A show dedicated to bringing our audience bite sized pieces of objective information about financial markets, specifically the NYSE and crypto. We also discuss how to be more successful day and swing traders by utilizing technical analysis.
Announcement: I will be gone on a trip to Italy for 2 weeks starting tomorrow, so no shows until then, best of luck!
In the meantime looks like today the markets are trying to bounce after a week of sliding. Will want to wait for a little more confirmation though, perhaps in the form of a shallow pullback.
Best stocks I am watching with potential are NVDA, AFRM, and MU. Again, always important to wait for confirmation of a good pattern before jumping in.
Best of luck to you over the next couple weeks!
7 Sept 2021
9/7/21 - Down day to start the week
Week starts with a slight day in the red, DOW is the biggest loser ay .75%, however the big loser on the day is crypto with a massive parabolic move down, bitcoin dropping over 10% in the course of an hour in the morning, only to recover about 50% of that drop. Interesting shakeout, now could be a good time to bargain shop on some cryptos.
PII also shook me out after what had a ton of potential on a good looking move today, CRUS was a less dramatic stop out today to end the day -2R. That is the way it goes sometimes, may be sitting on hands quite a bit this month....
7 Sept 2021
9/7/21 - Disappointing labor news to start the month
All 3 markets start flat in pre market but immediately start sliding down to start the day, likely due to a jobs report that showed new jobs added being way under predicted for August. Likely due to that being the last month of unemployment benefits, my prediction is that we will see a bounce back of jobs for September as people are forced to go back to work.
Since markets are sliding we of course want to look for stocks that have good relative strength to the market. Nothing super impressive so far, but a couple on my list are PII, CRUS, DXC, and ZTO.
Bitcoin and crypto have an overnight slide after a nice weekend of gains, we will see if the beginning of El Salvador using Bitcoin as legal currency today has any effect on price or volume movement. If it does, it will be nothing substantial but a little boost to get some momentum going would be nice.
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