Cryptos: A Happy Ending?

All things Crypto are all the buzz. Will there be a “Happy Ending?” Not according to Warren Buffett. The Oracle of Omaha says, “I can say almost with certainty that they will come to a bad ending.”

It would be easy to dismiss Mr. Buffett as an old curmudgeon whose time has passed and “just doesn’t get it.” But, he said the same thing about most of the high-flying internet companies of the Dot-Com boom – most of whom no longer exist.

Click Here for the full article and interview on CNBC with Warrent Buffett on Cryptos.

I think Blockchain is an important technology that will find it’s way into the mainstream and that Crypto Currencies will eventually find their place in the global money ecosystem. But both are very nascent at this point.

There are some Crypto/Blockchain that I am watching closely for trade setups and entries in the very near future.
My current favorite is RIOT and it is showing a classic and nearly perfect Elliott Wave 5 long setup, with a potential entry in a few days to a few weeks. If the final criteria is met, I will be publishing this trade to subscribers of my Stock and Options Picks and taking the trade in my Live Trading Room.

Meanwhile, in the Old School, boring markets (that still give us consistent profits!) the amazing Bull Market continues. All of the major indexes put in more record highs and show no sign of stopping yet.
There are some sectors and individual stocks in nice bearish patterns and we are in a few of those trades, but we are predominantly long, going with the overall market trend.

Gold is still bullish, and Oil is still bullish. In the video, I do a quick chart analysis of;
• RIOT (Riot Blockchain)
• S&P 500 Index
• Gold Futures
• Oil Futures

As always, I welcome your questions and feedback and hope for a lively, constructive conversation.
Trade safe – keep you winners big and losers small.

Dean

4 Comments

  • Frank

    Reply Reply January 16, 2018

    You said you are long some gold stocks.
    On your stock pick that I follow looks like you are long only AU

    Did I miss some??

    • Dean Jenkins

      Reply Reply January 19, 2018

      Currently the only one, but looking at a few more that are very close.

  • Dwight

    Reply Reply January 21, 2018

    Hi,

    If riot is due for an elliot wave 5 upward, may I ask where wave 3 actually began ?

    Wave 4’s seldom exceed 50% retractmennt , so this wave 4 seems quite lderp , but I may have mis labelled where wave 3 actually started ???

    • Dean Jenkins

      Reply Reply January 21, 2018

      RIOT is actually breaking down and does not look like a good wave 5 candidate at this time – big drop since the original post.

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