Friday, August 16, 2019

Germany : DAX

The DAX is a blue chip stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange.


Thursday, August 15, 2019

Solar stocks

  • TAN  Invesco Solar ETF 

(by market cap)                

Ticker       Company name Mkt Cap
  • FSLR  First Solar   6.502B
  • SEDG  Solaredge Technologies  4.02B
  • ENPH  Enphase Energy  3.907B
  • JKS   JinkoSolar  3.22B
  • ORA  Ormat Technologies   2.83B
  • TERP   TerraForm Power  2.38B
  • SPWR  SunPower 1.77B 
  • RUN  Sunrun  1.73B
  • CSIQ   Canadian Solar   1.37B
  • VSLR  Vivint Solar 895.12M
  • SOL  ReneSola Ltd. (ADR) 32.74M
  • OTCMKTS: YGEHY    Yingli Green Energy  3.23M
  • DQ   Daqo New Energy   13.29B    556.44M    ????
  •  –  –  –  –  –  –  –  – 
  • TSL   Trina Solar –  taken private (8/1/16)
  • SCTY  SolarCity  –  acquired by Tesla (TSLA)  (6/21/16)
  • SUNE Sunedison   –  taken private
  • JASO JA Solar    –  taken private

Wednesday, July 24, 2019

Marijuana news

See also :  marijuana stocks
As of Aug. 2019, nine states and Washington, D.C., have legalized recreational marijuana, while 29 states have legalized medical weed.
  • 8/19:  GW Pharmaceuticals (GWPH) has just revealed that sales of its Epidiolex drug topped Street expectations by over 50% ($68 million vs. $44 million) and doubled Q1 ($34 million).  GWPH recently launched Epidiolex, its flagship product, in the U.S. for congenital seizure syndromes known as Dravet and Lennox-Gastaut Syndrome. Given the drug’s favorable efficacy/safety profile, the significant unmet need, and positive physician feedback, investors had every reason to be hopeful. 
  • 8/02/19 Cronos Group (CRON) : agreed to buy parts of a company that makes premium hemp-derived CBD skin care products in the U.S., representing the latest effort by Canada's pot industry to stake out territory in the world's largest marijuana market.  Cronos said it would pay $300 million to acquire four subsidiaries of Redwood Holding Group, which makes and sells CBD skin care and other products under the brand name Lord Jones. Lord Jones sells and makes CBD-based body lotions, oils, bath salts, gum drops and other edibles. Outlets like Sephora sell those products.  Cronos already has a relationship with U.S. cannabis retail chain MedMen (MMNFF).
  • 7/31/19:  Canada-based cannabis name CannTrust (CTST) said it will undergo a strategic review, which includes a possible sale. This follows a C-suite shakeup earlier this month following media reports of illegal grow rooms. CTST stock jumped 9.5% on the news. (MarketWatch)
  • 7/25/19: Sweden's Supreme Court rules that cannabidiol (CBD) oil made from industrial hemp containing any amount of the psychoactive compound tetrahydrocannabinol (THC) is a drug. The ruling effectively bans the retail sale of CBD oil in the country.
  • 7/12/19: Innovative Industrial Properties (IIPR) announces public offering of 1.25 mln shares of common stock. The company intends to use proceeds to invest in specialized industrial real estate assets that support the regulated cannabis cultivation and processing industry that are consistent with its investment strategy as well as for general corporate purposes.
  • 7/7/19: Canopy Growth (CGC) Founder Bruce Linton was ousted from his role as co-CEO. He did a great job scaling the largest cannabis company in the world, but Constellation Brands (STZ) sought a more sound operational manger for the next phase of growth at its multi-billion dollar cannabis investment.
  • 7/12/19: CannTrust (CTST) implements voluntary hold on sale and shipment of all cannabis products as a precaution while Health Canada visits and reviews its Vaughan, Ontario manufacturing facility. CannTrust placed a hold on medical sales through their customer service line and online as of 11:59 p.m. on July 10. CannTrust is working closely with the regulator through the review process and expects to provide further detail of the duration of the hold and other developments as they become available.  CannTrust announced that it was non-compliant with certain regulations in Canada
  • 5/21/19: Aphria (APHA) completes German tender process and receives fifth culitvation license in Germany.  Co announced that its German subsidiary Aphria Deutschland GmbH had been awarded a fifth lot for the cultivation of medical cannabis in Germany as part of the Company's previously awarded license from the German Federal Institute for Drugs and Medical Devices.   The additional lot was provisionally awarded to Aphria Germany in April and was secured following a review by a German court, which affirmed the original decision by the BfArM.
  • 4/10/19:  Aurora Cannabis Inc. (ACB) announced an update on the status of Aurora Sun, the Company's latest and largest Sky Class facility, which is currently under construction in Medicine Hat, Alberta. To support rapidly growing global demand for high-quality medical cannabis in Canada and abroad, the facility will be expanded to 1.62 million square feet, representing a 33% increase from its originally planned 1.2 million square feet. With the Sky Class production philosophy proven at Aurora Sky, the Company is confident in projecting an expected production capacity at Aurora Sun in excess of 230,000 kg of high-quality cannabis per annum.
  • 3/21/19: CVS (NYSE:CVS)  is selling some cannabis-based products in eight states, Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee. Cannabidiol, or CBD, is the non-psychoactive element in marijuana. The pharmacy chain said the available products include topicals such as creams, sprays and lotions, but will not sell any CBD-containing supplements or food additives. CVS said the products comply with applicable laws.
  • 2/26/19: Aurora Cannabis (ACB) to acquire a 51% ownership interest in Gaia Pharm. The co announced that it has agreed to terms to acquire a 51% ownership interest in Gaia Pharm Lda., a license applicant in Portugal, to establish a local facility to produce medical cannabis and derivative products. The company will be renamed "Aurora Portugal Lda". On February 21, 2019, Gaia Pharm Lda. received approval of its application to construct an EU GMP compliant cannabis cultivation facility from INFARMED, a division of the Portuguese Health Ministry, which is responsible for the evaluation, authorization, regulation and control of human medicines as well as health products for the protection of public health.
  • 12/20/18: The 2018 Farm Bill, signed by President Donald Trump, legalized hemp.

