Stocks and Dollars

The GBP/USD got to the 1.65 level, which is near the 61.8% retracement of the May decline (1.6750 to 1.6050).

Looking at the 1H chart, we see that this rally has been sharp and within a rising channel. Thinking in Elliott Wave terms, perhaps this dynamic move in the channel is

China Play Stocks submits:

Nassim Taleb’s book popularized the notion of a black swan — a highly improbable event — that can wreck havoc on an investor’s portfolio. The recent financial crisis had its origins in one such black swan: the nationwide decline of housing prices in America which invalidated a lot of the assumptions behind the CDOs and CDSs that many investors had bet on.

Corriente Advisors LLC is one of the few hedge funds that benefited from this black swan by betting against U.S. subprime mortgages and delivering a six-fold gain to investors. Corriente also profited last year by betting against the sovereign debt of the weaker European nations such as Greece. Now, Corriente is betting against China.

Corriente’s basic logic is laid out in this article, and can be summarized as follows:

Raw materials: Corriente says China has consumed just 65pc of the cement it has produced in the past five

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Elie Rosenberg submits:

Telephone and Data Systems (TDS) is an intriguing combination of asset play and special situation, but it is unclear if and when value will be unlocked for shareholders. TDS is a holding company whose two main holdings are an 83% stake in a wireless carrier, U.S. Cellular (traded separately as USM), and a 100% stake in a wireline phone company, TDS Telecom. The founding Carlson family has majority voting rights, although they only own about ten percent of the company.

U.S. Cellular is now the fifth largest wireless provider in the U.S. (assuming the AT&T / T-Mobile merger is approved), with 6 million customers and provided 84% of TDS revenues in the past fiscal year. TDS Telecom runs two businesses with a total of about 1.1 million subscriber lines- an ILEC (incumbent local exchange carrier) serving rural areas and a CLEC (competitive local exchange carrier) in select metro markets.

Both

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Cable has bounced back well from its Support at 1.6050 last week. The overall picture is bullish. However, there is some Resistance near 1.6550 (fault line Resistance on the weekly candles) and a break above it might trigger further upmove towards 1.6600-6750-6800 going forward. If the Resistance at 1.6550 holds,

Cable has bounced back well from its Support at 1.6050 last week. The overall picture is bullish. However, there is some Resistance near 1.6550 (fault line Resistance on the weekly candles) and a break above it might trigger further upmove towards 1.6600-6750-6800 going forward. If the Resistance at 1.6550 holds,

Cable has bounced back well from its Support at 1.6050 last week. The overall picture is bullish. However, there is some Resistance near 1.6550 (fault line Resistance on the weekly candles) and a break above it might trigger further upmove towards 1.6600-6750-6800 going forward. If the Resistance at 1.6550 holds,

Cable has bounced back well from its Support at 1.6050 last week. The overall picture is bullish. However, there is some Resistance near 1.6550 (fault line Resistance on the weekly candles) and a break above it might trigger further upmove towards 1.6600-6750-6800 going forward. If the Resistance at 1.6550 holds,

The U.S. dollar is broadly higher Monday, but currency markets are whisper quiet, with separate holidays in the U.S. and the U.K. contributing to thin volumes.

U.S. and U.K. bank holidays drained an estimated two-thirds of daily foreign-exchange turnover out of the market.

The euro remained under pressure across the board, down