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DDDD - The Rise of “Buy the Dip” Retail Investors and Why Another Crash Is Imminent

DDDD - The Rise of “Buy the Dip” Retail Investors and Why Another Crash Is Imminent
In this week's edition of DDDD (Data-driven DD), I'll be going over the real reason why we have been seeing a rally for the past few weeks, defying all logic and fundamentals - retail investors. We'll look into several data sets to see how retail interest in stock markets have reached record levels in the past few weeks, how this affected stock prices, and why we've most likely seen the top at this point, unless we see one of the "positive catalysts" that I mentioned in my previous post, which is unlikely (except for more news about Remdesivir).
Disclaimer - This is not financial advice, and a lot of the content below is my personal opinion. In fact, the numbers, facts, or explanations presented below could be wrong and be made up. Don't buy random options because some person on the internet says so; look at what happened to all the SPY 220p 4/17 bag holders. Do your own research and come to your own conclusions on what you should do with your own money, and how levered you want to be based on your personal risk tolerance.
Inspiration
Most people who know me personally know that I spend an unhealthy amount of my free time in finance and trading as a hobby, even competing in paper options trading competitions when I was in high school. A few weeks ago, I had a friend ask if he could call me because he just installed Robinhood and wanted to buy SPY puts after seeing everyone on wallstreetbets post gains posts from all the tendies they’ve made from their SPY puts. The problem was, he actually didn’t understand how options worked at all, and needed a thorough explanation about how options are priced, what strike prices and expiration dates mean, and what the right strategy to buying options are. That’s how I knew we were at the euphoria stage of buying SPY puts - it’s when dumb money starts to pour in, and people start buying securities because they see everyone else making money and they want in, even if they have no idea what they’re buying, and price becomes dislocated from fundementals. Sure enough, less than a week later, we started the bull rally that we are currently in. Bubbles are formed when people buy something not because of logic or even gut feeling, but when people who previously weren’t involved see their dumb neighbors make tons of money from it, and they don’t want to miss out.
A few days ago, I started getting questions from other friends about what stocks they should buy and if I thought something was a good investment. That inspired me to dig a bit deeper to see how many other people are thinking the same thing.
Data
Ever since March, we’ve seen an unprecedented amount of money pour into the stock market from retail investors.
Google Search Trends
\"what stock should I buy\" Google Trends 2004 - 2020
\"what stock should I buy\" Google Trends 12 months
\"stocks\" Google Trends 2004 - 2020
\"stocks\" Google Trends 12 months
Brokerage data
Robinhood SPY holders
\"Robinhood\" Google Trends 12 months
wallstreetbets' favorite broker Google Trends 12 months
Excerpt from E*Trade earnings statement
Excerpt from Schwab earnings statement
TD Ameritrade Excerpt
Media
cnbc.com Alexa rank
CNBC viewership & rankings
wallstreetbets comments / day