Friday, June 28, 2019

ETF month and year-to-date performance

Note the collapse in equity markets at the end of 2018 makes the year-to-date gains look really strong.
 The S&P 500 hit a new all-time high last week, but the index is essentially flat since hitting new highs nine months ago.

Sector/industry/index ETF (descending MTD) MTD, YTD as we wrap up the second quarter
  • Oil services OIH +12.69% +5.06%
  • Semis SMH +12.37% +26.47%
  • Materials XLB +10.71% +15.60%
  • Biotech XBI +10.06% +21.85%
  • Oil USO +8.38% +24.48%
  • Technology XLK +8.33% +25.65%
  • Energy XLE +8.04% +10.71%
  • Gold GLD +7.91% +9.76%
  • Cons. Discretionary XLY +7.33% +20.26%
  • Industrials XLI +7.23% +19.95%
  • Nasdaq 100 QQQ +7.10% +20.77%
  • Transports IYT +7.04% +13.90%
  • DJIA DIA +6.92% +13.81%
  • Russell 2000 IWM +6.55% +16.07%
  • S&P 500 SPY +6.23% +17.01%
  • Financials XLF +5.84% +15.58%
  • Retail XRT +5.74% +3.32%
  • Healthcare XLV +5.72% +6.66%
  • Oil/gas E&P XOP +5.72% +2.05%
  • Software IGV +5.67% +25.60%
  • Emerging mkts EEM +5.16% +9.60%
  • Silver SLV +5.02% -1.27%
  • Cons. Staples XLP +4.28% +14.20%
  • Comm. Services XLC +4.23% +18.90%
  • Internet FDN +3.93% +22.90%
  • Utilities XLU +2.09% +12.38%
  • Long Bond TLT +0.88% +9.45%
  • Real Estate XLRE +0.58% +18.32%

