The Trump Bounce & IPO Trading
Issue #14. CRWV, CRCL and IPO Trading. Gold & Reserve Assets.
Today we will pick up where we left off in the last issue — Stocks, Indices, FX, Commodities and the broader Macro setup. On top of that, we will also comment on two recent IPOs — CoreWeave (CRWV) and Circle Internet (CRCL).
Philoinvestors that follow the Philochat know we traded them both — CoreWeave on the short side last week and CRCL on the short side yesterday.
See below the Philochats 🔻 Note that they are usually behind a paywall.
In the last issue we touched on the parabolic action in Gold and how it wasn’t the best time to buy that overextended move — after more than a month, the technical picture seems to be changing.
On the stocks side, the Nasdaq 100 bounced from our first support level and is now nearing its recent highs. All that with a lot of pumping by Trump 2.0 as they try to repair the damage they have caused.
But just because they are pumping things does not mean things will get pumped…
This reminds me of BTC right now. We published DyC 2.0 in mid-December when BTC was in a major hype phase where even the President was pumping it..
Where is BTC now? Barely up 5% after a drawdown of 30%.
Where is ETH now? Down 32% after a 65% drawdown.
The market will do what it will do — no matter what the players around it say about it.
Which brings us to stocks and the broader equity indices — after which we will follow on with our traditional Breakout chart-bucket, plus a discussion/lesson on trading CRCL and CRWV (both recent IPOs).
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Before we proceed, note that Philo’s Academy is launching soon with Zero to Hero in Investing: Investing for Beginners and Professionals re-Discovering their Edge. Find out more at philomastery.com or message me for more details.