investing comments / day
Analysis
What we can see from Reddit numbers, Google Trends, and CNBC stats is that in between the first week of March and first week of April, we see a massive inflow of retail interest in the stock market. Not only that, but this inflow of interest is coming from all age cohorts, from internet-using Zoomers to TV-watching Boomers. Robinhood SPY holdings and earnings reports from E*Trade, TD Ameritrade, and Schwab have also all confirmed record numbers of new clients, number of trades, and assets. There’s something interesting going on if you look closer at the numbers. The numbers growth in brokers for designed for “less sophisticated” investors (i.e. Robinhood and E*Trade) are much larger than for real brokers (i.e. Schwab and Ameritrade). This implies that the record number of new users and trade volume is coming from dumb money. The numbers shown here only really apply to the US and Canada, but there’s also data to suggest that there’s also record numbers of foreign investors pouring money into the US stock market as well.
However, after the third week of March, we see the interest start to slowly decline and plateau, indicating that we probably have seen most of those new investors who wanted to have a long position in the market do so.
SPX daily
Rationale
Pretty much everything past this point is purely speculation, and isn’t really backed up by any solid data so take whatever I say here with a cup of salt. We could see from the graph that new investor interest started with the first bull trap we saw in the initial decline from early March, and peaking right after the end of the crash in March. So it would be fair to guess that we’re seeing a record amount of interest in the stock market from a “buy the dip” mentality, especially from Robinhood-using Millennials. Here’s a few points on my rationalization of this behavior, based on very weak anecdotal evidence
  • They missed out of their chance of getting in the stock market at the start of the bull market that happened at the end of 2009
  • They’ve all seen the stock market make record gains throughout their adult lives, but believing that the market might be overheated, they were waiting for a crash
  • Most of them have gotten towards the stage of their lives where they actually have some savings and can finally put some money aside for investments
  • This stock market crash seems like their once-in-a-decade opportunity that they’ve been waiting for, so everyone jumped in
  • Everyone’s stuck at their homes with vast amounts of unexpected free time on their hands
Most of these new investors got their first taste in the market near the bottom, and probably made some nice returns. Of course, since they didn’t know what they were doing, they probably put a very small amount of money at first, but after seeing a 10% return over one week, validating that maybe they do know something, they decide to slowly pour in more and more of their life savings. That’s what’s been fueling this bull market.
Sentiment & Magic Crayons
As I mentioned previously, this bull rally will keep going until enough bears convert to bulls. Markets go up when the amount of new bullish positions outnumber the amount of new bearish positions, and vice versa. Record amounts of new investors, who previously never held a position in the market before, fueled the bullish side of this equation, despite all the negative data that has come out and dislocating the price from fundamentals. All the smart money that was shorting the markets saw this happening, and flipped to become bulls because you don’t fight the trend, even if the trend doesn’t reflect reality.
From the data shown above, we can see new investor interest growth has started declining since mid March and started stagnating in early April. The declining volume in SPY since mid-March confirms this. That means, once the sentiment of the new retail investors starts to turn bearish, and everyone figures out how much the stocks they’re holding are really worth, another sell-off will begin. I’ve seen something very similar to this a few years ago with Bitcoin. Near the end of 2017, Bitcoin started to become mainstream and saw a flood of retail investors suddenly signing up for Coinbase (i.e. Robinhood) accounts and buying Bitcoin without actually understanding what it is and how it works. Suddenly everyone, from co-workers to grandparents, starts talking about Bitcoin and might have thrown a few thousand dollars into it. This appears to be a very similar parallel to what’s going on right now. Of course there’s differences here in that equities have an intrinsic value, although many of them have gone way above what they should be intrinsically worth, and the vast majority of retail investors don’t understand how to value companies. Then, during December, when people started thinking that the market was getting a bit overheated, some started taking their profits, and that’s when the prices crashed violently. This flip in sentiment now look like it has started with equities.
SPY daily
Technical Analysis, or magic crayons, is a discipline in finance that uses statistical analysis to predict market trends based on market sentiment. Of course, a lot of this is hand-wavy and is very subjective; two people doing TA on the same price history can end up getting opposite results, so TA should always be taken with a grain of salt and ideally be backed with underlying justification and not be blindly followed. In fact, I’ve since corrected the ascending wedge I had on SPY since my last post since this new wedge is a better fit for the new trading data.
There’s a few things going on in this chart. The entire bull rally we’ve had since the lows can be modelled using a rising wedge. This is a pattern where there is a convergence of a rising support and resistance trendline, along with falling volume. This indicates a slow decline in net bullish sentiment with investors, with smaller and smaller upside after each bounce off the support until it hits a resistance. The smaller the bounces, the less bullish investors are. When the bearish sentiment takes over across investors, the price breaks below this wedge - a breakdown, and indicates a start of another downtrend.
