Tuesday, December 12, 2023

CNBC - Fast Money - Karen Finerman admits she owns Bitcoin, $SPX, Tech Stocks Update

Karen Finerman admits she owns Bitcoin. 

Less than 1 week later; a flash crash in Bitcoin.   


It flashcrashed nearly 10% overnight, and nothing reported on it.  

What a great contrarian indicator CNBC Fast Money is!

I don't know what any serious money manager would be buying Bitcoin, and then admitting it on television, but apparently this isn't the first time...


The Truth about Bitcoin 

The truth is Bitcoin has been trading in a sideways range - like most everything else - for going on 5 years now! Is a worthless thing, which is backed by nothingness, and to compare it to gold is utter idiocy.    

Homework 

Chart Bitcoin 

Find where Bitcoin was trading in Oct 2021, and see what happened next 

The broader market? 

Don't even get me started... 

Yes, I'm still Net Long in the 401k account, but I'm unimpressed with yesterday's Monday morning surprise to the upside, in the same sector - the only sector - that's been pumped for the past several years, Tech. 

$PSE - NYSE Arca Tech 100 Index - Trading at all time highs 



$DJUSTC Dow Tech - Not much of a breakout, but a good thorough retest of the 2021 bubble level. 


The SPX?


Take Care, AA





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