Today I want to talk about the FTX fiasco going on in the crytocurrency world and how it could affect the stock market.
The question is: How much contagion does this lead to?
Does it spread to the wider financial markets?
You might not think so, but you have to realize that this kind of situation creates selling.
It creates margin calls and all kinds of issues.
Now other crypto funds are throwing up the gates, meaning they’re not allowing investors to exit.
It’s these types of risks — external to markets — that I have my eye on.
Meanwhile, as markets churn, I’m looking for opportunities in individual stocks.
► Today’s pick is the same as yesterday: AMD. It didn’t hit it’s trigger yesterday, but it did this morning.. and it still looks like a great bearish play to me.
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👉👉 Our total now comes to 29 winners since we started in mid-August! (just 18 losers in that same period, with small losses in each)
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ABOUT DON’S DAILY BRIEF:
Every market day, Don Yocham scans thousands of potential stocks, whittling down the list to just a handful that could be setting up to make BIG moves.
The top idea from his daily scan ends up here.
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