Scroll to top

Morning Coffee: Bearish for Stocks, Bullish for Bitcoin

No comments

Stocks and Securities

U.S. stocks futures were trading in a tight range Tuesday, signalling another day of moves in and out of positive territory as investors wait for more earnings reports.

Dow Industrial AverageS&P 500Nasdaq 100Russell 2000












Shares in Netflix Inc. (NFLX) have declined sharply ahead of the opening bell after the streaming company reported disappointing quarterly results late Monday. Yesterday’s Morning Coffee advised our readers to sell into any strength during the session.

Revenue came in at $3.91B despite a $3.93B forecast, and subscriber additions came in at $5.1M despite a $6.2M forecast. An EPS of $0.85/share included a rise largely due to currency appreciation, so you could make the case that EPS was a miss as well. Excluding the FX gain EPS came in at $0.66/share despite a $0.79/share forecast. Netflix guided Q3 EPS revenue and subscribers just below the Street’s expectations.

Netflix stock was ‘priced to perfection’ and Wall Street analysts warned about risk to Q2 subscriber estimates in recent sessions. The stock is down 12{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} in pre-market testing and it’s 20-week moving average is near $343. We would re-enter the stock just below that average.


Blockchain and Cryptocurrency

Bitcoin (BTC) and Ethereum (ETH) both held quite well overnight, up about 1.76{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} and down just 0.46{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15}, respectively. Market capitalization increased from $264B USD to $269B USD which is a 1.8{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} increase in just 24 hours. This 24 hour volume of $13.8B is increased compared to Monday. BTC dominance of 42.7{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} is slightly higher compared to yesterday.

Bitcoin price - BTC/USD chartEthereum (ETH) chart - ETH/USD







Read our technical analysis on Bitcoin (BTC) and Ethereum (ETH) – the general consensus from analysts still seems to be very bullish, however, crypto continues to fail to gain traction due to lack of volume.

There have been a lot of positive developments in the cryptocurrency space in the past 24hours. There appears to be some significant news, in addition what we discussed yesterday, that continues to add to the bullish sentiment and momentum for Bitcoin (BTC) and cryptocurrency / blockchain space.


Stocks on the Radar

Our readers saved 13{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} on Netflix Inc. (NFLX) – we closed NFLX up 3.5{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} since our suggestion, and we plan to re-enter at a later date, and made 13{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} on our cryptocurrency pick NEO. Additionally, Amazon Inc. (AMZN) up about 1{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} and more than 6{d745bfe1f0a8cfaf7934723e820c1a1fdf298af2e9634a8abb073c3029806a15} since our suggestion. Below is our today’s list of cryptocurrency and stocks to buy or to invest in:


Author avatar

Dr. Tiam Feridooni

Written by: Dr. Tiam Feridooni MD, PhD, BSc Dr. Feridooni, graduated from Dalhousie Medical School in May, 2018. Prior to enrolling in medical school, he completed his Bachelor of Science with Honours in 2010 in Biochemistry. He then obtained his PhD at Dalhousie University in Pharmacology in 2014, with a focus around regenerative medicine and stem cell transplantation. Dr. Feridooni has been published numerous high impact journals and has also co-authored a few books.

Related posts