| | | | Is the COVID-19 trade back?
Many of last year's millionaires (billionaires?) were made during the beginning of the pandemic...
But whether or not we've seen the end of it is unclear.
The same high-flying stocks from only a year ago have been on the run as of late.
And it could be time to give them another look.
"Mr. X" made some incredible calls when the pandemic first hit and in his latest article he gives his thoughts on what to watch for next as the Delta variant alters the investing landscape.
Make sure to check it out below... |
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| | | | | | | You can profit no matter the direction of the market, but what are the risks?
Options Coach Chris Hood and Brian Jones talk about the current market conditions and why going short comes with its own set of problems.
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| | | | | The Elon Pump, Infrabustered, Take THC for ALZ
- Crypto Gets a Lift - Cryptocurrencies Bitcoin, Ethereum, and Dogecoin jumped from their recent lows on Wednesday as Tesla's (TSLA) Elon Musk was featured on The B-Word, an online forum hosted by Twitter (TWTR) and Square (SQ) CEO Jack Dorsey and ARK Invest CEO Cathie Wood. Musk let viewers know that he owned each of the three crypto assets and Tesla would continue taking Bitcoin as payment so long as the environmental factor improves. He also told viewers, "I might pump, but I don't dump." Nice.
- Gimme an F! - Wednesday's test vote on the $1.2 trillion infrastructure bill in the Senate failed miserably as Republican lawmakers blocked continued debate with a filibuster. The Republicans claimed that the vote was pointless as the bill wasn't ready with Senate Minorite Leader Mitch McConnell stating that "we typically write the bills before we vote on them." When Senator Ted Cruz was asked how to fix America's infrastructure, he responded with this:
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| | | - WEED - Shares of India Globalization Capital (IGC) went parabolic early Thursday morning on reports that the company received a U.S. patent for THC as a treatment for Alzheimer's Disease using its IGC-AD1 formulation. The company had begun working towards the patent which was applied for in 2016 in a joint effort and exclusive licensing agreement with the University of Florida, but multiple delays in studies held back the grant. Since when does marijuana help with memory?
- All Lucid Votes on Deck - The time has come for Tesla's (TSLA) "rival" as Churchill Capital Corp. (CCIV) and Lucid Motors are set to hold a shareholders meeting today. The business combination will be voted on by shareholders and, if approved, Lucid Motors will begin trading under ticker symbol "LCID." Now valued at over $24 billion, Lucid Motors will be the closest competitor to Tesla by market cap. However, they'll need another $600 billion to call it close.
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| | | | | Did you miss Options Coach Chris Hood's landmark event? Chris does a deep dive into his cornerstone strategy that has been paying him every week for years...
Click below to watch now.
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| | | | | HOT SPOTS: What's Going on in Geopolitics
- USA Extends Travel Curbs For Canada, Mexico - The Biden Administration is taking a cautious approach when it comes to international travel as the Delta variant of COVID-19 continues to spread. Land borders with Mexico and Canada remain closed to non-essential travel until at least August 21. This is despite Canada's decision that it would admit fully vaccinated Americans after August 9.
- The Drone Gap - In the wars of the future, drones may be the decisive weapon. But like the "missile gap" in the Cold War, a drone gap may be developing between China and the United States. Analyst Seth Frantzman warns that China is building a whole series of military drones to challenge American power. "It has a lot of resources and is willing to innovate," he says, cautioning against Washington's slowness in procurement.
- Trump Inaugural Committee Chair Charged As Foreign Agent - No, not of Russia. Tom Barrack, a longtime friend of former president Donald Trump and a chair of '45's 2017 inaugural committee, has been charged with unlawfully advancing the interests of the United Arab Emirates. Barrack and two others were charged by the Department of Justice with "acting and conspiring to act as agents" of the UAE between April 2016 and April 2018. Barrack has also been charged with obstruction of justice and making false statements to federal law enforcement.
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| | | CUTTING EDGE: What's Happening In Tech
- Nature Is A Battlefield - For the first time, scientists have captured wild chimpanzees attacking and killing gorillas. Great apes, like, well, us, are territorial and will attack enemies. However, scientists find it interesting that chimps attacked gorillas because most of these attacks only take place within the same species. Some researchers worry climate change is forcing these unnatural wars.
- Havana Syndrome Investigation Gears Up - "Havana Syndrome," a strange disease that has struck American operatives around the world with symptoms including nausea and even neurological changes, is now being targeted by the CIA. An unnamed operative who helped hunt down Osama Bin Laden is reportedly being assigned to the investigation. The strange symptoms, which many think are caused by a bioweapon, were first reported by employees of the American embassy in Cuba. Russia has been accused of using the alleged bioweapon, but the Kremlin denies it.
- Dubai Uses Fake Rain To Stop Heatwave - With enough money, anything is possible. Dubai, facing a heat wave with temperatures of up to 120 degrees Fahrenheit, may use drones that can "shock" clouds into creating rain to trump nature itself. The United Arab Emirates's National Center of Meteorology has already begun trials of the new technology. It's clearly needed - Dubai normally just gets four inches of rainfall a year.
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| | | | | | | | Nature, meet the power of International Finance |
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| | | FOR YOUR CONSIDERATION
"The ruthless logic of the market is that there will be those who profit from this permanent threat. There is no reason you shouldn't be among them."
So much for the Roaring Twenties. With the Delta variant of COVID-19 spreading fast, worries about the economy are also going viral. "Mr. X" reports from Washington on intrigue at the FDA and what to look for specifically in these confusing times.
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| | | | | | | | | *Enjoying these trade insights? Corey will soon be moving these ideas to a daily newsletter where he provides in-depth technical analysis into some of the biggest opportunities in the market... at no cost.*
Click Here and Sign Up to Before the Bell for FREE |
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| | | Welcome to another episode of The De-SPAC Meltdown.
The post-merger chart above is of Cano Health (CANO), formerly Jaws Acquisition Corp. (JWS).
This is one of the SPACs that many have forgotten due to lacking the cool factor as it's a primary care provider for seniors. But I don't know that it's worth ignoring simply because it's not a crypto or EV stock…
It's big business.
Plus, they have "laughter yoga."
But since the merger, CANO has done what most SPACs do and that's fall while investors and institutions accumulate, which is the key word here…
Borrowing from Elliott Wave Theory and legendary technical analyst Richard Wyckoff (I'm sure some hate that I'm combining the two), I've drawn what could be the next steps for the stock as it attempts to bottom out...
And this is the tough part about SPACs after a merger – the history is limited.
The numbered waves are what we have to work with for now as Elliott Wave is much more complicated than the five simple impulse waves that occur before correcting or changing trend. Of course, these are only but so accurate in the short term.
As for a "prediction," the white trendlines show just one potential direction that CANO could take as it looks to turn around…
But what matters most is that the general trend changes from downward to sideways which has yet to be seen and that's where indicators (and catalysts) come in.
The RSI (Relative Strength Index) shows it pulling out of oversold and the Chaikin Money Flow has been perking upward while the share price has fallen – the latter being a bullish divergence.
Now, one final thing to note that also bodes well for CANO is the bottom two candlesticks have formed a "tweezer bottom" which is a bullish reversal sign…
Taking a starter position within your own risk tolerance could be a solid move. I just wouldn't be surprised to see it knocked down a bit more.
All the more reason to scale in… Or you could simply wait it out for a higher high and low in order to confirm the new trend…
You'll miss the bottom, but you'll also miss the falling knife. And one hurts worse than the other.
Either way, I'll be watching CANO because "boring" businesses tend to do well.
-Corey
(Disclosure: I hold no position in CANO.) |
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