This happened when the wedge hit resistance at around 293, which is around the same price as the 200 day moving average, the 62% retracement (considered to be the upper bound of a bull trap), and a price level that acted as a support and resistance throughout 2019. The fact that it gapped down to break this wedge is also a strong signal, indicating a sudden swing in investor sentiment overnight. The volume of the break down also broke the downwards trend of volume we’ve had since the beginning of the bull rally, indicating a sudden surge of people selling their shares. This doesn’t necessarily mean that we will go straight from here, and I personally think that we will see the completion of a heads-and-shoulders pattern complete before SPY goes below 274, which in itself is a strong support level. In other words, SPY might go from 282 -> 274 -> 284 -> 274 before breaking the 274 support level.
VIX Daily
Doing TA is already sketchy, and doing TA on something like VIX is even more sketchy, but I found this interesting so I’ll mention it. Since the start of the bull rally, we’ve had VIX inside a descending channel. With the breakdown we had in SPY yesterday, VIX has also gapped up to have a breakout from this channel, indicating that we may see future volatility in the next week or so.
Putting Everything Together
Finally, we get to my thesis. This entire bull rally has been fueled by new retail investors buying the dip, bringing the stock price to euphoric levels. Over the past few weeks, we’ve been seeing the people waiting at the sidelines for years to get into the stock market slowly FOMO into the rally in smaller and smaller volumes, while the smart money have been locking in their profits at an even slower rate - hence an ascending wedge. As the amount of new retail interest in the stock market started slowed down, the amount of new bulls started to decline. It looks like Friday might have been the start of the bearish sentiment taking over, meaning it’s likely that 293 was the top, unless any significant bullish events happen in the next two weeks like a fourth round of stimulus, in which case we might see 300. This doesn’t mean we’ll instantly go back to circuit breakers on Monday, and we might see 282 -> 274 -> 284 -> 274 happen before panic, this time by the first-time investors, eventually bringing us down towards SPY 180.
tldr; we've reached the top
EDIT - I'll keep a my live thoughts here as we move throughout this week in case anyone's still reading this and interested.
5/4 8PM - /ES was red last night but steadily climbed, which was expected since 1h RSI was borderline oversold, leaving us to a slightly green day. /ES looks like it has momentum going up, but is approaching towards overbought territory now. Expecting it to go towards 284 (possibly where we'll open tomorrow) and bouncing back down from that price level
5/5 Market Open - Well there goes my price target. I guess at this point it might go up to 293 again, but will need a lot of momentum to push back there to 300. Seems like this is being driven by oil prices skyrocketing.
5/5 3:50PM - Volume for the upwards price action had very little volume behind it. Seeing a selloff EOD today, could go either way although I have a bearish bias. Going to hold cash until it goes towards one end of the 274-293 channel (see last week's thesis). Still believe that we will see it drop below 274 next week, but we might be moving sideways in the channel this week and a bit of next week before that happens. Plan for tomorrow is buy short dated puts if open < 285. Otherwise, wait till it goes to 293 before buying those puts
5/5 6PM - What we saw today could be a false breakout above 284. Need tomorrow to open below 285 for that to be confirmed. If so, my original thesis of it going back down to 274 before bouncing back up will still be in play.
5/6 EOD - Wasn't a false breakout. Looks like it's still forming the head-and-shoulders pattern mentioned before, but 288 instead of 284 as the level. Still not sure yet so I'm personally going to be holding cash and waiting this out for the next few days. Will enter into short positions if we either go near 293 again or drop below 270. Might look into VIX calls if VIX goes down near 30.
5/7 Market Open - Still waiting. If we break 289 we're probably heading to 293. I'll make my entry to short positions when we hit that a second time. There's very little bullish momentum left (see MACD 1D), so if we hit 293 and then drop back down, we'll have a MACD crossover event which many traders and algos use as a sell signal. Oil is doing some weird shit.
5/7 Noon - Looks like we're headed to 293. Picked up VIX 32.5c 5/27 since VIX is near 30.
5/7 11PM - /ES is hovering right above 2910, with 4h and 1h charts are bullish from MACD and 1h is almost overbought in RSI. Unless something dramatic happens we'll probably hit near 293 tomorrow, which is where I'll get some SPY puts. We might drop down before ever touching it, or go all the way to 295 (like last time) during the day, but expecting it to close at or below 293. After that I'm expecting a gap down Monday as we start the final leg down next week towards 274. Expecting 1D MACD to crossover in the final leg down, which will be a signal for bears to take over and institutions / day traders will start selling again
5/8 Market Open - Plan is to wait till a good entry today, either when technicals looks good or we hit 293, and then buy some SPY June 285p and July 275p
5/8 Noon - Everything still going according to plan. Most likely going to slowly inch towards 293 by EOD. Will probably pick up SPY puts and more VIX calls at power hour (3 - 4PM). Monday will probably gap down, although there's a small chance of one more green / sideways day before that happens if we have bullish catalysts on the weekend.
5/8 3:55PM - SPY at 292.60. This is probably going to be the closest we get to 293. Bought SPY 290-260 6/19 debit spreads and 292-272 5/15 debit spreads, as well as doubling down on VIX calls from yesterday, decreasing my cost basis. Still looks like there's room for one more green day on Monday, so I left some money on the side to double down if that's the case, although it's more likely than not we won't get there.
5/8 EOD - Looks like we barely touched 293 exactly AH before rebounding down. Too bad you can't buy options AH, but more convinced we'll see a gap down on Monday. Going to work on another post over the weekend and do my updates there. Have a great weekend everyone!
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Forget gold and Bitcoin. This is how Id invest in stocks to get rich (current BTC/USD price is $9,182.85)

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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Bitcoin and forex are unlikely to make you wealthy. But a Stocks and Shares ISA could do so (current BTC/USD price is $9,186.57)

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Bitcoin and forex are unlikely to make you wealthy. But a Stocks and Shares ISA could do so
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Forget gold and Bitcoin. Id buy these 2 FTSE 100 shares to get rich and retire early (current BTC/USD price is $9,178.76)

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Forget gold and Bitcoin. Id buy these 2 FTSE 100 shares to get rich and retire early
Other Related Bitcoin Topics:
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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First Bitcoin Capital Corp Announces Majority Sale of Assets To Bots Inc (current BTC/USD price is $9,146.45)

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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Forget gold and Bitcoin. Id buy these 2 crashing UK shares today to make a million (current BTC/USD price is $9,109.26)

Latest Bitcoin News:
Forget gold and Bitcoin. Id buy these 2 crashing UK shares today to make a million
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Debating the value of cryptos in COVID-19 market (current BTC/USD price is $9,139.89)

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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Goodbye Chuckie!

For Trading JUNE 26TH
Continuing Claims Decline Slightly
Market & Oil Reverse Higher
Good-bye Chuckie!
Today’s market was a bore with just an early continuation of the move lower on Covid-19 spikes. Futures were down well over 280 for the DJIA but a combination of economic news and the “fair value” overnight blunted the declines. We worked up thru most of the day but the real move came from 3:00PM when we went from unchanged to close near the highs +299.66 (1.18%), NASDAQ +107.83 (1.09%), S&P 500 +33.43 (1.10%), the Russell +23.57 (1.7%) and the Transports managed to gain 100.52 (1.13%). The DJIA had 22 up and only 8 were lower with no major losers and the gainers lead by GS +63, UNH +48 and AAPL +38DP’s. Market internals were 9:5 up on the NYSE and 2:1 on NAZ, and volume on the NASDAQ was actually down about 20%. Financials, Energy, Info Tech and materials lead the way while Utilities and Consumer discretionary were the laggards.
We added some CVS 7/67.50 calls on the decline with an average price of $1.16 and they finished $ .76, and the NEM 7/17 $60’s @ 1.55 and added to on Friday @ $1.30 for an average of $1.47 triggered a 100% Up Rule sale at $2.94 this morning. They closed the day $1.98.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/ByEWVOLxlWU SECTORS: The news of COVID-19 surges in cases to new highs has caused the states of both Texas and Florida to halt the progression of their re-openings. While it doesn’t stop the phases that they are in, it does stop things from moving forward. There are states that have seen increases of up to 300% from where they were when the re-openings began. For a look at how ALL the states are doing use this link: https://rt.live/ Disney “characters” signed a petition in Florida to keep the park closed until there are actually declining numbers for the virus, something that has not started. Remember that DIS reopened the Disney Mall, just off the property. DIS is pushing back the openings both in Florida and California. In other news, Verizon (VZ) has put FB on notice that they are discontinuing their advertising on the site “indefinitely,” until FB gets a handle on hate-speech and other issues that the company finds objectionable. While there have been several smaller firms to pull ads, VZ is clearly the biggest. Albertsons, the grocery chain that was taken private priced their new IPO today. Reception by the street was so muted that they had to cut both price and size of the offering down to $800 million and priced the shares @ $16.00. The main reason for the distain is the fact that there is no money actually going to the company, but rather it all goes to the insiders who took the company private. Besides that, the insiders (current management) will still maintain control. Not the way new investors want to see the deal done. Last, I’ve written about Inovio (INO) for months now, starting when the stock moved from $3 to $6, and further when it went from $6 to $19 in just 2 weeks. The company makes a delivery system for the coming Coronavirus and the government has seen fit to finance the manufacturing, as announced earlier this week. Since Monday, when the stock closed $15.30, it has been on a tear closing $31.25 +7.38 or 31%. Today in extended hours it is now $34.54 +3.15 (10%) and the move for the first 4 days of the week is +$20 or just 133%. And just a quick note, CEC, the owner of Chuckie Cheese filed for bankruptcy. It intends to keep some stores open when it emerges from reorganization.
FOOD SUPPLY CHAIN was HIGHER with TSN +.43, BGS +.31, FLO unch., CPB +.79, CAG -.10, MDLZ +.19, KHC -.28, CALM +1.65, JJSF +.29, SAFM -.22, HRL +.91, SJM -.50, PPC -.13, KR -.05, and PBJ $30.88 +.17 (.56%).
BIOPHARMA was HIGHER with BIIB -1.04, ABBV +2.51, REGN +14.92, ISRG +.15, GILD -.53, MYL +.26, TEVA +.10, VRTX +3.97, BHC -.02, INCY +1.62, ICPT +1.24, LABU +4.27 (7.23%), and IBB $138.27 +1.87 (1.37%).
CANNABIS: was MIXED with TLRY +.33, CGC -.21, CRON -.09, GWPH +3.47, ACB -.40, CURLF +.18, KERN +1.21, and MJ $13.20 +.03 (.23%).
DEFENSE: was HIGHER with LMT +1.23, GD +.51, TXT +.57, BWXT +.29, NOC -.16, TDY +.86, RTX -.47 and ITA $161.28 +.57 (.35%).
RETAIL was LOWER with M -.34, JWN -.64, KSS -76, DDS -.58, WMT -.70, TGT +.23, TJX -.73, RL -.33, UAA +.01, LULU -1.82, TPR -.05, CPRI -.21, and XRT $41.21 +21 (.51%).
FAANG and Big Cap: were HIGHER with GOOGL +8.41, AMZN +23.09, AAPL +4.79, FB -1.09, NFLX +7.25, NVDA +11.08, TSLA +30.31, BABA -3.83, BIDU +2.08, CMG +1.05, CAT +2.93, BA -2.68, DIS -1.57 and XLK $103.57 +1.30 (1.27%).
FINANCIALS were HIGHER with GS +1.92, JPM +1.36, BAC +.33, MS +2.45, C +1.72, PNC +1.48, AIG +.60, TRV +1.64, AXP +1.32, V +2.47, and XLF $23.20 +.22 (.96%). These stocks were higher but the FED news after the close on the stress test pared gains in late trading.
OIL, $38.72 +.71. Oil was lower this morning touching as low as $37.08 I had called $36.75-37 in this mornings video, and we rallied well off those levels. I mentioned in last night’s video that it appears that prices are trying to work higher towards $45.00 but it will have to reverse quickly. The stocks were higher with XLE $37.80 +.69 (1.86%).
GOLD $1770.80 -4.50. It was a small pull-back after the strong rally of the early part of this week, and after touching $1764 we turned back higher and closed mid-range. We bought back the 3rd and final lot of NEM @ $58.86. And, we also added a half position in NEM 7/17 60 calls @ $1.55, and additional 50% @ $1.30 on Friday. We sold half on the 100% Up Rule @ $2.94 yesterday and we closed $1.98 today.
BITCOIN: closed $9,280 -5. After trading back to 8985 we rallied back to close – only $5. A break over 10,000 still sends us higher. We added 350 shares of GBTC last Wednesday @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97. GBTC closed $10.14 -.06 today.
Tomorrow is another day.
CAM
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Astounding, Amazing!

