My strategy at the moment is to try and find stocks that have a high potential on running up in price on any crypto related news. Any sympathy plays and any likely press announcements that show a company might be getting into the Bitcoin or related space. I am generally horrible at playing these ‘hot’ sectors and I usually rely on social media etc. to find the best Stock plays.
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These guys have some great articles and a webinar tonight about how to best trade this Crypto currency explosion. I will be attending the webinar for sure!
In the meantime, I bought a couple of stocks this morning that I believe are good swing trades for the next week or so. One has a potential bitcoin related Catalyst, so we shall see!
$LC – Lending club is a potential buy this week (I took a small position in this stock this morning). There are several reasons for my buy. The Jackson Square Partners group increased their position size in the company this week by over $9MM. This is a pretty significant indication of a bullish outlook for this company. The $LC chart (below) is just coming out of being oversold before an investor conference where they’re rumored to announce a bitcoin / blockchain strategy. Could this be why Jackson Square Partners significantly increased their position size? With these types of plays I always like to keep a tight stop loss – it is always possible that the Bitcoin connection may just smoke and mirrors. Such is trading stocks…..If this one moves on Bitcoin news, the upside will be HUGE.
$CASI – This a nice breakout play that I bought in the high $3’s this morning. There is a nice catalyst event this week (Breast cancer conference data presentation on Dec 7th). This catalyst could drive the stock above the recent high of $4.84 triggering a clean breakout into the $5’s as the data approaches. Thanks to this millionaire trader for alerting me to these plays today.
So thats it! Good luck trading this holiday season! Make sure you don’t just take my word for it on these stocks – I am usually horribly wrong :).
P.S. If you like these ideas, you can sign-up for free email alerts with these types of trading alerts from millionaire traders! I love the alerts that I get and pass on some of the ones that I play to you guys.
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