| | | | I watched in amazement yesterday as investors were "taken" out of their positions...
Only to then see futures on the rise by the evening time...
The déjà vu has settled in for many, and although they might be right, it's too early to be sure.
But the one thing you and I can do is make sure we keep some opportunity money off to the side...
And watch the positions you've been wanting to get into along with the ones you're already in.
"Mr. X" has some words of advice on how to handle the current market environment as well as what to be on the lookout for to stay profitable...
Read it 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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| | | | | Regulatorycoins, The "Bidenian" Slip, Risky Business
- Mom Says to Get It Done - After a break from commenting on cryptocurrencies, Treasury Secretary Janet Yellen began sounding the alarm once again on Monday, only this time she's focusing on a more specific asset - stablecoins. Yellen met with a number of officials from various agencies to discuss the growing asset class as more people have begun using them similar to money market funds. Stablecoins are considered less volatile than other forms of digital assets like Bitcoin and Ethereum, but Yellen and other experts have warned that without proper regulation, liquidity could create problems. According to the Treasury, she told everyone to hurry up.
- Maybe He Meant Manslaughter - President Joe Biden backtracked a little bit yesterday in order to clarify a controversial comment made referencing Facebook (FB) which confused many, including some of the company's executives. Simply put, Biden stated that the social media giant is "killing people." The comment was taken out of context, of course, leaving President Biden to explain that he was referring to misinformation being spread about vaccines that was responsible for COVID-19 deaths, not Facebook. We're clear, folks. You can log back in now.
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| | | - First Dogecoin, Now Ethereum - If you're wondering why Ethereum has just fallen to a three-month low, the cryptocurrency's co-founder might deserve some of the blame. Anthony Di Iorio announced that he was leaving the crypto world for a number of reasons, but particularly because he doesn't feel "necessarily safe." Di Lorio also stated that he would be selling his other digital venture Decentral, a crypto wallet business, and would be focusing on philanthropy. Did they get to you, Anthony?
- The Big Drop - The Dow Jones Industrial Average fell by 725 points on Monday, marking the biggest single day drop for the index in 2021. With the growing number of COVID-19 cases attributed to the Delta variant, investors sold off in a panic. Shares of companies known for being part of the recovery like American Airlines (AAL) and Norwegian Cruise Lines (NCLH) fell close to 5% while "Covid Stocks" like Alpha Pro Tech (APT) jumped by 29%. Not this again.
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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
- China Threatens Japan - I'm still stunned at China's 180 when it comes to diplomatic tactics. A few months ago, there were reports the country would take a softer line. Now, China is straight up threatening countries with "full-scale war." This time, it's Japan on the other side of the saber-rattling, with the People's Republic warning Japan not to commit even one soldier to any defense of Taiwan.
- No Action On Microsoft Hack? - The United States and its allies blamed China for a hack of the Microsoft Exchange email server software. But so what? Unlike the sanctions it deployed against Russia in a similar situation, the White House is thus far taking no action against China with sanctions or anything else. Is the White House preparing collective action with allies... or is China simply Too Big To Fight?
- Philippine Navy Confronts China - On the other hand, it's the Philippines that is showing a willingness to confront the People's Republic. The Philippines Coast Guard claimed that it was able to drive off a Chinese warship from the South China Sea in the latest sign of tension between the two powers. The Chinese ship was only identified as "Chinese Navy Warship 189." Thus far, no response from the Chinese Navy.
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| | | CUTTING EDGE: What's Happening In Tech
- The Cost Of Aging - There's increasing consensus within the scientific community about treating aging like a disease in itself rather than treating the diseases that come with aging. A new study published in Nature put the cost of aging at $38 trillion a year. The new approach would be to change the orientation of the healthcare system entirely, emphasizing strong cellular function, cutting back on inflammation, and lifelong healthy habits. Let's just get out of the pandemic first.
- Cytokinetics Soars On Clinical Data - Don't you love biotech? On a day when the market shed hundreds of points, Cytokinetics [CYTK] soared by more than 40% on strong clinical data about a new heart drug. CK-274 could potentially treat hypertrophic cardiomyopathy, a disease in which the heart muscle becomes abnormally thick. The data was from a Phase 2 study, but a Phase 3 study is expected to begin before the end of the year.
- Google Really Is Spying On You - Just because you are paranoid doesn't mean they aren't out to get you. (Or at least your data.) Google reportedly admitted to the Indian government in a closed-door meeting that Google Assistant listens to conversations even without the "Hey Google" trigger. The story was reported by the UK Sun newspaper and IndiaToday. Of course, the company "clarified" that what it really means is that it listens to "short snippets" of conversation to detect an activation trigger. But how are we supposed to know for sure?
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| | | | | | | | The X-Files Was A Documentary |
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| | | FOR YOUR CONSIDERATION
"At a time like this, keep your powder dry. Don't overreact either way."
The market bombed yesterday, but futures are looking up this morning. What's the takeaway? Don't overreact - but know what to look for. Mr. X reports from Washington on what could really move the markets, besides COVID-19 caseload reports.
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| | | | | | | Clorox (CLX) will be on everyone's radar soon if it isn't already.
If you recall from last year's pandemic sell-off, one of the stocks that did well was CLX.
Considering the current climate with the Delta variant wreaking havoc, the stock is already beginning to move out of the hole and is approaching the 200-day simple moving average (green) while also trading above all other major moving averages...
The first level of resistance to break through will be $190.00 before hitting some turbulence just under ~$195.00.
From here, a move over ~$197.00 that holds should signal a continued run higher to at least fill the minor gaps in the low $200.00's...
However, a step below $185.00 likely signals more downtime.
-Corey
(Disclosure: I hold no position in CLX.) |
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