For Trading JUNE 9th
NASDAQ at New High, S&P + For Year
U.S. DOLLAR CONTINUES TO WEAKEN
Today’s market was just another day dominated by a single stock, at least initially, and BA was its name. Early in the day, when the NASDAQ was due lower, BA had added almost $200 DP’s to the average and after a while the rest of them got pulled along. At the end of the day, the DJIA was +461.46 (1.7%), NASDAQ +110.67 (1.13%), S&P-500 +38.46 (1.2%), the Russell +29.74 (1.97%) and the DJ Transports +179.89 (1.82%). Market internals were strong with NYSE A/D 4:1 while NASDAQ lagged 2.6:1 while volume was higher. The DJIA was 25 up /5 down with BA adding $173 DP’s and the next highest gainer was MCD +38. There were no other major movers, but BA is up another $7.00 in late trading. All 11 S&P sectors were higher with energy, real estate, utilities, and industrials while the least up were materials and technology.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/jkbGKvNZ2FM
SECTORS: The big news was no news initially with BA piggy backing on all of the airline and hospitality stocks recent recovery and the planned reopening of the American economy. BA was trading up about $17 pre-open but by the time the bell actually rang it opened that 17 and immediately added to those gains and by the end of the day it had traded $234.20 and finished +25.07 (12.2%). But it wasn’t done there, in afterhours trading it touched 238.50 and is currently only .01 off that price. Last Monday it had traded $144 and has gone on a 6-day tear of $95 or 66%. And that doesn’t take into account that on its recent decline it went from a high of 446 to a low of 89, so at today’s close we are up 170% since late March.
But, the most amazing thing about today’s moves were the fact that at least one company, HTZ, has actually declared bankruptcy and after trading $ .40 just 10 days ago after the filing, it started at $.80 last Thursday and today managed to close $5.53 +2.96 (115%) and is currently trading $6.70 +1.17 in after hours. Yes, I did say it declared bankruptcy, and yes there are those who will speculate on just about anything, but $6.70 is a touch pricey when 99% of bankruptcies end with the equity owners being wiped out!
And, last, I would have thought that this one was the HOMERUN of the DAY this morning when I talked about it pre-open, ENOB, Enochian Biosciences, when the news of their cure for HIV was the topic of discussion. I had it $17.00 +12.88 or 312%, but the best it could do was to open $12.67, hit $13.43 and then start to slide. It finished $6.06 +1.94 (47%) and is a few cents lower in afterhours. With today’s action in hospitality and Oil related names it probably doesn’t make the top 50 stocks with that gain.
FOOD SUPPLY: was HIGHER with TSN +1.65, FLO +.45, CAG +.51, MDLZ +1.08, KHC +1.03, CALM +.37, JJSF +3.49, SAFM +6.57, LANC +2.42, GO -1.33, HRL +.11, SJM +3.73, PPC +1.99 and PBJ $32.14 +.51 (1.61%).
BIOPHARMA was HIGHER with BIIB -5.46, ABBV +.75, REGN +7.04, ISRG -.06, GILD +.32, MYL +1.22, TEVA +.06, VRTX -.68, BHC +1.26, INCY +1.07, ICPT +4.40, LABU +2.65 and IBB $133.20 +1.85 (1.41%).
CANNABIS: was HIGHER with TLRY +1.16, CGC +1.49, CRON +1.45, GWPH +2.98, ACB +2.01, PYX +1.40, NBEV +.33, CURLF +.13, KERN +2.04 and MJ $15.27 +1.23 (8.76%).
DEFENSE was HIGHER with LMT + 3.75, GD +5.53, TXT +1.43, NOC +4.90, BWXT +2.73, TDY +3.44, RTX +2.35 and ITA $193.84 +6.97 (3.73%).
RETAIL was HIGHER with M +2.17 +24.74%) on the news that it raised $4.5billion in financing, JWN +1.34, KSS +3.42, DDS +2.11, WMT -.49, TGT +.84, TJX +.49, RL +.69, UAA +.78, LULU -4.72, TPR +.72, CPRI +2.43 and XRT $45.35 +1.00 (2.25%).
FAANG and Big Cap: were HIGHER with GOOGL +8.48, AMZN +43.00 (1.73%) on news of a new high price target of $3,300, the highest on the street, AAPL +1.30, FB -.03, NFLX -3.60, NVDA -5.70, TSLA +58.84 (6.64%), BABA -.61, BIDU +2.62, CMG -5.71, CAT +2.60, BA +33.99 (16.55%), DIS +2.39, and XLK $101.92 +.51 (.50%).
FINANCIALS were HIGHER with GS +2.39, JPM +2.40, BAC +.52, MS +.63, C +3.13, PNC +2.97, AIG +3.14, TRV +3.14, AXP +3.67, V +.29, and XLF $26.74 +.50 (1.91%).
OIL, $38.19 -1.36. Oil has managed to trade $40.44 today and fell back to the 5-day MA and closed there. We are trading up about .50 tonight and the stocks didn’t even blink at the decline. In fact, people came after every little depressed stock and many have moved several 100% in the past few days. The stocks were higher and XLE was $47.39 +2.55 (5.69%).
METALS, GOLD: $1,705.10 +22.10. After trading down to $1671 last week we had a bounce higher today and although it was an “inside-day” we closed at the highs. The action in the US$ is projecting higher prices for the metals, but it does not necessarily trade with the dollar on a day by day basis. Support is around Friday’s lows. We bought back the 3rd and final lot of NEM yesterday @ $58.86.
BITCOIN: closed $9,780 -20. After breaking down from just over 10,000 and trading as low as 8630 last Tuesday we have been clawing our way back toward 10,000. Last week we traded over $10500 but fell all the way back to the lows, but we’ve moved back toward $10,000. We added 350 shares of GBTC last Wednesday @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97. GBTC closed $11.58 + .33 today.
Tomorrow is another day.
CAM
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From Bitcoin to Zcash: Media Showers Bitcoin Market Journal Unveils New Digital Asset Rankings (current BTC/USD price is $9,511.97)

