China Brokers Race to Raise Funds to Fuel Stocks Frenzy
China shares dive as regulators clamp down on margin trading
Rise in margin lending stokes fears of China bubble
The dollar standard and how the Fed itself created the perfect setup for a stock market crash
Disclaimer: This is neither financial nor trading advice and everyone should trade based on their own risk tolerance. Please leverage yourself accordingly. When you're done, ask yourself: "Am I jacked to the tits?". If the answer is "yes", you're good to go. We're probably experiencing the wildest markets in our lifetime. After doing some research and listening to opinions by several people, I wanted to share my own view on what happened in the market and what could happen in the future. There's no guarantee that the future plays out as I describe it or otherwise I'd become very rich. If you just want tickers and strikes...I don't know if this is going to help you. But anyways, scroll way down to the end. My current position is TLT 171c 8/21, opened on Friday 7/31 when TLT was at 170.50. This is a post trying to describe what it means that we've entered the "dollar standard" decades ago after leaving the gold standard. Furthermore I'll try to explain how the "dollar standard" is the biggest reason behind the 2008 and 2020 financial crisis, stock market crashes and how the Coronavirus pandemic was probably the best catalyst for the global dollar system to blow up.
Tackling the Dollar problem
Throughout the month of July we've seen the "death of the Dollar". At least that's what WSB thinks. It's easy to think that especially since it gets reiterated in most media outlets. I will take the contrarian view. This is a short-term "downturn" in the Dollar and very soon the Dollar will rise a lot against the Euro - supported by the Federal Reserve itself.US dollar Index (DXY)If you zoom out to the 3Y chart you'll see what everyone is being hysterical about. The dollar is dying! It was that low in 2018! This is the end! The Fed has done too much money printing! Zimbabwe and Weimar are coming to the US. There is more to it though. The DXY is dominated by two currency rates and the most important one by far is EURUSD.EURUSD makes up 57.6% of the DXY And we've seen EURUSD rise from 1.14 to 1.18 since July 21st, 2020. Why that date? On that date the European Commission (basically the "government" of the EU) announced that there was an agreement for the historical rescue package for the EU. That showed the markets that the EU seems to be strong and resilient, it seemed to be united (we're not really united, trust me as an European) and therefore there are more chances in the EU, the Euro and more chances taking risks in the EU.Meanwhile the US continued to struggle with the Coronavirus and some states like California went back to restricting public life. The US economy looked weaker and therefore the Euro rose a lot against the USD. From a technical point of view the DXY failed to break the 97.5 resistance in June three times - DXY bulls became exhausted and sellers gained control resulting in a pretty big selloff in the DXY.
Why the DXY is pretty useless
Considering that EURUSD is the dominant force in the DXY I have to say it's pretty useless as a measurement of the US dollar. Why? Well, the economy is a global economy. Global trade is not dominated by trade between the EU and the USA. There are a lot of big exporting nations besides Germany, many of them in Asia. We know about China, Japan, South Korea etc. Depending on the business sector there are a lot of big exporters in so-called "emerging markets". For example, Brazil and India are two of the biggest exporters of beef. Now, what does that mean? It means that we need to look at the US dollar from a broader perspective. Thankfully, the Fed itself provides a more accurate Dollar index. It's called the "Trade Weighted U.S. Dollar Index: Broad, Goods and Services". When you look at that index you will see that it didn't really collapse like the DXY. In fact, it still is as high as it was on March 10, 2020! You know, only two weeks before the stock market bottomed out. How can that be explained?
Global trade, emerging markets and global dollar shortage
Emerging markets are found in countries which have been shifting away from their traditional way of living towards being an industrial nation. Of course, Americans and most of the Europeans don't know how life was 300 years ago.China already completed that transition. Countries like Brazil and India are on its way. The MSCI Emerging Market Index lists 26 countries. Even South Korea is included. However there is a big problem for Emerging Markets: the Coronavirus and US Imports.The good thing about import and export data is that you can't fake it. Those numbers speak the truth. You can see that imports into the US haven't recovered to pre-Corona levels yet. It will be interesting to see the July data coming out on August 5th.Also you can look at exports from Emerging Market economies. Let's take South Korean exports YoY. You can see that South Korean exports are still heavily depressed compared to a year ago. Global trade hasn't really recovered.For July the data still has to be updated that's why you see a "0.0%" change right now.Less US imports mean less US dollars going into foreign countries including Emerging Markets.Those currency pairs are pretty unimpressed by the rising Euro. Let's look at a few examples. Use the 1Y chart to see what I mean. Indian Rupee to USDBrazilian Real to USDSouth Korean Won to USD What do you see if you look at the 1Y chart of those currency pairs? There's no recovery to pre-COVID levels. And this is pretty bad for the global financial system. Why? According to the Bank of International Settlements there is $12.6 trillion of dollar-denominated debt outside of the United States. Now the Coronavirus comes into play where economies around the world are struggling to go back to their previous levels while the currencies of Emerging Markets continue to be WEAK against the US dollar. This is very bad. We've already seen the IMF receiving requests for emergency loans from 80 countries on March 23th. What are we going to see? We know Argentina has defaulted on their debt more than once and make jokes about it. But what happens if we see 5 Argentinas? 10? 20? Even 80? Add to that that global travel is still depressed, especially for US citizens going anywhere. US citizens traveling to other countries is also a situation in which the precious US dollars would enter Emerging Market economies. But it's not happening right now and it won't happen unless we actually get a miracle treatment or the virus simply disappears. This is where the treasury market comes into play. But before that, let's quickly look at what QE (rising Fed balance sheet) does to the USD. Take a look at the Trade-Weighted US dollar Index. Look at it at max timeframe - you'll see what happened in 2008. The dollar went up (shocker).Now let's look at the Fed balance sheet at max timeframe. You will see: as soon as the Fed starts the QE engine, the USD goes UP, not down! September 2008 (Fed first buys MBS), March 2009, March 2020. Is it just a coincidence? No, as I'll explain below. They're correlated and probably even in causation.Oh and in all of those scenarios the stock market crashed...compared to February 2020, the Fed balance sheet grew by ONE TRILLION until March 25th, but the stock market had just finished crashing...can you please prove to me that QE makes stock prices go up? I think I've just proven the opposite correlation.
Bonds, bills, Gold and "inflation"
People laugh at bond bulls or at people buying bonds due to the dropping yields. "Haha you're stupid you're buying an asset which matures in 10 years and yields 5.3% STONKS go up way more!".Let me stop you right there. Why do you buy stocks? Will you hold those stocks until you die so that you regain your initial investment through dividends? No. You buy them because you expect them to go up based on fundamental analysis, news like earnings or other things. Then you sell them when you see your price target reached. The assets appreciated.Why do you buy options? You don't want to hold them until expiration unless they're -90% (what happens most of the time in WSB). You wait until the underlying asset does what you expect it does and then you sell the options to collect the premium. Again, the assets appreciated. It's the exact same thing with treasury securities. The people who've been buying bonds for the past years or even decades didn't want to wait until they mature. Those people want to sell the bonds as they appreciate. Bond prices have an inverse relationship with their yields which is logical when you think about it. Someone who desperately wants and needs the bonds for various reasons will accept to pay a higher price (supply and demand, ya know) and therefore accept a lower yield. By the way, both JP Morgan and Goldmans Sachs posted an unexpected profit this quarter, why? They made a killing trading bonds. US treasury securities are the most liquid asset in the world and they're also the safest asset you can hold. After all, if the US default on their debt you know that the world is doomed. So if US treasuries become worthless anything else has already become worthless. Now why is there so much demand for the safest and most liquid asset in the world? That demand isn't new but it's caused by the situation the global economy is in. Trade and travel are down and probably won't recover anytime soon, emerging markets are struggling both with the virus and their dollar-denominated debt and central banks around the world struggle to find solutions for the problems in the financial markets. How do we now that the markets aren't trusting central banks? Well, bonds tell us that and actually Gold tells us the same! TLT chartGold spot price chart TLT is an ETF which reflects the price of US treasuries with 20 or more years left until maturity. Basically the inverse of the 30 year treasury yield. As you can see from the 5Y chart bonds haven't been doing much from 2016 to mid-2019. Then the repo crisis of September 2019took place and TLT actually rallied in August 2019 before the repo crisis finally occurred!So the bond market signaled that something is wrong in the financial markets and that "something" manifested itself in the repo crisis. After the repo market crisis ended (the Fed didn't really do much to help it, before you ask), bonds again were quiet for three months and started rallying in January (!) while most of the world was sitting on their asses and downplaying the Coronavirus threat. But wait, how does Gold come into play? The Gold chart basically follows the same pattern as the TLT chart. Doing basically nothing from 2016 to mid-2019. From June until August Gold rose a staggering 200 dollars and then again stayed flat until December 2019. After that, Gold had another rally until March when it finally collapsed. Many people think rising Gold prices are a sign of inflation. But where is the inflation? We saw PCE price indices on Friday July 31st and they're at roughly 1%. We've seen CPIs from European countries and the EU itself. France and the EU (July 31st) as a whole had a very slight uptick in CPI while Germany (July 30th), Italy (July 31st) and Spain (July 30th) saw deflationary prints.There is no inflation, nowhere in the world. I'm sorry to burst that bubble. Yet, Gold prices still go up even when the Dollar rallies through the DXY (sadly I have to measure it that way now since the trade-weighted index isn't updated daily) and we know that there is no inflation from a monetary perspective. In fact, Fed chairman JPow, apparently the final boss for all bears, said on Wednesday July 29th that the Coronavirus pandemic is a deflationarydisinflationary event. Someone correct me there, thank you. But deflationary forces are still in place even if JPow wouldn't admit it. To conclude this rather long section: Both bonds and Gold are indicators for an upcoming financial crisis. Bond prices should fall and yields should go up to signal an economic recovery. But the opposite is happening. in that regard heavily rising Gold prices are a very bad signal for the future. Both bonds and Gold are screaming: "The central banks haven't solved the problems". By the way, Gold is also a very liquid asset if you want quick cash, that's why we saw it sell off in March because people needed dollars thanks to repo problems and margin calls.When the deflationary shock happens and another liquidity event occurs there will be another big price drop in precious metals and that's the dip which you could use to load up on metals by the way.
Dismantling the money printer
But the Fed! The M2 money stock is SHOOTING THROUGH THE ROOF! The printers are real!By the way, velocity of M2 was updated on July 30th and saw another sharp decline. If you take a closer look at the M2 stock you see three parts absolutely skyrocketing: savings, demand deposits and institutional money funds. Inflationary? No. So, the printers aren't real. I'm sorry.Quantitative easing (QE) is the biggest part of the Fed's operations to help the economy get back on its feet. What is QE?Upon doing QE the Fed "purchases" treasury and mortgage-backed securities from the commercial banks. The Fed forces the commercial banks to hand over those securities and in return the commercial banks reserve additional bank reserves at an account in the Federal Reserve. This may sound very confusing to everyone so let's make it simple by an analogy.I want to borrow a camera from you, I need it for my road trip. You agree but only if I give you some kind of security - for example 100 bucks as collateral.You keep the 100 bucks safe in your house and wait for me to return safely. You just wait and wait. You can't do anything else in this situation. Maybe my road trip takes a year. Maybe I come back earlier. But as long as I have your camera, the 100 bucks need to stay with you. In this analogy, I am the Fed. You = commercial banks. Camera = treasuries/MBS. 100 bucks = additional bank reserves held at the Fed.
