Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
MARKET UPDATE
Global fixed income and equity markets rallied yesterday on UK intervention
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Strong, broad rally
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Short-lived?
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BOE's move doesn't address fundamental challenges
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Euro stocks pared gains
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Bonds creeping higher
Cracks in housing
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Avg 30Y mortgage 6.52%
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How much home will $2500 get you?
Source: @M_McDonough
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No wonder mortgage apps are down and purchase index down 29% from same time last year
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Pending home sales down
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80% of pending sales become existing sales in 2 months
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Slowdown in existing sales ahead
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Source: RSM
Big jobs numbers
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Initial jobless claims 193k vs 215k expected
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Labor market remains strong, no signs of real weakness
Crude $82
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OPEC+ meets next week (Oct 5)
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$90 a barrel appears to be price target
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Production cuts ahead?
Source: LPL Reserach
Nord Stream update
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4th leak discovered
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Gas still bubbling to surface
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Location of exact leaks still unknown
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Sabotage still suspected
Apple (NASDAQ:AAPL)
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BofA dowgrade to netural from buy
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One of only 4 stocks that didn't participate in yesterday's rally (others: QCOM -2.43%↓ ALGN -1.47%↓ EXC -2.57%↓):
Retail capitulation?
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Retail sold net $2.9 billion past week
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Second largest outflows since March 2020
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Bulk of outflows from single stocks
Source: JPMorgan Retail Radar
Earnings
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Bed Bath & Beyond (NASDAQ:BBBY)
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Rite-Aid (NYSE:RAD)
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CarMax (NYSE:KMX)
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Worthington Industries (NYSE:WOR)
He has 1.8MM subscribers on YouTube and…
👉 his own place
👉 a good job
👉 doesn’t talk to ex
👉 a well-diversified portfolio of high-quality companies and not unprofitable tech stocks!
Watch my conversation with Meet Kevin on yesterday’s Bullpen!
CRYPTO UPDATE
Bitcoin has been outperforming over the past week
Source: Daily Shot
Potential regulations catalysts
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Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam thinks regulation will boost crypto:
“a massive opportunity for institutional inflows that will only occur if there’s a regulatory structure.”
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Behnam supports legislation that would make CFTC overseer of crypto industry
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If traded in CFTC-regulated market, said Bitcoin could “double in price”
MEME OF THE DAY
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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