This is Overhead Supply
Again, it doesn't mean that the market needs to crash.
It's mostly just the fact that Tech stocks and other Mega-cap growth dominate the S&P500 and Nasdaq100 Indexes.
So without those sectors participating to the upside, these indexes above are going to have a hard time advancing.
On last week's LIVE Conference Call we discussed which sectors and stocks we think can be the leaders between now and the end of the year.
But over the past few days, we've had some developments in the Crypto space.
If Bitcoin can finally hold above 30,000, I think there's a ton of upside in the stocks.
As we've discussed, the best way to take advantage of higher Bitcoin prices, is NOT by owning Bitcoin.
The mining stocks are essentially acting as leveraged plays on the asset.
These are the ones I like:
All of that support broke down the past week. So without a swift recovery, there's nothing really to talk about here from the long side.
I specifically like MARA if it's above 16. And I like RIOT long if it's above 17.50.
I'm watching these very closely because the potential upside is substantial.
The details on these trades are listed here.
I think they can double.
What do you think they can do?
Chime in here and let us know!
JC