Revisiting 2008 briefly: the true money printers
The true money printers are the commercial banks, not the central banks. The commercial banks give out loans and demand interest payments. Through those interest payments they create money out of thin air! At the end they'll have more money than before giving out the loan. That additional money can be used to give out more loans, buy more treasury/MBS Securities or gain more money through investing and trading. Before the global financial crisis commercial banks were really loose with their policy. You know, the whole "Big Short" story, housing bubble, NINJA loans and so on. The reckless handling of money by the commercial banks led to actual money printing and inflation, until the music suddenly stopped. Bear Stearns went tits up. Lehman went tits up. The banks learned from those years and completely changed, forever. They became very strict with their lending resulting in the Fed and the ECB not being able to raise their rates. By keeping the Fed funds rate low the Federal Reserve wants to encourage commercial banks to give out loans to stimulate the economy. But commercial banks are not playing along. They even accept negative rates in Europe rather than taking risks in the actual economy. The GFC of 2008 completely changed the financial landscape and the central banks have struggled to understand that. The system wasn't working anymore because the main players (the commercial banks) stopped playing with each other. That's also the reason why we see repeated problems in the repo market.
How QE actually decreases liquidity before it's effective
The funny thing about QE is that it achieves the complete opposite of what it's supposed to achieve before actually leading to an economic recovery. What does that mean? Let's go back to my analogy with the camera. Before I take away your camera, you can do several things with it. If you need cash, you can sell it or go to a pawn shop. You can even lend your camera to someone for a daily fee and collect money through that.But then I come along and just take away your camera for a road trip for 100 bucks in collateral. What can you do with those 100 bucks? Basically nothing. You can't buy something else with those. You can't lend the money to someone else. It's basically dead capital. You can just look at it and wait until I come back. And this is what is happening with QE. Commercial banks buy treasuries and MBS due to many reasons, of course they're legally obliged to hold some treasuries, but they also need them to make business.When a commercial bank has a treasury security, they can do the following things with it:- Sell it to get cash- Give out loans against the treasury security- Lend the security to a short seller who wants to short bonds Now the commercial banks received a cash reserve account at the Fed in exchange for their treasury security. What can they do with that?- Give out loans against the reserve account That's it. The bank had to give away a very liquid and flexible asset and received an illiquid asset for it. Well done, Fed. The goal of the Fed is to encourage lending and borrowing through suppressing yields via QE. But it's not happening and we can see that in the H.8 data (assets and liabilities of the commercial banks).There is no recovery to be seen in the credit sector while the commercial banks continue to collect treasury securities and MBS. On one hand, they need to sell a portion of them to the Fed on the other hand they profit off those securities by trading them - remember JPM's earnings. So we see that while the Fed is actually decreasing liquidity in the markets by collecting all the treasuries it has collected in the past, interest rates are still too high. People are scared, and commercial banks don't want to give out loans. This means that as the economic recovery is stalling (another whopping 1.4M jobless claims on Thursday July 30th) the Fed needs to suppress interest rates even more. That means: more QE. that means: the liquidity dries up even more, thanks to the Fed. We heard JPow saying on Wednesday that the Fed will keep their minimum of 120 billion QE per month, but, and this is important, they can increase that amount anytime they see an emergency.And that's exactly what he will do. He will ramp up the QE machine again, removing more bond supply from the market and therefore decreasing the liquidity in financial markets even more. That's his Hail Mary play to force Americans back to taking on debt again.All of that while the government is taking on record debt due to "stimulus" (which is apparently only going to Apple, Amazon and Robinhood). Who pays for the government debt? The taxpayers. The wealthy people. The people who create jobs and opportunities. But in the future they have to pay more taxes to pay down the government debt (or at least pay for the interest). This means that they can't create opportunities right now due to the government going insane with their debt - and of course, there's still the Coronavirus.
"Without the Fed, yields would skyrocket"
This is wrong. The Fed has been keeping their basic level QE of 120 billion per month for months now. But ignoring the fake breakout in the beginning of June (thanks to reopening hopes), yields have been on a steady decline. Let's take a look at the Fed's balance sheet. The Fed has thankfully stayed away from purchasing more treasury bills (short term treasury securities). Bills are important for the repo market as collateral. They're the best collateral you can have and the Fed has already done enough damage by buying those treasury bills in March, destroying even more liquidity than usual. More interesting is the point "notes and bonds, nominal". The Fed added 13.691 billion worth of US treasury notes and bonds to their balance sheet. Luckily for us, the US Department of Treasury releases the results of treasury auctions when they occur. On July 28th there was an auction for the 7 year treasury note. You can find the results under "Note -> Term: 7-year -> Auction Date 07/28/2020 -> Competitive Results PDF". Or here's a link. What do we see? Indirect bidders, which are foreigners by the way, took 28 billion out of the total 44 billion. That's roughly 64% of the entire auction. Primary dealers are the ones which sell the securities to the commercial banks. Direct bidders are domestic buyers of treasuries. The conclusion is: There's insane demand for US treasury notes and bonds by foreigners. Those US treasuries are basically equivalent to US dollars. Now dollar bears should ask themselves this question: If the dollar is close to a collapse and the world wants to get rid fo the US dollar, why do foreigners (i.e. foreign central banks) continue to take 60-70% of every bond auction? They do it because they desperately need dollars and hope to drive prices up, supported by the Federal Reserve itself, in an attempt to have the dollar reserves when the next liquidity event occurs. So foreigners are buying way more treasuries than the Fed does. Final conclusion: the bond market has adjusted to the Fed being a player long time ago. It isn't the first time the Fed has messed around in the bond market.
How market participants are positioned
We know that commercial banks made good money trading bonds and stocks in the past quarter. Besides big tech the stock market is being stagnant, plain and simple. All the stimulus, stimulus#2, vaccinetalksgoingwell.exe, public appearances by Trump, Powell and their friends, the "money printing" (which isn't money printing) by the Fed couldn't push SPY back to ATH which is 339.08 btw. Who can we look at? Several people but let's take Bill Ackman. The one who made a killing with Credit Default Swaps in March and then went LONG (he said it live on TV). Well, there's an update about him:Bill Ackman saying he's effectively 100% longHe says that around the 2 minute mark. Of course, we shouldn't just believe what he says. After all he is a hedge fund manager and wants to make money. But we have to assume that he's long at a significant percentage - it doesn't even make sense to get rid of positions like Hilton when they haven't even recovered yet. Then again, there are sources to get a peek into the positions of hedge funds, let's take Hedgopia.We see: Hedge funds are starting to go long on the 10 year bond. They are very short the 30 year bond. They are very long the Euro, very short on VIX futures and short on the Dollar.
This is the perfect setup for a market meltdown. If hedge funds are really positioned like Ackman and Hedgopia describes, the situation could unwind after a liquidity event:The Fed increases QE to bring down the 30 year yield because the economy isn't recovering yet. We've already seen the correlation of QE and USD and QE and bond prices.That causes a giant short squeeze of hedge funds who are very short the 30 year bond. They need to cover their short positions. But Ackman said they're basically 100% long the stock market and nothing else. So what do they do? They need to sell stocks. Quickly. And what happens when there is a rapid sell-off in stocks? People start to hedge via put options. The VIX rises. But wait, hedge funds are short VIX futures, long Euro and short DXY. To cover their short positions on VIX futures, they need to go long there. VIX continues to go up and the prices of options go suborbital (as far as I can see).Also they need to get rid of Euro futures and cover their short DXY positions. That causes the USD to go up even more. And the Fed will sit there and do their things again: more QE, infinity QE^2, dollar swap lines, repo operations, TARP and whatever. The Fed will be helpless against the forces of the market and have to watch the stock market burn down and they won't even realize that they created the circumstances for it to happen - by their programs to "help the economy" and their talking on TV. Do you remember JPow on 60minutes talking about how they flooded the world with dollars and print it digitally? He wanted us poor people to believe that the Fed is causing hyperinflation and we should take on debt and invest into the stock market. After all, the Fed has it covered. But the Fed hasn't got it covered. And Powell knows it. That's why he's being a bear in the FOMC statements. He knows what's going on. But he can't do anything about it except what's apparently proven to be correct - QE, QE and more QE.
A final note about "stock market is not the economy"
It's true. The stock market doesn't reflect the current state of the economy. The current economy is in complete shambles. But a wise man told me that the stock market is the reflection of the first and second derivatives of the economy. That means: velocity and acceleration of the economy. In retrospect this makes sense. The economy was basically halted all around the world in March. Of course it's easy to have an insane acceleration of the economy when the economy is at 0 and the stock market reflected that. The peak of that accelerating economy ("max velocity" if you want to look at it like that) was in the beginning of June. All countries were reopening, vaccine hopes, JPow injecting confidence into the markets. Since then, SPY is stagnant, IWM/RUT, which is probably the most accurate reflection of the actual economy, has slightly gone down and people have bid up tech stocks in absolute panic mode. Even JPow admitted it. The economic recovery has slowed down and if we look at economic data, the recovery has already stopped completely. The economy is rolling over as we can see in the continued high initial unemployment claims. Another fact to factor into the stock market.
TLDR and positions or ban?
TLDR: global economy bad and dollar shortage. economy not recovering, JPow back to doing QE Infinity. QE Infinity will cause the final squeeze in both the bond and stock market and will force the unwinding of the whole system. Positions: idk. I'll throw in TLT 190c 12/18, SPY 220p 12/18, UUP 26c 12/18.That UUP call had 12.5k volume on Friday 7/31 btw.
Edit about positions and hedge funds
My current positions. You can laugh at my ZEN calls I completely failed with those.I personally will be entering one of the positions mentioned in the end - or similar ones. My personal opinion is that the SPY puts are the weakest try because you have to pay a lot of premium. Also I forgot talking about why hedge funds are shorting the 30 year bond. Someone asked me in the comments and here's my reply: "If you look at treasury yields and stock prices they're pretty much positively correlated. Yields go up, then stocks go up. Yields go down (like in March), then stocks go down. What hedge funds are doing is extremely risky but then again, "hedge funds" is just a name and the hedgies are known for doing extremely risky stuff. They're shorting the 30 year bond because they needs 30y yields to go UP to validate their long positions in the equity market. 30y yields going up means that people are welcoming risk again, taking on debt, spending in the economy. Milton Friedman labeled this the "interest rate fallacy". People usually think that low interest rates mean "easy money" but it's the opposite. Low interest rates mean that money is really tight and hard to get. Rising interest rates on the other hand signal an economic recovery, an increase in economic activity. So hedge funds try to fight the Fed - the Fed is buying the 30 year bonds! - to try to validate their stock market positions. They also short VIX futures to do the same thing. Equity bulls don't want to see VIX higher than 15. They're also short the dollar because it would also validate their position: if the economic recovery happens and the global US dollar cycle gets restored then it will be easy to get dollars and the USD will continue to go down. Then again, they're also fighting against the Fed in this situation because QE and the USD are correlated in my opinion. Another Redditor told me that people who shorted Japanese government bonds completely blew up because the Japanese central bank bought the bonds and the "widow maker trade" was born:https://www.investopedia.com/terms/w/widow-maker.asp"
Since I've mentioned him a lot in the comments, I recommend you check out Steven van Metre's YouTube channel. Especially the bottom passages of my post are based on the knowledge I received from watching his videos. Even if didn't agree with him on the fundamental issues (there are some things like Gold which I view differently than him) I took it as an inspiration to dig deeper. I think he's a great person and even if you're bullish on stocks you can learn something from Steven!
