What's Difference between margin trading and futures

Futures vs margin

What's the difference between using margin trading vs futures trading. Is it you can get more leverage with futures trading? Both offer 5x on btc
submitted by lost_civilizations to binance [link] [comments]

trading on margin vs futures, derivatives, etc

To followup on previous post:
https://www.reddit.com/Bitcoin/comments/g09cuk/good_exchange_to_short_btc_for_us_citizens/?utm_source=share&utm_medium=web2x
I looked at Phemex, Bybit, or Deribit but I don't know anything about trading derivatives. And I don't want to trade bitcoin.
My goal is buy more tezos with borrowed money. Kraken is too expensive. Binance forbids US residents and they do KYC even if they say they don't for small amount. Kucoin does not look reliable but at least 6 times cheaper in margin interest compared to Kraken. Kraken charges margin interest every 4 hours. Kucoin charges the same amount in 1 day. I don't want to use coinbase because they report to IRS and is a tax nightmare for me.
Questions:
  1. what exchanges out there let you trade altcoins with margin for someone living in US besides kraken, coinbase?
  2. what do you feel about trading futures, derivatives? I know nothing about them.
submitted by diamente1 to Bitcoin [link] [comments]

Fee Comparison Trading Bitcoin on CFD sites vs. Spot-Margin Exchanges vs. Futures Exchanges

When you want to speculate on changes in bitcoin price, there's three main types of places you can achieve this on:
We go into deep detail about these differences, as well as specific exchange cases, if you would like to learn more go here: http://www.bitcoinfuturesguide.com/bitcoin-blog/the-bid-ask-spread-margin-interest-as-hidden-fees-comparison-of-cfd-sites-vs-spot-margin-exchanges-vs-bitcoin-futures-sites
Below you can find a table comparing the sites, types, and fees on bid/ask spread and margin. Trade execution fees are excluded for space considerations
Exchange Type Bid-Ask Spread (Nominal) Daily Leverage Financing Charge (Nominal) Bid-Ask Spread (Max Leverage, as % of Initial Margin) Daily Charge (Max Leverage, as % of Initial Margin) Socialised Losses?
1Broker (5x) CFD 0.2% 0.1-0.15% 1% 0.5-0.75% No
SimpleFX (10x) CFD 0.23% 0.175% 2.3% 1.75% No
WhaleClub (10x) CFD 0.2-0.5% 0.2% 1-2.5% 1% No
Bitfinex (3.3x) Spot/Margin 0.01-0.1% 0.01-0.08% (Varies, market based) 0.03-0.3% 0.03%-0.25% No
Kraken (5x) Spot/Margin 0.05-0.2% 0.1% (Exchange-provided, not market-based) 0.25-1% 0.5% No
OKCoin.com (20x) Futures 0.01-0.05% (Varies, Market based) 0% 0.2-1% 0% Yes
BitMEX (100x) Futures 0.02-0.25% (Depends on contract/liquidity) 0% 2-25% 0% Yes
CryptoFacilities (6x) Futures 0.05-0.8% (Depends on contract/liquidity) 0% 0.3-4.8% 0% No
TL;DR Liquid bitcoin futures exchanges offer the lowest cost choice to do leveraged bitcoin trading, and have multiple fee discount advantages over Spot Margin exchanges and especially CFD sites. However, socialised losses ("DPE") are the downside: they are a form of hidden fee themselves against profitable traders who bear the load of system losses.
Edit: Fixed SimpleFX max leverage for BTC to 10x not 25x. Also included a warning about socialised losses for trading bitcoin futures at high leverage.
submitted by Bitcoin_Markets to BitcoinMarkets [link] [comments]

Trading leveraged futures vs trading on margin.

First off is there any other site than btc.sx that actually traded bitcoins on an exchange on margin? Or are the rest trading futures?
Also what are the advantages and disadvantages of each? Do they impact the market differently?
submitted by germican to BitcoinMarkets [link] [comments]

Fee Comparison Trading Bitcoin on CFD sites vs. Spot-Margin Exchanges vs. Futures Exchanges /r/BitcoinMarkets

Fee Comparison Trading Bitcoin on CFD sites vs. Spot-Margin Exchanges vs. Futures Exchanges /BitcoinMarkets submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Fee comparison trading Bitcoin on CFD sites vs Spot-Margin vs. Futures exchanges /forum.bitcoin.com

Fee comparison trading Bitcoin on CFD sites vs Spot-Margin vs. Futures exchanges /forum.bitcoin.com submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Discussion • Fee comparison trading Bitcoin on CFD sites vs Spot-Margin vs. Futures exchanges

submitted by btcforumbot to BtcForum [link] [comments]

$PSTG: PURE STORAGE for them, PURE TENDIES for you

$PSTG: PURE STORAGE for them, PURE TENDIES for you
This is actually my first DD I've ever posted so fuck you and forgive me if this doesn't work out for you.I've been looking at $PSTG for a while now and if my buying power didn't get so fucked from my decision to buy 8/7 UBER puts, I would have been already all over this play.
What had got me looking into Pure Storage was an unusual options activity alert. I've looked into this company before but didn't entirely understand what they do. Now after looking at them again, I'm still not exactly sure wtf they do....BUT I've gotten a better clue. Basically what I got from my research is that these guys fuck with "all-FLASH data storage solutions (enabling cloud solutions and other low-latency applications where tape/disk storage does not meet the needs)."......and ultimately what this all means to me is that these are the motherfuckers making those stupid fast laser money printers with the rocket ships attached. And that's something I'm interested in.
Now, here is the DailyDick you all degenerates have all been fiending for:
Fundamentally: PureStorage remains one of the few hardware companies in tech that is consistently growing double motherfucking digits, yet remains constantly cucked and neglected by investors (trading at 1.9x EV/Sales).
https://preview.redd.it/ek7ugjsewnf51.png?width=1118&format=png&auto=webp&s=f9c7e72c95e450a105e44223937422d896eeeb21
The 36 Months beta value for PSTG stock is at 1.62. 74% Buy Rating on RH. PSTG has a short float of 7.28% and public float of 243.36M with average trading volume of 3.16M shares. This was trading at around $18 on Wednesday 8/5 when I started writing this and as of right now, it's about $17.33 💸
The company has a market capitalization of ~$4.6 billion. In the last quarter, PSTG reported a ballin'-ass profit of $256.82 million. Pure Storage also saw revenues increase to $367.12 million. IMO, they should rename themselves PURE PROFIT. As of 04-2020, they got the cash monies flowing at $11.32 million . The company’s EBITDA came in at -$62.81 million which compares very fucking well among its dinosaur ass peers like HPE, Dell, IBM and NetApp. Pure Storage keeps taking market share from them old farts while growing the chad-like revenue #s of 33% in F2019, 21% in F2020, and 12% in F1Q21.
Chart of their financial growth since IPO in 2015:
https://preview.redd.it/gwlmy82v4nf51.png?width=640&format=png&auto=webp&s=b6508cd5f641da4086b70d8b8007da034e982fd7
At the end of last quarter, Pure Storage had cash, cash equivalents and marketable securities of $1.274B, compared with $1.299B as of Feb 2, 2020. The total Debt to Equity ratio for PSTG is recording at 0.64 and as of 8/6, Long term Debt to Equity ratio is at 0.64.Earning highlights from last quarter:
  • Revenue $367.1 million, up 12% year-over-year
  • Subscription Services revenue $120.2 million, up 37% year-over-year
  • GAAP gross margin 70.0%; non-GAAP gross margin 71.9%
  • GAAP operating loss $(84.9) million; non-GAAP operating loss $(5.4) million
  • Operating cash flow was $35.1 million, up $28.5 million year-over-year
  • Free cash flow was $11.3 million, up $29.0 million year-over-year
  • Total cash and investments of $1.3 billion
I bolded the Subscription Services Revenue bullet because to me that's a big deal. Pure Storage keeps them coming back with products such as Pure-as-a-service and Cloud Block Store and everybody knows that the recurring revenue model is best model. Big ass enterprises buy storage from vendors such as Pure Storage in the cloud to prevent vendor lock-in by the cloud providers. $$$ >!💰<
What are Pure Storage's other revenue drivers? Well these motherfuckers also have the products to address the growth of Cloud storage as well as the products to drive the growth of on-prem storage. For on-prem data center, Pure sells Flash Array to address block storage workloads (for databases and other mission-critical workloads) and FlashBlade for unstructured or file data workloads. On-prem storage revenue is mainly driven by legacy storage array replacement cycle.
https://preview.redd.it/01su6chrwnf51.png?width=1129&format=png&auto=webp&s=16e6a705f9392291bc0c3932c815802d9101365e
So far, it seems like Pure Storage's obviously passionate and smart as fuck CEO has been spot on with his prediction of the flash storage sector's direction. Also seems like he's not camera shy either. Pure Storage's "Pure-as-a-Service and Cloud Block Store" unified subscription offerings is fo sho gaining momentum it. This shit is catching on with enterprises, both big and small. COVID-19 increased the acceleration of our digital transformation and the subsequent shift to the cloud. This increased demand in data-centers is going to drastically help Pure Storage's future top and bottom line. To top it off, NAND prices are recovering! (inferred from MU earnings). I expect Pure Storage to get some relief on the pricing front because of this which obviously in turn should improve revenues.
PSTG's numbers look pretty good to me so far but are they a good company overall? Even when scalping and trading, I don't like to fuck with overall shitty companies so I always check for basic things like customer satisfaction, analyst ratings/targets, broad-view industry trends, and hedge fund positioning.. that sort of thing.Pure Storage stands out in all of these fields for me.
https://preview.redd.it/4n0e5nve5of51.png?width=373&format=png&auto=webp&s=495416bb6f5a2dab77f3ac483ca4d9510b39037c
Customers like Dominos Pizza and many others all seem to be happy AF with no issues. I can hardly even find a negative review online. Their products seems to be universally applauded. Gartner and other third party independent analysts also consider Pure Storage's product line-up some of the best in the industry.
The industry average for this sector is a piss poor 65.Pure Storage has a 2020 Net Promoter Score of 86
https://preview.redd.it/3w51io8yvmf51.png?width=698&format=png&auto=webp&s=4f7d06825d0ad9d126216e5069af2f9c3636f86a
Enterprises are upgrading their existing storage infrastructure with newer and more modern data arrays, based on NAND flash. They do this because they're forced to keep up with the increasing speed of business inter-connectivity. This shit is the 5g revolution sort to speak of the corporate business world. Storage demands and needs aren't changing because of the pandemic and isn't changing in the future. The newer storage arrays are smaller, consume less power, are less noisy and do not generate excess heat in the data center and hence do not need to be cooled like the fat fucks at IBM need to be. Flash storage arrays in general are cheaper to operate and are extremely fast, speeding up applications. Pure Storage by all accounts makes the best storage arrays in the industry and continues to grow faster than the old school storage vendors like bitchass NetApp, Dell, HPE and IBM.
Pure Storage’s market share was 12.7% in C1Q20 and was up from 10.1% in the prior year - LIKE A PROPER HIGH GROWTH COMPANY.HPE, NetApp and IBM, like the losers they are, lost market share.According to blocksandfiles.com, AFA vendor market share sizes and shifts are paraphrased below:
  • “Dell EMC – 34.8% (calculated $766m) vs. 33.7% a year ago
  • NetApp – 19.3% at $425m vs. 26.7% a year ago
  • Pure Storage – 12.7% at calculated $279.7m vs. 10.1% a year ago
  • HPE – 8.4% – $185m vs. 10% a year ago"
Pure has been gaining marketshare almost every year since it began selling storage arrays in 2011. Pure Storage is consistently rated the highest for the completeness of vision as this chart shows:
https://preview.redd.it/5agj17gcgnf51.png?width=428&format=png&auto=webp&s=da9c6389baccab85261d6e0f71b3474e84b90d3c
Hedge Funds are on this like flies on shit.
Alliancebernstein L.P. grew its position in Pure Storage by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 104,390 shares of the technology company’s stock worth $1,786,000 after purchasing an additional 560 shares during the last quarter.
Legal & General Group Plc grew its position in Pure Storage by 0.3% in the 1st quarter. Legal & General Group Plc now owns 258,791 shares of the technology company’s stock worth $3,213,000 after purchasing an additional 753 shares during the last quarter.
Sunbelt Securities Inc. acquired a new stake in Pure Storage in the 4th quarter worth $4,106,000.
CENTRAL TRUST Co grew its position in Pure Storage by 79.8% in the 2nd quarter. CENTRAL TRUST Co now owns 3,226 shares of the technology company’s stock worth $56,000 after purchasing an additional 1,432 shares during the last quarter.
Northwestern Mutual Wealth Management Co. grew its position in Pure Storage by 203.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,312 shares of the technology company’s stock worth $28,000 after purchasing an additional 1,549 shares during the last quarter.
Also, everybody's favorite wall street TSLA bull, Cathie Wood has been busy steadily purchasing big lots of PSTG for her ARK ETF funds for a while now...Even going as far as selling TSLA in order to re-balance!
https://preview.redd.it/zjxuakjosnf51.png?width=1125&format=png&auto=webp&s=f34abdd3b35791eb207d31d72ea0f6fb11beec30
https://preview.redd.it/bkf1uzb2tmf51.png?width=2048&format=png&auto=webp&s=a9870ec41cfb4ce468ba61d83f2f8a4151927a4e
Hedge funds and other institutional investors own 78.93% of the company’s stock and it seems like more are piling in every day.
Tons of active options, too -Pretty good volume lately with the spreads looking decent.
Over 5,000 September $20 Calls added just on 8/3 alone 🤔
Order flow helps my thesis here, showing a recent influx of big dick money moving into PSTG.
https://preview.redd.it/liychuhblnf51.png?width=592&format=png&auto=webp&s=ca6a60d54a9eb8bd9e32e0ef70992b8282c29e70
Google Search Trends showing uptick in interest: SPY420 baby
https://preview.redd.it/joo0b9wxinf51.png?width=1710&format=png&auto=webp&s=24eb18f18be18b9b771ff1911c09c5479ba2f1a0
Robinhood Trends showing the YOLO is trending up
https://preview.redd.it/4gk5yjdxmnf51.png?width=1538&format=png&auto=webp&s=76c4b114c133c493c84386d1705f85229f5f7d44
Increased job postings on LinkedIn all across the globe, further supporting the idea that Pure Cloud Adoption is looking strong.
https://preview.redd.it/5zenasprznf51.png?width=1092&format=png&auto=webp&s=a492e227e2208fe89925c9b7fe365634f7ffde6a
Technically: This broke out through down-trend line a couple of days ago and as of right now looks to be pretty oversold. Looks like its found support at the 50 DMA and zooming out , the chart just looks like to me that it's coiling up for a big breakout.
https://preview.redd.it/wxtz8minmnf51.png?width=1208&format=png&auto=webp&s=7baabbd3e8f97dfc8bd0d5bfa512613c2eea4921
These fucking shorts are going to get squeezed out hard. Potential short squeeze coming?
https://preview.redd.it/lh8lp08funf51.png?width=1533&format=png&auto=webp&s=921b6684369e25e94f00ed96a404458028e540c8
**So what's the play?**I'd like to see RSI break out of the downtrend and the divergence between price & momentum ends at some point. If/when RSI breaks out, I want to play this thing aggressively with bullish call calendar spreads....THAT IS IF I HAD SOME FUCKING BUYING POWER (FUCK YOU UBER)....Soooo really what I'll be doing is asking my wife's boyfriend sometime this weekend for a loan. That way on Monday I can buy some $PSTG 9/18 $17.5 & $20 calls at open and YOLO my saddness away for a week.God forbid, I might even buy of those things called "shares" I heard about from /investing if at all possible because in all honesty, I really do feel like this is a good company to hold in a long term growth portfolio.Pure Storage is NOT looking like your average KODK prostitute to flip or scalp and actually more like someone you'd bring home to your dads.
EARNING DATE: 8/25
Pure Storage has a history of beating estimates and rocketing up. Over the last 20 quarters, the company beat revenue 17 quarters by an average of $4.9 million or about 3%. Out of the three times that the company missed on revenues, once was due to supply fuck-ups at one of its distributors and the other two times were due to Average Selling Prices declining faster than the company forecasted. Higher-than-expected ASP declines (due to NAND oversupply) is one of the risks of the storage business...but then again NAND prices look to be recovering now if MU's earning isn't fucking with us and telling us fibs. Big money is forecasting revenue to be around $396 million, essentially flat year-over-year, and EPS of a disrespectful ass penny....Fuck that conservative ass guidance! I think PSTG is going to blow that shit out the water. This chart shows Pure Storage’s past performance and we all know for sure that past performance = future results.....right?
https://preview.redd.it/4xflpezdhnf51.png?width=623&format=png&auto=webp&s=c1660a80a1a1821ef8098791a8cee632e25f1445
My Prediction: After ER8/25, Pure Storage will hit new 52 week highs.$20.50 - $23.50 is my guess. Bold prediction, $27.50+ by the EOY and $50 by December 2021.
tldr: PSTG 9/18 $17.5 & $20 calls

