Latest Posts
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Finance 0
People Spent $1M On Totally Useless Ethereum “CryptoKitties”
Launched just a few days ago, people have spent over $1 million on totally useless Ethereum-based “CryptoKitties”. Techcrunch reports People have spent over $1M buying virtual cats on the Ethereum blockchain. Launched a few days ago, CryptoKitties is essentially like an digital version of Pokemon cards but based on the Ethereum blockchain. And like most viral sensations that catch on in the tech world, it’s blowing up fast. Built by Vancouver and San Francisco-based design studio AxiomZen, the game is the latest fad in the world of cryptocurrency and probably soon tech in general. People are spending a crazy amount of real m... -
Finance 0
USD Likes Tax Reform, Ignores Flynn – Updates On 5 Pairs
The US dollar enjoys a strong start to the week, rallying on the passage of the tax cuts and forgetting about Trump’s troubles. Will this continue? On the night between Friday and Saturday, the US Senate approved the tax cuts with a small majority of 51 to 49. Eventually, only Republican Bob Corker voted against the bill. He cited the ballooning deficit of between 1 to 1.4 trillion dollars over a decade. However, the rest of the holdouts managed to get concession on several items and agreed to vote in favor. The Senate bill is slightly different from the House one and it now enters a “conference” – reconciling the differences betwee... -
Finance 0
The Cost Of Fake News For The S&P 500
The fifth and final week of November 2017 was a positive one for the S&P 500 (Index: INX), where the U.S. Congress’ progress toward passing a corporate income tax reduction package helped buoy stock prices throughout the week. That is, until Friday, 1 December 2017, at 11:06 AM Eastern Standard Time, when the ABC News division of Disney (NYSE: DIS) figuratively threw a monkey wrench in the U.S. stock market’s works. The original live report included the contention that former National Security Adviser Lieutenant General Michael Flynn, who had pled guilty to lying to the Federal Bureau of Investigation that morning, ... -
Finance 0
Indian Indices Trade Marginally Higher; IT Stocks Witness Buying
Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a positive note with stocks in the IT sector and metal sector witnessing maximum buying interest. Consumer durables stocks are trading in the red. The BSE Sensex is trading up 139 points (up 0.4%) and the NSE Nifty is trading up 37 points (up 0.4%). The BSE Mid Cap index is trading up by 0.1%, while the BSE Small Cap index is trading up by 0.2%. The rupee is trading at 64.34 to the US dollar. In the news from the banking space, according to data compiled by credit rating agency ICRA, Indian state-owned banks have written off loans ... -
Finance 0
Indices Stage Intraday Recoveries In Wide Range Day
Volatility took a tick higher with profit taking sweeping across the broad before buyers zipped it all back up. Trump’s Russian investigation will add a level of uncertainty to the Tax Cut rally and markets may take another trip into Friday’s intraday low; should markets deliver a lower close Monday then it could turn into an ugly week as traders will need to defend Friday’s lows The Semiconductor Index was hardest hit last week but it was able to dig in at its 50-day MA and finish the week above this key moving average. If there is going to be a rally I would look to this index to deliver simply because it suffered the ha... -
Finance 0
Long Crude Becomes Even More Crowded: CFTC
Looking at this week’s COT report, short crude oil and short Swiss franc remain in extreme territory. This is shown below: CFTC COT (futures & options combined) – November 28, 2017 Source: CFTC, MarketsNow Notable extremes are bolded, and are highlighted when speculator positioning is more than two standard deviations above historical trailing 1-year and 3-year trends. This week’s COT report is fairly similar to the previous week. As doubts regarding future inflation take hold, speculators are trimming their short yen and short Swiss franc positions. At the same time, the US dollar continues to fall out of favor. Looking at the Brit... -
Finance 0
Long Crude Becomes Even More Crowded: CFTC
Looking at this week’s COT report, short crude oil and short Swiss franc remain in extreme territory. This is shown below: CFTC COT (futures & options combined) – November 28, 2017 Source: CFTC, MarketsNow Notable extremes are bolded, and are highlighted when speculator positioning is more than two standard deviations above historical trailing 1-year and 3-year trends. This week’s COT report is fairly similar to the previous week. As doubts regarding future inflation take hold, speculators are trimming their short yen and short Swiss franc positions. At the same time, the US dollar continues to fall out of favor. Looking at the Brit... -
Finance 0
E The Complex Source Of Germany’s Huge Current Account Surplus
“In the case of Germany, as in any surplus country, savings may be too high, but investment also may be too low. And while both factors reflect the behavior of individual households, firms, or the government, large surpluses, more often than not, are a result of high saving rates among households in aging societies. That would certainly describe Germany.” (Fabrizio Coricelli, Surmounting the German Surplus, Project Syndicate, Sept.8, 2017) Germany’s current account surplus reached an all time high of 8.6% of GDP in 2015. Last year the surplus was still very high at 8.3% of GDP. The argument is often made that Germany has been unfairly p... -
Finance 0
Market Forecast For 2018: More Volatility & Political Uncertainty
In last year’s market outlook for 2017, I anticipated a rise of around 11% in U.S. equities, in general, to place the S&P 500 Index at just above the 2400 level by the end of the year (my post was written on December 1, 2016, so my calculations and forecast hadn’t incorporated a further 80-point rally that occurred during that month until year-end). In my post of November 26, 2016, I was projecting a rally in the SPX to around 2700 by the next U.S. Presidential election in 2020. Markets have certainly been much more robust this year than I anticipated, as this level has almost been hit already. It rallied to an all-time high o... -
Finance 0
TV’s Cry For Help
Welcome to the TV industry’s latest bit of magic … prestidigitalization. It’s a new twist on the old sleight-of-measurement trick. Here’s how it works. You buy TV the old-fashioned way because, well, that’s how you buy TV. The ratings suck. You want to pay less because you’re getting less. TV says, “You’re not getting less. Look at our newly crafted, data-driven metrics. We’re delivering premium audiences across omni-channel touchpoints and generating better return-on-ad-spends than ever!” If you can brush the buzzwords off your shoulder, you respond, “Yeah, but Nielsen says the ratings are down.” And TV triumphantly c...
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