Today's Data

  • WTI crude: -1.7% to $58.38/bbl
  • Gold: +0.1% to $1413.05/ozt
  • Copper: -0.5% to $2.71/lb
  • EUR/USD: +0.1% to 1.1373
  • GBP/USD: +0.3% to 1.2698
  • USD/CNH: UNCH at 6.8708
  • USD/JPY: UNCH at 107.79

Metals Settlement Prices:
  • Aug gold settled today's session $1.50 higher (+0.1%) at $1413.05/oz
  • Sept silver settled today's session $0.05 higher (+0.3%) at $15.34/oz
  • Sept copper settled $0.01 lower (-0.4%) at $2.71/lb
Agriculture Settlement Prices:
  • July corn settled $0.19 lower (-4.3%) at $4.26/bushel
  • July wheat settled $0.20 lower (-3.7%) at $5.26/bushel
  • July soybeans settled $0.11 higher (+1.2%) at $9.05/bushel
    • Grains took a hit today following the release of the USDA annual acreage and quarterly grain stocks reports
    • Maybe the most notable data was in the corn data. The USDA showed that corn acres planted is expected to come in at 91.7 mln acres this year, way above analyst expectations of about 87 mln
    • In the most recent monthly WASDE report, the USDA cut corn acres planted by 3 million acres to 89.8 million acres
    • However, the acreage report comes out of a different agency in the USDA and the acreage report is not an update to the monthly WASDE report, so the number today was a big surprise
Energy Settlement Prices:
  • July Crude Oil futures fell $0.99 (-1.7%) to $58.38/barrel
    • REMINDER: Big OPEC meeting on Monday and Tuesday
    • A key topic will be whether to extend the OPEC+ production cuts into the second half of 2019
  • July Natural Gas settles $0.02 lower (-0.9%) at $2.31/MMBtu
  • July RBOB Gasoline settled $0.02 lower (-1.0%) at $1.89/gallon
  • July Heating oil futures settled $0.02 lower (-1.0%) at $1.94/gallon

Friday, June 14, 2019

Misery index (unemployment + inflation) tumbles to 1960s level without Fed rate cuts

U.S. consumers are in their best position in more than half a century even before the Federal Reserve considers interest-rate cuts, according to Yoav Sharon, a money manager at Driehaus Capital Management LLC. Sharon cited a version of the misery index, the sum of inflation and unemployment rates, in a Twitter post Thursday. He looked at the core consumer price index, excluding food and energy, which was 2% higher in May than a year earlier. Adding last month’s jobless rate brought the misery index to 5.6%, the lowest since 1966.

Sunday, June 2, 2019

Cannabis (marijuana) stocks

As of Aug. 2019, nine states and Washington, D.C., have legalized recreational marijuana, while 29 states have legalized medical weed.

The MJ ETF peaked when recreational cannabis went into effect in the fall of 2018 after staging a massive run leading up to the highly anticipated event.

Since then, the onus has been on companies to deliver. Most of them have begun reporting enviably strong sales growth, but the euphoric valuations had priced in a generous amount of future success.

The cannabis market is still nascent and the THC and CBD markets have tremendous long-term potential. Headwinds in the form of regulations and capacity constraints appear to be abating as the industry starts to mature. The growth outlook remains very promising.

See also :  marijuana news

ETFs (by avg daily vol)  
(see below for a detailed comparison)  
  • MJ   ETFMG Alternative Harvest ETF  457K
  • THCX The Cannabis ETF   73K
  • YOLO  AdvisorShares Pure Cannabis ETF 50K
  • TOKE  Cambria Cannabis ETF   24K
  • CNBS  Amplify Seymour Cannabis ETF 15K
  • (Toronto:HMMJ  Horizons Marijuana Life Sciences Index ETF 176K)

