Watch out for that Bitcoin! It’s 10;15AM PST, and BTC is now steadily creeping higher at 63k. The big pop happened last night (my time) around 1AM, so it looks like some huge buy transactions in Asia broke the resistance. Since then, it’s been maintaining its upward climb. Will this move past 60k hold long term? Based on how its been behaving over the past few months, I believe so. I should have added more in the mid 50’s. Damn.
The Nasdaq is up again, 0.66%, while my portfolio is up by 1.5%. Today’s a decent green day. No real buying opportunities, I might spend just a little money to incrementally add to FAANG positions as I see this continue to climb into the year. Amazon has finally gotten off the couch and started moving again. I think we will see 4000 soon. Would love to hear rumors of a split.
INTC is down about a point, but will wait for lower prices before I add to my position. Intel is a re-investment to domestic production of chips for me, so it will take a little time for them to execute on that. I’m so happy to hear about Gelsinger as the new CEO. Never put a money guy in charge of a technology company.
Market close update: Super nice up day! Portfolio closed up +2.5%, even with AMZN retreating from day highs. Almost all my positions closed up, with TSLA and ARKK taking top honors. Amazing what indiscriminate money printing will do to your portfolio.
One downer: DIS is down yet again. I’m still super excited about Disney’s streaming and IP strategy. Last week’s Falcon and Winter Soldier episode proves that they have a knack for storytelling, and all the dumb youtube reaction videos prove it. Imagine the potential when they an actually execute on all the glorious Marvel IP thay have in the next few years. I’ve never thought of it this way, but what if a single company owns an entire genre of storytelling, from books to comics, movies, games, rides, and party kits? What if one single company owned all of “horror” or “comedy”? Isn’t that a crazy idea? Well, you can argue Disney owns all of the superhero genre as far as mass-market is concerned (I do like Invincible so far). They also own a good chunk of space Sci-Fi and an even larger chunk of the “For Kids” genre. Sure, you can argue their valuation is overly optimistic, but if we’re talking about a 5+ year timeline, why not bet on that horse?
Common sense disclaimer: This post is just a journal. It is not intended to be read by anyone other than for the purposes of entertainment. I am not in the financial services industry, so I am not qualified to give any advice related to investing. Assume I am just your neighbor standing on the curb with you holding a can of beer and shooting the shit.