More Jobs Than Ever Before and More Free Time Than Ever Before…You Can Have Both !?

Before I get into it…how about these Dolomites!!

My guide Filipo grabbed this great photo of me somewhere along this 10k climb to the ridge/valley below the first set of Dolomites we will see this week…

I made it to the top of the 3,500 foot climb with no issues…

Today will be a much bigger challenge as we have a 30 km climb and 5,500 feet straight up and out of the hotel. This adventure/vacation feels like work.

Place your bets…

Onward…

For so many, it seems like there are more opportunities than ever and more time.

I am no doubt biased based on my age group and demographic (I can work long, productive hours from anywhere including my cycling trip), but the data does not lie.

There are MORE jobs than EVER before…

It does not feel like people are at all interested in ‘these jobs’. Hiring is brutal, not just for restauanats and other service businesses but for startups as well.

Tik Tok, Instagram and Snapchat content is increasing as is time spent on the sites. Etsy, Shopify, Square, and the rest of fintech and e-commerce are working their magic… steering people away from the jobs that the government is used to tracking.

Back in January 2020 I wrote ‘The Golden Age of Art and Creativity‘ and that was before COVID did it’s thing (and continues).

There are lot’s of new stresses coming into the system, but I sense that people will be happier in the new ‘jobs’ that the government eventually figures out how to measure.

Momentum Monday From Italy – Chops and Flops

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.

The market actually went down last week.

I won’t be in country to save it this week, so please everyone do your part.

The first of my eight rides in Italy began Sunday, a mostly downhill, get your head and legs ready 29 mile ride from the Austria/Italy border to the city/town of Brixen which is spectacular.

I am with a group of friends coordinated by my pal Mike Dean who turned 56 yesterday. I turn 56 as well this Friday. Some cocktails were and will be consumed…

This morning I have a nasty climb into the Dolomites but the reward I am told is sheer beauty.

Back to the business of Momentum…

You can watch/listen to the episode on YouTube as always here. I have embedded the show below on my blog:

Ivanhoff’s comments :

September came and volatility has picked up with it. Last week we saw quite a few breakouts reversing and good setups breaking apart. It’s about time some would say. We have become so accustomed to the slow grind higher than even a 1% down day seems like a big selloff. It’s all about perceptions. Pullbacks are a normal and even desired part of the cycle because they make every trend more sustainable and provide much better risk/reward entry points. We should not be afraid of them. We should welcome them.

The S&P 500 seems on its way to test its 50-day moving average for the 8th time this year. Guess what happened in the previous occasions. Just when most became comfortable with the short side, SPY bounced fiercely and made new all-time highs. This behavior won’t continue forever but as of right now there’s little reason to believe that dip buyers won’t show up again. QQQ is still above its 20-day moving average. The semiconductor ETF – SMH made new all-time highs on Friday, albeit it finished weak near its lows of the day. The industrial metal ETF – XME, also tried to break out but ended near the lows of its daily range. Most importantly, we continue to see a strong market reaction to earnings reports. AFRM, LULU, MDB, ICUI, RH are just some of the big breakout examples from the past two weeks. The market sentiment is still bullish and dips are likely to remain buying opportunities. With that in mind, I am holding a large cash position and will focus on quick short-term trades for the time being.

Quickly to my other favorite momentum links…

Charlie’s 7 chart Sunday

Stocktwits free weekly 25 momentum lists

Nikita’s weekly SPAC update

Have a great week.

Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. For full disclosures, click here

Sunday Reads and Listens

Today I head off into the Dolomites for eight days of riding with my friends.

I did not see much of Munich, but liked what I saw and the food was great. There was a great Saturday market I stumbled into and ate like a pig.

I also caught this amazing soccer dribbler doing his street art and caught a few minutes on video. The gentleman did not drop the ball for over 10 minutes.

I had a lot of time to read the last few days. I will start with a sad but great piece from Esquire titled ‘The Falling Man‘.

Ellen and I watched a few 9/11 memorial shows the last few weeks. It is impossible to forget.