Not sure if this is allowed, but fuck it, we're hurting and desperate times create desperate people who do desperate things. TL;DR: Local butcher shop with cheap prices. Trying to keep afloat and keep folks fed. Address at bottom. Sup ya'll, it's your favorite local meat boy (for those that don’t get it, here's my first post: original NYC meat boy post). Despite COVID cases in NYC having dropped a fair amount, a lot of businesses that have opened up aren't doing so hot, and still some are not going to open up ever again. While there's unemployment insurance for individuals, there really isn't much for small local businesses. I also know that the pandemic boost for UI is about to run out end of month, so if you're sweating about how you're going to eat, I got you. Most of America's economy began to feel the effects of The Rona around March of this year, but businesses located in Chinatown were fucked as early as January. America's reporting on COVID centered around China being the bad guy, which trends to loop all Asian Americans as "others" and "not really American." Chinese businesses tanked and hate crimes shot up. People within the community began their own self-imposed quarantine due to increased fear of being caught slacking by some racist fuckstick. Then came the formal lock down in March, which really flipped us over, bent us over the couch for good leverage, and fucked us deep and hard. At the time of 14JUNE2020, less than half of Chinatown's restaurants are open, and less than a third of total businesses are open (Bloomberg article supporting claim). Most funds meant as relief for small businesses got snagged by large corporations. And now all the SMEs are floundering. As of now, the end of July, still less than a third of Chinatown businesses have opened up, especially since most of them couldn't apply for any assistance due to language barriers. So again, here I am peddling my wares. I also have $9.75 left from someone that wanted to pay it forward earlier in the year for what it’s worth. We’re a small local meat shop. A butcher shop. A boutique culinary protein throwback to simpler times. Whatever the fuck you want to call it. We sell meat. You get the idea. Our prices are real fucking low. Lower than your self esteem. Lower than what your parents think of you. And that’s a good thing. Cause you like cheap things, you cheap fuck. Save all the money you can. While I can’t guarantee that we’re the cheapest you’ve ever seen, I can guarantee that we’ll be top five in cheapest prices in NYC. What do you want? Cause more likely than not, we got that shit. POULTRY. We got all kinds of birds. Chicken, silkies, qual, squab, duck, goose, stewing hens. Fuck you want? Still debating on whether drums or mid’s are better with your friends? Fuck around and cop a pound of each for under $5 per person: mid-wings are $3.89 a pound, drums are back to $.69/lb. Want more meat? Fine. A whole ass chicken leg and thigh, $.89/lb. You fuck with feet? It’s 2020, more power to you my guy. Chicken feet stands at $1.69/lb, duck feet at $1.49/lb. You into titties? Of course you're into titties: chicken breast coming in hot at $4.95 for a 2.2lb net weight bag. Into retirees and GILFs? All you Jack Black: Stewing Hens are two for $5.95. Haven’t gotten neck and head in a hot minute cause of COVID, or your Tinder and Hinge profile is just that basura? Say less: duck heads and necks at $1.39/lb. Into spawn kill? My guy: we got a dozen eggs for $2.95, 30 pack for $6.50. Duck eggs, six for $3.95. PORK. My man, let me tell you something. You fuck with pork chops? Even if you don't, for $2.39/lb, you fuck with pork chops. We got tenderloins for $3.19/lb. Bones for stock? $.99/lb. Let me guess, you miss eating authentic char siu over rice with the sauce from Chinatown. At $2.69/lb for char siu meat, you can afford to fuck up three times and still come out ahead instead of buying it from a restaurant. Since it's getting hot, you're going to want to throw BBQs, right? Hopefully they're socially distanced, everyone is responsible and wearing a mask, and all you motherfuckers got COVID tested prior. Got you some ribs for $2.89 a pound. You want some of them dim sum ribs? Them itty bitty, little tiny cuts of ribs? Small just like your feelings when your ex left you? $3.59 a pound. You been going through a rough time and need an ear to listen to you. $3.39/lb for pig ears buddy, say more. If you been fucking with feet and chicken and duck feet don't cut it, do it like J. Cole "so big it's like a foot is in yo' mouth" cause I got pre-cut pig trotters for $1.49 a pound. Oh, you deadass want the whole foot in your mouth? Weird, but we're being open-minded here: whole uncut pig trotters at $1.79/lb. BEEF. Let me guess: you haven't gotten enough foul language from this post and need a better tongue lashing? You filthy, sick, sorry, piece of shit. Beef tongues will run you $6.99 a pound. Or you want to boss up, but instead of being bad and boujee, you've been sad and boujee cause of COVID. Well, fear not, cause with femur bones at $1.95/lb, you can split them right down the fucking middle to get to that sweet, sweet, succulent marrow and feel like you're out brunching, spending $80 you don't have for a meal you can't afford to flex on hoes you couldn't really give less of a shit about. What's that? Pig trotters don't cut it? You trying to deepthroat the shit? I mean, do mama proud I guess. I got beef trotters/feet at $1.89 a pound. I mean, with skills like that, why you even buying from me? You belong on the yacht of some old rich man. But do you. Oh what's that? Your girl says your stroke game shit and you falling short of getting up in her guts? No fix for that, sorry, but you can cop honeycomb tripe or stomach at $3.39 a pound and know for a fact you can absolutely beat the ever living fuck out of these guts. You trying to fuck with flank steaks? $7.45 my guy. New York Strip? $8.99. T-Bone? $7.99. My bone? Ten camels. Where my Jamaicans at? Waa gwaan? I know oxtail is AT LEAST $6.75/lb where you’re at. We have them on deck for $5.99/lb. Or maybe you’re a rapper. You’re on SoundCloud pushing music and living out your mama’s crib. No shame, it’s rough out here King. Want to know how to really blow up? What did Eminem call himself in 8 Mile? That’s right, B-Rabbit. And you know what I got? Rabbit for $4.69 a pound. You are what you eat man. I’m not saying that eating rabbit will immediately blow your rap career the fuck up and give you the lyrical genius of Eminem, but I’m not saying it won’t either. For less than $5 a pound, you really gonna chance it? What if the other rappers cop it and you don’t and they blow up? Don’t get left behind my guy. You a King and King’s gotta do what they don’t want to do sometimes for the betterment of the folks. And the folks want to hear your music. Or maybe rabbit not your thing. You right, it’s too lean and lacks fat. Eat too much rabbit and nothing else and you’ll starve your body of fat. So how about goat? You want to be the GOAT, don’t you? Reddit’s even got a badge for it. If you want to be the Goat, guess what you gotta do? That’s fucking right, you are what you eat and here I am, your fucking pusher man for goat. You're fancy and trying to be boujee. Let me guess: lamb? Say less, I got you that bonjour hon hon hon rack of of lamb chops. Want a quarter of lamb? Got that too. All you gotta do is ask. I'm not going to really keep going down the list. You get the idea. I work at a fucking meat shop, I'm going to sell meat. I sell wholesale to restaurants and retail to walk-in folks. It's a pretty simple fucking concept. Is our meat fresh? As fresh as, if not more so, than any large chain due to constant turn over on wholesale side. Why are our prices so low? Because we're a small mom-and-pop brick and mortar shop. We're located in Chinatown. Ever heard of FUBU? Same concept: we're built by Chinese immigrants, for Chinese immigrants. Unfortunately, the Chinese population in NYC is one of, if not THE poorest communities we have. Raising prices will price out the community and jack the reason why we're even here: to feed the community. This also means that our margins are fucked, but we're making it work. Yes, we look janky asf. I know, we're not "modern" and our aesthetic looks like some tossed together shit from the 60's. Shit, our band saw is from the 80's. But we're clean, we're sanitary, we pass all health standards and inspections, and we're doing our fucking best. We're literally the definition of "no frills." To hear some say it, we'd be considered ghetto. I prefer the term resourceful, so fuck you. Because we're local and serve local, we only accept cash, EBT, SNAP, and debit. We don't do credit. Venmo is @FourSevenDivisionStreetTrading. PSA as the last one: if you think you can roll up to squeeze us, find out if you're a better shot than I am. Not my job to judge your life choices, but I will send you to someone who will. I'm the only person here that is fluent in English, so unless you're feeling real brave about pointing at shit and figuring it out, you speak a dialect, know how to read Chinese, or know what cut you're looking for, come on Tuesday and Thursday afternoons (02:00pm - 06:30pm) since that's when I'm directly on the floor. If you're a restaurant and you're looking to keep overhead low, PM me, I'll work something out with you. Our location is: 47 Division Street Ground Floor New York, NY 10002 B/D to Grand Street, F to East Broadway Our hours are: Monday - Saturday 0800am - 0630pm 23JUL2020 0323AM Edit: Added beef and lamb, added venmo acc, schedule and times. 25JUL2020 0015AM Edit: Changed schedule to add in Saturday.
