Sure there is the threat (or reality) of corporations losing hundred of millions of dollars when their computer network systems are hacked by outside sources. But a far bigger threat could be employee - ex employee lawsuits against their own company due to classified information being hacked and then released. Add to that a company that chooses to ignore cyber security protection or does very little to protect employee confidential information and you could see thousands of lawsuits pop up over nights all asking for hundreds of millions dollars in worker compensation. We're talking huge lawsuits that will roil Corporate America and shake the very business foundation we live on. So now Corporate American has two major threats to deal with. Outside hacking attacks of Corporate data, files, records, short/long term plans, credit card numbers, etc. And then the Clear and Present danger of current (and or) ex employees suing the pants of their current or ex employer for lax or non-existent cyber security protection, which in turn caused the unlawful release of employee personal and confidential records. Don't believe me - then read on.
A former director of technology for Sony Pictures Entertainment has sued the company over the data breach that resulted in the online posting of his private financial and personal information. Lionel Felix's lawsuit filed Thursday in federal court in Los Angeles states he ran the company's infrastructure for Sony Pictures Digital Entertainment from 2001 to 2004. His lawsuit is joined by Michael Levine, one of the company's former technical directors. The suit seeks class action status for the nearly 50,000 current and former employees' whose data was stolen and posted online by hackers. Their suit alleges Sony ignored warnings about the security of its networks.
Looking for FireEye to jump over $38 a share next week - and that could be a conservative estimate.
OK - some good publicity on the side never hurt anyone. But I've rode this tiger before when it seemed like massive cyber security hits were happening weekly. And during that time I rode Feye it dove from high $30's to low $30's. Very frustrating since one would think Feye stock would rocket higher due to the ever increasing threat of Hack any where, any time. Lets see what happens next week but if Feye can keep the uptrend going then maybe this time it breaks into the $40's and head for $50 plus. This sucker has a long way to go before it gets back to its short lived 52 week high,
I'm long Feye and this Sony Hack seems to have caught the attention of investors as well as corporate America. But in the past we also had bit time hacks at Target, Best Buys, Home Depot, Banks, etc., while Feye traded down. So is the move up this week temporary or is it a sign the FireEye is finally breaking out and now in demand due to the Sony disaster??
End of the year selling - cash out with profit?
Greece Dec. 29 deadline for new Government - Won't happen
No Q.E for Europe - due to Greece, Portugal, Spain, Italy all broke
Oil continued drop scares bull - Also Putin
Two huge up days follow by ?
Short trading week coming - Should increase Volatility
Lastly Republicans take over in January - Watch the fireworks fly
Market now knows the Fed will take out "patience" and replace that with "inevitable" come next Fed meeting or in February at the latest. Gold can now smell the May - June rate hike coming and it will act accordingly. As in straight Down.
now the only question is how far does GLD fall before it bottoms out. $50 a share or possibly $60?
Never thought Yellen and Putin would be on the same page but now we have the Fed Chairwomen about to tell the world higher U.S. interest rates are coming just as Putin tells Russian Central Banks to start selling GOLD fast. Man what a serious blow to GLD as it soon falls to under $100 a share.
“I think 2015 is going to be a great year for the dollar,” said Kathy Lien of BK Asset Management. Lien added that monetary policies are going to drift further next year, and the easing and tightening in other parts of the world will make the dollar more attractive. And as the dollar strengthens gold will fall faster then anyone thought.
tomorrow? I'd hate to be long GLD when Yellen says tomorrow "so long reasonable", and "hello June rate hike".
Yellen knows she has stalled as long as she can. If she wants any credibility left on her resume she deletes "reasonable" and comes out and says "rates higher in 2015. In fact many think the wordage is history as of today. In fact I know its history. Market big sell off after Fed says Rate Party about to END.
If Yellen says "rate hikes coming in 2015 and Gold heading under $700 an ounce". Coming now sooner then you think.
Oil has further to drop
and when it does bottom it will flat line forever. Year plus since there will continue to be long term over production of oil, demand will be soft especially if China bubble pops. Shale oil and natural gas fracking in U.S. will continue for years if not decades. On top of that Canada has a ton of oil just sitting in tar sands as well as Russia. There's just too much of the black oil being pumped now and with so many suppliers all trying to do deals, the price I'm afraid will be under $45 for year's to come.
The Federal Reserve Bank, led by Janet Yellen, is preparing to rip up the balance sheets of US banks, causing capital flight and widespread branch closings, and threatening thousands of bankers’ jobs and compensation, analysts told The Post. The proposed Federal Reserve capital-requirement rules — to protect US banks from the kind of financial crisis that in 2008 brought the American banking system to its knees — may soon feel like an echo of those dreary days. Bankers are already in shock. While some of the final sums are sketchy, the Fed has spelled out the amount the eight banks will need to comply — a nauseating $21 billion in capital. It comes on top of other surcharges imposed by global regulators.
and then add a possible govt shutdown to the mix and Tvix will explode higher. Looks like an easy double to me and everyone expected the market to hold over 200 points today. When you see a big sell off like today it means - Black Friday coming. as in very Black
Thursday is supposedly the deadline for pending Govt. shutdown. Market should open way down on uncertainty especially so if Senate says they won't review any bogus House plan. Could see a good size swing to the downside tomorrow and possibly wipe out any Santa rally.
when the remove the "reasonable" wording from rate cuts and tell everyone rate increases are coming late spring - early summer 2015. Gold won't like that and correct big time.