🐶 Can 'X' Trigger a Dogecoin Bull Run?

Smart investors know they shouldn’t trust exchanges with their crypto.

The Daily Dough team loves using Trezor wallets to secure our bitcoin and altcoins.

In the world of self custody, THIS is your bank!

What’s on the Menu 🍴

We’re back with some delicious insights and wisdom to help you grow your dough!

Today you’re getting served up a crypto trade idea, a stock market earnings season update, and wisdom to help you live your dream retirement.

Here’s what we’ve got for you today:

• Can 'X' Trigger a Dogecoin Bull Run? 🐶

• Sizing Up Earnings At the Halfway Mark 📏

• The 3 Pillars Of Your Dream Retirement ❤️

• Trading From Gut Instinct? 🧠

Today’s newsletter is a 5 minute read.

Can 'X' Trigger a Dogecoin Bull Run? 🐶

Dogecoin is the digital underdog that started off as a simple internet joke back in 2013.

It was a meme, a wink at the wild world of cryptocurrency.

But look at it now, it's got a life of its own, a cult following, and a ride that's more volatile than a caffeine-fueled kangaroo on a pogo stick.

We’ve been trading Dogecoin since those early days, back when it was considered a crazy bet. Let's just say we've been impressed by its ability to keep itself in the leaderboard of crypto projects.

Musk couldn't resist pumping it to the masses during his Saturday Night Live gig in May 2021.

That publicity stunt was “THE Top” of Dogecoin’s price at $.76.

Since Elon told the world to buy Doge, it’s tumbled more than 90%.

This is why our strategy for profiting from altcoins is to get in BEFORE a coin is popular because it’s gone up 10X in a few months…

And sell when your plumber and 15 year old nephew are bragging about their easy profits.

In a nutshell, we trade altcoins with the goal of accumulating more bitcoin and fiat currency that we can invest in other high quality projects.

We don’t become cult members or bag holders that end up with 95% losses.

Dogecoin’s Bull Case

With this 'X' endeavor, Musk is aiming to conjure an "everything app," offering a comprehensive suite of financial services.

As you might remember, Musk first purchased X.com for his online banking startup in 1999, which later morphed into part of PayPal.

Now with 'X' rebranding Twitter, both short and long-term implications loom for the crypto markets.

Here's the spicy meatball - potential integration of cryptocurrencies.

Yup, you heard it right...

Your morning tweets could soon be flying alongside Dogecoin transactions (or another cryptocurrency).

Last April, Musk replaced Twitter's blue bird logo with Dogecoin's emblematic Shiba Inu.

The result?

A staggering 20% surge in Dogecoin price within the hour.

Musk has been pretty vocal about his fondness for the meme-turned-digital-currency, stating Dogecoin might be his favorite.

He recently added a Dogecoin symbol to his 'X' account, fueling speculation about an imminent Dogecoin integration into the app.

If people even believe there’s a chance Musk is moving to integrate Dogecoin into X, we could be looking at another bull market for the meme coin.

And yes, that means potential profits for those of us savvy enough to swing trade it.

We're keeping our eagle eyes on that $.10 price ceiling.

If Dogecoin can break through, we might be looking at a parabolic run, the kind that draws in all those get-rich-quick dreamers looking to ride the wave.

Sizing Up Earnings At the Halfway Mark 📏

We’re about half way through Q2 earnings reporting season for public companies, so let’s take a look at how things are trending!

More than 1,000 companies have reported quarterly earnings in the past two weeks, and over 800 of them reported last week alone.

Going into Q2, analysts expected earnings to decline about 7% year-over-year in aggregate for S&P 500 companies, with growth in some sectors and declines in others.

Currently S&P companies are on pace to hit that 7% decline figure on the nose.

BUT it’s important to note that just 3 sectors account for the bulk of the earnings decline: Energy, Materials, and Health Care.

There’s been robust earnings growth in other sectors such as Consumer Discretionary, Communication Services, Industrials, Real Estate, and even Financials.

Further, the percentage of companies delivering earnings above analysts estimates is around 80%, the highest “beat rate” in several quarters and above the five year average.

Looking at sector performance so far this earnings season, 9 out of 11 sectors are showing positive stock price performance:

We crunched the data on the 800+ companies that reported earnings last week and it turned out that the median weekly return in that group was +1.3% last week.

