Stock Talk
Moving back to stock talk.
IBIT and Crypto : We've seen a correction in Crypto, watching to see if the leg down was a temporary blip on profit taking. The main two crypto's we watch are bitcoin (BTC) and Ethereum (ETH). The recent new ETF's that are based on spot etf are also seeing a quick correction today.
Before proceeding to some predictions seen on the net. The upper limit pundits projected for the BTC correction was in the $62 K range with the lower limit possibly to $55K. With a challenge being met at $62 range , makes one ponder if the selling by the whales is overdone before more powerful buy side influences take hold. If. the correction continued the bottom predicted was the $55 K level. As example , that would correspond to about an IBIT at the $31 range. It is hard to say, but it seems like BTC could be headed higher and the correction may be played out
On a final note about BTC and ETH, these can be volatile. There
is a strong segment of believers in "DeFi" that practice "HODL"
meaning "hold on for dear life." This is because they believe that
ultimately both BTC and ETH could be headed much higher. Looking at the
way the world is headed, it seems possible. We use the words "just
some" on any particular notion in the markets. That same strategy applies to "some" BTC and ETH from an exchange such as on Coinbase or Paypal.
Gold: Yes, Gold is near an all time high
so maybe not too much, but a just a few shares of an etf such as GLD
may be a way to hedge the new world we are being handed. Maybe about 5
shares of GLD may be right to start a position in gold. Why just 5
shares? It's just an example to say a portion. Like say, for example,
you are feeling bullish on Gold and you were thinking of buying 20
shares of GLD. If that is an initial position, it may be better to hold
back and buy 5 shares and wait to see. How many times do we like a
stock and buy, only to watch profit taking? Still, starting a long term
position in some Gold may stem off inflation. A $7 Trillion budget is
in the hopper?
Raytheon (RTX):
RTX is gaining traction in stock price with more analysts raising
predictions of over $100 share price to $130 range. see past posts on
RTX. There are many divisions of Raytheon and it is recognized no one
"notion" tells the whole story. BUT, the overall picture of RTX being a
key component of American strength makes it attractive as a "some
stock". RTX is now in the 90's suggested here in the 80's makes it just
a some stock because to buy just ten shares will now cost $942 as of
this post. Once a stock gets over "par", the $100 mark, it sometimes
has a way of gaining momentum. We call that "momo" on good "juju".
Time will say if Raytheon hits and passes "par". The trajectory is
looking strong.
Intel (INTC): Nvidia takes the air out of the room with AI chips. BUT overlooked Intel is quietly building a foundry to advance the semiconductors needed in the future here in America. Are you reading this post on a PC? PCs and CPU's that Intel powers are not going away especially as more people work remotely.
https://finance.yahoo.com/news/intel-chip-foundry-ai-age-052452646.html
Today, we see reports of Intel receiving an $8.5 Billion!! grant from the Chips Act.
Devon Energy (DVN) on the move higher. big $ is reported to be buying.
Spec stock : MARA . Most prominent Bitcoin miner embedded into the crypto infrastructure. MARA sank to the $19 range and could gain upward momo but its so volatile and dangerous to hold too much. maybe a small "some" with "pin money" but note it has been a hurtful stock to many on the downswings. MARA is more of a gamble stock with heavy traders playing jokes. That said, it may be near bottom? That's a question, not an answer. Only the future will answer.
Dry Powder:
The new world we are moving into means that volatility will likely
remain. Keep some powder dry. Nobody rings a bell and this site does
not make buy or sell recommendations
For now, we close by noting that any view on the market and stocks on any particular day may change in the future days to come. That is why we watch and see how our views match up with the reality of the time. But trying to look ahead a few months into the future may be a way to do things. If you think too deep about world events and the recent alliances forming, projecting ahead can be a dicey endeavor. With all the above caveats and attempted prognostications, I will close this post.
Stay tuned for more opining on the market and stocks to watch.
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