iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,152 Blog Posts

Month Two of Down Cryptos — Have You Been Buying?

Prior to two months ago, cryptos had been up 10 months straight, topped off with a frenetic run in shit coins whereby all of the unwashed plebs made and then eventually lost fortunes. We are removed from that ugliness now and ETH is hovering around $1920. I dare ask: have you been accumulating MOAR during this dip?

Nothing’s over and the bull run is going to be very long and deep. The perfidious rally amongst the SHIT COINS worked as planned and now all of the poors and back to their housing tenements and all of the BTC is back into the hands of those who know how to treat it. I’ve been buying the past two months and will continue to buy more into all of the FUD. Remember, buying ETH isn’t so much a bet on “the future” or even an alt-currency. It is a currency hedge against all of those dollars you have stashed away — just in case an event occurred that could, dare I say, render them valueless. You might be thinking right now “ABSURD FLY — how dare…” but then again have you even seen negative $37 WTI before?

Onto the markets: Stocklabs called the bottom nicely and now we’re swimming gently and without current. I am +75bps, a little ribald but not too much. I have some trades on now, but still hold a tremendous amount of cash. I am almost never fully long and when I am it’s for a short duration. The gains I’ve achieved, +220% YTD, have been gotten mostly in cash, believe it or not. I do not try to hit homeruns, but instead a non-stop and constant barrage of singles, 1% here, 5% there. If I can make 10% for the month, I am thrilled. The goal here is two fold: feed the fish to the Pelicans inside Stocklabs and of course build MASSIVE wealth over a long period of time. Life is long and there are many surprises yet to come. It’d be a shame if I wasn’t around for future fun, financially, so I make it a point to remain solvent and always involved one way or another.

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One comment

  1. ezthere

    Fish to the Pelicans. Nice… Truth

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