Archives for July 10, 2017

Donald Trump Jr.: I ‘had to listen’ to Russian lawyer who promised dirt on Clinton

Donald Trump Jr. in his third statement on his meeting last June with a Russian lawyer who promised damaging information about Hillary Clinton, who would soon be the Democratic presidential nominee, tweeted that he “had to listen” after the lawyer had made such assurances.

“Obviously I’m the first person on a campaign to ever take a meeting to hear info about an opponent,” he tweeted. “Went nowhere but had to listen.”

The meeting is now center stage in the ongoing Russia controversy that has engulfed the Trump administration.

The story broke on Saturday, when The New York Times revealed the existence of the meeting among Trump; Paul Manafort, then the campaign’s chairman; Jared Kushner, now a senior White House adviser and President Donald Trump’s son-in-law; and Natalia Veselnitskaya, a Kremlin-connected lawyer.

Donald Trump Jr. said in an initial statement Saturday that the June gathering at Trump Tower “was a short introductory meeting” that focused on “a program about the adoption of Russian children that was active and popular with American families years ago and was since ended by the Russian government.”

But on Sunday, The Times reported in a follow-up story that Veselnitskaya had promised Trump damaging information about Clinton. The Times cited three advisers to the White House who were briefed on the meeting and two others with knowledge of it.

Although it was unclear whether Veselnitskaya produced any information, the sources who spoke with The Times said she was expected to provide it.

In Trump’s second statement, he confirmed that the meeting was taken on the premise that Veselnitskaya had such information — and that the adoption issue was not what he believed was the purpose of the meeting.

“After pleasantries were exchanged, the woman stated that she had information that individuals connected to Russia were funding the Democratic National Committee and supporting Ms. Clinton,” Trump said. “Her statements were vague, ambiguous, and made no sense. No details or supporting information was provided or even offered. It quickly became clear that she had no meaningful information.

“She then changed subjects and began discussing the adoption of Russian children and mentioned the Magnitsky Act,” he said. “It became clear to be that this was the true agenda all along and that the claims of potentially helpful information were a pretext for the meeting. I interrupted and advised her that my father was not an elected official, but rather a private citizen, and that her comments and concerns were better addressed if and when he held public office.”

He said the meeting lasted about 20 or 30 minutes, there was no follow-up, and that his father “knew nothing of the meeting or these events.”

Some Trump allies echoed Donald Trump Jr. and said the meeting was no different than what all campaigns do in collecting opposition research.

“Newsflash? Campaigns of all stripes collect dirt on opponents,” tweeted Jeffrey Lord, who was an official in the Reagan administration and is Donald Trump’s staunchest advocate on CNN. “It’s called ‘oppo research’ as in ‘opposition.’ HRC and Dems did to Trump.”

Others did not have that rationale.

“This was an effort to get opposition research on an opponent in an American political campaign from the Russians, who were known to be engaged in spying inside the United States,” Richard Painter, who served as President George W. Bush’s top ethics lawyer from 2005 to 2007, said Sunday on MSNBC. “We do not get our opposition research from spies, we do not collaborate with Russian spies, unless we want to be accused of treason.”

The meeting is the first confirmed private meeting between top Trump staffers and Russians during the campaign. It was first disclosed to government officials in recent days by Kushner, who The Times said filed a revised security-clearance form.

Robert Mueller, the special counsel appointed in May after Donald Trump abruptly fired FBI Director James Comey, is overseeing the FBI’s investigation into whether members of the Trump campaign colluded with Russian officials to meddle in the election. Congress is conducting a separate investigation into the matter.

2 Ways Investors Like You Can Profit From Bitcoin

 1000%, 2000%, 3000%, and higher returns are common in the emerging cryptocurrency market. Just last week, a trader posted screen shots showing him turning a $380 speculative bet into over $1 million in less than an hour. While this was a one-in-a-billion stroke of luck, other truly massive longer-term returns are easier to obtain and are making many investors wealthy.

