Bitcoin Falls On Global Regulatory Concerns

Hello traders everywhere. The January Bitcoin (CME:BRTI) selloff gained momentum on Tuesday when the cryptocurrency dropped as much as 13% in early trading as the prospect of global regulatory crackdowns appeared to spread.

A South Korean news website Yonhap reported that Finance Minister Kim Dong-yeon had told a local radio station that the government would be coming up with a set of measures to clamp down on the "irrational" cryptocurrency investment craze.

South Korea said on Monday that its plans to ban virtual coin exchanges had not yet been finalized, as government agencies were still in talks to decide how to regulate the market.

MarketClub's Mid-day Market Report

That news broke just as a report surfaced that a senior Chinese central banker had said authorities should ban centralized trading of virtual currencies and prohibit individuals and businesses from providing related services.

China shut down exchanges operating on the mainland last year - a move that also sparked a selloff.

The January selloff has seen Bitcoin (CME:BRTI) fall 42% from it's December 2017 high of 19,528.87.

Key levels to watch next week: Continue reading "Bitcoin Falls On Global Regulatory Concerns"

Weekly Futures Recap With Mike Seery

We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.

Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.

Gold Futures

Gold futures in the February contract settled last Friday in New York at 1,322 an ounce while currently trading at 1,333 up about $11 for the trading week right near a four-month high. I'm currently not involved in any of the precious metals as they have rebounded sharply over the last month. The U.S. dollar has now hit a four-month low in today's trade continuing its bearish trend which has supported gold and the precious metals recently, but the chart structure is poor coupled with the fact that we are in overbought territory. I will be patient & wait for a better chart pattern to develop before entering into a trade. Gold prices are trading above their 20 and 100-day moving average as the trend is higher as we now look to retest the September 8th high around 1,365 in my opinion. This market has rallied substantially from the recent low, that was hit on December 12th at 1,238 as we have now rallied nearly $100 in a blink of an eye despite the fact that U.S. stock market hits all-time highs every day, but this rally is based on a weak U.S. Dollar. Gold is also riding the coattails of the energy market which is right at a three-year high in crude oil as both of these are considered inflationary commodities as the U.S. economy and worldwide economies are improving significantly as that should bolster commodity prices across the board in 2018.
TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY:INCREASING

Continue reading "Weekly Futures Recap With Mike Seery"

Wall Street Surges On Earnings Expectations

Hello traders everywhere. The stock market is posting new intra-day record highs again as traders turn their sights to a wave of corporate earnings. Most experts believe that earnings season will be exceptionally strong on the heels of the new U.S. Tax Code.

An early indication of this can be seen by the stronger than expected earnings from J.P. Morgan today. The most prominent U.S. lender by assets said the new tax law would help future profits by not only reducing the amount it pays the federal government but also by stimulating more business.

Shares of JP Morgan (JPM) rose 1.1%, helping lift the S&P financial index up 0.6%, after its fourth-quarter profit beat estimates.

Wells Fargo (WFC) on the other hand fell 0.8% after it set aside $3.25 billion in the fourth quarter to cover legal expenses related to probes into its mortgage and sales practices.

MarketClub's Mid-day Market Report

Key levels to watch next week: Continue reading "Wall Street Surges On Earnings Expectations"

North American Cannabis Index Jumps 86% in 2017

Analysis originally distributed on January 3, 2018 By: Michael Vodicka of Cannabis Stock Trades

2017 turned out to be a great year for cannabis stocks - particularly if you knew which stocks to buy.

The North American Cannabis Index was up 86% in 2017.

North American Marijuana Index

Canadian stocks were on fire - the Canadian Cannabis Index was up 160% in 2017.

Canadian Marijuana Index

Most improved award goes to US cannabis stocks - they were steadily falling for most of the year - down 40% on the year in late October.

Then in early November, a major rally kicked in and US cannabis stocks rallied hard - with the US cannabis index jumping more than 100% from the 52-week low. Continue reading "North American Cannabis Index Jumps 86% in 2017"

It's Time To Buy Alibaba

Hello traders everywhere. Alibaba Group Holding Limited (NYSE:BABA) issued a NEW green monthly Trade Triangle on Tuesday (1/9/18) which means it could be time to go long the stock. Now, if you missed the alert or didn't see the Trade Triangle yesterday, the price action today has given you the perfect opportunity to enter the trade at a lower/better level on a bit of a pullback.

Alibaba Group Holding Limited (NYSE:BABA)

I believe that Alibaba is one of the more attractive stocks of 2018 based on the fact that it is the Amazon of the East, except it is growing faster and trading cheaper than Amazon. I look for Alibaba to produce another great year on the back of a truly impressive 2017 where we saw it produce an impressive 78% gain.

Key levels to watch this week: Continue reading "It's Time To Buy Alibaba"