Shares of Bitcoin miner and cybersecurity developer MGT Capital (MGTI) are higher after the firm announced that it completed its $2.4M financing to expand its Bitcoin mining operations. MCAFEE CONNECTION: In November of 2016, the company announced that John McAfee, the colorful founder of software company McAfee Associates was appointed CEO. McAfee, who had previously served as the company’s executive chairman, said, “The advancements in personal and enterprise technologies have exposed us to a greater number of cybersecurity threats than ever before.” According to a statement from the firm, MGT with the help of McAfee has m...
After two consecutive weeks of losses, U.S. stocks regained momentum this week. However, the bullishness seems to be reversing again after Trump warned of a government shutdown if Congress does not fund his proposed border wall with Mexico, in a speech at a rally in Arizona, last night. Trump has requested Congress to approve $1.6 billion for the border wall between the U.S. and Mexico to boost national security and keep illegal immigrants away. If not passed until Sep 30, Trump could refuse to sign a spending measure without funding for the wall, causing a government shutdown. This has raised chaos in Washington, adding to further pandem...
I recently wrote a blog discussing some of the fallacies and myths surrounding “real” long-term investing. You can read the full article here: (Video length 00:07:26)...
The pound is under pressure, unable to gain ground against the dollar when the greenback is falling. EUR/GBP is getting closer to parity. What’s next? Here is their view, courtesy of eFXnews: BTMU FX Strategy Research sees some similarities between GBP and USD currently with both currencies languishing to a degree on political uncertainties that are outweighing positive signs in terms of the outlook for economic growth. “Round 3 of Brexit negotiations will commence next week and there is increasing signs of a potential clash with the UK showing signs of discomfort over the oft-articulated EU insistence of a strict sequencing of negoti...
I joined CNBC last night to chat about ZTO Express (ZTO) earnings. Emerging markets have had a really rough time over the past few years, due to weak demand from The US and Europe, slower growth in China, weak commodity prices, the threat of populist anti-trade politicians and a host of other issues. But around the beginning of this year, things finally stopped getting worse. Emerging markets in general are showing signs of life, and China in particular is looking good. Chinese GDP growth rates had been trending lower since 2010, but they’ve been rising since late last year. Growth in Chinese parcel volume would have been very strong eve...
New home sales plunged to a seasonally-adjusted annualized rate (SAAR) of 571,000. That was far lower than even the lowest Econoday economist’s estimate of 590,000. The Econoday consensus was 610,000 in a range of 590,000 to 622,000. Nonetheless, Econoday was happy about a number of things. Overstating weakness, July’s headline for new home sales fell to a far lower-than-expected annualized rate of 571,000. This is offset, however, by upward revisions totaling 33,000 in the two prior months which now stand at 630,000 and 618,000. This series, where sample sizes are low, is often volatile month-to-month with the 3-month average, still ov...
News flash: Your worst enemy isn’t inflation, deflation, a market crash, or whatever other scary financial scenarios you can think of. Rather, we ourselves, in many cases become our own worst enemies. And at any given time, our behavior simply amplifies whatever bad things might be happening around us. The field of behavioral finance has given us valuable data on the human psyche. It attempts to explain and understand why investors behave the way they do. “People in standard finance are rational. People in behavioral finance are normal,” explains Meir Statman, PhD and researcher at Santa Clara University. What behavioral biases are me...
Below looks at the Dow Jones Transports ETF (IYT) that remains in a long-term bull market. IYT broke to new all-time highs seven weeks ago at (1). It stayed at new highs for one week, before selling pressure started taking place. The weakness has it breaking below 18-month rising support last week, which does send a caution signal to bulls. The next critical support level for IYT comes into play at the $159 zone. With an “unfilled weekly gap” still in place at the $142 level, what it does at (2), could become very important for the uptrend....
Google (GOOG)(GOOGL) and Walmart (WMT) are coming together to offer customers the ability to purchase Walmart products through a Google Home voice-controlled speaker. Customers will just need to say, “OK, Google,” followed by the product they need to buy. Thereafter, Google will filter and display the products that match the customer’s demand. Image Source: Google (screenshot) How the Google Home voice plans will take on Amazon’s Alexa Starting in September, Walmart customers will be able to link their accounts to Google Express and order through Google Home voice commands or through Google Express. In addition, Google will be ab...