S&P Dip Amid Job Losses
The S&P is dropping below 6,300 amid job losses, rising unemployment, and oil spikes [https://x.com/i/status/2030730813747212562]. The strategy? Buy dips in AI/crypto like BMNR/IBIT during deleveraging before a potential QE rebound.
The S&P 500's recent struggles come amid a surprising February jobs report showing a loss of 92,000 jobs, against expectations of a 59,000 gain. The unemployment rate edged up to 4.4%. This was coupled with a downward revision of the prior two months' payroll figures. Adding to investor concerns, oil prices have spiked due to the ongoing conflict involving the U.S. and Iran, briefly hitting nearly $120 a barrel. While prices have since settled around $90, the surge has triggered fears of broader inflation. Some analysts anticipate average gas prices could reach $4 soon. Despite the downturn, some see opportunity in AI and crypto, with dip-buying strategies focused on companies like BitMine Immersion Technologies (BMNR) and the iShares Bitcoin Trust (IBIT). BMNR focuses on cryptocurrency mining using advanced immersion cooling technology. IBIT provides investors exposure to Bitcoin through a convenient ETF. However, broader market sentiment remains cautious. The market is considered to be complacent about the conflict in Iran and its potential impact. Some analysts recommend buying protective puts, anticipating continued volatility in the coming weeks.
