RF's Financial News

Sunday, July 21, 2024

This Week in Barrons: July 21, 2024

‘Knock-Knock’ – Nobody buys anything on an elevator. Your elevator pitch is not designed to explain what you do or even to make the sale. The elevator only exists so that someone will follow you out-of-it, and ask you more questions. ‘Knock-Knock’ jokes are the best teacher of this. For starters, if you’ve ever heard a ‘Knock-Knock’ joke – you didn’t hear it from the person who made it up. ‘Knock-Knock’ jokes prove that: Ideas that are shared = WIN. Work so that people will appreciate and share what you do as easily as they do ‘Knock-Knock’ jokes.

One complaint about consultants is that… they invent stuff out of thin air, with confidence, without sourcing, and then argue it when challenged. Unfortunately, all we can do is change the level of B.S. we are willing to tolerate. To prevent this behavior, ask 2 questions: (a) Could you please Show-Your-Work? and (b) Could I please have an Itemized Receipt?

Companies can learn from Taylor Swift… “The Tortured Poets Department” album has been #1 for a record-breaking 13 consecutive weeks. She has sold over 2.5 million MORE copies of “TTPD” than the next 9 best-selling albums combined. How does she do it? T-Swift has released over 30 versions of the same album. When ‘TPPD’ dropped, there were four versions fans could buy – each with a different bonus track. T-Swift has continued releasing variants: some with acoustic versions of songs, others with voice memos, and even a phantom clear vinyl version. She’s proving that selling to your existing customers is cheaper-faster-better than acquiring new ones.

The Market:

Crowdstrike (CRWD) caused the largest computer outage in IT history… and that’s saying something. A malfunction in the company’s threat-monitoring software crippled ALL Microsoft Windows systems. Problems ranged from Hospitals to the London Stock Exchange to India’s Government to airlines worldwide. And speaking of airlines, over 4,000 flights were cancelled – stranding hundreds of thousands of passengers. Ultimately, the company was able to deploy a fix, but experts say this outage will linger because the solution needs to be deployed manually on a per-machine basis.

Top 5 Market Themes … per Callum T:

China… needs more stimulus as slower growth, softer consumer confidence, and falling property values have taken hold.
+ Corporate U.S. Tax Cuts… will further widen the U.S. vs global taxation gap.
+ Gold… is higher – supported by China, central banks & retail buying.
+ Silver… is higher due to a high demand vs low supply issue, and illegal/naked shorting by U.S. regulators being brought to light.
+ Miners… due to precious metals strength and cheap valuations.

Top 5 Market Themes… per D.J. Trump:

+ Crypto… support regulations that foster innovation and adoption.
+ On-Shoring… gov’t encouraging U.S. production.
+ Small Companies… lower tax rates, deregulation (fossil fuels & financials), and on-shoring support.
- Renewable Energy… less gov’t regulation and renewable subsidies.
- Healthcare… eliminate efforts toward healthcare-for-all.

[ Learn about Bullseye Trades here… ]

InfoBits:

55 years ago, Neil Armstrong and Buzz Aldrin… became the first people to walk on the moon in Apollo 11.

AT&T hackers obtained all of the call logs and SMS data… from their 110m customers between May - October, 2022.

"We are not seeing the same growth… in consumer spending that we had in prior quarters. There was less traffic in the retail venues, labor market softening and tightening consumer budgets." – Citigroup

Alphabet would like to buy… 4-yr. old cloud cybersecurity company WIZ for $23B. Alphabet lags behind Microsoft and Amazon in that arena, and most genAI tools run on cloud servers where security is a top concern.

We can now predict whether mild cognitive impairment… will progress to Alzheimer’s disease with over 80% accuracy. Dementia cases are expected to triple over the next 50 years, and early detection is key.

Prime Day (the 2-day event for Amazon Prime subscribers)… saw sales increase +12% YoY.

New Balance signed a multiyear deal… to become an official WNBA partner. As b-ball stars like Caitlin Clark attract millions of fans, women's-sports merch has become an estimated $4B market in the U.S.

The EU’s landmark AI Act is due to go live next month… and lucky for the rest of the world the EU doesn’t give-a-damn about keeping their AI startup industry competitive or their AI talent close-by.

YTD U.S. corporate bankruptcy filings… are the highest in 13 years.

T-Mobile ranks as the fastest internet provider… across most U.S. states.

The VIX (Wall Street’s fear gauge)… is now at its highest level since April after U.S. weekly jobless claims jumped to their highest level of the year.

Crypto-Bytes:

Above is the Bitcoin Miners ETF (WGMI)… showing that Bitcoin mining stocks have completed their long-term base breakout, and are poised to outperform BTC going forward. Tip #1: I like: MARA, CLSK, MIGI, and WULF.

OpenAI’s Project Strawberry… is being trained to “navigate the internet” and undertake “deep research” independently. It uses a learning method that (over time) will allow it to reach better-than-human intelligence.

Trump is the keynote speaker at Bitcoin 2024… later this month. He chose Ohio Sen. J.D. Vance as his running mate.

J.D. Vance is a bitcoin holder… and advocate for crypto-friendly legislation. He becomes the first "Bitcoiner" onscd a presidential ticket, and is igniting a surge of excitement in the crypto community.

Elon says that he is donating $45m per month… to a pro-Trump super PAC.

The SEC asked the Ethereum ETF companies… to submit their final paperwork and fees. The start of official ETH ETF trading could be as soon as Tuesday, July 23.

On the verge of Ethereum spot ETFs… Bitcoin’s ETF approvals increased the inflow pipelines markedly allowing Bitcoin to move higher on added demand. Tip #2: Fair warning on Ethereum.

Things I use:

I’m a subscriber and user of TheoTrade. Don Kaufmann and his team are excellent traders and educators. They will make you smarter, by using their trades to make you money. Earn while you learn. Please, try it out for free yourself … R.F. Culbertson.

[ Learn about TheoTrade here… ]

TW3 (That Was - The Week - That Was):

Tuesday: Oh, it's just another 600 DOW points. This is actually more insane than some of the tech bubble runs of the late 90's. A huge rotation is going on where investors are taking profits from their Mag-7 stocks and spreading it into the Russell (IWM). So, the NASDAQ and S&P are red, Gold is up $30, CAT is up $15, and HD is up $10. This is pretty crazy.

Thursday: Yesterday the NASDAQ dropped the most in a single day since 2022, but the DOW continued to scream higher. This morning initial jobless claims rose to 243k.

Friday: U.S. futures are recovering after the largest IT outage in history impacted airlines, healthcare, media, and banking industries. The issue appears to have come from CrowdStrike (CRWD). Their ‘Falcon Sensor’ software is causing Microsoft Windows to crash and display ‘the Blue Screen of Death’. Markets are also digesting comments from Donald Trump last night as he concluded the 4-day RNC. Coming into Friday, the S&P and Nasdaq are on track for weekly losses as investors take profits in tech ahead of earnings season.

Morgan Moments…

It’s a masterclass in storytelling… https://youtu.be/0HjDpPnxcP0?feature=shared It’s not written especially well or funny, but raises an issue that most people never think about – in a way they can clearly understand. If you must explain why people should care about your product, you need to do it as simply as possible with a smile on your face. That is what this ad does.

Do you know how bad things got in this crypto correction? The average max. drawdown this year has been 68%. This was NOT just a sideways and consolidating market, but rather one where some serious damage took place. The flipside is that this aggressive bounce that we’re seeing is a testament to how difficult it is for any crypto bear market to sustain itself – when you have a raging bull market directly outside (and often connecting) with the crypto landscape itself.

Next Week: Is that a Bear I hear?

Bkgd: One week does not reverse the large-cap tech outperformance trend. Typically we see volatility pick up around major turning points such as this. Watch to see if small-caps and other neglected market areas have any staying power. Everyone is waiting on confirmation prior to making any larger bets in the space. The risk is that the current selloff shakes previously strong confidence and sets off a number of market dominos.

