Author Archives: Rick Pendergraft

A Repeal Of Net Neutrality Could Undo The Net Gains Of The Tax Bill

On December 14, the Federal Communications Commission is scheduled to debate regulations that were put in place just two years ago. At the heart of the hearing is whether the internet should be treated as a utility for communication or an information service. This might not seem like a big deal, but trust me it is. As it stands right ...

Read More »

End of November Brings Several Firsts for Spyders

With November trading coming to a halt and with the indices moving higher and higher, several things happened that had never happened before for the SPDR S&P 500 ETF (NYSE: SPY). First, the Spyders have gained ground in each of the last 13 months, the longest monthly winning streak ever for the original U.S.-based ETF. The Spyders started trading in ...

Read More »

Supreme Court Case Could Change The Landscape Of Sports Betting

Early in December the United States Supreme Court is set to hear the case of Christie v. NCAA. In legal terms, the case is founded on the Tenth Amendment and the Commerce Clause, but at the core of the argument is the Professional and Amateur Sports Protection Act (PASPA) of 1992. The NCAA, NFL, MLB and other sports leagues argue ...

Read More »

Potential for Tax Reform Could Prevent Year End Selloff

With the bulk of stocks enjoying a rise this year and many stocks and indices near or at all-time highs, under normal circumstances, it would make sense for investors to take some profits off the table. However, with the possibility of tax reform seemingly certain, at least in some form, many investors may choose to hold on until after the ...

Read More »

Venezuela In Default

Back at the end of October I wrote an article on Venezuela and how close the country was to default. The title of the article was “Venezuela Averts Default, But For How Long?” That question has now been answered, it took 16 days. According to S&P Global Ratings the South American country defaulted on a payment Monday after the 30-day ...

Read More »

Sentiment Toward Oil Running High

Oil prices have been surging in the last four and a half months with the price of West Texas Intermediate Crude vaulting above the $57 a barrel price earlier this week and that is the highest the price has been since June ’15. We see on the weekly chart how the price just moved above the consolidation area in the ...

Read More »

Do Cryptocurrencies Gain Credibility From Bitcoin Futures Listing?

Cryptocurrencies seem to be all the rage in investing right now. Bitcoin is the oldest of the cryptocurrencies and hit an all-time high this week after the Chicago Mercantile Exchange announced plans for a futures contract by the end of the year. CME Group CEO Terry Duffy stated, “Given increasing client interest in the evolving cryptocurrency markets, we have decided ...

Read More »

‘Dovish’ Rate Hike Causes Pound to Drop

The Bank of England raised its baseline interest rate to 0.5 percent on Thursday and that was the first time since 2007 that the BOE has made a rate hike. Normally when a country’s central bank raises interest rates, the currency of the country climbs against other currencies, but that wasn’t the case with the Pound. When interest rates are ...

Read More »