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Clover Health Clover Health has become a meme that has caught the attention of the Reddit army, with stocks surging 140% after reviving the conversation on WallStreetBets on June 6 and 7. The average target price for CLOV shares before bulk purchases was $ 9.30. At the present moment, we have approached the mark from which the rapid growth began. Meanwhile, technically, the picture still looks short. A strong downtrend, we approached the level of 9.30, there is no rebound, there is a protrade. The day closed at the very level. It is likely in the near future, a breakout should be expected and the shares may still decline by 10-12% I trade the breakout of the level with an extra short stop.
NASDAQ:CLOVShort
by monsRUS
Good news from US, dollar & new threatsA lot of macroeconomic statistics was published yesterday, however, it did not lead to significant movements. GDP was revised upwards 2.1% instead of preliminary 1.9%, and durable goods orders exceeded the most optimistic expectations (+ 0.6% m / m instead of -0.9% m / m). Well, the number of people receiving unemployment benefits in the United States so generally reached the lowest level since 1973. However, people were not in a hurry to buy a dollar in the foreign exchange market. Even against the backdrop of news that another progress has been made in the negotiation process between the US and China: Trump said that phase 1 of the trade transaction is close to its completion. The lack of reaction to such a clear fundamental positive, in our opinion, is very symptomatic. Accordingly, we are not going to revise our recommendation to “sell the dollar”. On the contrary, thanks to yesterday's data, sale for the dollar against the euro and the Japanese yen became simply excellent as well as Gold. So yesterday's dollar appreciation is an opportunity, not a threat. We continue to monitor analysts predicting an imminent crisis. We are not even interested in the time frame as much as the reasons. So far, our collection has the collapse of the CLO market, the growth of staff salaries and the fall in corporate profits because of this, huge debts both at the state and corporate levels, the collapse of price bubbles in the stock and bond markets, trade wars, and growing inequality in world, the end of the business cycle. So today in our piggy bank replenishment: a crisis in the banking system of China. According to the Bank of China, more than half of Chinese banks may collapse if the economic situation in the country worsens further. And this is tens of trillions of dollars. For reference: the size of China's banking system is about $ 40 trillion, which is two times bibber than the US banking system. That is the problem. So we find another confirmation of our basic investment strategy: to shorten the US stock market while buying safe-haven assets (gold and Japanese yen). Well, in conclusion, we note that the spring is now compressed to its limit (for example, the volatility of the euro has reached a historic low).
TVC:DXYShort
by Trade24Fx
CLO's quality low, the crisis closeIn one of our previous reviews dedicated to CLO (collateralized loan obligation), we noted a sharp decline in the quality of this instrument. When an investor buys a CLO, he estimates the probability of non-payment for this instrument, based on the rating assigned by the leading credit rating agencies. The higher the rating, the lower the likelihood of challenge and profit, but the lower the return and the other way around. So today, the share of CLOs which rating is close to pre-default rate (about 40%). Note that on the eve of the global financial crisis, the proportion of mortgage loans did not exceed 13%. But this was enough for the entire pyramid of MBS, CDO and CDS to collapse, almost destroying the entire global financial system. There is a question, how it is possible to achieve such an “impressive result” with a relatively low level of problematic mortgage loans? The answer is rating agencies (RA). In pursuit of profitability (the assessment of each financial instrument brings tangible income to RA), S&P, Moody’s and Fitch gave ratings that did not correspond to reality, significantly underestimating the actual size of the problems. The crisis of 2007-2009 showed how rotten the RA system is and how far they are in their assessments from the truth - a significant part of the investment-grade MBS and CDO, in fact, turned out to be “junk” papers. The RAs subsequently admitted that they assigned higher ratings to thousands (!) of mortgage-backed securities. And that was not only one case. Rating agencies before made mistakes systematically. Incidents with Enron, WorldCom, Lehman Brothers and many others show that even companies that are on the verge of bankruptcy might have high ratings. For example, in spring 2008 at the height of the financial crisis, Lehman Brothers shares fell by 50% (!) Fitch and Moody’s assigned the company a rating and category A. Recall, that year in the autumn the company went bankrupt. The underlying reason for that is money. Each rating is an income for a rating agency. But besides this, the rating is a rather powerful tool of influence, and from time to time the RAs use this (lower ratings scare off investors). For example, once, the German company Hannover Re refused to cooperate with Moody’s. In response, RA lowered the ratings of the company and it lost 175 million dollars in a few hours. That is, 40% of problematic CLOs in the market represent only a part of distressed loans. In reality, the situation is much worse. The magnitude of the problem is hundreds of billions of dollars. Given that the global crisis base has already been prepared by the trade war, it is all about the “pull ring” and what will detonate the grenade. The CLO market may well pull that ring and as MBS, CDO and CDS in 2007 could lead to the development of the crisis. The crisis, in turn, will provoke massive sales in the US stock market. Considering that the NASDAQ100 index has grown 8 times over the past 10 years, the shares of the US technology sector seem to be the best candidates for sales.
NASDAQ:NDAQShort
by Trade24Fx
Don't miss the ETC "fork" and claim free CLO (Callisto) tokens.Ethereum Classic (ETC) is getting close to the point where the developers are going to take a 'snapshot' of all the ETC holders at the 5.5 million hash mark. What this means in simple terms is that everyone that holds ETC shares (*STORED IN A COLD WALLET* - explained later) will receive an exact amount of shares in Callisto (CLO), which is a new project being developed by the ETC crowd. A few important things to note here: 1) It is not enough to have ETC bought and stored in an exchange. *Most* exchanges have not announced plans to support CLO yet on their platforms but those exchanges will actually receive the CLO and NOT their users holding the actual ETC at the time, UNLESS you have your ETC crypto in a hard/cold wallet. Example: the 5.5 million hash comes and you bought ETC before the snapshot but kept your shares in an exchange (Kraken, Bitfinex, etc...) YOU WILL NOT GET THE CLO TOKENS CREDITED TO YOU. Unless your specific exchange has specific plans to do so, assume that they will not. Those close CLO shares will be given out to the owners of that exchange. If in doubt, check with your exchange. NOTE: HitBtc just recently announced CLO support (blog.hitbtc.com) 2) Although there are others, cold-wallets like ClassicEtherWallet and ClassicMask are your two safest bets if you're in doubt. They have directly stated support for the ETC to CLO fork and will credit your account accordingly. 3) The value of CLO coins will be decided most likely when most major exchanges start offering support and how the Callisto project manages to do in the future. So with that said, here is my thoughts on the price of ETC. It will likely spike immediately before the 5.5 million hash mark and tumble immediately afterwards. Assume that a lot of people will take advantage of the free CLO offerings and then dump ETC immediately afterwards (at least that's what my plan is). As of 5pm CST, the hash block on ETC currently stands at 5,496,100. If you want to check where the hash blocks currently are: www.etcstats.net. ETC prices are hovering around $28-$30 range (depending on your exchange) which I believe will be at bargain prices before the eventual buy up before the 5.5 mill block is close to being reached. Hey... You can't beat free crypto!
KRAKEN:ETCUSD
by Zulu_Kilo
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