And now there is a way for stock market investors like you to participate in this crazy market without leaving the comfort of your existing broker.

 

Once thought of as the province of hackers, cyber-pirates, and radical libertarians, cybercurrencies are quickly moving into the mainstream. Names like Bitcoin, Etherium, and Ripple are being bandied about, not only on the internet and financial press, but by major banks and financial institutions as they explore ways of utilizing these borderless forms of money.

 

What Is Cryptocurrency?
Cryptocurrency is a catchall term that refers to digital or virtual means of exchanging or storing money. Cryptocurrency functions under a decentralized model, meaning that it does not require a central bank or government entity to create or regulate it.

 

Instead, it is self-governing via a system known as the blockchain, which is a public ledger of every transaction ever conducted in chronological order. Every user downloads the ledger, creating full transparency that helps to reduce fraud. Transfers are carried out via private and public keys for security.

 

Wait A Minute, How Is Fraud Avoided?
Sounds like a hacker’s delight, right? Well, the truth is that it is challenging to defraud a block chain.

The way it works is that each block’s hash (line of seemingly random numbers and letters) is created from the hash of the prior block, thereby confirming the block and every subsequent block. If someone tried to fake a transaction, everyone would know since the block’s hash would change and be instantly recognizable as fake. Simply put, any currency that does not follow the rules will be rejected by the network.

 

Transactions via blockchain can be conducted with a large degree of efficiency, which means minimal fees for users. Prices are based purely on supply and demand, leading to the extreme volatility in each cryptocurrency’s price against other currencies.

 

The Most Popular Cryptocurrency
The most popular cryptocurrency is Bitcoin. Bitcoin was first launched in 2009 with a near-zero value. It quickly gained a following and a value of a few cents. These days, its price has soared into the $3000 per coin zone.

Today there are around 15 million Bitcoin in existence with a total value of around $3.5 billion. Bitcoin are created in a process known as mining. Miners use computers to solve increasingly complex math problems and are awarded Bitcoin for their effort.

The total number of bitcoin is capped at 21 million and mining them becomes increasingly difficult over time. It’s this stroke of genius that assures the value of the currency, rather than a central authority controlling the supply.

 

How Can Stock Investors Participate?
An attempt by the Winklevoss twins of Facebook fame to launch a Bitcoin ETF ( COIN ) was shot down by the SEC last month. However, a second attempt at approval has been started and is pending with the SEC. I strongly think that COIN or a similar ETF will eventually be approved for trading in the United States. It’s just a matter of time.

While we wait for the ETF, a company known as Grayscale has successfully launched a Bitcoin Investment Trust (OTCMKTS: GBTC) on the QTCQX exchange, the top-tier OTC exchange.

Instead of setting up a separate Bitcoin account, investors can participate in the volatile world of Bitcoin via GBTC. The shares track the Bitcoin market price minus fees and expenses via the TradeBlock XBX Index 24-Hour VWAP.

In case you are concerned about the security of the underlying assets of the shares, the Bitcoin Investment Trust’s assets are stored with Xapo, Inc., in deep cold storage vaults. Bitcoin stored in the Xapo Vaults reside on multi-signature addresses, the private keys for which are protected by intense cryptographic, physical, and process security.

Each share of GBTC represents 0.09289 of a Bitcoin, and the trust manages assets of about $389 million. It’s important for investors to note that there is a 2% annual fee assessed by the trust.

Bitcoin represents a great way for stock traders to diversify their holdings with the potential of monster gains over time.

Risks To Consider: Bitcoin and the other cryptocurrencies are extremely volatile and trade in an unproven market. Multiple unknown factors create an outsized risk that is only suitable for those willing to lose their entire investment.

Action To Take: A great opportunity is inherent within the high risk of Bitcoin and the other cryptocurrencies. Stock traders should explore diversifying a small amount of their portfolio in the sector via GBTC and the pending COIN ETF.

Analyst Favorites With Strong Buyback Activity: DigitalGlobe

 A study of analyst recommendations at the major brokerages shows that DigitalGlobe Inc (Symbol: DGI) is the #97 broker analyst pick among those stocks screened by The Online Investor for strong stock buyback activity. To make that list, a stock must have repurchased at least 5% of its outstanding shares over the trailing twelve month period. In forming the rank, the analyst opinions from the major brokerage houses were tallied, and averaged; then, the list of stocks with strong buyback activity was ranked according to those averages.

According to the ETF Finder at ETF Channel, DGI makes up 2.70% of the SPDR S&P Aerospace & Defense ETF ( XAR ) which is trading up by about 1.2% on the day Friday.DGI operates in the Communications Services sector, among companies like AT&T Inc ( T ) which is off about 0.5% today, and China Mobile Limited ( CHL ) trading higher by about 0.9%. Below is a three month price history chart comparing the stock performance of DGI, versus T and CHL.

DGI,T,CHL Relative Performance Chart
DGI is currently trading up about 0.6% midday Friday.

Analyst Favorites: Ternium Ranks As a Top Metals Pick

 A study of analyst recommendations at the major brokerages shows that Ternium S A (Symbol: TX) is the #16 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index , according to Metals Channel . The Metals Channel Global Mining Titans Index is comprised of the top fifty global leaders from the metals and mining sector. The companies listed in the Metals Channel Global Mining Titans Index are not fixed, but instead variable – updating on a continuous basis to reflect the changing market environment with respect to commodity prices, government policy and market volatility.
From the other direction, when companies have a low rank among analysts, it isn’t necessarily the case that investors should conclude that the stock will perform poorly. It can, of course, but a bullish investor could also take the contrarian angle and read into the data that there is lots of room for upside because the stock is so out of favor.

According to the ETF Finder at ETF Channel, TX makes up 8.62% of the Steel ETF ( SLX ) which is trading lower by about 1.6% on the day Friday.TX operates in the Non-Precious Metals & Non-Metallic Mining sector, among companies like Vale SA ( VALE ) which is down about 1.3% today, and POSCO ( PKX ) trading up by about 0.2%. Below is a three month price history chart comparing the stock performance of TX, versus VALE and PKX.

TX,VALE,PKX Relative Performance Chart
TX is currently trading off about 1.1% midday Friday.

TOT Stock Crowded With Sellers

In trading on Friday, shares of Total SA (Symbol: TOT) entered into oversold territory, changing hands as low as $48.15 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Total SA, the RSI reading has hit 28.5 – by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 42.8, the RSI of WTI Crude Oil is at 39.2, the RSI of Henry Hub Natural Gas is presently 36.8, and the 3-2-1 Crack Spread RSI is 54.3. A bullish investor could look at TOT’s 28.5 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.Looking at a chart of one year performance (below), TOT’s low point in its 52 week range is $45.05 per share, with $54.71 as the 52 week high point – that compares with a last trade of $48.18. Total SA shares are currently trading down about 1.4% on the day.

Total SA 1 Year Performance Chart
According to the ETF Finder at ETF Channel, TOT makes up 9.70% of the First Trust Indxx Global Natural Resources Income ETF (Symbol: FTRI) which is trading relatively unchanged on the day Friday.

Notable Two Hundred Day Moving Average Cross – EXTN

In trading on Friday, shares of Exterran Corp (Symbol: EXTN) crossed below their 200 day moving average of $25.23, changing hands as low as $25.12 per share. Exterran Corp shares are currently trading up about 0.2% on the day. The chart below shows the one year performance of EXTN shares, versus its 200 day moving average:

 

Exterran Corp 200 Day Moving Average Chart

Looking at the chart above, EXTN’s low point in its 52 week range is $11.87 per share, with $34.05 as the 52 week high point – that compares with a last trade of $25.70.According to the ETF Finder at ETF Channel, EXTN makes up 2.68% of the PowerShares Dynamic Oil & Gas Services Portfolio ETF (Symbol: PXJ) which is trading lower by about 1.4% on the day Friday.