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782 daninet 5 hrs 542
https://www.theverge.com/2018/9/12/17849868/eu-internet-copyright-reform-article-11-13-approved
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新興市場貨幣冧棚，內地又每日一招嚇港股，港股不同板塊輪流洗白白，大戶散戶耍手擰頭拒落叠，恒指想彈都難，自巨熊出沒後，連計今日慘跌六日，9月開局至今，全球主要股市中恒指表現最差，共插5.53%，國企指數更重創5.86%。
多得美元強勢，新興市場貨幣近乎全線甩轆，但暫未燒至美股。以上日收市計，納指本月暫跌1.69%，標普五百損傷輕微，只跌0.47%，道指更懶理新興市場滙價頹勢，本月微升0.02%，跑贏環球大部分主要股市。
美國即將踏入中期選舉，一副戰鬥格的美國總統特朗普，除周圍撩各國打貿易戰展現強人本色外，上月中簽7160億(美元‧下同)國防授權法，增加軍費開2.6%，創9年以來最大升幅，即冧爆美國各大軍火商。
美國軍工股最大是洛歇馬丁(Lockheed Martin，上市代號LMT)，去年全球軍火商排行榜中，總銷售額達479億元。2016年三甲不入的雷神(Raytheon，上市代號RTN)，上年發力爬升，最終僅次於洛歇馬丁，登上全球第二大軍火商，去年銷售總額達235億元。
貴為全球最大導彈生產商雷神，市值只有洛歇馬丁六成，但產品相當獨特，代表作包括戰斧巡航導彈、愛國者防空導彈及響尾蛇空對空導彈，其第二季收入達66.25億元，按年增長5.5%，純利升44.7%至8億元，當中導彈系統收入佔比最大，佔集團總收入31%。
雷神現時預測股本回報率(ROE)27%，預測今年市盈率只有18.9倍，與同業平均23倍低，現處200元以下橫行，形態上似儲貨待爆發，現價可考慮吸納，中線望240元，即博升約兩成，失守185元止蝕。
編按:作者尹德政(Ricky)，醉心投資美股近十載，最大滿足感來自尋找抵買有實力的世界行業領袖，每逢周三、五在「信報網站」及「港股360」撰文。
Trefis TeamContributor Great SpeculationsContributor Group Markets
The logo for Netflix Inc. sits on an Apple Inc. iPhone smartphone in this arranged photograph in London, U.K., on Monday, Aug. 20, 2018. Photographer: Jason Alden/Bloomberg Netflix (NASDAQ: NFLX) continues to see strong growth, and now has over 124 million paying subscribers in over 190 countries along with a vast range of TV shows and movies, including original series, documentaries and feature films. In the first half of 2018, the company’s revenues increased 40% year-over-year (y-o-y) to $7.6 billion, largely driven by growth in subscribers across both the U.S. and international streaming markets. The company’s solid international growth has come despite stiff competition from the likes of Amazon and Hulu, as well as local content providers in various markets. This will likely continue going forward, as the company continues to invest in original content.
We have summarized our forecasts for Netflix’s fundamental value based on expected 2018 results in an interactive model. You can modify assumptions such as changes in expected segment revenue or EBITDA margins to see how they impact the company’s value. The image below shows one of the key steps in identifying Netflix’s valuation sensitivity to changes in its segment revenues. We detail how changes in revenue or segment EBITDA margin impacts total EBITDA, which then impacts its enterprise value (assuming a constant EBITDA multiple).
TREFIS
Stock Has Seen A Massive Rally
Netflix saw its stock gain nearly 50% in 2017, and is already up more than 70% over the course of 2018. The company’s stock price has fluctuated between $300 and $418 since April. We have maintained our long-term price estimate for the company at $370. Our price estimate is slightly ahead of the current market price, which is driven by the company’s strong foothold in the streaming business as well as a robust lineup of TV shows and films in 2018.
