Watchlist: 2/24 Margin Calls & Bitcoin Bears

Market Notes:

Yesterday the markets had an epic selloff to start the day. The markets were highly correlated as panic selling gripped the market, I believe many people had positions liquidated, and plenty of stops got hit.

I took advantage of the opportunity and bought a few SPACs a bargain prices namely: CCAC, RAAC, & SOAC.

Bitcoin entered its second bear market of the year after dipping as much as 23% from recent highs.

Money printer goes brrrr. Fed Chair Powell said he’s gonna keep buying and that he can print as much money as he wants without a problem. He said we need to “unlearn” the idea that money printing can cause inflation…

The SPY did close in the green after all that. Futures are up this morning. I’m willing to trade the right setup.

Watchlist:

SLDB has support at $9
SVRA watching for a setup above $2.10
BTU has resistance at $5
PBF has resistance at $15
RRD has support at $3

watchlist

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