BRYN trade ideas
Earnings watch 8/8Earnings watch 8/8:
BRK.B
PLTR
D
GOLD
BNTX
NVAX
BLNK
APPS
MARA
CLOV
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
www.tradingview.com
Warren Buffet : Why You Should Never Invest In Bitcoin.Warren Buffett has been very vocal about Bitcoin with his opinions, predictions, and what he believes will be the logical outcome of Bitcoin and the cryptocurrency market over the long-term.
Let’s look at what Buffett has said about Bitcoin over the past 8 years.
Warren Buffett Bitcoin Opinion
“It’s ingenious and blockchain is important but Bitcoin has no unique value at all, it doesn’t produce anything. You can stare at it all day and no little Bitcoins come our or anything like that. It’s a delusion basically.” — “It’s ingenious and blockchain is important but Bitcoin has no unique value at all, it doesn’t produce anything. You can stare at it all day and no little Bitcoins come our or anything like that. It’s a delusion basically.” — Warren Buffett on CNBC, February 2019 CNBC, February 2019
“If you and I buy various cryptocurrencies, they’re not going to multiply. There are not going to be a bunch of rabbits sitting there in front of us. They’re just gonna sit there. And I gotta hope next time you get more excited after I’ve bought if from you and then I’ll get more excited and buy it from you. We could sit in the house by ourselves and we could keep running up the price between us. But at the end of the time there’s one Bitcoin sitting there and now we’ve gotta find somebody else. They come to an end.” — Warren Buffett on CNBC, May 2018
“In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I’d be glad to do it, but I would never short a dime’s worth.” — Warren Buffett on CNBC, January 2018
“A rising price does create more buyers and people think ‘I’ve gotta get in on this’ and it’s better if they don’t understand it. If you don’t understand it you get much more excited than if you understand it.” — Warren Buffett on CNBC, May 2018
“Probably rat poison squared.” — Warren Buffett on Fox Business interview at 2018 meeting
“It will feed on itself for a while and sometimes for a long while and sometimes to extraordinary numbers. But they come to bad endings and cryptocurrencies will come to bad endings.” — Warren Buffett discussing speculative bubbles at Berkshire’s shareholder meeting in 2018.
“It draws in a lot of charlatans. It’s something where people who are of less than stellar character see an opportunity to clip people who are trying to get rich because their neighbor’s getting rich buying this stuff that neither one of them understands. It will come to a bad ending.” — Warren Buffett at the 2018 shareholder meeting
Why is Warren Buffett against Bitcoin?
“It’s a mirage basically. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money just because they can transmit money? I hope Bitcoin becomes a better way of doing it but you can replicate it a bunch of different ways. The idea that it has some huge intrinsic value is just a joke in my view.” — Warren Buffett on CNBC, March 2014.
“It’s not a currency. It does not meet the test of a currency. I wouldn’t be surprised if it’s not around in 10 or 20 years. It is not a durable means of exchange, it’s not a store of value. It’s been a very speculative kind of Buck Rogers-type thing and people buy and sell them because they hope they go up or down just like they did with tulip bulbs a long time ago.” — Warren Buffett on CNBC, March 2014
“If you told me you own all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it because what would I do with it?” he asked. “I’d have to sell it back to you one way or another. It isn’t going to do anything.” — Warren Buffett
“Cryptocurrencies basically have no value and they don’t produce anything. They don’t reproduce, they can’t mail you a check, they can’t do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person’s got the problem. In terms of value: zero.” — Warren Buffett on CNBC, February 2020
How much Bitcoin does Warren Buffet own?
Warren Buffett does not own any Bitcoin in 2022 and has never owned any. Buffett’s favorite asset classes are owning cash flowing businesses, quality publicly traded stocks at a good entry price, and farmland.
Warren Buffett on cryptocurrencies: “We don’t own any, we’re not short any. We’ll never have a position in them.” on CNBC, January 2018
“I get in enough trouble with things I think I know something about. Why in the world should I take a long or short position in something I don’t know anything about? We don’t have to know what cocoa beans are gonna do, or cryptocurrencies, we just have to focus on eight or 10 stocks.”— Warren Buffett on CNBC, January 2018
“You’re going to be a lot better off owning productive assets over the next 50 years than you will be owning pieces of paper or Bitcoin.” —Warren Buffett on CNBC, March 2014
He believes for most people the best thing they can do is buy and hold the S&P 500 index for the long-term.
“I recommend the S&P 500 index fund and have for a long, long time to people.” – Warren Buffett (May 2021)
For people that want to own individual stocks Buffett says: “All there is to investing is picking good stocks at good times and staying with them as long as they remain good companies.”
“If you said, for a 1% interest in all the farmland in the United States, pay our group $25 billion, I’ll write you a check this afternoon,” – Warren Buffett
Warren Buffett has owned farmland since his first purchase at a young age . He bought his first farm in Nebraska for around $10,000 before he entered high school with money earned from running a paper route.
“I don’t have any Bitcoin. I don’t own any cryptocurrency, I never will. I may start a Warren currency, maybe I can create one and say there’s only going to be 21 million of them. You can have it after I die but you can’t do anything with it except sell it to somebody else.” — Warren Buffett on CNBC, February 2020
source Steve Burns
Warren. Never bet against USA resilience.The way I see it in the moment is to zoom out see what's going on. Strong bullish channel and big support around 270$ - 272$
Cash is king at the moment and Mr. Buffet is full of it.
