Watchlist: 12/28 Margin & Bitcoin: New Highs to End the Year

Market Notes:

Markets are continuing to climb as the VIX is sinking lower toward 20.

Bitcoin surged to new highs over the weekend and is holding well above $25,000.

Traders have record amounts of margin debt as they continue to make bets the run is not over. The previous margin record was set in May 2018. Before that, it was 2008 and 2000.

Speculation is running wild right now. I do believe this trend can continue longer than anyone thinks. While I’m not an advocate for picking the top we are due for a correction.

The stimulus bill has been signed. Newly printed money is on its way to the economy. I’m bullish!

Watchlist:

FLY is a lowish float, support at $10

HCHC has resistance at $4

IZEA watching for a setup above $2

MBIO has resistance at $3

AQMS has support at $2.70

TRIT has resistance at $15

GEVO has support at $4.30

UUUU has support at $4.30

OCGN has resistance at $3

ENDP has support at $6

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