Monday , 17 June 2019

Monthly Archives: January 2019

After Worst December In A Century, Stocks Soar To Best January In 32 Years

The Fed capitulation appears to have been seen early by gold and the market is now implying a 13.5bps rate-cut in 2019… as stocks soar… After the worst December in 100 years, the S&P just experienced its best January since 1987…   Is this really what you wanted Mr.Powell? This is how it ends…   Chinese stocks were very mixed ... Read More »

Chinese Company That Paid Debt In Ham Is Running Out Of Pigs

Forget PIK: China’s financial innovation has taken the concept of pay-in-kind bonds to a whole new level: PIG. Regular readers of Zero Hedge are familiar with money-for-oil loans. But, as we reported last November, one liquidity-challenged pork producer implemented an absurd twist on that concept that has helped to expose the financial dysfunction at many small- and medium-sized Chinese companies. ... Read More »

Didn’t buy a smartphone in 2018? First full-year decline shows you weren’t alone

Think Apple’s lower-than-expected iPhone revenue was worrisome? Multiple market research reports assert that global smartphone shipments had a full-year decline for the first time in 2018. Q4 2018 was the fifth straight quarter of declining smartphone shipments, rising to a 7% reduction in the latest quarter, according to Counterpoint Research’s report. It tagged the year-long decline in 2018 at 4%, dropping ... Read More »

New ‘collection’ data dump contains 2.2bn usernames and passwords

Earlier this month, Have I Been Pwned’s Troy Hunt brought attention to the largest ever online data dump containing 12,000 separate files and over 87GB of data containing 773m unique email addresses and 22m unique passwords.Hunt referred to the wealth of personal data he found on MEGA as Collection #1 and now Collection #2-5 has appeared online containing 2.2bn unique ... Read More »

Net neutrality battle gets a new day in court tomorrow

More than a year after net neutrality was essentially abolished by a divided Federal Communications Commission, a major legal challenge supported by dozens of companies and advocates has its day in court tomorrow. Mozilla v. FCC argues that the agency’s decision was not just dead wrong, but achieved illegally. “We’re not just going into court to argue that the FCC ... Read More »

Congress needs your input (but don’t call it crowdsourcing)

Lorelei Kelly Contributor Lorelei Kelly leads the Resilient Democracy Coalition, a group working to make sure Congress succeeds in the Information Age. More posts by this contributor Our ‘modern’ Congress doesn’t understand 21st century technology The banana republic of big data Like many modern digital innovations, “crowdsourcing” is a concept borrowed from the commercial tech industry. It is a method ... Read More »

Facebook just removed a new wave of suspicious activity linked to Iran

Facebook just announced its latest round of “coordinated inauthentic behavior,” this time out of Iran. The company took down 262 Pages, 356 accounts, three Facebook groups and 162 Instagram accounts that exhibited “malicious-looking indicators” and patterns that identify it as potentially state-sponsored or otherwise deceptive and coordinated activity. As Facebook Head of Cybersecurity Policy Nathaniel Gleicher noted in a press ... Read More »

Venezuela Central Bank Begins Shipping 18 Tons Of Gold To UAE

Venezuela has sold and shipped three tons of central bank gold to the United Arab Emirates (UAE) on January 26 and is preparing to ship 15 more tons, according to Reuters. At today’s spot price of $1,320 per ounce, the sale will total roughly $760 million USD.  Reuters reports, citing sources, that a three ton shipment of Venezuela’s central bank gold left for ... Read More »

Powell’s “Caving To The Market” Means “The Practice Of Hedging Has Been Dealt A Body Blow”

Bonds up, stocks up, yield curve up, gold up, oil up, dollar down… what else would you expect after The Fed dropped the biggest hint that the tightening cycle is over… Remember, despite all the bullshit that this is a “pause”, as Raoul Pal noted: ” The Fed have never, ever “paused” a full hiking cycle. The always end up ... Read More »

Negative Gamma And The Demise Of Optionsellers.com

Authored by Erik Lytikainen via RealInvestmentAdvice.com, Brett Freeze, one of my financial market mentors, has several rules that summarize his core trading beliefs.  His first rule is “never, ever be short gamma.” More simply, the rule could read “never sell uncovered options.”  Anyone who has received a margin call on their uncovered option positions understands intimately why this is a prudent rule.  ... Read More »