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RaginCajun

EASY MONEY IS OVER

Now that the Bitcoin ETF has arrived, the orange cryptocurrency has taken a breather. Apparently, $GBTC holders have been waiting for this moment, and it has been a free for all since August of last year. Lucky for me, I committed a bunch of capital to the crypto space during the month of August, and have been rewarded handsomely (all trades documented in Stocklabs). So what’s next for the orange coin? I’d expect more weakness, before resuming it’s uptrend. We still have MOAR bullish catalysts ahead for the crypto market, one being the halving amongst others, so I will continue to buy on further weakness.

I know many of you do not care about the crypto space and come here for stocked picks, but I have to write about where my head is at. There was a great thread posted this weekend that explains the “behind the scenes” action in the Bitcoin, it’s a great read for those interested:

Enough about the nerd coins, back to the market. $AAPL pretty much set the tone for the year with a cut in guidance for their iPhone sales. I’m pretty shocked that the marketcap for Apple still sits near a 3 trillion valuation and has held up to start the year. But, I think that changes soon– maybe even this week. I would watch the action in Apple to get a gauge on future market direction. If we start to see $AAPL break lower, it might be worth your wild to look at some of these tech inverse ETFS, or just go gangster and buy blocks of puts on the QQQs.

As we near the end of the month the FED will be in focus. I think it’s well-known that Powell will pause, but will there be clues for future cuts this year? Maybe, maybe not. Maybe market participants start to force the FEDs hand and force a cascade here, maybe not. Regardless, I would trade with a sense of caution here.

As for some high volume movers on Friday, you can click the scan HERE.

Good luck trading this week, and hold on to your butts. I’ll focus on my puts in the $QQQs.

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Not Much On The Radar

It’s a week before Christmas and many are using the end of the year to use unused vacation time. It’s a time for friends, family, and corporate parties. I’m not expecting much this week, but will have my eye on the small caps to see if we can catch any big low-float runners. The momentum delta scan this week is uninspiring, but for those interested in the scan: CLICK HERE. 

$COST was the standout last week and is issuing a special dividend to shareholders on record as of December 28th, payable January 12th– it is on top of this week’s scan. I’m a believer that $COST should be in every long term portfolio. So the next time the market gives you a deep pullback, think $COST. China also saw some movement on the scans Friday with both $JD and $BABA making the scan. Maybe we see a multi-day bounce as we head into the China new year, maybe not.

There is not much else here on my end, make sure you join Stocklabs for more commentary from myself. Enjoy the holidays fellas!

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Weekly Watchlist

It’s that time again. Time to prepare for the week using one of my favorite scans inside Stocklabs, the Momentum Delta Scan. Members inside the lab can save and bookmark scan HERE. For the unwashed, the plebs, don’t worry– I have imported the scan results for you HERE.

Some of my favorite setups from this weekend’s scan include:

It’s also worth noting that the Casinos are finally coming off the lows and getting some love from scan: ie. $LVS $MGM

And, it appears they may try to jam the Cannabis names higher into year end. $CGC, $TLRY, & $ACB are popping up again.

I’ll be watching the small caps into year end, let’s see if Santa continues to show his face as we close the year. Have a good week all, trade ’em well.

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Setups To Watch

It feels like we have an end of year chase in progress. Over the weekend crypto continues to act well, with BTC pushing to $40,000. The NFT market is also heating up with Pudgy Penguins trading to 10 ETH. Indeed, there is an appetite for risk. And, people still think a rate cut is coming next year? I’m not so sure, other than the fact interest is killing the USA with a debt load nearing 50 trillion. This new white lung pandemic should be fun. I digress.

Friday’s scan left 200+ tickers to sort through, a number that is increasing week over week. I went ahead and imported the weekend scan for the unwashed: CLICK HERE FOR CHARTS.

Members of iBankCoin’s premium service can save the scan HERE.

Tickers I will be watching this week include: RIVN, CELH, DOCU, CLF, HOOD, CHWY, AA, JOBY, CVNA, AI, QS, TDOC, MARA, BB, PTON, ACHR, BCRX, PGY, FUBO, HUT, HIVE, BKKT, GOTU, RGTI, & TLRY (CHARTS)

Have a great week all!

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Mid-Week Update

It’s already been one hell of a week, and we still have a few trading days to go– only 5 more trading days until Thanksgiving. Finally, its been a few years, but the Mythical Turkey gods have shown their face. In my last post, I was watching the small caps, specifically $TNA. Well, we got the move, and saw some resistance as we traded back through the 200 day moving average.

As for the rest of the week, below you will find tickers from my updated scan. Crypto and the Cathy Wood (ARKK) names are now in focus according to my scan.

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An Update Of Sorts; HBD iBankCoin

I missed one hell of a week in the market last week while traveling to Colorado Springs. I finally got a chance to visit the Garden of the Gods, and scale Pike’s peak. Definitely a bucket list item.

A few years ago, I got a chance to watch 311 at the Red Rocks Amphitheater, but fell short on time to hit the peak that is Pike’s. It’s been a transition period for me, an end of an Era one could say. Covid/inflation did a number on my small businesses and I’m finally moving on from my group of franchises and settling in the corporate world.

I used to think school was a waste of time after starting multiple businesses, I felt it hindered my progress. My thoughts were if I had not went to school I could have had better territories within my franchise. However, being in the fitness business for 15+ years, nobody was safe from Covid-19. And, it only got worse thereafter. Inflation raised rents across the board, electricity prices were at all time highs, and franchise fees doubled. All costs were raised significantly, and it was hard to raise prices when the industry was lowing prices ie. Planet Fitness.

At this moment, Im pretty happy I went to school and earned my Accounting degree. I ended up landing a pretty sweet role at a fortune 500 company and pretty excited to see where I can take it within the company. The role is remote four days a week, which makes the transition easy. I also get to move back to my home town, New Orleans leaving Cajun country, Lafayette behind. My time may be limited inside Stocklabs as I make this transition, so I need to make sure I get my ideas out nightly via the blog.

iBankcoin celebrates another birthday today, and it’s a blessing that I still get to share my ideas on this platform. But, enough about me, let’s get into some scans for the week ahead. The Momentum Delta scan is where I like to start when performing my weekend homework, members scan find it HERE. Plebs can find the fullscan HERE imported to finviz.

From the scan, I will be watching the following names: PLTR, MARA, NU, CCL, DVN, SE, PENN, IBRX, PATG, AVGO, & DDOG.

It’s also worth noting that seasonally speaking this is where we begin to see a dash for trash in the small caps. Let’s see if the Russell can finally get out of the doldrums, $TNA is on my radar.

Happy Birthday iBankCoin! Cheers to another year.

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