Saturday, February 20, 2021 7:06:50 AM
****Saturday Chart Robot***
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Bitcoin Breaks Records As Rates Surge & Reddit Stocks Slump, Santelli Rant Remembered
FRIDAY, FEB 19, 2021 – 16:01
Today is the anniversary of the pre-COVID peak in US equities (2/19/20). Things have gone just a little bit turbo since then…
The big headlines this week were made in the three Bs – Bitcoin, Bonds, & Bullion:
The Good – Bitcoin exploded to new record highs this week, topping $55k…
The Bad – Bonds were battered this week, with the long-end up over 14bps (drastically steepening)…
And The Ugly – Gold Bullion saw its worst week since Thanksgiving, clubbed like a baby seal to 8-month lows as real yields exploded higher (and spot prices triggered a death cross)…
After a hopeful return from the long weekend, US stocks were generally lower on the week. Small Caps ripped back higher today, rescuing themselves from being the laggards on the week as Big Tech tumbled but the Dow clung to gains…
That’s 4 down-days in a row for the S&P 500
Did Small Caps hit their limit relative to big caps once again?
It was an ugly week for the original Reddit short-squeeze stocks as the “Game Stopped” hearing faded away
BUMBL has stumbled…
TSLA lost $800…
VIX was higher on the week, with a mysterious bid hitting every time it dropped below 20…
Perhaps interesting for those calling for the bond ‘rout’ to get ‘rout’-ier – 10Y and 30Y yields have ripped up to the spike low yields from 2016…
Real yields soared this week – with 30Y real yields surging by their most since March 2020…
…back above 0 for the first time since June…
And 10Y real yields started to fly higher…
Which is weighing big time on gold…
The dollar round-tripped on the week to end only marginally higher
Most major cryptos were higher on the week but Ripple lagged…
We already noted Bitcoin, but Ethereum also broke to new record highs, testing up towards $2000 for the first time…
Amid all the carnage in Texas Nat Gas prices roundtripped on the week…
Oil ended the week unchanged after topping $62 (WTI) at its highs…
Gasoline prices ended higher on the week (the 13th weekly rise in the last 16 weeks)…
Silver significantly outperformed gold on the week…
Finally, Bitcoin’s big surge this week has pushed its market cap above $1 trillion… beating TSLA to that mark!
making it the 8th biggest ‘asset’ in the world…
“Rat-poison-squared” indeed!
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~*~Mining & Metals Du Jour~*~ #1 Worldwide
"We Know How To Metal !"
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Bitcoin Breaks Records As Rates Surge & Reddit Stocks Slump, Santelli Rant Remembered
FRIDAY, FEB 19, 2021 – 16:01
Today is the anniversary of the pre-COVID peak in US equities (2/19/20). Things have gone just a little bit turbo since then…
The big headlines this week were made in the three Bs – Bitcoin, Bonds, & Bullion:
The Good – Bitcoin exploded to new record highs this week, topping $55k…
The Bad – Bonds were battered this week, with the long-end up over 14bps (drastically steepening)…
And The Ugly – Gold Bullion saw its worst week since Thanksgiving, clubbed like a baby seal to 8-month lows as real yields exploded higher (and spot prices triggered a death cross)…
After a hopeful return from the long weekend, US stocks were generally lower on the week. Small Caps ripped back higher today, rescuing themselves from being the laggards on the week as Big Tech tumbled but the Dow clung to gains…
That’s 4 down-days in a row for the S&P 500
Did Small Caps hit their limit relative to big caps once again?
It was an ugly week for the original Reddit short-squeeze stocks as the “Game Stopped” hearing faded away
BUMBL has stumbled…
TSLA lost $800…
VIX was higher on the week, with a mysterious bid hitting every time it dropped below 20…
Perhaps interesting for those calling for the bond ‘rout’ to get ‘rout’-ier – 10Y and 30Y yields have ripped up to the spike low yields from 2016…
Real yields soared this week – with 30Y real yields surging by their most since March 2020…
…back above 0 for the first time since June…
And 10Y real yields started to fly higher…
Which is weighing big time on gold…
The dollar round-tripped on the week to end only marginally higher
Most major cryptos were higher on the week but Ripple lagged…
We already noted Bitcoin, but Ethereum also broke to new record highs, testing up towards $2000 for the first time…
Amid all the carnage in Texas Nat Gas prices roundtripped on the week…
Oil ended the week unchanged after topping $62 (WTI) at its highs…
Gasoline prices ended higher on the week (the 13th weekly rise in the last 16 weeks)…
Silver significantly outperformed gold on the week…
Finally, Bitcoin’s big surge this week has pushed its market cap above $1 trillion… beating TSLA to that mark!
making it the 8th biggest ‘asset’ in the world…
“Rat-poison-squared” indeed!
.
.
.
~*~Mining & Metals Du Jour~*~ #1 Worldwide
"We Know How To Metal !"
.
.
.
.................................
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