Fitbit Is…Another Blue Apron / Snapchat

Shares of Fitbit (NYSE: FIT) was down 13% after they announced their fourth-quarter results this past week. While the company beat analyst estimates for both revenue and earnings, it issued disappointing guidance.

Wedbush analyst Michael Pachter wrote that the company’s “guidance for continued earnings losses is somewhat disappointing.”

Morgan Stanley analyst Yuuji Anderson reiterated his downbeat view of Fitbit’s prospects, writing that the company’s legacy device business “continues to overshadow new opportunities.” He’s concerned that “difficult demand trends in consumer wearables” will lead to an acceleration in cash burn and hurt Fitbit’s ability to generate earnings power.

Source

Fitbit was the pioneer in fitness

My TIMM Trading Pit Commentary – Wk Of 2/25/19

TIMM (Traders’ & Investors’ Mentor Market) provides the tools analysts need to share their insights in a central location, TIMM becomes a market where traders and investors can shop for the insights they’re looking for.The Trading Pits are, in some ways, the main meeting place for TIMM. Here you will see folks sharing insights and asking questions about markets.

Commentary from this past week includes:

I wanted the upper level, price turned during the 10 am reversal and has formed another supply zone, might get a chance to still short this Market.

US equity markets gapped up today, looking to short the

Crypto Contest March 2: Basic Attention Token

Basic Attention Token (Bittrex: BATBTC) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, BAT began a wave one advance in September 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in November 2018, and the red wave two (blue sub-waves a-b-c) correction ended in February this year. If this wave count is correct, BAT should be heading next towards the November 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Zooming out in the weekly chart, I believe BAT is currently in the red wave three

Box Got Crushed

In 2005, one of Box’s founders the start up with money he earned from playing poker. Ten years later, the company went public and now serves 70% of the Fortune 500 companies.  

Box began as an enterprise-focused cloud storage company, but it’s been increasingly building out a platform on top of its cloud-storage product.  It provides cloud content management platform that enables organizations of various sizes to manage and share their enterprise content from anywhere or any device.

It was only three weeks ago Goldman Sach issued a buy rating with a $31 target price. The Goldman Sach’s analyst thinks Box as

FANG Stocks Don’t Have Nothing On Tandem Diabetes Care, Inc. – Part 2

Five months ago I wrote a post about Tandem Diabetes Care, Inc titled,

FANG Stocks Don’t Have Nothing On Tandem Diabetes Care, Inc.

Tandem Diabetes Care, Inc., a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States.

More than 100 million U.S. adults are now living with diabetes or prediabetes, according to a new report released today by the Centers for Disease Control and Prevention (CDC).

Tandem Diabetes Care’s products include t:slim X2 with Basal IQ, t:slim X2 with Control IQ, and the t:sport insulin delivery system and mobile health offerings. Tandem Diabetes Care (TNDM)

Square Is No Circle

I would think Square needs no introduction but, Square, Inc. provides payment and point-of-sale solutions in the United States and internationally. The company’s commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions.

Square announced earnings this past week. The company reported stronger-than-expected fourth-quarter financial results, but disappointed investors when they forecast their numbers for the first quarter.  On the news the stock price dropped after hours and opened right in a daily demand zone this morning.

I have come to like Square over the last 12 months, not because

Unusual Options Activity In GE

Two month ago, I talked about how GE had bottomed and a close above the $8 level would confirm that bottom,

Has GE Bottomed???

But before considering going long, the conviction for me would be if price can pull back to the daily demand at $6.75, then take out the $8 level, the bottom in GE would be more convincing at that point.

One month ago, I talked about since price closed above $8, the next two levels I was targeting was daily supply at $10 and $11.50.

Has GE Bottomed??? – Part 2

Both levels were hit, but now price

Crypto Contest March 1: Ripio Credit Network

Ripio Credit Network (Binance: RCNBTC) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, RCN began a wave one advance in August 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in October 2018, and the red wave two (blue sub-waves a-b-c) correction ended in January this year. If this wave count is correct, RCN should be heading next towards the October 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Ripio Credit Network is a global credit network based on cosigned smart contracts. Proof Suite reviewed

Ripple’s mission is to provide bank solutions allowing for faster payment settlement and lower foreign exchange fees.  So they created the digital currency / ledger XRP.

Today, Coinbase added support for XRP to its retail platform and mobile apps and made the announcement on their blog. The exchange announced the development in a blog post on Feb. 28.

XRP is the cryptocurrency used by the XRP ledger, which supports international currency exchange and remittances. The ledger is powered by a network of peer-to-peer servers. All accounts on this network can send or receive XRP to/from each other, while XRP can be used

Caterpillar Back In Its Cocoon

The EU recently stated that it would impose 20 billion euros ($22.7 billion) worth of tariffs on U.S. products if President Donald Trump follows through on a threat to impose automotive duties against EU.  And one of those companies being targeted is Caterpillar.

If you can recall, Caterpillar, announced earnings last month and had its biggest profit miss in a decade on worries over trade tensions.  This past week Caterpillar was on the receiving end of more bad news.

Shares of Caterpillar Inc. sank Tuesday, after UBS swung to bearish from bullish on the belief that more than half of the company’s