Tech is choppy and cyclical… Microsoft is down, Nvidia has broken the $120 level, and Apple is 4 days removed from all-time-highs. This is not real ‘sell-side’ activity. Traders are simply cashing in some winners, and buying crap that nobody else has wanted – like Starbucks (SBUX). When the selling becomes ‘real’ – nobody will be spared the pain.

Adv/Decline line is still not displaying correlation… In the S&P100, we had 60’ish products to the downside at any given time. During correlation / capitulation, that number would be closer to 90+. When we see high degrees of correlation (i.e. 90% of stocks moving to the downside) – that’s when we can experience capitulation, and we’re just not there.

Volatility Futures are up, but far from ‘rockin’… We’re starting to hit a patch of volatility, but we haven’t seen any serious selling as of yet. We’re coming into tech earnings weeks, and by early August – we could be off-to-the-races again. Watch the S&P futures (/ES) and look to see if we’re down 2% - 3% - because that is the level where real selling could begin.

Any exits have been small and orderly… With only 7 products driving this market (Mag-7), just watch the Put/Call ratios for those specific stocks to see if any large (un-orderly) amount of PUT contracts are being purchased (none to date).

Volatility could make this market less-orderly… Instead of the VIX, I use Volatility Futures (/VX) to sense trading volatility. Currently, the /VX is not moving dramatically higher – because there’s no elevated degree of correlation. YTD: NVDA is up +140%, META +37%, and the S&Ps +16%. So, although there is selling – this is not a massive portfolio hit.

Expected moves are starting to expand… The last time the S&Ps closed outside their Expected Move to the downside – was mid-April. I suspect that Monday will bring us a bid back under the market and traders will be thinking about buying PUTs on the bounce. Tip #3: If you feel the urge, do NOT BUY Puts, but rather SELL Calls in this marketplace. When options are cheap – buying options was the way to go. Now that options are elevated – let the market pay you those higher prices.

Expected Moves (EM):

Last Week’s (EM): $64 … and we moved ~$105 (almost 2 Std. Dev’s to the downside)
Next Week’s (EM): $85 … should cause you to ‘scale back’ your trading because you’re getting more bang-for-your-buck. Tip #4: With increased volatility must come increased control. Scale back the size of each trade.

TIPS:

HODL’s: (Hold On for Dear Life)

13 to 17-Week Treasuries @ 5.44%
Physical Commodities = Gold @ $2,402/oz. & Silver @ $29.4/oz.
**Bitcoin (BTC = $67,300 / in at $4,310)
**Ethereum (ETH = 3,520 / in at $310)
HROW – Harrow Health == $25.01 / in at $12
**MARA – Marathon Digital = ($24.63 / in at $12) / Sold Sept $30 Cov-Calls
INDA – India ETF ($56.18 / in at $50) / BOT Nov, +$53 / -$55 Call Spread
**IBIT – Blackrock’s Spot Bitcoin ETF ($38.4 / in at $24)
**RIOT – Riot Bitcoin Mining ($12 / in at $12.5) / Sold Sept $16 Cov-Calls

** Crypto-Currency aware

Follow me on StockTwits.com to get my daily thoughts and trades – my handle is: taylorpamm.

Please be safe out there!

Disclaimer:

Expressed thoughts offered within the BARRONS REPORT, a Private and free weekly economic newsletter, are those of noted entrepreneur, professor and author, R.F. Culbertson, contributing sources and those he interviews. You can learn more and get your subscription by visiting: <http://rfcfinancialnews.blogspot.com/>.

Please write to Mr. Culbertson at: <rfc@culbertsons.com> to inform him of any reproductions, including when and where copy will be reproduced. You may use in complete form or, if quoting in brief, reference <http://rfcfinancialnews.blogspot.com/>.

If you'd like to view R.F.'s actual stock trades - and see more of his thoughts - please feel free to sign up as a StockTwits follower - "taylorpamm" is the handle.

