economy is going the right direction, and if there is no major second wave outbreak it could surprise to the upside. Importantly, this economic recovery will still be a long and bumpy road.
Nasdaq - Russell Spread Pulling the Rubber Band Tight
The Nasdaq has been outperforming every other US-based equity index over the last year, and nowhere has the disparity been wider than with small caps. The chart below compares the performance of the Nasdaq and Russell 2000 over the last 12 months. While the performance disparity is wide now, through last summer, the two indices were tracking each other nearly step for step. Then last fall, the Nasdaq started to steadily pull ahead before really separating itself in the bounce off the March lows. Just to illustrate how wide the gap between the two indices has become, over the last six months, the Nasdaq is up 11.9% compared to a decline of 15.8% for the Russell 2000. That's wide!
In order to put the recent performance disparity between the two indices into perspective, the chart below shows the rolling six-month performance spread between the two indices going back to 1980. With a current spread of 27.7 percentage points, the gap between the two indices hasn't been this wide since the days of the dot-com boom. Back in February 2000, the spread between the two indices widened out to more than 50 percentage points. Not only was that period extreme, but ten months before that extreme reading, the spread also widened out to more than 51 percentage points. The current spread is wide, but with two separate periods in 1999 and 2000 where the performance gap between the two indices was nearly double the current level, that was a period where the Nasdaq REALLY outperformed small caps.
To illustrate the magnitude of the Nasdaq's outperformance over the Russell 2000 from late 1998 through early 2000, the chart below shows the performance of the two indices beginning in October 1998. From that point right on through March of 2000 when the Nasdaq peaked, the Nasdaq rallied more than 200% compared to the Russell 2000 which was up a relatively meager 64%. In any other environment, a 64% gain in less than a year and a half would be excellent, but when it was under the shadow of the surging Nasdaq, it seemed like a pittance.
The US equity market made its most recent peak on June 8th. From the March 23rd low through June 8th, the average stock in the large-cap Russell 1,000 was up more than 65%! Since June 8th, the average stock in the index is down more than 11%. Below we have broken the index into deciles (10 groups of 100 stocks each) based on simple share price as of June 8th. Decile 1 (marked "Highest" in the chart) contains the 10% of stocks with the highest share prices. Decile 10 (marked "Lowest" in the chart) contains the 10% of stocks with the lowest share prices. As shown, the highest priced decile of stocks are down an average of just 4.8% since June 8th, while the lowest priced decile of stocks are down an average of 21.5%. It's pretty remarkable how performance gets weaker and weaker the lower the share price gets.
It's hard to believe that sentiment can change so fast in the market that one day investors and traders are bidding up stocks to record highs, but then the next day sell them so much that it takes the market down over 2%. That's exactly what happened not only in the last two days but also two weeks ago. While the 5% pullback from a record high back on June 10th took the Nasdaq back below its February high, this time around, the Nasdaq has been able to hold above those February highs.
In the entire history of the Nasdaq, there have only been 12 periods prior to this week where the Nasdaq closed at an all-time high on one day but dropped more than 2% the next day. Those occurrences are highlighted in the table below along with the index's performance over the following week, month, three months, six months, and one year. We have also highlighted each occurrence that followed a prior one by less than three months in gray. What immediately stands out in the table is how much gray shading there is. In other words, these types of events tend to happen in bunches, and if you count the original occurrence in each of the bunches, the only two occurrences that didn't come within three months of another occurrence (either before or after) were July 1986 and May 2017. In terms of market performance following prior occurrences, the Nasdaq's average and median returns were generally below average, but there is a pretty big caveat. While the average one-year performance was a gain of 1.0% and a decline of 23.6% on a median basis, the six occurrences that came between December 1999 and March 2000 all essentially cover the same period (which was very bad) and skew the results. Likewise, the three occurrences in the two-month stretch from late November 1998 through January 1999 where the Nasdaq saw strong gains also involves a degree of double-counting. As a result of these performances at either end of the extreme, it's hard to draw any trends from the prior occurrences except to say that they are typically followed by big moves in either direction. The only time the Nasdaq wasn't either 20% higher or lower one year later was in 1986.
In the mid-1980s the market began to evolve into a tech-driven market and the market’s focus in early summer shifted to the outlook for second quarter earnings of technology companies. Over the last three trading days of June and the first nine trading days in July, NASDAQ typically enjoys a rally. This 12-day run has been up 27 of the past 35 years with an average historical gain of 2.5%. This year the rally may have begun a day early, today and could last until on or around July 14. After the bursting of the tech bubble in 2000, NASDAQ’s mid-year rally had a spotty track record from 2002 until 2009 with three appearances and five no-shows in those years. However, it has been quite solid over the last ten years, up nine times with a single mild 0.1% loss in 2015. Last year, NASDAQ advanced a solid 4.6% during the 12-day span.
Tech Historically Leads Market Higher Until Q3 of Election Years
As of yesterday’s close DJIA was down 8.8% year-to-date. S&P 500 was down 3.5% and NASDAQ was up 12.1%. Compared to the typical election year, DJIA and S&P 500 are below historical average performance while NASDAQ is above average. However this year has not been a typical election year. Due to the covid-19, the market suffered the damage of the shortest bear market on record and a new bull market all before the first half of the year has come to an end. In the surrounding Seasonal Patten Charts of DJIA, S&P 500 and NASDAQ, we compare 2020 (as of yesterday’s close) to All Years and Election Years. This year’s performance has been plotted on the right vertical axis in each chart. This year certainly has been unlike any other however some notable observations can be made. For DJIA and S&P 500, January, February and approximately half of March have historically been weak, on average, in election years. This year the bear market ended on March 23. Following those past weak starts, DJIA and S&P 500 historically enjoyed strength lasting into September before experiencing any significant pullback followed by a nice yearend rally. NASDAQ’s election year pattern differs somewhat with six fewer years of data, but it does hint to a possible late Q3 peak.
([CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
Friday 7.3.20 Before Market Open:
([CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!]())
Friday 7.3.20 After Market Close:
([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
Micron Technology, Inc. $48.49
Micron Technology, Inc. (MU) is confirmed to report earnings at approximately 4:00 PM ET on Monday, June 29, 2020. The consensus earnings estimate is $0.71 per share on revenue of $5.27 billion and the Earnings Whisper ® number is $0.70 per share. Investor sentiment going into the company's earnings release has 71% expecting an earnings beat The company's guidance was for earnings of $0.40 to $0.70 per share. Consensus estimates are for earnings to decline year-over-year by 29.00% with revenue increasing by 10.07%. Short interest has increased by 7.6% since the company's last earnings release while the stock has drifted higher by 8.0% from its open following the earnings release to be 0.9% below its 200 day moving average of $48.94. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 11, 2020 there was some notable buying of 46,037 contracts of the $60.00 call expiring on Friday, July 17, 2020. Option traders are pricing in a 4.6% move on earnings and the stock has averaged a 8.4% move in recent quarters.
General Mills, Inc. (GIS) is confirmed to report earnings at approximately 7:00 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.04 per share on revenue of $4.89 billion and the Earnings Whisper ® number is $1.10 per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 25.30% with revenue increasing by 17.50%. Short interest has decreased by 9.4% since the company's last earnings release while the stock has drifted higher by 2.7% from its open following the earnings release to be 7.8% above its 200 day moving average of $54.91. Overall earnings estimates have been revised