edit: for those that bought into this, I'm in this with you!
Let's pray for a rebound next week. also, Fuck Cisco!
submitted by OnYourSide to wallstreetbets [link] [comments]

Rey Rivera, Foul Play, Murder, note is a code

Not claiming to be an expert on anything.
My opinion: Rey Rivera did not commit suicide, foul play was involved, and his note may be a code trying to implicate those who may be involved.
I believe there is much more circumstantial and direct evidence that points towards a homicide rather than a suicide. I try to give credit where it is due and if I am repeating things that have already been posted, I apologize.
Please, since it has already been discussed so much in many other posts, if you are going to insist on speculating about his mental state on this post too, include a diagnostic criteria for the condition/diagnosis you are claiming and evidence of how Rey fits each criteria. You cannot make conclusions on anyone's mental state simply based off reading a book, articles and Netflix. Either Stansberry’s crisis management team has people on Reddit, or a very large amount of people believe they became overnight experts in mental health. Neither of these will hold up in court. Unless you are a psychiatrist or psychologist, you are not qualified to make assumptions about his mental health that would be permissible as evidence in a court of law so let's leave that to them.
I believe there were real reasons behind Rey’s paranoia, and I believe the note is code for the corruption he was dragged into. The note has been hypothesized to be a coded message or a tone reel for a movie, there is no evidence to prove it was or wasn't that, vs. being considered ramblings during a psychotic break as others have speculated (there is no direct evidence to support this). There is also no evidence to prove that it wasn’t planted there, considering he had two attempted break-ins at his house right before his death and the house was left vacant for hours after his death until Allison returned back to Baltimore. My opinion is that Rey wrote it as a coded message in the form of a tone reel since he was a writer and filmmaker first and I’ll state what I believe to be proof of this below.
Facts :
  1. He had 2 recent alarms triggered at his house the days before his death which could have been possible break-in attempts
  2. Someone form the Stansberry & Associates building was the last person reported to talk to him before his death. He worked for a very shady company (some evidence at the bottom of this post), that placed a call to him around 6:30pm the night he went missing, causing him to run out of his house.
Both of the facts above warranted a better investigation by the Baltimore Police Department that did not happen. The last reported person to talk to a victim is often the first POI to investigative authorities. to him was someone that called him around 6:30 from the Stansberry and Associates building.
  1. Before this, the last reported person to talk to him at 4pm stated nothing out of the usual with Rey AND that he was intent on renting video equipment to complete a work deadline for that very weekend. This does not sound like someone planning to commit suicide to me. https://www.reddit.com/UnsolvedMysteries/comments/hkdsmo/apparently_i_was_one_of_the_last_people_to_talk/ This man was cited in news articles and talked to the police right after Rey's death too.
  2. Rey’s death is currently classified as a homicide
  3. Stansberry and Associates either put a gag order on the company (and a recent memo released stating they didnt is a lie) OR all Stansberry and Agora employees were instructed to not talk to anyone about Rey’s death as proven and reported by law enforcement, many reporters, family members, and the author of the book An Unexplained Death when they received that answer while attempting to reach out to the company and to Porter.
  4. Stansberry & Associates hired a Crisis management team for the firm 6 months ago after their cease and desist letter aimed at stopping the airing of the Netflix documentary regarding Rey's death did not work.
  5. There were 0 witnesses that saw Rey enter or in the building previously known as the Belvedere that night, which law enforcement reported he frequented. You would have thought at least one employee or concierge for the condominium would have seen him come in if he did jump from there, considering it is part of their job to greet and provide assistance to those entering.
? looking to confirm: There were no signs of Rey's shirt being torn when his body was found.
  1. The coroner also reported the cause of death as undetermined and could not conclude it was a suicide. We should start another post to discuss the autopsy results in detail.
  2. The FBI report on the note states that overall themes and language are “consistent with someone who suffers from a delusional disorder” It describes delusional disorders, how they are relatively rare affecting 24-30 out of every 100,000 people and that the onset is relatively late with average age being 40-49. It does not appear that they looked into connections it had to any code, or that they knew what a tone reel was.
The report also states “BAU is unable to confirm the identity of the author of the letter without further analysis.” There is then a full page of “Investigative Suggestions" for the BPD to investigate: (There is also question as to what, if any, from that list of suggestions was actually investigated after the report.)
* BAU suggests [redacted] several meetings/interviews. [full sentence redacted]. The purpose of these interviews to develop additional leads…[>2 lines redacted]. As mentioned by BPD, [redacted]. These interviews should take place in a non-threatening environment. [2 lines redacted] In an effort to generate further leads, investigators should carefully review [2 lines redacted]. Rivera’s family members (brothers, sisters, parents) should also be re-interviewed regarding his health. (per the Netflix documentary, we know the family does not believe he was suffering from mental delusions.)
* BAU recommends [>3 lines redacted]. FBI Baltimore may be able to assist BPD…[>3 lines redacted].* BAU recommends determining [redacted].* BAU recommends requesting forensic testing [redacted]. BAU understands that [redacted] during the investigation [> 2 lines redacted]. BPD should also determine [redacted]. * BAU recommends requesting forensic analysis of the computer printer where the letter was found. [>3 lines redacted]. FBI Baltimore’s Computer Analysis Response Team can assist with the analysis of Rivera’s computer [>3 lines redacted]. * BAU offered to [redacted]. It is recommended that BPD provide BAU with [redacted]. * BAU recommends that BPD [>2lines redacted].
-------------
Things being used to defend this deteriorating mental health theory are:
  1. his wife noticed him paranoid and stressed the weeks leading up to his death.
  2. The note that he allegedly left - more details below at 2a
  1. Recent Researching of Freemasons
1a. paranoia - Rey had real reasons behind his paranoia. Rey Rivera was working for a shady financial firm and making millions of dollars. These firms are notorious for having connections to powerful underground criminals. He was hired by this firm to “clean up their image” and write the Rebound Report one year after the SEC had filed a complaint against Stansberry & Associates for giving false advice on stocks that later tanked. So, a filmmaker with no finance experience was hired to write about suggesting cheap stocks that were supposedly going to make a quick turnaround. People were angry and had lost millions of dollars after the SEC filing. There is an article about the exact details below. Additionally, Rey's friend who also worked for Agora - Hickling- had died just a couple months before Rey’s death allegedly in a car accident in Zambia. Rey had two tripped alarms in his house (suggesting attempted break-ins) in the nights leading up to his death. He had valid reasons to be paranoid. There were valid reasons for people to be after him, and there were valid reasons for him to be concerned and protective of his wife as many times these criminals will come after the person closest to them instead of the individual themself.
2a. The note- Many film creators have said the note looks not similar, but exactly like a tone reel. Also hypothesized are that it could have been a code for something or that it could have also been planted there, since there were 2 tripped alarms at his house. Many who have attempted to piece together the note from screenshots also point out that there are multiple versions of it, suggesting that if he did write it, it was written over a longer period of time than a day. In my opinion, all these theories have the same validity/amount of evidence as the delusional theory.
Some theories and opinions on the note: many made by Reddit users under the google doc that TrueCrime Pyrex started (https://docs.google.com/document/d/1CUynVxK37ReWqJ2r3jyue0hUMh36GfiRAzYXG-Q8IE8/edit#)
According to https://www.investopedia.com/financial-edge/0911/how-september-11-affected-the-u.s.-stock-market.aspx):Some sectors, however, prospered as a result of the attacks. Certain technology companies, as well as defense and weaponry contractors, saw prices for their shares increase substantially... Stock prices also spiked upward for communications and pharmaceutical firms. On the nation's options exchanges, including the Chicago Board Options Exchange (the world's largest), put and call volume increased correspondingly. Put options, which allow an investor to profit if a specific stock declines in price, were purchased in large numbers on airline, banking, and insurance shares.

3a. Freemasons. The act alone of researching Freemasons does not indicate a psychotic state. In the book, An Unexplained Death, Mikita Brottman writes:
"Stein learns from a Master Mason that Fred Bealefield, who was the chief of detectives during the Rivera case and later police commissioner, is also a Master Mason. This news does not surprise me. Many policemen are members of the Freemasons; it does not make either the police of the Freemasons especially sinister. I often invite Master Masons to speak to my classes about the history of their organization, which I have come to see as a benevolent fraternal charity with an archaic structure and hierarchy, not a malevolent force running the universe, or even the city. In other words, I think the Masonic angle is a red herring. I believe Rey's interest in the group was part of his research for something new he was writing."
----
Per those close to Rey, their theory is that has something to do with the Rebound Report, and the fact that the company had just come out of being fined 1.x millions dollars for misleading investors. (Also The Rebound Report may not have been accurate?) I believe looking into these reports would provide further information. Also mentioned, If Rey were to go meet someone at the condominium he allegedly jumped from, he would not have worn flip-flops and track pants. He was going to go see someone he knew.
----
Circumstantial and direct indicators of foul play/cover-up:
- In An Unexplained Death, Mikita Brottman writes:
'An anonymous comment on an article about the case by Stephen Janis posted at the Baltimore Examiner website puts this theory in a nutshell. "Rey was a very inquisitive man, a truth-seeker. He had information that threatened something larger than himself and was murdered for it." '
'Others have suggested that Rey's death may have been connected to developments in Nicaragua, where Agora owns a large stretch of coastline. Those who have studied the case often refer to "Nicaragua" in cryptic terms.'
"Bizarre is also how Allison Rivera describe the obstacles she encountered trying to help police search for clues. Confident that her husband’s death was foul play, she hired a private detective who accompanied her to The Belvedere to review the video surveillance. But Allison soon discovered that the surveillance system malfunctioned on the day her husband disappeared. “Somebody put 'protect' on the day of the 15th that consumed about 85 percent of the hard drive,” she recalled learning. “Somebody hit 'protect' on the system; there is button on the key board in the concierge areas, and there is a computer in the back.” The timing of the erasure is troubling, Allison said.“If it was on May 1, that's an accident but if it's on May 15, that is a totally different story.”An employee of the former hotel who has knowledge of the camera system but asked to remain anonymous could not confirm Allison's allegations. The employee said that police had confiscated the hard drives."
-------------------------------------------------------
Below here are a few news article links and old posts from disgruntled investors regarding the shady practices of Agora and possible motives for killing. Many article links have since been removed from the internet. Please bear in mind I am not citing below things as facts, although many have since proven to be. I find it interesting and possibly relevant to Rey Rivera's death
From the desk of Porter Stansberry:
When my best friend, Rey Rivera, disappeared last year, we had to find his car (and then his .... Porter Stansberry Baltimore, Maryland December 21, 2006 ...
Porter Comments:'The Baltimore sheriff is after me…'-Porter Stansberry

