Market Notes: MRIN continues to push higher and yesterday it got some sympathy plays. BLIN, BSQR, & IFBD all could make similar moves. The overall market looks a little weaker this morning. Futures are all red after choppy sideways action for days on end… Bitcoin (follow the link for a free book) still unable to …
Market Notes: Bitcoin is flirting the 200 day moving average, which historically provides strong resistance. As regulators begin to address concerns in the crypto space some see it as a sign the market is maturing. I’ll watch the chart for confirmation … Lots of overhead resistance to get through. The Delta variant of COVID-19 doesn’t …
Market Notes: The summer trading continues to grind along. Major indexes are posting new highs on low volatility. Nothing the Fed said changed the direction or outlook of the market. Meme stocks and Bitcoin are not breaking down yet. Both have found support levels and could be looking for a turn. Note the EXPR breakout… …
Market Notes: News out of Washington is a bipartisan group of Senators reach a compromise on a $1 trillion infrastructure spending plan. But within hours President Biden said he wouldn’t sign the bill by itself … He wants to end the 2017 corporate tax cuts too. Politics as usual but it does seem like the …
Watchlist: 6/25 Infrastructure Deal, OTCs, and IPOs Read More »
Market Notes: Futures are higher ahead of the latest jobless claims. The Nasdaq Composite logged back-to-back records and is pointing towards a record high open this morning. Bitcoin is holding above $30,000. Still looks bearish below the 200 day moving average but betting against still feels too risky. I’ll buy more if it slips lower. …
Market Notes: ALF & WSRC flew yesterday on massive short squeezes as the Nasdaq Composite set a fresh record. I’d like to see at least one more big move like this before I go risk on, but the market is show signs of life. Meme stocks AMC and WISH haven’t died yet. Still potential for …
Market Notes: An analyst at BAC called for oil to hit $100 a barrel next year. It’s currently trading near $73, well off of last year’s lows of -$37. Bitcoin and the rest of the crypto world are settling down. Still looks bearish to me, I’m waiting for a larger decline and will add more …
Market Notes: The markets aren’t happy this morning. Bitcoin is below its 200 day moving average. The VIX is above 20. I’m staying risk off. Bitcoin miners in China are getting shut down. Adoption is growing in most places as governments try to restrict usage. If you’ve been waiting for an opportunity to buy it’s …
Market Notes: The talking heads are calling for a meme stock crash, but to me, the chart patterns for AMC and GME are rather bullish. No position here, but I’m not buying their version of events. Who’s side are they on anyway? Markets are moving sideways after yesterday’s dip was bought. Bitcoin is retreating from …
Market Notes: The World Bank rejected a request from El Salvador to help implement its new bitcoin policy citing “environmental shortcomings.” The rejection points to a hesitancy among institutions to get involved in crypto. Despite the growing adoption by banks and businesses, the growth potential remains huge. BTW I’m long bitcoin. The Fed announced it …
