CannTrust Holdings Inc. (CSE: TRST) announced financial and operating results for the six months ending June 30, 2017. All amounts expressed are in Canadian dollars unless otherwise noted. Revenues for the three and six month periods ended June 30, 2017 were $4,541,378 and $7,574,623 respectively compared to $798,403and $1,499,180 in the comparable 2016 periods. Net Income (loss) for the three and six month periods ended June 30, 2017 were $754,864 and ($23,040) respectively compared to ($1,565,661) and ($2,253,574) respectively. 2017 Second Quarter Highlights Record Revenues of $4.5M in Q2 2017, a 469% increase fr...
The 2017 edition of the Jackson Hole symposium is officially over, and while central bankers disappointed markets by not providing any insight into their views on monetary policy (assuming they have any) they instead focused on market stability, and patted themselves on the back for creating a fake “risk-free environment” (which they justify by the record low VIX, even if ignoring the record high cost of crash insurance). In an amusing twist, Janet Yellen’s speech started off by highlighting that one of the key features of the $14 trillion in post-crisis central bank asset purchases, which has resulted in central banks purch...
GOLD: The commodity continues to face upside pressure as it looks to resume its upside pressure presently on hold. On the downside, support comes in at the 1,280.00 level where a break will turn attention to the 1,270.00 level. Further down, a cut through here will open the door for a move lower towards the 1,260.00 level. Below here if seen could trigger further downside pressure targeting the 1,250.00 level. Conversely, resistance resides at the 1,300.00 level where a break will aim at the 1,310.00 level. A turn above there will expose the 1,320.00 level. Further out, resistance stands at the 1,330.00 level. Its weekly RSI is bullish and po...
Ethereum opened today’s Asian market with a bullish sentiment on the news that entrepreneur Mark Cuban’s team has launched an Ethereum-based mercury protocol. Based on the white paper released by the protocol’s developers, Mercury Protocol is designed as an alternative to centralized communication platforms that aims to ensure the privacy of its users. By using the protocol, communication platforms will receive the benefits of decentralized blockchain technology at low cost. ETHJPY Higher Above Ichimoku Cloud The ETH/JPY pair has been trading in a new uptrend above the Ichimoku cloud after its losses in July. The Chiko span has just cr...
Back in April, we showed that according to a Goldman Sachs report, the current run of chronic active manager underperformance began shortly after the launch of QE in 2009. As discussed earlier today by Matt King in his report on “one-way” markets resulting from QE and ETFs, this period has been marked by “stubbornly low volatility and dispersion”, something Goldman first observed four months ago: Which brings us to what we concluded back in April in we showed that according to a Goldman Sachs report, namely that: … while hedge funds, especially established ones with significant AUM, find the current status ...
USDJPY continued its sideways movement in a narrow range between 108.60 and 109.84. Near term support is at 108.60, a breakdown below this level could take price to test 108.13 (Apr 17 low) key support. Resistance is at 109.84, above this level could take price to 110.60 area....
The second quarter earnings reporting season has proved to be a difficult one for stocks. The earnings reports themselves have been strong. According to FactSet, S&P 500 companies have grown their second quarter earnings 10.2% year-over-year. This marks the best earnings growth since the 11.6% rate recorded in the fourth quarter of 2011. Yet, second quarter earnings reports have been unable to lift stock prices. In fact, many companies have been punished after they beat analysts’ EPS forecasts. For example, shares of Halliburton (HAL), Hasbro (HAS), NetApp (NTAP?), and Regeneron Pharmaceuticals (REGN) dropped although the firms bea...
Here are three ideas I’m short (out of my 48 positions) that I found of special interest. First up is Acadia Pharmaceuticals, which is sporting a well-formed diamond pattern. If broken, this becomes a powerful reversal pattern. Next is Advanced Micro Devices. Semiconductors had an incredible run until a few months ago, and they’re all starting to fizzle and pop. AMD seems especially prone to failure to my eyes. Lastly is Buffalo Wild Winds, which has been “Old Faithful” lately. This is a massive topping pattern with plenty of downside potential left....
Talking Points: S&P 500 remains in limbo; highlight event of the week will be NFPs DAX continues to coil, in danger of trading lower soon; Employment, CPI data FTSE 100 light week on the economic calendar, to follow risk trends; keep an eye on 7300 Fundamental Forecast for equity indices: Bearish S&P 500 The big event to end last week was Fed Chairwoman Janet Yellen speaking in Jackson Hole, and in terms of giving rise to market volatility we saw a modest uptick. Next week brings a fair amount of ‘high’ impact data, with Advance Goods Trade Balance on Monday, Consumer Confidence on Tuesday, 2Q GDP on Wednesday, Core PCE on T...