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From Bitcoin to Zcash: Media Showers Bitcoin Market Journal Unveils New Digital Asset Rankings
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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The Truth About Bitcoin and Hezbollah in Lebanon (current BTC/USD price is $9,403.16)

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The Truth About Bitcoin and Hezbollah in Lebanon
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Bitcoin Rises to $9.6K as Stocks Cheer Additional US Stimulus Plans (current BTC/USD price is $9,568.01)

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Bitcoin Rises to $9.6K as Stocks Cheer Additional US Stimulus Plans
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Encrypted Messaging Site Privnote Cloned to Steal Bitcoin (current BTC/USD price is $9,132.01)

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Encrypted Messaging Site Privnote Cloned to Steal Bitcoin
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Is Bitcoin on the brink of a breakthrough? Or a crash? Same writer offers up two scenarios (current BTC/USD price is $9,411.14)

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Is Bitcoin on the brink of a breakthrough? Or a crash? Same writer offers up two scenarios
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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JPMorgan Says Bitcoin Crash Survival Shows It Has Staying Power (current BTC/USD price is $9,432.74)

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JPMorgan Says Bitcoin Crash Survival Shows It Has Staying Power
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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First Mover: Bitcoin Recouples With Wall Street as Stocks Tumble, Fear Trade Returns (current BTC/USD price is $9,460.20)

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First Mover: Bitcoin Recouples With Wall Street as Stocks Tumble, Fear Trade Returns
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Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Astounding, Amazing!

