Stockmoney Lizards Newsletter - Issue #9
Dear Stockmoney hunters, Biotech & Crypto lovers,
the stock markets continue to move sideways. The major indices S&P 500 and the Nasdaq Technology Index (NDX) moved within a rather narrow range. The reasons for this are manifold.
One issue that continues to be of great concern to investors is the current rise in inflation. The U.S. consumer price index (CPI) stands at 8.5% in March. Compared to April 2021, this represents a doubling of inflation. As a result, more interest rate hikes are coming.
However, there are early signs that we are already at or near the top in terms of inflation and that interest rate hikes are largely priced in. This is reflected in the fact that no further drastic declines were observed and there was even an incipient recovery!
Another factor, which will additionally boost the stock markets, is the fact that the earnings season begins. Here, numerous (positive) quarterly updates are expected.
All this uncertainty in the market has also spread to the Cryptocurrencies (both Altcoins and Bitcoin). Nevertheless, we were able to further expand our position this week through smart trading, especially in Bitcoin. The basis for this were the support and resistance levels from our tweets of 18.4.2022 - after jumping over the "Ascending Supports", a short-term bullish momentum was offered here, which we could use for our sample portfolio after a short confirmation at 38.8k.
With the Altcoins, the situation looks similar. We currently see a basis for a bullish momentum. In addition to the current chart situation, this is also fueled by the fact that the first Bitcoin ETF will be listed in Australia next week. This means an additional number of potential buyers.
Biotech, on the other hand, had to accept a bitter discount yesterday, we are back in the range of a few weeks ago. We see this positively and use the weak phase for re-buys in our picks $NXTC and $ANAB.
We will keep today's edition short - Detailed updates next week!
Your Stockmoney Lizards