The Melt UP Into The New Year
The S&P 500 hits a new high this morning. Bitcoin will lift everything, along with previous Nasdaq/Tech laggards.
Happy Holidays Everyone! This will be our quickest read yet. But first you must read last week’s publication to get a better understanding. Read Here
What we like: Twitter, Forgerock, Bitcoin, ARKG
Look at the bigger picture. Inflation is transitory, everything is. The everything rally will continue. The S&P is about to breakout on the largest engulfing candle seen in a while.
Most unskilled money managers would look at this chart and see it as “the market being thin or weak” actually, when meanreversion plays its part, beaten down tech names will bid the nasdaq even further, not just the larger cap stocks.
Inflation is mostly supply driven and will correct. Just look at the prices in EU natgas.
Look how many ships are headed to the EU. No wonder there is a clear TOP IN ENERGY PRICES.
Forgerock Stock
One of top hedge fund holders increased its stake significantly earlier at similar price range around 11/22. The HACK ETF also raised its stake to 1.794M shs as of Dec 22 and is now the biggest holder. In Addition, T. Rowe Price increased its stake on Dec 13th by 36%.
Facebook’s Oculus Had A Great Christmas
Jack Dorsey changed name to Block and is super PRO-Bitcoin. Once he announces that somehow they figured out a way to transact quickly on the Bitcoin network. Bitcoin will pull money from venture capital funded coins. He posted this on twitter.