If you'd like to see R.F. in action - teaching people about investing - please feel free to view the TED talk that he gave on Fearless Investing:

https://www.youtube.com/watch?v=K2Z9I_6ciH0

Creativity = https://youtu.be/n2QiPSe_dKk

Investing = https://youtu.be/zIIlk6DlSOM

Marketing = https://youtu.be/p0wWGdOfYXI

Sales = https://youtu.be/blKw0zb6SZk

Startup Incinerator = https://youtu.be/ieR6vzCFldI

To unsubscribe please refer to the bottom of the email.

Views expressed are provided for information purposes only and should not be construed in any way as an offer, an endorsement, or inducement to invest and is not in any way a testimony of, or associated with Mr. Culbertson's other firms or associations. Mr. Culbertson and related parties are not registered and licensed brokers. This message may contain information that is confidential or privileged and is intended only for the individual or entity named above and does not constitute an offer for or advice about any alternative investment product. Such advice can only be made when accompanied by a prospectus or similar offering document. Please make sure to review important disclosures at the end of each article.

Note: Joining BARRONS REPORT is not an offering for any investment. It represents only the opinions of RF Culbertson and Associates.

PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR GAIN WHEN INVESTING. WHEN CONSIDERING ALTERNATIVE INVESTMENTS (INCLUDING HEDGE FUNDS) AN INVESTOR SHOULD CONSIDER VARIOUS RISKS INCLUDING THE FACT THAT SOME PRODUCTS AND OTHER SPECULATIVE INVESTMENT PRACTICES MAY INCREASE RISK OF INVESTMENT LOSS; MAY NOT BE SUBJECT TO THE SAME REGULATORY REQUIREMENTS AS MUTUAL FUNDS, OFTEN CHARGE HIGH FEES, AND IN MANY CASES THE UNDERLYING INVESTMENTS ARE NOT TRANSPARENT AND ARE KNOWN ONLY TO THE INVESTMENT MANAGER.

Alternative investment performance can be volatile. An investor could lose all or a substantial amount of his or her investment. Often, alternative investment fund and account managers have total trading authority over their funds or accounts; the use of a single advisor applying generally similar trading programs could mean lack of diversification and, consequently, higher risk. There is often no secondary market for an investor's interest in alternative investments, and none is expected to develop.

All material presented herein is believed to be reliable but we cannot attest to its accuracy. Opinions expressed in these reports may change without prior notice. Culbertson and/or the staff may or may not have investments in any funds cited above.

Remember the Blog: <http://rfcfinancialnews.blogspot.com/>
Until next week – be safe.

R.F. Culbertson

<mailto:rfc@culbertsons.com>

http://rfcfinancialnews.blogspot.com

Sunday, July 14, 2024

This Week in Barrons: July 14, 2024

The Stripper Index: Per Steve F: Strippers understand how the economy is doing based on the spending and tipping patterns of their clientele. When tipping is high and clients are frequent – the economy is good. When tipping is low and the regulars are infrequent – the economy is in a recession. Factually, nearly 40% of business leaders are planning layoffs this year. As a NYC stripper tweeted: “The strip club is sadly a leading indicator, and I can promise y’all – we’re coming into a recession.”
Giving Up vs Quitting… Per Seth G: Shrugging your shoulders, caring less, or phoning it in – is one thing. People that simply stop trying – waste everybody’s time. Quitting (on the other hand) is fine because it gives everyone their tomorrow back. It opens the door for the next contribution. Train yourself to be either IN or OUT – because the top of the fence is no place to hang out.
I remember sweating through seven shirts… when my work was defined as physical labor. But physical labor may no longer be the way that we Add Value, and Adding Value is tough. So, part of our job is finding the hard parts – not avoiding them. Because the hard parts are where we can: Add Value.
How, Why and Hyperbole… Social media has ushered in 3 writing trends: (a) Paragraphs that start with ‘Why’ – that never explain ‘Why’. (b) Paragraphs that start with ‘How’ – that don’t teach you ‘How’. And (c) the ridiculous use of hyperbole that gives your article the look of a supermarket tabloid. The pressure on writers is real. If you don’t follow the trend and out-hype everyone else – then you won’t get traffic and you will fail. But remember, it’s TRUST that’s in short supply – not attention. You can always get attention, but you can’t hype your way into being TRUSTED.

