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mYCharts - June 12, 2019

Dr. J’s Flight to Bitcoin

FEATURING: JON NAJARIAN

 

Jon Najarian is a professional investor, market analyst on CNBC, and co-founder of Investitute.com, a financial education and newsletter services website on which he publishes his market observations and trade ideas. Jon has a rich history in investments and trading, having worked as a floor trader for more than 25 years founding companies like Mercury Trading, optionMONSTER & tradeMONSTER, and Najarian Family Office. He’s also the author of four best-selling books on trading and options.

We grabbed some time with Jon to talk about his Bitcoin mYChart (above) and his experience using YCharts the last 3+ years.

Q: Can you tell us a little bit about your various involvements and what you do with each organization?

A: Most people probably know me from CNBC’s “Halftime Report” and “Fast Money” where I speak about broad market trends and catalysts for market activity on a given day. I contribute my insights on options and futures, detailing the unusual activity in stocks and options using the Heat Seeker™ algorithm that I developed while working as a floor trader.

I also co-founded Investitute.com with my brother Pete and Dirk Mueller-Ingrand. Investitute is a resource for customized trading education and newsletter subscriptions that help traders reach their full potential. Whether you’re a beginner, an advanced investor, or somewhere in between, Investitute has resources and information that can help you reach your financial goals.

We offer online education that traders and investors can access 24/7. With over 270 hours of training on stocks, technical analysis, and options, combined with our team of former floor traders, Investitute can customize training to every level of individual trader. We also publish trade ideas that our systems have highlighted as opportunities so that investors can do as we do and follow the smart money in the stock market.

Q: When you put together your mYChart, what were you trying to understand or communicate?

A: As you might know, I’m an active investor in the cryptocurrencies and do a lot to bring awareness to Crypto — the best way to do that is through education. So when looking at Bitcoin’s latest run, during which it’s value rose from about $3,200 to more than $8,600, I knew a lot of people would be asking, “Why?”

I put this chart together to propose that a well-known concept, the “flight to safety”, could be the reason for Bitcoin’s rapid appreciation. As the market becomes uncertain about the future health of the economy due to things like interest rates and the trade war with China, investors move to cash. I put this chart together in about a minute and it strongly suggests that people are “flying to safety” in not just USD, but also Bitcoin.

If true, that idea could really legitimize cryptocurrencies. I think charts like this one show a real transition rather than simply saying that investors are, “moving from fiat to digital assets”.

Q: How long have you been using YCharts?

A: I started using YCharts back in 2016 but my use of the tool is constantly changing. I’m always finding new ways to use the platform because it feels like there’s always new features or more data being added.

Q: Is there a secret tip or shortcut that you’d like to share with other YCharts users or someone considering trying out the platform?

A: I think everyone should check out the Economic Data available on YCharts, especially if you use economic data as a component in your overall strategy. There’s so much data, from currency exchange rates and new housing starts to GDP growth and commodity data. The breadth and depth of the data are so valuable for really getting to the root of what moves the market.

Q: In a recent client survey, YCharts users indicated that the platform saves them 3–4 hours per week. If this time savings is true for you, what do you do with your extra time?

A: I definitely feel those time savings. When I’m on-air, I need to react in real-time to the market news of the day. I don’t have days or hours to get smart on today’s topic… I have minutes. Even just knowing that YCharts has the data I need and that I don’t have to check two or three sources saves a ton of time, allowing me to spend time on my sound-bites surrounding insights, rather than just feverishly working to collect information.

I love using the data on YCharts to express the insights I wish to communicate and in particular, do so on CNBC and or social media (@jonnajarian on Twitter or @thedoctorj on Instagram). Being able to create compelling visuals, like those I create using YCharts, to enhance interactions on social media is why I am such a fan of the platform.

When I’m off air, I can put a lot more time and effort into making Investitute more valuable for investors and getting it in front of more people. Personally, I use some of that extra time to spend time with family, travel, and expand (or deplete!) my wine collection.

Jon Najarian — Co-Founder, Investitute.com

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