Record highs, historical, gold & bitcoin: Market Takeaways

I don't have my 6800 hat, but I do have a lot of records here. I was just looking at my Leaders ETF board and I was trying to circle all the winners here. Um, I don't want to have my back to the camera, so I'll just point to them. SOXX, that is chip stocks. Mags, that's Mag 7, that's an ETF. Quantum is a Quantum ETF. Qs, that's the Nasdaq 100, another record high. Uh, not that, well, yeah, Spy is the S&P 500, so we got a record high there. MTUM, that's Momentum. ITA, that's Aerospace and Defense. Yes. IWM, that's small caps.

And I think that's it. But that's what, one-third? So, yes, we have broad strength in the market and we saw it playing out today in force.

So, all dancing bears and rainbows. That's what you're saying, there's no concerns.

All puppy dogs and ice cream.

That's it, yeah.

History rhymes though. I had a really interesting conversation with John Grace. He's been helping out investors since 1979. We had him on Stocks and Translation. The episode drops Tuesday morning at 8:30 a.m. Eastern. and he talked about a parallel, great depression. You know, sometimes I roll my eyes, but he had a great point here and he was talking about Calvin Coolidge uh, who was president at the beginning, 1929. Um, and he wrote something years later and here's what John had to say about it.

He says, the Great Depression and the stock devaluation was something reasonable to expect. This is a quote, thanks to the orgy of stock speculation. Now, does that sound like anything going on around right here right now, the orgy of everything? That's what I'm calling it. Whether it's your house, your gold, your stocks, uh, your crypto, it doesn't matter what you own. You threw a dart in the dark and gosh darn it, it's worth more than you ever imagined it and it makes you feel smart, which means you're not ready, you have no exit strategy. So when things go awry, as they did in the Great Depression, stocks was were off 87%.

Yeah, so stocks were off 87%. It took until 1954 to reach those 1929 permanently high plateaus. Kind of an inside joke there for all you Great Depression people. Um the bottom line is we're used to these really quick bear markets and just getting back to highs in no time. Well, that's not always the case. So something to think about there.

It's Monday. Should we check Crypto?

You bet. It's been a minute and we have a Bitcoin Bulls battling the Bears kind of scenario here. I'm going to explain this. It's not just a trite rhyming or alliteration scheme that I've concocted for you viewers today. Bitcoin up 1% over the trailing 24 hours. Um let's do a three month chart because we have been in a trading range as I've been saying. I almost blue in the face saying that Bitcoin fakes people to the upside as well as the downside. That's exactly what happened up here. That's exactly what happened down here. Went a little bit lower than I thought we were, but we tagged the 200 day moving average and I said watch 115,000 when we come back up. So I'm going to put some candlesticks in here because from this high to this low, the middle part is fit that 50% line is 115,000 and that's what we came very close to hitting. When we hit that, I said, sellers are going to come in force. That's what they did, but they were not able to break those lows. So now we have climbed back up and we're just trying to get above that area. So now the new level for me is no longer 115, it's about 117 and a half. So let's call it 118,000. We get back above there, I think easily we get to new highs, uh, but that's where the battle line is right now, 118,000.

Gotcha, digital gold. What about yellow metal?

Yeah, we got a little time for that. So, gold crashed back down to Earth. It was at 40 something hundred, now it's at 4,500. D- Look at it's still up 21% over these trailing three months and for the year, it's still up 50%. So by no means would I be shorting this, but we had so much froth in here and so much going on that that was a little bit of a warning sign. So I will take that with a grain of salt.

Alright, thank you, buddy. Appreciate it.