Monday, November 30

Day: October 12, 2020

Ledger wants to help MicroStrategy secure its $400m Bitcoin treasury
Crypto News

Ledger wants to help MicroStrategy secure its $400m Bitcoin treasury

Ledger is mostly known for its consumer-facing hardware wallets, but since last year, a number of enterprises have also begun to use Ledger Vault, according to the company’s vice president of product, Jean-Michel Pailhon. This product is focused on providing custody solutions to enterprise clients.  In fact, the Ledger team is currently trying to sell MicroStrategy on the advantages of its product.MicroStrategy is a business intelligence company that made a splash in August 2020 by converting a large portion of its treasury into Bitcoin (BTC). More recently Square, who just acquired $50 million worth of Bitcoin, developed an in-house open-source SubZero framework to secure its assets.Source: Ledger.Pailhon said that both employ HSMs, or Hardware Security Modules, for the management...
How to Trade IPO Stocks: A Primer For Beginners
Online Trading

How to Trade IPO Stocks: A Primer For Beginners

Hot IPOs are becoming rarer in the late stages of this post-GFC bull market cycle.The primary reason for that is that private market financing allows early-stage firms to remain private longer.This trend is turning around, starting with the IPO of cloud data platform Snowflake (SNOW) in September, with several other hot upcoming IPOs like Asana, Palantir, and Unity Software.As such, we’re likely to see a slew of hot tech IPOs, should the market rally continue.Why IPOs Are DifferentOne of the significant fallacies of typical trading books is assuming that all markets trade similarly; that you could apply the same strategy to any market.One of the ordinary circumstances is to present a technical trading pattern and claim that it’s tradeable on any timeframe, any market.This con...
LVB board to meet on October 15 to consider rights issue
Stock News

LVB board to meet on October 15 to consider rights issue

NEW DELHI: Cash-strapped Lakshmi Vilas Bank (LVB) on Monday said its board will meet later this week to consider issuance of shares on rights basis to existing shareholders. "A meeting of the board will be held Thursday, October 15, 2020 to consider and approve the issue of securities of the bank to existing shareholders of the bank on rights issue," it said in a regulatory filing.As per a resolution passed by its board and shareholders in August and September respectively, the bank has got approval for raising funds by way of equity shares and other instruments through various modes, including further public offer, rights issue or qualified institutions placement for an aggregate amount of up to Rs 1,000 crore.Last week, the lender said it has received a non-binding offer from Aion-...
Risk Management: The Best Defense is a Good Offense
Forex

Risk Management: The Best Defense is a Good Offense

There’s this old saying, often applied to strategic games as well as warfare, that “the best defense is a good offense.” Another variation of this is that “the only good defense is an active defense.” Let’s transform it a bit: the best of “defensive strategies” has an effectively “aggressive (offensive) component.”What we’re trying to say here is not that the two–defense and offense–are linked (which they are), but that one can easily shift to the other when the situation calls for it.As it relates to trading, a “defensive” posture can be tweaked to take on an “aggressive” function. In other words, “risk management” is as much an aggressive concept as it is a defensive strategy. You manage risk to calibrate profit potential, not just to avoid losses. Here’s an example that explores thi...
Daily Gold News: Gold Going Sideways Following Friday’s Rally
Commodities

Daily Gold News: Gold Going Sideways Following Friday’s Rally

The gold futures contract gained 1.64% on Friday, as it broke above $1,900 price level. On Tuesday volatility has increased following a tweet from the U.S. President ending stimulus talks. But overall, the market has extended its consolidation. Recently gold was retracing a rally from around $1,800 to August 7 record high of $2,089.20 in reaction to U.S. dollar advance, among other factors. Then gold has bounced from the support level marked by mid-August local low of around $1,875, as we can see on the daily chart ( the chart includes today’s intraday data ):Gold is 0.5% lower this morning, as it is trading along Friday’s high. What about the other precious metals? Silver rallied 5.16% on Friday and today it is 0.4% lower. Platinum gained 3.51% and today it is 1.0% lower. Pallad...
Forex Today: Dollar still pressured, coronavirus concerns weigh
Forex

Forex Today: Dollar still pressured, coronavirus concerns weigh

Here is what you need to know on Tuesday, October 13:The greenback appreciated in slow motion at the weekly opening but ended a dull Monday down against most major rivals.China set the yuan fixing at 6.7126, weaker than expected, while the PBOC lowered the FX risk reserve ratio to zero. The country “unveiled a new comprehensive reform plan for Shenzhen,” giving local authorities there a “more direct and greater say in business” in areas such as carrying out market-based economic reforms.  Asian and European indexes found mild-support in such headlines.US futures advanced, with the Nasdaq Composite flirting with all-time highs, ignoring the fact that US leaders were once again unable to agree on a coronavirus stimulus package.The number of new coronavirus cases in Europe continues...
Dow surges more than 300 points as Apple shares lead tech higher
Business news

Dow surges more than 300 points as Apple shares lead tech higher

U.S. stocks rose sharply on Monday as tech shares outperformed while investors monitored stimulus negotiations in Washington.The Dow Jones Industrial Average rose 353 points, or 1.2%. The S&P 500 gained 1.9% and the Nasdaq Composite advanced 2.9%.Apple jumped 6% as investors looked ahead to a key event for the company. On Tuesday, Apple is expected to unveil its first 5G iPhone. History shows Apple shares usually outperform the broader market after an iPhone launch.Facebook and Amazon advanced 5.3% and 5.2%, respectively. Netflix gained more than 1% and Alphabet popped 4.1%; Microsoft gained 3.5%.The iShares Russell 1000 Growth ETF (IWF) rallied 2.6% and outperformed its value counterpart, the iShares Russell 1000 Value ETF (IWD). The latter rose just 0.9%.The market is "ex...
The first-ever mining hardware marketplace just launched
Crypto News

The first-ever mining hardware marketplace just launched

Asic Jungle has launched a beta version of what it calls “the first-ever mining hardware marketplace” for cryptocurrency mining hardware. The company's CEO Artem Bespaloff told Cointelegraph that he has created a trusted platform for second-hand mining equipment that operates without any middlemen:"[It's] the first and only online marketplace where buyers can interact directly with sellers through the platform and not have to use any brokerage services or Telegram channels (I call them 'sketchy' Telegram channels) because all sorts of things go on there. And we decided to create this ecosystem where buyers and sellers deal together between themselves."A sample listing. Source: Asic Jungle.The company's solution to these problems is a two-sided marketplace that connects ASIC buyers...
S&P 500 Index opens above 3,500 boosted by tech stocks
Forex

S&P 500 Index opens above 3,500 boosted by tech stocks

Wall Street's main indexes opened higher on Monday. Technology stocks are posting strong gains at the start of the week. S&P 500 Energy Index trades in the negative territory.Major equity indexes started the new week on a firm footing. As of writing, the S&P 500 was up 0.75% on the day at 3,503, the Dow Jones Industrial Average was gaining 0.4% at 28,698 and the Nasdaq Composite was rising 1.55% at 11,905.Among the 11 major S&P 500 sectors, the Communication Services and the Technology Index both rise more than 1% supported by strong gains witnessed in Twitter Inc, Amazon.com Inc and Facebook Inc shares. On the other hand, the Energy Index is down 0.92% pressured by a more-than-3% drop seen in US crude oil prices.There won't be any significant macroeconomic ...
Investment strategy based on reducing risk faces its own challenge
Stock News

Investment strategy based on reducing risk faces its own challenge

NEW YORK/LONDON: A fund trading strategy that tracks hundreds of billions of dollars in assets and often gets blamed for exacerbating market selloffs is facing a challenge from the policy response to the pandemic. But fund managers said they are adapting, and new money is flowing in. Most closely associated with investment funds such as Bridgewater Associates and AQR, the strategy, called risk parity, typically spreads risk over stocks, bonds and other financial assets, as against traditional 60-40 stock and bond portfolios where equities carry more risk. It uses leverage to magnify returns from lower-risk assets such as bonds.But the U.S. Federal Reserve's policy of keeping interest rates near zero in response to the coronavirus crisis has raised questions about the strategy. Bond pri...