Original Link | RockwellTrading by Markus Heitkoetter It was a battle between tech stocks and bank stocks today…and banks won. Tech got obliterated while banks soared! Some tech favs experienced serious selling today. Including.. Facebook (FB) down 3.9% Amazon (AMZN) -2.7% Netflix (NFLX) -5.5% Nvidia (NVDA) -6.8% Alphabet (GOOGL) -2.4% The sell-off comes on GOP tax reform concerns, and how the … Read more
Bitcoin surpassed $10,000 for the first time, bringing this year’s price surge to more than 10-fold even as warnings multiply that the largest digital currency is an asset bubble. The euphoria is bringing to the mainstream what was once considered the providence of computer developers, futurists and libertarians seeking to create an alternative to central … Read more
Following a projected $6.59 billion in Cyber Monday sales, Amazon’s stock has risen nearly 5 percent over the past week heading into the holiday season. That sharp increase in value could explain why its founder and chief executive officer, Jeff Bezos, is now estimated to be the richest man in the world with a net … Read more
Original Link | RockwellTrading by Markus Heitkoetter This morning stocks opened higher on tax reform hopes and strong retail sales. A vote on tax reform could come as soon as tomorrow. And numbers from Cyber Monday revealed that yesterday was the biggest shopping day in U.S. history with $6.59 billion in sales. But the major indices really … Read more
Original Link | RockwellTrading by Markus Heitkoetter Traders were optimistic this morning after strong holiday sales. U.S. retailers pulled in $7.9 billion in online sales on Thanksgiving and Black Friday. But in spite of the better than expected retail numbers, trading was choppy this morning. The S&P hit a new record high thirty minutes after the open before … Read more
Back in 2013, James Howells made headlines when the story of his missing hard drive came to light. Howells was an early Bitcoiner who mined 7,500 Bitcoins back in 2009 with his laptop – when the cryptocurrency was still easily mineable, and barely worth anything. According to The Guardian, he mined them on a Dell … Read more
Some people call them cryptocurrencies. Others call them altcoins or alts. But to many they’re known as shitcoins: digital currencies that are like bitcoin but, well, crappier. Sure, they may boast faster transactions and lower fees, but they lack the brand recognition, network effects and catchy name. Without, they were destined to be doomed. What’s … Read more
The Bitcoin bubble continues to stretch to even more grotesque proportions, clearing a value of at least $9,143 per bitcoin and attaining a market cap of $152 billion on Sunday, TechCrunch reported. The strong gains more or less put Bitcoin on a path to clear a value of $10,000 by the end of calendar year … Read more
Original Link | RockwellTrading by Markus Heitkoetter Trading was quiet last week, which was expected because of Thanksgiving. But stocks were up nicely considering it was a short week. Both the S&P and DOW added 0.9%. Meanwhile, the NASDAQsoared. Up 1.6%, the NASDAQ led the way. But in spite of last week’s rally, volatility remains extremely low. The DOW has gone 67 straight … Read more
Original Link | KitcoNews by JAMES RICKARDS [Ed. Note: Jim Rickards’ latest New York Times bestseller, The Road to Ruin: The Global Elites’ Secret Plan for the Next Financial Crisis, is out now. Learn how to get your free copy – HERE. This vital book transcends rhetoric from the Fed and any threat of a bitcoin bubble … Read more