Today's financial news

* The recent ups and downs of the market this year could be created by the Fed. They cannot raise it too much this year as most other countries are doing the same. The hike helps some influx of the foreign funds, but it would screw up the market badly.

The strong USD would cut the corporate profits and this earnings season does not look good.

* Ted is the less of all evils. They work for the votes, not for the country long term.

* Ackman, another fallen angel? I bet he does not allow his investors to withdraw easily. Shame on you if you've lost big times twice. Try to buy an ETF that stimulates the market and you're far ahead of Ackman's funds in 2015 and so far this year. In my books, I explain why you should not invest in hedge funds. A $10 book could save you thousands or millions.

* China's service expansion has been expected as it is moving from a manufacturing (export) economy to a service economy. It will continue. The recent problem is the banks are forced to be part owners of failing companies. Who's stupid idea?