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

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.