2/7/22 This Year is for “Smart Money”

News:

According to a report from Bloomberg retail trading is slowing down. I can see this in my daily scans as fewer low float stocks are holding their gains.

Photo by Arpan Parikh from Pexels

Bitcoin is moving up, likely due to institutional buying. This is extremely bullish for the digital asset. I continue to be a buyer on this front.

The big stories I’m watching this week are … Inflation data due on Thursday, energy prices which remain high, and Russia tensions.

Technicals:

The put-to-call ratio and RSI levels are neutral.

The VIX is holding steady.

Most notably bonds sold off … Paving the way for stocks to move higher.

I’m not ready to buy yet but if a few stars can align I’ll make some cautious bets.

Timing:

Earnings season is continuing. There have been plenty of surprises so far. Keep an eye on the big movers as more surprises are likely in store.

February is typically a slower month so the best opportunities may not show up until March/April.

Watchlist:

BPT is on watch
FUN has resistance at $59
FRBK has support at $4.65
SST is on watch
EGAN has resistance at $13
VIVO has support at $22.75

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