Although a major chunk of Netflix subscriber comes from the international segment, its contribution margins are substantially lower (15.4%, as of June 2018) compared to margins from its domestic segment (38.7%). The U.S. market for streaming content is getting more saturated due to strong competitive pressure, which is expected to intensify once Disney launches its own direct-to-consumer offering and pulls its content from Netflix in 2019. However, we expect Netflix’s net subscriber additions to gain momentum in 2018, despite the company missing subscriber estimates in its recent Q2 earnings and guiding for a lower net subscriber expectation in Q3. Our assumption is based on the fact that the company is spending a significant portion of its content budget on original shows. The company has a long-term goal of ensuring that nearly 50% of the content streamed on its platform is original. Netflix plans to spend as much as $13 billion on shows and movies in 2018, up from $6 billion earmarked for content in 2017, which should drive subscriber growth but will weigh on margins. We expect Netflix to benefit from healthy subscriber growth, which can leads to improved cash flows and can in turn allow the company to invest further in content.
Our forecasts for the year are summarized in our dashboards for Netflix. If you have a different view, you can modify various inputs to see how updated inputs impact the company’s valuation. You can share the links to scenarios created on our platform.
Like our charts? Explore example interactive dashboards and create your own.
Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand how a company's products, that you…MORE
Salesforce Is an Easy Stock to Like, Here Is How to Play It Marc Benioff is still the visionary behind Salesforce. Long-time favorite Salesforce.com (CRM) reports tonight, and expect a strong report.
The industry is looking for EPS of $0.47 on revenue of $3.23 billion. These numbers would be good enough for year-over-year growth of 42%, and 26%, respectively. You may recall that back on July 11, I raised my target price for CRM from $145 to $152. The last sale that morning was $142.45.
The stock was unfairly punished as trade-related headlines made waves. Twenty days later, on July 31, with the last sale at that point down to $138.03, I again increased my target price from $152 to $160. May the Salesforce Be With You.
I think that Salesforce is an easy name to like. Seems highly valued? Sure, 56 times forward price-to-earnings multiple is expensive. The whole cloud space is expensive, because that is where the growth is in 2018. Margins are rising, cash flows are solid. Debt is manageable. How much of the valuation was priced into having a well known, well liked, obviously competent CEO like Marc Benioff at the helm.
Will Investors Be Ready to Digest All the New Cannabis Stocks? Tilray Feeds Deal-Making Speculation on Analyst Call
Well, we have not lost Benioff. He is still the visionary and the marketing guy. Nearly a month ago, the firm promoted COO Keith Block to the position of co-CEO. Block is going to run operations and execution. Can this work? I think it already might be. I also think that this is an example that maybe a firm such as Tesla (TSLA) should probably follow -- for very different reasons.
Impact of Mulesoft
Back in May, the firm closed on the Mulesoft acquisition. That acquisition is now expected to provide the lion's share of revenue growth for the entire year. What the Mulesoft deal does is provide Salesforce with a high-end technology that facilitates data transfer from a client's on-premise sight to the "cloud."
Over the past two weeks, Action Alerts Plus holding Salesforce has seen upgrades and increased target prices from the likes of Cowen, Morgan Stanley, Credit Suisse, Piper Jaffray, and Barclay's. Those target prices now range from $165 to $178. CRM closed last night at $152.99 after trading as high as $154.88 on Monday morning. Those of us long this name have something significant to protect going into tonight's numbers. Let's take a look.
View Chart » View in New Window » Everything looks stellar, which almost scares me. Relative Strength, Money Flow, the daily MACD. Hot, hot, hot. The name most obviously finds support on selloffs at traditional Fibonacci levels, and just as obviously colors within the lines regarding a year-long Andrews' Pitchfork model that has used the central trend line consistently as a pivot, but more recently as support.
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There's one other important item to see here -- and that's timing. Salesforce holds its big dog and pony show, the annual Dreamforce Convention in San Francisco, in late September, from the 24th through the 28th. My thought is to expect positivity around this name at that time, regardless of what happens tonight.
My Thoughts
I don't like to violate basis, but when a long position runs for a year or more, you end up with a rule that will not allow you to add at any price if you stick to it. If the name takes off tonight, I likely leave my equity position unchanged. On a pullback of any kind, the $144 level looks like a spot to me to maybe add a partial buy. Or maybe.... short a put option.
Price Target: $170 (up from $160). Panic Point: $140 (up from $132). Trade Ideas (minimum lots)
Sell (write) one 144 Sept 28 put option (last: $2.58). Note that there was no volume for this product yesterday, and the bid went out at $1.94, so the valuation is volatile and any participation will impact price discovery.
Buy 100 shares at $144 or better on a weak reaction to earnings (which is possible, given the recent run). If hit on such a bid, my immediate reaction would, in my opinion, be to sell (write) a Sept 28 call option with a strike price of a roughly $8 premium to the equity purchase price. This should, in theory, pay the investor $2 to $2.50. If that premium is not there in the morning, the trade then becomes less worth it, and I figure something else out.
Free White Paper: 7 Things All Investors Must Know in 2018. Start the second half off right with our free white paper on seven key things to watch this year. From how much cash to have on hand to the three reasons this bull market might die, our white paper features key takeaways from an all-star panel that TheStreet and Fisher Investments recently hosted in New York. Click here to register for your free online copy.
207 jhgg 2 hrs 72
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一年容易又iPhone，Apple將於香港時間9月13日凌晨舉行發佈會，預期將會公佈新一代iPhone。出新機除了Apple賺大錢，一眾配件機殼亦準備就緒。手機殼已算日用品，一人都有幾個，淘寶十幾到幾十蚊都買到，但你又能否估到，香港有間手機殼公司一年賣殼逾百萬個，營業額過億，連美斯和高比拜仁都用它的產品？
搶先睇全新GadgetGuy專頁｜fb.com/gadgetguy.appleseed/
Casetify創辦人及行政總裁吳培燊（Wesley）直言，好多人以為它是美國公司，其實公司2011年僅由Wesley和其朋友兩個人創辦，是百分百香港起家。身為果迷的Wesley自從見到Steve Jobs上台示範第一部iPhone開始，已覺得「掂硬」，但用起來總覺得市面上的手機殼款式既沉悶又欠個性，於是想到讓客人用自己IG相片客製機殼的服務。碰巧2010年推出的iPhone 4爆出「天線門」事件，握住機身下側兩邊，接收訊號會轉弱，用機套避免皮膚接觸就能減輕問題。頓時手機殼成為必需品，Wesley也和朋友於翌年正式創業，他也坦言一眾配件廠行家都要多謝「天線門」。
網店賣自訂殼，當時構思已算前衞，不過開張第一日成績是零定單。Wesley開始諗計做市場推廣，發電郵去各大傳媒，包括外國。「我們沒有刻意以外國市場為目標，不過當時自己留意的都是美國潮流，所以在香港以外，也試試找一些外國網站，例如Mashable、TechCrunch、《華爾街日報》等等。」某日，本來無人問津的網站竟然瀏覽量多到逼爆server，原來其中一家外國網站介紹了他們的產品。當時兩位創辦人仍有正職在身，創業約三個月，見到廚神Jamie Oliver在社交平台上載了他們的手機殼，才正式辭職全身投入。事實證明當初Wesley遇到的「手機殼無個性」問題，很多人都遇到，今時今日不時也會見到名人上IG用他們的殼，球王美斯是長期客戶，還有前NBA球星高比拜仁、IG fans過億的Kylie Jenner及國際名模Gigi Hadid等，全部都是自己用自己上載，沒有收廣告費。
與全球設計師合作 客製殼名人buy 創業之路似乎順風順水，但想深一層，手機殼在淘寶一個賣$50，Casetify的產品多數都賣過$300，點鬥？Wesley認為成功的經營模式一定有人模仿有人爭，要留低有兩大重點，一是做到最好，不斷進步；二是思考如何解決問題。「唔係人人都要創業，我覺得係見到有啲問題，現有方法解決唔到，而自己做會更好，你先會創業。」好像Casetify當初要解決的問題是「點解手機殼要咁悶咁醜樣？」，想到的答案是用自己相客製，但發展到近年，大數據分析顯示，很多客人不懂設計，於是團隊就開始想其他方法。
「自己唔識設計，又嫌市面上的手機殼冇個性，點搞?我哋又諗到好多有才華的設計師其實欠缺平台。」目前Casetify可讓世界各地的設計師上載他們的設計，有客人買就會分佣。受歡迎的設計師一個月可以賺到超過十萬港元。「試過有個委內瑞拉的設計師寫信給我們，多謝我們改善了他的生活。」目前Casetify的產品外銷逾180個國家，美國和日本也是主要市場。後輩如果想創業，Wesley都勸大家要諗清楚，不要為創業而創業，真的是想要解決問題、改變現狀才會有心堅持。
記者：司徒港燊 攝影：劉永發、鄧鴻欣
Casetify創辦人及行政總裁吳培燊。(蘋果日報)
除了客製化手機，Casetify近年嘗試推出更多功能性產品，如將推出最薄軍事規格防跌機殼。(蘋果日報)
有過億fans的IG女神Kylie Jenner今年已用過兩款Casetify殼，一款印自己名，一款印女兒Stormi的名字。(蘋果日報)
連球星高比拜仁也是Casetify的客戶。(蘋果日報)
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【機未出殼已到手】新iPhone機殼出齊5.8/6.1/6.5吋 對應三部新機？ 即時果籽 2小時前
A majority of companies say lack of access to software developers is a bigger threat to success than lack of access to capital. Still, companies are misusing their most important resource, with too many developers tied up in projects designed to prop up legacy systems and bad software, at a cost of $300 billion a year — $85 billion just dealing with bad code.
