Momentum Monday – Bet Bet Bet Bet Bet
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I do love Monday’s when the market is closed.
As the week begins, Fred Flinstone comes to mind, the original stone age degenerate gambler:
Draftkings, Robinhood and Flutter (Fan Duel) are leading the way of the ‘bet bet bet’ era which continues to explode with crypto, wallets, peer to peer betting and trading.
These are fascinating times in the market with three massive trends…
The world is deglobalizing which would imply lower growth. BUT, this deglobalization is powered by software, especially cyber software like Palantir, Cloudflare and stocks you can look up in the $HACK etf which are growing like mad and whose stocks continue to make new highs.
The people on the planet love ‘degeneracy’ (see my degenerate economy index and holdings) – vaping, gambling, trading and peer to peer digital gaming is just becoming an easier thing.
In this boom/bull market, physical commodities are not the only rare assets benefitting from deglobalization, so too is Bitcoin and the best and biggest technology companies like $META up a record 20 days in a row, Apple, Amazon, Netflix, Spotify. They have become (for now) global rare assets because of network effects, cost moat structures, distribution, customer addiction etc.
We discuss this and more on today’s Momentum Monday below:
Welcome back to Momentum Monday!
In today’s episode of Momentum Monday, Ivanhoff and I discuss the following:
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Vacationing in Tenerife: A European Escape
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Growth of Cybersecurity Companies
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Investing in Small Cap Companies: Strategies and Insights
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Emerging Trends in Self-Driving Tech
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AI’s Impact on Content Ownership and Financial Markets
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Bullish Market Trends and DraftKings’ Financial Evolution
Reminder: Riley on my team created the ‘Trends With No Friends’ email which is my go to list every day to track what is working and what is not. You can get it for free here.
In This Episode, We Cover:
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Vacationing in Tenerife: A European Escape (0:00)
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Growth of Cybersecurity Companies (3:48)
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Investing in Small Cap Companies: Strategies and Insights (7:26)
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Emerging Trends in Self-Driving Tech (11:00)
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AI’s Impact on Content Ownership and Financial Markets (15:01)
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Bullish Market Trends and DraftKings’ Financial Evolution (18:38)
Here are Ivanhoff’s thoughts:
Bull markets climb a wall of worry. This one hasn’t been any different. The market has been extremely resilient in the face of numerous bad news. Inflation is hotter than expected, yet the S&P 500 is at all-time highs. Most tech mega-caps sold off after earnings, yet the Nasdaq 100 is near all-time highs. Trade wars are accelerating, yet China, Brazil, and Germany markets are up 15% year-to-date.
Rates and the US Dollar are pulling back proving a solid tailwind for most stocks. The speculation is in full force. HOOD has more than doubled since the elections last year. It made another new 52-week high after crushing earnings estimates last week. Given the acceleration in their growth, I wouldn’t be surprised if it tags 80 at some point this year. Other brokerages have also been in a steep uptrend – IBKR and FUTU. TIGR might be the next one to join them. COIN has been stuck in a range as it is more dependent on the price action in Bitcoin. If BTCUSD goes above 100k, we will probably see COIN and MSTR catch up. DKNG is another stock that allows people to speculate. It had a big-volume breakout on earnings last week.
Speculation is running rampant but this time it is not concentrated in a select group of big tech stocks. It’s a true market of stocks with new leaders.
And here are the charts discussed:
PS – Here is the latest ‘Trends With No Friends’ which covers ‘new highs and new lows’ and measures the followers (friends) on Stocktwits versus the prices. Subscribe here.
