Monthly Recap: March 2021

In March, we saw an expansion in the crypto market with the addition of NFTs (non fungible tokens). NFTs are also known as digital art that essentially grants ownership of an image that is transacted through a blockchain. Throughout the month we saw certain NFTs selling for record setting prices with some close to hundred of thousands to even millions. One beneficiary from this NFT craze is none other than Ethereum. All NFTs are built on the Ether platform and therefore processed through the blockchain. If the NFT hype and craze continues, ETH should be on everyone's watchlist and everyone should be owning some!

Weekly Watchlist: March 1-5

Top Stocks for March 1st-5th: Crypto (ETH), API, PSTH Crypto (ETH): With the recent broader market selloff within the crypto sector this past week, short term wise it looks like we’ve hit the bottom. BTC strong support (45k) and ETH support (1350). If it holds above those levels, expect some near-term upside! Why did I highlight ETH? I think ETH is severely underperforming the entire crypto market and I have one reason why it can soon outperform. One answer, NFTs (Non-Fungible Tokens). Non-fungible tokens have taken the crypto world by storm and are selling for astronomical prices right now. NFTs are different from cryptocurrencies as each NFT is unique and can’t be replicated. In addition, you cannot exchange one NFT for another that runs on a blockchain network as there’s a digital ledger that records all transactions on the blockchain. So you’re probably wondering how ETH and NFTs relate to one another? Well, NFTs are built directly on the Ethereum network. And if someone wants to purchase an NFT they use ETH to purchase it. With the recent craze, many influencers specifically Logan Paul are starting to create their own personal NFT. Logan Paul dropped 3,000 NFTs with each selling for roughly about 1 ETH. What blew my mind was how quickly these NFTs sold. In 30 MINUTES! ETH is becoming more usable and the NFT market is only accelerating the adoption of ETH. As NFTs continue to gain popularity, people will be forced to purchase ETH to exchange it for NFT (digital artwork). API- In recent weeks, Agora (API) has jumped over 300% as investors are trying to jump onto Clubhouse’s growth. Some may ask what is Clubhouse? Clubhouse is an invitation-only audio chat that is used through a mobile app. So why Agora? Agora is the software that powers the app’s live streaming audio feature, providing real-time communication services to Clubhouse. Agora (API) has come down from its euphoric price action back down to the $60 level (support). I’m debating on starting a position this week as I can see it regain the $80-90 levels in a short time period. Agora makes money from the amount of time people spend on Clubhouse and if the app continues growing exponentially, Agora will be the prime beneficiary of this new social networking platform. PSTH- DEAL IS SOON! With the recent tweets coming from Bill Ackman himself, we can confirm that the deal will be announced before Q1 (March 31st) ends.

Weekly Watchlist: March 8-12 Top Stocks for March 8th-12th: Crypto, LMND, FVRR Crypto: Bitcoin specifically finally broke above the 50,000 resistance level over the weekend, possibly signaling an upside move to ATHs. This move was mostly contributed to the news that the Senate approved the $1.9 trillion stimulus package. Technical-wise, BTC is quite bullish on the daily chart and I won’t be surprised if it hits 60k at the EOW. One concerning indicator that may stop BTC from hitting 60,000 is the US dollar. Currently, the dollar has broken out of key level ($92); as the dollar increases, Bitcoin usually decreases in price. That’s why Bitcoin is usually referred to as a hedge for a weakening dollar. LMND and FVRR: After the recent selloff from hyper-growth stocks, Lemonade and Fiverr are showing relatively good buying opportunities. Depending on the market, we may potentially see a rebound from these oversold names and retest higher levels.

Weekly Watchlist March 15-19

Top stocks for March 15th-19th: Meme Stocks (GME, AMC, KOSS), Cryptocurrency, FTCH Meme Stocks: With stimulus checks arriving in the hands of many individuals in the coming days, I feel much of that $1400 will be heading into the stock market and cryptocurrency. And the stocks that will be receiving all that liquidity will most likely be “meme stocks” (GME, AMC, KOSS). There could potentially be another run-up within these names in the coming days, and I’m looking forward to participating in it.

Cryptocurrency: Although I’m quite bullish on the entire crypto sector, I do see a potential sell-off with BTC hitting 57k before continuing to test ATHs. With the FED continuing to print cash, inflation is inevitable and will only continue to get worse in the foreseeable future. Bitcoin is the ultimate hedge to inflation! FTCH: Looking to start a long-term position. I will be posting DD in a couple of days!

Weekly Watchlist March 22-26

Top Stocks for March 22nd-26th: GME, TSLA, CCIV (Lucid Motors) GME: With Gamestop reporting earnings on Tuesday, we’ll most likely see a flock of day/swing traders pushing GME possibly higher. GME will definitely be a fun stock to day trade or possible swing trade heading into earnings. TSLA: Friday night, Ark Invest had announced their Tesla price target which has been anticipated by investors and Wall St for quite awhile. With a whopping price target of $3000 at their base case and a staggering $4000 for the bull case, investors and traders will most likely be all over TSLA stock. The last time ARK came out with a price target for TSLA, the following trading day TSLA was up 19%. Depending on the market sentiment, TSLA could potentially be an awesome swing trade candidate. CCIV (Lucid Motors): Over the weekend, Lucid Motors had unveiled its plans to implement its battery technology and use it in the energy storage market. Lucid Motors had reported that they’re currently experimenting with energy storage systems for both commercial and residential customers (Copying TESLA). This would allow them to tap into the trillion-dollar energy market which is getting really competitive and crowded. In addition, there have been new images posted over the weekend showing the Lucid Motor Gravity SUV.