The following video provides technical analysis of the major stock indices, cannabis stocks, Bitcoin & related stocks, VXX, TSLA, and more.
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Stock Market & Bitcoin Analysis 2-10-21
Home » Blog » Market Analysis (all categories) » Equity Market Analysis » Stock Market & Bitcoin Analysis 2-10-21
it is interesting that youtube just recommended a video about 1929 crash, and the market atmosphere now feel quite similar to back then. we probably won’t fall like then, but it seem like many just simple believe FED won’t let it happen and be euphotic. it doesn’t feel funny.
Perhaps on the anniversary – 2029
Hi Randy, Thanks for the update.
I love this site, I love Randy. I try not to be critical. But man, these videos always paint the upside potential as minimal, but stocks are up like 300-1500%. I must literally be in the 0.10% that did not partake much in this market, always expecting the next down turn. My god, I cant take much more. LOL
My view on the broad market is that the R/R (risk-to-reward ratio) is & has been unfavorable for quite some time now, despite the resilient uptrend. That view is based on both fundamentals & technicals. Essentially, it means that I believe there is more downside risk than upside potential. Another way to phrase it is that the next 30%+ in the broad market is more likely to be to the downside than the upside. The S&P 500 is trading about 20% above where it was in early June of last year so while an impressive rally for sure, keep in… Read more »
Agreed. Mostly terrible R/R on the indices unless you’re only doing short-term scalps.
Man, I could be retired by now if I hit these. I will start paying closer attention.
RKDA literally took off today. Set the alarms on charts to track the action.
Been trading Ag Inputs almost solely for last couple months. Thanks @ROTC most success I have ever had. I was the one who sold CGA about 10 seconds before it went on a huge ride. The volume keeps going up on these. What do you guys think it means that RKDA had 19 million shares traded today. I have never seen any of these ag inputs ever come any where near that kind of volume?
Can just keep going. Nobody really knows. My max target was $6. (Closed my position today)
$6 was a nice target, I thought $4.75 was the more likely number and got out of part of my trade there. I really like $10 target. Going to let the rest ride a little longer tomorrow, I will keep a tight stop on it. But I wonder who is left to buy after 19 million trades today?
There are always people who missed the move and willing to buy at the top, the last spike higher is not completely out of cards. There is also 36% short interest.
becky, you think that it will bounce back from the 4.40 level?
I don’t know. I don’t see much in the charts. There is a gap support around 4.12 (based on hourly chart), which it kissed today around 12pm but I have no idea what it’s gonna do next.
My new theory on RKDA. I think a lot of people consider it a Cannabis stock (Maybe because of their hemp product). That explains the huge volume, the huge move up Wed, huge down Thur. Or, like Becky said the large short interest.
Just realized this was an epic mic drop by @rsotc. Well done.
@rsOtc agree 101% that this market is crazy and risk of downside is far more than potential upside. However, we have to trade the market that we have – so perhaps you may want to consider a change in trades you are looking for and consider short term swing trades or scalps. The Market is already up 20%-ish since November and all we have had here is limited upside and risk of reversal is big videos! For all we know, it can certainly go up some more with more stimulus from DC for next few months and we could all… Read more »
thanks Randy … unfortunately being in Japan working through an old fashioned broker that feels like I am back in the 1990s I could only trade a few of these stocks – basically I was only able to trade RIG and IPI from this … and I am also frustrated by only having the most basic of ag commodity etfs available to me … but I have done my best to take what I have learned from you and apply it where I can … I have been able to find set ups in the Japan market, even in oversold… Read more »
Your not the only one @TJS!
Hey Randy, maybe you can give us stock trade ideas as a link to a snapshot of a chart with your levels to watch after talking about it in a video. It would make it easier to access because they are clearly golden.
Cannabis stocks will get smoked during this next correction,,,see what I did there.
They could name a leveraged etf of the cannabis stocks – SMOKE and HIGH.
I tried to do my civilian job here and alerted of pot stocks here: https://rightsideofthechart.com/stock-market-ag-commodities-analysis-9-24-20/#comment-20126. Got in then and took profits somewhat early :(
Sounds like Powell focused on jobs as driving rate policy / easy money rather than inflation. Latest CPI was inline with expectations too.
randy i follow an italian very famous trader and he is moving is portafolio to some cash and utility health care more safe stuff
Good to know, thanks for sharing. The rally in global equities could continue for quite a while but based on current valuations & the many yellow/red flags in the market, not a bad time to start moving out of growth stocks & into cash and/or value & defensive stocks/sectors.
He is a computer software developer worked for adobe as a consultant and many more big software companies and he is been trading for 15 years,he is building with a team of developers an app which tracks edge found manager buys and sells , this years posted his gains which are very high 250000 euros and wants to teach how to invest as swing trader and with fundamental analysis the average Italian person,he believes then the average person deserve to know at least how to invest for the long term for financial freedom when u want retired!he talks about the… Read more »