The Get Irked Week in ReviewEpisode 13 – November 12-16, 2018
In The Markets:• With no news from China and only mildly-reassuring comments from the Federal Reserve Bank in the U.S., the markets saw a pretty rough week with the S&P dipping down to touch the 72-week Exponential Moving Average (EMA) on the dot before bouncing back up, still closing down from last week. • Bitcoin exploded and dropped below $6,000 a coin for the first time since 2017 thanks to two bitter-bodies fighting over Bitcoin Cash. When two little warring whiney brats can take out tens of billions in market cap, it’s hard to see how crypto’s ever going to be able to demonstrate it’s serious enough for the SEC to approve an ETF, especially after scaring away the general public by skyrocketing to $20,000 at the end of 2017 only to crash and burn. The party may be over for a couple years after this one, kids. • Nvidia explodes. Partially thanks to the decreasing popularity of cryptocurrency and partially due to releasing new graphics chips with features that have no games to take advantage of them, Nvidia reported a devastating Q3 earnings reporting destroying nearly 20% of its already-decimated share price in a single after-hours trading session dropping from an all-time high of $293+ to under $170 in a matter of weeks. Yowza! • They may have been down, but don’t count the cannabis stocks out. The marijuana companies stopped smoking up long enough to report tasty earnings before lighting up to go higher. A lot of the volatility’s been burned out of the space so maybe things have chilled out for awhile for our green buds?
Getting Started – Tools & Resources:• Almost immediately after using Pacific Gas & Electric Co. (PCG) as an example of what company-specific bad news looks like (PCG recently disclosed they MIGHT have started the Camp Fire in California). The next day, Nvidia (NVDA) decides PCG can’t have all the fun when it comes to bad news events. • The Bitcoin Cash fork brought more education into how cryptocurrencies work from Get Irked, however after the price of Bitcoin took the plunge, no one will likely care how crypto works for quite a long time (if ever).
Trades in Play:• Yet another busy week, particularly after discussing our Protecting Profits strategy in last week’s Trades in Play. Stay tuned to our closed Facebook group later this weekend for the full details of the ups and downs of our Trades in Play from the past week.
Disclaimer: Eric "Irk" Jacobson and all other Get Irked contributors are not investment or financial advisers. All strategies, trading ideas, and other information presented comes from non-professional, amateur investors and traders sharing techniques and ideas for general information purposes.
As always, all individuals should consult their financial advisers to determine if an investing idea is right for them. All investing comes with levels of risk with some ideas and strategies carrying more risk than others.
As an individual investor, you are accountable for assessing all risk to determine if the strategy or idea fits with your investment style. All information on Get Irked is presented for educational and informational purposes only.