If I ever had any doubts whatsoever about your corruption and cover up and disinformation propaganda re 9/11…your promotion of Agora Inc.'s stock fraudster and murder suspect,(in the case of his 'friend' Rey Rivera of Agora Inc Rebound Report fraud,etc.),has ended all that. Fannie Mae and Freddie Mac were also part of Agora Inc.'s fraud that helped send the housing market and government subsidized housing loans crashing as well.Also when it did ex SEC Chairman Christopher 'WMDS' Cox lied about Fannie Mae and Freddie Mac shares being 'naked shorted',a term that can be tracked back to Agora Inc.'s and National Taxpayers Union founder James Dale Davidson himself. Both Stansberry, Davidson and Agora scumbag Bill Bonner have a UK connection and their association with with the U.K.'s Lord or Lard William Rees-Mogg guarantees a Rothschild connection…I no longer have any doubt even an idiot such as yourself, with your far right women's rights denier Ron Paul connections, that you know you are in cahoots with the CIA because his and your pals at Agora Inc have CIA and George Tenet connections…Sincerely, Tony Ryals
Corrupt SEC attorney Karen Martinez who along with SEC attorney Brent Baker removed all charges against Stansberry and James Dale Davidson regarding their illegal pumps and dumps of biotech penny stock frauds **Endovasc and Genemax in 2003 tries to blame or insinuate the probable murder of Rey Rivera was done by defrauded investors such as myself mno doubt.**And I myself suspect that Stansberry's and Lila Rajiva's invitation to me to visit his office in 2005 was either as a set up or to murder me as well .Shortly after removal of all charges against James Dale Davidson and Porter Stansberry regarding their promotion of worthless Endovasc and Genmax shares Brent Baker 'retired' from his SEC job and was rewarded or bribed by Patrick Byrne of Overstock.com and himself began to openly promote the lie that Overstock shares were like the other penny stocks a victim of 'naked shorting' or naked short selling by some unknown entity. Byrne even claimed it was a or the 'Sith Lord' !
Davidson's NAANSS or National Association Against Naked Short Selling' was disapeared from the internet in 2005 and replaced with NCANS or National Coalition Against Naked Shorting with a number of lieing websites claiming a huge amount of stock frauds were really victims of 'naked shorting' ! In 2008 even the ex SEC Chairman lied on the sec.goc website about Fannie Mae,Freddie Mac,AIG,UBS and even Goldman Sachs shares collpsed in value due to 'naked short selling' ! -Tony Ryals
Missing Baltimore Man Getting National Attention - wjz.com23 May 2006 ... It's been a week since a Northeast Baltimore man was last seen, and police say there is still no sign of 32-year old Rey Rivera. http://www.wjz.com/topstories/Rey.Rivera.Missing.2.422531.html
Suicide Or Murder? Evidence Reviewed - Baltimore, Maryland News ...BALTIMORE -- The mystery behind a Baltimore businessman who fell to his ... http://www.wbaltv.com/13334811/detail.html
http://washingtonexaminer.com/local/man-found-dead-belvedere-worked-comp
Man found dead at Belvedere worked at company that had SEC complaint By: Stephen Janis 06/01/06 2:00 AM Examiner Staff Writer
Karen Martinez, one of the SEC attorneys who filed the complaint against Stansberry, said investors who paid for the tip are angry. "Many investors testified in discovery that they lost substantial amounts of money based on the investment advice of the company," Martinez said. "Investors said they were very unhappy," she added.
An official speaking on behalf of Stansberry Associates said they had no comment on the SEC complaint. Martinez said Stansberry denied the allegations in court and that the case was pending, awaiting the judge?s decision, she said.
Who killed Rey Rivera? | What's Inside Our Brains6 Feb 2010 ... suicide of Rey Rivera, whose body was found on a roof of the Belvedere building in Mt. Vernon in 2006. As I recall from the original ... http://www.whatsinsideourbrains.com/?p=292
LAND OF THE UNSOLVED - The last days of Rey Rivera10 Aug 2009 ... But the patch over the bituminous paving atop a second-floor office at The Belvedere hides a secret the widow of filmaker Rey Rivera thinks ... http://www.investigativevoice.com/index.php?option=com_content&view=article&id=:the-land-of-the-unsolved-the-last-days-of-rey-rivera&catid=25:the-project&Itemid=44
Working links:
Baltimore Crime: Rey Rivera10 Aug 2009 ... can see Rey Rivera's 'friend' and employer Porter Stansberry invited me to visit Agora Inc. and Baltimore in 2005. ... http://www.baltimorecrime.blogspot.com/2009/08/rey-rivera.html
“I briefly quote and provide link from Bill Bonner's Baltimore co-author Lila Rajiva herself who wrote an article about her employers' Goldcor connection and the strange 'suicide' of Goldcor President Richard Brown who was found with a bullet in his head in November 1991 as Goldcor began to unravel.
http://baltimore.indymedia.org/newswire/display/11382/index.php …link no longer works either
http://neworleans.indymedia.org/news/2010/03/14797.phpDeath In Baltimore:Agora Inc.,Rey Rivera,Porter Stansberry,James Dale Davidson,Bill Bonner “This post has to do with the mysterious death of Agora Inc employee Rey Rivera in 2006 who was committing stock fraud for his own personal gain and more so for the profits of his bosses at Agora Inc that included his evil 'friend' of years past,Porter Stansberry, as well as Bill Bonner,James Dale Davidson and the evil Lord William Rees-Mogg of UK who founded or who have been behind Agora Inc stock fraud and money laundering operation for decades. .”
submitted by BoriOno to UnsolvedMysteries [link] [comments]

NA to JP Parity Weapon Progression Guide (Ep3-Ep6)

After looking around trying to help respond to someones reply in a thread I noticed that there weren't that many progression guides for each weapon type so I figured I could make one for most classes. If Sega decides to follow the way that Ep4+ handled their drops then this list should be mostly correct and if Sega decides to throw a wrench in the mix like how they did with Neme/Slave weapons things might become a little different for a few of the classes.
When it comes to NA Lightstream weapons will be name changed to Trailblazer weapons, Austere weapons will be name changed to Ophistia weapons, Takts are referred to as Harmonizers, and some of the other weapons might have their names changed. I don't want to change the name of them in the guide so that people looking them up wont be confused when they don't show up when looking for them.

Main Progression for each weapon type

Sword: 13* Neme/Slave (Now) -> 14* Akatsuki (Ep4) -> 14-15* Atlas Farder (Ep5) -> 15* Lightstream Dimenxion (Ep5) -> 15* Liberate Sword (Ep6) -> 15* Gen Stil (Ep6)
Wired Lance: 13* Neme/Slave (Now)-> 14-15* Atlas Weiss (Ep5) -> 15* Lightstream Alluxion (Ep5) -> 15* Liberate Lance (Ep6) -> 15* Cruva Stil (Ep6)
Partizan: 13* Neme/Slave (Now)-> 14-15* Atlas Vict (Ep5) -> 15* Lightstream Adoraxion (Ep5) -> 15* Liberate Partizan (Ep6) -> 15* Rau Stil (Ep6)
Twin Dagger: 13* Neme/Slave (Now)-> 14-15* Atlas Roke (Ep5) -> 15* Lightstream Obsessxion (Ep5) -> 15* Liberate Dagger (Ep6) -> 15* Dao Stil (Ep6)
Double Saber: 13* Neme/Slave (Now) -> 14* Quelle Scarlette (Ep4) -> 14-15* Atlas Vire (Ep5) -> 15* Lightstream Resurrecxion (Ep5) -> 15* Liberate Double Saber (Ep6) -> 15* Presa Stil (Ep6)
Knuckles: 13* Neme/Slave (Now) -> 14-15* Atlas Body (Ep5) -> 15* Lightstream Asserxion (Ep5) -> 15* Liberate Knuckle (Ep6) -> 15* Forza Stil (Ep6)
Katana: 13* Neme/Slave (Now) -> 14* Kazami-no-tachi (Ep4) -> 14-15* Atlas Varua (Ep5) -> 15* Lightstream Floraxion (Ep5) -> 15* Liberate Katana (Ep6) -> 15* Petra Stil (Ep6)
Soaring Blades: 13* Neme/Slave (Now) -> 14* Jupiter Tullus (Ep4) -> 15* Liberate Dual Blade (Ep6) -> 15* Karaba Stil (Ep6)
Assault Rifle: 13* Neme/Slave (Now) -> 14* Spread Needle (Ep4, Gunner Only) -> 14-15* Atlas Drache (Ep5) -> 15* Lightstream Ambixion (Ep5) -> 15* Liberate Rifle (Ep6) -> 15* Carbine Stil (Ep6)
Launcher: 13* Neme/Slave (Now) -> 14-15* Atlas Volare (Ep5) -> 15* Lightstream Vacillaxion (Ep5) -> 15* Liberate Launcher (Ep6) -> 15* Maul Stil (Ep6)
Twin Machine Guns: 13* Neme/Slave (Now) -> 14* Quelle Windea (Ep4) -> 14-15* Atlas Radda (Ep5) -> 15* Lightstream Execuxion (Ep5) -> 15* Liberate T. Machinegun (Ep6) -> 15* Vai Stil (Ep6)
Bow: 13* Neme/Slave (Now) -> 14-15* Atlas Agria (Ep5) -> 15* Lightstream Obligaxion (Ep5) -> 15* Liberate Bow (Ep6) -> 15* Arco Stil (Ep6)
Rod: 13* Neme/Slave (Now) -> 14* Eternal Psycho Drive (Ep4) -> 14-15* Atlas Zemus (Ep5) -> 15* Lightstream Salvaxion (Ep5) -> 15* Liberate Rod (Ep6) -> 15* Magi Stil (Ep6)
Talis: 13* Neme/Slave (Now) -> 14-15* Atlas Retra (Ep5) -> 15* Lightstream Oraxion (Ep5) -> 15* Liberate Talis (Ep6) -> 15* Mehve Stil (Ep6)
Wand: 13* Neme/Slave (Now) -> 14* Lavis Cannon (Ep4, Te/Hu Only) -> 14-15* Atlas Eyth (Ep5) -> 15* Lightstream Aspiraxion (Ep5) -> 15* Liberate Wand (Ep6) -> 15* Vania Stil (Ep6)
Jet Boots: 13* Neme/Slave (Now) -> 14-15* Atlas Exocet (Ep5) -> 15* Lightstream Bendixion (Ep5) -> 15* Liberate Jet Boots (Ep6) -> 15* Serpen Plenzer (Ep6)
Takt: 13* Nemesis/Slave (now) -> 14* Rykros staff (ep4) / 15* Liberate Takt (ep6).

These paths dont include the many many other side grades there are to each weapon but most weapons do have ones that can be better due to playstyle or just in very specific scenarios.

Main Weapons

One of the things you will notice right away is that almost every weapon will have the Atlas series, Lightstream, Liberate, and Stil weapons as weapons to upgrade to. They are considered the best due to their ability to have S-Class affixes on them, they aren't like the usual affixes because instead of flat damage bonuses they will give various effects that are close to having extra potentials. A few examples are S4:Wand Clobber which gives you the attack speed bonus and hit-stun negation from the lavis cannon, S2:Medicinal Wisdom which causes you to get pp along with hp when you heal with mates, and S4:Vampiric Strike which will allow you to restore up to 30 hp per hit you do. There is a plethora of other ones you can choose from and set on the weapons to make them cover up the weakness of your weapon, double down on what the weapon does well, make you gain even more damage, grab potentials from older weapons, and even more things but you get the point. S-Class affixes will allow you to tailor weapons to your choosing and help create the best playstyle for each weapon type. The S-Class affixes have their own different slots being S1, S2, S3, S4, and S5 and also require the weapon of choice to have the S-Class slot supported on it. The Atlas series (S1-S4 Access), Lightstream (S1-S3 Access), Liberate (S4-S5 Access), and Stil weapons(S1-S3, S5 Access) will all have access to the most important S-Class affixes there is to offer while balancing it with high weapon damage and amazing potentials.
Atlas: Atlas weapons are strong due to being the first weapons with S4 access and having a decent potential. The potential is simple and will give you (8/9/10%) more damage and once you make it to the 15* versions those will also add the ability to live one lethal attack with 1 hp and rapidly heal you to full once per quest. Very simple and strong but the big benefits are in having the S1-S4 access in allowing the access to some old potentials and the tailor-made playstyle for you.
Lightstream: Lightstream weapons gain most of their strength in being a very strong PP Battery and having high base damage over Atlas in trade for an S4 slot. The potential gives you (8/9/10%) more damage just like Atlas but it makes Dark Blast last for 10 more seconds and also fully restores PP when you use a PA/Tech under 10% PP and gives 3% more damage for 30 seconds and has a 120 second cooldown. Even once you ditch the lightstream weapons for better weapons they will still have their use in being full PP regen in trade for the power of 1 PA/Tech. They still have S1-S3 access like Atlas but miss out on the strong S4s though even without them they are very strong weapons in their own regard. You will want to usually stick with 15* Atlas until you full affix your Lightstream weapon.
Liberate: Liberate weapons are massive for a few weapons(Looking at you soaring blades) and great upgrades for the others. Their main appeal is in being the first weapons to have access to S5s and on top of that they also have access to S4s. Most S5s are recycles potentials on weapons that were very meta breaking weapons but they are usually locked to one weapon type. The potential will give (10%/15%/20%) more crit chance, give (10%/13%/16%) more damage, and have (10%/12%/15%) pp consumption reduction. The crit part of the potential will usually make up for the loss in crit chance for most classes by not having the S1-S3 slots to cap but for classes that already cap without needing those they end up losing more crit damage, its fine though because the high base damage and the % Damage boost will make up for it. Very good weapons at the start of ep6 but you will want to stick with one of the two ep5 ones until you fully make your liberate.
Stil: Finally there is the Stil weapons, these are DPS machines and are the best weapons for almost every weapon type (*angrily stares at Jet Boots*). Boasting usually over 100 attack over the Liberate these monsters drop the S4 slot from liberate and add in S1-S3 slots allowing for more damage than obtainable from Liberates and that's before thinking about the Stil potentials. The Potential gives you 10% bonus damage and will increase at 0.4% per second you don't get hit eventually capping out (14%/15%/16%) but if you get hit you will lose 3% and have to build up again. When the power bonus is maxed you will get 40% damage reduction, restore 20 PP every 10 seconds, 60% increased natural PP recovery, and knockback immunity. These weapons are insane but can tend to under perform if you aren't to comfortable with whatever content you are trying. Either way if you are super comfortable or not these weapons will always be amazing just because of the S5's sheer power and the S1-S3s flexibility. You will be grinding for these a bit and the liberate will beat it out until the Stil is on its final version so don't full cross out your liberates once you get the stepping stones for a Stil.