The current turmoil in Belarus and its impact to Belarusian-Russian bilateral relations: A few points of consideration
Aleksandr Lukashenko was purportedly re-elected in Belarus's most recent elections. The current turmoil resulted. As is fairly common in certain Eastern European elections, the 80% margin by which he claimed victory gives rise to obvious doubts as to legitimacy. Mass protests and demonstrations resulted. Lukashenko has 'won' past elections by similar margins, at least 85-90%+. Lukashenko has arrested most of his political opponents, and jailed or exiled others. Journalists which report on the extent of his corruption (of which there is no shortage) tend to find themselves in prison. His title as Europe's so called 'last dictator' is well deserved. The Global Response to Lukashenko's Purported Re-Election The global response to Lukashenko's purported re-election has been largely as would be anticipated. Western countries -- and specifically the United States, through Mike Pompeo -- have expressed their reservations. The results are self evidently suspect. Despite this, Russia and China both endorsed the results and both countries have officially signaled their endorsement of the results. Notably, Russia historically has been Belarus's strongest and closest ally, the animosity between Putin and Lukashenko in the recent years notwithstanding. Uncertainty from Russia Despite the official endorsement from Putin, uncertainty remains as to the future of Russian and Belarusian bilateral relations. Several prominent Russians, including those inside Putin's inner circle, have signaled that the Lukashenko's backing from Moscow is not guaranteed. Several developments this year contextualize the current status quo. First, negotiations for discounted oil broke down in totality earlier in February 2020. Russia not only suspended deliveries to Belarus, but offered future sales at "market rates" on a purely commercial basis. Second, the oil negotiations broke down after Putin's proposal to merge the two countries was flatly rejected. Natural gas sales were still discounted somewhat, but the lack of a market rate discount for oil sales to Belarus was a significant blow to the integrity of their relationship. The basic idea here is that when global oil prices were high, Russia could with very little significant loss discount its sales to Belarus to gain favor and geopolitical influence. When oil prices bottomed out -- as they have in recent years -- the costs of that deal to Russia rose, so Russia sought to re-negotiate. In the past, Lukashenko made few concessions (and in fact used the potential of closer ties with the West to extract that concession from Russia, consistent with his historical maneuvering of the animosity between Russia and NATO to his distinct advantage). At the very least, Russia wanted closer economic (and by implication, political) integration; potentially, integration to the level of merging the two countries once Lukashenko left office. Lukashenko predictably rebuked any such proposal. Shrinking Russian Sphere of Influence From the outside looking in, it may not make sense why Russia would even want to integrate with Belarus. All doubt however is resolved in consideration of how the other near and distant dominoes seem to be lining up -- each of them to fall outside the Russian sphere of influence. Consider Kazakhstan, for example. Nazarbayev (Kazakh president) has made deliberate efforts to broaden its economic and cultural reach outside the sphere of Russian influence, even to the point that he changed the Kazakh alphabet from Cyrillic to Latin in 2017. The idea was to draw a line in the sand relative to the scope and extent of Russian influence in Central Asia in general and Kazakhstan in particular. The fact that Russia hemorrhaged allied states following the USSR's collapse is a matter of historical record. Thirteen Warsaw Pact countries have joined NATO. So, when Georgia endeavored to join the EU in 2007, Putin invaded Abkhazia and South Ossetia -- both of which remain allegedly "disputed" territories to this day. A highly deceptive analysis concluded Georgia was to blame; but the whole reason Russia invaded in the first place was because Georgia was actively seeking NATO membership -- of course, to prevent exactly such an invasion. In reality, Russia invaded a sovereign country for the purpose of preventing it from joining NATO. Putin's response shows that in Russia's analysis, Georgia is better as a fragmented state than a NATO ally or EU member. A similar pattern played out in Ukraine. As I have discussed before, when Ukraine sought closer economic and political integration with Western Europe and the United States, that was met with Russian meddling in Ukraine's domestic politics, even to the point of installing Yanukovych as Russia's puppet Ukrainian president. Thereafter, in the face of maidan, Putin invaded eastern Ukraine and seized Crimea. In the example of Ukraine as in Georgia, the outcome shows that Russia would prefer that Ukraine be a failed or fragmented state than a NATO ally or EU member. Recall that the goal here was for Putin to create an economic alliance in at least Eastern Europe and Central Asia to rival the EU, and ideally as an insurance policy against further sanctions. The first step in that process would be developing individualized economic integration projects among each of the former Soviet bloc states. Instead, Putin lost Kazakhstan, Georgia, and Ukraine in the span of less than a decade. Ukraine was the first such integration project -- and that resulted in then-president of Ukraine, Viktor Yanukovych's absconding Ukraine for Russia in disgrace. So is Belarus next? Perhaps. It's a question worth asking; especially considering what "being next" could mean. In a first set of possible worlds, Lukashenko is out because of his own decisions, or because he is forced out (potentially by the protesters, Russia or both). In 2018-2019, when Russian-Belarusian bilateral relations were at their worst, it's conceivable that Putin might have tried something like he achieved in Ukraine -- but highly unlikely. It isn't obvious that Putin would be unwilling invade, given in particular the fact that he invaded Georgia and Ukraine under somewhat similar circumstances and that at this moment Lukashenko is very weak. Lukashenko has never faced mass protests/demonstrations of this caliber before. Putin has, and he survived them, but the public's dissatisfaction with Lukashenko's "leadership" is amplified by the uncertainty surrounding the coronavirus, the consequential economic fallout attributable to the world's response to the coronavirus, and an increasingly ravenous lion to the east in its once-closer ally Russia. This combination of factors certainly suggests that if Moscow sees the opportunity to try to replace Lukashenko with someone more reliable to the Kremlin, that is exactly what the Kremlin would try to accomplish. In that situation, Moscow would be re-running the same play-book it ran to get Yanukovych elected as president of Ukraine. Even if such a far-fetched plan were to work -- and it almost certainly would not, in the short term or the long term -- who would take Lukashenko's place? There is no one that would not leave Moscow worse off than they would be with Lukashenko. While it's obvious why he's not ideal, given the recent history of strife between the two countries, there is no world where Russia's interests are -- at this time -- served by trying to replace Lukashenko with a Kremlin puppet. In the second set of possible worlds, Lukashenko remains and has to quell or pacify the Belarusian political unrest while maintaining ground against increasing Russian pressure. To accomplish this, Lukashenko could do something like seek a trade deal with the EU, as both Georgia and Ukraine did. But that would almost certainly would involve some kind of military response from Russia, just like Georgia and then Ukraine. While there's an argument to be made that Lukashenko's historically closer relationship with Russia (however complicated) insulates him from the kind of retaliation Putin visited upon Georgia and Ukraine, he would still be playing with fire. The Russian response to that kind of a bargaining chip from Russia would likely not come in the form of unwillingness to discount oil; it would come in the same form as was witnessed in Eastern Ukraine. To be clear, neither Putin nor Lukashenko benefit in that case. The remaining option is most likely: Lukashenko "cracks down" on the protests, and then everything goes back to normal. Why Belarus is Different from Ukraine & Georgia As I wrote before, Belarus is not Ukraine. Maidan in Ukraine was in direct response to Ukrainian government's preventing Ukraine from joining the EU. The Ukrainian government opted for a counter-agreement with Russia instead. In response, Ukrainians took to the streets and sought Yanukovych's resignation. He subsequently fled to Russia. There were other abuses that precipitated the demonstrations, like Yanukovych arresting his pro-democracy political opponents and arresting journalists who were reporting on the extent of his corruption, but the threshold moment was when Yanukovych tried to rebuke the democratic will of the Ukrainian people (shirk the EU in favor of the Kremlin). So, for Ukraine, the goal was a clear and decisive move towards the EU and the United States (and NATO, by implication). This was in response to decades of Kremlin meddling in Ukrainian domestic political affairs. Maidan there was Ukraine setting forth a future for itself that did not include Putin. Belarus also isn't Georgia. The purported underlying ethnic conflict behind the Russian invasion of Georgia was little more than an illusory pretext; Saakashvili's primary aim for Georgia was to become a NATO member and there was clear support for that in the Bush Administration because of the implications that would have to world oil markets. Specifically, despite the fact that Georgia has no reserves of its own, a pipeline across Georgia would substantially decrease Western dependence on Middle Eastern oil. Bush even outlined a pathway for both Ukraine and Georgia to join NATO. This was intolerable to Putin, and so he invaded as a result. Belarus and its present situation is almost wholly incongruous. Belarus is now and has always been a far more authoritarian regime than Ukraine ever was, even at its worst. Unlike Ukraine and Georgia, Belarus never made the initial step towards actual democracy that ultimately laid the foundation the Ukrainian maidan or the Georgian efforts to draw closer to the West. Belarus also does not have ambitions of closer ties with the West, and the EU and Untied States in particular -- which Ukraine has sought for some time. Lukashenko only ever used that as a bargaining chip to extract concessions from Moscow -- a fact of which Putin is invariably aware. The riots taking place now in Belarus are not oriented towards any goal in particular, either. It's arbitrary rage. Even if they were oriented towards democratic reform, and it is not clear that they are, Belarus has no intention of divesting itself from the Russian sphere of influence -- however high the costs of maintaining that relationship may be. Compromise / Cooperation best serve both Belarus's & Russia's Interests If both Belarus and Russia act rationally, they will cooperate and compromise. Russia will have little choice but to accept the fact that Belarus is not merging with Russia any time soon. The costs of Russia's invading would be inexorably high. There is no one in Belarusian politics that can replace Lukashenko that would be both able to preserve Belarus as a state and that would in the same instance be able to more effectively advance Moscow's interests. Likewise, it is in Russia's interest that these riots and protests throughout Belarus come to and end -- as quickly and expeditiously as possible. Political unrest in one totalitarian country has a tendency to spread to another; as Putin has experienced time and again, dating back to his time in Dresden through the present. Further, this all comes at a time when Russian public confidence in Putin is at an all time low -- and the potential for another Moscow maidan (and perhaps one that might actually be successful) is at an all time high. Given that, the more pertinent question in the final analysis might even be, if Lukashenko falls, is Putin next? Their fates are tied together, whether they like it or not.
The Versace Tape is the third album the Detroit rapper Boldy James has released in the last six months. It follows February’s The Price of Tea in China, a skeletal but psychedelic collaboration with the acclaimed Los Angeles producer Alchemist, and last month’s constantly molting Manager on McNichols, which was helmed by the veteran but comparatively obscure Sterling Toles, from Boldy’s hometown. Versace pairs the rapper with someone from, well, the internet: Jay Versace, the former Vine star who has lately turned to producing music. It was a surprise this spring when Versace popped up in the credits of Westside Gunn’s Pray for Paris; The Versace Tape is Boldy’s first album for Griselda Records, the label co-founded by Gunn, and fits neatly into a machine that promises steely, ambitious street rap, delivered at regular intervals. Boldy’s catalog has the quality of genre fiction: his songs hit familiar notes and live in an instantly recognizable milieu. The style is repeatable without being repetitive, its dials tweaked slightly for each new iteration. The Versace Tape’s intro smartly signals that the rapper has refitted his approach for Griselda Records, whose releases––especially Gunn’s––are littered with, and in some ways defined by, references to luxury goods. This intro is a local news clip about a thief who walks into a gas station and steals a “very expensive pair of Cartier glasses” right off of a victim’s face before sauntering out the door and into a waiting car. The police, this news anchor says, described the suspect as “bold and nonchalant.” That nonchalance is one of Boldy’s signatures; it’s slyly funny when, on the already muted “Maria,” he deadpans that all the money he’s been raking in is making him emotional. Early on “Brick Van Exel”––he can cook with his left hand––Boldy recalls two generations of his relatives growing into the drug trade. The moment is allowed to land, but not linger; there are instructions about burner phones and stern warnings to give. Later on in the same song, he raps, “Every time I met up with the plug, felt like a setup,” before once again dropping that idea to follow a new tangent. This structure and affect makes his music compulsively listenable, because it suggests these stark personal revelations and jaw-dropping asides will be meted out consistently, as if from a metronome. They are. Versace’s beats are similarly reliable. It is perhaps ironic that such an antic internet personality is turning out beats that fit so neatly in the post-Dilla, -Madlib, -Marcberg world of contemporary underground street rap, where drums are of little concern and loops are often laid bare. This album is warm, as if it was all dipped in sepia. To that point, one of the most pleasantly surprising aspects of Boldy’s work this year is the sentimentality that creeps in at the margins. “Long Live Julio,” one of the record’s standout tracks, begins with an ad-libbed redux of a famous Eazy-E hook, where the “boys in the hood” are not meant to be menacing and mythic, but rather young and full of promise, frozen in memory. Boldy throws the song into fourth-period lunchrooms and cramped bathrooms where he’s scrubbing Nikes with a toothbrush; he makes the life sentences that hang over murder cases sound like speedbumps in his school parking lot. Even in these moments, though, Boldy is the consummate technician. From the time he says “Rest in peace, Eric Wright” at the song’s beginning, he never strays from that rhyme pattern; it strings together prayers to God and homage to Fredo Santana. This trio of 2020 albums suggests that the windows into an artist’s past, soul, and psyche can be pried open not only in fits of mysterious inspiration, but also by relentless, uniform effort.
Didn’t see one posted yet so let this be the megathread that cliff can sticky or whatever. I’ll update this as info comes in and maybe live blog the call if I make it to my computer in time Webcast info can be found at: https://ir.tesla.com/events/event-details/tesla-inc-q2-2020-financial-results-and-qa-webcast The call starts at 2:30pm PDT Q2 report: https://ir.tesla.com/static-files/f41f4254-f1cc-4929-a0b6-6623b00475a6 Call live blog (times in PDT): 2:30: "Call starting shortly" 2:32: Tesla director of investor relations 2:33: Elon opening remarks. Good job to the Tesla team. 4th consecutive profitable quarter. Auto industry is down, but Tesla is up. Next gigafactory is just north of Austin, Texas (15 min from downtown Austin) on the Colorado river. "Boardwalk" and "ecological paradise." Cyber truck, Semi, and 3&y for eastern half of North America. Fremont will do S&X for worldwide and 3&Y for western half of NA. Shout out to Tulsa. Tesla solar is the cheapest in the US. 30% cheaper than US average. $1.49/w. New Tesla Model S has a range over 400 miles. 2:39: FSD crap 2:40: Thank you Tesla team again for a full year of profitability. 3 new factories within the next year. "So much to be excited about"! "Never been more excited for the future of Tesla" 2:42: CFO Saved costs by laying employees off Continue reducing costs $48M FSD recognized Megapack is profitable Questions from institutional investors: Q: *missed the first question, sorry* Q: Vision for the future A: FSD on all vehicles. Biggest value increase of any company. Q: AP. Upcoming self driving milestones A: Major milestone is transition from "2.5D" (pictures) to "4D" (video) environment. Later this year. Big improvement to process video instead of pictures for FSD... Better than humans. "Orders of magnitude reliability" better. Elon thinks computers are smart. Q: Alien Dreadnought A: Putting more work into manufacturing engineering to make the machine that makes the machine. GF1 is alien dreadnought version 0.5. Working towards 1.0. GF Shanghai makes better cars than Fremont. Berlin Model Y will look the same but have more advanced architecture. Integrating design and manufacturing. Vertical integration is important. Increasing CapEx efficiency. "Tesla loves manufacturing!" Q: How many can Tesla produce in Texas A: "Right now, 0. Long term, a lot." Retail: Q: Tesla Energy A: Long term Tesla Energy will be same size as Tesla Automotive. Solar, wind, and batteries. Grid scale storage will expand. Auto-bidder is autopilot for battery storage; Like high frequency trading. Makes sure the battery is working correctly and grid satisfied. Main thing about Tesla is cell production at an affordable price (Tesla doesn't manufacture cells though? - me). "Talk more about this at battery day." Q: Tesla Semi production plans A: Production will start next year. First few units will be used by Tesla. Mainly between Fremont and Reno/Sparks. Some early units will go to some early adopters. Semi will be awesome. Semi will use nickel based cells. Passenger vehicles will use iron based cells; range of maybe 300 miles in the Chinese market. Use very little cobalt in cells already. Q: Why is Tesla removing the standard range vehicles A: "Mining companies, please mine more nickel at high volume." Tesla will sign a long term contract. New normal for range will be ~300 miles. Q: What is the hold up of Tesla insurance outside of California A: "Joking before call about quarterly insurance question." "Version 0.9" in California. Use the data captured in the car to assess probability of crash and use that for premium. Take the California product and use it in other states or make other states better; going with the latter. Handful of states by the end of the year. Regulatory approval will be needed. Version 2, Version 3, etc. as they go forward. Car will let you know to "drive better if you want a lower premium." Elon: "#1 thing to take from this call is that Tesla is hiring ... especially insurance." Tesla insurance will be provided for Tesla Network car sharing; not required. Investors on the line: Q: Gross margin of vehicles different between factories. A: GM increased in China. Model Y was profitable in first quarter of production. Model Y is more expensive than Model 3 to produce, but will become closer to the same. Locally sourcing components is "literally rising 5%-10% price improvement per month." Suppliers are eager to support Berlin GF. Q: Is Tesla aiming for industry leading gross margin. EV credits A: "We don't run the business to rely on regulatory credits." Revenue from FSD. OpEx continues to come down. I have to go, so this is it for the call live blogging
$LPTH - DD - lightpath technologies - A company which is growing and will keep on growing
Overview: LightPath Technologies is a recognized leader in optics and photonics solutions, serving blue chip customers in the industrial, defense, telecommunications, testing and measurement, and medical industries, for over 35 years. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, and fused fiber collimators. LightPath also offers custom optical assemblies, including full engineering design support for both optics and mechanics. This allows for the highest level of optical integration, lower cost, and ensures the highest level of quality, performance and manufacturability. Presence in multiple countries:.
Customers: Look at these customer list, detailed list in the pic. They are separated by Infrared and Visible light. Same can be found HERE
INFRARED OPTICS : Infrared lenses designed for thermal imaging cameras operating in the mid-wave and long-wave infrared (MWIR, LWIR) bands, for applications such as thermography, diagnostics, security and surveillance.
ASPHERES : Precision molded glass lenses for applications in the visible and near-infrared (NIR) wavebands, such as small beam collimation, focusing and fiber coupling.
COLLIMATORS : Geltech™ aspheric glass lenses mounted in standard fiber-connector housings, for use in coupling and collimating applications in the visible and near-infrared (NIR) wavebands.
ISP OPTICS: We are your source for the most unique selection of IR lenses, windows, beamsplitters and other IR optical components in the industry at the best prices.
Recent News, catalysts, facts:
LightPath Technologies Continues to Experience High Market Demand for its Molded BD6 Family of Thermal Lenses. Received New Orders Totaling More Than $1.7 Million in Asian Market for Medical and Sensing Applications. Details are HERE
Jul 21 - CEO Details Competitive Advantage to Fuel Rapid Growth LINK HERE
Inclusion in Russel Index: The company was recently added to Russell Microcap Index on Jun 29. Details can be seen HERE
Infrared lenses market is projected to grow to $750M by 2024, with Chalcogenide growing to 65% of the market
Lightpath molded lenses are used in telecom equipment in interfaces of light in and out of fibers, detectors and lasers
5G network architecture requires closer together network access points, leading to higher demand of lenses
Far outperforming their industry: LPTH demonstrates a +10.16% growth in revenue based on a trailing 12-month window, versus the entirety of the Electronic Equipment, Instruments & Components Industry in which they compete, which was down -2.22% on average. Lightpath knows how to operate in their industry and can create profitability even post-Covid-19. Even in this profitable sector, LPTH outshines many other earners with a gross profit margin of 44.9% in the trailing 12-month window, versus the industry’s 38.1%.
Job posting: A whole lot of new job posting than usual for this company in this quarter. details HERE
All-Time high sales: With recorded revenue of 33.75 Million, LPTH’s 2019 revenue has set new records every year for the past 5 years running, and (excluding Depreciation and Amortization expenses) record income each concurrent year. The team behind LPTH knows how to drive valuation and increase their company’s profitability and understand how to scale a tech firm. https://www.marketwatch.com/investing/stock/lpth/financials
Insider trading : On Jun 22 there was a purchase of 1,750,000 shares at 2$. details HERE .
Gross margin as a percentage of revenue was 46%, up from 39%
Net income was $816,000, compared to a net loss of $352,000
12-month backlog reached another record of $20.0 million at March 31, 2019, compared to $17.1 million at March 31, 2019
Operating expenses decreased to $2.9 million for the third quarter of fiscal 2020, compared to $3.1 million in the same quarter of the prior fiscal year.
Growth: Company uses Chalcogenide and its low cost and very high demand. see this article Increased mutual fund ownership Mutual funds have been increasing their positions in LPTH, with previous quarter increases exceeding 48.13% .These funds include Vanguard, Royce, and Fidelity – all moving their positions deeper with Royce now holding 4.4% of the company’s shares. This shows high interest from proven winners who understand the market and a confidence in the long-term profitability of the firm. https://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=LPTH Analyst opinions - Refinitiv/Verus has a strong BUY opinion, ranking it with their “SmartIndex” score of 37.41% - a very bullish signal that indicates a strong reasoning to increase positions. This has been upgraded by 3 firms from a Neutral position to a bullish BUY, with FBR indicating a 1-year history of nearly constant outperformance for the relative sector. Upcoming catalyst: Strong earnings this year, with earnings upcoming September 10th. – Q2 and Q3 have both met or exceeded EPS estimates, with current estimates indicating a repeat of this for the upcoming report. Higher earnings per share is one of the key factors to look at when evaluating the feasibility of any Price Target: This company has a solid growth. Here is a article which clearly explains thermal imaging market continues to rapidly expand and company has a great future. This is a low float once it gets the eyes it can be move a lot. Risks: LPTH has little demonstrated interest in the usual PR-spam that people interested in volatile growth like to see. They focus on their work, and not so much pumping the news cycle. This is both good and bad – when positive PR releases do happen, historical charts show growth is positive and quick – yet the inverse is likely also true. This does also present the benefit of being a safe-haven versus a highly volatile, high volume play. Relatively low-float – Shares are, by nature, subject to higher volatility and offerings once the prices begin to increase. In companies that stay under the radar such as LPTH, there are opportunities for both buyers and short-sellers, and there is ample opportunity to end up a bag-holder if responsible exit plans are not in place. (This hopefully is becoming a common practice for everyone – know when to leave before you get in! Stock History: Look at the stock history it has been constantly growing from last 6 month. It was at .63 and now trading around 3$. Its not a pump dump but a company which actually has a growth and a solid investment as well.
Earning Plays for Dummies: $UA is Under Water (Basic TA & Obvious Catalysts)
TL;DR: $UA is taking on a lot of debt because of historically low retail sales causing near bankruptcy cash flow. Largest athletic apparel retailer or not, when the business isn't making money it's losing it. Taking on LARGE amount of debt, to raise cash, to keep the doors open is not the nail in the coffin, but it is damn near close. ER this Friday 7/31 could be a historic miss and future projections, margins, growth and competition will cause a sell off. Super BEAR: 7/31 $8.50-$9 Puts Conservative BEAR: 8/14 $7.50-$8 Puts
To Bearish Autists,
Alright retards, this DD is not done by a professional CFA, CPA or single employee LLC day trading firm. I'm a college grad, with a BS in Chemistry, and i'm 100% self taught on trading for the last 5 years. It's a hobby that pays for other hobbies, not a job and definitely not a thing i do without being informed. That being said heres my hypothesis.
$UA Has Struggled
This is no secret as many of us have brand name recognition of $UA and many of us own it. We know its not Nike and it's a step above Champions and other retail store brands, but it is simply the cost efficient/value brand for people that want quality and but aren't willing to pay Nike prices or get chafed nipples from the $WMT brand. It's become the largest athletic apparel brand in the US, with growth potential in China, signing one of the NBAs biggest star Steph Curry. Heres the problem, the company is facing increased competition and Covid may of burned down the house when they closed retailers. $UA helped prove there is a middle ground between $NKE and $WMT in quality and price, but they failed to build beyond that, and now $AMZN and other other brands have saturated the market. When i need workout clothes, i look online, a small part of $UA business model. I look for value, and although i'm not buying Nike i'm not buying $UA either. There are tons of other brands that provide the same quality cheaper, and i don't care about brand at they gym, just comfort. $UA failed to build a signature style, they got Steph Curry, but i never hear a 24 year old sneaker head dying over their new pair of shoes. They failed to push online channels of distribution, "have you been to their website?", and some compare their pandemic model to $LULU but they are completely different brands by quality, price and consumer segment. The companies lack of success could be bad marketing, they have the largest athletic apparel market share, but they can't turn a decent YOY earnings report. So it comes down to poor financial management and high levels of competition driving lower margins. In 2016 $UA was nearly $50/share and its lost billions YOY. Now it's facing an unpredictable pandemic, and record low revenue on a house of debt.
