My previous headline is ancient history, pointing to a few hours when crypto currencies were up. Now they’ve resumed vapor-lock, unlimited slide mode to the downside. For people with little exposure to the cryptos, this is a fine moment to be buying into this shit-filled asset class — not because they’re worth anything — but just for the pleasure of buying into the panic and the misery of an underclass investor who is being thoroughly dispatched from the market place.
Hey HODLers: welcome to the underbelly of greed — the sordid toxicity of malevolency that has racked men from the beginning of speculation. Don’t worry, it’ll soon be over and those Bitcoin ATMs will be towed out from your corner bodega, rendering this whole idea of unlimited gains into the billions to be something akin to a passing ship in the night.
Come, join us, become billionaires. Learn about the crypto currency pic.twitter.com/ChqaGfYLNN
— The_Real_Fly (@The_Real_Fly) February 1, 2018
Total crypto market cap now ~$477 billion, off a solid $230 billion from the highs. BTC is nearing $9,000, Ripple $1,000, and here are some of the biggest losers.
S&P futures are +2 and oil is the standout — higher by 1.1%.
Here are this morning’s movers.
EGOV -17.5%, ASX -14.4%, OMI -11.3%, PYPL -7.7%, RL -7.3%, NVO -5.1%, MUR -4.7%, APU -4.2%, SYMC -3.7%, UPS -3.5%, BABA -3.3%, VOD -3.2%, HSY -3%, TSCO -2.8%, APTV -2.2%, CTXS -1.9%, NOW -1.9%, BSX -1.6%, LAZ -1.5%, CRS -1.2%, BAX -1.1%, QCOM -1%, (also expands its global patent cross-license agreement with Samsung covering mobile devices and infrastructure equipment), RDS.A -1%, MSFT -0.9%, DWDP -0.9%, MO -0.7%, PH -0.7%
ONCS -14.4% (commences common stock offering)
RIOT -6.9% (confirms its Annual Meeting was adjourned for a second time to achieve a quorum on the proposals to be approved — under Nevada law, a new record date is required to be set)
DPW -5.3% (ongoing volatility)
NVTR -4.6% (commences common stock offering)
GNBC -2.7% (to offer 3 mln shares of common stock in secondary offering by selling shareholders)
Analyst comments:
CMG -2.3% (downgraded to Sell from Neutral at UBS)
ESRX -1.6% (downgraded to Underperform from Mkt Perform at Bernstein)
NVDA -1.5% (removed from Conviction Buy List at Goldman)
QNST +12.5%, KEM +12%, QRVO +11.9%, OTEX +11.5%, EBAY +10.3%, NOK +9.6%, TUES +6.9%, ST +6.7%, VRTX +6.2%, (selects VX-659 and VX-445, two next-generation correctors for phase 3 development as part of two different triple combination regimens ), QGEN +4.5%, (also to acquire STAT-Dx), T +3.7%, USG +3.5%, MKSI +3.4%, ESIO +2.5%, FB +2.5%, NOG +2.5%, MPC +2.4%, ALGT +2%, X +1.9%, VLO +1.8%, DGX +1.6%, UN +1.3%, MA +1.3%, AME +1%, TWX +0.9%
Other news:
LTBR +25.7% (awarded key patents in Europe and China for innovative metallic fuel design that each extend through 2034)
ZN +18% ( launches new $5 per share Unit Program of limited duration during the month of February)
SNDX +6.4% (announces clinical collaboration with AstraZeneca)
VRTX +6.2% (reports Phase 2 data showed mean absolute improvements in ppFEV1 of up to 13.3 and 13.8 percentage points for VX-659 and VX-445)
P +3.1% (announced organizational restructuring that shifts resources to focus on ad-tech and audience development efforts)
GPRO +1.3% (GoPro rolls out enhanced subscription service)
SGEN +1% (prices 11,538,461 common stock offering at $52.00/share)
TEVA +0.8% (discloses entry into settlement agreement and mutual releases with Allergan)
Analyst comments:
WLL +2.5% (upgraded to Neutral from Sell at Goldman)
PBR +2.5% (upgraded to Neutral from Sell at Goldman)
TTWO +2.4% (initiated with a Overweight at Morgan Stanley)
STO +1.3% (upgraded to Neutral from Sell at Goldman)
Last time the Dow was this overbought back in December 1904, it did a 10% correction in one week.
Two words: relentless buying.
your market-anal(ist) skill are cryptocrashing
you promise ( of your head chop , alias to leave this world , alias to not post too much bs again ) is a lie
someone better begin an exodus
Well said, friend
I guess you don’t understand what entertainment value is.
What one will learn about the crypto currency is the same as one learned about dotcom.
Dr. Maggot does it again. Hahahaha. Loser.
You were way late on cryptos. It went mainstream with grandmas wanting to jump in. Clear sign the mania was over. Eventually some of the coins will rise from the ashes and trade based on their fundamental value (which is their usage/utility). ETH is okay though I do question its valuation. But as far as altcoins, no good way to tell which ones will survive at this point…
CBOE-XBT wins again