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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (20049)	9/28/2017 8:57:50 AM
From: John Pitera	4 Recommendations Recommended By Fintas longz richardred sixty2nds Read Replies (1) \| Respond to of 33421

Tony Robbins, who is not a market expert... he is a salesman.... although he is a very smart perceptive guy, he is not the guy I would go to to tell me which of three companies has the best discretionary free cash flow. Nor would I look to him to for ideas on market seasonality, momentum price divergences, time cycles..... or to have him look at a stock or a market and have him start with a 40 year quarterly chart, a 20 year monthly chart, a 10 and and 5 year weekly chart and a 1,3,5 year daily chart with indicators that I have found helpful. Since he was on CNBC on fast money last night...... he was interviewed about the proliferation of E sports and the veritable fortunes that are being made in this new industry and we are only in the first inning of the ESports era.... the top global ESports teams will one day rival the market valuation of the most valuable Football and Baseball franchises mark my word on that ........ so Tony Robbins who was on talking about his investment in Esports where he is teamed up with Peter Gruber who owns the Sacramento BBall franchise along side of a group of investors including Robbins... and listening to Peter Gruber speak was the most invigorating talk that I have heard this quarter on all of the money to be made in E sports franchises and then the vendors who sell the merchandise, the concessions and all of the ancillary products that go along with the Esports. the cnbc anchor then asks Tony Robbins about Bitcoin, which is not in his wheel house and he really does not have an opinion.... and his response reflected it...... he said it may go up and it may go down..... If you like take a portion of your money and put it into Bitcoin and consider it like going to Vegas and placing some bets .... some will work out and many will not... I actually thought it was possibly an ill conceived question to ask Robbins regarding the Cryptocurrencies and Bitcoin in specific. John.

To: Elroy who wrote (20049)	9/28/2017 3:04:52 PM
From: The Ox	1 Recommendation Recommended By John Pitera Read Replies (1) \| Respond to of 33421

More rhetoric-er, news: Message 31282656 marketwatch.com Bitcoin is ‘more than just a fad,’ says Morgan Stanley chief Published: Sept 27, 2017 3:36 p.m. ET By WILLIAMWATTS DEPUTY MARKETS EDITOR ‘I haven’t invested in it. I’ve talked to a lot of people who have. It’s obviously highly speculative but it’s not something that’s inherently bad. It’s a natural consequence of the whole blockchain technology.’James Gorman Just when it seemed Wall Street’s bitcoin skepticism knew no bounds, Morgan Stanley MS, +0.08% Chief Executive James Gorman steps in to argue that the cryptocurrency phenomenon at least is “more than just a fad.” Gorman made the remarks during a Wednesday event hosted by The Wall Street Journal, Bloomberg reported. Gorman highlighted some of the potential attractions of a digital currency, including “the privacy protections it gives people,” adding that it is “interesting because what it says to the central banking system about controlling that.” That stands in contrast to remarks by Jamie Dimon, chief executive of Wall Street rival J.P. Morgan Chase & Co. JPM, +0.20% who sent digital currency aficionados into a tizzy after he declared bitcoin BTCUSD, -1.21% a fraud and a bubble, saying, “It’s worse than tulip bulbs and won’t end well.” Dimon, however, did emphasize he was separating the bitcoin phenomenon from the blockchain technology that underlies digital currencies. Then there’s billionaire Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund, who last week said cryptocurrencies like bitcoin meet his firm’s criteria for a market bubble, in part because they don’t serve as a reliable storehold of value due to their extreme volatility and signs that people buy them with the sole of intent of selling them on later at a higher price. “Bitcoin is a highly speculative market,” he told CNBC. “Bitcoin is a bubble.” Even some of bitcoin’s Wall Street backers are pushing the bubble narrative. Former Fortress Investment Group manager Mike Novogratz this week called bitcoin “the largest bubble of our lifetimes,” but said traders stand to “make a whole lot of money on the way up, and we plan on it.” Novogratz is looking to launch a $500 million hedge fund that will invest in cryptocurrencies. Gorman did wonder at what point regulators might crack down, something that is already beginning to happen in China, in a bid to control monetary flows to combat money laundering and to control capital outflows “and all the other reasons.” Bitcoin slumped hard in mid-September, hit in part over concerns about China’s crackdown on exchanges, but has since recovered some lost ground. A single bitcoin fetched $4,085.87 at midday Wednesday, according to Coindesk.com, a rise of 4.9% on the day. Bitcoin, which ended 2016 at less than $1,000, and other digital currencies have been on a tear this year.