Outlier Weapons

Sword: Akatsuki potential is very strong due to the weapon giving hunter what it needs at almost every moment. The potential makes the weapon function with a 2 state system, sealed and unsealed, you can switch states by perfect guarding an attack with your weapon action. While sealed the weapon will regenerate (5%/7%/10%) HP every 10 seconds, fill focus while the weapon is out (70 seconds to max), and give you immunity to being knocked back. While unsealed you will deal (10%/11%/12%) more damage, have (10%/15%/20%) pp consumption reduction, and gain a chance to reduce damage taken by 99%. Sealed Form will allow you to start building up your gear during downtime instead of being dead in the water after boss goes out of range for a while. The knockback immunity helps during your PAs that don't have super armor so that you can be a little more aggressive along with the healing making those hits just be shrugged off. Unsealed is where you will spend most of your time, the damage bonus is the biggest thing that will make the weapon, its 5% off of a Neme/Slave when maxed but the base damage will make up for it so it ends up being stronger and the pp consumption effect won't disappear if you were to get hit. The damage reduction is just an extra effect that doesn't make or break the weapon but helps just make it that much better. On JP there is an additional potential that will boost those effects even further but its unknown if we will get it on NA right away.
Double Saber: Quelle Scarlette is a very interesting weapon but ends up being one of the best for double saber. The potential will make Double Saber weapon action tornadoes last for 16 seconds longer and will deal (8%/9%/10%) extra damage than the usual version. As it stands in NA we don't have the ring for double sabers but that should change in ep4. The ring is huge for double saber allowing it to activate their weapon action tornadoes by just using any PA other than Chaos Slicer and Hurricane Hurl. With the Quelle Scarlette and the ring (which you will be using if you are using DS ever) makes one of your main damage sources on double saber just that much better due to just making it stronger and removing the downtime of having to use the weapon action to get the tornado off. The time limit increase on it also allows for easier focus generation for more tornadoes. On JP there is an additional potential that will boost the tornado damage by 14% more on top of the other potential making it on par with low end 15*s but at the current time its unknown if we will get it right away on NA.
Katana: Kazami-no-tachi is huge for katanas due to the insane focus boosting effects of its potential. The potential will make the katana focus charge 8 times faster than normal, give you an extra (10%/12%/14%) Damage while focus is active, and cut the drain of having focus active down to only 33% of its normal rate. This weapon is insane for katanas because one of your big issues is that when you disconnect from a boss you will drain down to no gear pretty quickly causing you to have to build focus up and counter again to get back to your best damage, but with the Kazami that isn't an issue anymore because that drain rate is just about perfect for most bosses to become vulnerable before you run out of focus and on the off chance you do you will shoot right back up to max in just a few attacks. The damage bonus of it makes the weapon beat out Neme/Slave, even though Neme/Slave have a 3% higher damage multiplier the Kazami will win due to the higher base damage. JP has a second potential on this one also that will boost the damage by 7% more but as with the others there is no guarantee that we will get it on NA right away.
Soaring Blades: OH BOY TIME TO TALK ABOUT THE JUPITER TULLUS. These Soaring Blades have the most insane potential Sega have ever put on a weapon. The potential makes you deal (6%/7%/8%) more damage, and fires a piercing lightning blade that scales with melee power (150%/200%/300%) after every PA and two after Kestrel Rampage. The damage potential of the lightning blades on these are INSANE, it makes the weapon beat out most of ep5 weapons and only start to lose out on ep6 weapons BUT the only reason why is because there is an S5 that just copies this potential. Since most of Soaring Blades is about abusing fast PAs in PBF windows you will be firing out those lighting blades at mach 10 with relative ease making you deal more damage in your burst along with also just working with almost every usual rotation you are going to do with soaring blades whether that be the usual PP dump combos, snatch combos, or whatever homebrew combos you pick. The dumber part of these also falls in the second potential on these which is just the other potential but with 12% more damage making it beat out even end game 15*s, but as with the others there is no way to tell if we will get it right away on NA.
Assault Rifle: Spread Needle is a rifle that is very bad for Ranger but very good on Gunner. The potential give (8%/9%/10%) extra damage when in close range and adds an extra attack (100%/250%/400%) to the weapon that functions like a shotgun that will restores 6 PP when it connects and have a chance to stun on hit. Due to how Ranger's Sharpshooter skill works the rifle cant get both bonuses at the same time consistently but because Gunner and all of its close range skills naturally work on gunner it meshes very well, not to mention that Gunners will use the basic attack more for possible chaining because it isn't saving weak bullets like Ranger. The extra pp recovery from the rifle is a very nice addition but the stun isn't abused that often due to not wanting to use rifles during mobbing scenarios and most bosses cant actually be stunned with just the stun status. The rifle is a nice addition to a gunners arsenal but not that needed for a ranger. Spread Needle will also be stronger once it gets is second potential which will just copy the first one with an extra 10% damage making it go on par with low end 15*s, just like the others we don't know if NA will get it right away.
Twin Machine Guns: Quelle Windea is going to be one of the best TMGs due to just its sheer utility alone. The potential makes it so that when you activate Chain Trigger you will recover 100 PP, Become invincible for 5 seconds, and gain (10%/12%/14%) increased damage for 60 seconds. There is so much going on for gunner here, for starters you can now use Chain Trigger as a panic button to keep yourself from dying, you don't have to worry about running out of pp if you pop it early while waiting for a weak point to be exposed, and finally YOU CAN KEEP THE DAMAGE BUFF UP FOREVER. As a gunner when you pop a 100 chain you will either have a few seconds left on the timer or just immediately have it ready right away depending on how long it took you to pop the chain. 60 seconds is a very long time for a gunner to not use a chain and will only really happen if you ever have a chain time out or if it's on a part that gets broken, but most of these won't really happen to you once you have the fight down enough. Even after this TMG is outclassed it will still have usage in its utility alone by allowing you to switch to it, pop chain, and gain the effects for a few seconds, making it a good investment for later also. Just like the others it also gains a second potential that is just the first but better, the increases for the second are making you gain 50 more pp on activation and 8% more damage also. We also fall right in line with the others on not being sure if we will get the second one right away on NA though but still very good to keep in mind.
Rods: Eternal Psycho Drive's usage can be a little iffy to people but in my opinion it will be one of the better rods we will have access to due to how compounds work. The potential will boost the effects of element conversion for matching element (15%/20%/25%) and off element (20%/25%/30%), it will also reduce the pp consumption (1/2/3) of all techs. The element conversion part will just add that flat amount to element conversion making on and off element on par with damage and due to how compounds will take advantage of element conversion you will boost the damage of compounds by a pretty significant margin along with making every element you cast gain element conversions full effects. The part that can hurt though is that compared to a Nemesis Rod techs can possibly cost a little more but the damage bonus will more than make up for it. Like the others it will gain a boosted version of the normal potential that will increase matching element and off element by 15% along with 1 more pp consumption reduction. The second potential will make it keep up with low end 15*s and become a solid choice until your atlas rod. The usual downside ensues though, no idea if we will get the second potential or not right away on NA.
Wand: Lavis Cannon is a good wand on Te/Hu due to its potential. The potential on it makes your attacks speed up by 28%, removes all hit stun off of your attacks, and gives you a shockwave on the third hit of your normal attack combo that scales with melee power (600%/700%/900%) and restores 10 pp when it hits. It's one of the strongest due to scaling nature of the third hit which enables a ton more damage than just the higher base damage of slave/nemesis not to mention that the increased attack speed will make you get to the third hit even faster. There is also an eventual second potential that will give the Lavis an extra 5% damage on top of the other potential but it is unknown if we are going to get it right away on NA.
Jet Boots: Serpen Plenzer is actually an outlier to the outliers due to it being the best jet boots you can get once we make it on par with JP. The potential follows the Jupiter Tullus in being a weapon that seems to be on track to only be beaten by itself. The potential will give you (6%/7%/8%) extra damage and double the speed of Jetsweep Kick while also increasing the range of it. The main goal of jet boots on JP is to maximize the amount of Jetsweep Kicks you can get during your Rapid Boost phases and this aligns nicely with that speeding up its usual loop by almost double the speed and making Jetsweep almost your longest range PA. It's something that almost no matter how strong future weapons will be it isn't going to beat the pure range/utility/spam that the Serpens will allow and to top it off it comes with S1-S3 slots also making it even more future proof than the Jupiter Tullus were.
Takt: Rykros Staff is one of the best Takts that the game has to offer even leading into Ep6 where it is almost matched in power by the Liberate Takt. The potential on the Rykros will auto fire off a single target Megid that scales with tech power (1500%/1700%/2000%) for each PA your pet does during Alter Ego and will auto fulfill pet sympathy during Alter Ego after 5s with no cost. This Takt is insane due to how well it scales with most pets, the only one that can't abuse it to its fullest extent is only Viola due to it's slower nature. It will be the main takt in your arsenal for a long time due to the Jupiter Tullus nature of the potential in that it is just so busted that the only thing that will seem to beat it is just making it again. As like most of the other outliers there is also a second potential that is the same as the first and will increase the Megid damage by 500% and also just like most of the others it's unsure if we will get that one also when it drops on NA.

Honorable Mention:

Austere: The Austere series is another series that will be introduced in EP5 but it will be considered a side grade due to the nature of its potential. It's potential will give you effects based on what Photon Blasts you use during a quest making it more suited for quests that will last for longer than just 1-2 blasts, The main content for that being the endless quests that will loop till you run out of time. Their biggest saving grace will be that you will be able to farm Austere weapons due to them being created by drops and not requiring the special stones that the Atlas series and Lightstream series will require to be created.
Plus Potentials: Austere, Atlas, and majority of the Outlier weapons will gain new plus potentials making them on par with stronger weapons. I chose not to factor those into the gear progression due to how we most likely won't be able to access them until about mid Ep6 and then there will be about 2 easy to obtain weapons that will be stronger in the mean time. When they do drop though, The Atlas weapons will become slightly weaker sidegrades to Stil, it allows Austere to rival usefulness for some classes vs Stil, and the Outliers will usually start pushing up to low end 15* or higher depending on the weapon. This should allow for some people to ignore upgrades until then you are fine with lower damage until the pluses, but if you want to push the strongest you can be the usual list should be the go to. These will be referred to as Redux Potentials when they come out on NA.
Yasminkov 4000FJ: The Yasminkov 4000FJ is a 14* launcher that released in Ep5 on the JP servers. The potential will make the launcher fire four rockets as its basic attack that will home in on enemies and deal 33% of a normal shots damage, its main usage is in gaining pp since each rocket will give you pp instead of just one making you usually cap on pp in about 1-2 rockets. The only thing holding this one back from just being the best is because it comes out in Ep5 when there is the easy to obtain and stronger Atlas Weapons. It will always have its use as a pp battery for mobbing though.
Exium Bunker: The Exium Bunker is another 14* launcher that also came out in Ep5 on JP. The potential will change the PA Contact Blast making it deal 3 times its normal damage and only cost 1 pp. Once you use a boosted version the attack, you will go back to the normal usage for 60 seconds or you can dodge through an attack to get it back. It's strong but its main issue is that most players aren't going to be that good on spam rolling through attacks to make use of the potential at its fullest. Just like the 4000FJ though it has the issue of coming out in Ep5 and having to try and beat out a Atlas for best in slot status.
Gear Experience: The Gear Experience is a 14* Knuckle that came out towards the beginning of Ep5 on JP. The potential will make it so that every time you dodge an attack with the weapon action, you will fire out a meteor fist that will also give you invincibility until the animation ends. The meteor fist will always be the giant version making you avoid any rng needed to get one off. This weapon is actually really strong but only in certain situations, those being any fight that requires excessive dodging, any fight that has DoT pools, or a free field where you can sit in a hazard. This knuckle will out damage most others during this situation but the way the fights in Ep5+ will function there will usually be a dodge phase then a damage phase in which you will dump all of your pp. The Gear Experience will seem like it would be useful on the dodge phases till you realize that most of the bosses are flying some how or have points that will be in the air causing you to just prefer Twin daggers for those times, but on the bosses that do work to the Gear Experiences strengths they will just melt like butter. As with the other Ep5 sidegrades its fighting against the Atlas and lightstream in terms of strength causing them to fall off a bit.
Genon: The Genon seires of weapons are a 15* series that was introduced in Ep6 that every class except summoner will have access to in one of their weapon types. Their damage is on the low end of the 15* s and is beaten out by most other choices at that point but their true use falls in their utility from their potential. The potential on them will decrease the pp consumption of PAs/Techs by 45% but you will take a flat 90 damage every time you use one. Looking at them with just that alone makes them seem like very bad weapons because why go for a low damage weapon that will just make you suicidal until you realize that they have S2 and S3 slots on them. Those two slots make this weapon go from very bad to the best pp battery in the game due to the Cursed Radiance S-Class affixes. Cursed radiance will make you gain 15% of your max PP every time you take damage meaning that in 3 PA/Tech usages you will gain 90% of your pp back. The effect is insane and will always be a pocket pp battery that can be used in situations where trading some hp for a full pp bar will be ok and when in combination with a lightstream you will pretty much never have any reason to be at 0 pp.
Orbit/Mirage/Nova: These series of weapons (along with the Austere if it has the correct affixes) are the primere PP regen weapons until we get the Genon series in Ep6 and even then will still have their uses. The Orbit series was a 13* series came out in Ep3 on JP while the Mirage and Nova came out in Ep6 being 14* and 15* respectively. The Orbit and Nova share the same two potentials while the Mirage will only have a changed version of their first potentials. The first potential will increase your PP regen by 200% while your weapon is sheathed and halt it while its unseathed but will increase your pp gained per hit by 60%. The second potential will decrease your pp regen by 60% while your weapon is sheathed and increase it by 20% while its unseathed while also increasing your pp gained per hit by 20%. Finally the Mirage potential will increase your PP regen by 250% while your weapon is sheathed and halt it while its unseathed but will increase your pp gained per hit by 50%. The only potential worth worrying over is the first and mirage ones, due to the fact that the weapons will have low damage making them not wanting to be used for fighting compared the other weapons that are available when they come out. The main usage for these weapons will be just swaping to them during downtime or when you are repositioning to regen pp at a higher rate than usual. The Mirage will have an S3 slot and the Nova an S3 and S4 slot to make them even better than orbit so dont worry about them just being fancy reskins. These weapons arent as good as genon at PP regen but will offer a safer albeit slower way to regen pp as needed.

