Hey Folks, SPY, the S&P 500 Index ETF, was all over the map this week. It broke above the top of the descending channel from the downward reversal that began at the beginning of the month and went half way up to the highest descending resistance before the slow collapse began Friday morning. Price also retraced about 60% of the dip from the last two weeks. This is a normal retracement and if the descending green line gets taken out price is likely to continue sliding. I still like the b … [Read more...]
Exit Alert
I just sold ANY for a 13% loss as it broke support. Limit losses! Sphere 3D Corporation (ANY) daily Trade Smart, Don … [Read more...]
Two Minute Read…
Congrats to those who dismissed the fear and bought GBTC. More than a double so far with partial profits today. I want to keep a position for tagging all time highs but may trade it down and trade it up. See GBTC chart below. Grayscale Bitcoin Trust (GBTC) daily Also, see chart below of S&P 500 Index (SPX). Just lines on a chart but they give me comfort and help me with risk management, profit taking, adding positions, subtracting positions and generally maneuvering/nudging r … [Read more...]
GBTC
I just sold 20% of my position in GBTC. You might want to consider trimming. Pullback potential to $6/7. Nice job! +136% on partial. Keep an eye as it might move fast. Grayscale Bitcoin Trust (GBTC) daily … [Read more...]
Part 3 of Review
It's me again... The S&P 500 Index ETF (SPY) is falling apart like a bad burrito. This is the dip I have been expecting and writing about for weeks. Truckers, it's going to get steeper and likely level off around SPY 270. This is where I would like to get aggressive again. See 15 min SPY chart below. S&P 500 Index ETF (SPY) 15-minute Continuing the review...the following entry recommendations are very recent (last 3 weeks) and getting sucked down with the broader market sell of … [Read more...]
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