Important Factors for ER
The pandemic closed retailers and one of the largest retailers of $UA is Kohl's ($KSS). Because nearly 80% of the companies worth is in their merchandise revenue, this is a major hit. The other 20% is a licensee program that they get from selling the right to 3rd party manufacturers to make and sell the brand. They get revenue from licenses, but i'm not sure about royalties. This means that wholesale manufacturers could sell to other online retailers at a lower competitive rate than $UA if they are crafty enough, and their is supposedly low oversight on this. You can buy $UA on $AMZN but that doesn't mean you will be buying directly from $UA, and this could be true in open retail stores now. from 2017 to Q1 2020 online sales on $UA website have only grown 4%. $UA has had a tough time to have a direct to consumer channel over the past two quarters. The pandemic has lead to huge losses in retail sales, and the brands themselves. This leads us to our next subject.
DEBT DEBT & More DEBT
$UA Market Cap: $4.837 Billion Liabilities: $3.387 Billion (Q1 2020) Assets: $1.550 Billion (Q1 2020) Cash is KING and $UA is in desperate need of it with a recent convertible note offering that raised over $400 million dollars. I'm not a finance expert, but here's a snippet that explains the liquidity crunch.
As of March 31, Under Armour had just $959 million in cash. Now, it recently raised another $460 million or so in a convertible note, so its total liquidity is about $1.41 billion. But if it burns through $400 million over the next two quarters, the balance would fall to $600 million or so. At that point, the company would likely have to raise permanent equity and/or a mixture of equity and debt. Right now the company’s tangible book value per share (TBVPS) is just $1.02 billion, or $2.26 per share, according to data compiled by Seeking Alpha.>So, here is the problem: By the end of Q3, with another $800 million in FCF loses, the tangible book value will fall to $224 million or so, and the TBVPS will be just 49 cents per share. If that’s the case, there is no way that UA stock would still be trading at $9.28 per share, where it was earlier this week.-InvestorsPlace (Mark Hake)
Simply put they need to be frugal and cut cost to prevent bankruptcy. this is shown further in the last two weeks when $UA announced they will sell their running/social app, MyFitnessPal. They also sought to break a sponsorship deal with UCLA to conserve cash (nearly $20mil/year). The price tag for MyFitnessPal in 2015 was $425million, i don’t think $UA will have a easy time getting anyone to buy it, much less gain on the investment. Also the sponsorship deal isn’t broken, yet, and if they do it may come with a huge monetary penalty....exactly what they want to avoid. This weeks earnings report will announce a huge amount of new liabilities along with massive reductions in revenue expectations. This is the most important part of the ER this week.
Good news this week for $UA is that they won a branding lawsuit in China this week...against a competitor that you nor I have and will never hear of. China is a very interesting component in the American economic and political world. They are a huge market, but politically they are neither our ally nor our foe. India will give us the same problem in 10-15 years. With increased tensions between DC and Beijing the risk of tariffs and american companies suffering are on the rise, especially retail and manufacturing. However, China presents a huge growth opportunity to whichever lucky retailers and brands can bribe the right officials and not get caught. $UA is one of those lucky companies, but they are competing in a tough sector. Nike, Adidas, New Balance, a zillion new brands that nobody has heard of and of course knock offs. I lived in Shanghai for a year in college, and theirs “Fake mall” everywhere selling the new Jorban’s and Rolex’s and of course $UA and the Chinese government will never stop it because they don’t practice fair trade practices, at least correctly. 30% of revenue for $UA is international business including several asian and european countries and Australia. China could eventually be more of a cash cow than the US for $UA. The international opportunity is real, but $UA may never see the light at the end of the tunnel due to this dark period of financial ruins and a competitive marketplace.
The ER for $UA is going to be devastating as it has been in quarters past. you’d be insane to think any differently as the company has only seen worse and worse circumstances with little navigational correction. The only thing that could prevent a total 15-25% downside is some sort of good news. What possible good news could they have, i personally can’t think of any if they are being honest and don’t give BS projections like $TSLA. IF you think of any, or i’m missing any honest upside to this ER please comment.
EPS: -0.4$ (Big miss) Revenue: $536mil (Near miss) Revenue is key, but the Cash flow and added liabilities will be the dagger.
A LITTLE TA & CHART PRICE ACTION
6 month Daily candle The price of $UA has been hovering around $6.40 & $10.60 for nearly 5 months. $UA has found a solid support at $8.25 and has an upward channel trend, and this has been a very slow recovery relative to other retail brands. RSI is inching toward overbought. MACD is unsure of the last two months progression and is looking to swing one way or the other after the ER, my bet is down. i expect that $UA will continue on trend nearing $10.60, if the stock price does not fall below the three day trend line(Lilac) then i will wait until thursday afternoon to buy the Puts for the morning ER Call. IF it falls below the lilac line before thursday afternoon i expect my downward channel to be correct and i purchase puts immediately. Still pondering my strategy for entry and optimizing the return, between there two option ideas. Super BEAR: 7/31 $9-$9.50 Conservative BEAR: 8/14 $7.50-$8 Puts $UA has a great value product. It has not done a good job financially due to massive oversight in fiscal management, not creating a better direct to consumer interface, and not being competitive enough in a market with stagnant margins and retail competition that can undercut and or be more popular than the other with celebrities and fashion. $UA is not $LULU, and its drowning in debt with no end in sight. Their model has failed, and their leadership has failed. I suspect retail traders who know $UA by name recognition are propping this up, not understanding their in trouble. As soon as institutional money abandons so will the pocket investors, not to poke fun at you retards. But hey, i may just be a fucking retard. P.S. - IF $UA goes under, or is bought out, which athletic apparel company gains the most? My guess is $NKE (long) or $AMZN. Edit: 7/27 today the SEC notified $UA that they will enforce action against the company for accounting practices seen as fraudulent in 2016 and 2017. It keeps getting worse. Edit: 7/30 today will most likely be the best opportunity to get cheap 10-20% OTM puts for Friday’s earning call. The stock is shrugged off SEC notices to top executives and a gloomy prediction for earnings. But the market isn’t rational right now, if it ever is, and the stock is looking to squeeze out of its channel past $10.60, and people will take profit before the crash after ER. Edit: 7/30 AH. 2500 shares pushed the stock up nearly 4%...still expecting big downward projection come morning. Bought 8/14 $8.50 puts this AM. Edit: 7/30 AH. 10,000 volume pushed the stock up 10% when it moves 1-2% on 5-7 million volume days. I smell stock manipulation by an insider who want to distract from the ER. Result: AH high of $12.80 and down to $10.25 pre market, I didn’t expect price action to play such a large role in this ER. Final: watching for 8/14 $8 put, won’t hold till expire most likely. AH/PM on 7/31 was wild and ruined the lotto for 7/31. I’m convinced it was manipulated, why else would a stock increase 25% AH before earnings and drop 27% thereafter from the AH high...in the first hour of trading...they wanted the stock to have buffer and show a new price action target/action...should of dropped below $9 but $9.49 from $12.80 high at least validates my opinion to some degree. $9.31 new support for monday, may blow past support channel at $8.90 and then drop to $8.20 soon after. OR there could be a retracement to the idiotic $12.81. All in all Lost 1% of my account on a yolo, truly retarded. Daily Candles 1min candles - Note AH pump...
News Heading into Friday July 24th 2020 NOTE: PLEASE DO NOT YOLO THE VARIOUS TICKERS WITHOUT DOING RESEARCH. THE TIME STAMPS ON THE FOLLOWING ARTICLES MAY BE LATER THAN OTHERS ON THE WEB. THE CREATOR OF THIS THREAD COMPILED THE FOLLOWING IN A QUICK MANNER AND DOES NOT ATTEST TO THE VERACITY OF THE INFORMATION BELOW. YOU ARE RESPONSIBLE FOR VETTING YOUR OWN SOURCES AND DOING YOUR OWN DD.
China tells US to close consulate in Chengdu in growing spat
CSTR ($10.90) CapStar Financial Holdings and Gaylon Lawrence Announce Collaborative Agreement
IO) ($2.85) ION announces first 3D multi-client program in Mauritania
BKYI ($0.67) Identity, Security and Access Management Solutions Provider BIO-key Completes $24.8 Million Public Offering
DXC ENGIE IT Teams with DXC Technology and ServiceNow to Launch Certified Global Center of Excellence
MARA ($0.99) Marathon Patent Group Announces Pricing of $6.0 Million Upsized Underwritten Public Offering of Common Stock
APM ($3.66) Aptorum Group Becomes the First Nasdaq Listed Biopharmaceutical Company Admitted to Trading on Euronext Paris Stock Exchange Under the Ticker Symbol APM
OCX Oncocyte to Hold KOL Webinar Showcasing New Data and Real World Usage of DetermaRx™
RDUS ($13.90) Menarini Group and Radius Health Announce Global License Agreement for the Development and Commercialization of Elacestrant
THTX ($3.19) Theratechnologies Reports That Tesamorelin Improves Liver Health
UXIN ($1.42) Uxin Reports Unaudited Financial Results for the Transition Period from January 1 to March 31, 2020
BIOL ($0.45) reported (3) new insider trades (acquisitions) to the SEC
ENLC ($2.54) EnLink Midstream to Participate in Investor Conference
PSTV ($2,46) Plus Therapeutics to Present at the YAFO Access China Partnering Conference on July 30, 2020
BTE ($0.52) Baytex Conference Call and Webcast on Second Quarter 2020 Results to be Held on July 30, 2020
HEXO ($0.73) HEXO vapes now available across Canada
GWGH ($6.76) reported 6 new insider trades to the SEC
This is my first DD. I feel really good about it. I’m just your average investotradegambler, but do like to dig deep, and think I found something here. Let's go. TL;DR Buy AXDX calls. July/Aug/Nov exp. 15-20 strikes. Shoot for 25 for max tendies. Go long AXDX shares on margin, too. Why?