Next up, a couple of great reads from Ben Thompson including ‘The App Store Trap‘ and ‘Regulators and Reality‘.

The next piece is on Joe Lubin (Toronto boy), ‘Wall Street’s Crypto Whisperer‘.

I loved this piece from Seth Godin titled ‘Speculation Is The New Luxury Good‘. This gem from Seth…Speculation is a great hobby if you can afford it, but it shouldn’t be confused with investment.

Finally from HBR- ‘Founder Led Companies Outperform The Rest – Here’s Why‘.

As for a podcasts, I enjoyed my friend Jim O’Shaughnessy talking to Alex Danco (I have had him on my podcast) on the subject of ‘World Building‘.

Have a great Sunday.

The Meme Economy – A Closer Look at Our Documentary

A few weeks ago I teased here about a documentary I was involved with as an investor and executive producer.

The working title of the documentary is ‘The Meme Economy’. Young kids investing and trading today were not here in the 1990’s when social investing was born. The first internet boom led to an explosion in retail chat and trading. AOL ICQ Chat, Yahoo Finance, The Motley Fool, Raging Bull, The Street.com, Datek, Etrade and the wild internet stocks of the era – Iomaga, AOL, Qualcomm, CMGI, ICGE, Amazon, Yahoo, Akamai, Inktomi, Etoys etc…

At the time, retail was working with 20 minutes delayed quotes. It seems obvious of course, but we were doomed.

Today, retail has better information than most institutions.

I was up in LA a few weeks back to meet with the team and visit with my friend Josh Brown who agreed to be interviewed for the documentary. Josh did not disappoint. He gave so many great takes that will be used throughout the film as we tell the story of social investing from the 1990’s through today.

You can read a little about the documentary and the team here in this Deadline article breaking the news. Chris and his team also have an Ethereum documentary in the hopper to do next. The capital was quickly raised in a crowdfunding campaign.

I am excited to have these stories told and for everyone to see the arc of social trading and investing these last 30 years and to follow along with some of the most interesting people in the meme economy investing world.

Have a great Saturday.

PS – Here I am with The Meme Economy director Chris Temple…

And Josh Brown…

Another Netflix Breakout

I am excited to be working and biking over in Italy the next few weeks.

I will also be at the Amsterdam Money Show later in the month before heading home.

I loaded up a show called Clickbait (meh) and the Lynyrd Skynyrd documentary (pretty good) for the flight over.

Earlier this week Ellen and I watched the documentary ‘Untold Breaking Point‘ about Marty Fish which was excellent.

Quietly, Netflix broke out to all-time highs again this week.

Here is the chart:

This is a monthly chart so we have a ways to go before we get a monthly closing high, but I sense investors will stay long.

The storytelling and movie making that was held back the last 18 months should explode back and I will continue to be there every night to enjoy

Netflix continues to make it easy to sit back and chill and although the growth has slowed, their ‘attention dominance’ at home and abroad will continue to provide an edge.

It is one of my 8 to 80 stocks. I imagine they could be very creative about podcasts, e-commerce and even NFT’s in 2022.

Disclosure – Long

Coinbase – Better Them Than Me…

Last week it seemed nothing could stop crypto.

Life was grand.

Today, I woke to this tweet from Coinbase CEO Brian Armstrong:

Coinbase has received a ‘Wells Notice‘…

A “Wells Notice” is a letter sent by a securities regulator to a prospective respondent, notifying him of the substance of charges that the regulator intends to bring against the respondent, and affording the respondent with the opportunity to submit a written statement to the ultimate decision maker.

Now, usually it is the SEC that uses terms like ‘sketchy’.

As we say these days on social media …’shots fired’!

I sensed the SEC and Gensler have been gearing up for contact based on Gensler’s social media push. This weekend I wrote here:

The SEC has been quiet for what seems like 1,000 years. Gary Gensler the new head of SEC and of course former Goldman Sachs partner won’t shut up. He has a Twitter account and is having a lovely time sharing all his media appearances. I thought his Twitter account was a good idea at first because it showed he might be listening. Alas, it is just to push his confusing agenda.