Final Notes

Sorry for not including Gunblades and more sidegrades. I am not familiar at all with Gunblades and the only class that will realistically make use of them isn't out at the time of me writing this. The sidegrades are just that, sidegrades and not the main focus for each weapon type, but I will be adding any notable ones that people mention in the comments. Also sorry for not mentioning anything on the Scion classes. I didn't want to include any of the scion classes in the list as to not confuse people on some of the weapon upgrades due to the nature of scions changing how weapons work.
If any of the information is wrong or can be changed somehow feel free to let me know, it's been awhile since I've had to look back at each weapon type so I might have missed one or two weapons that are possibly just as good as some others.
EDIT: Added u/Laggoz recommendation on what the Takt Progression is and why Rykros Staff. Along with some general formatting changes and some extra bits.
EDIT 2: Added information about the Plus potentials to the Honorable Mentions part
EDIT 3: Added some bits about the names of weapons being different from JP. Thanks to u/synthsy for pointing them out for me!
EDIT 4: Added the Yasminkov 4000FJ, Exium Bunker, and Gear Experience into the honorable mentions section.
EDIT 5: Added the Genons and Orbit/Mirage/Nova series into the honorable mentions section.
submitted by starkarp to PSO2 [link] [comments]

SWK - Insanely Cheap Mining Adjacency

SWK - Insanely Cheap Mining Adjacency
*** Updated Research

SWK provides an amazing opportunity to take advantage of the bull market in precious metals at an undemanding valuation with excellent operational momentum.
Environment:
Precious metals have had a phenomenal ride lately; both due to fear arising from COVID-19, and coordinated monetary policy stimulating economies at an unprecedented level. The graphic below shows the recent parabolic move in GLD (overshadowed by SLV) and reflecting upon the 08 crisis and the numerous QE policies that followed, this upward trajectory may continue further.

GLD vs DJIA (2006-Present)

With rises in commodity prices, the logical next step is to get some operating leverage and purchase the gold miners. No doubt, this second level thinking has been handsomely rewarded albeit encountering the sovereign and FX risks with many of the global miners domiciled in South Africa and Russia:

DRDGold, Polyus and Polymetal (April 20 - Present)
Since many of these miners are in the process of expanding production, cash flow won't be realised for several years and operating margins may not improve as much as managements' forecast (i.e. ASX: DAC). Further, since the market has drawn the logical connection between commodity prices and miners, these companies have run a very long way in the last few months.

Company Overview:
This is where SWK provides us with a cheaper and lower risk opportunity to gain access to this thematic. SWK provides drilling services to large miners of metals (i.e. nickel, silver, gold etc.) in US, Canada, Europe and Australia. Specifically, they use specialised drills to extract samples, which they analyse to then assess to the viability of a site. Increasing demand for mining exploration will, intuitively, increase drilling utilisation and drilling rates. SWK also entirely owns Orexplore, which provides mobile sample analysis to determine the characteristics of extracted cores. This improves the efficiency of examining the quality of a site by removing cost (transportation and storage), timing (it can be conducted on-site), and operational risk (damage in transit) all of which further benefit the mining co. and embed SWK into the exploration process.

Competitive Advantage:
SWK’s competitive advantage is being able to a world class cost effective and efficient underground drilling. For example, their development of DeepEX allows for longer hole from underground that are cheaper than many shorter surface holes. Their recent contract extension from BHP at Olympic Dam despite competitors (i.e. MSV and BLY) rigs being used onsite is testament to their value proposition.
SWK has also invested heavily (~$25mn) into their Orexplore technology in an attempt to move up the value chain away from high-capital intensive drilling into a higher margin business. This technology removes significant operating expenses (employees and equipment), reduces lead time (can be built and shipped globally within 2 weeks), is very simple to use (technical training is not required), and most importantly, is currently being purchased for free and is the main catalyst in this investment (more on this later).
Furthermore, SWK has made a concerted effort to increasingly diversify their product offering to different miners (with exposure to various commodities), and geographically. Their global and diversified footprint has provided them with a world-wide footprint, with costs to build their global business already incurred (most recently in Pogo – Alaska), further encouraging a buyout (more on this later).
FY19 Financial Report
H1 2020 Financial Report


Catalyst and Valuation:
Exit Options:
The primary catalyst for a revaluation in SWK is a huge macroeconomic tailwind providing momentum that might facilitate a sale of the drilling business to a strategic buyer. Without doing too much crystal ball gazing, I view the exit opportunities as follows:
5% - Amazing sale of drilling business = >100%+ returns;
65% - Solid sale of drilling business = 50-100% returns;
20% - No sale and general re-rate = 25-50% returns;
10% - Languishing business and capital destruction = -25%-0% returns.
Given management’s firm guidance towards the sale (https://www.openbriefing.com/OB/Swick-Mining-Services-Ltd/2020/2/25/Swick-HY20-Results-Conference-Call/3716.aspx at ~08:00) I will focus on our base case that entails: (i) selling or closing surface drilling business as it’s the lowest margin / weakest vertical; (ii) selling underground drilling business; and (iii) refocus towards Orexplore either through taking the business private, IPOing a new entity or rebranding SWK.
Given shareholders have been frustrated with SWKs delay in progressing the business towards a sale and having difficulty commercialising Orexplore it has been important to wait for a noticeable inflexion point in the business to attempt to “time” entry as much as possible. Let’s see how the inflexion point is here beyond the macroeconomic environment above.
Miners around the world are aggressively looking to expand their operations due to increasing commodity prices and SWK's services become front of mind. Recent news is ticking all the boxes and adding huge momentum in the stock to catalyse a re-rating.
  1. Reinstatement of dividend payment and share buyback program showing prudential capital management and a positive outlook relating to future financial position. This is a double-edged sword as management raised capital at 23c and bought back shares from 12.5c through to 17.5. By buying now, we have avoided this dilution although acknowledge this was not the best form of capital management. On the other hand, it does suggest management are flush with cash and happy to redistribute to existing shareholders before a possible sale; that is, we get paid to wait:

ASX Announcement 1
ASX Announcement 1

ASX Announcement 2

  1. Contracts are being extended, new contracts being won, and guidance on FY21 figures. Management are highlighting clear intention to demerge and growth is providing EBITDA growth for a better sale price:

https://preview.redd.it/06fxmos33dh51.png?width=563&format=png&auto=webp&s=70367dc6c623a4bb16c434f7f0f9892cd2a2f20b

  1. Large contracts with key miners and commercialisation of Orexplore. This is increasing utilisation rates and improving margins by expanding work at existing sites:
ASX Announcement 3a

ASX Announcement 3b

  1. Upcoming earnings call to catalyse re-rating:
ASX Announcement 4


  1. The Orexplore website (https://orexplore.com/the-orexplore-review/) has received increased attention with far more activity within their “Review Blog” section leading towards commercialisation. Posts are being made almost weekly increasing its awareness:
https://preview.redd.it/snsbk0vz2dh51.png?width=602&format=png&auto=webp&s=bb5a68c362a20c900c127dd53357ac5bf46dbbd5
https://preview.redd.it/1a80klgz2dh51.png?width=602&format=png&auto=webp&s=ab1f81609e06fc30683de45a4de778bb2838bb80

  1. MSV as the strategic buyer for the drilling business has shown intent to inorganically expand their operations. Deepcore had an EV of ~$44m (excl. additional earnout payments), revenues of ~$50m p.a., and an EBITDA of ~$12m with approximately half the rig number of SWK. This purchase confirms the “fair value” multiple for a drilling business is ~4x EV/EBITDA, even for a significantly weaker private business due to utilisation, profitability, scale and contractual certainty.
https://preview.redd.it/jumpn58y2dh51.png?width=602&format=png&auto=webp&s=ad650e7b63b341e06ddd0a8bff88121249a03925
Valuation:
Ok, so let’s turn our attention to the forward guidance and conservative estimates for SWK. SWK against mostly all metrics is very cheap. Management have forecast EBITDA to be ~$25mn in FY20. Although I think we can conservatively estimate this to grow significantly throughout FY21.
The improvements to EBITDA will come from the following: (i) commercialisation of Orexplore = $0.5-1mn, (ii) ~$3-4mn in reaching steady state (20%) margin from the Pogo contract as costs normalise and backdated earnings flow through; (iii) ~$2mn in operating expense reduction during COVID-19; (iv) the $120m increase in the order book between 30 July and 14 August implies $120/5 = $24m p.a. at a slight discount to target margin of ~15% gives another $3.5mn EBITDA. Putting this all together FY21 EBITDA might be ~$35mn.
In addition to the purchase of Deepcore, we can use the current valuation ratios of MSV and CAPD as a guide. Currently competitors trade between 3.5x (CAPD) and 4.5x (MSV) EV/EBITDA multiples. If we use 4x as a reasonable multiple on current EBITDA, this would imply an enterprise value of ~$100mn (or a 30% upside) whilst paying nothing for Orexplore. Upon conservative forward FY21 EBITDA figures, the enterprise value could easily reach ~$150 (or a 100% upside) again paying almost nothing (only $1mn / $35mn in EBITDA) for Orexplore.
By way of reference, SWK with similar metrics in 2011/12 was trading at a ~100% premium (i.e. ~40c (market cap $90-110mn) whereas now it is ~$20 (market cap $50mn). A decade ago, it also did not have the same existing clientele and large-scale contract wins (see 3a above with a forward order book of $363mn (relative to current revenues of ~$150mn).
The cherry on top of this investment is Orexplore, which we buy for free. None of the revenue and earnings multiples above include any real impact from Orexplore. On 14th August the commercial viability of Orexplore was been partially validated with their first contract win. Although its value is only $700,000 over 6 months this call option like payoff comes entirely for free. Further, the true profit margins of SWK has been hidden due to the losses incurred from Orexplore, which has to date cost $25mn in R&D (or equal to almost 10yrs of earnings), the amortisation of associated software development, and continued global expansion (Portugal and Europe before North America) each requiring initial costs prior to achieving target margins. Even better we get a first glimpse at how attractive Orexplore might be. Combining discussion in the latest conference call (https://www.openbriefing.com/OB/Swick-Mining-Services-Ltd/2020/2/25/Swick-HY20-Results-Conference-Call/3716.aspx 04:30 - 06:30) with the recent contract we can conclude the following: (i) 3 machines at Sandfire will generate ~$3.6mn in revenue covering approx. 50% of cash flow with nearly no operating expenses; (ii) $700,000 for 6months scanning 1500m of core per month implies ~$75/m (against an estimated $100m from guidance). As per guidance, if we assume Orexplore machines can scan ~$4m/hr ($300hr) and total costs may include one unskilled technician and minimal overheads ~$50mn this provides a gross margin of ~75% (or almost 4x undergrounding drilling). Due to the profitability of Orexplore, 15-20 operational machines on yearly contracts would provide greater earnings than SWK’s entire business. Hopefully the publicity of Orexplore at Sandfire can attract some attention, and in turn some additional contracts.

Risks:
No investment is without its risks, and for SWK they fall into: (i) capital mismanagement; and (ii) poor communication / delays. Firstly, the recent capital raise at ~23c followed by aggressive buybacks at ~12.5-14c-17c seems unwise. Although buying now avoids this dilution, it is unclear why excess capital was required if dividends and buybacks were announced shortly thereafter. Secondly, the share price has historically languished due to a lack of publicity and detail on the transformational Orexplore. It is likely that management were unwilling to oversell the Orexplore narrative before genuine contracts were won and the technology was established. Now that these are in place, hopefully the corporate restructure can take place and the upcoming strategic review can provide a clearer picture for the near term.
submitted by Bruticus91 to ASX_Bets [link] [comments]

[Comic Books/Batman] A Death in the Family, or: How DC Comics Let a Phone Vote Kill Robin.

