Weekly Market Rollup, Week #4 Nov 2021
Too Many Satellites? $ARKX, Black Friday Market 👎🏾, $Pfizer 👍🏼, 🇯🇵 Up Defence Budget fearing 🇨🇳&🇰🇵, 🇻🇳 Billionaires, $VNM, 🇳🇿 rate hike, market 📉, $Sand rocket 🚀, $Uber + Weed 🤤, FA death? Poor = expensive
What's is up this week?
I'm still considering changing my newsletter title. "weekly market rollup" sounds like I'm just another news reporter. I started this newsletter to give market insight and valuable info on the market I discovered in the past several months of writing; I sounded more like a Bloomberg reporter. 🤣
I started intermittence fasting, + I slept a bit earlier each day, 12:30 am instead of 2:30 am. - trying to reorganize my mind 30's life. 😅
I also watch a Netflix series, "Russian dolls," where the leading actress keeps dying and reincarnating into the same world where she finally realizes she needs to complete a task before her soul is set free from "purgatory."
Well, life is short to keep doing the same thing expecting a different outcome. Something has to change within. Ok, enough of the philosophy, let's start.
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Why do the nights grow less dark?: There are already 1,584 satellites circling the Earth; within a few years, it wants to have enough shells to make use of 40,000.
The rise of internet connectivity brings billions of people closer at the expense of our sky.
Soon, your kids will say, wow, there are so many stars in the sky, but the fact is, those are satellites on Earth's low orbit providing internet connection to your Smart device such as VR, AR, smartphone, etc.
One concern is satellite Collisions. They do not just wreck the satellites involved: the debris they create puts other satellites at higher risk, too.
$ARKX could be a good bet if you are into a space-related technology company. It's been trading at the lower end of the trading range.
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Christmas is coming, so does a new covid-19 variant. WHO labeled a new **covid-19 variant**, first identified in South Africa, a "variant of concern" and named it Omicron suggests that it carries a greater risk of reinfection than other variants
While Western Europe Case is rising, so does Pfizer despite the US equity market sell-off on Black Friday.
I had an early position (Green box) on this stock.
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Japan on guard: approved $6.8bn of extra **defense spending** in response to China's and North Korea's growing power thirst in East Asia.
Vietnam paints a different story. As early as 2012 was a land of no billionaire (in USD). Today there are six billionaires, according to Forbes. A surging stock market means the list is likely to get longer.
I feel Vietnam has huge investment potential. They have the largest working-class population distribution, which is a good indication of country productivity—then couple with a close bonding between the government & Vietnam tycoon. The government welcomed back this so-called "patriotic capital" and gave them special treatment.
$VNM - Vietnam ETF had rallied 19% YTD. In terms of Technical analysis point of view. It's forming a possible double top (DT). A converging triangle also suggests a possible Elliott Wave 4 and should be making a final leg up before a major correction.
I personally will look for a price to clear $21 resistance before deciding to buy this ETF.
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New Zealand's central bank raised its benchmark interest rate by a quarter of a percentage point to 0.75%. It was the second increase in as many months, with predictions of more to come amid a buoyant economy and rocketing housing market.
What happens when the central bank raises the interest rate? Stock market fall.
Both red arrows indicate the interest rate hike by NZ central bank.
This will be the result of any stock market (including the US) if the central bank decides to raise the interest rate.
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US Market Black Friday: It's a season of giving also bring us a season of sales in the equity market. Nasdaq, Dow & S&P down -2.23%, 2.53% & -2.27% respectably on black Friday. The new Omicron Variant could be the reason for the recent sell-off.
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Crude Oil: Several countries join hands to keep lower oil prices.
Soaring petrol prices, the White House announced that it would intervene in **oil markets** by releasing 50m barrels from America's strategic oil reserve in the hope that the additional supply will cause prices to drop.
Britain, India, Japan, and South Korea are also releasing oil, and China "may do more as well."
So this happens—a single day 11% drop on Friday trading session
Technical: Crude Oil is "always in short" now.
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Where is my Weed? Uber got into the growing business of cannabis. Customers can order the weed and pick it up from a dispensary within the hour. Orders are placed over the Uber Eats App.
Technical: At the moment, I am still not sure the bear flat wedge marked (w) is completed. I had my entry at the green on the surprise bull bar only to exit a few weeks later over the inside bar (IB) - cautioning over al lower high, which led to a more complex correction. I will not jump into Uber ATM.
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Is Fundamental Analysis Sucks?
This morning I had a thought process going through my head which led me to write this;
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Sandbox: $Sand token Is up 297% in 28 days because the Alpha version of the game is to be released from November 29th to December 20th.
Imagine buying $2K worth of $Sand and turning it into $7940 in less than a month.
p/s: for those who don't know what sandbox is, it's actually a decentralized Metaverse game built on the Etherium Blockchain. Something like Minecraft & Roblox.
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On the other side of the spectrum, you had cryptocurrencies entering into the bear market territory.
Technical:
Bitcoin: strong bull breakout, Fail H2. expecting the 2nd leg down
Ethereum: L2 bear flat. The projected measure moved down to $3650 territory.
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El Salvador's president, Nayib Bukele, announced that the country would build a circular "bitcoin city" at the base of the Conchagua volcano. The mountain's geothermal energy will be used to power bitcoin mining.
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The boots theory of socio-economic unfairness. Why being poor is expensive.
The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. A really good pair of boots cost $50. But an affordable pair of boots that last for a season or two before it leaked like hell cost about $10.
Good boots last for many years. A man who could afford $50 a pair of boots still keep his feet dry in 10 years, while a poor man who could only afford cheap boots would have to spend hundreds of dollars on boots over the same period, yet still have wet feet.
—the end—
Until next week.