Tabcorp Demerger

Posted on | by Leon Hinde

Tabcorp split into two businesses yesterday:

  • A wagering business, which will continue to be called Tabcorp (TAH)
  • And a lotteries business, new name The Lottery Corporation (TLC). 

Bitcoin – Sell Signal

Posted on | by Leon Hinde

The rebound in the NASDAQ has been sharp and it’s possible we’re now looking at a level of overhead resistance. For crypto investors, this provides an opportunity to consider hedging or an outright short position.

The strategy requires a stop loss which means any short exposure is closed out if the market rally continues.

7/4/22 update: BTC-USD has rolled over and the technical setup remains negative.

23/4/22 update: The NASDAQ continues to move lower reflecting a risk-off sentiment, which is also impacting Bitcoin. BTC is under Algo Engine sell conditions and we remain short Bitcoin futures as an open trade.

26/5 update: Bitcoin has continued to trade lower and we now identify the overhead resistance at 30590 as the first level to watch for a potential price reversal. Since flagging the “short” setup in Bitcoin on 7 April, the crypto has lost 15,000 in the move from 45,000 down to 30,000.

AMD – Q1 Earnings

Posted on | by Leon Hinde

In Q1 AMD delivered a 71% increase in revenue to $5.9bn on EPS of $1.13, beating consensus estimates. The Q2 outlook is for revenue to increase further to $6.5 billion.

For the full year, 2022 management expects $26bn, or 60% growth compared to 2021.

AMD’s acquisitions of Xilinx and Pensando should see expanded revenue growth from new industries.

Berkshire – Algo Buy

Posted on | by Leon Hinde

Berkshire is now betting on Citigroup as new management takes over.

Berkshire has spent recent years revamping its bank bets. It reduced JPMorgan and Goldman Sachs investments while maintaining Bank of America and US Bancorp. The long-term holding in Wells Fargo has been cut.

The company also added a $US2.61 billion exposure to Paramount.