Stocks are relatively flat with UBS Bank down 3.9% after it was hit with a $26 billion capital requirement, Taiwan Semiconductor Manufacturing (TSM) is up 2.3%, which should help chip stocks, GameStop (GME) earnings, Tesla (TSLA) and Bitcoin (GBTC) acting as the day’s major catalysts.
I don’t much care about GME, but the news is it’s going the MicroStrategy (MSTR) route and adding Bitcoin to its portfolio.
The bond market (TLT) is still in wait-and-see mode, much like the U.S. dollar, which is below par and giving us next to nothing with July 9 not that far off and no trade deals in place yet.
I really like gold right now as it makes higher highs. As long as gold remains above its trendline, it’s in play for longs, especially as the dollar remains stagnant.
Crude oil has been surging and it’s actually bullish because there’s less fear of recession…
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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