Tale of the Tape
Good evening everyone and Happy Monday 😀
The Nasdaq Composite closed up 1% today for another all time high. The Index is up 62% from the March 23rd low close and 23% higher on the year.
The Comp easily outperformed the other major averages (See Table below).
Precious Metals and Mining Stocks were winners with Gold up 2% and the US Dollar Index down and nearing recent lows.
Airlines and Banks were terrible down 3.8 and 2.4% respectively.
Tesla ramped another 11%. RIP TSLAQ Crowd (See more below).
Overstock ripped 25% after Piper Sandler initiated analyst coverage and gave the stock a $140 price target. It is now up 1575% YTD. lol!
UNC Chapel Hill will halt in-person classes and go fully remote after a coronavirus outbreak. Sheesh.
Here’s your closing prices on the major stock indices:
| S&P 500 | 3,382 | +0.27% |
| Nasdaq | 11,129 | +1.00% |
| Russell 2000 | 1,584 | +0.48% |
| Dow Jones | 27,844 | -0.31% |
RIP TESLAQ
Tesla closed at an all-time high this afternoon. The stock was up 11.20% after taking off in the AM and closing strong.
$TSLA is up 33.48% in the last four trading days following its 5 for 1 stock split announcement.
It now has the 10th largest market cap of any US company well over $300B. It’s up 338.55% YTD.
Bitcoin
Don’t look now but Bitcoin is making two and a half year highs in here.
The latest $BTC.X price is around $12,300 and the number of news stories we’re seeing is skyrocketing.
This puppy will still need to rally more than 50% to exceed the all time high from December 2017. Remember that sublime hilarity?
Message Volume on the StockTwits Bitcoin Stream is also exploding with a 500% increase from three weeks ago. Social interest is ramping.
One other tidbit here. After the bubble high of Q4 2017, Bitcoin crashed but never went to zero as the greatest pessimists predicted. It survived the crash and so maybe this is Act II?
Place your bets…
Here’s the 5 year $BTC.X chart (what a ride):
$VTI Soooo Close
The Vanguard Total Stock Fund is a baby’s breath from its all-time closing high set in February.
$VTI tracks the CRSP US Total Market Index, which is a broad index with small, mid, and large cap stocks, including both value and growth (over 3,000 names).
The ETF is up 54% from the March 23rd bottom and less than 0.5% FROM THE February 19 all time high.
If this guy breaks out to new highs, it speaks to the breadth of the current bull market so definitely keep an eye.
Here’s the YTD $VTI chart which gives you a good idea how close we are to the all-timers…
Stay $GOLD Ponyboy
Warren Buffet’s, Berkshire Hathaway purchased ~21M shares of Barrick Gold last quarter. Today, $GOLD gained 11%, closing at its highest level in 7 years.
In 2019 Barrick produced 5.5M ounces of Gold at a cost of $894/ounce.
With Gold trading at all time highs these folks are swimming in cash.
Here’s the Wall Street Journal with more.
And here’s that scene from The Outsiders.
NBA Playoffs
Playoff Basketball is back.
The Denver Nuggets and Utah Jazz kicked off the NBA Playoffs and boy the opening game did not disappoint. The Nuggets and Jazz needed overtime to settle Game 1 but in the end Devner came out victorious. (Denver 1-0)
Here’s the full line-up for today:
And here’s NBA.com with more.
Earnings Tomorrow
Be sure to know when your stocks report earnings. Here’s the full earnings calendar.
Links That Don’t Suck
🌌 Stocktwits After-Hours: Are Stock Splits the Future?
Subscribe: Spotify | Apple
🙋🏼♂️ Microsoft will bid farewell to Internet Explorer and legacy Edge in 2021
🛢 Trump Administration Finalizes Plan to Open Oil Drilling in Alaska’s Arctic Refuge
A Bunch of Kids Covering Fugazi and They Crush It (This Is Blowing Up On YouTube)
🍺 Chicago’s 1855 ‘Beer Riot’ Is a Bridge to the Unrest of 2020
🌕 Hubble just Captured a Lunar Eclipse for the First Time Ever
🏀 The NBA Playoffs, Brought to You by Kawhi Leonard
🏗 Amazing Architecture You Can See From Your Car Window
🏆 Interview with 2019 US Investing Champion Leif Soreide | Key Swing Trading Setups and Methods
