Category: Trading Videos

Bitcoin (BITSTAMPUSD) hit a new record high of $42,000 Friday afternoon, surpassing the previous all-time high of $40,123 that it reached on Thursday. Year-to-date gains are now over 40% making Bitcoin the strongest mover in 2021 by far. In typical bull market euphoria, Bitcoin's price has more than doubled in less than a month as new investors rush in, making sure they don't miss out. You know, FOMO, "fear of missing out," but is it too late?

Mutual fund titan Bill Miller told CNBC that "One of the things that's interesting about bitcoin is that it gets less risky the higher it goes, that's the opposite of what happens with most stocks."

He went on to say, "For those people who are waiting for the pullback, they got it in the first quarter. You could have bought bitcoin and $4,000 in the first quarter," Miller noted, referencing bitcoin's nearly 50% intraday crash in March 2020.

"But amid bitcoin's more than 300% rally in 2020 extended by an additional 40% gain already in 2021, Miller said, the price of these returns is the asset's volatility." Continue reading "Another Day Another Record High For Bitcoin" →

Despite Friday's overall weakness, the three major indexes and Bitcoin were able to post weekly gains. The DOW gained +0.4% for the week while the S&P 500 advanced +1.3% for its fourth positive week out of the last five. The tech-heavy NASDAQ outperformed the other two indexes with a gain of +3.1% for the week.

On a daily level, the DOW fell 124.32 points or -0.4%, to 30,179.05. The S&P 500 dipped -0.4% or 13.07 points, to 3,709.41, and the NASDAQ lost -0.1% or 9.11 points, to 12,755.64. All three indexes touched new intra-day highs earlier in trading after closing at records in the previous session. Those records are 30,343.59, 3,726.70 and 12,809.60 respectively.

However, Bitcoin was the big winner for the week, gaining roughly +22% and setting an all-time high of 23,777 on the back of rising volume. Where did that increase in volume come from? The bitcoin "whales," of course. Often times, these large rallies are fueled by large investors with an ability to influence market trends. Sound familiar? Continue reading "Winning Week For Stocks And Bitcoin" →

The stock market started this week with what looked like another record run, but things turned sour mid-week as COVID-19 infections continue to rise both in the US and globally. Adding to the uneasiness is Washington's inability to agree on a stimulus package and jobless claims numbers that continue to grow. Last week's report saw that number grow to 853,000, the highest total since Sept. 19.

Lawmakers seek to pass a bill before lifelines expire at the end of 2020, but disagreements over state and local stimulus, unemployment assistance, and stimulus checks still exist. Continue reading "Stocks End Week Lower On Stimulus Concerns" →

Stocks hit record intraday highs and closed at record highs on Friday, with the S&P 500 and DOW closing higher for the second straight week as traders shook off a disappointing U.S. jobs report. The NASDAQ was able to make it three weeks in a row with a weekly gain.

The DOW closed higher by 248.74 points or +0.8%, at 30,218.26. The S&P 500 gained +0.9% to end the day at 3,699.12, and the NASDAQ advanced +0.7% to 12,464.23.

On a weekly level, the S&P 500 posted a weekly gain of +1.6%, while the DOW gained +1%, and the NASDAQ led the three indexes with a gain of +2%. Continue reading "Disappointing Jobs Report Doesn't Stop Record Run" →

The NASDAQ is the only one of the three major indexers to hold on to a weekly gain. Early in the week, the DOW was making a run at 30,000, but it ultimately failed to reach that level and has since been stuck in the mud incurring daily losses in the 3 of the 5 days this week. The NASDAQ, however, was able to post 3 winning days out of the 5 to produce a weekly gain.

As it stands heading into the close, the NASDAQ will post a gain of roughly +.75% while the S&P 500 and DOW will post weekly losses somewhere in the neighborhood of roughly -.4% and -.5%, respectively.

The U.S. dollar and gold are also on the losing side of the coin, posting weekly losses of -.4% and -.9%. Crude oil made a strong comeback with back to back weekly gains and will post a gain just short of +4% for the week. Continue reading "NASDAQ Holds On To Weekly Gain" →