| | | | Remember last year when the SPX was in the middle of its free fall?
Clients were ringing the phone off the hook and my joint work partner and I were considerably bored since we couldn't meet with anyone... I spent a lot of time at the gym...
But despite our efforts, investors were inclined to continue selling.
And when the coast was clear, they bought back above the price where they sold...
A perfect "told ya so" moment, but that's poor form and I'm not that guy.
Fast forward to the last two weeks and we're seeing it again...
This is why cash is king, if used correctly.
If the story hasn't changed and your reasons are the same, there's a good chance you're missing out on an opportunity...
And with talk of opportunities, Dr. Moors posted another Spy Tale and gives an account of some of his own that involved Hollywood celebrities while working as a CIA operative...
A few weeks ago we were on the phone and he told me a few of the stories which blew me away.
It's a good read. Check it out below. |
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| | | | | | | | | | | | | | | Tacos and Cryptos, Say No to Hollywood, Biden to the Rescue - Janet Yellen Will Never Eat a Chalupa Again - NFTs (non-fungible tokens) continue hogging headlines, but this time it involves the quick-service restaurant with the most authentic Mexican food, Taco Bell. Diving into the three-year-old trend, five versions of five different "NFTacoBells" were put up for auction on digital auction website Rarible.com and sold out in less than 30 minutes. Although each piece was listed with a $1 starting bid, some have resold for over $18,000 in Ethereum. Alright, that's enough.
- The Wheaties of the Stock Market - With experts estimating SPAC IPOs to be on track to hit 1000 by the end of the year, deals led by celebrities and pro athletes are throwing up red flags for officials. Investing guidance and watchdog website Investor.org posted a public service announcement written by the SEC yesterday to issue a sort of caveat emptor warning investors of buying SPACs involving the rich and famous. In other words, don't buy stocks with celebrity endorsements... even if it's someone like Leonardo DiCaprio...
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| | | - "I'll take the check." - Actually, a large number of Americans will. Yesterday evening, the bill with the corniest name in the history of US legislation - the American Rescue Plan - was approved in the House of Representatives by a slim margin of nine votes cast by House Democrats. But before investors can put their $1,400 to good use, like buying shares of GameStop (GME), President Joe Biden will have to sign the bill by the end of the week. Did you know part of the bill is going to concert venues?
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No Roadblocks for Roblox - For the first direct listing of the year, Roblox's (RBLX) IPO sure was a hoot. On its first day of trading, investors dispensed with the idea that the gaming company was merely a $45 stock and pushed the price up 54.4% by the end of yesterday's session. Roblox closed at $69.50 giving the company a market cap north of $38 billion and CEO David Baszucki a net worth of $4.6 billion. But being the father of four kids, it may not be enough.
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| | | | | | | | HOT SPOTS: What's going on in geopolitics
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| - Back In Brazil : Brazilian president Jair Bolsonaro, sometimes called the "Trump of the tropics," has been heavily criticized for his response to the COVID-19 pandemic. However, he's benefitted from a divided opposition. That advantage ended after a court threw out a conviction against his predecessor Luiz Inacio Lula da Silva, known popularly as "Lula." Though Lula has not publicly said he will run to reclaim the presidency, he delivered a fiery speech on Wednesday condemning the incumbent and claiming Brazil had no effective government. For his part, Bolsonaro said the former president had nothing to offer but lies and disinformation.
- Chuck Confronts China: Senate Majority Leader Chuck Schumer, fresh off a Democratic victory passing the $1.9 stimulus bill, is pushing his party for new legislation against China. The legislation would provide funding to maintain American leadership (assuming the USA still has it) in areas like AI and quantum computing. American leaders are also concerned about Chinese control over parts of the supply chain for semiconductor manufacturing.
- Man Bites Dog - Mexico Pushes For More Immigration Law Enforcement: Usually, it's the United States which is pushing Mexico to contain migrant caravans. However, Mexican President Andres Manuel Lopez Obrador (known as AMLO) is worried that President Biden's presumed leniency is creating more uncontrolled caravans and a possible boom for cartels. "We need to work together to regulate the flow, because this business can't be tackled from one day to the next," said AMLO. No word yet from the White House on what will be done, if anything.
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| | | CUTTING EDGE: What's Happening In Tech
Selling Tweets For Bitcoin - What a time to be alive. Twitter's Jack Dorsey is selling the unique digital signature rights for his first tweet, "just setting up my twttr." The auction will end on March 21. Bids are already up to $2.5 million but Dorsey says he will turn the proceeds into Bitcoin (which will then be given to a charity in Africa). Dorsey's a major believer in cyryptocurrency; even though he won't personally profit from this auction, he's helping legitimize it by giving Bitcoin a new reputation for helping deserving causes.
Going off road in my Canoo - Another day, another Electric Vehicle company. Canoo Inc. says it will deliver a "pod-like electric pickup" by 2023. Chairman Tony Aquila said the truck would have the turning radius of a Prius but could take the payload of a full-sized pickup. "This is like no truck you've ever seen," he promised. At least the name is.
Microsoft blows it - It's rather horrifying that there even are 10 distinct hacking groups. However, it's worse than that. "At least" 10 hacking groups are reportedly using a software flaw in Microsoft's email server software to break into machines. This news comes just after Norway and Germany identified flaws in Microsoft's system. If you're using Microsoft Exchange, you might want to change your passwords, just for a start.
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| | | | | | It's already too late, "NoobMaster1991" has all your passwords |
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| | | FOR YOUR CONSIDERATION
"There have been a number of remarkable memories from the parties there. But my favorite has to be Cannes 2007 when Clooney, Pitt, Damon, and the ten other stars from Ocean's Thirteen were all staying there. You could walk right up and say bonjour."
How many people can say they partied with the stars at the Cannes Film Festival... while also gathering intel on possible foreign adversaries? Dr. Kent Moors can - this Spy Tale is straight out of a screenplay.
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| | | | | | | | | | Just like every other chart I've reviewed over the last two weeks, Lululemon (LULU), has fallen due to the market scare.
Buying opportunity? Possibly, but there are several things to consider.
The redline at the bottom shows a clear level of support. From longer term to short term and descending in width, relatively speaking, I've drawn trendlines in gold.
Beginning with the bottom short term trendline, the share price hit resistance yesterday and didn't quite make it over the hump, but a break above this will put the stock towards the next level of resistance around $325 and in the longer term around $370.
Here's where I'd be cautious: the gray bubble shows the 50-day simple moving average (blue) is close to crossing down over the 200sma (green).
This is known as the "death cross".
I'd watch it for now, but it could be good for a short term swing.
-Corey
(Disclosure: I hold no position in LULU.)
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| | | | | | | | | | Copyright © 2020 Rogue Investing. All Rights Reserved. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Rogue Investing.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for any trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. By downloading this book your information may be shared with our educational partners. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of Rogue Investing.com may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. An InvestPub Company. |
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