While Gensler is on his media tour moving markets looking to help Goldman Sachs, the WSJ has a story about ‘The Social Media Stars Who Move Markets‘.

You can read the rest of Brian’s Twitter rant/plea/thread here.

I looked up the SEC and ‘what it is they do’:

The U. S. Securities and Exchange Commission (SEC) has a three-part mission: Protect investors. Maintain fair, orderly, and efficient markets. Facilitate capital formation.

With Gensler enjoying TV and Twitter, the definition above could mean just about anything in a world where 100 million new traders and investors have apps and crypto markets are open 24/7.

Prepare for a lot more volatility if you own brokerage and crypto exchanges.

Momentum Monday – The Perfect Storm ?

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.

Happy Tuesday.

A rare Momentum Monday here on Tuesday due to Labor Day and the markets being closed.

As always, Ivanhoff and I tour the markets looking for the momentum. My dog Lindzee joined for the open. Not much has changed in the last few weeks, we continue to see strong tech and semi’s and financials and crypto, but we did see some fresh breakouts in software stocks and we went through that in the video. You can watch the show right here on YouTube. I have also embedded the show here on the blog:

The summer is over, but the crypto summer rages on with Solana up another 100 or so percent last week. I try and explain what I am seeing and hearing about the incredible run in the episode.

Here are Ivanhoff’s notes:

Most of last week’s price action can be summarized in one sentence: tech stocks continue to outperform the rest of the market while cryptos are outperforming the tech sector.

Semis are hovering near all-time highs – SMH, NVDA. AMD, AMAT, and LRCX are setting up for a potential breakout.

Software stocks have been extremely strong – not only cybersecurity but also application and infrastructure software names – IGV, SKYY, ZS, OKTA, S, NET, MDB, WDAY, TEAM, U, SNOW, CRWD, BILL, SHOP, LSPD, etc.

The payment stocks – PYPL and SQ are both working on new bases. PYPL seems ready to close its earnings gap and push towards 300. SQ is setting up for a breakout near 275.

Covid-related stocks are perking up again. The mRNA vaccines – MRNA and BNTX finished on a high note last Friday. The testing stocks like DGX, TMO, HOLX, QDEL, have been slowly climbing as well. Health pass stock YOU is also setting up for a potential bounce.

Elsewhere in the world of Momentum…

Stocktwits FREE weekly momentum lists are here. The small caps continue to have the huge yearly winners with some staggering YTD returns:

Something new from Stocktwits is a daily FREE morning email on the Indian markets. The team now has streams and conversations on Stocktwits for Indian stocks. The morning email is a great, quick read that will have you caught up on the pulse of the Indian markets. It’s fun to know what is working on the other side of the world.

Have a great week.

Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. For full disclosures, click here

Happy New Year – I Hope This Year Is Mintable and Filled With Ethereum! …And The Story Of IggyPunks.

Today is Rosh Hashanah the first day of the Jewish New Year, the first day of the Jewish High Holy Days.

Happy New Year. May your year be mintable and filled with Ethereum.

I’m starting the new year talking NFT’s something even God did not foresee.

I did not know this but I was inches from NFT’s way back in 2006 when I had these digital paintings made by Jenny at IggyArt:

I had discovered Jenny’s work the year before at a local Phoenix Starbucks.

Last week Justin reminded me of it with his tweet and Fred Wilson and I joined in on the thread:

I immediately switched my avatar back to IggyArt. Fred has kept his IggyPunk avatar since he got it in 2006.

Here is Fred telling the backstory from way back:

It makes sense that Fred Wilson is the original CryptoPunk. He is usually 10 years ahead of everyone.

If only we had minted these on the blockchain that did not exist!

As someone pointed out to me though later in the Twitter thread…I have had a great return on the Suns tickets I offered up to Fred back in 2006.