DC Comics has published literally thousands of Batman comics in the character's eighty-odd years of existence, but few are more infamous than A Death in the Family, when DC let fans decide whether Jason Todd, the second character to use the identity of Robin, lived or died.
An apology in advance: many primary sources for this drama have been lost to the annals of history: this was the 1980s, the Internet wasn't really a thing yet, so fan discussion around comics mostly took place in Usenet newsgroups and comic book letter columns, both of which are very difficult to find archives of today. I've reconstructed the story as best as I can, but I wish I could find more quotes from fans at the time.
Also, SPOILER WARNING. There are unmarked spoilers for Batman comics from the 1980s below this line. Don't say I didn't warn you.

Who was Jason Todd?

Jason Todd was a character introduced in 1983's Batman #357 by writer Gerry Conway and artist Don Newton and under the auspices of editor Len Wein, as a replacement for Dick Grayson as Robin. Grayson had outgrown the pixie boots and scaly shorts of the Robin identity, and graduated to his own identity as Nightwing, over in The New Teen Titans. But Conway felt that Batman still needed a Robin, so Todd was born:
Gerry Conway (writer, Batman and Detective Comics, 1981-1983): I always felt that Batman worked really well with a sidekick like Robin. My interest in the character was the version of Batman as a detective, the version of Batman as a guardian of Gotham. This was prior, I believe, to the deep-dive into the “dark knight” kind of concept of Batman, so, for that end, the idea of a younger sidekick who could bring out a little more levity in the character seemed useful. But Dick Grayson as a character had grown into a young adult and was integral to the Teen Titans series, and had his own life and his own storylines that were developing separately from Batman, and [he] couldn’t really play that secondary role that I was interested in exploring. [1]
Todd was introduced as the son of two acrobats who had been murdered by Batman's enemy Killer Croc, in a striking similarity to Dick Grayson's origin written forty years prior. Todd would officially become the new Robin in Batman #368, published February 1984, and would continue to go on adventures (written by Conway and then by Doug Moench) with Batman until 1986's Batman #400. During this period, he's probably best remembered for a. being involved in a custody battle between Batman and a vampire, and b. getting the drop on Mongul in the classic Superman story "For the Man Who Has Everything" by writer Alan Moore and artist Dave Gibbons.
But then the Crisis happened, and everything changed for Jason.

The Crisis

You don't have a comic book company for almost fifty years without running into some hurdles along the way, especially where characters and continuity are concerned. In 1954, psychologist Frederick Wertham published Seduction of the Innocent, a book asserting that comic books were harming the children of the day, causing them to turn into delinquents. As a result, the bustling superhero genre of comics at the time slowed to a crawl, with most of DC's (then known as National Periodical Publications) characters, such as the Green Lantern and the Flash, ceasing publication and being replaced with comics about talking animals, romance stories, and giant alien monsters.
Just a few short years later, in October 1956, creators Robert Kangher and Carmine Infantino would introduce a new version of the Flash in Showcase #4, and the Silver Age of comics had begun. Eventually, the Golden Age Flash was reintroduced, and it was established that the Silver Age characters resided on Earth-One, while the Golden Age characters were from Earth-Two. Everything was fine and dandy, until DC decided things had become too confusing and that they needed to kill their multiverse.
In 1986, DC published one of the very first comic crossover events - Crisis on Infinite Earths, an earth-shattering story that pitted almost every hero in company history against the threat of the Anti-Monitor. The outcome was that all the characters and stories from Earth-One, Earth-Two, and several other alternate Earths that had appeared over the years were consolidated into a single, streamlined universe, and with that came changes for several other characters, Jason Todd among them.

The New Jason Todd

After Crisis, new blood was in the Batman editorial offices. Former Batman writer Denny O'Neil had taken over as editor of the Batman family of titles, and he had a different opinion on Robin than that of Wein and Conway before him.
O’Neil: There was a time right before I took over as Batman editor when he seemed to be much closer to a family man, much closer to a nice guy. He seemed to have a love life and he seemed to be very paternal towards Robin. My version is a lot nastier than that. He has a lot more edge to him. [1]
In keeping with the desire for a darker, edgier Dark Knight (it was the 1980s, after all), this version of Batman debuted without a Robin by his side. Dick Grayson was still Nightwing, but Jason Todd was nowhere to be seen. This darker interpretation of Batman was only solidified once Frank Miller put his touch on the franchise with "Batman: Year One" in Batman #404-407, and the standalone graphic novel The Dark Knight Returns, the impact of which cannot be understated.
The Dark Knight Returns was a pivotal moment in the formation of what we would consider a recognizably “modern” incarnation of Batman, someone who is brooding and dark, a loner who isolates himself from society to obsessively carry out his one man crusade by any brutally violent means necessary. It was also an important milestone for comics a medium when it landed on top of the Young Adult Hardcover New York Times bestsellers list—a feat it only qualified for thanks to its release as a trade paperback in bookstores. For the first time, mainstream audiences were zeroing in on Batman, and not because of a popular TV show or serialized movies, but because of a comic book. 2
Immediately following "Year One," O'Neil asked writer Max Allan Collins to reintroduce Jason Todd as Robin into the continuity, in a storyline titled "Batman: The New Adventures" starting in Batman #408. The new Todd was a delinquent orphan, caught by Batman when he tried to steal the tires from the Batmobile and taken in and trained to be the new Robin.
At first, the change was controversial among the fandom, especially given the wildly contrasting takes between Mike W. Barr's softer portrayal of the Dynamic Duo in Detective Comics and the harsher portrayal from creators such as Collins, Jim Aparo, and Jim Starlin (best known now as the creator of Thanos) in Batman. But nobody was clamoring for his death yet, and the intensity of debates around the new Jason Todd, fought out through comic book letter columns, were milder in comparison to those around whether there should be a yellow oval on the Batsuit or not. [3]
Over the next few years, fan hatred for Jason began to grow, as the new incarnation of the character was not only a replacement for a highly beloved character, but also had a lot of anger issues to sort through. But then came the boiling point - Batman #424, written by Starlin and pencilled by Mark Bright, released October 1988. In that story, Todd confronts Felipe, son of a South American diplomat who was heavily involved in the cocaine trade. Batman reasons that, because Felipe has diplomatic immunity, there's nothing he can do to stop him, but Todd thinks otherwise. Felipe falls from a skyscraper to his death, leaving Batman to wonder: "did Felipe fall... Or was he pushed?"
(Starlin, for what it was worth, hated Todd from the get-go, and specifically wrote this story to play to the controversy:
Starlin: In the one Batman issue I wrote with Robin featured, I had him do something underhanded, as I recall. Denny had told me that the character was very unpopular with fans, so I decided to play on that dislike. [1]
He had also tried to have Todd killed beforehand, of AIDS:
Well, I always thought that the whole idea of a kid side-kick was sheer insanity. So when I started writing Batman, I immediately started lobbying to kill off Robin. At one point DC had this AIDS book they wanted to do. They sent around memos to everybody saying “What character do you think we should, you know, have him get AIDS and do this dramatic thing” and they never ended up doing this project. I kept sending them things saying “Oh, do Robin! Do Robin!” And Denny O’Neill said “We can’t kill Robin off”. [4]

A Death in the Family

By 1988, though, O'Neil had changed his tune. Alan Moore and Brian Bolland's The Killing Joke had left longtime supporting character Batgirl crippled and confined to a wheelchair, to major praise from fans and critics alike, and there was blood in the water. Sales for Batman were at levels not seen for over a decade thanks to the works of Miller and Moore, Tim Burton's Batman feature film was on the horizon, far removed from the camp aesthetic of Adam West and Burt Ward and entirely Robin-free, and fan hatred for Todd was at an all-time high.
Jenette Kahn (publisher, DC Comics, 1976-1989; president, 1981-2003; editor-in-chief, 1989-2003) : Many of our readers were unhappy with Jason Todd. We weren’t certain why or how widespread the discontent was, but we wanted to address it. Rather than autocratically write Jason out of the comics and bring in a new Robin, we thought we’d let our readers weigh in. [1]
O'Neil and his team of editors brainstormed how they could remove Jason from the story, and the answer was clear: kill him, just as Starlin had suggested time and time again. Recalling the success of a 1982 Saturday Night Live sketch in which Eddie Murphy let viewers vote via phone on whether he would cook or spare a live lobester, O'Neil proposed a similar system to Kahn, who loved the idea.
So, A Death in the Family began in Batman #426, written by Starlin and illustrated by Jim Aparo. When Jason receives word that his missing mother is alive, he follows a set of leads across the world to find her, only to discover that she was being blackmailed by the Joker. Jason's mother hands him over to the Clown Prince of Crime, and that's how Batman #427 ends. On the back cover of that issue, DC ran a full-page ad, proclaiming: "Robin Will Die Because the Joker Wants Revenge, But You Can Prevent It With a Telephone Call" and giving two 1-900 numbers: one to call to save Jason, and one to kill him.
Two versions of issue #428 were written and drawn. One where Jason lived, and another, where he died. Both went into a drawer in O'Neil's desk, and the fans would choose which one would ever see the light of day.
The fans went rabid. One letter, published in Batman #428, read as follows:
"Dear Denny, I heard some of what you are planning for "A Death In the Family" story line, including the phone-in number wrinkle, and I don't want to take any chances whatsoever. Kill him. Your pal, Rich Kreiner."
From 9:00 in the morning on Thursday, September 15, 1988 until 8:00 in the evening on Friday, September 16, fans could call in to either of the two numbers for fifty cents a call and cast their vote. In the end, the votes were tallied: 5,271 voted for Todd to survive, and 5,343 voted for him to die. By a margin of 72 votes, Robin died in the pages of Batman #428, beaten to death with a crowbar by the Joker. The image of Batman cradling Robin's dead body became immediately iconic.

The Reaction

Fan reaction to the story was mixed, despite the seeming fervor for Todd's death and the blood that was on their hands. The letters pages for Batman #430 (1, 2) show a mixture of celebration over Jason's death, remorse over individuals' decisions to vote for death, and hope that Robin's absence would lead to more mature Batman stories in the future. However, every issue of A Death in the Family was a best-seller, and a collected edition was rushed out in early December of 1988, only a week after the final issue in the arc was released to stores.
But now that the fan feeding frenzy was (mostly) over, the media feeding frenzy had begun. You don't just kill Robin and get away with it without media attention. USA Today and Reuters ran articles on the story, and DC was besieged with interview requests from radio and TV stations.
O’Neil: I spent three days doing nothing but talking on the radio. I thought it would get us some ink here and there and maybe a couple of radio interviews. I had no idea—nor did anyone else—it would have the effect it did. Peggy [May], our publicity person, finally just said, “Stop, no more, we can’t do anymore,” or I would probably still be talking. She also nixed any television appearances. At the time, I wondered about that but now I am very glad she did, because there was a nasty backlash and I came to be very grateful that people could not associate my face with the guy who killed Robin. [1]
Internally at DC, there were suspicions that the vote had been rigged in some fashion.
O'Neil: "I heard it was one guy, who programmed his computer to dial the thumbs down number every ninety seconds for eight hours, who made the difference." [5]
But regardless of whether it was or not, Jason Todd was dead, and he would remain dead for as long as O'Neil stayed at DC - long enough for the phrase to be coined: "nobody in comics stays dead except for Uncle Ben, Bucky, and Jason Todd." But he wouldn't remain dead forever.

Legacy

Jason would be succeeded by a new Robin, less than a year after his death. In a crossover storyline between Batman and New Titans written by Marv Wolfman and illustrated by George Perez and Jim Aparo, entitled "A Lonely Place of Dying", the character of Tim Drake would be introduced. Unlike Todd and Grayson before him, Drake would challenge the assumptions made about the character of Robin - he figured out Batman's secret identity on his own, and deduced that Batman needed a Robin by his side, to ensure he wouldn't take unneeded risks.
Gone were the short pants of yesteryear - Drake wore a full-body suit with an armored cape, and was more of a detective than a fighter. He debuted to mixed reactions, although fans soon grew to love him under the pen of Chuck Dixon, who would be one of the major architects of Batman in the 1990s.
Todd would get a second chance at life seventeen years later. In 2005, writer Judd Winick wrote the storyline "Under the Hood," published in Batman #635-641, 645-650, and Annual #25. There, it's revealed that Todd returned to life thanks to an alternate version of Superboy punching reality (it's comics, don't ask) and the aid of R'as al Ghul's Lazarus Pits, and donned the identity of the crime lord the Red Hood in his quest for revenge against the Joker.
Todd, as the Red Hood, persists as a popular character today, a lasting symbol of Batman's failure, as he operates as a pragmatic vigilante, willing to take risks Batman isn't.
More recently, in July 2020, DC announced a Death in the Family animated interactive feature film in the vein of Black Mirror's "Bandersnatch" - again, viewers can choose whether Todd lives or dies, among other options.
Edit: fixed a typo.
submitted by WestFlashBestFlash to HobbyDrama [link] [comments]

