AMD Does This, When This Happens

Advanced Micro Devices reported their second quarter earnings yesterday, but they couldn’t live up to the expectations. Revenue was down 13% year over year, net income fell over 40% and AMD said that it expects its full-year results won’t be as good as the previous forecast.  On the news the stock fell double digits.

I remember writing a post about AMD almost one year ago and I remember that $33 level being a monthly supply zone which eventually push price to the sub $20 level.  It’s still so vivid because I remember I was wrong on the call and thought price was going higher. 

AMD Just Got Upgraded

NOTE: I should of known better, as very few things trump a monthly zone, but at the time, all I saw was AMD’s price continuing to higher after years of hibernation.

The CEO, Lisa Su said the weaker than expected forecast was due to weakness in gaming consoles as both Microsoft Corporation and Sony Corp announced they were coming out with new game consoles.  Needless to say the stock fell double digits yesterday.  However, I’m not surprised because the way that monthly supply got me almost a year ago, got many traders/investors who went long yesterday or didn’t take some profits off the table.

On the daily chart, price formed a “M” pattern which is a reversal pattern. So the potential price action over the coming days/weeks might be to the downside.

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.

STEEM is within the Top 10 Crypto-Blockchain Projects…

…according to the 13th Update of The Center for Information and Industry Development (CCID), under China’s Ministry of Industry and Information Technology.

China Publishes New Rankings of 37 Crypto Projects

STEEM is ranked 9th while BITCOIN is 11th on a list of 37 Crypto-Blockchain projects.

EOS is the 1st project, it makes sense to me since, if I am not wrong, some of the most important Block Producers are located at China.

I am happy to see that STEEM is up at some of the most important Blockchain Ranks. Surely, projects as @wherein are doing an excellent work there…

It is weird that Cryptocurrency trading is still banned at China…I don’t think this status will last for long since also the government is willing to understand the technicalities and applicabilities of this technology…

In the meantime, as usual, keep calm and steem on!

@toofasteddie

Crypto Contest August 1: PlayChip

PlayChip (HitBTC: PLABTC) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, PlayChip began a wave one advance on January 30. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 30, and the red wave two (blue sub-waves a-b-c) correction ended on July 10. If this wave count is correct, PlayChip should be heading next towards the January 30 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

PlayChip is an universal gaming token for sports betting, fantasy sports and e-sports. You can watch their intro video below.

(Sources: PlayChip and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

Two Minute Crypto – Time Well Spent?

Click the audio tab below to listen to the 47th episode of my weekly crypto podcast ‘Two Minute Crypto.’ These are intended to be short, single-topic ramblings on some aspect of the cryptosphere. Consider dropping a like and or a review on iTunes or Podbean if you enjoy the podcast. Comments and critiques welcome.



External Podcast Links

https://podcasts.apple.com/au/podcast/two-minute-crypto-time-well-spent/id1441492450?i=1000445836307

or

https://www.podbean.com/eu/pb-cxc95-b9e575


Transcript

Time Well Spent?

Welcome to Two Minute Crypto. It would take either a brave or old man to deny that blockchain is interesting. Regardless of whether you perceive possible investment value in any particular project – the in’s and out of blockchain are in and of themselves fascinating. Decentralized transactions, trustless commerce, open access to information, uncensorable records and on and on the cognitive appeal of blockchain goes. As a crypto enthusiast, you have almost certainly spent time exploring and reflecting upon these concepts as you first got to grips with the space. Doubtless, that was time well spent.

The question today though is – Are you still learning about crypto or has your interaction with blockchain slowly degenerated to chart gazing, blockfolio checking, telegram lurking and the consumption of hyperbolic Youtube nonsense?

When was the last time you read a long format article on the tech side of crypto? How about a piece with a contrarian perspective on the value proposition of blockchain? Or a deep dive into Austrian economics?

If you look back over the last week and your engagement with the crypto space – how much of that time involved deepening your knowledge of some aspect of blockchain, economics, trading or investment? Sure, checking in on the Telegram channel of a particular project can offer some insight from time to time but mostly it’s just hype, hope, trolling and admins doing what they are paid to do -spinning the ‘everything is awesome’ narrative.

If you are primarily an investor in crypto – frequent checks of your portfolio balance are simply draining both time and attention for no benefit whatsoever.

We may all be forgiven the very occasional hopium laced video about XYZ crypto to the moon but this should never comprise a significant portion of your engagement with this space. Aside from undermining your ability to make dispassionate decisions about crypto projects – ultimately it will lead to disillusionment with crypto as the ‘too good to be true narrative’ turns out to be just that.

Efficient time management is critical to compounding the financial benefits most of us hope to extract from our engagement with crypto. A focus on learning (broadly applied), the ruthless re-examination of blockchain assumptions and a continual effort to optimize our crypto routines are key to making the most of this crypto ‘moment’.

Thanks for listening.


Reason Not To Buy Ford Under $10

Three months ago, Ford announced first quarter earning in which net income declined, to $1.1 billion from $1.7 billion. Earnings per share were $0.29 cents per share, down from $0.44, but better than expected. Also, revenue fell to $40.3 billion from $41.9 billion a year earlier, but higher than expected. Beating the expectations were enough to send the stock 10% higher on Friday, it’s best one day performance since 2009.

Last year global car
sales declined for the first time since 2009. Based on first half U.S auto
sales, the U.S. auto sales are on pace to drop for a second year in a row.

Automakers are facing headwinds related to a trade war with China and threats of further tariffs up to 25% that could be implemented in November. The Chinese market also is facing oversaturation with predictions of a 7.5% decrease in sales this year after it began to shrink at the end of 2018.

The U.S. auto industry is heading toward a nearly 30% decrease in sales by 2022, a Bank of America Merrill Lynch analyst predicts.

Source

Yet this article I read on Yahoo Finance stated the 3 reasons to buy Ford under $10 were the following: Ford’s Volume and Market Share Trends Are Improving, Depressed Domestic Revenue Trends Will Turn Around, Profit Trends Are Moving in the Right Direction.

I won’t get into the details of the article because the case to buy Ford in my opinion is weak. All one has to do is look at the chart. The fact that price couldn’t even make it to the first weekly supply at $11.25, but stalled and fell at $10.50 tells you the #1 reason not to buy Ford under $10. The chart suggests price is going to fall to the monthly demand at $5.25.

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.