The markets so far this year have been fairly tame, lacking volatility which is good and bad, depending on how you perceive it. This year has been more swing-trading (holding for 2-5 days, sometimes weeks) which has been fine. There's been more stock selection using shares to hold than I can remember for the past three prior years.
We have the 3 Bucket Investing Webcast this Saturday, if you have yet to register you can by clicking here.
I was wrong on this last week trying to short, and took a stop. However, we're at our second price zone where price could have some selling against the $60 level. I like to have multiple zones set up from multiple time frames so I can know where I can afford to be wrong ahead of time. This is probably the one asset class I'll focus on for the next 2-3 weeks at these levels on the short side.
This has been a struggle to short but $285 still remains a target for me, mainly based on the price charts. Ideally we need to stay below $325 this week for this to happen, if we break above then I'll switch to a long but from here on out I am watching for this to break.
Finally above the $9,000 mark. I have a lot to say about crypto and we'll do a webcast here in a few weeks on them. I own coins in this from sub $2,000 and near $3,000 and plan to start selling some as soon as the CME opens the futures trading on this. I don't really like the word bubble anymore mainly because it's used by people who missed out on the move, plus, if everyone sees the bubble it's not really a bubble is it?
I'll go out on a limb here and say that when the futures open we'll make all time highs again crossing $10,000, maybe even $11,000, but the banks and major players can now use the liquidity of the futures to really trade this and I bet we get a large short/sell off on the crypto markets. Again, trading price is just trading price so as an investor you're going to see many "learn to trade crypto" courses come out which is just part of any market/asset. I think it's understanding the fact that you know have a futures product for this (which is essentially insurance right) so it will be big and start to get volatile, even more so than now.
Am I going to sell all of my coins? No. Some of them, of course, I love to scale out of investments. But you can bet I'll be messing around with the futures on Bitcoin.
I talked about it a bit here in this blog post last month.
The Long Short Podcast:
We're on episode two of the podcast and it will soon be on iTunes so you can follow and listen. My plan is to bring a 1-hour segment each month with a student trader, instructor or entrepreneur of any field. Sometimes it's good to just talk money and other things aside from trading in my opinion so if we can get some great entrepreneurs on that will be a plus!
Be sure to use this link to listen.