Forbes - Week Ahead: Twitter IPO And 60 Trillion Reasons Central Banks Goose Markets
Twitter’s IPO will take the headlines this coming week, but there are 60 trillion reasons why stock market investors are more interested in the words and actions of the world’s central bankers as we move in to the last two months of 2013.
Good morning 2012 Forbes – #106 Steven Cohen – $8.8 Billion
The old guard wasn’t crazy about me, I used to hear it all the time… Most of the old-school had no belief in anything that wasn’t based on fundamental analysis… We were trading more than investing, and people frowned on it, they looked at it and didn’t want to partake. Finally, they said, ‘Shoot. He’s making money.’ And they started copying me. - Steven Cohen
The price for D1 timeframe is located inside Ichimoku cloud which is indicating ranging market condition. But Chinkou Span line (the closing price plotted 26 days behind) of Ichimoku indicator is crossing historical price from below to above on open...
ollar Index: The dollar index had a very strong weekly close after breaking support at line a, the previous week. The 20-week EMA is at $81.27. The OBV has turned up from the longer-term uptrend, line c. The OBV needs to overcome its WMA and the downtrend, line b, to turn positive.
Crude Oil Crude oil was hit hard last week as it closed down well over $3 per barrel. Prices are now in a solid area of support but there are no signs yet of a bottom.
Precious Metals The Spyder Gold Trust (GLD) lost almost $4 per share last week as it tried to close above its flat EMA before turning lower. The technical outlook has turned more negative as the weekly chart suggests that a continuation pattern, lines d and e, is forming.
A break of the support at line e will signal a move to new lows. The OBV also shows a negative formation as it has formed lower highs, line f. The OBV may break support at line g before prices violate support.
The Week Ahead Though it has been a great year for stocks, I do think further gains are likely before the end of 2013. The sharp rise in the major averages is keeping many on the sidelines but there are quite a few stocks that appear to be bottoming after testing good support.
Therefore, it is clearly a stock picker’s market, and I would look for stocks to buy, not averages. Some of the sector ETFs do look attractive, and I will continue to make recommendations where the risk can be well controlled.
I am still looking to get back into the homebuilders, but it will take some more weakness to get them down to attractive levels. This is also true of the department store stocks, which I covered last week. The emerging markets should be a good play as I have several of the country ETFs on my radar.
For those new to stocks, I hope you implemented the dollar-cost-averaging strategy that I discussed in early August’s column It's Never Too Late to Build a Portfolio.
I would continue implementing the dollar-cost-averaging strategy in the Vanguard FTSE Emerging Markets ETF (VWO), and I focused on the emerging markets last week.
Be sure to have your plan in place, which will help you avoid reacting emotionally to the market actio
Bitcoin Singapore Conference: Charlie Shrem to be the Principal Speaker
Charles ‘Charlie’ Shrem IV, the 23 year old American businessman and entrepreneur who co-founded the Bitcoin startup company BitInstant and currently working as Vice Chairman of the Bitcoin Foundation, will be the lead speaker in the Bitcoin Singapore Conference which is going to be held on November 15th at Fullerton Hotel.
Good morning Forbes 2012 #88 – Ray Dalio – 10 Billion
I learned to be especially wary about data mining – to not go looking for what would have worked in the past, which will lead me to have an incorrect perspective. Having a sound fundamental basis for making a trade, and an excellent perspective concerning what to expect from that trade, are the building blocks that have to be combined into a strategy. - Ray Dalio
Forbes : Nasdaq-100 The PowerShares QQQ Trust (QQQ) made new highs last week at $83.49 and has since stayed in a narrow range. The daily starc+ band is at $84.54 with the quarterly R2 at $85.29.
There is further support now at $81.44 (line a) and the still rising 20-day EMA. The September high at $79.68 and the $80 level are more important support.
The OBV did make further new highs last week, which is a positive sign. It is now back to initial support, line b, with further at its WMA.
The Nasdaq 100 A/D line, as suggested last time, was able to breakout above the key resistance at line c and confirms the price action. The A/D line has dropped below its WMA, which could be a sign that the correction is close to over.
-NZDUSD followed through on last week’s outside week reversal. Bigger picture, a triangle may be in the works from the 2011 high. See the above chart in the AUDUSD to understand that the eventual break of a triangle doesn’t have to be in the direction of the previous trend (despite the contention of many…the same goes for the USDJPY by the way…the eventual break could go either way). -Possible support is seen from former resistance between .8105 and .8162. There is an uncovered close at .8133 (9/13).
Trading Strategy: Daily Technicals is short from .8285 with a breakeven stop. Exceeding .8315 could offer an entry opportunity in the .8350-.8430 region.
Forbes : S&P 500 The Spyder Trust (SPY) made a new high at $177.51 on October 30 but gave up some of its gains by the close. So far, the pullback has been mild with next support at $174 with the 20-day EMA at $173.67. This also corresponds to the September high.
For November, the monthly pivot is at $172.61 with stronger support at the $170 area. The quarterly pivot is at $167.72 and a weekly close below this level would be negative.
The daily on-balance volume (OBV) did move above the September highs, line b, on the recent rally but not by much. It is still holding above its rising WMA.
The daily S&P 500 A/D line also confirmed the price action by making new highs (line d) and is close to testing its rising WMA. It is well above more important support.
A close above the $177 level would be a short-term positive sign with the daily starc+ band at $179.05 and the weekly at $179.12.
-AUDUSD followed through on last week’s key reversal. -The market broke from a symmetrical triangle the week that ended 5/17/2013. The recent top is just pips from that close level (with an outside day reversal on 10/23) and right at channel resistance. Trading Strategy: I screwed this one up by exiting a short on Thursday. A short bias is warranted against .9525 towards the October low. Exceeding that level could offer an entry opportunity in the .9570-.9600 region. source - dailyfx.com
-GBPUSD weakness below 1.5893 would confirm a double top. The measured objective would be 1.5531 (width of range subtracted from 1.5893). 1.5531 is also the exact midpoint (50% retracement) of the rally from the July low. Be aware of the June high at 1.5750 as possible support. There is also an uncovered close at 1.5876 (9/13) -1.5950/70 is viewed as near term resistance.
Trading Strategy: Daily Technicals have been short since 10/21. The first target was reached at 1.5960. The stop on the rest is trailed to 1.6060 (above first day of month high) with a 1.5540 limit.
The EURUSD registered its largest one week decline (open to close) since the week that ended 7/6/2012. October is no stranger to important EURUSD market turns. The all-time EURUSD low occurred on 10/26/2000 and the high last month was on the 25th. Other important Octobers include the 1998 high (rates were being set), 2008 (the low was on the 28th) and 2011 (the high was on the 27th). -Generally speaking, lower tops from the 2008 high and lows in the same area form a possible descending triangle (typically bearish). -The failed break above the February high is a bull trap. We’ve seen this before. In fact, such trade has become standard procedure in this market since 2009. The 2009 high occurred on November 4th. -Near term supports for a bounce are the June high at 1.3415 and the August high at 1.3451. Watch specifically for a EURUSD print below the October low of 1.3472 WITHOUT a USDCHF print above its October high of .9177.
Trading Strategy: Order to short at 1.3565, stop 1.3610 (above the first day of the month high). Target half at 1.3300 (just above midpoint of year’s range). There is an uncovered close at 1.3296 (9/13).
Good morning 2012 Forbes – #82 James Simons – 11.0 Billion
We are a research organization… We hire people to make mathematical models of the markets in which we invest… We look for people capable of doing good science, on the research side, or they are excellent computer scientists in architecting good programs. - James Simons
Guys, our moderators are not most powerful people. The most powerful people are the following :
Forbes : The World's Most Powerful People 2013
Who’s more powerful: the autocratic leader of a former superpower or the handcuffed commander in chief of the most dominant country in the world? This year the votes for the World’s Most Powerful went to Russian President Vladimir Putin. He climbs one spot ahead of U.S. President Barack Obama, who held the title in 2012.
Putin has solidified his control over Russia while Obama’s lame duck period has seemingly set in earlier than usual for a two-term president — latest example: the government shutdown mess. Anyone watching this year’s chess match over Syria and NSA leaks has a clear idea of the shifting individual power dynamics.
The Most Powerful People in the World list is an annual snapshot of the heads of state, CEOs and financiers, philanthropists and NGO chiefs, billionaires, and entrepreneurs who truly rule the world. It represents the collective wisdom of top FORBES editors, who consider hundreds of nominees before ranking the planet’s top 72 power-brokers – one for every 100 million people on Earth — based on their scope of influence and their financial resources relative to their peers. (See full methodology here).
This year’s list features 17 heads of state who run nations with a combined GDP of some $48 trillion — including the three most powerful people, Putin, Obama and Xi Jinping, the general secretary of the Communist Party of China. The 27 CEOs and chairs control over $3 trillion in annual revenues, and 12 are entrepreneurs, including new billionaires on the list, Nigeria’s Aliko Dangote (No. 64), founder of Dangote Group, and Oracle’s Larry Ellison (No. 58). Speaking of, this year’s class has 28 billionaires valued in excess of $564 billion.
Here, a quick peek at the Most Powerful People in the World 2013:
Newcomers: Among the 13 newcomers are Pope Francis (No. 4), Samsung Chairman Lee Kun-Hee (No. 41), Volkswagen’s Martin Winterkorn (No. 49), South Korean President Park Geun-hye (No. 52), IBM CEO Virginia Rometty (No. 56), and Janet Yellen (No. 72), nominated by President Obama as the next leader of the U.S. Federal Reserve. Rosneft CEO and Putin confidant Igor Sechin (No. 60) and Jill Abramson (No. 68), the executive editor of the New York Times, make a return appearance after dropping of the list in years past.
He’s Not No. 1: This is the first year that Putin carries the crown. Obama has been on the top of the list for every year with the exception of 2010, when Hu Jintao, the former political and military leader of China, was No. 1.
Women Moving Up In Numbers: This year there are nine women on the list, representing 12% of the world’s most powerful — in stark contrast to being 50% of the world’s population. Both 2011 and 2012 featured six women leaders, and the inaugural list from 2009 included only 3 — or just 4.4%. Recently elected Park of South Korea joins the other female heads of state German Chancellor Angela Merkel No.5), Brazil’s Dilma Rousseff (No. 20)and de facto head of India Sonia Gandhi (No. 21). Two of the world’s most important NGO’s are run by women: Christine Lagarde (No. 35) leads the IMF and Margaret Chan (No. 59) steers the World Health Organization.
Billionaires: Worth a cumulative $564 billion. Sure they’re rich but many of these billionaires deserve special attention for their philanthropic work, including Warren Buffett (No. 13), Michael Bloomberg (No. 29), Li Ka-shing (No. 30), Charles and David Koch (No. 31), and Mohammed Ibrahim (No. 71).
Entrepreneurs Represent: There are 12 in total. As expected, many are headquartered on the West Coast: Google’s Larry Page and Sergey Brin (No. 17), Mark Zuckerberg (No. 24), Elon Musk (No. 47), Ellison and Reid Hoffman (No. 65). Global entrepreneurial spirit spans from Japan’s Masayoshi Son (No. 45) and China’s Robin Li (No. 61) to Africa’s Dangote and Ibrahim.
Year-over-year growth: The FORBES Most Powerful started in 2009, seeking to answer a straight yet complex question: What is the true nature of power and can we really compare and rank heads of state with religious figures and drug traffickers? The premise has always been to select one person for every 100 million on the planet. The first list had 67 slots. This year we are up to 72. At this fifth edition, it’s notable that most of the leaders who made the top 10 on the inaugural list are still on today: Obama, Putin, Bill Gates (No. 6), U.S. Fed Chair Ben Bernanke (No. 7), the King of Saudi Arabia (No. 8), Wal-Mart CEO Michael Duke (No. 10), billionaire Carlos Slim Helu (No. 12), Page and Brin, and Rupert Murdoch (No. 33).
Trading the News: U.S. ISM Manufacturing "A slowdown in the ISM Manufacturing survey may undermine the rebound in the U.S. dollar as it highlights a slowing recovery in the world’s largest economy."...
Coinfloor Ensures Safety of Users’ Funds, Gives it a Top Priority (source - forexminute.com)
British Bitcoin exchange Coinfloor which just started offering its services to customers, is committed to meet government regulations and keep money launderers out; however, that would not mean that it will compromise with the safety of users’ funds. The London-based exchange says that it has made safety of users’ funds a top priority.
Coinfloor believes that Bitcoin security is its major agenda as its entire philosophy revolves around the “no single point of failure” approach. The Bitcoin exchange emphasizes that for any part of its business e.g. server, legal jurisdiction, Bitcoin storage, banking, and databases, all parts are accounted for in regards to business continuity.
The Bitcoin exchange promises that if any operational part fails, it will be able to switch operations onto a new system. It has a two factor authentication process to ensure that customers’ funds are safe and secure. A source from Coinfloor says, “The two factor authentication or 2FA is the security principal that a secure system should utilize “something you know” and “something you have.”
He further adds that whereas the first of these is a password, the second is a physical device which could be either a phone or a Yubikey. Thus, if some customer has a feature phone, the Bitcoin exchange will send an SMS and if customers have an Android or iPhone then it will recommend installing Authy and logging in that way.
Answering the question regarding the protection of privacy by Coinfloor, the official from the Bitcoin exchange says that it keeps and uses information in line with the Data Protection Act of 1998. Additionally, as it is registered with the Information Commissioner’s Office for data protection, it does not send customers’ data to 3rd parties for marketing and advertising purposes.
Low Commission Rates
Coinfloor promises to keep commission rates on its exchange the lowest in the industry. It has a Maker-Taker pricing schedule wherein customers can place orders without any charges and the fee is only charged after the trade is matched. For instance, if customers place an order onto the order book, which another user then matches, and that trade executes, then they are acting as a “Maker” or liquidity provider and will be charged lower fees. Similarly, if customers place an order which matches an existing order, removing liquidity from the system, they will be charged the “Taker” fee.
Myoe Win Aung was born in 1972 in Yangon and studied under several masters, including U Lun Gywe. He started painting in 1989 and graduated from the State School of Fine Arts in 1992. He now works as a full time artist. As with most painters in Myanmar today, religious life and Buddhism influence his artistic expression. He has regular shows in Rangoon and has also exhibited in Singapore (1995, 1997, 1998, 1999).