For Trading JUNE 9th
NASDAQ at New High, S&P + For Year
U.S. DOLLAR CONTINUES TO WEAKEN
Today’s market was just another day dominated by a single stock, at least initially, and BA was its name. Early in the day, when the NASDAQ was due lower, BA had added almost $200 DP’s to the average and after a while the rest of them got pulled along. At the end of the day, the DJIA was +461.46 (1.7%), NASDAQ +110.67 (1.13%), S&P-500 +38.46 (1.2%), the Russell +29.74 (1.97%) and the DJ Transports +179.89 (1.82%). Market internals were strong with NYSE A/D 4:1 while NASDAQ lagged 2.6:1 while volume was higher. The DJIA was 25 up /5 down with BA adding $173 DP’s and the next highest gainer was MCD +38. There were no other major movers, but BA is up another $7.00 in late trading. All 11 S&P sectors were higher with energy, real estate, utilities, and industrials while the least up were materials and technology.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 1900 members. I also did this video titled “How to survive being an options trader and not blow up your account,” over the long weekend. I think it’s very informative as a guide to stock selection and option choices. The link is https://youtu.be/Y7H9RpWfLlo Enjoy!!
Tonight’s closing comment video https://youtu.be/jkbGKvNZ2FM
SECTORS: The big news was no news initially with BA piggy backing on all of the airline and hospitality stocks recent recovery and the planned reopening of the American economy. BA was trading up about $17 pre-open but by the time the bell actually rang it opened that 17 and immediately added to those gains and by the end of the day it had traded $234.20 and finished +25.07 (12.2%). But it wasn’t done there, in afterhours trading it touched 238.50 and is currently only .01 off that price. Last Monday it had traded $144 and has gone on a 6-day tear of $95 or 66%. And that doesn’t take into account that on its recent decline it went from a high of 446 to a low of 89, so at today’s close we are up 170% since late March.
But, the most amazing thing about today’s moves were the fact that at least one company, HTZ, has actually declared bankruptcy and after trading $ .40 just 10 days ago after the filing, it started at $.80 last Thursday and today managed to close $5.53 +2.96 (115%) and is currently trading $6.70 +1.17 in after hours. Yes, I did say it declared bankruptcy, and yes there are those who will speculate on just about anything, but $6.70 is a touch pricey when 99% of bankruptcies end with the equity owners being wiped out!
And, last, I would have thought that this one was the HOMERUN of the DAY this morning when I talked about it pre-open, ENOB, Enochian Biosciences, when the news of their cure for HIV was the topic of discussion. I had it $17.00 +12.88 or 312%, but the best it could do was to open $12.67, hit $13.43 and then start to slide. It finished $6.06 +1.94 (47%) and is a few cents lower in afterhours. With today’s action in hospitality and Oil related names it probably doesn’t make the top 50 stocks with that gain.
FOOD SUPPLY: was HIGHER with TSN +1.65, FLO +.45, CAG +.51, MDLZ +1.08, KHC +1.03, CALM +.37, JJSF +3.49, SAFM +6.57, LANC +2.42, GO -1.33, HRL +.11, SJM +3.73, PPC +1.99 and PBJ $32.14 +.51 (1.61%).
BIOPHARMA was HIGHER with BIIB -5.46, ABBV +.75, REGN +7.04, ISRG -.06, GILD +.32, MYL +1.22, TEVA +.06, VRTX -.68, BHC +1.26, INCY +1.07, ICPT +4.40, LABU +2.65 and IBB $133.20 +1.85 (1.41%).
CANNABIS: was HIGHER with TLRY +1.16, CGC +1.49, CRON +1.45, GWPH +2.98, ACB +2.01, PYX +1.40, NBEV +.33, CURLF +.13, KERN +2.04 and MJ $15.27 +1.23 (8.76%).
DEFENSE was HIGHER with LMT + 3.75, GD +5.53, TXT +1.43, NOC +4.90, BWXT +2.73, TDY +3.44, RTX +2.35 and ITA $193.84 +6.97 (3.73%).
RETAIL was HIGHER with M +2.17 +24.74%) on the news that it raised $4.5billion in financing, JWN +1.34, KSS +3.42, DDS +2.11, WMT -.49, TGT +.84, TJX +.49, RL +.69, UAA +.78, LULU -4.72, TPR +.72, CPRI +2.43 and XRT $45.35 +1.00 (2.25%).
FAANG and Big Cap: were HIGHER with GOOGL +8.48, AMZN +43.00 (1.73%) on news of a new high price target of $3,300, the highest on the street, AAPL +1.30, FB -.03, NFLX -3.60, NVDA -5.70, TSLA +58.84 (6.64%), BABA -.61, BIDU +2.62, CMG -5.71, CAT +2.60, BA +33.99 (16.55%), DIS +2.39, and XLK $101.92 +.51 (.50%).
FINANCIALS were HIGHER with GS +2.39, JPM +2.40, BAC +.52, MS +.63, C +3.13, PNC +2.97, AIG +3.14, TRV +3.14, AXP +3.67, V +.29, and XLF $26.74 +.50 (1.91%).
OIL, $38.19 -1.36. Oil has managed to trade $40.44 today and fell back to the 5-day MA and closed there. We are trading up about .50 tonight and the stocks didn’t even blink at the decline. In fact, people came after every little depressed stock and many have moved several 100% in the past few days. The stocks were higher and XLE was $47.39 +2.55 (5.69%).
METALS, GOLD: $1,705.10 +22.10. After trading down to $1671 last week we had a bounce higher today and although it was an “inside-day” we closed at the highs. The action in the US$ is projecting higher prices for the metals, but it does not necessarily trade with the dollar on a day by day basis. Support is around Friday’s lows. We bought back the 3rd and final lot of NEM yesterday @ $58.86.
BITCOIN: closed $9,780 -20. After breaking down from just over 10,000 and trading as low as 8630 last Tuesday we have been clawing our way back toward 10,000. Last week we traded over $10500 but fell all the way back to the lows, but we’ve moved back toward $10,000. We added 350 shares of GBTC last Wednesday @ $10.02 to our position of 400 @ $8.06, bringing our average price to $8.97. GBTC closed $11.58 + .33 today.
Tomorrow is another day.
CAM
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Coinbase is the largest bitcoin holder among exchanges, followed by Huobi and Binance (current BTC/USD price is $9,551.49)

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Coinbase is the largest bitcoin holder among exchanges, followed by Huobi and Binance
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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A new actively managed bitcoin hedge fund gets launched in Hong Kong (current BTC/USD price is $9,401.90)

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A new actively managed bitcoin hedge fund gets launched in Hong Kong
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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MicroBT and Bitmains latest bitcoin mining machines are most profitable now after halving (current BTC/USD price is $9,774.28)

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MicroBT and Bitmains latest bitcoin mining machines are most profitable now after halving
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Bitcoin Cash (BCH) Understanding Its Vision with Bitcoin ABC and Roadmap Use Cases with Nexo ... (current BTC/USD price is $8,856.05)

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Bitcoin Cash (BCH) Understanding Its Vision with Bitcoin ABC and Roadmap Use Cases with Nexo ...
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
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HyperBlock Provides Update on Bitcoin Halving Impact on Operations (current BTC/USD price is $9,111.60)

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HyperBlock Provides Update on Bitcoin Halving Impact on Operations
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The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
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Bitcoin & NYSE crash live! BTC price targets & chart analysis, Dow Jones, S&P 500 - TA Bitcoin Chart Technical Analysis for 07-17-2020 CRAZY!!!!!!!!!!! THIS BITCOIN CHART SCREAMS: $75'000 ARE ONLY WEEKS AWAY!! [if this happens...] Bitcoin & NYSE open live! BTC price targets & chart analysis, Dow Jones & S&P 500 - TA BREAKING NEWS! BITCOIN 'BUY' SIGNAL FOR 2020!  Chainlink GAINS!Binance Crypto Debit Card Buy ETH?

Live Bitcoin News brings you the latest news on Bitcoin with analysis and price charts. Get views, trends and important updates in cryptocurrencies market. Bitcoin and crypto investors are worried, however, with the Crypto Fear and Greed Index showing "extreme fear," and earlier this week dropping to a 244-day low last seen when bitcoin crashed to Latest news headlines for Bitcoin - USD with market analysis and analyst commentary. Find the latest BTC/USD (BTCUSD=X) currency exchange rate, plus historical data, charts, relevant news and more BTC USD (Bitcoin / US Dollar) This is the most popular Bitcoin pair in the world. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of Bitcoins is carried out collectively by the network.

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Bitcoin & NYSE crash live! BTC price targets & chart analysis, Dow Jones, S&P 500 - TA

Crypto News 2020 - Duration: 14:26. Lark Davis 9,207 views. New; 14:26. WOOW!! AMAZING BITCOIN CHART WHICH NEVER FAILED PREDICTS THE NEXT BULL RUN!!!! [after THIS dump..] ... Future of Finance ... I will cover BTC charts, alt coins and stocks for potential price targets. IMO we will soon start a series of drops leading up to a major bitcoin crash. Its look like an impending US stock market ... FORGET THE BITCOIN CHART - THESE METRICS SHOW EVERYTHING YOU NEED TO KNOW ON BITCOIN!! ... Bloomberg Markets and Finance 636,945 views. 29:20. ... (Investors Must See) Crypto News 2020 - Duration ... Taking a look at the bitcoin hash ribbon chart - digital asset investment firm executive Charles Edwards explained that the Hash Ribbon signal occurs about once a year and according to him, a ... THIS BITCOIN CHART SCREAMS: $75'000 ARE ONLY WEEKS AWAY!! ... Bitcoin 2020, Future of BTC, Tesla stock news, Libra Gemini 53,505 watching. Live now; ... Bloomberg Markets and Finance 552,885 views.

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