PS – Justin sums up the current art craze as such…’People really like pixel and 8-bit art. Collectors call the Covid alien punk the “Mona Lisa of our generation” and art gonna art.

Sunday Reads and Listens…The Markets Are On My Mind

Good morning everyone.

Google turned 23 years old yesterday. I joked on Twitter that I hope they finally find a business model and get their act together:

I think everyone wants to know if we are in a bubble right now.

I had John Street Capital on my podcast last week and he summed up our financial moment in time right now as this:

Quantitative easing turned your savings account into checking…The bond market into your savings account…the equity market into the bond market…the venture capital markets into equity markets and gave rise to crypto

You can listen to it here.

The SEC has been quiet for what seems like 1,000 years. Gary Gensler the new head of SEC and of course former Goldman Sachs partner won’t shut up. He has a Twitter account and is having a lovely time sharing all his media appearances. I thought his Twitter account was a good idea at first because it showed he might be listening. Alas, it is just to push his confusing agenda.

While Gensler is on his media tour moving markets looking to help Goldman Sachs, the WSJ has a story about ‘The Social Media Stars Who Move Markets‘.

Charlie had three great posts that I want to link to but his tweet summary of the move in Solana really stopped me in my tracks (I have been a lucky owner from the start from my investment in Multicoin):

The first is about the top 30 stocks of the last 30 years. The ultimate investing superpower would be to have held these and or find the next 30. I think about this all the time with my 8-80 portfolio and trying to be patient and hold, but curate the list enough to own as many as possible.

‘The Greatest Uptrend in History’ does blow my mind. Have a read.

Charlie’s third has me thinking it is way too calm.

Back to ‘is it a bubble’?

Nobody knows. Try very hard not to chase stocks or any asset.

As I like to tell people, it is OK to panic if you panic first.

While everyone has FOMO about missing the next Solana and everyone thinks cash is trash (it mostly is if you have a long enough time horizon), have a plan.

I think everyone should have a financial advisor or coach or mentor and it is ok to pay for it.

Finally, I will leave you with a really good listen. This interview on the future of gaming which should help you understand crypto and NFT’s much better.

I Can See !!!! ….My Screen and My NFT’s

It’s no secret…I’m old.

Forget the ear hair and nose hair and prostate and wrinkles and age spots and receding hairline and gross toes, I can’t see well. I have never seen well. I had a floating, weak eye when I was a kid. Ladies (girls) loved it. After I had an operation to stop the floating, my optometrist had me wear a patch on my strong eye which he believed might strengthen my weak eye. No wonder I was single until 30.

Today, I don’t mind not seeing well at a distance but now I can’t read my iPhone too good.

So I caved. I bought some Foster Grants.

Lo and behold…I look like Cathie Wood now (Cathie is posing here with Yoni Assia the founder of Etoro):

Onwards…

I wake up every morning at 5 am to write this blog.

I have my best shot at writing clearly is with blurry sleepy vision and a coffee and not a million thoughts in my head.

I sit down at my Mac Desktop and bang out a post.

One problem I have the last few years writing daily is ‘who am I writing for?’ Should I be silly or write updates for my LP’s so they know what’s going on with portfolio companies or about the markets so I can help think things through and form strategies….

I never look at my metrics because that is not why I write here. I have decided to change that because I want to try and grow my audience. I do not think it will change how I write but we hired someone at Social Leverage to help organize and grow the audience here and on my videos and podcasts while improving the content for our limited partners.

Finally today…

People in this blog community have been asking for more information about NFT’s.

I liked this article – ‘What You Could Be Missing About The NFT Crypto Boom‘. From the art angle this really rang true:

So here we are, but instead of 1890 when Modern Art began, it’s 2021 when NFT art is beginning. Are you going to go score yourself an investment? Or do you prefer to sit back and watch until you see who the most valuable artists are. Either way, it’s an exciting time for this digital revolution going on in our lifetime.

The Bankless team is writing a lot about them and you can subscribe here.

Packy has a great essay that explains NFT’s here.

Have a great Friday.