Sunday, December 31, 2017
US oil prices end above $60 for 1st time in 2-1/2 yearsUS oil prices finished above $60 a barrel for the first time since June 2015 after new data suggested American producers were being cautious about ramping up output. The benchmark US contract, West Texas Intermediate for February delivery, climbed 58 cents to finish at $60.42 a barrel.
Saturday, December 30, 2017
What 2018 Has In Store For EthereumIt’s hard to imagine a better year for Ethereum than the one it had in 2017. The open-source blockchain platform saw its value skyrocket to new highs, locked up a majority of initial coin offering projects and started to gain traction in the mainstream.
China: 'This is Not How a U.S. President Should Behave'China has rejected President Donald Trump's accusations that it was illegally supplying oil to North Korea, criticizing Friday the Republican leader's evidence, and his demeanor. Trump launched the allegation Thursday via a tweet in which he claimed China had been " caught RED HANDED" shipping oil into North Korea, a violation of the strict United Nations Security Council sanctions punishing the reclusive, authoritarian state for its unwillingness...
Tuesday, December 26, 2017
It goes without saying the Biotechnology ETF XBI is looking sweetly positioned at the moment. It appears to have finished a decline with a bounce off of the MA(144), had a false breakout and seems a little stuck in a horizontal pattern, but what really turns me on is that EMA's look ideally positioned. I should have mentioned this two trading days previous as that was when the cross happened. If you're unsure buy above $85.25 but one of my longer term indicators is about to cross over which has me quite excited!
'Virtual gold' may glitter, but mining it can be really dirtyAs the poster child for the growing ranks of computer-generated currencies, bitcoin's recent stratospheric price rises have propelled it from the chat forum-hosted depths of nerddom into the global consciousness.
Stock market keeps rising, and Wall Street sees no endJohn Templeton, the late investing guru, once said bull markets in stocks "mature on optimism" before they eventually "die on euphoria." Chalk up 2017 as another year of maturity for the current bull market — on a record scale.
Monday, December 25, 2017
Donald Trump wants credit for economy's strengthThe economy roared to life this year under President Trump, who proudly claimed the success as his own and said the lack of credit given to him was one of the media's biggest slights against him all year.
Could the 'curve' be warning of a US recession?The US economy may be basking in the warm glow of solid growth, but economists are nervously eyeing a trend in the bond market that could spell stormy weather ahead. Even though President Donald Trump is touting unemployment at its lowest level in 17 years and Wall Street soaring to new heights, economists are worried about one indicator that is often a harbinger of recession: the yield curve.
Guatemala to move embassy to Jerusalem: presidentGuatemala is to move its embassy in Israel to Jerusalem, President Jimmy Morales said Sunday, becoming the first leader to back US President Donald Trump's controversial change of stance on the holy city.
Thursday, December 14, 2017
How Bitcoin Has Become A Decentralized Ponzi SchemeThe mainstream media has finally taken notice of the cryptocurrency world. Or perhaps more accurately, the cryptocurrency world has crashed onto the stage and into the spotlight. Some people who believed in the technology and bought into it just a couple of years ago have stood to make huge gains.
Chinese auto giant to end petrol vehicle sales by 2025One of China's largest state-owned automakers has said it will phase out sales of all petrol vehicles by 2025, as Beijing considers taking all fuel-burning cars off the country's roads. Beijing Automotive Group Co (BAIC) chairman Xu Heyi said over the weekend the company will phase out sales of conventional cars in Beijing by 2020 and nationwide by 2025, according to the official Xinhua news agency.
Wednesday, December 13, 2017
South Korea bans its banks from dealing in BitcoinSouth Korea on Wednesday banned its financial institutions from dealing in virtual currencies such as Bitcoin, as the cryptocurrency soars in a bubble fuelled by retail speculators, many of them from the country.
Treasury report says tax-cut plan will more than pay for itself, add $300 billion in revenueThe Treasury Department said Monday that the Senate-approved tax reform plan would pay for itself and more, actually boosting revenue by $300 billion over 10 years. The one-page analysis by Treasury counters a congressional forecast that the tax cuts would add about $1 trillion in deficits over the next decade.
Rand Paul says he won’t vote for spending bill that adds to “already massive $20 trillion debt”Screen Shot 2017-12-12 at 22417 PM Sen. Rand Paul (R-Ky.) said on Tuesday that he won’t vote to add to the “massive” national debt. “I cannot in good conscience vote to add more to the already massive $20 trillion debt.
World Bank to stop financing oil, gas projects from 2019The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tuesday at a climate summit seeking to boost the global economy's shift to clean energy. "The World Bank Group will no longer finance upstream oil and gas, after 2019," it said in a statement in Paris, where world leaders sought to unlock more money for the shift away from Earth-warming fossil fuels.
