To keep in portfolioNYSE:BAC
The next target is 50 dollars.
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Opinion
Spicy Wednesday: Share Your Most UNPOPULAR Crypto OpinionToday I want to try something different. I want to talk about your most unpopular opinion, the kind of opinion that will get you a lot of 🤡 emoji's on here and other forums.
This is your chance to share your widely unaccepted opinion. Most might disagree, but deep down you still know that you're right.
Here are a few of mine that might rustle some leaves:
- 99.9% of alts are vaporware.
- The previous cycle top was in April '21. The November top was 'faked' by FTX.
- Nearly all investors are better off to dollar-cost-average into BTC or ETH and should stay away from day-trading.
- Exchanges will actively trade against you if you trade with larger amounts.
- NFT's are useless and a scam.
Are the opinions above spicy enough? Hit me with your worst and let's have a sensible discussion.
How California Boomers Screwed Gen ZThe Golden State once glittered with the promise of the American Dream, a paradise where surf meets turf and everyone could afford a slice of heaven. But thanks to the Boomer generation, those dreams have been bulldozed and replaced with vacation homes for the wealthy and overpriced rental units. Gen Z, you might as well start saving your pennies for rent instead of a mortgage. The same folks who wax nostalgic about the good old days when they bought homes for a song have now orchestrated an epic housing crisis, ensuring that California’s golden dream stays just that – a dream. Welcome to the Golden State, where a once prosperous and burgeoning society has fallen victim to institutional decay and a shrinking middle class, courtesy of our dear Boomers who mastered the art of NIMBYism and speculative real estate.
Every generation’s moral narrative is a cover story for their greatest theft. What does this moral narrative look like for California Boomers? Well it’s superficial environmental sustainability under a facade of social progressivism. And the theft? Now that would be the Boomers stealing the opportunity and success of future generations.
CEQA, California's Environmental Quality Act, was supposed to protect nature, but Boomers turned it into a weapon to block new housing. By crying "environmental concerns," they've stalled countless developments, preserving their scenic views while future generations are priced out of homeownership. It’s a classic Boomer move: using a green facade to guard their golden nest eggs, all while younger Californians scramble for overpriced rentals. Thanks for the "environmentalism," Boomers—we'll be enjoying it from our 300SF apartment that cost $4,000 a month.
Thoughts on TruFi and the potential trend on RWA.Good deals, and may luck be on your side. Good day, dear readers. Today I suggest taking a look at the TruFi token. I'm not recommending buying it, but rather considering it from an investment perspective for the upcoming bull market.
In brief, TruFi is a lending protocol (lend/borrow) linked to RWA (real-world asset tokenization). The system even has its own not very successful stablecoin, which has recently been somewhat detached due to various events involving Binance, Justin Sun, etc., although as claimed by the teams and other people, this stablecoin was fully backed by dollars.
The token and platform's interest lies in its interaction with the real world. In my humble opinion, tokens from this sector will experience hype during market growth. Additionally, loan defaults lead to quite real legal consequences (with their pros and cons). As far as I understand, market participants (crypto enthusiasts, hodlers, coin holders, and ordinary people unrelated to institutional investments) can provide liquidity to the DeFi protocol. After that, a borrower who can borrow money, not in ethers or bitcoins, but in dollars, can be found.
Observing the perplexing movements of the stablecoin, I intentionally write this review to draw your attention to this asset. This is not a call to buy at current prices, as the price could very well break new lows before trending upward or stagnating. Nevertheless, this is a rather risky investment, suitable for a short-term peak and the first downturn of the bull market, but with the potential for decent returns. Since hitting bottom, the token has only risen by 120%, and the first subsequent minimal target would be beyond local highs, likely much higher. Even upon reaching this target, we could expect a 130% profit from this position. My motivation for investing in it (although I bought earlier and now hold about 40%) is the price bottom, token revival (albeit not very successful, as the daily candle was extinguished), prolonged accumulation, high previous highs, and potential hype associated with RWA.
