TG Watkins - Technical Analysis & Trading Strategies: Market Pullback, Bitcoin Miners, Nat Gas, Uranium
TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot website joins us to share his outlook for this current market pullback, as well as individual sectors like Bitcoin mining stocks, natural gas and uranium.
We delve into the persistent market weakness over the past six to seven weeks, analyze the potential for a market bounce, and touch on key economic reports like PPI and CPI. TG shares insights on managing current market positions, profit-taking strategies, and key levels in the crypto space, including Bitcoin and crypto miners. We also explore trends in nat gas and uranium, emphasizing the significance of moving averages in TG's trading strategy.
We kick off with an analysis of the persistent pullback in the broad markets, touching on the daily fluctuations and the six to seven weeks of market weakness. TG explains his expectations for a potential market bounce and highlights key economic indicators like PPI and CPI that could influence market trends. We also dive into TG's strategy for managing current positions, discussing profit-taking on stocks like Tesla and using stop-loss orders effectively.
The discussion then shifts to cryptocurrencies, with a focus on Bitcoin and various crypto miners. TG shares his observations on key levels for Bitcoin and names like MSTR.
We also examine the volatile Nat Gas market, noting trends influenced by weather and key moving averages. TG outlines his cautious but optimistic stance on Nat Gas as it shows signs of potential upward movement.
Next up is the uranium sector, comparing it to the trends seen in Bitcoin and crypto miners.
