That was a tough +200 NASDAQ day, with a slew of growth stocks getting forked. I had problems early going when trying to play ordinary stocks and then I switched over to the wondrous NFT space and made it all back, and much much MOAR.
I closed the session at highs, +150bps, with grandiose gains in stocks like IMTE. These are really shitty bottom dweller type names, but the market is excited about them and anything one is rumored to be involved, UP WE GO.
I am resolutely bullish, even though I believe this narrative of selling spec for big cap growth is ruinous. I need to remind myself to avoid catching knives all day long.
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Fly – I have been reading your blog as long as I can remember.
I first learned about bitcoin in 2014 – and since i have been DCAing in for years.
I like that you started paying attn to eth and nfts, giving credit to the space, but I would like to direct you to a great piece by Parker Lewis on why I believe bitcoin is the move to bet on in crypto, and frankly, nothing else.
I hope you glean some info out this that I’m including, as I have learned tons from you over the years.
https://unchained-capital.com/blog/bitcoin-not-blockchain/
Stopped reading after this sentence because it is retarded.
“The aggregate implication is that only one blockchain is viable and ultimately necessary. Every other cryptocurrency is competing for the identical use case as bitcoin, that of money; some realize it while others do not but value continues to consolidate around bitcoin because it is the most secure blockchain by orders of magnitude and all are competing for the same use case.”
Fly – I have been reading penthouse letters as long as I can remember. I first learned about cunnilingus in 1980 – and since I’ve been munching the rug for years.
I like that you started paying attention to Richard Weiner, giving credit to his excellent posts, but I would like to direct you to a great piece by Henry Miller on why I believe munching rug is the move to make your lady friend stick with you, and no one else.
https://Tropic of Cancer.COA