Let's take a look at Ethereum, and often times I
look at this price range. And we saw Bitcoin make a new low. But it only came down, approximately,
roughly, depending on where you measure, -10% from its previous lows. And its right on par with its
June lows. And then, today, you had news come out, this is labeled November 16th, today…we kind of
heard some rumors for a bit… Gemini, BlockFi, which we knew about BlockFi, and Genesis. So it's
really Gemini and Genesis, is halting withdrawals, new restrictions, FTX Contagion, blah blah blah,
the world is ending. Same old bull 💩 that we hear everyday. We've heard it forever. We actually
heard it for 5 months. But look at Ethereum! June is still the lowest lows for this. Could it
go down lower?! Absolutely! That potential does exist.
But, your'e seeing very strong buying
volume that is coming in, AFTER the whole FTX collapse. And its only down -5% from the bottom.
Ok. From this bottom range right here. After that push up. So its holding June highs. So overall,
again, this is why I talked today, do's, do not run away from crypto right now. This is a great
time to be accumulating cryptos that you believe in. I would love to melt up tomorrow. I would
love that. It's probably not going to happen. I have accepted that. But if you are avoiding
crypto, and you are waiting for "solid price action" by the time you see the bottom, which
may be here in June for many of these altcoins, your'e going to miss 50%, 70% of the run,
whatever that run is.
Ok. So this is not a time to be running away. Overall on the daily
chart, Ethereum, just kind of holding this range. Of course the market is still on edge. When we
hop over here, I want to point out this though. On the 4 hour chart, what are we seeing here on
the oscillator? Higher low, higher low, higher low. ok. Higher low, higher low, higher low. ok.
So we're getting really positive signs there, of a push upwards. We also had that breakout.
There was a bearish pennant forming on bitcoin but it broke up, and its utilizing the top of
that pennant for support.
So, I have to say it, like, I am STILL YOUR PERMA-BULL! If you want some
hopium, this is the page to come to! Ok. This is the page. Now we talked about this, if you didn't
know, it's all over the news, Republicans secure the U.S. House majority; and again, we don't talk
politics on this page, please keep your opinions to yourself on that. Politically speaking. But
I do want to say how this impacts crypto. Ok, and there is 2 big names that come to
this. California republican Mike Garcia won re-election in the states 27th congressional
district giving the party the 218 seats needed for control. Alright. This is a big deal when
it comes to House Committees, specifically, House Financial Services Committee, and the House
Agricultural Committee, which is kind of weird, that has to do with the CFTC, down here.
But
I want to focus on you know, Representative Patrick McHenry. Just as an example. If we look
at, you know, what is this person's background, what have they done in the past for crypto?
Its actually really optimistic to see a name like this going into the financial committees, in
the house, for crypto. And this statement here, this was back in 2021, November, so about a year
ago. Blockchain cryptocurrencies and decentralized finance may still be relatively new, and
evolving, but congress must recognize that these technologies, are some of the most important
innovations to come along in a generation. So, good vibes there in terms of supporting the crypto
industry. But do note that these individuals will not start work until January 3rd. A thousand
things could happen between now and that point, however, the long term future, going into the
next year, looks pretty good.
That there will support. The other representative, Glenn
Thompson, a ranking Republican, also in the past has been supportive of crypto industry.
Again, now that they have control of the house, from a cryptocurrency standpoint, that is a really
good sign. Now, we have talked about corn. You know, I just talked about…you've heard me rant
several times, commodities, cost of production, is down for all of these producers. ok. All of these
different companies.
We gave gasoline the exxon mobile example at the beginning. But where,
corn? Corn is one of the most consumed items, right behind rice. Rice is number 1 most consumed.
And corn, down -20%. Are you paying -20%… at the grocery store? Probably NOT! ok. So again…this
is what drives me over to companies like General Mills. Which utilizes a lot of corn products.
What is the 2nd biggest thing that comes out of corn? Ethanol! And thats why we're going to
take a look at Constellation Brands, which is a major alcohol producer. So these are different
brands, like, Wild Horse Winery, Corona, Modelo, etc. etc. Ok. So a really big name in the
alcohol industry. I know there probably some people excited in the stream for that stock
pick! But General Mills, we talk about these costs of production, commodities coming down.
