Some misfit analyst said Bitcoin was heading towards 55,000 today. Write it down: bitcoins will never trade higher again.
Today was all about buying expensive tech stocks. I did a lot of that myself, currently in the most bullish position in several months — long a sundry of mega cap stocks, which can be found in Exodus. I understand the resistance for some of you out there to buy into this cacophony of smoke and mirrors. However, understand that markets do not comport with your caprices, nor mine, and can drift higher, splendidly, even if we’re heading towards thermal nuclear war.
The bigger story today, in my estimation, is the complete and total destruction of the gold bugs. These poor souls have been abused for decades. Just when they were supposed to catch fire, thanks to central bank rigging, bitcoins came along to steal their thunder. It is a cursed trade, one that shall remain in infamy forever.
The Nasdaq fast approaches record highs. We will hit them, and more, next week.
The bull case is all about sentiment and momentum. Since there aren’t any noteworthy headwinds and companies are making immense amount of free cash flow, we should assume that status quo will remain intact. Go out and buy FAANG. I am not kidding. Just do it.
Markets are most likely to head higher throughout the summer, perhaps stalling only if both Japan and S. Korea are incinerated under a barrage of shoddy N. Korean nuclear tipped scud missiles. As for the commodity sector, largely down between 1-2% today, avoid like the plague. There will not be any sustainable rally in oil, unless of course the price of crude can jump $10 from present values. Not happening.
Have a great weekend and be sure to tune in later for the latest political stories, which dare to entertain and amaze, in the most egregious ways possible.
NOTE: Did you see the body language of Trump while shaking the hand of Putin (gasp, OMG). He’s such a beta.
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my
zh post
yesterday
Oh gee, “sector rotation”, right?
Oh gee, “strong holiday moves”, right?
All concocted. all manufactured. all with coordination.
Trick before Bullshit Jobs Friday Manipulated Re-Surge?
You’re a one trick pony.
You mean the fed. manipulated indexes
actually programmed indexes. manipulated is so late 2014
Were you molested by a Fed chair or something?
a) we’re writing this down: bitcoins will never trade higher again @ 2546USD
b) FAKE NEWS: ” the complete and total destruction of the gold bugs”, LOL! I checked all coins and door stops lost in boating accidents and they are all there accounted for, safe and sound…. if that’s what total and complete destruction is…I will take that any time.
2559 last night. …2500 appears to be an equilibrium point for prices recently. The more prices live in this neighborhood the better the possibility that we are seeing a period of re-accumulation prior to the next mark up phase. A quick look at a line chart of bitcoin over the past month shows a coiling triangle, indicating a breakout move in the near future (up or down). Barring some kind of government proclamation bashing bitcoin, I’d anticipate a breakout to the upside. Yeah, bitcoin’s move the past 5 yrs is crazy, up 30,000+%.—and it could get more crazy, like tulips.
…like tulips.
I love that movie
Graceful sounding I suppose. Not the best nor need it be. Nothing going on right now, wrong. WTF with gold and the dollar, some shifting in the background. Its like fox hounds barking.
just ignore the paper gold rigged market…that’s for birds.
The sharp rise in the 10 yr yield apparently hasn’t spooked investors this week. My old school mentors taught me that a sharp rise in yields means it’s time to start getting out of stocks. Maybe it’s different this time?
There are no “investors” anymore…just a bunch of retarded and doped-up banksters shuffling bonds around for optics. Ignore.
Sarc you ever get an IQ test? You’re stuffing a bag of gold in a ditch and have zero liquid assets or investments, do you see how that could influence your opinion on these issues
It’s all about timing and perception of risk, at least for me. This financial shithouse is going down; but not on its own…like 9/11, it will be controlled demolition at FED’s discretion. I am no longer participating in picking up pennies in front of a steamroller. I like having a bird in my hand rather than chasing two birds in the bush. But that’s me…
Does the $FB monthly chart look a little iffy to you at this point in juncture?
Also, $GOOGL should have at least closed that gap, no?