PrevPreviousHow Kickstarter Creators Are Coping with the Coronavirus — Kickstarter The trading frenzy that has propelled the shares of AMC Entertainment Corp. up more than 600% in the year to date may have saved the cinema operator from… The decision has sparked fierce backlash from users and lawmakers. The Washington residence vacated by former White House senior advisers Ivanka Trump and Jared Kushner is back on the real estate market. For $18,000 a month, tenants can live in the six-and-a-half bathroom home at 2449 Tracy Pl., MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO Gasoil) in the main world hubs) slightly decreased on Jan.28: 380 HSFO – USD/MT – 365.37 (-0.86) VLSFO – USD/MT – 460.94 (-0.98) MGO – USD/MT – 516.85 (-1.40) Correlation between the Market Bunker Price Index (MBP) vs MABUX …
For Elliott Wave Trader, it is necessary to have a good Elliott Wave tools for your trading. It is because Elliott Wave theory is not easy to be completed manually. However, once you understand its trading principle, Elliott Wave can advance your trading performance pretty fast. They do provide the great approach to solve the geometric puzzle in the forex and stock market. We provide two Elliott Wave tools in MetaTrader 4 platform.
MetaTrader 4 is one of the most popular trading platform since 2010. It is accessible for free of charge for any trader from all over the world. We provide two powerful Elliott Wave Indicators for this platform. Hence, you have two choice in selecting Elliott Wave Indicators for your trading. These tools are already used by thousands professional trader in day to day operation.
1. Elliott Wave Trend for MetaTrader 4
Elliott Wave Trend is extremely powerful Elliott wave indicator. This indicator allows you to perform Elliott wave counting as well as Elliott wave pattern detection. All these are the essential steps in predicting market with Elliott Wave theory. On top of them, it provides built in support and resistance system and turning point strength indicator to improve your trading performance. Yet, there are many additional features for you to explorer inside this technical indicator.
2. X3 Chart Pattern Scanner for MetaTrader 4
X3 Chart Pattern Scanner is specialized tools in detecting the chart patterns including Harmonic Pattern and Elliott Wave Patterns, and more more patterns. Pattern detection process is fully automatic + you can even create customized Elliott wave and Harmonic patterns if you wish. Yet, this is only short summary though, you can find out more information and its features from product page. It is very unique and powerful tool in the world of trading.
In summary, both tools are the high performance trading system. However, if you want to use Elliott wave trading exclusively, then you should go for Elliott Wave trend. If you do not mind both Elliott Wave and Harmonic Pattern Trading, then you should use X3 Chart Pattern Scanner.
Trading frenzy in AMC stock may stave off bankruptcy but cinema operator still faces years of recovery
The trading frenzy that has propelled the shares of AMC Entertainment Corp. up more than 600% in the year to date may have saved the cinema operator from bankruptcy but the company is still facing formidable challenges after being hammered by the coronavirus pandemic.
Like the other names caught up in this speculative frenzy, AMC has had a high level of short interest as a percentage of the float, which stood at about 69% according to latest data, although a share sale on Monday will take that percentage down.
Don’t miss: It isn’t just GameStop: Here are some of the other heavily shorted stocks shooting higher
The stock of the world’s biggest cinema chain, soared another 250% on Wednesday, making it the biggest gainer on major U.S. exchanges. With volume ballooning to more than 1 billion shares, the stock was also the most actively traded on the day, even though there was no fresh news driving the move.
AMC has just seen out a year during which many of its theaters were in lockdown or operating at limited capacity and major studios refrained from releasing new blockbusters. The outlook for 2021 is not much better, according to Eric Schiffer, chief executive and chairman of Patriarch Organization and Reputation Management Consultants, and a restructuring expert.
See also: GameStop, AMC trading is now being restricted at TD Ameritrade, Schwab
“Most people would not want to put themselves in an indoor space for hours when there are variants (of the coronavirus-illness COVID-19) that vaccines may not even inoculate against,” said Schiffer. “The viability of the business prior to the market’s inflation of the stock hasn’t altered the calculus. If they do survive, it won’t be the same business. It will take years for them to recover back to where they were.”
AMC took advantage of the steep rise in its share price by opportunistically tapping equity and debt markets, raising another $917 million this week that Chief Executive Adam Aron described as the sun shining on AMC.
“I have 917 million reasons to be a smiling man,” Aron told MKM analyst Mike Hickey. “It gets us deep into 2021. With any kind of partial recovery of the movie theater industry, this will get us all the way through 2021. Imminent bankruptcy is completely off the table. We believe we have the runway we need to get through this pandemic.”
Mike O’Rourke, chief market strategist at JonesTrading, noted this week that AMC’s market capitalization of $5.6 billion is nearly double what it was prior to the pandemic. At the same time, its share count has climbed to 337 million from 58 million in October.
“Management deserves credit for opportunistically taking advantage of the environment to gather the resources to stave off bankruptcy,” he wrote.
AMC did not respond to email and phone requests for comment. The Securities and Exchange Commission declined comment. GameStop hasn’t responded to a request for comment.
Schiffer said the company still needs to pay its bills and manage its network of 1,000 theaters and 11,000 screens worldwide. The company posted an almost $1 billion loss in the third quarter as revenue dwindled to $119.5 million from $1.317 billion in the year-earlier period. Its loss per share was about double what Wall Street was expecting, as reopening efforts were choppy at best.
So, is this Reddit investor group backing the wrong horse?
“This is certainly not rational, these are the markets of stone cold crazy times, powered by the Fed,” said Schiffer. “Investors are chasing returns because rates are so low…you’re going to see periods that appear wacky…and AMC is grossly overvalued because of a marauding of shorts that’s powered by the internet and these aggressive traders acting in packs…. This is the power of the internet,” he said.