Experienced investor with an awesome track record of winning as a shareholder (and fighting for shareholder value) recently showed showing extreme confidence in the company ($25MM buy)
They are gonna get $ from COVID testing revenues incoming which were not expected in their business plans at all (and this is a relatively low rev company, so the boost will look great)
EUA for the tests < 2 weeks away from being announced - we have evidence from other applications that it should be any time now
Besides all that, everything on track with their normal core business and it shouldn't be much affected by COVD
Now, for the real story... It started with a LARGE buy that caught my eye Actually, a series of buys from Jack Schuler. Schuler has spent over 30 years in the pharmaceutical industry, including having served as President and Chief Operating Officer of Abbott Laboratories. Today, Mr. Schuler serves on the board of directors for several companies, including Accelerate Diagnostics, Quidel Corporation and Biodesix, Inc. I'll do the math for you: that's $26.7MM of stock purchased during this dip. OK, so insider sales don't mean everything? We don't panic when we see selling because sometimes people just need to cash out. So we cannot just assume this means anything. Can we? Looking back at Jack's buying history - this was a v big buy for Jack Looking back, Schuler is quite active in investing in his companies. But it's not always buys, he does sell. And if you look further back, you actually see some interesting things. Starting with AXDX: Before the buys shown above, the last time Jack made a slew of purchases was between Aug 11 2017 and May 15 2018 when he purchased $29MM total. Note that this was over the course of a year for an average price of about $20 a share. Prior to those buys, you have to go back to Jan 2017 before he made any other bets. In other words, Jack just bought as much stock in the last few months than he'd bought in the previous few years. So it seems like Jack feels really good about buying this dip. Is that enough? Probably... but let's keep going. Jack has been around the block - and Jack likes winning (Jack gets top $ for Ventana) He's been quite successful in being an activist that fights for his shareholders. That is a great thing if you are in investor. I managed to stumble across this gem: Jack Schuler historical record of 'dirty tricks' in business. It's truly amazing. It's some dude's salty manifesto about how Jack S is a actually just a bad ass investor. Back in 2007, Roche wanted to buy Ventana who Jack was an investor in. He has big problems with the initial price that was offered and slowed down the deal. Here's what he said:
"This is about stockholder value," said Ventana chairman Jack Schuler. "Simply put, we believe that Roche is trying to capture value for its stockholders that rightly belongs to Ventana's stockholders." Ironically, as Roche was hailing its offer as a 44% premium on Ventana's stock value of $51.95 on June 22, 2007 (the last trading day before Roche submitted its bid to Ventana), the stock has steadily risen to a recent close of more than $83.
Preach! He's not playing dirty tricks. He wants shareholder value. What's wrong with that? Long story short, the deal was hung up because Jack needed all of his tendies. It eventually went through at a 19.3% premium to Roche's initial offer on June 27, 2007. Well done, Jack! I'd certainly want him to negotiate 20% more for my shares. Turns out Jack has a history of winning - Jack wins with Stericycle, Medtronic, and more Digging deeper, Jack (and John Patience, the same one from the screenshot below) did the same trick with Stericycle. The buys referenced in this article were unloaded 4-5 years later for 80-100% profits. He also did it with Medtronic in 2010. He picked up 30,000 shares at an average price of $36.93 each on June 25. Medtronic is at $93 today ($115 pre-covid) and pays a dividend. That ones seems to have worked out too. He has other winners too. Jack. Is. A. Winner. Isthatenough? Honestly, for you degens, yeah it should be. Jack has a strong track record. He thinks $10 is way too cheap, so he just bought an assload. Also, we know he doesn't hate money. A man like that never starts to hate money. Did I say a COVID tailwind? Yup. Did I mention that they have a COVID tailwind? I shit you not. It keeps getting better. You know the serology tests that determine if you've had CV? That test for antibodies? Well, turns out AXDX was perfectly set up to capitalize because they can make these. And they are planning to do so! On top of a slow and steady growth of sales of medical devices, which is AXDX's core business, AXDX can monetize on these tests which will be really important in the coming year as the world learns how to live with COVID (knowing who has had the disease is very important). From the CEO on the earnings call in May:
Lastly, through a recently signed collaboration agreement with BioCheck Ltd, we have begun commercializing the MS-FAST fully automated chemiluminescence immunoassay analyzer and SARS-COV-2 test for the detection of IgG and IgM. This partnership has the potential to provide both an avenue to reengage prospective customers on Pheno as well as a near-term revenue uplift. The performance data for these assays are best-in-class with sensitivity and specificity estimated as exceeding 95% for both assays based on over 100 samples collected at the source of the pandemic, Wuhan, China. Since announcing the partnership on April 15, we have received several indications of interest across the global business. We are continuing to work with the FDA on our emergency use authorization for commercialization in the U.S., and we have taken initial orders in EMEA. While we are tremendously excited about this collaboration agreement and are eager to play a role in fighting this pandemic, it remains too early to estimate the revenue potential of this opportunity. In my 30 years in diagnostics, I have never experienced a period of such profound disruption. However, with this disruption comes the creation of new opportunities, the near-term impact from this pandemic to accelerate and most other healthcare companies is significant while at the same time shining a brighter light on the value of rapid diagnostics for infectious disease.
Awesome! So, we are stumbling into quite a bit revenue we were not expecting. That's dope. More good news? Yup. The CEO references that their core product (Pheno) now has advantages due to COVID that will help future sales:
And a big part of this will be, in my opinion, will be around how do you better manage infectious disease crises, how do you better manage secondary infections, how do you better manage bed utilization and staff utilization? And those are all things that Pheno directly addresses. I mean Pheno gets patients on optimal therapy much, much quicker, two, three days quicker, and get patients out of the hospital two to five days quicker in some cases. And so with that, I mean, as healthcare providers look at these things, I mean, we fully expect them to be really having a heightened sense of interest in what we're doing in this space.
I suspect that others noticed what I have noticed, so it's been up up an away.
This week was especially bonkers. Up 5-10% most days. Never seen action like it.
But notice that today was a BIG DOWN day after 6 in a row up. It had to cool off. Maybe it cools off more Monday...? It will have reasons to go up soon that have not yet materialized (more below)
I see no reason why we wouldn't be headed back to ranges that it was safely in last year... especially with the tailwinds due to testing revenue, Jack S's confidence, and the recovery of markets (though AXDX is hardly affected by the shutdown).
Buy the dip, before the EUA approval! Remember those serology tests? AXDX is within weeks, by my estimate, of getting those approved for use. What pharma company doesn't love a nice FDA approval pop? So when will it happen? Some digging: if you check here, you can see that the FDA is pumping out these approvals. Beckman Coulter was a recent company to get the approval, this Monday on June 29, to deliver 30MM tests a month. If you check back on their press releases, they were chirping about this in late April. So this process for them took ~2 months. Going back to AXDX's last conference call (May 8), we can read between the lines:
We recently filed for FDA emergency use authorization for our Pheno respiratory test kit, positioning its benefits for ventilated COVID-19 patients. If approved, this authorization will provide accelerate an avenue to reengage prospective and current customers, obtain useful analytical and clinical data on this new test and help some affected patients.
And in the Q+A:
We have an EUA submitted, as I mentioned, for IgG and IgM combo test. We're also going to be submitting an EUA for individual tests for both IgG and IgM over the next couple of days. The FDA has already come back to us with a few pieces of data that we need to follow up on which is pretty standard. And we're working on that now. And in addition to that, I would say that we are submitting for a 510(k) for the MS-FAST instrument, and we're working on that currently as well with the consultant. Accelerate is the authorized legal agent for BioCheck. And so we're basically spearheading all of the dialogue between the FDA and this opportunity which is a good thing because of the vast experience we have with the FDA already. And so our expectation is, again I guess to be clear, there's been no setback at all relative to our submission. And the new guidance that has come out. And then the last thing I would say is the performance data that we have already submitted with the FDA is excellent data. And it already meets the requirements that they have called out. Our sensitivity and specificity for both the IgG and IgM test or are both very solid. And again, we're continuing to work with the FDA and hope to hear some positive outcomes here over the next couple of weeks.
By the looks of it, from the statements and how press released line up, AXDX was also writing press releases in April about this, they applied to the FDA in late April or early May. Given that Beckman Coulter's process took about 2 months... I think we could be very very close to an announcement, and I'd certainly expect it before 7/17 (cough - calls - cough). [I checked a few other EUA timelines, and ~2 months is about right] That's it. What else do you need? Go buy some AXDX because:
Experienced investor with an awesome track record of winning as a shareholder (and fighting for shareholder value) recently showed showing extreme confidence in the company ($25MM buy)
They are gonna get $ from COVID testing revenues incoming which were not expected in their business plans at all (and this is a relatively low rev company, so the boost will look great)
EUA for the tests < 2 weeks away from being announced - we have evidence from other applications that it should be any time now
Besides all that, everything on track with their normal core business and it shouldn't be much affected by COVD
What's not to like? My positions Jacked to the tits on 10, 12.5, 15, 17.5, and 20 calls expiring in July, Aug, and Nov. Probably $25k across those. Then another $25k or so of shares. I think I'm just over $50k invested.
News Heading into Thursday July 23rd 2020 NOTE: PLEASE DO NOT YOLO THE VARIOUS TICKERS WITHOUT DOING RESEARCH. THE TIME STAMPS ON THE FOLLOWING ARTICLES MAY BE LATER THAN OTHERS ON THE WEB. THE CREATOR OF THIS THREAD COMPILED THE FOLLOWING IN A QUICK MANNER AND DOES NOT ATTEST TO THE VERACITY OF THE INFORMATION BELOW. YOU ARE RESPONSIBLE FOR VETTING YOUR OWN SOURCES AND DOING YOUR OWN DD.
Senate Republicans, White House near agreement on coronavirus relief package
CNTG ($12.15) CENTOGENE Announces Convenient At-Home Coronavirus Test Solution Now Available in Germany on Online Marketplace
BIOL ($0.45) BIOLASE Announces Closing Of Oversubscribed Rights Offering
INUV ($0.57) Inuvo Announces Proposed Public Offering of Common Stock
DRIO ($7.25) reported 8 new insider (buys) trades to the SEC
ALGN%20today%20announced,for%20Invisalign%20and%20iTero%20doctors.&amp;amp;amp;amp;amp;amp;amp;text=The%20goal%20of%20ADAPT%20is,Invisalign%20doctors%20and%20their%20staff) Align Technology Launches the Align Digital and Practice Transformation (ADAPT) Program for Invisalign and iTero Doctors Globally
Montage Resources Divesting Wellhead Gathering Infrastructure for $25 Million, Announces Preliminary Second Quarter 2020 Production Performance, Lowers Full Year 2020 Capital Spending Guidance. Montage Resources trims full-year capex forecast (MR)
You can subscribe to the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily 4:00 AM Pre Market Brief in this sub. Updated as of 4:00 AM EST ----------------------------------------------- Stock Futures:
News Heading into Wednesday July 22nd 2020 NOTE: I USUALLY (TRY TO) POST MANY OF THE MOST PROMISING, DRAMATIC, OR BAD NEWS OVERNIGHT STORIES THAT ARE LIKELY IMPORTANT TO THE MEMBERS OF THIS SUB AT THE TOP OF THIS LIST. PLEASE DO NOT YOLO THE VARIOUS TICKERS WITHOUT DOING RESEARCH. THE TIME STAMPS ON THESE MAY BE LATER THAN OTHERS ON THE WEB.
