Wonder what traders are talking about today?
We’re here with the top 10 stories we’re sharing with colleagues today, covering topics like:
- Why traders are betting big on the QQQ ETF
- Tuesday’s mega-rally in gold, which could be a sign of things to come
- The mysterious world of bitcoin and other cryptocurrencies
And more!
So check out these links right now and get up to speed:
1) ETF Buyers Have a New Go-To Fund for Chasing the Tech Rally (Bloomberg)
After a stellar run in tech stocks this year, some ETF investors are cashing in their chips. Others are trying their luck with a new hand.
2) Jeff Cooper: Why the Gold Explosion May Boom Bigger (T3 Live)
The precious metals miners were the big story on Tuesday.
And I think it’s the beginning of a bigger move.
3) Santander Rescues Troubled Rival in Test of Europe’s New Rules (NY Times)
After the global financial crisis, Europe built a system designed to contain the collateral damage from failing banks. That new system appeared to pass its first test on Wednesday, as authorities efficiently dispatched a troubled Spanish lender.
4) The Quiet Master of Cryptocurrency — Nick Szabo (The Tim Ferris Show)
Nick Szabo is a polymath. The breadth and depth of his interests and knowledge are truly astounding.
He’s a computer scientist, legal scholar, and cryptographer best known for his pioneering research in digital contracts and cryptocurrency.
5) Tesla gives a shadowy tease of the Model Y crossover SUV (Engadget)
It’ll take a few more years before Tesla officially launches the Model Y, but we now kinda, sorta know what it could look like.
6) SEC Takes More Time to Mull Chicago Stock Exchange's China Deal (NY Times)
The U.S. Securities and Exchange Commission will take up to another 60 days to decide whether to allow the sale of the Chicago Stock Exchange to a group of investors led by China-based Chongqing Casin Enterprise Group.
7) Rob Smith: Why Does VXX Always Go Down?
If you’re in the market these days, you know that everyone’s talking about the incredibly weak VIX.
And while the VIX remains near all-time lows, interest in trading the VIX ETN’s (exchange traded notes) — especially VXX, UVXY, and TVIX — is at an all-time high!
8) Theresa May's Incredible Shrinking Poll Numbers (The Atlantic)
As early as January, the Economist had dubbed her “Theresa Maybe” for her lack of any clear strategy on Brexit and habit for backing off key promises, not least the election itself. But this was more than just a nickname now. Her ineptitude had become the main event.
9) James Comey testifies before Congress: 5 things to watch (CBS News)
James Comey is set to testify publicly before Congress for the first time on Thursday since President Trump fired him as FBI director last month.
Comey’s appearance has been highly anticipated as countless bombshells involving the lead-up to and aftermath of his termination have leaked in the news media over the last month.
10) Retailers might turn parking lot dead space into biz opportunity (NY Post)
Faced with shrinking sales, mall operators, big box stores — like Target, Lowe’s, Home Depot, Macy’s and JCPenney — and other anchor tenants have started to reimagine their acres of unused parking lots as redevelopment opportunities that could create new revenue streams, The Post has learned.