AMC Networks also has a high percentage of short interest as a percentage of the float, at about 60%, according to FactSet.
AMC Networks has had no fresh news of late apart from its intention to issue $1 billion of bonds to replace more expensive debt with cheaper debt.
Don’t miss: Stop laughing about GameStop’s stock mania — no, really
Author: Ciara Linnane
Robinhood restricts trading in GameStop, drawing criticism from lawmakers
Robinhood and other major trading platforms on Thursday restricted trading of GameStop and other popular stocks that have skyrocketed this week and triggered anxiety on Wall Street. The decision sparked fierce backlash from smaller investors and lawmakers, questioning the legality of the restrictions.
In a statement, Robinhood said it was “restricting transactions for certain securities to position closing only.” Other trading platforms, including Investment Brokers and Charles Schwab, took similar steps to restrict trading. It’s unclear how long the restrictions on each platform will last.
Smaller investors flocked to a Reddit discussion board, called Wallstreetbets, to encourage users to buy GameStop and other stocks to push prices up higher. In the past month, GameStop shares rose nearly 2,000%. Hours after the Robinhood announcement, GameStop’s shares were down 44%.
Robinhood said other popular stocks would be affected, including American Airlines, AMC Entertainment, Bed Bath & Beyond, Blackberry, Nokia, Express Inc., Koss Corp., Tootsie Roll and Naked Brand Group.
Later Thursday, Robinhood said it would begin allowing “limited buys of these securities” starting Friday. “We’ll continue to monitor the situation and may make adjustments as needed,” the company said in a statement. “To be clear, this was a risk-management decision, and was not made on the direction of the market makers we route to.”
Interactive Brokers said it had placed AMC, GameStop and other popular stocks into “liquidation only due to the extraordinary volatility in the markets.”
“We do not believe this situation will subside until the exchanges and regulators halt or put certain symbols into liquidation only,” the firm said in a statement. “We will continue to monitor market conditions and may add or remove symbols as may be warranted.”
The decision sparked immediate criticism by lawmakers — both Democrats and Republicans. Representative Alexandria Ocasio-Cortez called on the House Financial Services Committee to investigate the restrictions placed by Robinhood and other trading platforms.
“This is unacceptable,” Ocasio-Cortez tweeted Thursday. “We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.”
Senator Ted Cruz retweeted her, saying, “Fully agree.”
Representative Ro Khanna, a Democrat from Silicon Valley, said there needs to be “more regulation and equality in the markets.”
“While retail trading in some cases, like on Robinhood, blocked the purchasing of GameStop, hedge funds were still allowed to trade the stock,” Khanna said in a statement. “Instead of investing in future technologies to help America win the 21st Century, Wall Street poured billions into shorting this stock to crush this company and put workers out of business. The future of this country lies in that access and equality across every sector of our economy.”
Author: By Zoe Christen Jones, Justin Carissimo
Trump-Kushner DC home on real estate market
The Washington residence vacated by former White House senior advisers Ivanka Trump and Jared Kushner is back on the real estate market.
For $18,000 a month, tenants can live in the six-and-a-half bathroom home at 2449 Tracy Pl., a house described as having an “older” exterior with a “very modern” interior. The residence is in the neighborhood of Kalorama, which boasts inhabitants such as former President Barack Obama and Vice President Kamala Harris.
In his listing of the property, agent Rodrigo Valderrama praised the former residents.
“They were great, punctual, superb tenants,” said Valderrama. “They were very good in every way.”
In the days since former President Donald Trump’s departure from office, most members of the former first family have since made plans to migrate to the area surrounding Mar-a-Lago, the retreat sometimes described as the “Winter White House” during Trump’s time in office.
Trump and his wife, former first lady Melania Trump, settled into life at Mar-a-Lago, both establishing offices to carry on their post-White House affairs. Trump’s eldest son, Don Jr., and youngest daughter, Tiffany, were spotted house hunting in the surrounding area with their respective significant others.
Ivanka Trump and Kushner relocated to a condo in Miami that boasts a 75-foot heated indoor lap pool, a private rooftop tennis court, a fitness center, a children’s playroom, and a residents’ lounge.
MABUX: Bunker market this morning, Jan.29, 2021
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO Gasoil) in the main world hubs) slightly decreased on Jan.28:
Correlation between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Jan.28 showed undercharging of 380 HSFO bunker grades in Rotterdam (-18USD), Singapore (-14USD) and Fujairah (-2USD). At the same time, in Houston MBP is corresponds to DBP. VLSFO is overcharged in all 4 hubs in range of 4-21USD. MGO LS remained undervalued in all ports except of Houston (+ 9 USD).
Meantime, world oil indexes demonstrated slight downward changes on Jan.28.
Brent for March settlement decreased by $0.28 to $55.53 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March fell by $0.51 to $52.34 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.19 to WTI. Gasoil for February delivery lost $4.75.
Today oil indexes are mixed as slowing fuel demands was balanced by a pending supply cut by Saudi Arabia and lower U.S. oil stocks.
Saudi Arabia is set to cut output by 1 million barrels per day (bpd) in February and March, and compliance with output curbs by OPEC+ has improved in January. The Saudi cut effectively means OPEC+ supply cuts will increase from 7.2 million bpd in January to 8.125 million bpd in February. A 9.9 million barrel drawdown in U.S. oil inventories last week and forecasts for a small drop in U.S. oil production in February are also helping support the market.
However there are worries about stalled vaccine rollouts and the spread of contagious new variants of the coronavirus – South African variant has reached the United States. Concerns about a flood of new cases in Israel despite its success in vaccinating its population, and vaccine distribution issues in Europe and the United States as discouraging. This may lead to protracted lockdowns in Europe. At the same time, the market awaits of J&J vaccine to be approved sometime next week.
Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping