🤑 Is This the Best Sign of a Market Peak? 🤑

Good morning. When Coinbase (COIN) went public in April, it coincided with a high price in Bitcoin. It’s the monthly jobs numbers today and they’re not going to be pretty and will be possibly the tip of the iceberg as we head into May. [Trading Tips] Good morning. When Coinbase (COIN) went public in April, it coincided with a high price in Bitcoin. When AOL and Time Warner merged in the late 1990s, it heralded the end to the tech bubble of the time. In 2007, real estate billionaire Sam Zell sold off his holdings, a year before the biggest real estate crash in US history. There’s something about a big merger or IPO that could be a sign of a market making its final top before having a bear market. This time around, the harbinger might be Robinhood. The brokerage firm just filed its IPO paperwork. And just like Coinbase earlier this year, company insiders aren’t looking at a lockup period. Instead, they’ll be allowed to sell shares on day 1. At least when the tech bubble burst, traders could get in ahead of the lockup expiration for the best profits on the downside. It may prove to be a market peak, but only in hindsight will that be fully known. It’s still a good sign to stay cautious, and wait until insiders are done selling before buying shares if they suit your taste. Now here's the rest of the news: Sponsored Content [Biden About to Unleash Bitcoin Crackdown?]( Evidence is growing that the U.S. government is conspiring to take down Bitcoin. The signs are everywhere. The CEO of Kraken, a top crypto exchange, warns a “crackdown” is coming. And if you have a bank account, collect Social Security or get a paycheck, it is going to impact you, even if you don’t own Bitcoin! [Urgent briefing has the details.]( MARKETS DOW 34,787.93 +0.45% S&P 4,352.41 +0.75% NASDAQ 14.639.33 +0.81% *As of market close • Stocks moved higher into the holiday weekend, with the S&P 500 again closing at a record high. • Oil rose 0.1 percent, closing at $75.30 per barrel. • Gold rallied 0.6 percent, last trading at $1,788 per ounce. • Cryptocurrencies traded flat, with Bitcoin at $33,320 at the stock market close. Today’s TOP TIPS [Continued Upside in Value Stocks Could Reward Investors with Some Fizz From this Flat Performer]( The first half of the year saw a slowdown in tech stocks, and better relative strength in value names. While growth has started to rise in recent sessions, investors who continue to invest in both growth and value can do well in this market. Some of the best values may be in value names that have now underperformed over the past year. Any positive surprises in such a company may result in a jump higher in shares with low downside risk. » [FULL STORY]( [Insider Trading Report: Bright Health Group (BHG)]( Peter Sonsini, a major owner at Bright Health Group (BHG), has recently picked up 1,944,444 shares. The buy came to a total price of $35 million, and represents a 1.1 percent increase in the owner’s holdings. The buy represents the sole insider activity since the healthcare plan provider went public in late June. Company insiders own an estimated 4 percent of company shares based on initial filings. » [FULL STORY]( [Unusual Options Activity: Halliburton Company (HAL)]( Shares of oil and gas equipment giant Halliburton Company (HAL) have been trending higher with the price of oil over the past few months. One trader sees the potential for a big jump higher in the coming months. That’s based on the September $28 calls. Expiring in 74 days, over 46,640 contracts recently traded, a massive 259-fold jump in volume from the prior open interest of 180 contracts. » [FULL STORY]( IN OTHER NEWS • [130 Countries Agree to Global Minimum Tax]( Over 130 countries have agreed to an outlined global minimum tax rate of at least 15 percent, which would be designed to reduce tax avoidance by international companies. Currently, a company domiciled in one country could create a division in one with a lower tax rate and funnel the bulk of their profits there. The OECD estimates that this reduces revenues for governments by $100 to $240 billion per year • [Robinhood IPO Documents Reveal Company Stats]( From the number of customers to the number of current class action lawsuits under way, there’s something for bulls and bears in the soon-to-go-public brokerage firm Robinhood. The company has been popular with retail traders thanks to a mix of stocks and cryptocurrencies (of which Dogecoin accounted for nearly a third of crypto revenues). The firm fell out of favor as it suspended trading in meme stocks at the start of the year. • [Car Sales Rise Amidst Chip Shortage]( US auto sales soared over the past year, with companies like GM (GM) reporting a 40 percent rise in sales and a 73 percent jump for Toyota (TM) among others. Strong demand and a tight supply thanks to a shortage of semiconductor chips for autos has pushed prices higher, and they’ll likely stay that way for some time. • [Virgin Galactic Pulls Ahead in Space Tourism Race]( Space tourism company Virgin Galactic (SPCE) has announced its next test flight will be on July 11, and will carry company founder Richard Branson. That beats out the planned launch of Blue Origin, containing Jeff Bezos, on July 20. Both firms are looking at commercial spaceflights later in the year. • [Twitter Mulls New Features]( Nope, we’re still waiting on that “edit” feature. But Twitter (TWTR) is looking at adding functions that allow for tweeting only to friends, or under different personas, as ways of increasing user engagement on the site. This adds on to a feature added last year that allows an original poster to choose who can reply to their tweet. S&P 500 MOVERS TOP ORCL 2.867% PAYC 2.749% HLT 2.581% KMX 2.481% FTNT 2.352% BOTTOM IBM 4.645% DVN 2.437% BIDU 3.874% MRO 2.258% PENN 2.186% Quote of the Day The likelihood is that the combination of excess savings in both the housing sector and in the corporate sector, plus the fact that there will be more stimulus coming down the line, will keep people fairly optimistic about growth. - David Roche, President of Independent Strategy, on why the stock market will likely trend higher in the second half of the year, even as some conditions make the valuation reminiscent of a bubble. Sponsored Content [Biden About to Unleash Bitcoin Crackdown?]( Evidence is growing that the U.S. government is conspiring to take down Bitcoin. The signs are everywhere. The CEO of Kraken, a top crypto exchange, warns a “crackdown” is coming. And if you have a bank account, collect Social Security or get a paycheck, it is going to impact you, even if you don’t own Bitcoin! 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