Samsung Electronics expects continued chip boom after record second quarter profit

Samsung Electronics Co Ltd said a memory chip boom that propelled it to record profit in the second quarter is likely to continue in the third, just as revenue is widely expected to benefit from sales of OLED screens to Apple Inc.

 

The world's biggest maker of memory chips, smartphones and TVs is set to smash its annual profit record after better-than-forecast performance in its mobile business lifted April-June profit slightly above its early-July guidance, analysts said.

More news, Samsung Electronics expects continued chip boom after record second quarter profit

Related post, Samsung Electronics Co Ltd (KRX : 005930) - TIme to Sell ?
 
Source :
1) www.reuters.com

WTI Crude Oil - Update 22 July

Daily chart.

Recap, in the last update dated on 16 July. it stated that the continuation of upward trend requires relatively above average or higher volume to breakthrough the resistance zone.

On 19 July, the price action successfully closed within the resistance zone associated with relatively above average volume. The following day, it managed to break above the zone but failed to close above it. 

Then came the following news on Friday, 21 July - after a tanker-tracking firm reported supply from OPEC is rising.

OPEC's July oil supply was set to rise by 145,000 barrels per day (bpd) compared to June, Reuters reported citing data from PetroLogistics, a company that tracks OPEC supply forecasts. The increase in oil supply would push production above 33 million barrels per day.

Higher supply from Saudi Arabia, the United Arab Emirates (UAE) and Nigeria would drive this month's gains, according to PetroLogistics.

More news, US crude tumbles 2.5%, settling below $46, after report of rising OPEC oil output 

Take note that the overall price action is still weak - death cross situation.

Note : S-Trader indicators/tools are not part of Metastock software package. It is our proprietary system/tools. If you have any further inquiries, please feel free to Contact Us. 

Source : 
1) Metastock
2) www.cnbc.com
3) Reuters

Macau Casino Stocks - More Upside ?

Recently, Reuters reports that the revenues in the world's biggest casino hub of Macau jumped nearly 30 percent in June, posting an 11-month winning streak, as demand from high-roller VIPs accelerated despite a corruption crackdown.

Monthly gambling revenue in the Chinese special administrative region rose 25.9 percent to 20 billion patacas ($2.49 billion) and analysts were expecting growth of 23 percent to 33 percent.

Related post, Macau casinos post 11th month of gains on VIP resurgence

Daily chart of Wynn Macau Ltd (HKSE : 1128)

Daily chart of Melco International Development Ltd (HKSE : 0200)

Daily chart of MGM China Holdings Ltd (HKSE : 2282)

Daily chart of Sands China Ltd (HKSE : 1928)

Daily chart of SJM Holdings Ltd (HKSE : 0880)

Daily chart of Galaxy Entertainment Group (HKSE : 0027)

Note : S-Trader indicators/tools are not part of Metastock software package. It is our proprietary system/tools. If you have any further inquiries, please feel free to Contact Us. 

 Source : 
1) Metastock
2) www.reuters.com

Macau casinos post 11th month of gains on VIP resurgence

Revenues in the world's biggest casino hub of Macau jumped nearly 30 percent in June, posting an 11-month winning streak, as demand from high-roller VIPs accelerated despite a corruption crackdown.

Monthly gambling revenue in the Chinese special administrative region rose 25.9 percent to 20 billion patacas ($2.49 billion), government data showed on Saturday. Analysts were expecting growth of 23 percent to 33 percent for Macau, the only place in the country where gambling is legal.

Revenues have rebounded after a more than 2-year tumble triggered by Chinese President Xi Jinping's attack on corruption, with a revival in appetite from high-rollers and mass gamblers.

Operators are cautious about the resurgence of VIP revenue, which is highly volatile compared to the more stable flows from mass market customers.

VIP punters are typically brought in by middlemen known as junket companies. While the VIP sector contributes just over half of Macau's total casino revenues, junket patrons have been subject to greater legal scrutiny due to concerns over money laundering.

Source : 
1) www.reuters.com

Floating Storage For Oil Reaches 2017 High As Traders Employ Aging VLCCs

Outdated supertankers are becoming the storage units of choice for commodity traders looking to take maximum advantage of the new oil price crater, according to a new report by Reuters.

Brokers who spoke to Reuters said roughly 10 very large crude carriers (VLCCs) aged between 16 to 20 years have been employed as excess crude storage since the end of last month. Each unit holds 2 million barrels of oil.

Thirty other supertankers are parked in Singapore and Malaysia's Linggi, largely due to a market condition called contango - where oil futures are more expensive than an order for immediate delivery.

More news, Floating Storage For Oil Reaches 2017 High As Traders Employ Aging VLCCs


Source : 
1) www.oilprice.com

US STOCKS - Wall St lower as tech slide resumes

Technology shares were under pressure yet again on Thursday, pulling lower all the 3 major Wall Street indexes, as investors fretted about bloated valuations.
The technology sector has risen 16.7% this year, far outperforming other sectors and giving investors a chance to lock-in gains.

The tech-heavy Nasdaq Composite has also surged 13.7%, compared with the S&P 500's 8.2% gain for the year.

More news, Wall St lower as tech slide resumes

Source : 
1) www.reuters.com

U.S. recession remote in next 12 months: Deutsche Bank

Chances are remote the US economy will fall into a recession in the next 12 months despite a recent flattening of the US yield curve suggesting growing recession risk, Deutsche Bank's economists said on Monday.

Based on other bond market indicators, they estimated the probability of a US recession from now to June 2018 at less than 10%.

This compared with the yield curve, or the gap between long-dated and short-dated yields, which currently implies roughly a 33% chance of a recession.

More news, U.S. recession remote in next 12 months: Deutsche Bank


Source :
1) www.reuters.com

WTI Crude Oil - Crashes Into $40's As Hedge Funds Sell Off

Oil prices fell fast on Friday afternoon as traders see the rising rig count as yet another sign that the markets are still grossly oversupplied.

Detailed news, Oil Crashes Into $40’s As Hedge Funds Sell Off 
 
Prior to the decline, there were two articles which caught my attention. 

The first one was reported on 11 April 2017 raising the concern on oil majors' dilemma - how quickly should they seek to replenish reserves ?

For detailed news, Oil majors' reserves are shrinking and investors don't mind

Followed by report on 18 April 2017, Citigroup Inc. joined Goldman Sachs Group Inc. in backing commodities, saying it's the season to have faith in raw materials and oil will probably rally to the mid-$60s by the end of the year.

For more news, Citi Sees Oil Surging $10 as OPEC Combats Roaring U.S. Shale

For those who followed this blog, a question was raised on 13 April 2017 in the post - Does the price action has momentum to go higher ?
 
Daily chart of West Texas Intermediate (WTI) Crude Oil.

Here is the latest S-Trader Trend Tracker resistance and support levels.
Resistance = USD 52.77
Support      = USD 49.38


Source :
1) Metastock 
2) www.oilprice.com
3) www.reuters.com
4) www.bloomberg.com