Correctly deployed, the expertise of software developers could add $3 trillion to global GDP over the next decade.
Will Gaybrick, Stripe CFO and a member of the CNBC Global CFO Council
Published 3:12 PM ET Thu, 6 Sept 2018 Updated 3:19 PM ET Thu, 6 Sept 2018
CNBC.com
A full quarter century into the era of the modern consumer internet, the C-suite is still grappling with the fundamental problem dubbed digital transformation. One reason this challenge is so pernicious is that it can't be solved the way most transitions can, with money and management consultants. Instead, it requires the expertise of a new breed of corporate leaders: software developers.
Systems engineer configuring servers in data center.
baranozdemir | Getty Images
Systems engineer configuring servers in data center.
As our global economy increasingly comes to run on technology-enabled rails and every company becomes a tech company, demand for high-quality software engineers is at an all-time high. A recent study from Stripe and Harris Poll found that 61 percent of C-suite executives believe access to developer talent is a threat to the success of their business. Perhaps more surprisingly — as we mark a decade after the financial crisis — this threat was even ranked above capital constraints.
And yet, despite being many corporations' most precious resource, developer talents are all too often squandered. Collectively, companies today lose upward of $300 billion a year paying down "technical debt," as developers pour time into maintaining legacy systems or dealing with the ramifications of bad software.
This is especially worrisome, given the outsized impact developers have on companies' chances of success. Software developers don't have a monopoly on good ideas, but their skill set makes them a uniquely deep source of innovation, productivity and new economic connections. When deployed correctly, developers can be economic multipliers — coefficients that dramatically ratchet up the output of the teams and companies of which they're a part. If developers are your company's most constraining resource, the key question is how to increase their productivity. As a C-suite exec, there are three ways to help increase the multiplying impact that developers can have for your company. 1. Understand your current costs and opportunity costs. For CFOs this means considering your allocation of developer time just as carefully as you would consider your allocation of dollars (if not more so). 2. Outsource. Fully embrace the cloud. Not just for storage and compute but for every business function that's not unique to your business — from messaging, payments and CRM to planning, accounting and inventory management. Put your developers on higher-impact projects. If you're considering buy vs. build, the answer is simple: buy. Unless you're Amazon or Microsoft, you shouldn't be deploying engineers to build data centers. Similarly, your developers should be working on what makes your business unique. 3. Hire leaders with technical backgrounds. If not C-suite, then as top lieutenants. Including software developers directly in strategic business decisions will ensure you have the right product road map, the right team and ultimately the right technology strategy for long-term success — and that you'll avoid the pitfalls of increased technical debt and unnecessarily wasted developer time for years to come. As digital transformation remains top of mind for every company, it's critical to empower developers with the tools, infrastructure and guidance to move more quickly. By increasing the multiplying power of developers — the developer coefficient — you can make better use of the resources you have and ignite steeper business growth. —By Will Gaybrick, Stripe CFO. Gaybrick is a member of the CNBC Global CFO Council by TaboolaMORE FROM CNBC
Private Advisory Group LLC Invests $1.29 Million in Invesco Dynamic Software ETF (NYSEARCA:PSJ) Stock September 4th, 2018 - By Renee Jackson Invesco Dynamic Software ETF logoPrivate Advisory Group LLC purchased a new stake in shares of Invesco Dynamic Software ETF (NYSEARCA:PSJ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,831 shares of the company’s stock, valued at approximately $1,285,000. Private Advisory Group LLC owned approximately 0.57% of Invesco Dynamic Software ETF at the end of the most recent reporting period. A number of other large investors have also recently modified their holdings of the business. Cornerstone Wealth Management LLC bought a new stake in shares of Invesco Dynamic Software ETF during the second quarter valued at approximately $12,152,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Invesco Dynamic Software ETF during the second quarter valued at approximately $15,641,000. Wells Fargo & Company MN raised its position in shares of Invesco Dynamic Software ETF by 17.0% during the second quarter. Wells Fargo & Company MN now owns 151,071 shares of the company’s stock valued at $11,530,000 after buying an additional 21,896 shares during the last quarter. IFG Advisory LLC bought a new stake in shares of Invesco Dynamic Software ETF during the second quarter valued at approximately $164,000. Finally, Royal Bank of Canada raised its position in shares of Invesco Dynamic Software ETF by 177.7% during the first quarter. Royal Bank of Canada now owns 12,349 shares of the company’s stock valued at $857,000 after buying an additional 7,902 shares during the last quarter. Get Invesco Dynamic Software ETF alerts: Shares of Invesco Dynamic Software ETF stock traded up $0.38 on Tuesday, hitting $87.03. 29,302 shares of the company traded hands, compared to its average volume of 21,763. Invesco Dynamic Software ETF has a 52 week low of $59.38 and a 52 week high of $87.09.