M1 Plus Review

Intro:
Bought into M1 Plus from a $60/yr Promotion 2 months ago. I had an investment account already, and even one of the first spend accounts. I had declined the offer for M1 Plus at $125/yr.
This is a first review of M1 Plus after two months of use and a bit of a dive into the value of its features from a financial and user experience point of view.
Value:
This is a pretty simple one. Do the math. The interest vs. your other checking account multiplied by the amount of cash you’d be keeping in there for M1 Spend. If you’re borrowing from M1 too, the 1.5% difference (or whatever difference there is between M1 Borrow and your next best offer) multiplied by the amount of money you’d like to borrow. If all these add up to greater than whatever annual fee is offered, go for it.
Otherwise, it’d be a very expensive metal card. But if 4 waived ATM fees go a long way to save you money, that should be worth considering too, however, there are tons of cards and products that’ll waive said fees, some even for unlimited transactions and no upfront cost. Just because M1 is offering this benefit as part of a premium package doesn’t mean it’s impossible to find for free somewhere else.
XP:
It is a great experience. I constantly invest lumps of $500 into my portfolio all the time. It’s quick, easy, and immediately fulfilling. Not that other brokerages don’t do this. But M1 is clearly focused on showing you your long term progress on your investment goals. It uses a money weighted return formula so that you know how much your capital has been making you to easily compare to the return of bank accounts and investments. There’s a reason their product is called “Invest” and not “Trade”, more on that later. But this means it’s primarily suited for this purpose. During the Covid crash, I took to Robinhood to place my Put Options on the S&P because high frequency derivatives trading and M1 basically speak different languages. All this to say, it feels amazing to watch your investments accounts slowly creep up as you continue to dollar cost average into the market, but this has some drawbacks.
Pies. While fun and easy to build, mix and match, they are not a very common mechanic to implement on amateur portfolios. Selling stocks can be quite the process on M1, and the platform will try its darnest to discourage you from making any but the most basic adjustments to your portfolio. Its really only suited for the “set it and forget it” mindset, which is not to say you can’t mess around with your money as you please, but it’s just so perfect for investing and watching your money grow with a long time horizon. The plots will show you your progress and encourage you to keep a regular deposit schedule. But try trading into and out of a stock, or a set amount of shares, or even thinking about playing with derivatives and other financial instruments: slim pickings.
The numbers make a lot of sense, too. I’ve been investing for about 5 years now, and my latest craze has been leverage. I’ve read about how the optimal leverage ratio for the S&P on average was 2.0 or 100% levered up, and looked up the historical comparisons to corroborate. Shopping around for margin accounts and available capital, it’s tough to beat the 2% rates at the moment. I’ve been slowly levering up during the latest market rally to great effect and the low interest really pumps up those numbers. Having this much cheap capital, not just for leverage, but also for life is worth more than just the time value of money. I would make the point that this is made even more valuable by having all your financial services on the same platform, as you really get to do with your money as you please and move it around to withdraw it to your hearts content.
My real issue was with Spend. Not a problem with the product but myself, in trying to justify the annual fee. I weighed how much money it would make sense to keep in Spend as opposed to an online savings account. To keep cash a couple of months ago, it made more sense to opt for ally or marcus as they were offering close to 1.55% on cash. But as their rates have plummeted, getting 1.0% on a CHECKING account has been an absolute godsend in this crazy economy. This account works for just about anything with the notable exception of checks... in a checking account which I suspect is the reason for the “Spend” branding the product was marketed with. When it’s hard to even find 1% on a savings account, a 1% APY on checking is no-worries approach to cash investment.
Ultimately, having all of these balances displayed together on the Transfers tab is huge in terms of consumer experience. This, however, should not be a replacement for true “Dashboard” that could show an overview of all your money moves and account balances.
Ideas:
M1 Trade. Admittedly, I do see how this can be very contrary to the philosophy, product and experience that M1 has worked to create. That being said, thinking that your customer will always prefer to have their money invested into automatically allocated pies is a little short-sighted.
Opening a much more DIY Trading product on M1 would of course have them incur tons of costs in handling and verifying transactions of all the individual financial, but many places already offer such services for free, some are even profitable at it. An M1 Trade product would also need integrating the Invest product because regardless of what you’re doing on the platform, you still consider your money your investments and want to see it all together. Pies and individual Buys would have to play nice together, and that does sound like a difficult endeavor.
I keep a couple of accounts with different mixtures of my pies for all my purposes. I also handle the investments for a few of my family members, which will become relevant shortly. You can obviously set up as many accounts as you wish and move money into them as you desire, but this can get you into some warmer water. If two of your pies hold most the same securities and you just want to have a different pie for a different account, you’ll have to call up to pause trading so that your pies have a chance to get to know each other and not force you to sell and buy right back into the same assets just to incur the taxes. It’s a bit of a hassle, and I would argue, on purpose.
For Pies themselves, I often find myself wanting to make small tweaks to pies but then quickly let it go as removing slices would automatically trigger a massive sell off that incurs taxes. From a conversation with tech support, I gathered that the best way to do this was simply pause trading on your account, and change the pie you want all your money to go into. Editing pies is fine and easy, but completely swapping a pie for another one led me to believe that it would sell put of all my holdings even if the old and new pie had many of those same holdings. If this is me being stupid, good, if it’s a gap in features, I hope M1 lets you simply swap a pie for any other and gives you the option either sell everything, sell only what is 0 in the second pie, or sell nothing and simply continue aiming for the allocation of the new pie without touching your previous investments.
Lastly, an iPad app. I’m a big fan of the iPad and the iPad Pro in particular. I’ve found myself using it far more than my laptop which is now strictly reserved for long work sessions (I write and edit for a YouTube Channel) and watching content in groups of people (15” MBP Speakers are the stuff of legend). But for anything else, I subconsciously grab the iPad. It’s annoying to have the website be the best M1 experience on the iPad. I understand that making a compelling iPad investing app is its own mountain to climb, but a lot of the Mobile app’s functionality can be ported over without too much of a hassle. Charles Schwab has an iPad app based 99% on the iPhone app that still performs all the same functions, just on the bigger screen, which is the whole point of the iPad in the first place. While it’s not a top shelf iPad app (there are only a select few) the Schwab app is lovely and I’m begging M1 for anything that doesn’t force me to use my iPad in portrait mode to use a blown up iPhone app. Again, this app doesn’t have to be a world beater, just a decent looking and bigger version of the iPhone app that would go a long way to boost the M1 customer experience.
Closing Remarks:
Obligatory YMMV disclosure: it’s about the math, I won’t bore you with my own, but I was just over the line when it made sense for me to opt into the $60/yr promo.
That being said, M1’s value has been a lot about the experience. The future of finance is free. No brokerage should be making money on transaction commissions or administrative fees, it’s a relic from the before times when you needed people who knew people on wall street to do your trading. At this point its not even worth any perceived convenience.
The clever ones reading this will point out that, while true, many brokerages already offer a wide variety of free services. Many of them, even, that M1 doesn’t offer.
The true spirit of this review is to express my personal opinion on the value of M1 Plus and how the customer experience is its edge in the ebrokerage market. Rates are competitive, but it is a brand new way to consider finance and its role in your life and society.
TL;DR
Spend is pretty competitive for a checking account, and as long as you’re not using checks too often, its a no brainer for anyone with close to $10,000 in cash just sitting somewhere.
Invest is beautiful, but the free version is exactly as good, more windows means very little with the limited trading you’re allowed to do anyway.
Borrow is brilliant, hella flexible and competitive rates.
8/10 Would recommend to a friend.
submitted by TomasFCampos to M1Finance [link] [comments]

I bought six PRPL mattresses today. You should buy PRPL too (it's undervalued).

I bought six PRPL mattresses today. You should buy PRPL too (it's undervalued).
tl;dr: Buy PRPL stock, warrants (PRPLW) or calls based upon your preference. They are closing out a killer quarter and are undervalued. PRPL 22.5c 8/21 if you really need a strike.

I decided to appeal to both WSB audiences today with two different types of DD:
  1. A completely irrelevant story with some pictures and a position
  2. Numbers and Other Stuff

I bought six Purple Mattresses today.

Yep. I moved to Utah a few weeks ago (absolutely true) in order to do better DD for you in Purple's hometown (not true at all), so I decided to trek down to the Purple Factory Outlet to scope out the scene.
Purple Factory Outlet in a crappy part of Salt Lake - Sign on the door says \"NO CASH INSIDE\"
Family informed me they were coming to visit in three days (who does that to someone when they just moved!?!). My wife said we needed sleeping arrangements, so I said Purple mattresses.
After speaking with my Mattress Firm friend, he told me that Mattress Firm is entirely out of stock of twin mattresses in the Salt Lake City market (Purple's hometown). Worse, the mattresses aren't coming back as the original (the only mattress to come in twin) is being discontinued.

https://preview.redd.it/qd4u5bo3oy751.png?width=1242&format=png&auto=webp&s=3417ffb0eca481dbd797b67be2cb9c06c7a58a65
This is a screenshot of an internal Mattress Firm memo on the discontinuance of the Original Purple Mattress (the cheapest one by far) What can I say? He isn't a photographer.
  • The original is going away
  • Floor models are NOT to be sold as they are traffic drivers
https://preview.redd.it/tsevapzpoy751.jpg?width=3024&format=pjpg&auto=webp&s=04399eff4e38e98ad17fa55d6db0e511f799bc67
I figured the Purple branded store would have stock, if it existed. And because they are being discontinued, I didn't want to be left short-handed in the future. So, I walked out of the store with six Purple mattresses. And some pillows. And sheets. And mattress protectors. Aaaaaand because I took delivery, it counts towards Q2 revenue (the best part).
For all of those who will inevitably accuse me of pumping the stock, I admit that purchasing six mattresses will pump revenue and therefore pump the stock after earnings. Now, where are all of those people who asked me for a free mattress?

This was a sign.
Most importantly, when I pulled out of the parking lot, a purple Dodge Challenger zoomed right by me. I was barely able to get this zoomed in picture of it. This means PRPL stock is going to zoom up.
PRPL 22.5c 8/21. I bought ten of those contracts today too. It was cheaper than the mattresses.

Numbers and Other Stuff

I put forward that because Purple is a high revenue growth company, the best valuation metrics are revenue multiples (as opposed to EBITDA multiples or P/E ratios). You're welcome to debate this, but frankly, the forward looking EBITDA and Earnings look beautiful as well.
Additionally, I put forward that Enterprise Value / Revenue is superior to Market Cap / Revenue, but I'll let you do that research yourself.
From Yahoo Finance:
Enterprice Value / Revenue
Ticker As of 6/28/20 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1
PRPL 2.01 2.52 3.94 3.61 3.73 3.09
TPX 1.71 4.84 7.39 7.34 8.07 6.88
SNBR 0.98 2.36 4.40 3.79 4.97 3.78
CSPR 0.53 0.91
Yes, COVID has happened, but unlike TPX, SNBR or Serta Simmons Bedding (which just completed a pseudo-bankruptcy), Purple has actually benefited from COVID and its prospects have never looked better with a shift to higher revenue- and margin-per-unit DTC as well as insatiable demand from its wholesale partners.
PRPL is currently trading well below its own previous EV / Rev multiple range, despite accelerating revenue growth into Q2 with a healthy long-term outlook of holding an increase.
Additionally, PRPL is trading well below the pre-COVID norm for industry EV / Rev mutliples.
What about CSPR? CSPR is a total dumpster fire that is now drowning in IPO lawsuits. Its revenue growth has materially slowed, was awful in April forward looking (15% YoY growth vs 170% for PRPL), on declining margins. The cash burn rate for CSPR was high before COVID. They likely only have a few quarters left to live. I think they are overpriced as a result. CSPR is a bad comp even though there are similarities to the businesses at the 30,000 ft level.

Revenue Growth & Estimates (Q2 Estimates via Yahoo Finance)
Ticker My Estimate Q2 Low-Mid-High Estimates 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1
PRPL 201.7-233.3 170-180.1-186.9 Actuals 122.4 124.3 117.4 103.0 83.6
YoY % 46.3% 58.3% 65.8% 36.0% 37.7%
TPX 613-616.4-626.4 Actuals 822.4 871.3 821.0 722.8 690.9
YoY % 19.0% 32.9% 12.5% 7.9% 6.6%
SNBR 176.8-216.4-281.4 Actuals 472.6 441.2 474.8 356.0 426.4
YoY % 10.8% 7.1% 14.5% 12.6% 9.7%
CSPR 95.8-104.8-113.6 Actuals 113.0 126.9 89.4
YoY % 26.4% 24.3%* 24.3%* 24.3%*
A few items of note here:
  • CSPR disclosed the Last Twelve Months YoY growth as of 3/31 was 24.3% (which sucks for a revenue growth company that is burning cash)
  • PRPL accelerated its growth over the past year. It is massively accelerating again in Q2.
  • PRPL disclosed in an 8k that is has already booked about $145M in revenue for Q2, so the analysts' consensus estimates are WAY under. I gave my math and estimate for Q2 sales here. I still stand by the estimate that PRPL will beat $200M in revenue this quarter, especially since I just bought six mattresses.
  • Now compare the barely double digit growth numbers of TPX & SNBR over the past year to PRPL. Now compare the EV / R multiples. Something is off.
  • PRPL may very well beat SNBR in revenue for Q2 (due to SNBR's high reliance on wholesale sales).

Summary: PRPL's EV / R multiple is under where is should be, even in this market, whether you compare it to its own previous multiples or its competitors before they were affected by COVID. If you look at COVID EV / R multiples, it is in-line with companies who are materially struggling with cash flow and growth... this couldn't be further from the truth. PRPL is undervalued.

Analyst Price Targets

I don't usually give these guys much weight, but for those of you who do:

https://preview.redd.it/h13nnc7zxy751.png?width=531&format=png&auto=webp&s=f36406c5e43cd7e07757ba6459dbff5665b7e525
Marketbeat (and a few others) are inaccurately showing a lower consensus price target because they are using some very old price targets.

https://preview.redd.it/qxgstjh4yy751.png?width=1359&format=png&auto=webp&s=af9d185d18ad3db9c3bc8f44c6acecc729cc6d1a
As you look at the 7 price targets MarketBeat is using to build a consensus price target, two of them are from last year, which is ridiculously old (it's about time you update this Bank of America--you got your underwriting--now do your job). Wedbush was after earnings, but before the recent 8-K on Q2 revenue.
I put forward that the only targets that matter are those that adjusted to the 8-K revenue announcement. The consensus there is $19.75. This only matters if you follow these types of things.

