A Better Deal, Where You'd Least Expect It

While conventional wisdom among speculators early this week dictated that a resurgence in the crypto space could easily gain steam as equities struggle, a casual glance at the Bitcoin Investment Trust (GBTC) weekly chart, first below, reveals that Bitcoin is far from out of the woods since topping out just before last Christmas. 

At a minimum, you would want to see Bitcoin adequately negotiate its February highs before becoming too excited at the prospect of a new leg higher. While it is true that sentiment became noticeably quiet regarding the entire crypto complex this year, the stiff selling Bitcoin is running into over the last twenty-four hours should put new buyers to the test. 

Either way, I am not too enticed by Bitcoin's prospects this spring unless and until GBTC clears back over $20, which roughly equates to $11,200 on the actual Bitcoin chart.

Meanwhile, frozen potatoes seems to be where it is at, as one of our Members astutely noted last week. 

Lamb Wesson has not only defied the heavy selling in defensive/consumer staples for a while now, but it remains a viable buyout target. On the second chart, below, the LW daily timeframe reversal very strong price action with impressive buy volume, to boot. If the frozen potato producer can hold the mid-$60s here I would be looking long into any signs of market stabilization.