Gold Backed Alt Coin Jumps 50% in One Week

A new alt coin backed by precious metals saw its price jump by almost 50% in one week of trading, proving significant early interest from investors and supporters of digital currency.

The NoFiatCoin started trading on the Ripple network on January 6th 2014, and has already seen its value rise to over $2. As an alternative to Bitcoin, the trailblazer which first established that there is a market for math-based digital currencies, the NoFiatCoin (currency code: NFX) is designed to appeal to people with an ideological opposition to ‘fiat money’ and central banking. Its launch on the Ripple network, which is championing the potential of digital currency to establish a new, decentralized, peer to peer banking and financial services industry is no coincidence, as the team behind the coin share many of the ideals of the growing Ripple community.

But it is the precious metals backing of the new coin which is garnering the most attention. NFX is backed by, and can be redeemed for, gold and silver held in vaults around the world. It can also be bought using precious metals through the same vaults. This is the first time that a digital currency has been backed by something with real world value, and the idea causing something of a stir across the internet.

You can find out more and get the latest price here.

Hindenburg Omens: Technical Indicator Warns of Imminent Stock Market Crash

A well respected technical indicator known as the ‘Hindenburg Omen’ is  flashing a big red warning sign that a significant market sell off – even a  market crash – could be imminent.

The Hindenburg Omen, named after the Hindenburg disaster in the 1930s, is a  technical analysis pattern which has a strong history of successfully predicting  market crashes. According to Wikipedia:

From historical data, the probability of a move greater than 5% to the  downside after a confirmed Hindenburg Omen was 77% [The Wall Street Journal  8/23/2010 article cited below states that accuracy is 25%, looking at period  from 1985], and usually takes place within the next forty days. The probability  of a panic sell-out was 41% and the probability of a major stock market crash  was 24%. Though the Omen does not have a 100% success rate, every NYSE crash  since 1985 has been preceded by a Hindenburg Omen. Of the previous 25 confirmed  signals only two (8%) have failed to predict at least mild (2.0% to 4.9%)  declines.

With a track record like that investors should sit up and take note when  analysts report the biggest cluster of Hindenburg Omens on record. Although the appearance of a  Hindenburg signal does not necessarily indicate a market sell-off, the more  occurrences cluster together in a short space of time the more likely it is that  there will be a significant correction….

Read more at http://marketcurator.com/hindenburg-omen-technical-indicator-warns-of-imminent-stock-market-crash/#ioaS6vj5I2ibhJAw.99

Obama’s Budget Blueprint Targets the Rich

The White House released detail on Wednesday of President Obama’s 2014 budget  blueprint, in which he outlines his plans to make high earners pay more to  reduce the deficit,  as well as new spending cuts to replace the temporary  ‘sequester’ reductions which were brought in last month.

If the President were to get his way then US taxpayers earning over $1  million per year would be required to pay at least 30% of their income in taxes.  He would also introduce a 28% cap on the tax deductions allowed to high earners.  In combination with a tranche of spending cuts, this would allow the US to bring  its budget deficit down to 2.8% of GDP by 2016, according the white house  estimates. This stands in contrast to the 5.3% of GDP which the Congressional  Budget Office has predicted for this year’s deficit.

Other notable inclusions in Obama’s budget proposal include a 10% tax credit  for small business which hire new workers or raise wages for existing staff, and  additional spending on infrastructure and early childhood education. The  President has also chosen to adopt a more conservative measure of inflation to  calculate cost of living for recipients of federal welfare programs, which would  result in reduced benefit levels – this seems to be a compromise gesture to  win greater support from the Republican opposition, but it is sure to be  unpopular with many of his supporters….

Read more at http://marketcurator.com/obamas-budget-blueprint-targets-the-rich/#0VmT2aIKqTZ20tiQ.99

KPMG – FBI Investigates Top Accounting Firm over Insider Trading

The top accountancy firm KPMG is being investigating by the FBI, after  allegations emerged of insider trading by one of its auditors.

KPMG has announced that it will resign as the auditor of Herbalife and  Sketchers after news emerged of a the FBI investigation. The inquiry will  centre on allegations of information being leaked from a former senior  partner.

Both Herbalife and Sketchers have stressed that the investigation relates  solely to the behaviour of the auditor, and that there is no suggestion of  misconduct on their part.

KPMG announced that  ”the partner was immediately separated from  the firm” as soon as the allegations came to light, adding that “This  individual violated the firm’s rigorous policies and protections, betrayed the  trust of clients as well as colleagues, and acted with deliberate disregard for  KPMG’s long-standing culture of professionalism and integrity.”…

Read more at http://marketcurator.com/kpmg-fbi-investigates-top-accounting-firm-over-insider-trading/#G62GFCdgUO4dt1rd.99

Peer to Peer Investing Guide

Peer to peer (P2P) investing is when an investor gives their money  directly to an individual or entrepreneur who needs the money. Although this  road definition covers all kinds of ‘angel investment’, the term ‘peer to peer’  is generally used to refer to a crowd funding model in which a group of  investors each put in a small part of the required capital.

This is in contrast to the normal model, in which that individual would have  to go to a large financial institution such as a bank.

Peer to peer investing opens up a wide range of possibilities which would not  ordinarily be available to smaller retail investors – investing their money into  the lucrative loans market without having to go through bank stocks, or funding  new start ups without having the hassle of researching opportunities.

There are two different methods for peer to peer investing. The first is to  use a crowdfunding platform. Be careful which one you choose, however, as most  are set up for people to fund projects they like for fun or for free gifts,  rather than for serious investors looking to make a profit (See: Crowdfunding  Investment for Profit). The second is to invest your money in Peer to Peer  loans, which is covered in more detail below

Investing in Peer to Peer Loans

You can use P2P lending platforms to invest in either personal or business  loans. The platform provider will perform all of the necessary credit checks on  all loan applications, and will also take care of the contracts and collecting  payment. All you need to do is to choose from a list of pre-screened  applications. In return the platform provider will take a small  commission.

Risk and rewards are variable according to your preferences. The P2P lending  provider will usually give each application a credit score, in addition to  providing you with a range of additional information to base your decision on  (previous loan repayments, business plan etc.) You can then choose to offer a  low interest rate and buy into very safe  loans, or charge a higher interest rate and take a chance on slightly riskier  deals. As a general rule, however, peer to peer investing is seen by most as a  low risk / medium returns investment. Typically you will get annual profits of  around 8-9%….

Read more at http://marketcurator.com/peer-to-peer-investing-guide/#HGkULg8h0FkBR2ww.99

American Eagle Clothing May Take Flight

Picking the right stocks in the retail sector is not always easy, but if you  pick the right retailer at an opportune time, you could make some good money. I  like the retail sector and feel there is a buying opportunity there. (Read “It’s a Screaming Buy for Retailers!”)

Youth retailer The Gap, Inc. (NYSE/GPS) was struggling in  November 2002 and February 2009, when the stock traded just above $10.00, as  shown on the price chart below. In 2002, The Gap was struggling to renew its  growth, while in 2009, America had just gone through the subprime credit crisis  that drove the country and the world into a recession.

In both circumstances, The Gap bounced back, and in hindsight, it was a  buying opportunity. The Gap is currently trading near its 52-week high at over  $35.00, up over 250% since 2009. The situation with The Gap is not limited to  this company, as it has also happened with numerous other major retailers at one  point. The key is to find the right buying opportunity….

Read more at http://marketcurator.com/american-eagle-clothing-may-take-flight/#dDBHX1j4bCDAfxGC.99

Fast Food Breakout: New Names Crushing the Competition

Restaurants are seeing a comeback. McDonalds Corporation (NYSE/MCD) was a  stock market darling in 2010 and 2011. The company reported an improvement in  global sales, but as things slowed in 2012, the position drifted. McDonalds has  regained all its stock market weakness from last year, and it’s looking set  to break its all-time record high. The company’s global comparable sales have  been in decline during the first two months of this year, but earnings estimates  have been ticking higher. McDonalds reports mid-April.

Comparatively, The Wendys Company (NYSE/WEN) has really struggled on the  stock market since 2007. I like Wendys, but the company just hasn’t been able to  get customers excited about its menu and the competition for value menus has  been extremely fierce. Wendys’ earnings are all over the map.

Wendys has been trading between $4.00 and $6.00 a share for the last four  years and just can’t seem to get any momentum in its operations or share price.  Like everything though, the position moved significantly higher on the stock  market since last November. It will be tough for Wendys to convincingly break  above $6.00 a share. Wall Street has been nudging the company’s earnings  estimates higher for this year and next, but realistically, it’s only expecting  three percent sales growth.

Burger King Worldwide, Inc. (NYSE/BKW), however, has been doing really well  since relisting on the stock market last year. This play isn’t so much about  revenue growth; it’s more of an earnings story. Burger King’s stock chart is featured  below….

Read more at http://marketcurator.com/fast-food-breakout-new-names-crushing-the-competition/#ooyMSOvDlkrCY61s.99

If Consumer Confidence Is an Indicator, Market Sell-Off Not Far Away

Once again, and I may be the only one saying this, as key stock indices like  the S&P 500 and the Dow Jones Industrial Average reach new heights, I see  more downside risk developing for the stock market. Economic fundamentals and  the stock market are moving in opposite directions. Unfortunately, reality will  hit key stock indices sooner than most think.

Take a look at the chart below. The red line represents the performance of  the S&P 500 and the green line represents the change in the University of Michigan Consumer Sentiment  Index—a gauge of consumer confidence…..

Read more at http://marketcurator.com/if-consumer-confidence-is-an-indicator-market-sell-off-not-far-away/#dGABys8lkTcUdI7b.99

Pullback possible after S&P 500 hits all-time closing high

Cyprus Won’t Leave the Euro Says President

Cyprus Won’t Leave the Euro Says President