January 9, 2018
Mish's Daily
By Mish Schneider
First, a follow up on yesterday’s action in Weight Watchers (WTW) and Tesla (TSLA.)
Oprah fever continued today with WTW roaring another 10% higher, finally settling up just below 9%. Extraordinary.
Tesla, after the story about the SpaceX satellite getting lost in space emerged, impressively held gains from Monday, but did not make a huge-or in this case-soft-splash.
Therefore, if you are tracking or trading these stocks-Tesla is the better risk/reward. WTW is too far up too fast.
Today’s Daily title comes from Barry White’s song “Can’t Get Enough of Your Love, Babe.”
I find myself singing that song a lot lately.
And why not? The Dow, finding no fear at 25,000, now trades at 25,400.
Now that’s only 400 feet, so to speak, above the Terror zone.
Like Mr. White says, “We've shared love and made love.
It doesn't seem to me like it's enough..”
Yet, not everyone is feeling the love.
Stronger interest rates and firmness in the dollar has some instruments singing, “I don't know, I don't know, I don't know why.”
Since the year is just beginning, I have been pouring over charts.
Mainly, I am watching the trends I expect to play some catch up.
3D Printing for example, has been on my top 10 Megatrends list for 3 years.
Give up on it? Heck no-I am starting to believe it’s one of the best opportunities for this year.
I’m also watching stocks versus commodities.
With the historically low ratio, whether the market corrects hard or not, the relationship between equities and commodities will, at some point change.
Another Megatrend on my list the last 3 years, and now on everyone’s radar-alternative currency.
Eastman Kodak (KODK) announced a cryptocurrency called KODAKCoin for photographers.
I read the story-a new platform using blockchain technology. However, I am not sure what exactly it means for Kodak.
What I do know, is that simply attaching blockchain technology to your name-think RIOT-a former biotech firm now focusing on Bitcoins, brings instant gratification.
RIOT’s prices have tripled. Kodak’s price mind-numbingly rose 118%.
What makes the indices special, is that they have yet to pimp out the blockchain name to incite even more of a rally.
I am waiting for brick and mortar retail to figure out that for instance, Under Armour (UA), which fell on a downgrade today, needs to change its name.
Under Blockchain Armour. Blockchain Down Under Armour?
Or better still, 3D Printing goes Blockchain. Wouldn’t that be special?
One consideration in all of this-the U.S. Dollar. Should Blockchain legitimize more to the mainstream, I imagine it will put pressure on the dollar.
Blockchain, Retail, or The Dow. In the words of Barry, “Just like the more you give, the more I want, And baby, that's no lie.”
S&P 500 (SPY) Interesting inverted doji candle. Only interesting if it’s the top though
Russell 2000 (IWM) Took out the old high and closed slightly down on the day. Noteworthy? Maybe-remember 2015.
Dow (DIA) Melt-up continues
Nasdaq (QQQ) Closed unchanged. Seems more of a rest than anything else.
XLU (Utilities)
XLV (Healthcare) Got love today
Every day you'll be prepared to trade with: