Market notes (and don’t forget this week’s Live Q&A Chat)
Don’t forget this week’s Live Q&A Chat today at 2pm EST at http://tradingwithcody.com/chat.
Markets having a hard time staying in the green this morning, and $COMP just cracked red. July pullback ahead? I’ve been saying that the path of least resistance for the broader markets has been upward, but this week’s action makes me think we might be turning temporarily. Will the $DJIA EVER pullback 5% again? (YES, at some point!)
Fireworks and more wild volatility ahead for $GPRO as the 18 million shares available on the market just ain’t enough to satisfy either the longs or the shorts. I would rather be short this thing at $45 than long it at $45, but I’m not going to go out and play this stock either way until this dust up settles. “Betting on big drop, short sellers borrow all the GoPro stock they can”http://t.co/pCFWPe20
$YELP‘s ascent from its recent crash continues. I’d look at taking a lil bit of profits on it if you got in back in the $50s when I was buying it. Still think it can go higher over time though.
Bitcoin $BTC continues its march to critical mass. “Draper, the co-founder of investment firm Draper Fisher Jurvetson, will work with startup Vaurum to help provide access to bitcoins in developing economies and use the about 30,000 bitcoins won in the auction as a source of liquidity, according to a statement that Vaurum posted on publishing service Medium today.” http://mobile.bloomberg.com/ne…
Interest rates are acting spikey. It’s not the interest rate itself that’s interesting here (so to speak), but the velocity with which the Treasuries and rates are moving lately. Something to keep an eye on, not something to freak out about.
