LA Rams ready for kickoff in new, $5 billion high-tech SoFi Stadium — without fans
The Los Angeles Rams’ transition to the West Coast is nearly complete. After playing the past four seasons in the Coliseum, the NFL’s oldest stadium, they’ll now be playing in the NFL’s newest: a brand new $5 billion state of the art indoor-outdoor stadium. But when they take the field against the Dallas Cowboys on Sunday, they’ll do it without fans. “I don’t think when we sat at the drawing board five years ago, we ever conceived that we would open up without fans, but I don’t think there’s anything about 2020 that any of us ever could have conceived,” Kevin Demoff, the Los Angeles Rams COO, told … (full story)
GBPUSD Reaches First Target at 1.2980
If you saw the latest forex forecast video, you know that GBPUSD was battling a key trend line support. Not only was it battling this level, but buyers were struggling to keep their heads above 1.3260 support. As such, I was anticipating a pullback from GBPUSD. Monday’s session closed below that trend line, which confirmed the breakdown and exposed a support level I mentioned on Monday. That level is 1.2980. As you can see from the chart below, GBPUSD reached that level on Tuesday. Below 1.2980 we have 1.2800 or perhaps just above it. However, if the March trend line has any significance, we could see GBPUSD bounce … (full story)
“Lost Like $4 Million In A F**king Blink” – Barstool’s Dave Portnoy Hammered On Tech Rout
Do “stocks only go up”? Well, that certainly escalated quickly, as the Nasdaq, and most of its highflying mega-tech components, are absolutely puking, as SoftBank’s Masayoshi Son’s massive “gamma squeeze” appears to be over and options dealers are likely dumping hundreds of billions of dollars in delta hedge tech stocks they don’t need, resulting in a market swoon where unseasoned Robinhood traders are experiencing their first taste of red days in six months. No other than Barstool Sports’ Dave Portnoy, the market’s crazy genius, able to whip 1.8 billion Twitter followers into a day trading army that … (full story)
NFP Preview: Will Unemployment Break Back Below 10%?
Seven months on from the initial US shutdowns, portions of the US labor market have returned to normal, especially for “white collar” employees who are able to work from home. In contrast, other areas of the labor market, including the hospitality, tourism, and restaurant sectors, remain deeply scarred. Throwing another spanner in the works, the massive fiscal stimulus from earlier in the year (highlighted by $600 in additional unemployment benefits) has worn off, and Congress has not yet reached an agreement on a new bill. Such is the bifurcated state of affairs as traders look ahead to Friday’s always … (full story)
Hedge Fund Manager Arrested For Fraud & Extortion After Admitting To Witness “Maybe I Should Go To Jail”
After being forced to close his fund, Marble Ridge Capital, after a Jeffries trader and former Navy SEAL reported his dubious conduct to Jeffries General Counsel, who informed the authorities, prompting the trader to record some seriously incriminating and embarrassing phone calls, It looks like Daniel Kamensky is finally in custody. Prosecutors in New York announced Thursday afternoon that Kamensky had been arrested and charged with securities fraud, obstruction of justice and extortion for allegedly trying to rig a bidding process involving bankrupt Neiman Marcus as Marble Ridge bid to supply the floundering … (full story)
Friday’s NFP Will Be Artificially Boosted By The Hiring Of Temporary Census Takers
A mixed U.S. Non-farm payrolls report for the month of August is expected. On the upside, the unemployment rate (U-3), which is the most followed indicator by market participants, is forecasted down at 9.8% from 10.2% in July, which would be the lowest level reached since the pandemic shutdowns started. On the downside, the consensus amongst economists expects that the broad measure of unemployment, called U-6, which includes the total unemployed plus all persons marginally attached to the labor force and the total employed part time for economic reasons, will increase for the first time since April to 17.3% versus … (full story)