Tell me how this wasn’t yet another great social experiment by yours truly?
I bought this sewer rat currency back in May for a $450 avg, then sold them back to the eager beavers over $1,040 last Wednesday.
Now here we are, watching this instrument that the crowd doesn’t fully understand yet, make its way through the floorboards.
Tell me that this wasn’t another most excellent display of sentiment?
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Now do you suppose we get to the “returning confidence” upswing – –
http://www.marketwatch.com/story/bitcoin-could-soar-if-the-winklevoss-etf-is-approved-2017-01-11
You don’t think that’s what we just saw?
Haha. It was impeccable timing. Guess you are bearish on it now?
OA — I also notice you added $TWNK to your IRA a few days back. You like $TWNK over the warrents ($TWNKW)?
Up to you. I’m always a fan of leverage.
“watching this instrument that the crowd doesn’t fully understand yet,”
One of my favorite internet moments was watching the Winkelvoss twins try and explain Bitcoin a few years back during the enthusiasm run. They had no fucking idea what they were talking about, and were among the most prominent supporters and ‘experts’ of the drug-laundering currency at the time. This was right around when Silk Road got shut down. I just tried to find it, but my laptop is being a pain in the ass right now and not loading the page that I think holds the video.
My brother has been long bitcoin for a while, since $300. He texted me the other tell to tell me he told me so. Was the day before your post.
THAT RIGHT THERE IS THE INFLECTION POINT! You see that in chat rooms, blog comments, etc. Bchu used to be great at this until we let out the secret.
It’s when price moves in a way to make you actually let out the emotional outburst.
Those inflection points from a crowd standpoint are so unbelievably valuable.
So are the defensive responses.
Because now you are at the mercy of the market. Doubt creeps in. Price will move in a way to make you capitulate, unfortunately. When you do, I’ll be there.
“when you capitulate, i’ll be there”
that needs to be a sig or tag of some kind. that is grade A.
I’ll try my best to get back to that point for the benefit of the group
I am trying to figure out a way to convince my wife that her Masters in behavioral psychology is much better training for trading than any business or finance degree available.
OA, that bathtub scene is always funny, as is the carpenter “hammer and nail scene”. On a serious note what broker do you use for bitcoin? Is it a trading platform or is it like a “wallet”?
I use coin base – has an app – easy to use, can put money in either BTC or USD, so if you want to move avoid swings like what just occurred, you can keep it on the platform. Making BTC payments on it is easy as well – just snap the QR code and accept. If you get referred, they will give you and the referrer $10.
Check out the chart for EDIT – I’m seeing the sentiment chart here too. Does that mean I can buy an aversion move down soon?
Buy VSAT and be happy.
Who dares to give me a thumbs down on VSAT?? Jealousy does not wear well.
Good stuff OA. I agree exactly. I texted my brother back that day and said you probably topped the market, jokingly. Then your post came and I realized it probably was a top.
Thanks GS for SWKS downgrade. Blew up that nice trade.
My GLD puts were an awesome trade in November….not so much for tomorrow’s expiry. The metal did not reverse where I thought it would, it now it looks like it could run up to 1220-ish before resistence
Into GIS. Sweet wedge ready to rock.
russell looks like crap now, but it seems that break the wedge then rally out of it has been working lately…speed still doesn’t seem to be an issue
added $MTCH and $ANF Feb calls here
OA – you see all the bragging comments on YTD gains in the Fly’s blog?
By commenters that is…
It’s okay to say that the author and the commenters are both bragging. it’s an objective fact.
well fly always does but the commenters are probably more important from pscyh standpoint.
Emotionalized noise!
Fly plays 00 roulette.. we know how that ends sooner or later.
Bought RH. Nice base and great profile above. Two buck stop.
Closed out 1/2 of my June WFC’s for not quite 1000%. The size of the position was too big to risk earnings. I’m hoping it trades down so I can add back to the position. But if not, I’ve got the other half.
Nice. I am still kicking myself for exiting that one way too early
I may be saying the same thing tomorrow morning!
Jeff, I am sure you noticed the earnings delay in GRMN that caused the drop in IV and call price. What is your take on this kind of situations? Would you average down? Thanks
Does something have to be done?
Just asking, as the call price took a good hit due to drop in IV. Strategy and setup has not changed so perhaps it is a good opportunity to average down.
Putting more at risk is always up to the individual. If I recommend not doing more than 2% per trade and you’re already there, that would mean I’d have to have some extra conviction or put someone at more risk than necessary.
On the money management side, I always defer that back to the individual.
GRMN Feb 45 calls are a good deal @4
X down 14% since Gartman felt comfortable enough to recommend it on national TV
Bought $SWKS for earnings.
nice entry at the bottom of the wedge. easy to manage
I’ve been stalking it too long not to buy. I just wish I wasn’t on top of earnings.
Earnings always a crap shoot.
$WIT volatility is cratering into earnings right at the edge of a volume profile. (Not until 1/25, so you have to buy February). I’m going to bid it and then shut down my computer.