Market Notes: An analyst at BAC called for oil to hit $100 a barrel next year. It’s currently trading near $73, well off of last year’s lows of -$37. Bitcoin and the rest of the crypto world are settling down. Still looks bearish to me, I’m waiting f...
Market Notes: The markets aren’t happy this morning. Bitcoin is below its 200 day moving average. The VIX is above 20. I’m staying risk off. Bitcoin miners in China are getting shut down. Adoption is growing in most places as governments try to restr...
Market Notes: The talking heads are calling for a meme stock crash, but to me, the chart patterns for AMC and GME are rather bullish. No position here, but I’m not buying their version of events. Who’s side are they on anyway? Markets are moving side...
Market Notes: The World Bank rejected a request from El Salvador to help implement its new bitcoin policy citing “environmental shortcomings.” The rejection points to a hesitancy among institutions to get involved in crypto. Despite the growing adopt...
Market Notes: The Fed will announce its new policy this afternoon. I expect everything to remain the same, dovish, with low rates and continued buying… They’ve got the bottomless checkbook and the market isn’t concerned about inflation … Sorry hawks....
Market Notes: The dumb money rotation is right on schedule. First meme stocks, then crypto, and now the OTC market. Bitcoin is holding up well this morning though it’s having trouble holding above $40K. A punch through $41K will confirm the breakout...
Market Notes: Elon Musk’s on-again-off-again relationship with bitcoin is on again. He said once bitcoin miners use 50% clean energy he’ll be on board. Bitcoin and the rest of the cryptos are up on the news. Bitcoin is at a key resistance level this...
Market Notes: The SPY surged higher at the open and held most of those gains until the end of the day setting a new record high. But the volume and volatility are light. Any negative news could buck the trend. For now, inflation concerns are lowish a...
Market Notes: Bitcoin is showing positive signs as it bounces off the 200 day moving average. Stonks are going down… I’m watching for a rotation of risk on cash into crypto. That’s what happened in earlier in the year and history tends to repeat itse...
Market Notes: The meme stocks are soaring again today. Short squeezes are all the rage right now. Bitcoin is now legal tender in El Salvador. The price is stabilizing near the 200 day moving average. The broader markets are holding near all time high...
