I woke up to the news today. They had apparently conducted a survey from the future-recipients of the Stimulus checks about how they will spend this money?
Let me quote it here
235 individuals who were surveyed found that two out of five recipients plan to invest at least some part of the proceeds into bitcoin and stocks from their stimulus that they are yet to receive. Around 10% of the total gross payments or around $40 billion of the $380 billion in direct checks is going to the stock market and cryptocurrency.
This is something that has happened before, during the early days of Covid-19, people got checks and they starting creating accounts on retail trading apps like Robinhood and WeBull and we all saw how market made new all-time highs all of the year. This time, not only new accounts are coming but also more investment.
There is although fear of Inflation in the market and this is making sense too. This will increase the debts, weaken the economy, but every indicator says, the economy will not be hurt too much and actually, it will be on its way to its slow recovery post-vaccine era.
The article also speaks about more encouraging Deutsche Bank's survey last month which found rather $170 billion in potential stock-market inflows coming to the market our of $465 billion in direct payments.
At the time of publishing this article:
Market Fear and Greed Index by CNN suggests that there is no fear in the market at the moment and it is a good indicator that there will not be any panic sell, not immediately anyhow.
The Volatility Index is also on the decline, the weaker and slower it gets, the more certainty in the market we see. The MACD trend also suggests that it is going to stay there for a while, and if you see the trend-line is under 0.
Stock futures are either mixed due to Vaccine issues in Europe, but overall it seems very positive.
I say, it's a darn good day for trading! Keep the fingers crossed, and good luck!
I am watching the following stocks today, share yours!
FUBO Fubotv Inc
BA Boeing Co
TSLA Tesla Inc
CRSP Crispr Therapeutics AG
PLTR Palantir Technologies Inc
NNDM Nano Dimension Ltd
BNGO BioNano Genomics Inc
NIO Nio Inc
STPK Star Peak Energy
CCIV Churchill Capital Corp IV
OPEN Opendoor
VIEW View
AGTC Applied Genetic Technologies Co
CRNT Ceragon Networks Ltd
AYRO AYRO Inc
NDRA ENDRA Life Sciences Inc
... and some...
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