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Oh Snap: We Tried to Warn Them
We tried to warn them.
But the hype was just too hot to ignore.
On February 9, 2017, we noted that the Snap IPO “could be more trouble than it’s worth” based on overvaluation concerns alone. It wasn’t a safe bet. It never was. Any one that did any research knew that. At 60 times earnings, it would be one of the hottest IPOs to hit the market. Just to justify that valuation, it would need to grow its bottom line quick.
How to Technically Trade the News
“Don’t trade the news,” they say.
You’ll lose money. But the “experts” have it all wrong.
Trading the news is a seductive trap for those who aren’t in tune with major stock market trends. They don’t realize that in most cases, the market’s already baked the news “into the cake” by the time it’s reported.
Technical Analysis: The Case for Gold
Whenever the Federal Reserve even hints at higher interest rates, traders sell gold.
They fear gold would lose its shine, as compared to yield-bearing assets when interest rates begin to rise. In fact, it’s why gold had five straight days of losses prior to the June 2017 Federal Reserve meeting on rates. But with history as our guide, that’s a terrible reason to exit the trade.
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