Monday, December 11, 2017
EU and Japan conclude 'gigantic' free trade dealThe EU and Japan announced on Friday they have concluded negotiations for a giant free trade deal while "fighting the temptation of protectionism," in an apparent message to US President Donald Trump.
Ethereum Could Hit As High As $4,000 In 2018Cats: You either love those harry furballs or you don’t, but the internet is filled with them. Given their ubiquity in the digital space, it was perhaps inevitable that cats cross over into crypto-land and onto the most dominant smart-contract platform today: Ethereum.
Aldi to Give Away All its Unsold Fresh Food to 'Less Fortunate Individuals' on Christmas EveIn celebration of the holiday season, grocery store chain Aldi is being lauded for announcing a plan to donate all unsold fresh food to various nonprofits and charitable organizations on the afternoon before Christmas.
Sunday, December 10, 2017
President Trump Watches Four Hours of TV a DayThe same president who once told reporters he doesn’t have time to watch television and prefers to be “reading documents. A lot” watches at least four hours of TV every day, and sometimes up to eight hours, people close to him told The New York Times.
Arab League condemns US move as 'dangerous and unjust'The head of the Arab League has called US President Donald Trump's decision to recognise Jerusalem as Israel's capital "dangerous and unacceptable" and a "flagrant attack on a political solution" to the Israeli- Palestinian conflict.
Legal Pot: Canada Will Sell Marijuana in Liquor StoresOne province in Canada has decided to sell its marijuana in liquor stores. Nova Scotia, a province on Canada’s eastern shore, announced on Thursday that the Nova Scotia Liquor Corporation, its sole alcohol distributor, would sell the drug in its stores and on its website once Canada legalizes weed in July of next year.
Thursday, December 07, 2017
How gas-for-coal program is carried out makes a differenceThe National Development and Reform Commission, China's top economic planner, has stepped in to coordinate the major natural gas suppliers to stabilize prices and ensure an adequate supply to cope with rising demand in northern China.
Wednesday, December 06, 2017
C919 gains another 55 orders, lifting total orders to 785China's homegrown large passenger plane C919 takes off from Pudong International Airport in Shanghai, East China, Nov 10, 2017. [Photo/Xinhua] The C919, China's first home-developed large passenger plane, gained another 55 orders on Tuesday from ICBC Leasing Co Ltd, China's largest aircraft leasing company by assets, lifting its total orders to 785.
Trump to recognize Jerusalem as Israel's capitalPresident Donald Trump will recognize Jerusalem as Israel's capital Wednesday, upending decades of careful US policy and ignoring dire warnings of a historic misstep that could trigger a surge of violence in the Middle East.
Tuesday, December 05, 2017
Why Bitcoin's Price Will Be Valued At $150,000 By The End Of 2018Within my daily social life, I often ask people if they know about Bitcoin. For the last few years, most of the responses I received were either “No,” or “Isn’t that what people use for illegal activities?”
Nissan to begin field tests for 'robo-taxis' in JapanNissan said Tuesday it would begin field tests for driverless "robot taxis" early next year as its rivals around the world step up self-driving technologies. The car giant and Japanese mobile game company DeNA have jointly developed the new driverless vehicle services, dubbed Easy Ride.
Biotechnology ETF XBI got hamered yesterday after it made a a third attempt at resistance. Clearly this downward channel is here to stay, but what is interesting is how close my MA(144) line is. A move below this and we are into bearish territory where we begin to think about shorting stocks. Interestingly Semiconductors ETF SMH has also had a tough time of late. With December being a slow month for the stockmarket is it time for it to take a breather?
Pakistan, Nepal, Myanmar Cancel Chinese Projects, Jolting Belt and Road PlanIn the short space of just a few weeks, Pakistan, Nepal and Myanmar have confirmed the cancellation three major hydroelectricity projects planned by Chinese companies. The rejection of the three projects, worth nearly $20 billion, comes as a serious jolt to China’s ambitious trade-linking project, the Belt and Road Initiative (BRI).
Monday, December 04, 2017
Sorry I haven't posted in a while but Energy ETF XLE caught my eye recently. Part of the reason for it's meteoric rise would be OPEC announcing that production cuts are staying in place until 2018 sometime. You can see on my chart for a while XLE has been floating above and below the MA(144) line. I spotted back in September an interesting buy signal while it was still below the MA(144) which it promptly smashed through and then retraced to previous highs back in June and August. Since then its been stuck horizontally but now rapidly rising to an overhead resistance of around $70.50. Obviously it's going to make it, probably retrace again back to $69.00 and when the EMA(3) crosses over the EMA(5) I expect it to move past $70.50.