Down goes the Dow

We produce more cars in a week than Tesla produces in a year. We call that profit.

Shares of U.S. companies with a higher-than-average reliance on British sales could face a rude awakening should the U.K. vote to exit the European Union on Thursday.

Stocks finished the week lower on so-called Brexit worries and in the wake of a June Federal Reserve policy meeting that underscored a slower approach to rate increases given shaky economic growth. The Dow Jones Industrial Average declined 1.1% for the week, while the S&P 500 index shed 1.2%, and the Nasdaq Composite Index fell 1.9%. Both the S&P 500 and Nasdaq logged a second week of losses.

Another earnings season is less than a month off, with a few S&P 500 outliers still scheduled to report results and Nike Inc.'s(NKE) earnings the following week. With an already dismal four quarters of profit declines on the books, the possibility of the U.K. leaving the EU adds to the earnings struggles of U.S. companies. After China, international revenue across the S&P 500 is most exposed to the U.K. The U.S. accounts for 68.8% of S&P 500 revenue, followed by China accounting for 4.9%, and then the U.K. with 2.9%, according to John Butters, senior earnings analyst at FactSet.

The most exposed sectors to the U.K. are energy, tech, and materials, according to FactSet. Those very same sectors are also expected to have the worst profit declines for the second quarter already. On a company level, 30 firms in the S&P 500 derive 10% or more of their revenue from the U.K., according to FactSet data. The top 10 companies most exposed to the U.K. are Newmont Mining Corp.(NEM), Molson Coors Brewing Co.(TAP), PPL Corp.(PPL), Willis Towers Watson PLC (WLTW), Invesco Ltd., BlackRock Inc.(BLK), Apache Corp.(APA), LKQ Corp.(LKQ), News Corp.(NWS.AU)(NWS.AU), and CBRE Group Inc. (CBG)

If the "leave" camp prevails, stocks with high revenue exposure to the U.K. could get a rude awakening seeing they've tended to outperform the S&P 500 since the referendum vote was first announced back in February. It's only been recently that polls have shifted to a majority preference for a "leave" vote among Britons.

The real risk in the market is staying out of it

https://www.washingtonpost.com/business/get-there/the-real-risk-in-the-market-is-staying-out-of-it/2016/06/17/e30a4038-325c-11e6-8ff7-7b6c1998b7a0_story.html?hpid=hp_hp-more-top-stories_ritholt618pm%3Ahomepage%2Fstory

US rig count rises 10 this week to 424 in 3rd week of gains

http://www.barchart.com/headlines/story/2565643/us-rig-count-rises-10-this-week-to-424-in-3rd-week-of-gains

10 years to nowhere

http://seekingalpha.com/article/3982660-10-years-nowhere?ifp=0

Rubbish. The Post lost its credibility already about 20 years ago now. Semi certain that poster was not coach d. It is too embarrassing

Thanks for once again offering nothing of substance to the discussion.

Narcissist detector wrote:

Thanks for once again offering nothing of substance to the discussion.

In other words, his post does not conform to your worldview

Someone wrote:

Narcissist detector wrote:

Thanks for once again offering nothing of substance to the discussion.

In other words, his post does not conform to your worldview

Hi, Maserati!

Maserati detector wrote:

Someone wrote:

In other words, his post does not conform to your worldview

Hi, Maserati!

Hi Try to Keep up and butt hurt guy

It's Not Different This Time:

http://bawerk.net/2016/06/18/you-are-currently-living-through-the-dumbest-monetary-experimental-end-game-in-history-including-havenstein-and-gonos/

agip wrote:

gente,

You're kind of on your own with the 'coach d is a fraud' posts...we're all anonymous posters here and nothing is verifiable. Everything has to be taken with a dose of salt.

Seems to be Coach D is pretty good on actually making money rather than theorizing about how to make money.

I'm not real interested in accusations of fraud...I mean who cares. I'm always glad to read what D writes.

Agip

Dose of salt ?! Coach d's posts need to be taken with a salt mine; but if it makes you feel better, I'll just call him a BS artist, not a fraud. His post on 4/17 is verifiable and the evidence shows there was no sale. I did a lot of swing ( prop ) trades in the last millennium, thus I would check boards like Raging Bull, Yahoo and Silicon Investor. There were many knowledgeable people, ( Greenblatt discovered Michael Burry on a board ) and there were blowhards like coach d, who would be eventually chased away. Another red flag; "at 15:1 leverage"; the guy claims to be a math wiz and yet can't get this right! I would think a Level III CFA would have spotted the error; or am I confusing you with Reid. ( Oops, I mean Igy. Sorry D , I forgot we are all anonymous )

well that's all way above my pay grade.

looks like we may have a nice rally Monday - hoorah. Brexit fears lessening.

U.S. stock futures surged on Monday as investors' confidence in equities was bolstered by polls that showed a swing in support for the U.K. remaining a member of the European Union ahead of Thursday's so-called Brexit referendum.

Dow Jones Industrial Average futures rose 218 points, or 1.2%, to 17,776, while S&P 500 futures gained 27.85 points, or 1.4%, to 2,087. Nasdaq-100 futures added 60 points, or 1.4%, to 4,419.

Wall Street stocks closed lower on Friday, largely amid fears that U.K. voters would choose a departure from the EU, potentially roiling global markets. All three major indexes finished with losses of more than 1% for the week. The Nasdaq Composite was down 1.9%, its largest weekly fall since the end of April.

Analysts expect the week ahead to be choppy for markets until the referendum is decided. "The odds of the U.K. leaving the EU have fallen below 30% again, but there are at least five more polls to go, and given the 130% increase in [the pound against the U.S. dollar] 1-week implied options volatility on Friday, this is still a market that is fragile and happy to turn on a dime," Chris Weston, chief market strategist at IG, said in a note to investors on Monday.

Weekend polls reflected a shift in sentiment away from a Brexit. Specifically, an opinion poll by Survation for newspaper The Daily Mail on Sunday indicated the "remain" side at 45%, versus 42% for "leave." There is some speculation that the killing of U.K. politician Jo Cox has swayed some voters who were on the fence to vote in favor of remaining an EU member.

idiot investor wrote:

Ghost of Igloi wrote:

•

Doubled my holdings in SPLS today. That's probably it for the buying spree for awhile.

Read more:

http://www.letsrun.com/forum/flat_read.php?board=1&id=6684913&thread=5369837#6684913#ixzz4BgEcF5ja

Why would you buy a stock that you don't like?

bump

High valuations no reason to stray

http://news.morningstar.com/cover/videocenter.aspx?id=756779

High valuations a good reason to pray.

https://www.fleckensteincapital.com/dailyrap.aspx

Bill Fleckenstein wrote:

High valuations a good reason to pray.

https://www.fleckensteincapital.com/dailyrap.aspx

Who?

Growl?

http://wolfstreet.com/2016/06/20/share-buyback-announcements-plunge-stocks-at-risk-financial-engineering/