Hi readers,
We’re currently at all-time highs on the U.S. Stock exchange.
Everywhere you look everyone is bullish and mega-cap stocks are trading at insane valuations.
If you missed the last newsletter go ahead and read it right here!
Many participants are bullish and mega caps like META and NVDA are blasting off like they’re penny stocks or pharmas reporting a new drug almost every day along this insane rally.
META put up an insane earnings report almost a week ago and the stock made the largest move ever to the upside in stock market history, previously held by Apple.
Facebook now will provide investors with a dividend which it’s never done before, typically growth stocks that have matured or potentially have declining growth soon in the future begin to iterate a dividend for their shareholders.
Bitcoin
Seems to me that this would be a good time to go short on Bitcoin and look out for a move back into the 30,000’s.
I know it may seem unreasonable or crazy talk to be shorting a risk-on asset while names like NVDA and META are going parabolic with the stock market exchange at all-time highs. Although seasonality shows that there should be weakness due to tax season.
I like the chances of lower prices on the S&P 500 before continuing the move higher after touching the 5000 mark today on the S&P 500 futures.
SPY
I don’t know how far down this pullback will go although the levels to watch for are 494 and 483 on the downside on SPY.
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