Invesco Dynamic Software ETF Profile PowerShares Dynamic Software Portfolio (the Fund) is a non-diversified fund. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Software Intellidex Index (the Index). The Index is designed to provide capital appreciation by evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. Recommended Story: Moving Average – How it Helps Investors in Stock Selection Institutional Ownership by Quarter for Invesco Dynamic Software ETF (NYSEARCA:PSJ)
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A moving average (MA) is an indicator used by investors, primarily those that practice technical analysis, to get a clearer picture of a trend in price movement. The moving average calculates price movement over a given period of time. A moving average provides a way for traders to filter out random price fluctuations that are not consistent with a current trend.
By definition, the moving average is a trailing indicator. This simply means that it relies on data that has already happened. So while it is useful as a predictive indicator, it is not the only tool that traders will rely on for information.
Moving averages can be set for any length of time an investor wants to measure. The longer the time frame, the greater the amount of trailing data, meaning the less sensitive it is to current price movements. So a 200-day moving average will have a greater lag than a 20-day moving average. Which moving average an investor uses will depend on their trading objective. Investors with shorter term trading objectives will generally want to use short-term moving averages. Conversely, investors with longer-term trading objectives will typically look at long-term moving averages.
Two of the most widely followed moving averages are the 50-day and 200-day. When prices break above or below these averages it is considered a significant trading signal. Other common moving average periods are 10, 20, and 100-day averages.
Moving averages typically are based on the closing price of a security. However, because the moving average is just a calculation, the price that is used is flexible. There are moving averages that are based on the opening price or another regular data point. For the purposes of this article, assume that we are looking at the closing prices.
How is a moving average calculated?
There are three basic types of moving averages: a simple moving average (SMA), a linear weighted moving average (LWMA or just WMA) and an exponential moving average (EMA). The difference between the three is the formula used to calculate them. To understand why each one exists, it’s important to look at them individually.
Simple Moving Average (SMA)– this is really just basic math. SMA is a calculation of the arithmetic mean that you learned in school. You take a series of recent closing prices, add them together, then divide that total by the number of closing prices you’re measuring (i.e. the time period).
For example in the 10 trading days between August 14-August 27, 2018, the closing price for Apple (NASDAQ: AAPL) stock was as follows:
Date
Closing Price
8/27/2018
219.50
8/24/2018
217.94
8/23/2018
216.16
8/22/2018
215.49
8/21/2018
215.04
8/20/2018
215.46
8/17/2018
217.58
8/16/2018
213.32
8/15/2018
210.24
8/14/2018
209.75
To calculate the SMA, you would add up the closing prices for all 10 days:
(219.50 + 217.94 + 216.16 + 215.49 + 215.04 + 215.46 + 217.58 + 213.32 + 210.24 + 209.75) = 2,150.48
Then you would divide that number by 10 (the number of days in the set): 2,150.48/10 = 215.04
So Apple’s SMA for that 10-day period was $215.04.
To plot the 10-day moving average on a stock chart, you would place a dot each day indicating the 10-day moving average calculated for that day and then draw a line to connect the dots.
This brings up a key point about moving averages. The reason why they're called moving averages is that the data is always "moving" to reflect the latest prices. So in our example, once the closing price for Apple was set on 8/27/2018, that price went into the 10-day SMA and the price for 8/13/2018 was removed. So you’ll always be dealing with only a 10-day sample.
Before computers and their processing power became accessible to a wide audience, the Simple Moving Average was the primary moving average tool used because it was quick and easy to calculate. However, with the advent of software that can perform sophisticated calculations at the blink of an eye, coupled with the movement towards online trading, traders began to desire more precision than the SMA is intended to deliver. As traders began to look at price movement, they theorized that current closing prices should have more weight in the moving average than prices further back in time. This led to the creation of weighted moving averages. The most common types are the linear weighted moving average and the exponential moving average.
Linear Weighted Moving Average (LWMA or WMA)- This type of moving average assigns a multiplier (or weight) to data points according to how current they are, and the difference between one data points “weight” and another is 1 (i.e. linear).
If this sounds complicated, it’s really not. Let’s use our Apple example, but let’s just use the five most recent trading days.
Date
Closing Price
Multiplier (Weight)
Weighted Price
8/27/2018
219.50
5
1097.50
8/24/2018
217.94
4
871.76
8/23/2018
216.16
3
648.48
8/22/2018
215.49
2
430.98
8/21/2018
215.04
1
215.04
To calculate the 5-day WMA, you would multiply the closing price by its multiplier for all 5 days. I did this in the "Weighted Price" column. After that, you add all five numbers and get 3,263.76.
Here’s where the magic happens. If you add up each of the multipliers, it totals 15. So you would divide the weighted price by 15 to get the WMA.
So Apple’s WMA for that 5-day period was: 3,623.76/15 = $217.58
The SMA, by comparison, is $216.91.
As you can see, the weighted average is more closely reflecting the higher closing prices since 8/24.
Exponential Moving Average (EMA)– this is another form of weighted average and the most commonly used. The EMA also uses a multiplier. However, instead of using a linear weighted method (which is arbitrary), the EMA is calculated using the closing price, plus the EMA from the day before. This is done using a three-step calculation:
Calculate the SMA Calculate the multiplier (or weight) Calculate the EMA So let’s use our example one more time:
Date
Closing Price
8/27/2018
219.50
8/24/2018
217.94
8/23/2018
216.16
8/22/2018
215.49
8/21/2018
215.04
Step One: Our SMA, as we calculated above, is 216.91. Easy, right?
Step Two: To calculate the multiplier, you divide 2 by the number of time periods plus 1. So in our example, the multiplier would be 2/(5+1) = 0.33
Step Three: This step relies on you knowing the previous day’s EMA. You take the closing price, subtract the previous day’s EMA, then multiply the difference by the multiplier and add the prior day’s EMA:
EMA = (Today’s closing price - Yesterday’s EMA) * Multiplier + Yesterday’s EMA
Of course, manually calculating the EMA would require you to go back to the beginning of the dataset and calculate each day’s EMA, since the EMA calculation requires data from the day before. Hypothetically, let’s assume that the linear weighted moving average (217.58) was the previous day’s EMA.
You would take the closing price of $219.50 and subtract 217.58 = 1.92.
Multiply 1.92 by our multiplier (0.33) = 0.63
Then add 0.63 to the previous day’s EMA (217.58) = 218.21
Although this is a hypothetical example, you can see how there is almost a $1.30 difference between the SMA and the EMA. What is more significant is how the EMA will react to price changes. When viewed on a stock chart, the EMA will respond to a trend faster than the SMA, which is why short-term traders usually prefer the EMA.
A final note about calculating moving averages: you don’t have to do it. Any charting software package will do those calculations for you. The formulas were provided here to illustrate the difference and explain why traders may prefer one over another.
How to use a moving average for trading
Since a moving average is tracking the price of a stock it is logical to say that when the moving average is moving up it signals a positive price movement and when it’s moving down it signals a negative price movement. A moving average can also indicate where a stock has support or resistance. When a stock cannot seem to cross above a moving average, the stock is said to be at a resistance point. The moving average will look like a ceiling that prices cannot rise above. On the opposite end, when a stock price is failing to cross below the moving average it is seen as providing support for the stock price. In this case, the moving average will look like a floor that the stock price will not fall beneath.
