Market Notes: The Jackson Hole summit is underway (virtually of course). The event features a meeting of central bankers from around the world. Will any real actionable news come out of this meet? History tells us no. This morning futures are red ahead of the new unemployment filing numbers. Bitcoin is slumping. And the dog …
Market notes: I have little to report today, only one stock from my end-of-day scanner made it onto today’s watchlist. No additions this morning either. Futures made a red to green move overnight. Bitcoin is slipping as it now appears to have rejected the $50K level. GME and AMC popped for no reason yesterday. Could …
Market Notes: The Fed canceled its annual in-person meeting in Jackson Hole, the reason: COVID. All while talking about tapering its support for the markets … irony? Tapering is a vote of confidence, just like raising interest rates. But the market always sells off initially when the Fed decides to go with less interference. Indexes …
Market Notes: I woke up this morning to bitcoin above $50,000. This bull trend continues as adoptions grow. PYPL announced they were bringing crypto to the U.K. Futures are also rising, technical support held despite the delta wild card. Still, 45% of stocks are trading below their 200 day moving average. I’m mainly risk off. …
Market notes: Indexes squeaked out some gains yesterday but the broader trend is still pointing down. The SPY is at support I believe it’s important for the dip to be bought today. More selling could lead to a larger decline. While indexes enjoy near record highs, the individual stocks continue to suffer. 68% are now …
Market Notes: Tapering, hawkish … it’s a scary time in the market. The Fed’s $120 billion per month bond purchases could be reduced as soon as next month. Could the economy survive with only $110 billion in freshly printed bills per month? Traditionally August is the worst month for stocks. The August expiration is tomorrow …
Market Notes: It’s a short squeeze market ya know… VRPX put on quite the show yesterday closing up over 250%. The low float and weak indexes provided the perfect storm. Futures are pointing towards the third red open in a row. Losses thus far are minimal. I expect any big drop to be bought and …
Market Notes: 2 days in a row and very few stocks are meeting my criteria. It’s still summer, even the markets have finely taken notice. Futures are pointing towards a red open for the second day in a row. Bitcoin and the crypto rally are still holding up strong. I’m watching DOGE and EGLD for …
Market notes: Happy Monday and what a weekend it’s been. The crypto rally continues to hold strong and Dogecoin (DOGE) is leading the way, trading above $0.34 at writing. Its highest level in 2 months. The meme crypto was boosted over the weekend with tweets from Mark Cuban and Elon Musk. The news cycle is …
Market Notes: All crypto/bitcoin is a very speculative asset. It’s extremely volatile, so anything you put in you should be prepared to lose. But the case for crypto remains strong. And it provides an overview of the market’s risk tolerance. Waking up to find bitcoin back above $46,000 told me the market’s poised to make …