The Market:

Somehow our best choice for the future leader of the free world… continues to be ‘None of the Above’. But is the stock market directly correlated to leadership incompetence, immaturity, and inaction? It seems the higher degree of incompetence and governmental inaction that is achieved – the higher the market goes. Inaction does not require price discovery, and allows for trades to be powered by positive drift – hence a lot of new all-time-highs. Maybe the market likes these choices for a reason?
‘Risk-free Return’ vs ‘Return-free Risk’: Per Anthony P, U.S. Treasuries have long been considered to be a ‘Risk-free Return’. You could buy these assets, hold them to maturity, and you were guaranteed a pre-determined return. There was no risk because the return was paid by the U.S. Government. But what if U.S. Treasuries are changing from being a ‘Risk-free Return’ asset – to a ‘Return-free Risk’ asset. It seems that long-term bond-holders are chasing the illusion of a risk-free yield – all-the-while knowing that their capital is being destroyed by the declining value of bond’s underlying value. It’s like a great dividend – it doesn’t matter how much yield you are earning when the underlying capital is going in-the-tank – just ask the Regional Banks. The flippening of ‘Risk-free Return’ to ‘Return-free Risk’ in U.S. Treasuries will be a defining moment in finance. Trillions of dollars are sitting in global 60/40 portfolios – with U.S. Treasuries as a major component of their asset allocation. At some point, common sense and cash-flow will prevail.

Learn about Value Investor Daily here...

InfoBits:

Silver is up 36% YTD and trading at 12-year highs.

77% of big money is long on Silver, and institutional long contracts are sitting at 3-year highs.
There was a shortfall of 663m ounces of silver between 2021 to 2023. That’s the equivalent of 80% of the global mining output.
Another 215m ounces are needed this year just to meet demand.

NASCAR joins the global race to spur EV demand… by unveiling a new electric SUV with twice as much horsepower as their current gas-powered vehicles, but as quiet as a church-mouse.
How does this political storm end? To quote Ernest Hemingway: "Gradually, then suddenly.
Coffee is only getting more expensive… up 70% YTD. [We dropped coffee from the inflation reading because it was driving our inflation index to high. It was politically easier to explain a lower fake number – than a higher real one.
Non-alcoholic-beer maker Athletic Brewing… doubled its valuation as more people become sober-curious.
Boeing is said to be in talks with the DOJ… over how to keep its contracts after pleading guilty to criminal charges. After all, 37% of Boeing's revenue comes from gov’t deals.
“If we loosen interest rate policy too late or too little, we could hurt economic activity. If we loosen our policy too much or too soon, we could undermine the progress on inflation.” … Jerome Powell
Saks Fifth Avenue bought rival Neiman Marcus for $2.6B… to meet luxury’s direct-to-consumer boom head on.
Eli Lilly is acquiring drug developer Morphic for $3.2B… giving it access to oral treatments for inflammatory bowel diseases, ulcerative colitis, and Crohn’s disease.
Per Steve F: The Royal Bank of Canada… took steps to seize 82 San Francisco apartment buildings (1,200 units) – owned by Goldman Sachs. GS had defaulted on their ~$700m loan repayment. [This could start a real-estate tsunami of immeasurable proportion.]
“Look Ma – No Hands”… as Microsoft and Apple both abandon their OpenAI board seats in light of increased antitrust scrutiny.
The median homebuyer age is now 49… 10 years higher than 20 years ago.
Gold broke over $2,400 again last week.
Romantasy book demand has led bookstores… to devote more shelf space to the titles – driving up sales. Indie stores report that Romantasy accounts for about 70% of sales.
The FTC is suing UnitedHealth, CVS, and Cigna… over their pharmacy-benefit managers. These price-gauging intermediaries are what is inflating drug prices.

