Market Notes:
Only two trading days left in the year, and the S&P 500 is trading near record-high levels.
The media might want you to be scared of inflation and Omicron, but the market is showing no fear as it punches into the new year.
Yesterday bonds slipped lower as the markets climbed. This is an extremely positive sign for the bulls.
The “Santa Rally’s” halfway point is today, and the “January Effect” is also near its halfway point. I’m still holding a large portion of my TNA position. But I’m mindful of a technical breakdown. Too much selling will get me out.
The biggest bear in the room is still bitcoin. It’s holding above $45,000 for now, but failing to hold above $50,000 could spell short-term trouble. I remain a long-term bull. I’m HODLing!
My favorite stocks at the moment are XXII and NAKD. I’m holding positions in both. My notes are below.
I’m bullish on stocks and adding to my long-term crypto holdings. I remain risk on.
Watchlist:
*EFOI has resistance at $5
*RELI is on watch
*MBOT has support at $8, resistance at $9
ARHS has support at $13
NAKD is a recent reverse split with a big volume spike yesterday. I bought some near $5.75. A close below $5 will get me out, price target $10+. Looking to add on dips.
DNUT has resistance at $18
XXII bull flag is not looking great this morning. I cut my position in half, a close below $3 will get me out completely.