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Podcast and Chill #97
Market Outlook; Grayscale's win; A Recession is Coming
Today’s Cheat Sheet -
Support and resistance levels and our daily, weekly and monthly bias on BTC, ETH, OIL, ES, and NQ as well as our favorite altcoins.
“Fundstrat’s Tom Lee joins Dan Nathan, Guy Adami and Danny Moses for the first half of the pod to discuss the stock market not making sense actually makes sense (4:00), the bond market (16:00), why it’s too early to have a 2024 outlook (18:00), Bitcoin (25:00) and sentiment among Fundstrat clients (27:00). After the break, the guys speak with Brady Cobb, CEO/Founder of Sunburn Cannabis, to discuss HHS calling for an easing of restrictions on marijuana (44:30).”
“This week’s emphatic ruling in favor of Grayscale in its suit against the SEC to convert its massive bitcoin trust into an ETF generated plenty of hopium among the bitcoin faithful that a spot bitcoin ETF will get approved soon and open a flood of investment in bitcoin. What are the odds of that truly happening now, though, and if it did, how much additional money could wind up being invested in bitcoin as a result? Also, which companies’ applications would get approved first and how would the various products compete with one other? Bloomberg’s senior ETF analyst Eric Balchunas separates the hype from the reality in answering these questions and more.”
“On today's episode of Forward Guidance, David Rosenberg Founder and President of Rosenberg Research & Associates joins the show to discuss the continuing recessionary pressures he sees building in the economy.
Preparing for a recession within the next six months, David walks through prior Fed tightening cycles, the lagged effects of fiscal stimulus that are now dwindling and the incoming credit crunch that will materialize towards the end of 2023 into 2024.”