The target on the chart is minimal and conditional, and cup-and-handle formations often do not play out and are frequently fictitious.
If you do seriously consider the possibility of acquiring the token, be sure to study it independently and at least read about it, as from the perspective of conservative investments, this is an extremely risky deal. I strongly advise against investing more than 0.5%-1% of your total portfolio.
This review is a work of fiction and is not an investment recommendation.
NVDA looking to crackNvidia has been jumping and pumping with the AI that has been thumping. Watch out though, it may get to dumping.
With SVB having issues I see a lot of tech worries especially in the crypto and startup space, NVDA gets a big boon from these industries as their products are great for the AI space and crypto space. I think the pump was mostly due to hype that is starting to die down, I don't see massive gains in the space in the next 4-6 months, I see the hype stalling out.
Price stalled at the 78 fib and the top of the ichimoku cloud and that is with the AI hype coming in. I drew some big triangles in white which has some geometric symbolism to me, if price was to test the bottom of the cloud before earnings we could follow those lines.
Watch the price action on short time frames in the coming days. Island Reversal will signal the dumping.
📈MY TAKE ON THE FED, INFLATION AND CREDIT📊
TLDR: I think the price increase we are seeing is not inflation, the economy is going from bad to worse and the FED's actions don't make any sense.
At the peak of the great inflation of the 70s in USA while both long and short term interest rates were going up together with inflation, so was the aggregate credit.
In fact loans to businesses were growing faster than inflation.
Whereas now, while the short term rates are going up the aggregate credit is going down. Businesses aren’t borrowing and the banks aren’t lending.
And as it was established by Milton Friedman, inflation is exclusively a MONETARY phenomenon.
Therefore price increase followed by unchanged or decreased aggregate credit in not inflation. Which is exactly what we are seeing right now.
It might be attributed to the ongoing effects of the Covid era supply shock which created long lasting bottlenecks, the war in Ukraine or some other fundamental systemic economic problem but it’s not conventional inflation which means that raising interest rates will do nothing but further damage the already weak economy (which is reflected in the unprecedented drop in demand for credit)
So, the further rate hikes that were hinted yesterday by the FED don’t make any sense and we should be expecting a fast race to the zero with more QE when the economic sh*t hits the political fan.
But, let’s wait and see.
Beware Of Tesla Tidal Wave Tesla has been rising high and is about to go even higher Friday 6/9 after GM announces use of Tesla charging stations. Beware this tidal wave will crash eventually but it will be a more subtle correction. We should expect Tesla to drop 2-10% in a single or multi day correction next week. After this correction Tesla should remain stable and continue its steady growth pattern. For short term traders Friday would be a good day to cash out for those who are only riding the wave and not in it for the long run. As a real estate investor who raises funds in the stock market with Tesla being 1 of 10 stocks in my Real Estate portfolio, I plan to increase my Tesla position Wednesday next week. With a currently very small position that is up 20%, I am looking to 5x my position Wednesday. So when you hear me talk about selling the position, that is strictly for those looking for a quick guaranteed profit. As a bullish Tesla investor I look forward to future explosive growth. This is strictly an opinion excerpt written by Anthony Ruggiero ( Myantman101)
BTC Accumulation phase in action on 6h TFBINANCE:BTCUSDT
In my opinion, Bitcoin is in an accumulation phase, and right now everything looks by the book. I'm waiting for trading volume to enter a long position.
Note, there may be another drop to the golden area below. If the price reaches there, I will start accumulating as well.
Be the smart money. Good luck, be careful and DYOR
Looking like a head and shouldersSo I felt like we had a good shot to go down, today was wild and we managed to regain a lot of the losses but stalled out and formed a head and shoulders pattern. I think buyers are out of gas and we may get a sell off to end the week.
Measured move on the channel, Measured move on H&S all point to 4100-4110. This is near max pain 404-405 on a critical options week and lines up with horizontal resistance.
Just my opinion.
