The Weekly Market Update's goal is to give you some insights on the stock market, some visibility on my portfolio, and how I make decisions.
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Green week. Almost everything is going up. Financial indicators are optimistic again. I bought the signals for INDA and QQQ, and increased my positions.
Gold seems to be slowly bleeding. It is not surprising: investors sell their gold to buy more stocks. However I plan to keep my allocation, it could become useful in the future.
Graph(s) of the week
Last week I came across an interesting tweet from Yoni Assia, CEO of eToro:
Clearly, there is a correlation between both. What about causation? Looking at the graph, it seems that the price is leading the number of investors. This means that a price increase attracts more eToro investors. Therefore, it is probably a lagging indicator, not useful information for trading.
Yoni managed to plot the number of investors. So it means the information is accessible somewhere, right? They probably store the number of investors per instrument.
After a little bit of digging, I found the API endpoint. And I managed to get the data:
Interestingly we see that eToro is mainly used for cryptos. Then come the FAANG and other tech stocks. And the infamous GameStop is now the 17th most popular stock on the platform!
Unfortunately, I can't access the history. So I started recording these numbers every 10 minutes. And I got some exciting graphs:
It's too early to conclude, and it mostly depends on how eToro computes the price. Does it execute the orders itself? Does it use an external provider? If it's the former, then there is a chance this information is valuable.
I will keep digging and keep you posted ;)
Not much happened in my portfolio lately. It kept performing well compared to other indexes: