Stocks and Securities

The second quarter wraps up today.  It’s been a mixed year so far for US stocks: The Nasdaq has gained nearly 10% in 2018, while the S&P 500 has added almost 2%. The Dow has dropped 2%. U.S. stock futures pointed to a strong start for Wall Street on Friday, led by gains for banking stocks after several said they would return capital to shareholders after passing the Federal Reserve’s stress tests.

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Banks were popping higher in premarket, with JP Morgan Chase & Co. (JPM) [stock_quote symbol=”JPM”]  up 1.5% in premarket. It was among the several banks that announced late Thursday plans to return capital to shareholders after the Federal Reserve released results of its annual stress test.

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The oil market kept its upward trajectory on Thursday as crude spiked above $74 a barrel for the first time since late 2014.The 13% surge over the past week has been driven by a confluence of bullish factors that will make American drivers cringe when they fill up their gas tanks. North American oil stocks have fallen as an outage at Canada’s Syncrude has locked in more than 300,000 barrels per day (bpd) of production. The outage is expected to last at least through July. Outside North America, record demand and voluntary supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) have pushed up prices. Unplanned supply disruptions from Libya to Venezuela have further tightened the market.

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Our “Radar” stock today is Amazon Inc. [stock_quote symbol=”AMZN”]. Amazon announced a program to support franchises for last-mile deliveries and announced plans to acquire the online pharmacy PillPack. These two developments coming together to make dealing with a pharmacy as easy as thumbing your phone: Place your order and an Amazon-branded truck delivers your medications along with customer orders from Whole Foods. Amazon said it has committed $1 million to a fund to help individuals and entrepreneurs set up a contractual delivery service with Amazon. Meanwhile, PillPack has pharmacy licenses in all 50 states. The company delivers medications to customers in pre-sorted doses designed to make it easier for people to take multiple medications a day.

We like Amazon as a core holding as it  has grown into one of the world’s largest companies. It has retail operations across the globe, a large cloud computing business, a video service that competes with Netflix and a hardware division that makes devices powered by its digital assistant Alexa, which is available to makers of appliances, cars and other products.

Blockchain and cryptocurrency

You know we hate to say we told you so, but we did. And, we did again. It doesn’t mater how many positive news articles are released, unless there is a healthy amount of volume, the brice of Bitcoin will continue to go down. Take some time and read through our articles discussing the challenges that Bitcoin faces. Most of the news out there is just about Crypto is bleeding. Although the narrative continues to be bearish, we believe that ETH has reached a buy / accumulation zone. According to our previous article, written yesterday, highlighting this key area as the zone to watch for a major bounce-back. For this reason we have added ETH to our daily stocks on the radar.

 

Bitcoin continues to stay within range. The price has not moved significantly since our publication of our previous report. We will post another update today, so please look forward to that. However, it is imperative to note that our bearish sentiment continues to stand.

Ethereum is up slightly this morning, however, looking at the chart in comparison to the Bitcoin chart, you can see that where Bitcoin goes, as does Ethereum. Ethereum seems ready to breakout. ETH is added to our daily Stocks on the Radar.

Stocks on the Radar

Amazon inc. (AMZN) [stock_quote symbol=”AMZN”] as stated above, Amazon Inc. announced the launch of a new offering that helps entrepreneurs build their own companies delivering Amazon packages. Amazon will take an active role in helping interested entrepreneurs start, set up and manage their own delivery business. Successful owners can earn as much as $300,000 in annual profit operating a fleet of up to 40 delivery vehicles. Amazon also announced plans to acquire the online pharmacy PillPack. These two developments coming together to make dealing with a pharmacy as easy as thumbing your phone: Place your order and an Amazon-branded truck delivers your medications along with customer orders from Whole Foods. Amazon said it has committed $1 million to a fund to help individuals and entrepreneurs set up a contractual delivery service with Amazon. Meanwhile, PillPack has pharmacy licenses in all 50 states. The company delivers medications to customers in pre-sorted doses designed to make it easier for people to take multiple medications a day.

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Ethereum (ETH)  –   Based on our previous post indicating this critical zone for ETH. Having lost more 50% of its value in just 54 days, the last time ETH was at these levels we saw a 120% bounce in matter of just 30 days. This is something to keep on your radar.

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Disclaimer: The above references an opinion and is for information purposes only.  It is not intended to be investment advice.  Seek a duly licensed professional for investment advice. The Author does not hold any of the securities discussed above.
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