Today's Price Action

I admit that this post would have been more relevant early this morning when I started writing it (the numbers part).
The price spiked late afternoon because of the attention drawn to it by a CNBC interview by CEO Joe Megibow.
https://www.cnbc.com/video/2020/06/29/purple-ceo-on-the-popularity-of-mattresses-as-americans-stay-at-home.html
In the interview, he doesn't share anything really new (for those of us who closely follow), but he does emphasize that PRPL doesn't have a return rate problem, unlike others (*cough* CSPR *cough*).

Q2 EPS / EBITDA Estimates

PRPL has generated $70M in cash during April and May, which is insane for a stock that has generated Adjusted EBITDA in the 6.2-15.3M range over the last four quarters. The quarter isn't even done yet.
I'm not putting an EPS estimate on this because the amazing cash generation is going to be partially offset by a fairly large warrant liability expense adjustment. It will likely be one of the final expense adjustments we see as the secondary offering triggered a strike price drop to zero, which is one of key things the liability expense was modelling. Regardless, warrant liability expense doesn't deserve to be an expense as the warrants themselves are already built into fully diluted EPS, which is what everyone reports. The FASB done messed up on this one.

Technical Astrology & PRPL Patterns

IMO, most technical analysis is confirmation bias at best. Here's some confirmation bias.
https://preview.redd.it/5kviazrs0z751.png?width=1166&format=png&auto=webp&s=56c8daaa52c4af31c66c9821e57e40b9362b1bcd
If you are into this type of thing, PRPL has been a series of Bull Flags since the bottom of COVID. We are now ending our fourth bull flag (which likely ended today). At least this is what stocktwits and a few other areas are raving about.
Intraday Patterns
The intraday patterns are more interesting to me. I've been watching this security fairly closely over the last 3 months since the COVID bottom, and on most days, you'll see a spike in the morning that fades away into the afternoon. It is almost like clockwork and seems to be irrespective of volume.
While I don't trade this pattern because I don't want to exit my long-term capital gains positions yet, some of PRPL gang makes money by buying in the morning (or afternoon before), selling/shorting at the peak, and then closing/buying late afternoon. Good on them!
Also, PRPLW warrants tend to lag the stock on the way up if you want to play that too.

What is your next play after PRPL?

I've already mentioned several times that I will fully exit my warrants (and rotate into some PRPL stock / long dated options) when the stock price reaches about $24. My inbox has been bombarded with questions about what my next play is.

https://preview.redd.it/t56ziwe42z751.png?width=1161&format=png&auto=webp&s=4ccef0051c2f1740d1c8059f1cb2a16188f7435c
The above chart is a comparison between CSPR and PRPL. CSPR, even though it is a total dog, has been riding up with PRPL on sympathy plays. CSPR spikes on PRPL news, conference presentations, and any other movement.
PRPL has reasons to be up. CSPR shouldn't be any higher than where it was after its last earnings release. The only new things that have occurred are dozens of IPO lawsuits.
I'll be shorting CSPR for somewhere between $100k-$500k if I end up exiting my PRPL positions before CSPR earnings and if this stupid pattern holds. It's free money.

Positions

I've got tons of warrants (closing in on $2M worth) and now 10x PRPL 22.5c 8/21.

Do your own due diligence. This is not investment advice of any kind.
submitted by lurkingsince2006 to wallstreetbets [link] [comments]

Unusual Option Activity for Aug-26-2020 - STM, SE (C), AMD (C)

Context -
The S&P 500 (+1.0%) and Nasdaq Composite (+1.7%) rallied to fresh record highs on today, propelled higher by some eye-popping gains in the mega-cap stocks. The Russell 2000 was left in the dust with a 0.7% decline.
Highlighting a few of the moves: Salesforce (CRM 272.32, +56.27, +26.0%) surged 26% following its earnings report, Facebook (FB 303.91, +23.09, +8.2%) rose 8% on no news, and Netflix (NFLX 547.53, +56.95, +11.6%) rose 11% on no news. Apple (AAPL 506.09, +6.79, +1.4%) and Tesla (TSLA 2153.17, +129.83, +6.4%) were fueled by a pair of Street-high price-target increases.
Today’s leadership came from the S&P 500 communication services (+3.7%), information technology (+2.1%). In the afternoon, the gains broadened out to the materials (+1.0%), industrials (+0.1%), and consumer staples (+0.1%) sectors.
Declining issues outnumbered advancing issues at the NYSE and Nasdaq by a comfortable margin. The biggest laggards were found within the energy (-2.2%), utilities (-1.2%), and real estate (-0.7%) sectors.
Durable goods orders increased 11.2% m/m in July (consensus +3.9%), and Moderna (MRNA 70.50, +4.25, +6.4%) said its COVID-19 vaccine generated a promising immune response in ten elderly patients.
For some perspective on today's record-setting performance, the S&P 500 finished the day up 58.7% from its March 23 low, up 7.7% for the year, and 13.0% above its 200-day moving average (3079). The latter raises the risk for a technical correction, although the momentum in the market can go on for longer than expected.
The U.S. Dollar Index declined 0.1% to 92.91. WTI crude futures increased by 0.1% to $43.39/bbl.
Investors will receive the weekly Initial and Continuing Claims report, the second estimate for Q2 GDP, and Pending Home Sales for July on Thursday.
Index Summary -
S&P 500 +1.0%; Nasdaq +2.13%;
DOW +0.29%; Russell 2000 -0.63%
VIX: 23.27 1.24,( +5.63%)
Sector Summary -
The three highest sectors for today were :
Communication Services +3.42%; Information Technology +2.03%; Materials +1.05%;
The three lowest sectors for today were :
Energy -2.11%; Utilities -1.11%; Real Estate -0.69%;
Commodities -
Gold - 1921.3,( -0.09%); Crude - 43.19,( -0.37%)
Today’s Option Activity Fast Facts -
CBOE Put/Call Ratio - 0.42
Highest Multiple Over Daily Average - BOX with 17 x the ADV of 2756. There were 36698 calls and 9645 puts.
Ticker with Most Contracts - NIO with 1330223 contracts traded today with an AVD of 322440. There were 1036099 calls and 294124 puts.
Largest Put / Call Ratio - ALBO with a 49.0 P/C ratio. There were 14603 puts and 298 calls.
Largest Call / Put Ratio - STM with a 98.36 C/P ratio. There were 57247 calls and 582 puts.
\Stocks must be >$6, Highest Multiple must have >1k ADV, Largest ratios must have an option volume >10k*
Recap -
PDD 89.24 +2,(+2.29%)
NIO 20.44 +2.6,(+14.57%)
AMGN 250.16 +1.94,(+0.78%)
LI 23.3 +5.07,(+27.81%)
You can find yesterday's post here.
MOMENTUM UNUSUAL OPTION ACTIVITY -
First Momentum Stock Pick -
Ticker : STM 30.91 +0.72,(+2.38%) Earnings : 2020-10-22
Name : STMicroelectronics NV
Industry : Semiconductors, Sector : Electronic Technology
Option Information -
Today’s Option Volume: 57829, OptionOI: 140872
Multiple of ADV: 6, ADV: 9349
Total Calls: 57247, Total Puts: 582
Calls at Ask: 75.4%, Calls at Bid: 14.0%
Puts at Ask: 9.1%, Puts at Bid: 82.0%
C/P Ratio: 98.4
Notable Strikes :
SEP 18 '20 30.0 C had 1526.0 VLM and 0 OI.
OCT 16 '20 30.0 C had 1438 VLM and 0 OI.
NOV 20 '20 30.0 C had 1976 VLM and 4400 OI.
News :
Potential Sympathy Stocks for STM
TXN, NXPI, ADI, MXIM
My Impression :
The Calls at Ask %, Multiple of ADV, and C/P ratio looks extremely bullish. The Semi-Conductor sector has seen a lot of aggressive buying over the past few weeks. This was a pick on July 15ths post. This stock increased initially after it was mentioned and has now declined. I think I will likely invest in this one again tomorrow.
CLASSIC UNUSUAL OPTION ACTIVITY -
First Classic UOA Stock Pick -
Ticker : SE 159 +4.87,(+3.16%), Earnings : 2020-11-18
Name : Sea Ltd. (Singapore)
Sector : Technology Services, Industry : Internet Software/Services
Option Information :
2020-09-18 185.0 C - 1,200 @ 2.85 were traded at 11:37 as a BLOCK Spot Price: 161.62
News :
No new news today.
Potential Sympathy Stocks for SE
WMB, EPD, ENB, SRE
Second Classic UOA Stock Pick -
Ticker : AMD 86.01 -0.34,( -0.39%), Earnings : 2020-10-15
Name : Advanced Micro Devices, Inc.
Sector : Electronic Technology, Industry : Semiconductors
Option Information :
2020-09-18 95.0 C - 1,238 @ 1.80 were traded at 09:38 as a BLOCK Spot Price: 86.58
News :
2020-08-26 07:04:46 - The Value vs Growth Dilemma for Intel, Nvidia and AMD
No summary available.
2020-08-25 17:35:36.383000 - AMD Q2 Earnings: The Company Gained Market Share in All CPU Markets
For years AMD was known as the little low-cost competitor of Intel. For people who cared looking into details, AMD processors often delivered better performance per dollar but in the end, who said…
Potential Sympathy Stocks for AMD
INTC, NVDA, TXN, MCHP
Upcoming Events for Next Trading Day -
Here you can find a full list of tomorrow's events with explanations.
Thanks for reading.
DISCLAIMER – These are my observations that I have made at the end of each day and trades that I am considering placing or watching. I am not responsible for your financial losses if you follow any of these trades. As always, do your due diligence.
Company Summary : STM
STMicroelectronics NV designs, develops, manufactures and markets products, which offers discrete and standard commodity components, application-specific integrated circuits, full custom devices and semi-custom devices for analog, digital and mixed-signal applications. It operates through the following segments: Automotive and Discrete Group, Analog and MEMS Group, and Microcontrollers and Digital ICs Group. The Automotive and Discrete Group segment comprises of all dedicated automotive ICs, and discrete and power transistor products. The Analog and MEMS Group segment comprises of low-power high-end analog ICs, smart power products for industrial, computer and consumer markets, touch screen controllers, low power connectivity solutions and metering solutions for smart grid and all MEMS products. The Microcontrollers and Digital ICs Group segment comprises of general purpose and secure microcontrollers, EEPROM memories, and digital ASICs. The company was founded in June 1987 and is headquartered in Plan-Les-Ouates, Switzerland.
Company Summary : SE
Sea Ltd. (Singapore) is an internet and mobile platform company. The firm engages in the provision of online gaming services. It operates through the following segments: Digital Entertainment, E-Commerce and Digital Financial Services. The Digital Entertainment segment offers access to game-related content through game forums, group voice chat, live streaming, and other user socializing functions on the Garena mobile app and desktop application. The E-Commerce segment manages third-party marketplace through Shopee mobile app and websites that connects buyers and sellers. The Digital Financial Services segment includes financial services to individuals and businesses, including e-wallet and payment services through the AirPay mobile app and AirPay counter applications on mobile phones or computers. The company was founded by Xiao Dong Li, Gang Ye and Jing Ye Chen on May 8, 2009 and is headquartered in Singapore.
Company Summary : AMD
Advanced Micro Devices, Inc. engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services. The Enterprise, Embedded and Semi-Custom segment includes server and embedded processors, semi-custom System-on-Chip products, development services and technology for game consoles. The company was founded by W. J. Sanders III on May 1, 1969 and is headquartered in Santa Clara, CA.
submitted by noentic to u/noentic [link] [comments]

5. The Difference Between Margin and Futures - Kraken Futures Coping with Margin Calls in Futures and Options Trading Stock Options vs. Futures Options Comparing Futures Margin to Regulation T Understanding Futures Margin  Fundamentals of Futures ...

For margin trading, you need to pay a specific amount of money called margin money. The margin requirement for stocks, futures, options and currencies differ from each other. However, the underlying principles remain the same: you are borrowing money from your broker to leverage your investment and get higher returns. Let’s discuss with an Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein. Futures vs. Options: Similarities. No margin, no service. Futures trading and options trading require margin accounts. This doesn’t exclude IRAs entirely, but a third-party custodian for the Secondly, like Forex trading, there’s a tremendous amount of leverage in trading futures. The day trading margin requirements can give you a leverage of 100:1 and overnight margins can use leverage as high as 25:1 and as low as 6:1. There are definitely some advantages for trading futures vs. options. Margin trading and futures trading are popular trading options on the cryptocurrency platform. Besides spot trading and these two trading options, it is possible to provide you with a higher return…

[index] [75] [2339] [1028] [2535] [2809] [2134] [1562] [1010] [2426] [1079]

5. The Difference Between Margin and Futures - Kraken Futures

DayTradingRadio.com 2019 Legal Disclaimer and Full Risk Disclosure; http://benefits.daytradingradio.com/disclaimer/ Brought to you by www.daytradingradio.com... Tom Sosnoff and Tony Battista are joined by Tom Preston as they discuss the difference between Futures Margin and normal Regulation T margin. Tom Preston breaks down how SPAN, futures margin, and ... In this video, Joshua Martinez goes over the difference between Initial and Intraday margin, for trading futures. Different trading brokers have different requirements for trading the market ... Like many derivative products, futures can be confusing when you’re trying to understand how changes in the underlying security affect changes in futures pri... - Margin trading allows for up to 5x leverage. You are trading on the spot market. - Futures trading allows for up to 50x leverage. You are buying or selling 'contracts', which mirror the spot...

#