iBankCoin
Joined Jan 27, 2008
7,402 Blog Posts

EASY MONEY IS OVER

Now that the Bitcoin ETF has arrived, the orange cryptocurrency has taken a breather. Apparently, $GBTC holders have been waiting for this moment, and it has been a free for all since August of last year. Lucky for me, I committed a bunch of capital to the crypto space during the month of August, and have been rewarded handsomely (all trades documented in Stocklabs). So what’s next for the orange coin? I’d expect more weakness, before resuming it’s uptrend. We still have MOAR bullish catalysts ahead for the crypto market, one being the halving amongst others, so I will continue to buy on further weakness.

I know many of you do not care about the crypto space and come here for stocked picks, but I have to write about where my head is at. There was a great thread posted this weekend that explains the “behind the scenes” action in the Bitcoin, it’s a great read for those interested:

Enough about the nerd coins, back to the market. $AAPL pretty much set the tone for the year with a cut in guidance for their iPhone sales. I’m pretty shocked that the marketcap for Apple still sits near a 3 trillion valuation and has held up to start the year. But, I think that changes soon– maybe even this week. I would watch the action in Apple to get a gauge on future market direction. If we start to see $AAPL break lower, it might be worth your wild to look at some of these tech inverse ETFS, or just go gangster and buy blocks of puts on the QQQs.

As we near the end of the month the FED will be in focus. I think it’s well-known that Powell will pause, but will there be clues for future cuts this year? Maybe, maybe not. Maybe market participants start to force the FEDs hand and force a cascade here, maybe not. Regardless, I would trade with a sense of caution here.

As for some high volume movers on Friday, you can click the scan HERE.

Good luck trading this week, and hold on to your butts. I’ll focus on my puts in the $QQQs.

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3 comments

  1. martingale

    RC is the goat

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  2. FLB58

    I’ve missed GOAT CAJUN — bring us back to SOL summer

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