BotTrigger Trade Alert: $MGTI added for our 3rd buy alert, bought @ $2.10
1st Buy Alert on MGTI @ $1.35 on 8/8/17
2nd Buy Alert on MGTI @ $1.86 on 8/14/17
3rd Buy Alert on MGTI @ $2.10 on 8/17/17
Even as the Dow drops 100 points, the BotTrigger portfolio is outperforming with MGTI +$0.25 (+13%) and BABA +$6 (+3.75%). It’s nice to see these two stocks rise as additional clarity hits the market. For those who have been concerned about a reckless visionary at the helm of MGTI, today MGT announced a corporate restructuring with Stephen Schaeffer appointed as president of crypto-capital strategies, John McAfee appointed as chief cyber security visionary, Robert Ladd as CEO and H. Robert Holmes as Chairman of the Board. Seeing solid executive leadership alongside the loose cannon McAfee is reassuring. Of the shakeup, McAfee remarked, ‘I am back where I belong: Out of the weeds and focusing on the biggest issues facing the industry and the world. The true test of any leader is putting the right people in the right jobs, and as a very large stakeholder in MGT, I am very confident in Steve’s ability to make us all money.’
McAfee is now free to work full-time on creating advanced protection technologies for mobile and personal tech devices, as well as corporate networks. The company’s first product, Sentinel, an enterprise class network intrusion detector, is currently in beta testing, with commercial release anticipated by the end of September 2017. The company is also actively developing a mobile phone with extensive privacy and anti-hacking features with a tentative release date of February 2018. McAfee also said, 'My main relief is no longer having to deal with audits, Board issues, the SEC, legal issues, voluminous reporting, formalities...I can focus on what I do best, design products.'
Steve Schaeffer is dedicated to actively growing the digital currency business. Today’s press release announced the deployment of another 650 new Bitmain S9 bitcoin mining rigs that will reach full production within two weeks. Schaeffer announced MGT recently passed a milestone of having mined 1,000 bitcoins since it began operations in September 2016. At a current price of $4,460 per bitcoin, that’s a nice start for the small company with $4.46 million sitting on the balance sheet. As mining ramps alongside price increases in bitcoin, perhaps six months from now MGT will have 2,000 bitcoins on the balance sheet priced at $7,500 each for a total of $15 million. And if bitcoin extrapolates to high end targets of $50,000 or $500,000 over the next few years…watch out. Schaeffer commented, ‘With the recent highs of $4,500 per bitcoin, the business of mining is as profitable as ever. I couldn’t be more excited about the timing of my new appointment, and I truly believe we will build MGT into a mining powerhouse in the United States.’
At yesterday’s close we bought another 5% allocation of MGTI at the momentum purchase point of $1.90, today we’re purchasing another 5%. This has the potential of becoming a meaningful long-term hold if investors continue to utilize bitcoin as the de-facto risk asset in a financial system that has been severely manipulated by central banks. Bitcoin is up $300 since yesterday. It doesn’t seem to be going away. As far as what's happening here with Bitcoin, you are witnessing an arms race of super governments in a race to see who can collect/control the most Bitcoin for the future. If this sounds absurd to you, just think of Fort Knox gold bullion.
History is repeating itself here on Bitcoin. World super governments are collecting this ahead of the other. Russian, China, Korea, Japan & the US are all in a race to own the largest stake of Bitcoin. This race is what will very likely see Bitcoin pass $6k/BTC this year & $20,000/BTC sometime next year.
As for $BABA Alibaba, it continues to far outperform Amazon’s revenue growth in addition to a competitive advantage in profitability. The company reported net income of $2.17 billion at EPS of $1.17 compared to estimates of $0.93 a share, revenue growth of 56% at $7.4 billion beat estimates for $7.09 billion. Unlike Amazon’s shopping-only platform, Alibaba has become a hub for content and advertising. Mobile monthly active users reached 529 million in June, up 22 million from the prior quarter. This growth enabled core e-commerce to grow 58% to $6.3 billion due to new users on its platform, increased traffic from existing users, and personalized content accumulated from big data analytics. Cloud revenue grew 96% with the number of paying customers passing 1 million, up from 874,000 last quarter. As long as significant trade wars can be avoided, Alibaba should continue to be a Wall Street leader. We view this as a 50/50 proposition. With leaders like Trump, Putin, Jong-un, and Jinping running the show, anything could happen. Enjoy the BABA run while it lasts. The next momentum purchase point is set for $168. If we see that cross on volume, we'll be making more room to add yet again.