In Elliott Wave terms, Revain began a wave one advance on June 26. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 2, and the red wave two (blue sub-waves a-b-c) correction ended on July 21. If this wave count is correct, Revain should be heading next towards the July 2 peak in the red wave three.
We are learning that one of the joys of living on the outskirts of a village is that you cannot take anything for granted. This includes things like having enough water pressure to take a shower. The water gets to the shower, however after a short period the geyser cuts off and the water runs cold.
It took me a while to figure out that it’s a safety feature on the geyser. It’s a gas geyser, so my reasoning was that the water keeps the heat exchanger from overheating and melting the solder etc. If there is not enough water, the heat exchanger starts getting too hot, which is when the flames are turned off and we get cold water.
I have swapped out the geyser so was quite sure it was not just in need of maintenance.
I also thought the pipes were rusted to such a degree that they were impeding the flow of water. I now have a pipe going directly from the source, to the upper floor of the house, but this made no difference.
The last thing to do was buy a pump.
Heres the pump we ended up with, it has an attachment that turn the pump on automatically when the pressure drops, i.e. when you open a tap. It can apparently pump up to 4.3 bar of pressure at a height of 10 metres. The highest the pipes in the house go is around eight metres, so we should be getting the full 4.3 bar.
Thats almost 50% more than the pressure we get from the council, which is 3 bar. I also think it does not maintain that values as you could visibly see the pressure drop the longer you kept a tap open.
Here is where it’s going to be connected. You can see I am bypassing the lower floor by having connected another plastic pipe and routed it around the outside of the house.
We also previously tried using this, a pump that we had at the well which is used to pump the water out from the well. At 250 Watt it just does not have the oomf to boost the pressure. I am reusing the fittings and the braided hoses.
It was one of those really warm days, so I assembled the pump indoors, away from the heat and the sun. At this point I had made a trip to the hardware store to buy a fitting, as the pressure switch has a male connector and I was expecting a female, like on the pump and the smaller pump too.
I needed to connect the water at the bottom too, so I used a t-piece with nipples and reducers to get to the correct size. Plumbing is a lot like a jigsaw puzzle for me, having to choose between different bits and pieces then assembling them to get what you need.
The reducer to go from 1″ to 3/4″, it’s funny, countries that have been using the metric system for many many years still reference plumbing fittings in inches. The braided hoses have allowed me to be more flexible (har har) in where I put the pump and how it’s connected.
The outlet is also a braided hose. These pumps should not be run dry, so you are supposed to fill them using the hole where the red top is. Because I am connecting it to the council water, I just opened the top a bit to get the air out, as the water will be forced in anyway.
Finally connected to the new supply for the upper floor, again through the appropriate reducer now from 3/4″ to 1/2″.
I did not get many pictures of the actual process of installation, as is usually the case I start working and only remember to take phots at the end. Here you can see more of the pressure switch, green when it has power, open up a tap and the centre light turns n as well along with the pump.
This is a semi-temporary position, I will move it to the back of the house soon, as well as bury the pipes in the ground. Thats going to take a fair amount of wok and other things are higher on the priority list.
What an amazing shelter! This too is temporary and is primarily to keep the water off. It is right by the street (almost no pedestrians, but still) so it’s a bit obvious and these pumps are not cheap. So I really need to make a plan to disguise the fact that there is a pump here.
Great news is that the water pressure is significantly higher, so high in fact I could switch my geyser from the lowest pressure to the highest. We have gone from not being able to take a decent shower, to taking POWER showers!
Halliburton issued their second-quarter earnings report today. The beat the expectations on earnings, but was short expectations on sales.
“International revenue increased 6% sequentially, confirming our expectation of high single-digit international growth for all of 2019. Momentum is building internationally and activity improvement should continue into 2020,” said eff Miller, Chairman, President and CEO. “Both of our divisions made meaningful contributions to growing North America revenue and margins in the second quarter. We are successfully executing our strategy of controlling what we can control and managing our business to perform well in any market conditions.”
That was enough for the stock to receive a couple of upgrades. Citigroup’s Scott Gruber reiterated a Buy rating and $33 price target and Stephens analyst Tommy Moll reiterated an Overweight rating and $45 price target on the stock, highlighting Halliburton’s ability to deliver “higher margins in North America despite macro headwinds.”
But here’s the problem, the Energy Select Sector SPDR ETF (XLE) is lagging the S&P 500,
and Halliburton is lagging the XLE
Although oil has risen since January lows, it’s still below $60. Thus, there isn’t a lot of incentive for the producers to produce because they are marginally making a profit, so don’t have a lot of need for the service companies such as Halliburton.
Thus, despite the upgrades, the chart suggest to short Halliburton at the weekly supply at $25.25
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
The Dow Jones Industrial
Average, S&P 500 and Nasdaq Composite keep making new all-time highs. So do you still believe in this Bull
Market??? If you do, well…you should because
we still are making higher highs vs. lower lows. But I want to give you some
food for thought to be careful.