Robinhood Cancels U.K. Launch Amid U.S. Outages, Controversy
OTLK ($1.55) reported 5 new insider trades to the SEC: 125,000 shares acquired by Huang Andong (Director), 135,000 shares acquired by Haddadin Yezan Munther (Director), 210,000 shares acquired by Hilzinger Kurt J (Director), 125,000 shares acquired by Gangolli Julian S (Director), 450,000 shares acquired by Kenyon Lawrence A (CEO, Pres, CFO, Treas l Secy), 210,000 shares acquired by Thurman Randy H (Director) VERIFY HERE
AUPH Aurinia Announces U.S. Food and Drug Administration Acceptance of the Filing of New Drug Application and Priority Review for Voclosporin for the Treatment of Lupus Nephritis
Fluor Awarded Front-End Engineering and Design Contract for California Resources Corporation Carbon Capture Project (FLR, CRC)
OPCHOption Care Health Announces Pricing of Offering of 18,000,000 Shares of Common Stock
CRBP After 6 Years Corbus Shareholders Face The Ultimate Milestone: The Imminent Release Of Lenabasum's Phase 3 Data (Source: Seeking Alpha)
Two Harbors Announces Termination of Management Agreement (TWO)
IAG Canada's Iamgold restarts Suriname mine after coronavirus halted operations
VSE Aviation Announces Distribution Agreement with Honeywell Aerospace
BSX FDA OKs new generation Boston Scientific heart pacing devices
Golden Minerals Increases Previously Announced Bought Deal of Common Stock to $7.5 Million (AUMN)
Sirius XM (NASDAQ:SIRI) PT Raised to $7.50 at Deutsche Bank (SIRI)
NAVI Form 8-K: RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On July 21, 2020, Navient issued an informational press release announcing its financial results for the quarter ended June 30, 2020 were..
Summit Materials (SUM) Beats Q2 Earnings and Revenue Estimates (EPS beat by 117.69%).
DBD Diebold Nixdorf Delivers Next-Generation Financial Journeys To BankDhofar's Customers
AMC Lenders Allege Default With Company Debt Deal on the Horizon (C, EV, ARES, APO, MC).
FOX News Digital Network Delivers Highest-rated Quarter Ever in Key Performance Metrics Including Total Multiplatform Views and Total Multiplatform Minutes (FOX)
NBN Northeast Bank Announces Share Repurchase Program
GVA Granite Featured on 2020 Top Solar Contractors List
DPZ Dash Brands Ltd. Announces Investment by Domino’s Pizza
QuickLogic Corporation Announces Partial Exercise of Over-Allotment Option Related to Public Offering of Common Stock (QUIK)
Q and K Announces Acquisition and Related Financing (QK)
Ohio House Speaker, 4 Others Charged in $60 Million Nuclear Bailout Bribery Case (FE, EXC)
FirstEnergy Shares Plunge After Ohio Bribery Scandal Is Announced (FE)
COF Capital One posts Q2 loss on higher loss provision
Walker &amp;amp;amp; Dunlop Taps Industry Veteran to Lead Growing Multifamily Appraisal Business (WD)
AHT Form 8-K: REGULATION FD DISCLOSURE. In April 2018, Ashford Hospitality Trust refinanced the Highland Pool loan, which currently consists of a mortgage loan agreement 2020, and five one-year exten..
HTLD Heartland Express Announces Pricing of Secondary Public Offering of Common Stock
USNA Form 8-K: Results of Operations and Financial Condition. On July 21, 2020, USANA Health Sciences issued a press release announcing its financial results for the second quarter ended June 27, 202..
ZPAS Form 8-K: Entry into a Material Definitive Agreement Zoompass Holdings entered into that certain Intellectual Property Rights Purchase and Transfer Agreement by and among the Company, and Moxie ..
SoftBank Reportedly Seeks $1 Billion for ARM’s Treasure Data Unit
Ollie’s Bargain Outlet Holdings, Inc. Provides Second Quarter Outlook (OLLI)
Bed Bath &amp;amp;amp; Beyond and 1800flowers . com settle long dispute over web property (BBBY, FLWS)
TNXP Tonix Pharmaceuticals Holding Corp. Announces Rescheduling of Special Meeting of Stockholders
FFIC Flushing Financial Corporation Reports Record Net Interest Income; Net Interest Margin Expansion Driven by Ability to Significantly Reduce Funding Costs
United Airlines improves quarterly cash burn but employee demand for early exits weak (UAL, DAL, LUV, AAL)
AUPH Aurinia Announces U.S. Food and Drug Administration Acceptance of the Filing of New Drug Application and Priority Review for Voclosporin for the Treatment of Lupus Nephritis
TXN Texas Instruments Stock Is Rising Because Earnings Crushed Expectations
TXN Texas Instruments sees strong quarter as work-from-home boosts chip demand
BIOA BioArctic's Partner Eisai to Present Update on the Development of BAN2401 at Alzheimer's Association International Conference 2020
DHR Beckman Coulter Wins SelectScience Awards for Best New Clinical Instrumentation and Customer Service of the Year
Kroger Reaches Tentative Agreement with UFCW Local Unions to Improve Security and Stability of Future Pension Benefits for Associates (KR)
CCRN Form 8-K: Incorporated by reference is a press release issued by the Company on July 21, 2020 and attached hereto as Exhibit 99.1. This information is being furnished under Item 8.01 and shall n..
Golden Minerals Announces $6.5 Million Bought Deal Offering (AUMN)
The Dow Jones Industrial Average Gained Because Investors Hated on Tech Again (AAPL, MSFT, AMZN, GOOG, FB)
Stock in iRobot Is Sagging Despite Earnings That Solidly Beat Expectations (IRBT)
GPX reported 4 new insider trades to the SEC: 40,000 shares acquired by Dugan Michael R (EVP &amp;amp;amp; Chief Financial Officer), 25,000 shares acquired by Duquette Donald R (Executive Vice President), 85,000 shares acquired by Stedham Adam H (CEO &amp;amp;amp; President), 40,000 shares acquired by Becker Russell L. (EVP, Chief Sales Officer), reported in a new form 4 filed with the SEC VERIFY HERE
U.K. Grants%20%2D%2D%20The%20U.K.%20government,engines%20and%20transmissions%20from%20Britain) Ford $640 Million Loan Guarantee to Preserve Exports (F)
Xi’s Radical Stock Market Reforms Shield China Firms From U.S. (BABA, BIDU, WB)
SNAP Snap’s Missed User Target Shows Challenge Predicting Growth
United warns travel demand will languish until COVID-19 vaccine (UAL, LUV, AAL)
Snap’s Earnings Include a Warning for Investors. What to Know. (SNAP, GOOG, FB)
SERV CORRECTING and REPLACING ServiceMaster Launches New Anti-Microbial Service
LMT New Lockheed CEO says 5G networks key to military vehicle autonomy.
Kewaunee Scientific Accelerates Growth in The Middle East &amp;amp;amp; Africa Market by establishing a Local Entity in Saudi Arabia (KEQW).
Air Force Reveals Cold Facts on New Arctic Strategy (JYNT)
Jamf Announces Upsize and Pricing of its Initial Public Offering (JAMF)
Fannie Mae Draws a Zero-Dollar Price Target Due to Dilution (FMCC, FNMA)
Tesla Cybertruck And SpaceX Starship To Use A New Alloy, Musk Reveals (TSLA, APPL)
Apple commits to being '100 per cent carbon neutral' across its entire business including its supply chain by 2030
Twitter cracking down on thousands of QAnon conspiracy theory accounts
ACN Accenture Helps Zydus Wellness Build an Enterprise Platform to Drive Digital Transformation
BENFranklin Templeton, Gallup Launch Tracking Survey to Monitor Americans' Resumption of Pre-COVID-19 Behaviors
Kiniksa Pharma prices stock offering at $21 (KNSA)
Peri Perion to Acquire Pub Ocean, an Innovative Publisher Technology Platform, for up to $22 Million
Comcast’s Peacock Streaming Service Saw 1.5M App Downloads In 6 Days Of Launch: Report
GOOG Google Women Seek Class-Action Status for Gender-Pay Lawsuit
QIWI Russian online payment provider QIWI cancels SPO, sources say
I’m still learning and this is my first DD write up so I’d love feedback. I’ve been trying to find companies that haven’t bounced back from the COVID crash and remain “discounted.” In this search I’ve come across Tapestry Inc. Tapestry provides luxury accessories and lifestyle brands in the United States, Canada, Europe, and Asia. Their brands include Coach, Kate Spade, and Stuart Weitzman. They sell lots of direct to consumer, high margin items which they have adapted well to e-commerce. Their brands have luxury name recognition and are getting big in China. They’ve had some recent turmoil as the CEO resigned in late July. But the company is expected to introduce new leadership soon, which could be a catalyst for a move back towards historical valuation in the mid 20s. The stock was recently upgraded to a buy by Goldman Sachs. Their earnings were reported this morning and they narrowly beat expectations for the quarter, but are still logging a $652 million loss for the year; the stock jumped 2.9% in premarket on this news. The sector as a whole is lagging and some of their numbers reflect that, but if you’re looking for companies that haven’t recovered from the COVID crash this could be a good one to check out. Fundamentals
Return on Invested Capital (ROIC): 8.22%
Debt to Equity Ratio: 1.36
Quick Ratio: 1.12
Current Ratio: 1.87
Project next year growth: 140.90%
Projected 5 Year Growth : -9.24%
OK, so some of these aren’t great, but the company has a history of very good numbers in normal times. If you look at their 10 year median on Gurufocus you’ll see they are a better run company than these pandemic-influenced numbers show today. Plus, you can't expect to check every single box. Value
PE Ratio: 9.33
PEG Ratio: 1.01
Price target upside: 30.1%
Consensus price target: $20.21
200 day moving average: $19.69
Again, these aren't stellar but they are pretty good for this kind of company right now. They're trading at a discount on both the consensus price target and 200 day moving average. As the recovery happens and middle class folks can start spending on luxuries like brand-name purses again they should recover nicely. Until then, Tapestry can limp along with upper class folks - who aren't really hurting during all of this - continuing to buy their fancy sunglasses and scarves. Edit: I should have said that I'm not sold enough to have bought yet. But I compiled all this research and figured it was worth sharing.
The China Securities Regulatory Commission (CSRC), China’s top watchdog, on Wednesday warned investors about financial institutions that are illegally financing margin trading, a major culprit Read more about China margin trading balance balloons to record high on Business Standard. Chinese investors' borrowing to trade on the country's stock markets -- the force behind their extraordinary recent performance -- has surpassed 2 trillion yuan for the first time, figures showed today, highlighting the risks in the rally. Data Interactive Brokers LLC, which operates an electronic trading platform for a range of securities including stocks, bonds, and futures, told clients last week that some accounts holding concentrated positions of China-domiciled companies with a small market capitalization will be subject to higher margin requirements. To be sure, the growth in margin trading has triggered comparisons with the chaotic burst of the 2015 bubble, given brokers will have a better ability to lend to investors to buy stocks. However, at 1.4 trillion yuan as of Monday, leverage is around half the level of its 2015 peak. Chinese shares plunged about 8 percent Monday after the country's securities regulator imposed margin trading curbs on several major brokerages, a sign authorities are worried about the market's big g
China Panic : Today (August 23, 2020) US Military Fight ...
U.S. President Donald Trump says China has lost 15 to 20 trillion U.S. dollars in the trade war, a wildly inaccurate number as it exceeds China's total GDP. Yet despite Trump's claims, how much ... Hi GetTraders, In this Video we will see how Pledging of Shares can be used to overcome the new rules of SEBI. SEBI new rules are discussed in our previous Video. So watch that if you have not ... US Military Fight China in the South China Sea China’s claims of South China Sea (SCS) ownership are illegal, but Beijing’s hyper-nationalistic officials inc... A tentative trade deal has been reportedly reached between U.S. and China. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact ... Thor Equities CEO Joe Sitt on the increasing U.S. trade tensions with China.