Notes On Stocks, Nvidia, Treasuries and Crypto

“We like to hop. We like to hop on top of Pop.”

Up and down and all around, we go! Big bounce off the lows from Tuesday when I’d sent out the Trade Alert about buying some FB, ROKU, UBER, AMZN, GOOG, all of which have bounced 10% or so since then, as ha most of the market. Are THE lows in? It’s possible, if not quite likely. I plan to get a bit more aggressive if the markets do find another excuse to do another panicky sell-off towards and/or past those lows from earlier this week. I’d mentioned in that post that:

“We are now probably to the point where if a company comes out and says something is actually going better than expected (ZM doesn’t count, it was just fine but not a “things are better than we thought!” kind of quarter) the stock could probably pop 20%. For the last month, it didn’t matter if a company reported great stuff, as the market just tanked everything. Things have gotten so ugly and so panicky since then that there’s going to be some individual stocks that make some huge sudden moves higher in coming days and weeks.”

Indeed, Nvidia actually took that idea a step further when it reported a “fine” quarter and was able to up 7% today.

Also, as I’d noted recently, following the new trend, rates are up while stocks are up. Treasuries have become a powerful risk-off place to hide. I remain long a little bit of TLT here.

Ether took a bit dive earlier and I covered a little bit of my ETH futures short in the hedge fund. Bitcoin’s the safest but crypto in general is probably still on crack-watch — meaning that we should keep watching for more silly, fraudulent and stupid cryptos to keep cracking towards zero as Luna Terra nonsense did.

Here’s my best advice — step away from the screens, don’t watch the minute to minute ticks and try to guess if the markets are bottoming, spiking or otherwise doing something else. Just keep focused on being cautious while putting some money to work on the panicky sell-offs.

We will do this week’s Live Q&A chat at 10am ET tomorrow (Friday) in the TWC Chat Room or just email us your question to support@tradingwithcody.com.