D&D Note (3.7.2018) ~ Crypto Falls on SEC Regulation ~

D&D Note (3.7.2018) ~ Crypto Falls on SEC Regulation ~

Bitcoin sank below $10,000 today on news that the SEC is going to require crypto exchanges to register with the Securities and Exchange Commission. Crypto currencies and platforms across the spectrum all fell as well on the news.

D&D sees this as actually a good thing bringing more regulation to the new asset class. This also highlights why we only use the Coinbase.com exchange as they already work with the IRS, are insured, and do their own due diligence on what coins they list.

Ethereum is currently the only crypto that D&D owns, however if XRP gets added to the Coinbase exchange that would be another we will look to invest in.

Markets fell in the morning on the back of Gary Cohn’s resignation last night. A rally was sparked midday when news that carve outs could be coming to Canada and Mexico in relation to the new Tariff’s.

A statement today by the White House says this week the POTUS will sign the new tariff’s into effect.

For the most part markets are waiting in anticipation of Fridays job report and if we do or do not see more wage growth.

D&D placed open orders last night to sell small parts of our positions in APHQF and TWMJF. This was simply profit taking on our overweight holdings in both. In trading yesterday both stocks reached key levels we identified as prices to take profits based on our cost basis.

After a good recent run Pot Stocks took a healthy breather today letting some of the air out of the rally.

D&D movers:
– FB up 2.19%
– TSM up 1.52%
– WNS up 1.40%
– GOOG up 1.33%

– IMLFF down -21.54%
– TWMJF down -4.88%
– EMHTF down -4.13%
– APHQF down -3.66%

Indexes
– DOW down -0.33%
– NASDAQ up 0.33%
– S&P down -0.05%

Sector Movers:
– Technology up 0.55%
– Real Estate up 0.52%
– Health up 0.50%

– Consumer Staples down -0.93%
– Energy down -0.83%
– Consumer Discretionary down -0.74%

Notes
– US 2-YR 2.25% (up 0.004)
– US 10-YR 2.879% (up 0.002)
– US 30-YR 3.147% (up 0.011)

Volatility
– VIX 17.84 (down -2.83%)

Crypto (1:00 PST)
– BTC $9,777.75
– ETH $740.48
– BCH $1,075.61
– LTC $181.49

Metals
– Gold $1,326.40 down -0.66%
– Silver $16.505 down -1.66%
– Copper $3.136 down -0.73%

Energy
– Oil $61.39 down -1.93%
– Brent $64.58 down -1.84%
– Nat Gas $2.785 up 1.31%