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New names coming next week and what I expect for bitcoin and cryptocurrencies from here

January 19, 2018 by Cody Willard

I’ve spent much of the week making calls to finish up my homework on a few new names I’ve been researching as new Revolution Investing opportunities for the portfolio. Jake and I are putting the finishing touches on the analysis and write-ups for two names I want to add to the portfolio early next week. I would have liked a nice 5-10% pullback in the broader markets and some panicky trading action to help me get started buying at lower prices, but it hasn’t happened yet and I want to get a toe hold started.

I think we still might see a 5-10% pullback soon, and if it happens, I’ll likely use the opportunity to scale into more of a handful of our stocks, including the two new names I’ll start buying next week.

As for the cryptocurrency, bitcoin, blockchain market — the traders and bandwagon-jumping speculators from the last few months are in pain right now. For months, they were rewarded by buying every dip and every tick down. Even those who made a bunch of money on the way up are now sitting on losses from having been buying on the most recent leg down during what has now become a crash. Couple that with the fact that most all of the recent hundreds of Initial Coin Offerings for new cryptocurrencies are scams and if you’ve bought them, well, good luck finding a buyer for them at the prices they’re supposedly trading at — there are some serious headwinds against the cryptos near-term. I wouldn’t be surprised if bitcoin trades in a range from $5000-13,000 over the next few weeks.

I hate to say I told you there was no such thing as easy money trading cryptos during a frenzy…

Anyway, be cool, don’t be chasing easy money or fast money and don’t think there’s ever anywhere truly “safe” for you hard-earned money.

Stay tuned for a nibble on a couple new names next week.

 

 

 

 

 

 

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Cody Kiss & Tell (and Cody Underground, The Podcast): Stocks to buy right now, Apple update, GOOG vs...
Hands-on with the Apple Watch and why it matters to you
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Filed Under: Free Trading and Investing Articles by Cody

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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