• Category Archives Crypto Currency
  • Bankers Ditch 7-Figure Salaries To Climb Aboard The ICO “Rocketship”

    In just a few short months, companies – many of dubious legitimacy – have raised more than a billion dollars through ICOs. Some of the better-hyped offerings in the field of 900 new coins that have been created this year managed to raise tens of millions of dollars in minutes. Investors, who were eager to throw money at the new coins, blindly hoping they would land on the next bitcoin or Ethereum.
    With all this money flying around, it’s no small wonder that bankers in New York, Hong Kong and London are abandoning seven-figure salaries to try their luck in the nascent ICO industry, according to Bloomberg. Stories like this have become commonplace with every passing fintech trend, as bankers, fearing the technology’s potential to disrupt the banking business and threaten their bonus pool, hoping to cash in on the next technology enabled ‘revolution.’

    This post was published at Zero Hedge on Jul 26, 2017.

  • Asian Metals Market Update: July-11-2017

    I am against selling gold, silver, copper and crude oil unless they fall below yesterday’s low. Once again there is not much economic data today. Physical demand in Asia and premiums will be the key to gold and silver prices today. A stronger demand along with firmer premiums will ensure that gold and silver rise today.
    The focus of global investors is on crypto currencies. Quick returns and extreme volatility in crypto currencies has resulted in more and more traditional bullion investors and traders switching to bitcoin and other crypto currencies. Metals and energy prices are dictated by fundamentals.

    This post was published at GoldSeek on 11 July 2017.

  • CFTC Approves Options Trading In Bitcoin

    US regulators aren’t yet comfortable with bitcoin ETFs (although a quad-levered S&P ETF is just fine for mom and pop), but apparently options and swaps are another story.
    This week, the CFTC took a bold step forward in terms of granting institutional investors access to the bitcoin market, approving the creation of the first SEF or Swap Execution Facility. Previously, traders who wished to place bets in bitcoin derivatives markets were forced to operate in markets that were strictly OTC. But now the agency has issued a registration order to LedgerX, granting it status with the CFTC as a Swap Execution Facility, in the process approving bitcoin options trading.
    SEFs are platforms for swap trading that were created under Dodd-Frank to bring tighter regulatory scrutiny to derivatives markets. By authorizing the first SEF for bitcoin options, the CFTC is effectively clearing the way for institutional traders like hedge funds and CTAs to participate in those markets.
    ‘LedgerX is an institutional trading and clearing platform which has been patiently waiting for full regulatory approval from the CFTC to trade and clear options on bitcoin.

    This post was published at Zero Hedge on Jul 8, 2017.

  • People Should Know When They’re Conquered

    Before we get started, go and check out Episode 7 of The Monthly Dirtcast! I’m interviewing Andy Milovich, general manager of the Myrtle Beach Pelicans. We get into the economics of minor league baseball, and some other really funny stuff. I was cracking up throughout the last half of the show.
    Two weeks ago, I took a shot and called the top of the stock market. If you are a newsletter writer and you aren’t trying to call major turns in the market, you are not really doing your job.
    If you missed that issue, I suggest you go back and take a look at it. My argument is that speculation is getting out of control. And not just on stocks – on bitcoin, comic books, all kinds of stuff.
    When you have one bubble, you usually have others, concurrently.
    But the one that people are most focused on is the bubble (if you want to call it that) involving Facebook, Amazon, Netflix, and Google. Throw in Apple and Tesla for good measure, and maybe a few more.
    A handful of tech stocks have gone bananas. So, let’s do some basic blocking and tackling.
    I actually spend almost no time on charts in The 10th Man, but I think technical analysis is really important. The quality of the analysis often depends on the abilities of the analyst, and one of the best is Frank Cappelleri at Instinet.
    He has pointed out that on a short-term basis, the NDX (which largely tracks large-cap tech stocks) has formed a head-and-shoulders top and is breaking trend.

    This post was published at Mauldin Economics on JULY 6, 2017.

