In Elliott Wave terms, Promotion Coin began a wave one advance on May 23. The red wave one finished on July 9, and the red wave two correction ended on July 23. The red wave three advance finished on August 2, and the red wave four correction ended on August 6. If this wave count is correct, Promotion Coin should be heading next towards the August 2 peak in the red wave five.
The book, The Millionaire Next Door, published 1996 and having sold more than 3 million books in essence is about living below your means and being financially responsible in order to allow your cash to work for you vs. you working for cash.
If you don’t have one of these type of neighbors to mimic, just follow what the Smart Money on Wall Street is doing.
TIGER 21
Wealthy investors are trimming their stock positions, amid anxiety around a trade war and instability in Washington.
Members of TIGER 21, an investment club for high-net-worth individuals, reduced their stock allocation to 21% from 22% during the second quarter, according to the group’s quarterly report.
TIGER 21, a group of about 700 people with at least $10 million to invest, stands for The Investment Group for Enhanced Results in the 21st Century.
“They are concerned about the fact that the markets were priced to perfection; they thought they reached real highs,” said Michael Sonnenfeldt, founder of TIGER 21.
Warren is the greatest investors of our lifetime. Many don’t know he made the bulk of his money selling insurance. Yes, he owns GEICO and many other insurance companies, but I’m talking about insurance in the form of options, where he collects premium with the right to buy the asset at a later day. For example, during the Great Recession, Buffett loaned Goldman Sachs $5 billion. Not only did Goldman agreed to pay a 10% dividend on preferred shares to Buffett, which cost Goldman about $500 million a year, but when Buffett finally cashed in, in total, Buffett made about $1.75 billion in cash and about $1.35 billion in stock, roughly a 62% return on a five-year investment.
With stocks at record highs, Berkshire Hathaway Inc. sold $1 billion more worth of stocks than it bought last quarter, its biggest net selling since the end of 2017. The result was that the company’s cash hoard — a major focus for investors in recent years — surged to a record $122 billion.
Between July 29th and Aug. 2nd the CEO of Amazon sold 1.5 million shares, while the stock sold off 6% during that same time frame. But Jeff is by no means hurting, he’s still the richest man in the world. Speaking of Amazon, the stock, well it’s sitting between daily supply and demand zones.
Some folks on Wall Street have a $2500 target. What I see is long term momentum decreasing. It most certainly can break out, but it most certainly can break down too. Only time will tell, but in the meantime, I’m following the Smart Money.
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.
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 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:
