Tale of the Tape
Good evening, everyone. Get ready for another rowdy week on Wall Street! 🤠
137 S&P 500 companies are expected to release earnings and the crypto craze is heating up. 🔥
Berkshire Hathaway dropped earnings in dramatic fashion on Saturday. Charlie Munger does not like crypto… 😬 Read more below.
The market of stocks is still a mess. The S&P 500 barely budged but it was a rocky week-end for the Russell 2000. The small-caps stumbled Thursday and Friday. Is that a head and shoulders or are we about to rip?
Here’s the $IWM daily chart:
Tech tumbled 4 out of 5 days last week while real estate rallied to an all-time high.
Lumber futures are in ludicrous mode. How high can it go?? Nobody knows. 🌲🎈
Here’s its weekly chart:
The weekly S&P 500 chart:
And last week’s changes:
Crypto Candles 🕯
Crypto doesn’t close and the craze continues.
Bitcoin took a break this weekend after its +7.87% Friday grind. Will we see 60K or break below 50K first?
Ethereum looks to say, ‘hey’ to 3K. $ETH.X has etched higher 8 straight days.
Ethereum has noticeably outperformed Bitcoin since April 1st— no joke. JC Parets shared this All-Star chart:
First down month for bitcoin since last September. Ethereum keeps its streak alive with a 7th consecutive month of price appreciation.
DOGE.X and SAFEMOON.X are the most active streams on Stocktwits.
Crypto is crazy. 🤪
Berkshire Is Baffled
Berkshire Hathaway released first quarter 2021 earnings at its annual meeting on Saturday.
Q1 Operating Earnings came in at $7.02B, up $1.15B YoY. Read the full report here.
Warren Buffett and Charlie Munger spoke to shareholders for ~5 hours following the release.
Buffett beautifully passed when Bitcoin came up but Charlie Munger had his own words,
Of course I hate the bitcoin success. I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air.
I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization,” said Munger, a legendary investor in his own right.
Here’s the full 5-hour feature.
We’ll see where $BRK.A breaks on Monday.
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🤬 Pinch Yourself, It Still Hurts
🇪🇬 Researchers Discover The World’s First Pregnant Egyptian Mummy
🐎 With Zed Run, the Kentucky Derby Has Some Virtual Competition
🍿 Smart People With Bad Takes… Bitcoin, Robinhood and Price Pays
😎 Adriano Design Spirals Glass Elevator Home From China’s Paddy Fields
The Week Ahead
And now a brief and well-organized look ahead at the trading week beginning Monday, May 3rd, 2021:
5/3 April ISM Manufacturing Index (10 AM ET)
5/5 April ISM Non-Manufacturing Index (10 AM ET)
5/6 Jobless Claims (8:30 AM ET)
5/7 Unemployment Numbers (8:30 AM ET)
Here’s the full Economic Calendar provided by Briefing.
Be sure to know when your stocks are reporting. Here’s the earnings calendar: