Market Notes:
Ready for some “Truths”?
The financial media is quick to point out the flaws with Trump’s new social media platform “Truth Social.” And for the most part, they’re right, the platform will likely fail. Plus the meme status of DWAC stock is an open door to white-collar prison if someone acts out … Something that the Trump organization has a long history of doing.
Investing in Trump is bad business. His organization has a long history of losing its investor’s money.
So why did the stock run from $10 to $175?
It’s not because it’s a great investment. It’s not because it could dethrone FB. It all comes down to buyers and sellers.
Individual investors never had the chance to invest in Trump before. The SPAC was a first of its kind. And Trump’s followers, MAGA & QAnon are internet savvy. We saw what happened with GME in January. DWAC is no different.
In the market, it comes down to buyers and sellers. When the buyers overwhelm the sellers the price has but one way to go … UP!
Friday the market was a madhouse of chasing and halts as MAGA, WSB, and QAnon chased every stock that could possibly be related to the Trump organization.
So like it or not … Reasonable or not … Trump is the new hot sector.
The timing is perfect. All we needed was a spark … and we got one.
I’m risk on for day trading starting today. Unfortunately, I won’t be able to stream this week but watch my Twitter feed I’ll post any trades I make.
Watchlist:
*CNTX watching for a setup above $7
*HUDI watching for a setup above $14
*SGBX has resistance at $6
*BENE is on watch
*EYEN has resistance at $6.50
DWAC is on watch
BTCY has resistance at $4.25
MARK is on watch
WTRH has resistance at $1.70
UNIT has support at $14
UEC has resistance at $4
OTC, no levels: CBMJ
