30/07/2017

The Ugliest Stock Chart of July 2017

by John Galt July 30, 2017 20:10 ET Uglier than Rosie O’Fat’s wedding kiss? Yup: It has not broken any long term support levels yet, but if there are more weeks like the last one on increased volume, then odds are we will break support and indicate that a major divergence has been validated and a key market reversal has begun. The next 90 days (hmmm, where have I heard that) could be super dangerous for equity traders as the proverbial “Black Swan” is now flying all over the algo houses…


The Ultimate Bitcoin Crash Nightmare

by John Galt July 30, 2017 19:00 ET The experts in Bitcoinland have been proclaiming how great this cryptocurrency is and shall be into the future. The “experts” also claimed that it was healthy for the cryptocurrencies that the Securities and Exchange Commission required ICO’s (Initial Coin Offerings) within the United States to be treated somewhat like IPO’s (more at this link).  However, and as usual with new technologies (a la Portfolio Insurance, Derivatives, etc.) the SEC is already 4 years behind a burgeoning multi-billion dollar industry as most nation’s regulators…


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