Consumer discretionary to technology, cyclical stocks that typically associated with bull markets while in down turns or bear markets, consumer staples typically outperform. However, both consumer discretionary and consumer staples sector are at all time highs…TOGETHER…HOW CAN THIS BE???
With the US equity markets, consumer staples and consumer discretionary all all-time highs, something has to give because based on intermarket correlations, this doesn’t make any sense. This is when one has to dig a bit deeper.
The consumer discretionary sector has consistently lagged the consumer staples sector ever since last year.
For the bull market to continue to run, the discretionary sector must eventually outrun the staples or at some point we will see the equity markets start making lower highs, then lower lows.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
….and it would indicate something good for the price if STEEM wouldn’t have so much selling pressure from the wales and from @steemit in particular.
A double Bottom pattern is a Bullish Pattern that usually describes a change in trend and a momentum reversal from prior leading price action. It is normally accompanied for a divergence in some of the technical indicators and this is what we see at RSI indicator on the daily chart:
RSI Indicator:
MACD Indicator:
… as I said, if it was any other ALTCOIN I would not have any doubt to claim BULLISH Action on it but we are talking about STEEM which is being really controlled from those that state that STEEM is a decentralized blockchain….
Will see what happens next…in the meantime, I would try to accumulate as much as possible.
Bulls are still defending $10,000, but bears are attempting to land a knockout punch. Price dropped from $10,500 to $10,150 in less than 20 mins. Just another day in the crypto market.
In today’s video I’ll analyze Bitcoin, Litecoin and Ethereum. We’ll discuss the 4 hour death cross, where prices may be heading next, traps to avoid and so much more. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Workin
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When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin. Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin.
When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.
Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.
Binance
EOS
Ethereum
Litecoin
Neo
Steem
Tron
Zcash
Based on the moving averages and the last daily closing price, relative to the moving averages,
the altcoins relative strength, relative to Bitcoin are the following:
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
The
number of charging points in China has risen to 1m (up 69% YoY).
At
the end of 2018 there were 760k charging points in China, up from 440k at end
of 2017.
Analysis and Comments
Charging infrastructure is a lot more important than battery cost and subsidies in sustaining EV growth. The Chinese authorities are shifting their priorities from subsidizing EVs to financing the roll out of charging infrastructure.
The availability of high power/speed charging infrastructure will make short range EVs (~150miles) viable as your first car rather than your second one.
This is necessary, as battery costs are likely to bottom out at above $100/kWh which would make mass market EVs with long range commercially unaviable in the absence of subsidies.
Indian cities are planning to buythousands of electric buses over the next few years.
In India, the government is spending $1.3bn on its electric bus programme and the funds will be used to subsidise60% of the cost of the bus.
Analysis and Comments
Chinese bus OEMs such as BYD are the best placed to benefit from this opportunity, because they have a clear cost advantage versus bus OEMs in Europe and the US.
For the cobalt market (and hence Umicore), the bus market will also be important due to the shift in battery technology in buses from LFP to NMC which will boost cobalt demand.
Instead of looking at financial markets or asset classes on an individual basis, intermarket analysis looks at several strongly correlated markets or asset classes, such as stocks, bonds and commodities. This type of analysis expands on simply looking at each individual market or asset in isolation by also looking at other markets or assets that have a strong relationship to the market or asset being considered.
The US economy is still the largest in the world and the US dollar is still the most powerful currency in the world. Over half of all foreign currency reserves in the world are in US dollars. Thus, the asset classes relative strength will be compared to the US Dollar.
Bitcoin
30 Yr Bond
Copper
Euro Dollar
Gold
Oil
Soybeans
S&P 500
Based on the moving averages and the last daily closing price, relative to the moving averages,
the asset classes’ relative strength, relative to the US Dollar are the following:
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
I have been blogging since early 2018, not what I would consider to be “long” in blogging terms, but long enough to have become a part of the furniture. During that time I have seen big changes in the crypto blogging space: some rapid, some more sedate.
One of the sedate ones has now become too obvious to ignore: it’s too quiet in here…
How often do you make new followers on blogging platforms these days? It still happens, but it’s not nearly as frequent as it was a year ago, is it? How many comments do you get on each blog post?
Despite the best efforts of many bloggers who frequently leave comments and engage wherever they can (thank you guys – I really appreciate the efforts you make – both on my posts and on the posts of other bloggers), the numbers are still way off what they once were. If I look at Steemit, the platform I started blogging (and still use to this day), I now so rarely get comments that I don’t even check my replies daily anymore! At one stage I would check replies several times a day.
