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Jim Cramer discusses Nike (NKE) – Get Report, Tesla (TSLA) – Get Report, Bitcoin, Dynamic Stocks such as Corsair (CRSR) – Get Report and what he wants to see from the Federal Reserve.
Watch the full interview with Katherine Ross in the video below:
Elon Musk, Tesla and Bitcoin
Elon Musk took to Twitter again to discuss Tesla and Bitcoin. In response to a tweet from Cointelegraph, the CEO of Tesla tweeted: “This is incorrect. Tesla only sold around 10% of the holdings to confirm that BTC could be liquidated easily without moving the market. When there is confirmation of reasonable clean energy (~ 50%) use by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions. “
What’s going on with Bitcoin?
“In the ‘Off The Charts’ segment, Cramer spoke with his colleague Tom DeMark about the outlook for bitcoin and the S&P 500 index,” TheStreet’s Scott Rutt wrote in his Mad Money recap.
According to DeMark, after a steep decline, bitcoin will need time to consolidate before it starts to recover. He has created a 13-day countdown for when this change is likely to occur. He said that If bitcoin could hold above its May 19 low it needs to see nine more ugly sessions, which may take another three or four weeks. He noted that Bitcoin’s current chart mirrors that of the rally. after the stock market crash of 1987, ”he continued.“ Regarding the S&P, DeMark felt that the index is running out of steam and is close to a peak. He noted that the S&P only needs two more days to complete its 13-session countdown. “
Hear what Jim Cramer only says to members of his Action Alerts PLUS investment club in Monday’s Daily Rundown.
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