And General Mills is no different. $4.5 billion, $4.8 billion… this is the number right here,
this is actual revenue that is coming in….$4.7 billion, had a little bit of a tic backwards, but
however considering those prices are coming down, for raw goods like corn, which is not the only
one by any means for this company, it does show that there is going to be a continuation
upwards.
Ok. Hop over here to the weekly chart. And we see that the RSI is still getting higher
highs here on the weekly; so we're not getting any form of bearish divergence. Not to mention,
these types of stocks pay out a dividend. Ok, so here, we see about .54 cents, yea, and it's
very consistent. .51 cents. That is really good. I actually have a friend from the Naval
Academy….I hate to say it…Ive met very few people better at investing than me, he is very
solid. He lives completely off of dividends now. But anyways, dividends are not something
to shrug your shoulders at.
They are much more reliable than the outrageous APY you often
see in crypto. But overall this is a great long term hold, a long term investment. We look at the
trajectory of this thing on the monthly timeframe, even with the pullback, the last couple of
months…what did this do? It pushed upwards. So, overall, General Mills looks really good. Now,
Constellation, we were just talking about it, because corn, produces ethanol, ethanol for
alcoholic products. But when we look over here on the daily chart, same story. We look at
their revenue thats coming through, $2.1 billion, crazy! That much alcohol sold! $2.36 billion,
$2.65 billion. So we can see that sales are up! And people are continuously drinking. That is
a great sign. However, for this stock, unlike General Mills, is looking a bit more down-ish.
We look at the daily chart, your'e getting prices oscillating to the up side, your'e getting
P shaped volume profiles, and the oscillator coming down, I do expect Constellation to actually
come down. Not exactly sure where, I would say the first target somewhere around $229. You can see
that price over here on the right.
So, overall General Mills good long term buy, constellation
I'd wait for this one to come down a bit, Ethereum….holding its June lows…June highs*…
which is really good. And DXY, it continues to run downwards. Which makes me very happy. If this
is your first time joining the stream, remember, that as the value of the dollar shrinks, these
fund managers are going to look for discounted assets, to push into the market. And thus, driving
price UP. A lot of the economic variables have not changed. Now, if you didn't see my video earlier
about Binance, you've seen it all over streams, get off exchanges! ok. And I am in support
of that. I've gotten off of Binance.US, I have some holdings on Kucoin, for my micro-caps
that are over there. I am ok with that, I have accepted the risk that comes along with being
on that exchange.
But, this person over here, Ken, on twitter had a really really good point.
Okay. And we dissected the letter on youtube this morning from CZ, saying that, you know, you
basically shouldn't trade with users funds…no 💩, you shouldn't use leverage…no 💩, you should
increase security consistently, which should be an iterative process. No 💩. Excuse my language. But,
Ken had a really good comment, he had it all right there, should we trust Binance? Should we trust
CZ? In October, hacked for $570 million dollars. Deposited mobile tokens as helium, and losing
another $20 million. Kicked out of Singapore, denied a license to operate. Singapore is one
of the wealthiest countries, if you've never been there. It ranks up there with countries like,
or like, Dubai. ok. A lot of money, and the fact they are getting kicked out means that either 1.
Someone did not get paid off, or 2.
There is some issue that exists there. Thats my speculative
theory. Pumped their trust wallet token during AMA, and dumped on retail to stay afloat. Thats, a
bit of a speculative statement. Heavy ties to FTX. Obviously, they had FTX token in their portfolio,
ok, so he is right in this. So, Ken if you are in this stream, thank you for this tweet, you kind
of wrapped it all up there. Again, I would love to trust Binance.
I would love to trust CZ. But
there are a lot of points, maybe not necessarily. This goes back to that talking point, don't invest
money that your'e not okay with letting it sit off to the side. Because Binance is still in the
cross hairs. Their SAFU fund was advertised for $1 billion. It's actually at $735 million dollars
because of market conditions. And it's filled with things like BUSD, Bitcoin and BNB. It is the
exact same scenario! okay, so keep that in mind..
