1 min read - Smoking-Highlight of last Week (7/26~7/30)

Discussion in 'Stock Market Today' started by Alex Moon, Aug 2, 2021.

  1. Alex Moon

    Alex Moon New Member

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    Still too high to follow anything on the market? Busy sleeping still?

    We already sorted it out for ya. Here’s what you need. You're welcome.

    “Don’t kill my high because you’re low.” — Unknown stoner on stoner quote.

    Bitcoin

    - On 7/26, AMZN officially denied the rumor of Amazon planning on taking Bitcoin as payment. Sending Bitcoin back to its place. What a great example of buy on rumor sell on news.

    Major Index

    - Major indexes didn’t change much last week. However, all three closed higher than the previous month, for six months in a row. Things are looking really good. Almost too good.

    Other Index - IWM

    - Small-caps are still struggling, as Russell 2000(IWM), a tracker of small-caps performance, closed 3.77 lower for the month. The weak are weaker.

    Q2 Real GDP

    - Q2 Real GDP grew at 6.5%, lower than the expected 8.4 forecast. Mostly due to insufficient inventories, housing.

    Q3 Financial Report

    - The five largest companies: AAPL, AMZN, MSFT, Alphabet (GOOGL, GOOG) and FB all revealed their earnings, all of them exceeded expectations. Harder, better, faster, stronger.

    FED

    - Fed Decides to Keep Interest Rates at 0.25% and claims inflation is only temporary due to supply shortages. What do you guys think? Is it temporary? Or something else is going on? Give me your best conspiracy theories.

    Chinese Stocks

    - Chinese stocks are still being bullied by the Chinese government as they continue with further restrictions and delisting threats on stocks such as DIDI, BABA, JD, FUTU, etc. Stop loss execution is A MUST if you’re trying to invest in Chinese stocks.

    Nikola Motors

    - Founder and former CEO of Nikola Motors, Trevor Milton was charged with multiple fraud regarding “nearly all aspects of the business” NKLA stock went down 15.22 after the news.

    Uber

    - 45 million shares of Uber were sold by Softbank in order to cover their lost on DIDI. Uber is down 8.43% for the week. Poor Uber. Anyone else still holding DIDI?

    Robinhood

    - Robinhood (HOOD) went IPO on 7/29. Yep, still not touching it. Not even when I’m high.

    I’ll keep my eye on the volume this week. I kinda expect a nice growing trend on all indexes due to the upcoming reports, which I think will do well. However, if the market went too crazy and too optimistic, then I’ll play a little bit safer.
     

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  2. StockJock-e

    StockJock-e Brew Master
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    This keeps on coming up every month.

    It served is purpose this last cycle and getting BTC off the lows.
     
    Lucca Zamora likes this.

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