Morning Market UpdateGood morning Team! Futures are slightly lower this morning and most stocks I see are either down or flat.
$FUTU had a great breakout yesterday on Volume and right after the close (while I was recording my video) announced a share offering and the stock is gapping down today. This is not ideal, but also nothing any of us could have predicted. What I do in a situation like this is remove any hard stop I have and wait 30 minutes to see how it trades. You could sell some right at the open to reduce risk and then see if it can hold above the low from yesterday. A close below the low from yesterday would be an automattic sell and then I’d want to be out completely and wait for the stock to reset. Again, not an ideal situation. I never understood why a company would do this after a big move like yesterday, it sure doesn’t give me the warm an fuzzies about said company.
$AAPL has their “Spring Loaded Event” today and it just happens to be 4/20, so one would imagine they are announcing their new iBong…which is a Cannabis Smoking Device that plays rasta music and allows you to buy and sell Bitcoin. Kidding! Any Apple Event can cause movement in either direction on the stock, if I remember correctly, that last one was a sell the news day. The stock has been in trend along with a lot of other leaders like $GOOGL, $AMZN, $NFLX, $NVDA, $V and $MA as traders and investors get out of some of the Reflationary Trades and back into Quality.
Speaking of Bitcoin, $PYPL is letting customers Buy, Hold and Sell Crypto with their Venmo app, which brings potentially 77M new people to the Crypto Market. Bitcoin is up on the day but still off the highs. We still get a lot of basic “Where do I buy?” questions about Crypto in the forum, don’t forget to check out this video that Brett did about a few exchanges that he knows and uses. https://youtu.be/FDlGwL7_urY He also did a deep dive on Voyager and you can see it here: https://youtu.be/QG5SJs47Qik Please note we do not endorse any Crypto Exchange officially and by signing up and trading Crypto you are doing it at your own risk. It’s a very volatile market and as I mentioned last night in my video, trading in a volatile market, while on leverage can really get you Rekt in a hurry.
A big thanks for all the kind words and feedback while Dan was away, I’m excited he’s back and refreshed, it’s important to always recharge the batteries.
Let’s have a great day!