ONE-TWENTY TWO: Trading Financial Markets
Since the year 2000, delivering a different narrative for students and fans of financial markets: stocks, options, currencies, Bitcoin, and more…
NVIDIA Races Ahead Money manager Cathie Wood of ARK Invest is known for being unconventional by making concentrated bets on highly speculative companies, what Wood calls betting on innovation that solves problems. So of course Wood has AI-related bets in the various ARK funds. The ARK Autonomous Technology & Robotics ETF (ARKQ) in particular holds … Read more
Stock Market Commentary: The latest cryptocurrency scandal and implosion distracted the market (and me) from the upside potential of the October CPI (Consumer Price Index) report. Likely contagion, real and psychological, from crashing crypto prices helped drive distraught trading that created technical breakdowns across the major indices. U.S. midterm elections on Tuesday also apparently failed … Read more
Stock Market Commentary: A month ago, a CPI Shocker brought a bear market rally to an abrupt end and created an historically bad September. Today’s CPI Shocker, another inflation reading that came in hotter than expected (imagine that), generated a completely different, and bullish, response. The stock market gapped down at the open and buyers … Read more
Over a month ago, I uncovered a sunny thesis about a bottom for the ARK funds. The timing of that post happened to be the exact top of the cycle for the ARK funds. Moreover, the S&P 500 (SPY) was trading just under its 200-day moving average (DMA) (the blue in the chart below). Once … Read more
The conditions for bottoming in the ARK funds started to diverge a bit in late June. While the bottoming patterns differed, the ARK bottom synchronized with the general market’s bottom. Those conditions were born from the deeply oversold conditions that arrived in June. At that time, I interpreted the turmoil as the early days of … Read more
Stock Market Commentary: Market breadth was last this high 17 months ago. At that time, my favorite technical indicator was on its way down as a part of another buy-the-dip moment for the pandemic-inspired rally in the stock market. This time, market breadth is sitting right on top of the threshold of overbought conditions. The … Read more
After presenting my conditions for bottoming across the collection of ARK funds, the funds suffered a serious setback in the bottoming process. Some funds hit new lows and others cracked critical support levels. The stock market’s rebound from oversold conditions helped turn the tide and sentiment on the ARK funds. Interestingly, performance relative to key … Read more
A month ago I laid out the case and conditions for bottoming across the collection of ARK funds. The key pivot rested with the ARK Fintech Innovation ETF (ARKF). It still is the first and only of the pre-pandemic ARK funds to break its pandemic era closing low. Over the past month, ARKF struggled mightily … Read more
When Cathie Wood anticipated a “doozie of a correction” in early 2021, she surely did not expect a complete collapse in the mania and bubble she had enjoyed during the first year of the pandemic. However, the cash machine betting on the downtrend in the ARK Funds may finally stop operations soon. Last week, one … Read more
TLDR: Coinbase Global, Inc (COIN) did not directly answer the question about a new disclosure: can a bankruptcy filing by Coinbase result in the loss of a customer’s assets? The Rolling Disaster I am one unhappy Coinbase (COIN) shareholder. After alternating between buying and shorting COIN at much higher levels, I finally settled on buying … Read more