Bitcoin just made a big move. How to trade it from here.

Listen to the audio version of this article (generated by AI).

Today’s issue in preview:

• This beaten-up, hated sector has a bright long-term future
• This retail giant’s soaring stock debunks the “weak economy” myth. Are you heeding its message?
• Bitcoin just made a big move. How to trade it from here.
• Learn our Top Themes to buy now

This retail giant’s soaring stock debunks the “weak economy” myth. Are you heeding its message?

Credit: YvanDube

It’s not getting nearly as much attention as Jensen Huang’s unconventional love life, but the stock market just sent us a very meaningful message about the U.S. economy.

This week, megaretailer Costco (COST) registered a new all-time high.

There are few better real-time gauges of American consumer health than Costco’s business and stock price performance. Generating about $300 billion in annual revenue, it is one of the true giants of American retail… and a legendarily well-designed and well-managed business.

Costco is one of the world’s largest retailers, operating more than 900 membership-only warehouse stores. The company sells everything from groceries and household essentials to electronics, furniture, clothing, and gasoline.

Its business model is simple: Buy merchandise in large quantities, keep operating costs low, and pass the savings along to customers. Costco makes much of its profit from annual membership fees, which provide a steady stream of recurring revenue. Its famously loyal customers keep coming back for low prices and quality merchandise.

Stepping into a Costco store is entering one of the great cathedrals of capitalism… a monument to logistics and business model mastery.

And enough people are stepping into these cathedrals and buying food, clothes, electronics, toys, appliances, and household goods that Costco recently reported a healthy 11% annual revenue increase and a 15% annual net income increase. These strong results and the prospect of more to come have propelled Costco’s market value to a new all-time high.

This is an important market signal.

Over the past two months, we have published a special series of research notes analyzing the bull markets in credit card giant Visa (V), fellow industry giant Mastercard (MA), premium retailer Williams-Sonoma (WSM), electronics retailer Best Buy (BBY), and hotel operators such as Marriott International (MAR).

In each note, we concluded that the American consumer and the economy it powers are not in the dumps as the mainstream media would have you believe but are actually doing quite well.

Sure, many consumers are strapped, but enough of them are spending that many consumer-spending businesses are enjoying strong profits and soaring stock prices.

We believe the strong business performance and rising stock prices of these firms tell a powerful and important story…

Sure, the U.S. economy has risks, imbalances, and problems. It always does. And sure, in the wake of the big Democratic Party sweep, there will be plenty of political battles ahead that will affect some industries.

However, political grandstanding and posturing are almost always more bark than bite. It’s almost always more hype than reality.

And as shown by the soaring share prices of key consumer firms, the economy has some enormous positives working in favor of economic growth, business growth, and rising asset prices. Remember, Costco doesn’t do booming business in a struggling economy.

This beaten-up, hated sector has a bright long-term future

Credit: HT Ganzo

Uptrends. Bull markets. Booms. Gold rushes.

These are the sorts of things we look for at Money & Megatrends.

We’re looking to invest in themes and industries with massive runways for growth and prosperity.

We’re looking to invest in industries with so much future demand and growth that, financially, we are running downhill… and playing the game of wealth building in “Easy” mode.

However, I’m the last person you’ll hear say that my way is the best way. When you hear someone say their way of investing is the best way to do it, and this or that way is crazy, then you know you’re talking to an idiot. Having an open mind is having “investment enlightenment.”

When it comes to business and investment, there are many ways to succeed.

You can do well trading trends with solid momentum… but you can also do well by sifting through the stock market’s dumpster that is the new 52-week lows list… looking for cheap, beaten-up industries that are dealing with a serious but solvable problem and due for a turnaround. I enjoy a trip to the dumpster to see if there are any compelling trades to be found.

Of all the thematic trends in the world, few have fared worse in 2026 than the nuclear power industry and its fuel provider, the uranium mining industry. They sit firmly in the stock market’s dumpster.

Over the past year, the VanEck Uranium and Nuclear ETF (NLR) has declined 33%. This is a diversified nuclear power fund that owns uranium miners, power producers, and nuclear power equipment and service providers. The Sprott Uranium Miners ETF (URNM) – which is focused on uranium miners – has declined 24%.

I consider the nuclear power industry as one of the most compelling long-term investments to play the proliferation of AI.

Given AI’s enormous promise, big tech firms like Meta (META) and Microsoft (MSFT) are racing to build the world’s best AI models and infrastructure. They’ve already spent more than a trillion dollars. This year, they are on pace to spend over $700 billion on AI infrastructure, with more than $3 trillion expected to follow.

All that AI infrastructure is poised to consume colossal amounts of electricity. Goldman Sachs forecasts global data center power demand will surge 220% by 2030 compared to 2023 levels. U.S. data centers already account for 7% of U.S. electricity consumption, a figure expected to rise significantly.

Given this outlook, AI companies and their power providers are spending heavily to expand nuclear power capacity. Nuclear provides “always on” carbon-free baseload power. Bloomberg reports that surging nuclear demand will drive $350 billion in U.S. spending by 2050.

This “Nuclear Renaissance” theme depends on uranium as fuel. Demand for uranium is soaring, but supply is constrained right now and will remain so for years to come.

