They say the measure of a man’s character is not determined by how he handles his wins, but how he handles his failures. And so I give a lot of credit to the CEO of Boeing, CEO Dennis Muilenburg. He dealing with the aftermath of not one, but two fatal Boeing plane crashes that happen within a span of six months.
In March, an Ethiopian Airlines crashed killing 149 passengers and eight crew members on board shortly after takeoff. The incident was the second deadly crash of the new Boeing planes in less than five months. A Lion Air Boeing 737 MAX 8 plunged into the Java Sea shortly after taking off from Jakarta in October, killing all 189 people on board.
The culprit, Maneuvering Characteristics Augmentation System (MCAS), suspected of reacting to errant sensor data, the solution, a software update. Today, all 737MAX 8 planes around the world remain grounded.
The CEO thinks by the fourth quarter Boeing will have a software fix and the 737MAX 8 planes will be in service again. There’s only one issue, while actually two. Boeing is running out of time in maintaining investor confidence and they are running out of 737MAX8 storage room. To maintain investor confidence, Boeing decided to cut the production rate from 52 to 42 737MAX8s. But one solution created another problem. As planes are being built, there is no place to store them.
And now Boeing has been forced to resort to some creative storage places, like the employee parking lot.
Although the CEO remains confident, the Smart Money begs to differ. Yesterday I noticed some bearish unusual option activity where the Smart Money bought almost 7500 of the October put options with a strike price at $275.
This means the Smart Money thinks Boeing has more 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.
The CBOE Volatility Index, VIX aka the stock market fear gauge, is a popular measure of the stock market’s expectation of volatility implied.
Devesh Shah, an applied mathematician and hedge fund manager who formerly worked for Goldman Sachs, was one of the creators of the CBOE Volatility Index
The VIX is quoted in percentage points and is the expected annualized change in the S&P 500 index over the following 30 days, with a 68% probability. VIX values greater than 30 represent investor fear or uncertainty, while values below 20 represent complacent in the Markets.
Just in the past week, we have seen Fed Powell cut US interest rates in attempt to keep the party going, President Trump issue more tariffs on Chinese goods, 900 DOW stock plunge and what appears to be the start of a currency war.
Experts say there could be lots more bad news to come for stocks this month beyond Monday’s big selloff. That’s because August is typically the year’s weakest month for U.S. equities.
Stock Trader’s Almanac Editor Jeffrey Hirsh blames the month’s historically weak performance woes on summer vacations that take investors’ eyes off of the market. “Everyone is in the Hamptons, out playing golf or in the backyard with the kids,” he said. “So, you get a vacuum of lower volumes, and the path of least resistance is down.”
LPL Financial found that while the S&P 500 hasn’t fallen every August, in the years that it’s done so since 1990, losses have averaged 4.6% — the worst showing for any month during that period.
So any one long the Equity Markets or who have family members with IRAs and/or 401ks, buy some protection and hedge your hard earn dollars. One way to hedge your portfolio is to buy VIX call options if you think volatility in the Markets are going to increase over the next 3-6 months.
And the newest alternative at our disposal as a hedge, is to buy BITCOIN.
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.
In Elliott Wave terms, Prometeus began a wave one advance on July 16. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 22, and the red wave two (blue sub-waves a-b-c) correction ended on July 29. If this wave count is correct, Prometeus should be heading next towards the July 22 peak in the red wave three.
Prometeus is a Blockchain & AI enhanced ecosystem for the people owned data markets. BlockchainBrad interviewed one of the team members back in June this year.
The United States Federal Reserve Board is planning to release a real-time payments and settlements service in order to boost the payments infrastructure in the country.
A press release published on Aug. 5 reads that the Board of Governors of the Federal Reserve System has requested that Federal Reserve Banks develop a new interbank real-time settlement service to support faster payments in the U.S. The payment system is called FedNow and will purportedly launch in 2023 or 2024.
By launching FedNow, the Fed aims to modernize the country’s payment system with a real-time service that can transfer funds around the clock and on weekends and weekdays. The service will purportedly be available to both businesses and the general public.
Litecoin (LTC), currently the fourth-largest cryptocurrency by market capitalization, has just reduced its block reward for miners by half.
The litecoin blockchain reached the trigger block height of 1,680,000 at 10:16 UTC on Monday, according to the litecoin explorer from mining pool operator BTC.com.
The event marks a major threshold for miners, as the litecoin network is designed to reduce its mining rewards by half every 840,000 blocks (roughly every four years).
For this “halving,” the mining reward for every block has been reduced from the previous 25 LTC to 12.5 LTC
Bitcoin privacy wallet Samourai announced last Thursday that its primary competitor, Wasabi Wallet, is the target of an ongoing network attack.
The blog post is the latest in a string of allegations Samourai has leveled against Wasabi since mid-July. The attack, according to Samourai Wallet, resembles a Sybil attack, where a small number of users falsifies new identities and pretends to be much larger in number. This would mean that the anonymity set, or crowd, in which a user can hide their bitcoin transactions is not actually as large as Wasabi suggests.
“As the Wasabi team has described it, the goal of the Wasabi mixing technique, is to hide your [unspent transaction outputs] in a ‘sufficiently’ large crowd (peers),” Samourai wrote in its blog post. “The current target Anonymity Set in Wasabi mixing is 100 peers.”
Here is a quick post to tell you that I am doubling up on STEEM. One of the reasons is HF21 (find all the info from @steemitblog‘s post here) but this is neither the only one or the most important.
I think HF21 has its flows, yes it redistributes more to SP holder, but through this it will bring more investors, therefore more Buying pressure and a better STEEM Price I Believe.
More curation rewards also means more attention spent by SP Holder to curate content of quality. This would be beneficial to the entire STEEM Community.
