Bakes' Takes 2/10/21 1) Won’t Get Fooled Again, no more GME’s 2) Yes, more bitcoin 3) More uranium

Bakes’ Takes Podcast Show Notes Wednesday  

February 10, 2021

 

:22 1) Won’t Get Fooled Again, no more GME’s

2) Yes, more bitcoin

3) Yes, more uranium

 

:33 Why I do this—Bobby, Jack, please listen in.

 

‘87 crash, journey, technical analysis first, fundamentals second, not right or wrong, just works for me. read WSJ, Barron’s Economist, listen to podcasts, devour relevant newsletters, monitor what Google alerts bring. Point you to them, but if you don’t want to do that, please know that I’ll do it for you and I eat home cooking, I have no conflicts.

 

1:45 Not investment advice. Please conduct, and share, your own due diligence.

 

Bakes’ Take—Fan Mail! Calls! Questions! Mike!

 

2:03 Mike--GME

 

2:33 $60 or so support

 

3:00 $483, $413—Resistance vs. $325 close

 

3:20 $250, $150, $60 support, $15 200 dma

 

3:30 Bakes’ Take—last week, Not going to bury the lead—sell your original investment, let rest of winner run, watch trades/closes below and above these levels, this week $325 to $50 pretty good call

 

4:24 $250, $212, $150, $60 resistance now, watch these levels, is stalls at $60 likely, SELL, could fill gap 150-212 but doubt it

 

5:06 Fundamentals, Valuations don’t matter for now

 

5:15 AMC, BB very similar. Please share this with your RH or RR friends, send your other stocks/ideas and I will offer strategy for them as well. Please stay tuned.

 

5:40 Bakes’ Take—No more GME’s, won’t catch a Melvin for a while, weekend in Greenwich

 

6:47 SIL—not buying it, literally and figuratively, discount wallstreetbets bullshit heavily!

 

8:44 $20.26 weekly high resistance

 

9:08 $7.71 support

 

9:43 $20 to $5.50, close to 80%, pretty good call

 

10:01 Michael Burry, AMC not another GME

 

10:45 Bakes’ Take—last week, Sell original investment, let ride if break above $20.26, close more important than intraday, below $7.71 likely back down to $5, this week we’re here, pretty good call

 

11:12 $28.77 resistance on monthly chart, doubt it gets there, $14.10 prior highs too

 

11:25 $9.69 support, prior high daily, close below a problem, parabolas usually correct 80%+

 

11:41 Bakes’ Take—Sell original investment, let ride if break above $28.77, close more important than intraday, below $9.69 likely back down to $6.51 or lower

 

12:06 $28 to $13.43, roughly cut in half, above support, still pretty good call

 

12:23 If you have RH or RR friends, please share this, send your stocks to BT, will give best view of locking in profits!

 

12:38 Kristin from NH—Bitcoin, yes or no, bought $2k, should I buy more? Yes, but be ready for big down days, said to Jack, first paper dollar

 

13:39 Volume looks good, $48 lid for now?

 

14:04 Boston Globe-Tesla buys $1.5 billion in Bitcoin, will accept as payment soon

 

15:11 URNM!

 

15:45 Murph-still like uranium?, hell, yes! Inning 2 imo

 

16:49 Bakes’ Takes—My Themes/Groups

 

15.3% ytd, blockchain etf new! Already up 21%+, still bullish on bitcoin, cannabis, uranium, esports/gaming, copper, agriculture, 15% dry powder looking for 2 new ideas

 

17:10 last week--Charlie—thus far I haven’t found Levi’s of bitcoin gold rush. PayPal Square etc. small % of rev’s

 

Found after last podcast

 

Amplify Transformational Data/BLOK--Blockchain in Google Alerts too

 

18:55 Bakes’ Take—Charts/Tweets of the Week!

 

SPY--NH’s, but up volume poor, all indices

 

QQQ--NH’s, volume lousy, watch out

 

IWM--Same

 

Bakes’ Take—Major indices seem tired despite new highs, watch out

Please also subscribe to my Bakes’ Takes YouTube Channel, the audio is the same but the charts that I reference are on the screen. Follow us on Twitter @BakesTakes_ and other social media. Please, please use your voice memo app, tape your question(s) and email to bakes@bakestakespodcast.com or write if you prefer. I will also keep you anonymous is you’d like.   Thank you for listening, Mike Wilson is my producer.   Have a great week. Bakes   21 :36 https://www.youtube.com/watch?v=wzdNrxd76T4 Van Halen, Won’t Get Fooled Again   22:05 Much needed levity—Eugene Mirman https://www.youtube.com/watch?v=q6bJiF80-Eg&t=1s