Stocks (by market cap)                
Ticker       Company name Mkt Cap
  • CGC  Canopy Growth  11.359B; Ontario, Canada
  • ACB  Aurora Cannabis  6.648B; Edmonton, Canada; medical cannabis products. As of September 2018, it had eight licensed production facilities, five sales licenses, and operations in 18 countries.  
  • CRON  Cronos  4.698B; Toronto, Canada
  • GWPH    GW Pharmaceuticals  4.46B; UK-based
  • TLRY  Tilray  4.146B; BC, Canada
  • APHA  Aphria  1.531B; Ontario, Canada
  • IIPR  Innovative Industrial Properties  1.286B; acquires industrial properties and rents space to marijuana growers.
  • HEXO  HEXO Corp.  1.171B; Quebec-based 
  • OGI  Organigram  842.522M; Canada; The company’s stock began trading on the Nasdaq on May 21, 19. Previously it was traded in Canada and over the counter in the U.S.
  • KSHB  KushCo  440.088M; California; packaging supplies, vaporizer cartridges, heating technologies, batteries
  • CTST  CannTrust  361.912M; Ontario, Canada
  • CRBP  Corbus Pharmaceuticals   340.604M
  • NBEV  New Age Beverages  298.774M; Denver, Colorado
  • ZYNE   Zynerba Pharmaceuticals   260.90M;  Developes next-generation transdermal cannabinoid therapeutics. Using the non-euphoric CBD, Zynerba wants to improve the lives of patients affected by rare neuropsychiatric conditions.
  • PYX  Pyxus Int'l  140.531M; Morrisville, North Carolina; Tobacco company with a minor investment made in a few cannabis operators.
  • KERN  Akerna  102.477M; Orlando, Florida
  • SNDL Sundial Growers   Aug 1, 19 IPO

OTC Markets
The majority of U.S.-based cannabis companies and many foreign American Depository Receipts (ADRs) trade over the counter (OTC).  The over-the-counter markets typically have decreased liquidity and larger spreads compared to the large U.S. exchanges. 
  • CURLF  (OTCMKTS)  Curaleaf  2.939B; Wakefield, Massachusetts
  • CRLBF (OTCMKTS) Cresco Labs  1.058B; Chicago, Illinois
  • CWBHF (OTCMKTS)  Charlotte's Web  647.919M; Boulder, Colorado
  • TGODF  (OTCMKTS) The Green Organic Dutchman 644.674M; Mississauga, Canada
  • ACRGF   (OTCMKTS) Acreage Holdings  526.485M; NYC-based
  • CVSI  (OTCMKTS) CV Sciences  409.426M;  Nevada-based
  • ORHOF  (OTCMKTS)  Origin House  387.251M; Ottawa, Canada;  Invests in the legal cannabis sector, prefers to take majority stake in companies. 
  • MMNFF (OTCMKTS) MedMen Enterprises  351.475M; Culver City, California
  • GGBXF  (OTCMKTS)  Green Growth Brands  324.663M; Toronto, Canada; Offers cannabis, tetrahydro cannabidol, cannabidiol, and cannabis-infused consumer products, as well as technology and consulting services for the cannabis industry. As of June 12, 2019, it operated 50 Seventh Sense branded botanical therapy shops.
  • SPRWF  (OTCMKTS)  The Supreme Cannabis Company  296.619M  Toronto, Canada
  • CURR (OTCMKTS) CURE Pharmaceutical  154.265M; Oxnard, California
  • NXTTF   (OTCMKTS)  Namaste Technologies  125.366M; Vancouver, Canada
  • VVCIF (OTCMKTS)  VIVO Cannabis  113.304M; Canada 
  • TRTC  (OTCMKTS)  Terra Tech 54.163M; Irvine, California
  • IMLFF  (OTCMKTS)  InMed Pharmaceuticals  43.592M; Vancouver, Canada; develops cannabinoid-based therapies
  • CBDS  (OTCMKTS)  Cannabis Sativa  37.865M; Nevada; skin care products used to relieve pain for sore muscles, joints, arthritic, and back pain; 
  • CANN  (OTCMKTS)  General Cannabis  28.998M; Denver, Colorado

Horizons Marijuana Life Sciences Index ETF - Canada

Canada Marijuana Stocks
Canada's marijuana stocks launched their invasion of U.S. exchanges in February 2018, when Cronos Group (CRON) became the first straight-up pot company to list on the Nasdaq. In the months since, recreational pot use turned legal in Canada and seven other Canadian pot producers piled into U.S. exchanges competing to pick up mainstream credibility and a lot more investor cash.

