Forget tax cuts its all about Bitcoin now!!!
If you thought the stock market was the bull market all you need do is take a look at the bitcoin charts:)
Amazing to say the least. And what is also amazing if you take 100 “experts” there opinions on Bitcoin will range from a. Better than gold to 2. worth nothing and will soon go to 0
So if your thinking about hoping onto the bitcoin investment bandwagon I would think twice. There are no easy riches in the stock market or life. You have to methodically plan a strategy and then hope for the best!
Saying that my investment in bitcoin is a whopping 500.00. On a tip. I bought this particular bitcoin for .10c and plan on holding it until it reachs at least 100.00 . That would be 1000 % return. Surely obtainable 🙂
Meanwhile back to reality the Senate surprised everyone including me with the Tax bill coming out of commitee with unanimous Republican approval. I am still a skeptic as it only takes 3 republican votes to tank the bill. I count Flake and McCain as 2 no votes. Surely 1 more republican will come forward and tank the bill for the good of the party:)
We will see. Should make for an interesting week to say the least. We saw how the market reacted to the approval in committee. It will react with at least that much to the downside if the tax bill goes down in the Senate. My guess is at least a -1000 day for the dow if that happens.
Meanwhile GLD took a hit yesterday but no exit signal. And biotech just keeps meandering. When it turns I expect the one biotech I am holding now to skyrocket. The big question is when.
My day trade yesterday morning went nowhere and with my stop routine we had a small loss.
I will be around this morning again for another trade if they set up. Although after yesterday I doubt the conditions will be very good for a trade. Check it out at @rickjswings.
Premarket all is green except for QQQ which is slightly lower. Financials are very strong and oils and metals weak. A netural to lower bias to me.
My trading site of the day (a new feature) is
Rolf at Tradeciety is a real find among the 1000s that post on the internet. His lessons are the best on trading.
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.
It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
RickJ’s Handicapping Picks