Metrics are long. Oversold. Risk is really low. Bougth 1000 shares at 277$. There's a nice run to make to 315-320 area.
Price to Earnings Ratio (TTM)7.4911
Price to Revenue Ratio (TTM)2.1821
Price to Book (FY)1.2192
Price to Sales (FY)2.2848
BRK.B - Berkshire HathawayBerkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. The company wholly owns GEICO, Duracell, Dairy Queen, BNSF Railway, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Shaw Industries, Pampered Chef, Forest River, and NetJets, and also owns 38.6% of Pilot Flying J; and significant minority holdings in public companies Kraft Heinz Company (26.7%), American Express (18.8%), Bank of America (11.9%), The Coca-Cola Company (9.32%), and Apple (5.56%).
From 2016, the company acquired large holdings in the major US airlines United Airlines, Delta Air Lines, Southwest Airlines, and American Airlines, but these were sold early in 2020 in the wake of the COVID-19 pandemic. Berkshire Hathaway has averaged an annual growth in book value of 19.0% to its shareholders since 1965 (compared to 9.7% from the S&P 500 with dividends included for the same period), while employing large amounts of capital, and minimal debt.
BRK.B may continue lower, like Warren worried fewer clients during this time of the Pandemic.
BRK.B is oversold?BRK.B 2-year uptrend channel was broken last week. As you can see BRK.B peaked in mid-March 2022 with a classic blow off top pattern. Since BRK.B April 1st Friday close of $351.88, it closed a whopping -$83.80 or -24% in that time frame at $268.08 last Friday 6/17. I'm posting this as bullish because BRK.B closed at March 2021 levels area last week in a possible horizontal support zone. So I will be planning a short / medium term bounce long entry at some point this week *maybe. 7/1 expiry otm call on radar.
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
www.tradingview.com
BRK to pre 2020 highs >>$220Weekly chart is showing negative divergence with PPO, indicates slowdown in the trend, meaning price was still moving up but at the slower momentum. It’s a decent indicator of trend reversal. There is small possibility for another ATH (only bc Buffett invested in energy sector and I am not sure when exactly energy will peak - in the next few months at most), but most likely price to start making lower lows / lower highs. Right around $220 price level security traded for 2 years pre pandemic. It would be most obvious target on the downside (not that it can’t go lower).
I believe that essentially the whole market is also about to take big hit. Most major sectors already down a bit, only energy sector is still in the bull market, similarly as in 2008. But that should end soon as well.
As a side note, I was hoping that AAPL (large component of BRK.B) would make a run up before collapse in equities, but looks like that will not happen and market is just going to make lower lows until something blows and fed reverses their tightening policy.
Timing: idk when low will be reached, but by year end we should see significant downside action to develop. Essentially it’s a terrible risk/reward proposition to be long at current time imho.
Berkshire Hathaway - Potential 20% Upside?Is the most famous investor in the modern history and his international conglomerate able to update historic highs before US economy spirals into recession?
Let's look at it in more detail.
Fundamental indicators:
Revenue and Profits - demonstrated consistent long-term earnings growth over the past 10 years except 2020
Profit margin - not consistent and varies from 10% to 20%, 2021 was with the highest 28%
P/E - 8.4x which is considerably lower than the current S&P500 ratio
Liabilities - no problems with debt
Technical Analysis (Elliott Waves):
Following the correction of March 2020 shares of Berkshire Hathaway have enjoyed similar growth cycle as S&P500 with 120% gains
This bull run was formed by an impulse where waves 1 to 4 have been completed and wave 5 is currently developing
Wave 4 is clearly identifiable as a lengthy and flat Running Correction that lasted between May and November 2021
The final wave of the impulse is quite choppy with lots of crossings which often indicates the development of an Ending Diagonal pattern with a structure of 3-3-3-3-3
If this is the case then waves 1 to 3 have been established and wave 4 is in the process of completion
Once this zigzag-like correction is over we can observe another zigzag to update the historic highs and potential gains for investors of 20%
What do you think about Berkshire Hathaway and its short term prospects?
Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves.
Thanks
Berkshire Hathaway - Fall To Continue?Given the latest sell off it looks like the most famous investment conglomerate Berkshire Hathaway is less likely to reach its former highs in the near future.
If so, how deep it may fall?
Fundamental indicators:
Revenue and Profits - demonstrated consistent long-term earnings growth over the past 10 years except 2020
Profit margin - not consistent and varies from 10% to 20%, 2021 was with the highest 28%
P/E - 8.4x which is considerably lower than the current S&P500 ratio
Liabilities - no problems with debt
Technical Analysis (Elliott Waves):
Following the sharp drop since March 2022 it is very likely that impulse wave that was developing since March 2020 has completed with an Ending Diagonal as fifth wave
If so, then we are observing the development of a new global correction which may be quite deep, in the range of $160-$240, and lengthy depending on the market sentiment and materialisation of recession risks
Currently we can see formation of Double Zig-Zag, the first one has completed in wave W. Second zig-zag is in progress with fully formed wave A, wave B to follow to the upside into the region of $325-$340
This correction wave X may last until the next earnings report planned for the beginning of August and if it is not going to reach market expectations the shares may drop further
Although fundamentals are quite good at this stage of the market cycle, Berkshire is doing reshuffle of its portfolio which may impact these fundamental indicators. Let's see what the next report is going to tell us.
What do you think about Berkshire Hathaway and its short term prospects?
Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves .
Thanks
PS this is an update to the previous idea where the scenario suggested another run to update the highs