The prior ATH was the key deciding line a few weeks ago. When the AMEX:SPY closed below it it signaled the drop. Now with the low it formed on 9/24 in combination with the recent ATH it has created a 50% Retracement of the down move. Ya'll know how much I love my 50%... This is clearly the consistent and current dividing line between bullish and bearish...
A few weeks back during the recent run up I observed that BITFINEX:ETHUSD was outperforming BITFINEX:BTCUSD . Now in this recent drawdown across the board in cryptocurrency Ethereum has UNDERPERFORMED Bitcoin as evidenced by looking at the BITFINEX:ETHBTC . My initial thesis could be wrong about the shift in dominance and in price. The past outsized returns...
Took two positions this morning in NASDAQ:VRTX and NASDAQ:MKTX .
Setup an order this morning to buy SRPT at 127.71 and was not sure if it would fill. Market sold off today as the SPY continues to fight that critical level this week.
Today's trade is a long off support on DVN. Looking to take it back up to the prior range at 10.65.
In response to "BTFD TSLA" threads this morning I think folks should tread lightly on NASDAQ:TSLA ... it had a really, really good hyperbolic run up. When TSLA has made "dips" in its history they have ranged from no less than -36% to -62%... It has only now pulled back -17%. That is barely a dip by TSLA standards...
ETHUSD is off its recent high by -26%... BTCUSD is off the same time by only -14%... I must confess I am being taught a lesson in patience when it comes to expressing my theory about ETH vs. BTC performance. I had already begun reallocating before these movement and it is unpleasant to be facing the increased relative drawdown. The lesson here is that the...
This 'healthy' pullback to the persistent bull trend happening this week has significance... it is retesting the past ATH. This is a decision point. Will we close above it to confirm the past ATH as a support... or break it and signal the failure of this great rally as a false breakout?
Taking a long on BITFINEX:ETHUSD on the 1h to start the weekend after a big morning volatility bar.
Starting off the week and my publishing of live equities trades with a long position on NYSE:DHI . Looking for it to hold this spike created in the early morning back up to a retest of the recent high range.
Took a long trade this morning as my second trade in the strategy.
For a number of weeks now it has become clear that Ethereum BITFINEX:ETHUSD has been outperforming Bitcoin BITFINEX:BTCUSD in relative terms and in recovery from the March lows. I was strongly considering changing my opinion about Bitcoin always having the dominant allocation in a smart cryptocurrency Investment Portfolio. I even thought that perhaps it was...
I am interested to see what becomes the dominant method of Internet crypto transfer in the near future. The cost of Bitcoin transactions are becoming incredibly cost prohibitive. In recent weeks it has been as high as $6 worth of Bitcoin to make a transfer. Often times companies that sell products online and accept cryptocurrency will offer discounts. One I...
So every cryptocurrency, having taken on the mutual correlation that Dow Theory predicts, is trying to recover its price from the recent big drop. I'm using Ichimoku on the 1 hour charts to gauge the strengths of BTCUSD, ETHUSD, BCHUSD, and XTZUSD. Ethereum is winning in absolute percent gains off the low but very close behind are Tezos and Bitcoin Cash. ...
Headlines for clickbait this morning are saying that the "Dollar Shorts are getting crushed". Sensationalism aside I don't agree. The major instruments to watch being EURUSD, Dollar futures, and Gold are having very minor of pullbacks from their clear trends. Gold busted right through its former all-time-high and is staying. Inflation still in full effect...
My target for the hedge 11900 was a bit off... 1.6%... I'll endeavor to do better next time :D I liked the play out of "reducing volatility" with a hedge. (See last Idea) A 20% hedge saved a drop of -8% by reducing it to -6% off the high's gains. I think that big drop killed a lot of the late-day FOMO buyers... their spirits crushed... may be hesitant to go...
The Bitmex futures premium on December contracts is now up to 4%. This is not a historic high by any means but starting to offer a good yield on hedge positions.
Ecclesiastes 1:9 What has been will be again, what has been done will be done again; there is nothing new under the sun. NYSE:KODK