One of the most popular strategies that traders employ is the crossover strategy. When the price of a stock crosses above its moving average this is usually a good signal that the price is ready to increase. Likewise, when the stock price dips below its moving average it's usually an indicator that the stock is about to drop. To help add more certainty, traders will often use two moving averages of different lengths, for example, a 20-day and a 50-day. Because the 50-day has more lag, seeing a price move past both averages is more significant. When a stock rises above both averages it is referred to as “The Golden Cross”. This is seen as a good indicator that the price of a stock is about to rise significantly. Conversely, when a stock dips below both moving averages it is seen as an indicator that the price is about to drop. This is known as “The Death Cross”.
What are the disadvantages to the moving average?
The primary disadvantage to the moving average is the same disadvantage that is inherent in all stock price movement. Stocks don’t always behave logically. They certainly don’t move in the same direction all the time. When a stock is behaving in a volatile fashion, the moving average will not adjust in time to be the best predictor of short-term movement.
The bottom line on moving averages
As we said earlier, if it can be measured, our society tends to measure it. The only question, then, is how much weight we give these measurements in our decision making. There are many variations on the moving average. Some traders will create custom moving averages that may work very well for them. As with any statistical analysis, however, care must be taken to ensure data integrity. The key to effectively using moving averages is to suspend your own predictions and go where the data leads.
Often times a moving average can be tweaked to the extent that it shows only what the trader wants to see and not what is actually there. We see this phenomenon commonly in sports where a heavy reliance on “deep data” can cause organizations to overlook a player’s obvious shortcomings, or to discount another player’s intangibles. In the same way, slicing the onion of moving averages too fine can create a self-fulfilling prophecy, whereby the inputs are skewed to deliver the desired output.
To recap, a moving average is a lagging indicator that is intended to give investors a view of where a security is trending without the outlying moves in price that can cause knee-jerk reactions. There are three basic types of moving average: the simple moving average, the weighted moving average, and the exponentially weighted moving average. Each serves the same purpose but has a different correlation to price movement based on how it is calculated.
The so-called dark web, a portion of the hidden internet, is usually associated with a host of illegal activities including the buying and selling of drugs, firearms, stolen financial data and other types of valuable information. The selling point?
That may sound nefarious, but some experts argue that the dark web is also useful in circumventing internet censorship. While most people spend their time online on what is known as the surface web — the portion of the World Wide Web that can be accessed with standard browsers and search engines — it has become relatively easy for anyone to access the deep web.
The deep web is part of the internet that is not found using search engines, and can be accessed only with specific software. It is estimated to be about 400 to 500 times larger than the common internet. The dark web is a small subset of the deep web, and it is a series of encrypted networks that can hide users' identities and locations. The most popular of those networks is called TOR, or The Onion Router, which was developed initially for government use before it was made available to the general public. "When people typically refer to the dark web, a lot of the time they're referring to a portion of the internet that's accessible using an anonymous browsing network called TOR," Charles Carmakal, a vice president at cybersecurity firm FireEye, told CNBC's "Beyond the Valley" podcast. One of the primary functions of the TOR network is that it allows users to access ".onion" pages, which are specially encrypted for maximum privacy. Carmakal explained that TOR also lets users connect to normal websites anonymously so that their internet service providers cannot tell what they're browsing. Similarly, the websites will not be able to pinpoint the location of the users browsing their pages. On the TOR browser, the connection requests are re-routed several times before reaching their destination. For example, if a user in Singapore is trying to connect to a website in London, that request on a TOR browser could be routed from Singapore to New York to Sydney to Capetown to, finally, London. “You do not want to give Jeff Bezos a seven-year head start.” Hear what else Buffett has to say
GET YOUR ESSENTIAL TECH INSIGHT FROM ACROSS THE GLOBE PODCAST SERIES SUBSCRIBE E-NEWSLETTER SIGN UP According to Carmakal, a service like TOR is a useful tool for many users to bypass state censorship and crackdowns on the internet. With it, he said, they can communicate with the free world without any repercussions. The service is also used by journalists and law enforcement, he said. Still, the term dark web today is commonly associated with illegal activities. In recent years, a number of high-profile marketplaces on the dark web were taken down for selling drugs and other contraband, including Silk Road, AlphaBay and Hansa. Law enforcement agencies around the world have been working hard to take down communities on the dark web that criminals use, according to James Chappell, co-founder of a London-based threat intelligence company Digital Shadows. PLAY VIDEO
Hansa, for instance, was taken down by the Dutch national police last year after authorities seized control of the marketplace. In a press release, the officials said they had collected around 10,000 addresses of buyers on the marketplace and passed them onto Europol, the European Union's law enforcement body. "It was very interesting to see the effect this had. Initially, we thought that lots of websites would come back online, just replacing Hansa as soon as it was taken down," Chappell told "Beyond the Valley." Instead, a lot of the users moved away from TOR and onto message-based services like Discord and Telegram, he said.
