{"id":111168,"date":"2017-08-18T10:01:31","date_gmt":"2017-08-18T14:01:31","guid":{"rendered":"http:\/\/countingpips.com\/?p=111168"},"modified":"2017-08-18T07:02:15","modified_gmt":"2017-08-18T11:02:15","slug":"friday-charts-the-only-asset-worth-buying-on-weekends","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/friday-charts-the-only-asset-worth-buying-on-weekends\/","title":{"rendered":"Friday Charts: The Only Asset Worth Buying on Weekends"},"content":{"rendered":"
August 18, 2017<\/div>
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By WallStreetDaily.com<\/u><\/a> \"Friday<\/p>\n

It\u2019s Friday in the Wall Street Daily <\/em>nation. And longtime readers know what that means\u2026<\/p>\n

We\u2019re taking a break from our typically long-winded commentary (keep the hallelujahs to yourself) and instead cherry-picking a few graphics to convey some of the week\u2019s most important economic and investing news.<\/p>\n

Or more simply, we\u2019re going for less talking and more graphics.<\/p>\n

This week, we\u2019re also mixing in some 1980s music references. So a virtual mixed media investment mash-up awaits you.<\/p>\n

It involves another friendly reminder to steer clear of Wall Street\u2019s hyped-up IPOs, as well as the only asset worth buying on weekends. Yes, weekends.<\/p>

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<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

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<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

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Seeing that it\u2019s Friday, you shouldn\u2019t tarry any longer\u2026<\/p>\n

Snap, Crackle, Drop<\/h2>\n

File this in the \u201cWe Told You So\u201d folder<\/strong><\/a>.<\/p>\n

Even though the newest social media company to come public posted a 153% increase in sales, Snap\u2019s (SNAP) profitability is heading in the opposite direction. Fast.<\/p>\n

During the second quarter, Snap\u2019s losses almost quadrupled to $443 million.<\/p>\n

\"chart:<\/p>\n

If share prices ultimately follow earnings \u2014 and they do, as evidenced by Snap\u2019s 13% post-earnings report sell-off \u2014 there\u2019s not a single reason to own the stock.<\/p>\n

I take that back. If you like living on a prayer, Bon Jovi style, there\u2019s a chance Snap eventually gets acquired, as I shared on CNBC<\/strong><\/a> recently.<\/p>\n

And there\u2019s legitimately a chance that happens. Before the company ever came public, Facebook reportedly offered $3 billion to buy it. And more recently, Alphabet is rumored to have offered $30 billion.<\/p>\n

In case you\u2019re wondering, Snap is currently trading at about a $15 billion valuation. Management\u2019s refusal to double shareholders\u2019 money and call it a day would trouble me if I owned the stock.<\/p>\n

Such stubbornness could ultimately result in lower shares prices and much lower takeover offers.<\/p>\n

Bottom line: Snap should have never had a \u201cBuy\u201d rating from Wall Street. It certainly didn\u2019t get one from this guy. I\u2019m convinced there\u2019s more downside ahead.<\/p>\n

Look Out Weekend, Here (Bitcoin) Comes<\/h2>\n

When the closing bell rings on Friday, most investors are trained to think the gains are gone until Monday morning. Think again!<\/p>\n

Over the last two weekends, bitcoin surged to record highs.<\/p>\n

\"chart:<\/p>\n

The cryptocurrency has more than quadrupled since the beginning of the year.<\/p>\n

Meanwhile, the more traditional alternative currency, gold, has barely budged, climbing only 12% year to date.<\/p>\n

Is it too late to get in on the cryptocurrency profits? Not hardly!<\/p>\n

As you know, I\u2019m presently hyper-bullish on cryptocurrencies. Especially a few that are trading for pennies on the dollar.<\/p>\n

You see, in addition to bitcoin, there are over 1,000 cryptocurrencies, all of which represent fresh opportunities for quadruple-digit gains.<\/p>\n

The next opportunity hits on August 28. If you don\u2019t want to miss out, be sure to read our latest research here<\/strong><\/a>.<\/p>\n

Ahead of the tape,<\/p>\n

Louis Basenese
\nChief Investment Strategist, Wall Street Daily<\/em><\/p>\n

The post Friday Charts: The Only Asset Worth Buying on Weekends<\/a> appeared first on Wall Street Daily<\/a>.<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By WallStreetDaily.com It\u2019s Friday in the Wall Street Daily nation. And longtime readers know what that means\u2026 We\u2019re taking a break from our typically long-winded commentary (keep the hallelujahs to yourself) and instead cherry-picking a few graphics to convey some of the week\u2019s most important economic and investing news. Or more simply, we\u2019re going for […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-111168","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=111168"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111168\/revisions"}],"predecessor-version":[{"id":111177,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111168\/revisions\/111177"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=111168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=111168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=111168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}