As we ended the previous week and going into the new week, everything seems to be running hot. The Fear and Greed Index is pointing towards extreme greed, therefore, need to be extremely cautious in this market. I keep feeling like we are due for some type of pullback, but timing it is a the tricky game.
This week has got some exiting IPO’s coming in the pipeline. Generally, I tend to be weary about trying to FOMO into an IPO. But there are 5 names I’m truly excited about, which all seem to be coming within the same week:
There are three stocks I’m keeping an eye on this week. I have positions in all 3 already, just looking to make a decision on whether to average down or hedge:
Multiplan Corp (MPLN) - I was actually planning to write this post for yesterday, but didn’t want to rush my first post. MPLN is part of my Healthcare allocation picks and ironically, is up 13% today.
Can Fite Biopharma (CANF) - This stock has probably made me the most money at any one time. I may do some analysis on it at some point. This little biotech company based in Israel has so many drug trials in the pipeline, I’m surprised you barely hear about them anywhere.
Rocket Companies Inc (RKT) - I feel RKT is so undervalued and has so much room to grow in 2021. I keep adding to my position on every major dip. Both RKT and MPLN are long term plays for me.
I wanted to educate myself more about Bitcoin and the blockchain in general as a 2020 goal. I did so, and something finally clicked whereby I understood why Bitcoin matters. Whether it will stand the test of time, we shall see.
After the 2017 crash, I tuned out all things crypto. With all the noise in the world and a fresh perspective, I’ve been monitoring the price action. The chart is interesting because the crash happened Dec 17, 2017. Today is Dec 7, 2020. We are literally hovering around the same peak and timeframe when it all fell apart. Things may be different this time around, but I’ll keep watching to see if history repeats itself or we break resistance.
Fear & Greed Index - CNN Money
Bitcoin Price - CoinDesk
As always, this is not financial advice. I use this as a way to journal my thoughts and share with anyone else interested enough to want to read this.