Good luck :)
Watch for Break, SPY Sell off into EoW options ExpirySo Max pain for 4/21 is 403 currently on SPY which tells me the street would be happy to see some downside in the coming days. Also looks like we rejected the upper trendline and are now testing the bottom of the channel. If we break it the measured move takes us to horizontal support. I am thinking we may have that sell off to close out the week.
Good Luck :)
Just my opinions
Tesla about to bum out investors?So I have been watching the Investor day and this was basically the jist:
1) Tesla can lead the world in renewables and by 2050 Tesla will have a great market share of the renewable energy market.
2) AI is the future and so is electric cars, driving your car will be like the riding a horse... some day.
3) No new products coming anytime soon, no new vehicles announced. You know Tesla always delivers ;)
4) There are a lot of issues with the production of Tesla Vehicles that are difficult, they have learned a lot and the next product (not announced) will be built more efficiently.
6) Tesla is Awesome! Tesla is the Future! Tesla has the best engineers and is kicking ass. Tesla has the best drive train!
7) A basic AI course... your self driving car uses similar tech as... Chat GPT... ;)
I don't think it is necessarily bad... but it doesn't seem like anything big is coming anytime soon, I expect the hype to fade and retail to be bummed out.
Also looks like we may be ending the distribution phase and forming a head and shoulders on the chart.
Wojak buys Tesla, was it FOMOLets meme it up.
Wojak was thinking he could ride Tesla back to all time highs, he saw it was up 100% in just 1 month. Wojak thinks he will double his money easily in the next few months, the bull market is just getting started he says. He thinks to himself, we broke out of the trend line on the SNP500 Covid is Over. The fed is going to pivot. Lets go All-in.
Ring Ring Ring.
Yes?
He Bought?
Begin Operation 50 point rate hike.
Be careful Wojak!
Learnt my shit over 1,5 years - read description to learnFacts:
- You not tryna predict the market
- You can't trade just based off of indicators
- You gotta learn price action
- Gotta use higher timeframes
- Gotta be patient and understand that this shit finna take time
- You can't learn from youtube alone, get some courses / figure sum shit out
- Most of the people who trade unregulated brokers and are tryna sell something to you are SCAMMERS
- You gotta keep it simple. Make a rules based system and follow it.
etc etc
If you see this, and you're actually interested in trading, I could write an even longer thread in comments
Relay your interest towards my opinions thru leaving a comment
Can dumb money outwit smart money?
I decided to try looking at the insider buys and sells recently to see if I can get an insight into what may happen in the coming months.
I was specifically looking for CFO & COO buys and sells larger than 5% of their portfolio, I figure the CFO and COO have good insight into the company and if they are taking a sizable portion of their holdings it should have some meaning. Here are the results
# of CFO or COO who sold 5% or more since friday: 13
# of CFO or COO who bought 5% or more since friday: 3
# of CFO or COO who sold 5% or more in January: 150
# of CFO or COO who bought 5% or more in January: 16
Overall It looks like the hedge funds and insiders are trimming their positions while retail is buying the dips.
There have been cases where retail actually managed to outwit the institutions but more often than not in scenarios like this there is another leg down.
I am really feeling the rug pull double top scenario drawn in orange, but I figured I would throw up the bullish case as well drawn in blue.
Just my opinion, hope you enjoyed the pictures.
FOMC RematchWell here we are again. It was a lot of chop but we are right back up to the old price range of 405-410 leading into an FOMC meeting.
Today we had some low volume and a wick on the daily chart.
The low volume signals to me that the bears gave up the fight early and are giving the bulls some room to run; however, the wick shows me that bulls are not ready to test 410 yet.
Greed is at very high levels, almost exactly where it was just before the FOMC in December.
the PCE report HIT the target, it did not miss, it did not overshoot.
There is a good reason to believe that nothing has changed in the minds of the Fed.
If they are hitting the target and the labor market is strong with stocks rallying there is no reason to pivot, they will stay the course.
