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.