Not the zit cream from our youth, but oil... black gold, not black heads. Energy starved world in the future, I hope you're prepared to pay the heating bill on your 4,000 sq ft McMansion.
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ETF Trading Portfolio Update -- July 11, 2014
No changes this week. Last week I feared the bonds might reverse, but they snapped right back (see chart below).
Pity the whipsawed bond players.
2.5% on the Ten Year is the *line*
Trading idea for Fri. Jul. 11, 2014 | Citrix Systems (CTXS)
Any Form of Racing Other Than on Foot
Exclusions
不保事項
(For Accidental Death & Disablement Benefit and Total and Permanent Disability Benefit)
(適用於意外死亡及傷殘福利和完全及永久傷殘福利)
The insurance under this benefit does not cover injury caused or aggravated directly or indirectly, in whole or in part, by:
因以下情況直接或間接引致之傷亡，將不會獲得賠償：
1. Active, passive participation in war, declared or undeclared, civil war, revolution, riot, civil commotion, strike, insurrection or criminal activities;
直接或間接參與戰爭(不論有否宣告)、內戰、暴亂、罷工或犯罪活動；
2. An act or attempted act of self-injury or suicide whether mentally sane or insane or whilst under the influence of alcohol or drugs other than those prescribed by a registered, qualified medical practitioner;
自殺或自我毀傷(不論神智是否清 醒)，或在酒精或未經註冊醫生處方之藥物影響下所自致之傷害；
3. Engaging or taking part in professional sports, including martial arts, scuba diving, mountaineering or rock climbing (necessitating the use of ropes or guides), aviation of any kind other than as a passenger on a regularly scheduled passenger flight on a commercial aircraft or any form of racing other than on foot.
參與專業性活動，包括武術潛水、攀山或攀石(使用繩索或滑輪)、非以繳費乘客身份乘坐由持牌商業航空公司所營運之航機、賽馬或賽車。
NQ Mobile Next Stop in Lows 3s
Voodoo from that green circled spot puts this in the low 3s, say, $3.15 a share, next stop. You'd have to go back to 2011 to find someone whose cost basis is lower than the current price ... basically every shareholder here is underwater, many disastrously so ... this means there's no "support."
Trading idea for Thu. Jul. 10, 2014 | Quanta Svcs (PWR)
You may remember PWR from earlier this year ... still think it should go to 32.50.
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Money Market Fund Growth in China
A chart from HSBC, but I don't know how accurate it is ... Yu'e Bao has over 500 billion in assets now from zero last June ... that would take the chart from 400 to 900 ... I'm not sure where the other 500-600 billion is coming from since Yu'e Bao's competitors are relatively small.
Trading idea for Wed. Jul. 9, 2014 | Ensco (ESV)
Hammer is interesting, looks like a long, but will need broad market, or at least energies, at its back.
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Trading idea for Tue. Jul. 8, 2014 | NetApp (NTAP)
Sorry for the lack of ideas in recent days, but I haven't seen much of interest as I scroll through the charts. This one could go down though.
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Moving to T+1 Settlement
From DBS Vickers:
Increasing AUM size is putting pressure on operation costs and redemptions as money market funds usually have to set aside 5-10% of assets as a liquidity reserve to prepare for redemptions. Looking at Yu'e Bao’s better liquidity due to support from Alipay, we assume a 5% reserve ratio to arrive at a liquidity reserve of Rmb25bn while daily average idle funding parked at Alipay is about Rmb30- 40bn. Yu'e Bao may hit the assets under management limit of Rmb1trn in the near term based on our estimates. In view of rising liquidity risks, Yu'e Bao announced in April that it will delay withdrawals of >Rmb50,000 to T+1 settlement if made before 5pm or T+2 settlement if made after 5pm. Other online money market funds such as Tencent’s Li Cai Tong or Baidu’s Baizhuan are also adopting T+1 settlements now.