Ethereum Delirium 🥴

The Tale of the Tape

Good evening folks. The S&P 500, the Dow, and the Nasdaq all closed at new highs. The Russell 2000 posted a strong day, but we are still waiting for a close above its mid-January levels. 

Energy, yes energy was the strongest sector again. Consumer Staples was the weakest, but its less than 1% off highs. So really, nothing to see here. At least not yet.

6 of the 11 major Sector SPDR ETFs closed at new highs:

$XLC, Communication Services

$XLY, Consumer Discretionary

$XLI, Industrials

$XLK, Technology

$XLRE, Real Estate

$XLF, Financials

Here are the closing prices for the major indices:

S&P 5003,379+0.65%
Russell 20001,689+0.71%
Dow Jones29,551+0.94%

Shopify Is the One that Got Away

Shopify reported earnings before the bell and the numbers were staggering…  

EPS: $0.43 vs. $0.24 est.

Revenue: $505.16M vs $482.08M (+46.9% Y/Y)

We’re surprised that the tech oligopolies didn’t buy these guys out before the company reached this $60B market cap. 

Here’s the $SHOP daily chart. Since breaking out of its downtrend in November, the stock is up 66%.

And for good measure, here’s the monthly chart. We couldn’t help ourselves, it’s beautiful.

Check out Shopify founder, Tobias Lutke on the How I Built This Podcast. Great episode.

Ethereum Delirium

Ethereum, a decentralized programmable crypto platform, launched 6 years after bitcoin, has more than doubled in price so far this year. It has also outperformed bitcoin over the same period by 100%.

This thing is going ballistic. The gains have been mesmerizing amid growing chatter regarding the applicability potential. 

In conclusion, we have no clue what is going on here. There might 5 nerds out there who understand what the heck is really going on. If that’s you, congrats. If that’s not you, and you’re long, may God bless.

Here’s the daily Ethereum chart. Helluva 2020 so far.

Solar and Oil Continue to Diverge. 

Here is a 5-year chart of US Oil Fund $USO and Solar ETF $TAN. 

$TAN had over 4x its average daily volume today, closing +4.78%. These guys are hotter than July. 

And while we are at it, here’s a monthly chart of Exxon, which was at one time the largest market cap company in the world. If it breaks 59, Whoa Nelly!

Win A Trip To NYC

Win a trip to NYC to ring the Nasdaq Opening Bell with us in the heart of Times Square on February 24th. Enter here.

Earnings Recap:


EPS: $0.77 vs. $0.76

Revenue: $12.01B beats by $30M. 

$CSCO -4% after hours.

Applied Materials

EPS: $0.98 vs. $0.93

Revenue: $4.16B beats by $50M

$AMAT +3% after hours.

Earnings Tomorrow:

Be sure to know when your stocks are reporting. Here’s the full earnings calendar.

Happy 86th Birthday Bill Russell:

Links that Don’t Suck

Opportunities in 2020 and beyond: APIs, Genomics, Communities, Video and good old SaaS 

All Your Favorite Brands, From BSTOEM to ZGGCD: How Amazon is causing us to drown in trademarks.

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