Canopy Growth stock followed Cronos Group, listing on the New York Stock Exchange in May 2018. Canopy has since become the world's most valuable weed company, with a market capitalization of $9 billion.

Last July, Tilray followed, via an IPO — making it the first weed company to debut exclusively on a U.S. exchange. Every other Canadian pot producer trading on a U.S. exchange also trades in Canada.

Aurora Cannabis (ACB) listed on the NYSE in October, and Aphria (APHA) in November. Hexo hit the NYSE American in January. CannTrust landed on the NYSE in February, but CannTrust stock crashed after running afoul of regulators. Organigram (OGI) listed on the Nasdaq in May.

The companies can list on the U.S. platforms because they don't violate federal law in their own country.

Marijuana ETFs

Tuesday, March 19, 2019

Market update: key market catalysts (19 March 2019)

SPY daily and monthly

$SPX last 5 sessions

1.  Bank of America/Merrill Lynch fund manager survey
  • Latest survey showed allocation to equities is at its lowest since September 2016.  Implies many fund managers have missed/trailed the 2019 rally effort and will need to play catch up, providing more fuel to keep the rally going.
2.  Green shoots of economic optimism
  • Economic sentiment in Germany was better than expected in March and employment trends in the UK were also better than expected, highlighted by the lowest unemployment rate (3.9%) since 1975, according to Reuters.
  • The reassuring data helped stoke the narrative that the global economy may be bottoming (or has bottomed), which has driven buying interest in cyclical sectors.
3.  Ongoing leadership from the semiconductor stocks
  • This industry group is regarded as having leading indicator status, so it resonates as a positive marker that the Philadelphia Semiconductor Index is up 21.9% year-to-date, including today's 1.4% gain.
  • Strength in the semis has been a key source of support for the information technology sector (+0.3%), which is the market's most heavily-weighted sector.
4.  Frontrunning the Fed
  • The stock market knows the Fed is on its side at the moment.  On Wednesday, it expects the FOMC to reinforce that position by holding the fed funds rate steady and reiterating a patient mindset. 
  • This expectation, and the speculation that the dot plot will show a reduced rate-hike projection for 2019 (the median estimate in December called for two rate hikes), and that the Fed could announce a plan regarding the timing for ending its balance sheet runoff, have helped keep selling interest in check.

President Trump hosts Brazil’s new leader

Today, President Trump welcomed the recently elected President of Brazil, Jair Bolsonaro, to the White House.

President Bolsonaro’s election marked a historic opportunity for the United States and Brazil—the two largest democracies in the Western Hemisphere—to build a new partnership focused on increased prosperity, strong security, and national sovereignty.

Perhaps most important, Brazil is a crucial ally in President Trump’s stand against the corrupt, socialist Maduro dictatorship in Venezuela. President Bolsonaro reiterated that Brazil stands with Venezuelan Interim President Juan Guaido, as well as with the democratically elected National Assembly and the Venezuelan people in their fight against tyranny.

“The twilight hour of socialism has arrived in our hemisphere,” President Trump said from the Rose Garden this afternoon. “And hopefully, by the way, it’s also arrived—that twilight hour—in our great country.”

“I have always admired the United States of America,” President Bolsonaro added. “And this sense of admiration has just increased after you took office.”

President Trump said he will designate Brazil as a major non-NATO ally during the visit of Brazil's President Jair Bolsonaro to the White House. Argentina is the only other South American country with that designation.

President Jair Bolsonaro, left, presents Donald Trump with a Brazil national football jersey after the US leader gave him a US soccer team shirt