DUK is a utility stock paying a 3.70% dividend.

The stock is a consolidating in a narrow range, causing its 20-day Bollinger Bands to come together, and looks like it is going to break out.

Looking at its chart you would never know that the stock market took a tumble from July to early August, when it had that panic VIX day.

DUK is a defensive stock and is an example of where the strength is in the markets now.

Gold went to a new high yesterday morning.

Bitcoin fell, showing what is weak.

Bitcoin has done NOTHING since the launch of the Bitcoin ETF’s earlier this year.

The stock market didn’t do much yesterday either.

You could say it was dull, but that’s not a shock, and stocks are trading 100% better than virtual crypto coins.

We saw some wild volatile swings in the averages down and then up this month.

When you get big volatility in a short amount of time typically volatility then dies out and it seems like not much is happening for a period of time.

It is likely to stay like this the rest of this week.

Here is an interesting tip from CNBC:

"For 2024, you may qualify for the 0% long-term capital gains rate with a taxable income of up to $47,025 if you’re a single filer or up to $94,050 for married couples filing jointly."

"You can use the 0% bracket to reset your “basis” or original purchase price, by selling a profitable asset and then immediately repurchasing. "

https://www.cnbc.com/2024/08/26/zero-percent-capital-gains-bracket.html

No “AI” was used to write this email or edit it.

And…..

This is an example of where the weakness is now in the markets.

RIOT is one of the largest Bitcoin “mining” companies and makes no money.

Its stock spiked when the Bitcoin ETF came out and has been fading ever since, trading below its 200-day moving averages.

Here are its earnings.

Here are the earnings for DUK.

DUK pays a dividend.

RIOT cannot pay one, because it “mines” for virtual crypto coins and can’t make a profit.

What would you rather invest in?

A company that makes big money supplying electricity to people in the real world or a company that sucks up energy, paying for it all, trying to run computer programs to “mine” for virtual Bitcoin?

In a market where the Federal Reserve is going to lower interest rates, and the economy is slowing down, you invest in things that are real and not speculative garbage.

There is nothing more useless in the markets now than the predictions of a Bitcoin guru.

-Mike

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