When that news comes out I expect bears to make their move to push the market down.
I expect bulls to take the 25 bps hike (very likely at this point) as a positive sign and they will be very willing to buy the dip.
I am expecting some strong support around 392 since that is where we have horizontal support as well as the trendline from our October drop (Drawn in white)
Earnings and other news will be critical for bears if they want to push lower, definitely a lot to watch in the upcoming weeks.
SPY: Is a Rug Pull imminent?I feel we are about to experience a serious sell off. I am feeling this because of the divergences on the RSI and McLellan Oscillator. We are also stalling out at critical resistance.
I am seeing a large inflow of dumb money which lines up with price corrections in the past.
There is also the wallstreetbet sentiment that we must be going positive because an earnings recession is "Priced in" I am less confident.
Fed may even raise rates by 50 pts. Briefly it was priced in on the US 3 month earlier this month but it sold off and has been creeping up the past few days making 25-50 the expected range.
I drew the rug pull scenario in Orange.
possible wyckov accumulation on TeslaI think we may have our short term bottom in for Tesla. Today was terrible for the company and the price hit a new low. We managed to recover back to previous lows which makes me think there could be room for a rebound and we should not really go much lower, it feels like the support is strong.
I have drawn a bullish path in green. This could form a bear flag as well and we could move to lower lows depending on earnings. A lot to watch over the next few weeks.
Bearish ScenarioI was just dawning and saw some patterns showing up, there are some possible catalysts if there is recessed earnings and a late fed pivot . There are also some people talking about budget concerns and debt ceiling.
all over reddit people are saying the bull market is back on. I think it may be a trap.
I am watching if we can confidently break above the red line of resistance and then retest it as support. We may need some good news to keep up the rally this week.
TSLA looking to bounce towards 150TSLA has been absolutely destroyed over the past month breaking support structure much faster than I personally expected.
I have a feeling we may be seeing the possibility of a dead cat bounce from this position. We are extremely oversold and the idea of shorting TSLA has become mainstream on the famous WallstreetBets.
I think that we are a bit too sold off prior to earnings and that there will be some buying just to hedge the possibility of a strong beat.
Longterm I am still bearish on TSLA but nothing goes straight down and I expect a better short position to show itself after a slight reverse rally.
Happy New Year :)
But wait, their's more.I believe BAT will continue to fall for at least the next 20 days. It still has about 20% to go until we hit the floor on Gemini. What do you think?
SPY looking to crack after Election RallyI drew this neon blue channel that I felt we were headed down last week. The fed meeting caused us to crash right through it as Powell really laid it on thick with the talk of rate hikes and future demand destruction.
We broke the yellow support lines on that news, which to me is bearish since it forecasts that the market is willing to make another leg lower if given the opportunity.
We were heavily oversold on the short time frame and the election rally was in full swing (Drawn in the white channel)
Late last night futures started to sell off which I drew in the darker blue channel.
all of this chop has brought us back into the original neon blue channel. I would be watching this to see if we can confidently break out of it or if we do start sliding down.
Overall I am bearish with the potentially high CPI numbers coming out this Friday.
Just my opinion
SPY looking to retest channelIt looks like we rolled over today.
I saw this blue channel forming from the top we made a few days back.
It looks like we are currently sliding down it and today we managed to test both the top and bottom of the range but the top side gave us a strong rejection (This also painted a Head and Shoulders on the SNP500).
I feel like there is a good chance we follow the blue channel and retest the bottom of the larger yellow channel.
SPY following its bullish path, watch for resistanceWe got some big resistances up ahead at 4000-4100, I think we may be able to reach those levels or at least we can test the upper target I initially placed. I expanded yellow channel and the resistance is drawn in red indicating the overhead.
We can run into horizontal resistance and get stalled by a 75 pt rate hike next wednesday, Overall I don't think we will go bullish for too much longer. I am keeping an eye on the channel to see how it plays out.
Overall we are looking bullish for the short term.
Just my opinion.