  • The Golden Age Has Just Begun

    Some Things Actually Go Up Before and During the Fall…
    In recent issues of Seasonal Insights I have discussed two asset classes that tend to suffer performance problems in most years until the autumn, namely stocks and bitcoin.
    I thought you might for a change want to hear of an asset that will be in a seasonal uptrend over coming months.
    Such assets do of course exist, and one that has particularly good prospects at the moment is gold.
    You may well have already heard that gold prices typically exhibit strength in the second half of the year.
    But when exactly does gold begin to rally, and how long does its strength last?
    A close Look at the Seasonal Trend in Gold
    Take a look at the seasonal chart of gold below. Contrary to standard charts, seasonal charts illustrate the average performance of an asset price in the course of a year. In this case the prices of the past 20 years were averaged. The horizontal axis depicts the time of the year, while the vertical axis shows the average price performance.

    This post was published at Acting-Man on July 5, 2017.

  • David Morgan: Cryptocurrencies Can be Profitable for Nimble Investors

    The following video was published by The Morgan Report on Jun 5, 2017
    Morgan also discusses the metals he’s interested in right now and explains why he thinks gold and the blockchain could eventually be used together.
    David Morgan is best known for his commentary on precious metals, particularly silver, but as he’s emphasized in the past, The Morgan Report covers a wide array of commodities and investment opportunities. At the recent International Metal Writers Conference, he proved that point with a presentation that covered precious metals and the blockchain.

  • Are Stock Traders Actually More Pessimistic Than Bond Traders?

    Authored by Kevin Muir via The Macro Tourist blog,
    As a former equity guy, it pains me to say that when the bond and equity markets are at odds, it usually pays to go with the bond guys. Let’s face it, the bond guys are better at math, often smarter, and less likely to fall for a story. Therefore I am a little at a loss regarding this next chart, as it appears the stock jockeys are more sanguine about rates than the fixed income crew.
    Yesterday the SPDR Utility ETF closed at a new all-time high. With all the excitement regarding the FANG stocks, along with the manic chasing occurring in TSLA and bitcoin, you would figure that sentiment would be bubbling over. Shouldn’t investors be dumping utility stocks like University students returning on Thanksgiving weekend to their old high school sweethearts? Instead, we find investors gobbling up utilities like rates are never going higher.

    This post was published at Zero Hedge on May 31, 2017.

  • A Stock Market Crash: A Matter Of ‘When,’ Not ‘If’

    Given group-think and the determination of policy makers to do ‘whatever it takes’ to prevent the next market ‘crash,’ we think that the low-volatility levitation magic act of stocks and bonds will exist until the disenchanting moment when it does not. And then all hell will break loose, a lamentable scenario that will nevertheless present opportunities that are likely to be both extraordinary and ephemeral. – Highly regarded hedge fund manager, Paul Singer, in his latest investor newsletter
    Singer has apparently has unloaded $5 billion worth of stock, which is 15% of his funds management.
    Anyone happen to notice that several market commentators have argued that Bitcoin is a bubble but the same stock ‘experts’ look the other way as the U. S. stock market becomes more overvalued by the day vs. the deteriorating underlying fundamentals? Bitcoin going ‘parabolic’ triggers alarm bells but it’s okay if the stock price of AMZN is hurtling toward parity with the price of one ounce of gold. Tesla burns a billion per year in cash. It sold 76,000 cars last year vs. 10 million worldwide for General Motors. Yet Tesla’s market cap is $51.7 billion vs. $48.8 billion for GM.

    This post was published at Investment Research Dynamics on May 29, 2017.

  • Gartman Turns Bullish On Tech: “Every Time We Think The Market Is Overbought, It Moves Higher”

    First, it was Warren Buffett turning bullish on tech, and now none other than Dennis Gartman has thrown in the towel on “things that if dropped on your foot shall hurt’ and will instead focus on “buying the things that are either replacing these simple things or are making these simple things better.”
    From his latest note:
    We stand in awe of the sheer relentless nature of the global bull market. Unlike the parabolic rise by Bitcoin, for example, the trend from the lower left to the upper right in global equity prices is measured… is reasonable… is relentless and is, in the end, majestic in nature. It will stop when it stops and not a moment before. Every time we think that the market is overbought, it consolidates and moves higher.
    It is interesting then to note that the CNN Fear & Greed Index has been ‘locked’ in recent days a few points either side of 50, where 50 is evenly balanced between the bullish and bearish forces at work. When the Index is below 20 and has turned higher, the market is oversold and due for a rally. When it is above 75 or so and turns down, the market’s over-bought and due for weakness. But at 50 it is neutral… utterly and completely… allowing the trend at hand to obtain a while longer and the trend at hand is clearly a bullish trend.

    This post was published at Zero Hedge on May 25, 2017.