At least in aggregate, investors seem content with Q2 earnings results thus far.

170 of the S&P 500 companies report Q2 earning this coming week, so we’ll have even more data soon.

As it stands today, Wall Street bank analysts expect earnings growth to flip slightly positive next quarter, which presumably also bodes well for stocks.

But is it all smooth sailing for companies based on earnings thus far?

Not necessarily…

One weak spot is the percentage of companies reporting revenue growth above expectations: that has dipped to 64%, which is below the one year and five year averages.

Companies that are beating earnings estimates due to cost cutting could find it harder to sustain that momentum in the quarters ahead.

As always we’ll be tuning in to more earnings reports and keeping you updated on the important takeaways!

The 3 Pillars Of Your Dream Retirement ❤️

Whether you want to fully retire one day and quit working altogether, or semi-retire, it takes proper planning when you’re younger.

Planning for your golden years is something that is really hard to do in your core working years.

We’re all too busy trying to pay the bills, progress in our careers, raise a family, care for loved ones and more.

It’s hard to push focus to “later life planning” when it feels so far away.

But the reality is, a good retirement is based on 3 things:

It’s like a puzzle we have to put together, and waiting too late to consider this planning, could lead to a less than wanted retirement life.

Let’s breakdown each pillar:

1) Savings: Typically, you want to be investing a healthy percentage of your income today for retirement. The rule of thumb is 10-20% of your income at a minimum depending on your bills.

Anything over 20% getting invested is going to help supercharge your nest egg.

2) Dreams: When planning for how to invest for retirement, we like to start with what your “perfect average day” will look like.

Is it traveling the world?

Is it living close to family?

How about doing charity work?

This helps you get to what work needs to be done today to get you to your dreams.

And if you have no idea what you want your days to look like, here’s what you do know: You’ll need money either way! So it’s not an excuse to not plan. Simply plan with flexibility in mind.

3) Reality: Having a realistic expectation of what your funds will provide you is important. You may not be able to get exactly the lifestyle you want, but, that doesn’t mean you can’t enjoy SOME of your dream ideas.

You might have to work a little longer than expected, or work a part-time job in retirement, or take social security sooner than you’d like. It doesn’t mean you’ve failed to plan a good retirement!

So even if it feels daunting today to think about these things… just know that your future self will thank you!

Trading From Gut Instinct? 🧠

We’ve all had feelings deep in our gut before that something feels right or wrong.

You may have had a gut instinct not to buy a certain home, or that a new colleague or partner isn’t trustworthy.

We’ve been asked before in our Wealth Building Community about how gut instincts or intuition coincide with trading and investing decisions.

Truthfully, trading and investing should be more calculated vs. using your gut feelings… but, that doesn’t mean that gut instinct can’t play a role!

Here’s Nikki’s take in a nutshell:

The fact of the matter is, you have to start in the trading & investing world by building your calculated strategy.

You do this with facts, patterns and statistical odds.

Trading from gut feelings alone in the beginning will not get you too far.

We simply call that beginners luck…and it eventually runs out.

Where trading from the gut works, is after you’ve built up a lot of experience in the markets.

That’s when you see patterns, and things play out in a way that your “gut instinct” starts to gnaw at you very quickly.

There’s a certain power that years of looking at price action on charts, momentum behind certain moves, and gauging overall fundamentals does for your gut feelings actually being right.

This is how true professionals are born.

So, the next time you come across an idea in the markets that you want to take action on from your gut… remember that your gut feelings alone shouldn’t drive you.

It’s a true partnership between data and experience that leads you to being able to “trust your gut” with ease (aka: true professionalism).

Join our Wealth Building Community to get access to trading and investing education, expert mentors & investing ideas.

Delicious Bites 😋

• A patriotic argument for building more nuclear power reactors

• Taking breaks during work is good for your brain

• Curve Exploit Puts $100M+ Worth of Crypto at Risk

• Three questions determine 99% of the happiness in your life

Food For Thought 🧠

“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case."
-Robert G. Allen

DISCLAIMER: We are not investment advisors, and this content is for educational purposes only. We don’t offer financial, legal, or tax advice. Nothing we say is a recommendation to buy or sell any assets. Trading and investing are extremely risky, so please be careful and do your own research.