Wall Streets Wild Week

Hello traders everywhere. The stock market is finishing up the week mixed, much like the entirety of the week was. We saw wild swings in both the stock market and Bitcoin. And it might not be over yet with a couple of things looming.

There's potential for a government shutdown. On Thursday, the House passed a bill to avoid a government shutdown, but the bill is now in the Senate's hands, where 60 votes are needed to send it to President Donald Trump's desk. Most experts believe that there is a 50/50 percent chance that we will see a shutdown. Historically, a government shutdown has led to a short-term pullback in the stock market.

MarketClub's Mid-day Market Report

Consumer sentiment unexpectedly declined in January to a six-month low as American households viewed the economy less favorably, as reported by the University of Michigan report that was released Friday.

The decline in sentiment included a decrease in a measure of buying conditions for big-ticket goods, indicating consumer spending may slow early this year after a solid holiday shopping season.

The setback in purchasing conditions was mainly due to less attractive pricing, according to the University of Michigan. That was reflected in a pickup in increases in expected inflation rates over the coming year and longer term.

At the same time, the expectations index remained stable, with 70% of respondents saying they thought the impact of the tax reform act would be positive. What's more, the survey showed lingering strength in personal finances. Improved finances were reported by half of all respondents, matching the 2017 average which was the best in 17 years.

Key levels to watch next week: Continue reading "Wall Streets Wild Week"

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"

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"

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"

How Bitcoin Finished An Astonishing Year

Matt Thalman - INO.com Contributor - ETFs


If you look at a chart of Bitcoin during 2017, it really only went higher during the first 11 months. The in the middle of November it was as if the cryptocurrency was strapped to a rocket ship as the price shot higher until mid-December.

While early investors made a killing on Bitcoin in 2017, the real excitement all happened in December. Bitcoin started 2017 at $996, began the month of December at $10,500, then peaked on December 17, 2017, at $19,206, but ended the year at just over $14,000. When Bitcoin hit its peak, it was up nearly 100% for just the month of December, but even after falling $5,000 in only 14 days, it still ended the month up more than 30%.

Bitcoin 2017 (BITCOIN:BITSTAMPUSD)

While Bitcoin may have only risen 30% in December, it increased more than 1,350% in 2017, with nearly 400% of that gain coming in December and 800% of its coming after November 1st. So what happened in the last two months of the year that caused the price of Bitcoin to rocket higher, in such as short period? Continue reading "How Bitcoin Finished An Astonishing Year"