Markets are flat and so are most stocks on my screens today. I’ve added a few new longs and one new short in the last couple weeks and for now it’s back to steady-as-she-goes. Investing and trading isn’t always exciting (or fun, for that matter).
Speaking of how investing and trading isn’t always exciting and fun, take a minute right now and make sure you’re going to be okay if and when the markets pull back again. Not that I’m not expecting much of a sell-off in the broader markets right now either. All of which leads us to today’s column and the must-reads of the week for every investor and trader.
This signature shows how we have different market “regimes” – Chart(s) of the day. Absolutely fascinating discussion about how the markets’ patterns have changed over the decades. Trading today is far from what it used to be, as we all know, but these charts show it beautifully.
Why this stock market is like Three-Card Monte – I don’t disagree that we’ve entered some bubblicious territory, as I’d set up for back in 2010 through 2012. Now that we’re here, well, the path of least resistance seems higher for the near-term for now at least. The bulls are not scared and the bears are bulls too now. When, when when will the next correction come? Probably the next time war headlines or financial crisis headlines dominate the headlines. Which is the chicken and which is the egg is up for debate. Bubble blowing bull market continues.
Gundlach: Gold is going to $1,500 and Why GLD Belongs In Your Portfolio – Remember that if you’re going to buy $GLD that it is always a short-to-mid-term trading vehicle only, not a long-term hold. Only physical gold coins and bullion are actually own-able for the long-term in regards to the metals. That said, I do think $GLD/gold looks ready to pop near-term and make a run towards $1500 or so by year end. Not a trade I’m making or a move I’m trying to game though.
Expedia Starts Accepting Bitcoin for Hotel Bookings – Personally, I’m not buying any more bitcoins any time soon. I’ve got some from much lower levels still and I still happily accept them as payment here on TradingWithCody.com or for any of my other services, but I’m not outright buying any bitcoins these days and don’t know when or if I would again, frankly.
Uber Demonstrations Snarl Traffic From London to Berlin and Uber Sign-Ups Increased 850% London – If taxi and car service drivers think Uber is a problem, wait til they see driverless drone cars taking their jobs entirely. I have many great friends who are drivers and drove me around in limos and towncars from my TV days, but you can’t stop progress, safety and efficiency. Uber itself is passe, as I’ll simply email Google to send a Google Driverless car to pick me up.
Pandora Media (P) Stock Rises Despite Amazon Streaming Music Reports – I made good money on a Pandora P short when it spiked to the high $30s. Closed out for big profits on most of it. Not revisiting any time soon though, what with the Beats deal and music “hot” right now, I don’t like the near-term risk/reward on the $P downside for now.