One analyst sees Bitcoin surging more than double in the next few months.
 | You're receiving this email because you are subscribed to Trading Tips,
if you no longer wish to receive these emails you can unsubscribe here. | |  | | |
| |  Good morning. One analyst sees Bitcoin surging more than double in the next few months. The reason? For the first time in years, the cryptocurrency's 50-day moving average has risen over the 200-day moving average.
That's a bullish technical indicator called a golden cross. And if that trend is true (and with cryptocurrencies it's hard to tell), some see Bitcoin heading as high as $26,000. Why? Because the last golden cross in Bitcoin led to 170 percent surge. The numbers may be optimistic, but Bitcoin is still in an uptrend.
| | | | | |
| | |  | DOW 29,219.98 | -0.44% | | | | S&P 3,373.23 | -0.38 | | | | NASDAQ 9,750.96 | -0.67% | | | | | *As of market close | | | • | Stocks dropped yesterday, as rising rates of coronavirus outside China were disclosed. | | | • | Oil traded flat, closing at $53.77. | | | • | Gold prices rose 0.2 percent, hitting $1,623. | | | • | Cryptocurrencies dropped, with Bitcoin dropping 0.25 percent to $9,601. | | | | | | | |
| | | Two All-Weather Stocks for 2020's Storms | | | | Investors have already seen a geopolitical scare this year, and a major global viral outbreak that's taken thousands of lives.
And that was pretty much just January!
With many investors expecting the next proverbial shoe to drop, it's important to focus on the fundamentals of investing. Stocks tend to shake off short-term fears and head higher over time. Taking advantage of fear-based drops can be a powerful way to profit.
» FULL STORY | | | | |
| | Insider Trading Reports: Bunge (BG) | | | | Joseph Podwika, Chief Legal Officer at Bunge (BG), recently picked up 15,000 shares. The buy came to just over $800,000, and represents a new position for the insider.
This marks the first insider trade of the year. In 2019, insiders were active, with one sale of nearly 1,800 shares, but insider buys of over 300,000 shares.
Looking back further, insiders were sellers in 2017, at far higher share prices and in smaller amounts.
» FULL STORY | | | | |
| | Unusual Options Activity: 3M (MMM) | | | | March 13th 2020 call options with a strike price of $167.50 on 3M (MMM) recently saw a 40-fold rise in volume. From 220 open contracts, over 8,800 traded hands.
The bet, expiring in 21 days, is that shares will rally from here. The strike price of the option is about 5.1 percent higher than the current share price.
The buyer of the option also paid about $0.98 per contract, so shares would need to clear $168.50 at expiration to profit.
» FULL STORY | | | | |
| | | | TOP | | | ETFC | 21.812% | | | | XEC | 6.493% | | | | ALB | 5.563% | | | | VTR | 5.495% | | | | MPC | 4.455% | | | | BOTTOM | | | VLAC | 17.886% | | | | CPRT | 6.89% | | | | NCLH | 6.747% | | | | HSIC | 6.498% | | | | HRL | 6.007% | | | | |
| | |  | | Bonds, momentum stocks, and low volatility stocks rallied – pushing the valuation spread between defensive and cyclical stocks to a level 2x worse than during the peak of the late-'90s tech bubble…The bubble we are describing is expressed in equity factors ... We caution investors that this bubble will likely collapse, i.e. this time is not 'different. | | - JPMorgan quant analyst Marko Kolanovic on the high valuation in defense and tech names, and why those high-flying names will likely drop in line with more value-oriented sectors.  | |
|
No comments:
Post a Comment