Crypto-Bytes:

Less efficient Bitcoin miners are now unprofitable… leading to a shakeout of weaker miners. Bigger players like Maraton & CleanSpark continue to expand, hitting mid-year hash rate targets despite the turmoil.

Traders are now pricing in… a 70% probability that the Fed first cuts rates come in September. They see two quarter-point rate reductions in 2024.

CFTC Chairman Rostin Behnam declared that… 70%-80% of cryptocurrencies are non-securities, labeling BTC and ETH as commodities.

President Biden could support comprehensive crypto regulation… as a move to counter Trump's pro-crypto stance.

Facing 276% inflation… Argentinians are turning to USDT to protect their savings. This highlights the unique role of stablecoins in hyperinflationary environments - and they’re easier to obtain than going to a bank.

Per Krisztian S.: “The Crypto Fear & Greed Index… dropped to its lowest YTD level 10 days ago. This same gauge sent out a contrarian sell signal this past March when it reached bitcoin's then all-time high of about $73,500.”

JPMorgan predicts the crypto markets… will rebound in August as liquidations from Mt. Gox, Gemini, and the German government subside.

MicroStrategy announced a 10-for-1 stock split… aiming to make its shares more accessible to a broader range of investors.

Things I use: I’m a subscriber and user of TheoTrade. Don Kaufmann and his team are excellent traders and educators. They will make you smarter, by using their trades to make you money. Earn while you learn. Please, try it out for free yourself … R.F. Culbertson. [ Learn about TheoTrade here… ]

TW3 (That Was - The Week - That Was):

Thursday:

Today brings us the CPI. It’s out and the MoM failed to increase +0.1% as expected, but rather came in as a negative -0.1%. Core inflation came in 3.3% YoY. Markets are loving it and acting like rate cuts are right around the corner.
What an odd day. They got their dreamy CPI reading this morning, but then at 9am the futures rolled over red. The real winner was the Russell 2000. Why? Because the Russell holds a lot of debt-ridden zombie stocks. They did well when the rates were at 1%, but at 5% they get crushed each time they have to roll that debt over. A lower CPI gives them hope of rate cuts that they think will save them.
This day gets weirder by the minute. Now the NASDAQ is red by 350. Aren't the techs supposed to love rate cuts? What an odd session. Even the S&P is red by 52. Not quite the reaction to the CPI that I would have guessed. The Russell (IWM) has just been incredible. I don't think I've ever seen the Russel move over $7 in a day.

Morgan Moments…

How to run a Board Meeting (opinion piece): I’ve run my share of Board-of-Directors meetings in my day, and the Board (if used correctly) can provide a leadership team with a perspective on the business that can be very helpful. Unfortunately, many Board meetings are little more than reporting sessions – and that is a tremendous waste of both time and opportunity. Per Jack T / Fred W:

Send out a pre-read a week prior to the meeting that allows everyone to come into the meeting knowing all of the reporting information. The pre-read will include:

A sales update, pipeline, key accounts, and projections for wins in the next 6 mos.
A technology update, key priorities, and milestones over the next 6 months.
A manufacturing / support update, key partnerships, and progress timelines.
A financial update including balance sheet, P&L, and a cash forecast for the next 12 months.
A people update showing key hires made, planned, and any departures.

Schedule 60 mins to go over and discuss the pre-read material with the board.
The remainder of the meeting spend on 2 to 3 key, strategic topics that the management team is spending a lot of time thinking about. Ask for the BOD’s feedback and input on these topics.
Bring the key management team members to parts but not all of the meeting.
The CEO & founders should start and end the meeting with an executive + Board session. It’s an opportunity to let the Board know where you most need their help, and to get their feedback at the end of the meeting on how it went and any concerns that they may have.

Next Week: Change is Gradual… then Sudden

Bkg: On one hand we’ve got improving breadth, a rebound in the equal-weighted S&P index, and the prospect of bullish rotation. But, we are entering into a period of higher volatility, with a number of short-term risk indicators quietly mumbling in the shadows. Momentum remains strong; however, volatility will be moving higher. Asset managers are heavily net-long U.S. equities which means: (a) they are all on one side of the boat, and (b) there’s not much ‘dry powder’ left in terms of remaining buying power.
CPI and PPI put Rate Cuts back into the discussion… but beware, if/when rate cuts re-enter the conversation – it means that the economy is weak and requires a stimulus. The CPI came in lower than expected and caused a 50-point S&P sell-off. Then the PPI came in a little hot and caused a 60-point S&P rally. Each data release is paralyzing this marketplace with fear. Tip #1: Only BUY short-duration options (aka do not sell them).
The Rotations were manic last week… Until Thursday, Starbucks, Nike, and Lulu Lemon have not been purchased (in any volume) since forever. But be careful, a potentially slowing economy brings out all of the old bedfellows. The homebuilders (XHB) and Home Depot (HD) are suddenly popular again.
Last week the Tech sector took a breather… as many of the Mag-7 (except Nvidia and Apple) were sold. Last week buyers re-discovered industrials (XLI), utilities (XLU), retail (XRT), regional banks (KRE), and healthcare (XLV). The hot sectors were suddenly the stocks that no one has wanted to touch for months.
Options Volume has gone wild… In mid-July, we are doing 40% more options volume than anticipated. But the Dollar, the VIX, and Bonds are not screaming risk. Tip #2: Keep your head on a swivel, because we are trading Top-20 sized options volume – in the middle of an otherwise sleepy-vacation season. Remember, “Change happens gradually – then suddenly”. Only when volatility moves (/VX), will this marketplace be ready to move suddenly.
Volatility happens Gradually – then Suddenly. It took many sectors that investors had left for dead – moving 2 and 3 standard deviations higher – to keep this market moving to the upside when technology took a breather. Without Microsoft, Google, Amazon, Meta, and Tesla – utilities, retail, healthcare, and industrials had to come to the rescue.
Expected Move (EM):

Last Week = $66 … and we moved $70 higher – for the 2^nd consecutive week.
Next Week = $63 EM … and next week begins Earnings Season. So, please keep your hands and feet inside the vehicle.

TIPS:

HODL’s: (Hold On for Dear Life)

13 to 17-Week Treasuries @ 5.44%
Physical Commodities = Gold @ $2,416/oz. & Silver @ $31/oz.
**Bitcoin (BTC = $60,150 / in at $4,310)
**Ethereum (ETH = 3,200 / in at $310)
HROW – Harrow Health == $23.6 / in at $12
**IBIT – Blackrock’s Spot Bitcoin ETF ($32.8 / in at $24)
INDA – India ETF ($57.07 / in at $50) / BOT Nov, +$53 / -$55 Call Sp.
**MARA – Marathon Digital = ($20.77 / in at $12) / Sold Sept $30 Cov-Calls
**RIOT – Riot Bitcoin Mining ($9.8 / in at $12.5) / Sold Sept $16 Cov-Calls

** Crypto-Currency aware

Follow me on StockTwits.com to get my daily thoughts and trades – my handle is: taylorpamm.

Please be safe out there!

Disclaimer:

If you'd like to view R.F.'s actual stock trades - and see more of his thoughts - please feel free to sign up as a StockTwits follower - "taylorpamm" is the handle.

If you'd like to see R.F. in action - teaching people about investing - please feel free to view the TED talk that he gave on Fearless Investing:

https://www.youtube.com/watch?v=K2Z9I_6ciH0

Creativity = https://youtu.be/n2QiPSe_dKk

Investing = https://youtu.be/zIIlk6DlSOM

Marketing = https://youtu.be/p0wWGdOfYXI

Sales = https://youtu.be/blKw0zb6SZk

Startup Incinerator = https://youtu.be/ieR6vzCFldI

To unsubscribe please refer to the bottom of the email.

Note: Joining BARRONS REPORT is not an offering for any investment. It represents only the opinions of RF Culbertson and Associates.

Remember the Blog: <http://rfcfinancialnews.blogspot.com/>
Until next week – be safe.

R.F. Culbertson

<mailto:rfc@culbertsons.com>

http://rfcfinancialnews.blogspot.com