In the end, what is the point to have 75% of your posts STEEM rewards / SBD if they are valued at a few cents, wouldn’t it be better to have 50% of a post valued a few $$$?
UN: Hacked crypto funds weapons of mass destruction
In a confidential report acquired by mainstream media outlets including Reuters on Aug. 5, the U.N. Security Council North Korea sanctions committee said that hackers formed an essential part of government funding.
“Democratic People’s Republic of Korea cyber actors, many operating under the direction of the Reconnaissance General Bureau, raise money for its WMD (weapons of mass destruction) programs, with total proceeds to date estimated at up to two billion US dollars,” Reuters quoted the report as stating.
“Join members of the SDF partnerships team tomorrow, Tuesday, August 6 for a free online workshop for Stellar developers.”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yersterday :
Here is the current chart :
So after the confirmation of the break yesterday, the STEEM is now waiting just under the line which is now a resistance line. It is not a bad news and we could have a big drop due to the break but I think that the nice UP of the BTC is helping us to don’t drop. Let’s see what will happen soon. The BTC cound correct quiet soon and it could be the excuse for the STEEM to continue its drop.
The foreign exchange market is where currencies are traded. When investors trade foreign exchange (forex or FX for short) they’re buying and selling currencies over the foreign exchange market.
The forex market is the largest and most traded financial market in the world. The forex market has grown to a daily trade volume of over $5 trillion a day which is over 200 times bigger than the New York Stock Exchange.
I try to stick to the major currencies and the minor currencies. The majors are the currencies of the major global economies – the US, Japan, UK, Euro Zone, Canada, Australia, Switzerland and New Zealand and stay away from the exotic currencies because they are a lot less liquid and prone to “slippage” and it also means they have wider spreads than the majors and the crosses. However, I at least pay attention to them…at least from a distance.
The Thailand currency is call the Baht. And as strong as the US dollar has been against all the major currencies this year, I was shock to read that the Baht has been outperforming the US dollar this year (+5%) and year over year (+8).
But this isn’t necessary good for the Thailand as their exports have become more expensive and so will ultimately hurt their economy. This is why Trump has been fighting with China for the last 1.5 years. Our trade balance with China is so lopsided as a result of China continuing to depreciate their currency whenever it suits their best interests.
Anyway, back to the Baht, is there any hope for the country of Thailand in regards to a cheaper Baht, lets go to the charts to find out?
Monthly Chart (Curve Time Frame) – monthly supply is at 35.750 and monthly demand is at 29.000.
Weekly Chart (Trend Time Frame) – the trend is down.
Daily Chart (Entry Time Frame) – the chart suggests to short price on a pull back to the daily supply at 31.350 with a target just above the top the of the monthly zone.
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.
… BITCOIN is now testing the Upper Resistance line within the Bullish Flag.
And, as I wrote in this post a couple of days ago, there are two options, both of them positive:
OPTION 1:
Correction is done and we are in wave three of the continuation of the Uptrend.
OPTION 2:
Still one retest of the lower ground of the Bullish Flag would be expected on (e) around 8250 USD in order to end the II wave in violet, then, strong rebound upwards.
24 Hours Volume seems to support the breakage of the upper resistance and also the RSI on the Daily still show a healthy status since it is moving within the limits.
Trend is our friend so, wait to see next move and decide wisely.
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Anyone paying attention to crypto knows that BTC has been soaring against alt coins for most of the year. Many alts are near their yearly or all time lows versus BTC.
So when is the right time to get into alts?
LTC vs. BTC analysis
Looking at the daily chart of LTC vs BTC you can see price is currently testing the most recent bottom. Obviously if price holds here then we have a double bottom in that we may be able to trad off of. However, the ultimate lows are still a but further away at .007.
From a risk-reward perspective the trade really isn’t all that bad right here considering price was at .017 just a couple months ago.
Even if price went to the lows to stop you out, it would be only a .0015 loss compared to the possible upside of .009
That’s a 6 to 1 risk-reward ratio!!!
If you have ever read the book Money: Master the Game from Tony Robbins there was one of many themes found when he interviewed top money managers.
They looked for investments that offered 5 to 1 risk-reward scenarios and mainly stuck to that rule.
As for LTC against BTC it could certainly continue lower, especially considering BTC has its halving next year and LTC just completed its.
I’m just saying, from a pure trade perspective there is definitely solid arguments for getting long.
Ripple keeps scoring good points both in the media and in the fan-base with XRP, a leading cryptocurrency in the fintech payments industry.
Whether Ripple is a decentralized or centralized blockchain, who cares as long as they are adding value. Regardless, Ripple and the token, XRP will also have a fanbase that supports their mission. And it’s not just their fanbase that is supporting the token.
Back in January of 2018, Ripple partnered with MoneyGram, one of the world’s largest money transfer companies to pilot XRP in their payment flows. In July, Ripple made some noise by acquiring a stake in MoneyGram.
Well, it appears the pilot went very well because MoneyGram is going all in and recently announced that they are adopting Ripple’s xRapid payment, using XRP as the to fund transfers.
However, the announcement was nothing special as it didn’t move the needle in terms of XRP’s price and price has been sitting between daily supply and demand for quite some time.
Since mid-July, price has been coiling up and is about to break out. A break out to the downside should bring in the buyers around $0.25 and a break out to the upside will be met with sellers at $0.40.
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.
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:
In Elliott Wave terms, Metahash began a wave one advance on July 17. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 21, and the red wave two (blue sub-waves a-b-c) correction ended on August 4. If this wave count is correct, Metahash should be heading next towards the July 21 peak in the red wave three.
MetaHash is a next-generation network based on the Blockchain 4.0 technology for sharing digital assets and a platform for creating and managing decentralized apps and services in real-time. You can watch their latest presentation below.