There is also a notable drop in post earnings: my own account has been hard hit – though granted – some of that has to do with the price of the tokens one earns. Even so: token price is a reflection of interest in the token, and interest in STEEM is disturbingly low! I had hoped to be able to earn a living from blogging, though if this carries on I can see that I shall have to make other plans. Even some of the top Steemit bloggers are earning pathetically little compared to what they once did, a clear sign that interaction is shrinking dramatically.
It’s not just Steemit that has been hit, Trybe is visibly empty too. Here, take a look at the bottom of “page 1” of my Trybe friends list. I like to use this list to see who has been online lately. I normally select each member who has been online since I last visited, check their blog and then comment on their new posts. But so many of them have just not been online lately…
From https://old.trybe.one/members/bitbrain/friends/
It’s hard to engage with friends who are not there! Imagine what pages 2 and 3 look like! I miss the regular posts of some very good bloggers who used to post frequently. Some of my Steemit friends haven’t been seen in nearly a year!
Don’t get me wrong: I’m not blaming anybody for anything here: neither the platforms nor the bloggers. I fully understand that it takes time to generate and curate good content. (I hate the system-gaming heajin-style copy-&-paste posts which have little to no effort put into them) Time IS money, and not all of us can afford to spend several hours a day on crypto social media platforms – especially when payouts are poor. It isn’t all about the money, but it does become “not economically viable” at some point.
I sense a form of despondency among my fellow crypto bloggers, and that is to be expected. The altcoin market remains nightmarish in many respects, that is having a clear effect in the platforms based on those coins. I think that STEEM and the STEEM-based platforms are suffering from that particularly hard: Dan Larimer’s middle-child is playing the role of classic neglected middle-child to a T.
Personally I have already sold off quite a lot of my STEEM, and have suggested that others may want to follow suit. I know that many other STEEM holders have already sold off a significant portion of their holdings.
However…
I won’t be selling of all of my STEEM, and when I do sell it, it’s to buy other altcoins – not to cash out to fiat!
I am well aware that altcoins are not popular right now. I have seen the BTC value of my altcoin portfolio plunge during the last few months. Bitcoin maximalists are everywhere, I don’t recall ever seeing anti-altcoin sentiment this high before (probably because the majority of altcoins have not been around for long enough).
I am NOT a supporter of the saying “The trend is your friend”. Instead I consider the trend to be a wolf in sheep’s clothing, somebody who leads you along the path, and then once you become complacent, stabs you in the back with a sharp trend reversal. As a Value Investor and a Contrarian, my default instinct is to oppose the trend. But what does that mean in real terms?
There is blood on the streets. The altcoins are bleeding.
We ALL know: “Buy Low, Sell High”. Yet when the price of something is low, what do we do? We panic sell. When price surges high, what do we do? We FOMO buy.
Hear the wisdom of Bit Brain: NOW is the time to BUY altcoins!
I believe that this is a golden opportunity. Bitcoin can’t keep climbing alone – it makes no economic sense! I saw a Tweet this morning which said that the Bitcoin Whitepaper is the only one worth reading. Nothing could be further from the truth. There are MANY good altcoins out there with a solid token economics model. They will make money, irrespective of what BTC does. I agree that BTC is the only real store-of-value crypto, but it is not the only crypto that has value! I still expect good altcoins to thrash BTC in terms of ROI over the next year or two.
Mark my words, sentiment towards altcoins WILL swing around again, and when it does, make sure that you are holding some good ones!
And this is why I’m keeping some STEEM. This is why I am slowly letting my TRYBE tokens grow in number. It’s just like mining BTC: too often miners shut down when it becomes “unprofitable” to mine. But what if they just kept on mining – took the short-term loss – and then sold that BTC when the market recovered? They would make a fortune in profits, especially because mining difficulty drops when miners pull out.
If TRYBE ever “Moons” by 100x and becomes worth $0.10 per token, then you can’t expect to still earn 1000 TRYBE for each post that you write! BUT YOU CAN EARN THAT TODAY!
So I suggest holding onto that which you can accumulate now, because markets ARE cyclic – often unpredictable, but cyclic nonetheless. I suggest that you keep on blogging, keep on curating, keep on supporting one another. We ALL know that crypto is still in it’s early days and that a lot of money will still enter this asset class. When it does so, it would be good if we could have our platforms ready to receive the influx of new interest, interest which would greatly boost the value of our tokens again.
So take heart, don’t feel down just because your altcoins are worth nothing. Don’t give up just because your earnings are very low. I am literally betting the future of my financial success on crypto – and honestly – I’m not too worried about it. For me it’s more a “when?” than an “if”. (No: don’t follow my example, I didn’t really have a choice due to a rather unique set of circumstances. Don’t put more into crypto than what you can afford to lose!)
Hang in there crypto friends, the altcoins will make a comeback. You’ll see.
“It’s always darkest before the dawn.”
Yours in crypto
Bit Brain
“The secret to success: find out where people are going and get there first”
~ Mark Twain
“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful”