You can get long on this theme in several ways. In the past, I’ve mentioned nuclear power equipment and service companies such as BWX Technologies (BWXT), specialized manufacturing), Mirion Technologies (MIR), nuclear facility monitoring), Centrus (LEU), uranium enrichment), and Solstice Advanced Materials (SOLS), uranium processing).

I’ve also mentioned Independent Power Producers such as Constellation Energy (CEG) and Vistra (VST). These two are not traditional, heavily regulated utility firms. Read here for more on their unique positions in the market.

You can also take the “one-click, and you’re done” route with NLR or URNM.

Investor enthusiasm over the industry’s long-term prospects powered a bull run in nuclear power stocks from mid-2025 to early 2026. That rally left many nuclear firms richly valued and vulnerable to a decline.

And decline they did. Although the American nuclear power industry has a bright long-term future, it is struggling here in the short term. Power plants are not coming online as fast as the bulls thought they could. Many communities have held up data center and power infrastructure permits.

These factors have powered the big sector decline detailed above. The anticipation of the big Democratic midterm win made the nuclear bear market even more painful in October, since investors believe the Dems will hold up AI data center demand and power infrastructure development.

The current business climate for nuclear is ugly. The political situation is probably ugly. But all this is common knowledge now and baked into prices. If you’re looking for a beaten-up sector nobody likes, start learning about nuclear.

Bitcoin just made a big move. How to trade it from here.

Credit: Vertigo3d

Bitcoin and the rest of the crypto world might richly reward investors someday… but they aren’t doing it right now.

This is my big takeaway from Bitcoin’s recent trading action.

Back in March, we wrote a bullish research note on how we believed Bitcoin had reached an important bottom.

After reaching an all-time high of around $125,000 last October, Bitcoin entered a brutal bear market, declining by about 48% to the mid-$60,000 range.

Crypto specialists attributed this decline to the U.S. government withdrawing liquidity from financial markets, as well as to gold and AI trades drawing money flows that could have been directed toward Bitcoin.

Most long-term Bitcoin believers see it as a “store of value” that should maintain its purchasing power like gold and beachfront homes do. It should be a digital form of “hard money.” Sounds great.

However, from October 2025 to February 2026, Bitcoin traded more like a failing technology company than anything you’d call strong and stable.

In March, Bitcoin’s trading behavior underwent a significant change. It formed a bottom and gained 9.5% in one month, while technology stocks dropped and gold gained just 3.2%.

Importantly, Bitcoin outperformed stocks and gold as Operation Epic Fury created tremendous market volatility and hammered many sectors of the stock market. It was a “port in the storm.”

Then, in August, Bitcoin rallied above its long-term 200-day moving average, a sign of improving trend health.

Over the past month, however, Bitcoin has been anything but healthy. Bitcoin has plunged 16% from its mid-October level. It is back below its 200-day moving average.

Remember what we say about the 200-day moving average around here: Securities below their 200-day moving average are on the wrong side of the tracks. It’s the ugly part of town. All the really bad things happen below the 200-day moving average. Bitcoin is now below it.

Crypto experts are attributing the recent decline to several things. One, growth- and technology-focused hedge funds sold huge amounts of stock and crypto-related assets in October. AI infrastructure stocks bore the brunt of the selling, but crypto assets were sold heavily as well.

And two, overall global financial liquidity has been weak, and traders expect the Fed to hike interest rates soon. Both are negative for Bitcoin, at least in the short term.

This decline has sent Bitcoin back into a long sideways consolidation area. From a bullish perspective, Bitcoin is like a “becalmed” sailboat on a windless sea.

I believe Bitcoin has the potential to run much higher from here. A big rally could help drive adjacent bull markets in blockchain-based stablecoins and tokenization.

However, the trend is the trend. And it does not care what you or I think. Until Bitcoin gains support and rallies back to the mid-$80,000 level, I have no interest in adding to Bitcoin and crypto-related positions. I have a close eye on this world. I’ll provide updates as the trend unfolds.

Market Notes

• Our October 8th recommendation to stay long the Boomer health care megatrend continues to do well. Medical device giants Edwards Lifesciences (EW) and Becton Dickinson (BDX), along with drug maker Organon & Co. (OGN), reached new highs today.

• Retail giant Costco (COST), beverage giant Coca-Cola (KO), and tech giant Apple (AAPL) reached new highs today. The American consumer continues to spend with enthusiasm. These are more bullish economic signals.

• Waste management giants Republic Services (RSG) and Waste Connections (WCN) reached new highs today.

• Specialty insurers Accelerant Holdings (ARX) and Pelagos Insurance Capital (PLGO) reached new highs today.

• Digital advertising platform Magnite (MGNI) reached a new high today.

• Crypto brokerage giant Coinbase (COIN) just hit a new yearly low. 

Regards,

Brian Hunt
Editor, Money & Megatrends

An urgent message from our colleagues:

Guess which tech stock is about to crash next?

No one believed Whitney Tilson when he predicted the collapse of Bear Stearns and Lehman Brothers. Or when he went on 60 Minutes exposing a company of poisoning its own customers. (The stock fell nearly 80%.) Now he has a new warning about what’s REALLY around the corner for America’s most beloved tech companies.

Watch for free here.