The Killer B’s …Biotech and Bitcoin
Courtesy of Howard Lindzon
Back in May, I shared that I was buying Taser ($$AXN) and more Bitcoin in this post ‘Zooming Out For A Couple Of Fresh Ideas‘.
Both have done incredibly well, but Bitcoin better rising from $8,100 at the time to near $20,000 this morning.
I have not sold either.
In June, I thought 2020 might be defined by the S’s as Snapchat broke out and I added the stock at $20 to my other S’s Spotify and Shopify.
Here we are now in December though and I am thinking that 2020 might be defined by the killer B’s – Biotech and Bitcoin.
Bitcoin looks ready to break and stay above $20,000.
My friend Brian points out the technicals here:
We could argue all day about the fundamentals so I won’t. The price is what matters.
As for the other B’s…the biotechs have earned their right to shine this year because of COVID.
In hindsight (vaccine) the breakout of the biotech indexes (ETF’s $XBI and $IBB) makes sense.
The important question is what happens next.
I like this chart and look from Puru which technically points to much higher prices:
Have a great day.
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.