CNBC's "Beyond the Valley " brings listeners the brightest minds in technology discussing all the trends shaping the tech industry — and your world. Listen to the podcast or sign up for the "Beyond the Valley" newsletter here .
Saheli Roy Choudhury Reporter, CNBC.com
Arjun Kharpal Technology Correspondent by TaboolaMORE FROM CNBC 'This is treason': Read the most dramatic quotes from Bob Woodward's new tell-all… If you invested $1,000 in Amazon in 1997, here's how much you'd have now UK attacks Google over China censorship and failure to remove child abuse content Warren Buffett: The iPhone is 'enormously underpriced' Tyler Perry offers former 'Cosby' actor Geoffrey Owens a job after Trader Joe's s… JP Morgan's top quant warns next crisis to have flash crashes and social unrest not … by Taboola Sponsored Links FROM THE WEB Top CEOs Everywhere Are Using This App Blinkist Learn to Trade US Stock with $100K Demo Account. Access to 1,000+ Financial Assets. - Register Now! eToro Language expert shares the secret to learning a language in 20 mins a day Babbel See The Minimalist Watch Brand Everyone Is Raving About Linjer
Why Amazon Stock Jumped 13.2% in August Last month, the e-commerce giant’s stock continued its powerful 2018 performance. Here's what investors should know.
Beth McKenna (TMFMcKenna) Sep 3, 2018 at 8:15AM What happened Shares of Amazon.com (NASDAQ:AMZN) increased 13.2% in August, according to data from S&P Global Market Intelligence. This brings the e-commerce and cloud-computing behemoth stock's year-to-date 2018 rise to 72.1% through Friday, Aug. 31.
For some context, the S&P 500 returned 3.3% last month and has returned 9.9% so far this year.
Arrow pointing upward at about a 45% angle on a blue graph background. IMAGE SOURCE: GETTY IMAGES.
So what We can attribute Amazon's robust August performance to a continuation of the strong momentum the stock has had all year and the company's release of powerful second-quarter earnings on July 26.
For the quarter, Amazon's revenue jumped 39% year over year to $52.9 billion. Net income increased more than 12 times to $2.5 billion; on a per-share basis, results soared 1,168% to $5.07. The bottom-line demolished Wall Street's consensus of $2.50 per share.
Revenue growth was strong across all three segments, rising 44% in North America, 27% in international, and 49% in Amazon Web Services (AWS). The North America business got a boost from the company's acquisition of Whole Foods in the third quarter of last year. North America and AWS posted robust profit growth, with North America's operating income soaring 321% to $1.8 billion and AWS's climbing 79% to $1.6 billion. International's operating loss narrowed 32% to $494 million. Overall operating income went up 378% to $3.0 billion.
Now what More fantastic growth appears to be on the horizon. For Q3, Amazon guided for revenue of $54.0 billion to $57.5 billion, representing growth of 23% to 31% year over year. It expects operating income of $1.4 billion to $2.4 billion, representing growth of 303% to 592%.
10 stocks we like better than Amazon When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*
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*Stock Advisor returns as of June 4, 2018
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Beth McKenna has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has a disclosure policy.
Here’s how to do it:
Relax the muscles in your face, including tongue, jaw and the muscles around the eyes
Drop your shoulders as far down as they’ll go, followed by your upper and lower arm, one side at a time
Breathe out, relaxing your chest followed by your legs, starting from the thighs and working down
You should then spend 10 seconds trying to clear your mind before thinking about one of the three following images:
You’re lying in a canoe on a calm lake with nothing but a clear blue sky above you
You’re lying in a black velvet hammock in a pitch-black room
You say “don’t think, don’t think, don’t think” to yourself over and over for about 10 seconds.
The technique is said to work for 96 per cent of people after six weeks of practice.
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