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As the sanity and calm of the evening hours are upon us, we can reflect on our economic data instead of the cocaine-induced lunacy of Thursday’s session. I present to you FedEx (FDX) which is plunging to the same price it was in……………December 2020. Yep, almost four years of revenue and profits rendered moot.
A week ago I led with a chart looking at the strong correlation between SPX and BTCUSD (Bitcoin). I was talking about the big inflection point likely coming up on SPX, and SPX is in that inflection point now, at a stage where it could very much break either way, though the Fed gave bulls a big boost yesterday. Whichever way SPX breaks here, Crypto will likely follow to a significant degree.
On the Bitcoin daily chart, the daily middle band was backtested and held as support. BTCUSD has also broken back over the 50dma, and is close to a test of the 200dma currently at 63985. Bitcoin is looking a bit stretched at the moment, over the daily upper band currently at 62775, but still well short of the daily 3sd upper band currently at 65078.
(more…)Just last month, Tesla was a $182 stock. Since then, it has resolutely climbed. Along the way, I’ve been emphasizing the price target at just above $245, where that major price gap is.
I’ve had a vested interest in this, since one of my kids had a bunch of options (which expire TODAY!) whose exit I was seeking to optimize. We are just about there, so I think we’re going to have a pitch-perfect gap seal very soon.
If a year ago you had asked me what the prospects for a new public offering whose revenue stream was a same-sex hookup app, I probably wouldn’t have issued the typical Strong Buy recommendation, but – – proving life is stranger than fiction – – GRND continues to surge higher.
I first mentioned Oscar Health (OSCR) in February, and I’ve done about ten posts about it this year. It continues to do nicely, and on a day like this, I don’t even want to THINK about any shorts.
