Knowledge is power. And lack of knowledge is terrifying. This rather banal insight helps our readers by motivating our buys and sells.

Today was a bad day for trading, but as I told subscribers to take some money off the table Sunday, after the boomlet which closed last week, I followed through today.

Exiting Schlumberger, reluctantly.

Today I face what the locals call an “embarras de richesse”, a pot of cash from mySunday profit- and loss-taking (both because of taxes; I don't want to go into hock to Obama, Cuomo, and de Blasio, all off whom tax my earnings plus capital gains outside my IRA.

The US is a piker on penalties for banking wrongs.. UBS had to post bail at euros 1.1 bn ($1.5 bn) before the Swiss bank's trial for aiding money laundering and tax fraud in France.

Overnight markets have shaken off the mixed US earnings tape to trade higher across credit, FX and equities. The major mover during the Asian timezone is the AUD, which is about 0.4% firmer against the greenback following the Australian CPI print which rose to +3.0% YoY.