By Nick Rokke, analyst, The Palm Beach Daily
Nick: Thanks for taking time to talk to me, T. Last month, you told us bitcoin was going “a lot higher.” Can it continue climbing?
Teeka: Nick, this is the very beginning of a much higher move. In fact, I think bitcoin is reaching escape velocity.
You see, this recent rally is happening while the trade war between China and the U.S. is heating up.
And here’s why that’s important…
Investors are concerned tariffs will hurt stocks—and sold… Since President Trump began ratcheting up his rhetoric last week, the S&P 500 is down 4%.
Now, I think this is just a short-term dip for stocks. But I’m not saying it won’t go any lower, either… In fact, I’ve even established new positions to take advantage of this pullback.
Still, the trade war is just an overblown story. A deal will get done. Both President Trump and President Xi are pandering to their constituents. They’re just playing hardball to not appear weak.
The bottom line is: China needs us more than we need them. So the U.S. has the upper hand. And eventually, we’ll get a trade deal because of it.
In the meantime, trade war fears will impact stocks. But for bitcoin, this is irrelevant.
Bitcoin is completely disconnected from the business cycle. Do you know of any other asset like that?
Major market divergences can be an alarming sign...
They're exactly what I'm watching for, right now, to tell me when the end of this bull market is imminent.
When the overall market hits a new high and important sectors like transportation or financials don't, it's a bad sign. These major divergences are warning signs that the market is weakening.
That's not a universal rule, though. Some divergences can be a positive sign. And we recently saw one of those when stocks hit new all-time highs just a few weeks ago.
The S&P 500 Momentum Index recently failed to break out to new highs alongside the S&P 500 Index – creating a divergence. But interestingly, this is actually a good sign for the overall market.
History says it's one more reason stocks can move higher from here.
Let me explain...
By Justin Spittler, editor, Casey Daily Dispatch
“How does a farm like this survive?”
That was the first question I asked my guide.
It was blunt – I’ll admit it. But I wasn’t trying to be rude… I was genuinely curious.
You see, I was at a coffee farm… And coffee’s taken a beating lately. Take a look:
The price of coffee has plunged 71% since 2011. It’s now trading at its lowest level in over 13 years.
I’ll tell you why in a minute. I’ll also share two great buying opportunities from our in-house commodities expert, Dave Forest.
But first, let me tell you why I went to a coffee farm.
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I was recently in Salento…
Salento is a small, charming town in the department of Quindío, Colombia.
It’s a favorite among Colombian vacationers and, increasingly, international travelers. And it’s easy to see why.
Just look at this photograph of me at Cocora Valley, which is about a 20-minute drive from the heart of Salento.
According to a recent report from Bloomberg, more than 108,000 millionaires left their home countries last year in search of greener pastures.
Most emigrated from countries like China and Russia… no surprise there.
India also saw a large outflow of millionaires as tax authorities tightened their grip. And Turkey continues to see an exodus, in the wake of strong-man President Erdogan.
But Western countries like France and England also lost boat loads (or planes full) of millionaires. Excessive taxation is the most obvious reason.
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For instance France taxes the net wealth of households worth more than €1.3 million. As a result there are fewer and fewer households worth more than €1.3 million every year. What a surprise!
And the United States was the second most popular destination for fleeing millionaires.
There are plenty of great reasons to move to the US: safety, a strong economy, certain personal freedoms. It still has a reputation worldwide as a good home for the wealthy.
President Trump shocked markets yesterday when he announced that a new, heavy round of tariffs on Chinese goods will take effect this Friday. Complacent markets had assumed that a trade deal would get done, that it was just a matter of sorting out the details. Now that is far from certain. Failing a last minute deal, which is certainly possible, the trade war is back. And it could get worse.
What most surprised me about the new trade war was not that it started, but that the mainstream financial media denied it was happening for so long. The media have consistently denied the impact of this trade war. Early headlines said that Trump was bluffing and would not follow through on the tariffs. He did. Later headlines said that China was just trying to save face and would not retaliate. They did.
Today the story line has been that the trade war will not have a large impact on macroeconomic growth. It will. The mainstream media have been wrong in their analysis at every stage of this trade war. And it did not see this latest salvo coming.
Since its release in 2009, James Cameron’s Avatar has held the all-time box office record for nearly a decade.
With a budget of $300 million and an additional $150 million for marketing, Avatar’s total cost of $450 million was made back several times. The big revenue came from the international box office, to the tune of about $2.8 billion ($3.3 billion in 2019 dollars).
Avatar was the first movie to break the $2 billion mark when not adjusting for inflation. In the process, it became the highest-grossing film of all time in dozens of countries, as well as globally.
Its domestic North American box office record of $760 million ($900 million adjusted) would stand until 2015’s Star Wars: The Force Awakens took over.
Though more successful in North America, The Force Awakens would ultimately fall short of Avatar’s international sales, earning just shy of $2.1 billion ($2.2 billion adjusted).
Avatar 2 and 3 are both currently in filming, and are expected in December 2021 and 2023, respectively.
And they’ll have monster expectations to match the bar set by their predecessor.
But that bar might be moving before they can make it to the start line…
Bitcoin’s price rose above $6,000 on most cryptocurrency exchanges for the first time today in nearly six months.
At 00:57 UTC on Thursday, the world’s largest cryptocurrency by market capitalization, which accounts for more than half of all other cryptocurrencies combined, picked up a bid and saw its price reach as high as $6,076 – its highest price since Nov. 14, 2018.
At the time of writing, bitcoin’s surge has slightly cooled off, now trading across exchanges at an average price of $6,045, according to CoinDesk’s price data.
In another first since last November, bitcoin’s market capitalization rose above $100 billion, $1.45 billion or 1.39 percent of which entered the market in the last 24 hours.
Further still, bitcoin’s dominance rate, a measure of its market share versus that of other cryptocurrencies, hit its highest point in nearly eight months at 56.8 percent – its biggest reading since Sept. 13, 2018, based on data from CoinMarketCap.
The Melt Up is ON.
The time to act is here. If you don't get moving NOW, you risk missing out entirely.
Even worse, if you wait any longer, you could act at the wrong time. You could become the "greater fool," buying at the top of the market. And if you make that mistake, it could spell doom for your portfolio.
The peak is closer than it has ever been. We're not at the end yet, as I'll explain today... But you are almost out of time.
I can't stress this enough. If you want to earn big profits... if you want to cushion your portfolio or retirement... my friend, this could be your last chance.
So please, pay attention. A lot has happened in recent weeks. And the pieces falling into place give us a precious window of opportunity – before the bottom falls out.
Let me explain.