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The Penny Pro isn’t buying bitcoin stocks now

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Jeff Williams, lead trader at PennyPro.com, says that despite all of the headlines and price action surrounding cryptocurrencies, bitcoin stocks aren’t moving enough or showing the patterns necessary to make them worth trading now. Williams noted in this Raging Bull podcast interview that a lot of bitcoin-related stocks seem to currently be trading below their 50-day moving average line, a medium-term trend line, and that when the stocks start breaking through that level he thinks many will be ready to buy at that point.

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Jeff Williams is the lead trader of PennyPro.com. He is a short-term trader of stocks under $5 a share. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.

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