The Wolf Den #29 - Bitcoin, Ethereum, Dow Jones, Trading Rules
thewolfden.substack.com
Markets are bouncing across the board today, which feels more like relief to me than reversal. Yesterday was the worst day in the HISTORY of the Dow, so a reactionary move up is expected. I have discussed my thoughts on the stock market over the past few weeks, so you should know where I stand. My belief is that we are heading into a recession and that we have already entered a bear market. That is just my OPINION based on what I see. This will not alter my investing strategy long term, beyond viewing it as a chance to buy in cheaper through dollar cost averaging. As a trader, I took additional shorts on Carnival Cruise Lines and American Airlines on the open today. Again, I am trading to hedge against my investment portfolio, which I have barely touched aside from taking some profit last week.It's important to have some perspective - I have shared the Dow Jones lifetime chart below in the newsletter and you will see that, long term, investing in the market has always been a good idea. Bitcoin made some nice moves since yesterday - now we will see if this is also just a reactionary bounce to strong downward movement from Sunday, or whether it is building towards a reversal.This week I am looking at Ethereum in depth, alongside my normal Bitcoin analysis and potential altcoins trades. Nothing in any market is looking particularly attractive for traders at the moment - this could be a good time to watch and wait rather than force trades. I am also thrilled to announce the release of The Wolf Of All Street Podcast! I am sending a separate email with all of the details, but you can listen to it here if you would like! Make sure to subscribe on your favorite platform!https://blockworksgroup.io/wolf-of-all-streetsApple Podcasts are not currently working, but should be up imminently - if you subscribe, you'll get a notice when it is ready. It's running on Spotify already!What’s in this issue?Bitcoin Charts And AnalysisEthereum ChartsAltcoin TradesThe Role Of Luck In SuccessThe Dow Jones ChartTrading Rules - A Few Of My Favorites
The Wolf Den #29 - Bitcoin, Ethereum, Dow Jones, Trading Rules
The Wolf Den #29 - Bitcoin, Ethereum, Dow…
The Wolf Den #29 - Bitcoin, Ethereum, Dow Jones, Trading Rules
Markets are bouncing across the board today, which feels more like relief to me than reversal. Yesterday was the worst day in the HISTORY of the Dow, so a reactionary move up is expected. I have discussed my thoughts on the stock market over the past few weeks, so you should know where I stand. My belief is that we are heading into a recession and that we have already entered a bear market. That is just my OPINION based on what I see. This will not alter my investing strategy long term, beyond viewing it as a chance to buy in cheaper through dollar cost averaging. As a trader, I took additional shorts on Carnival Cruise Lines and American Airlines on the open today. Again, I am trading to hedge against my investment portfolio, which I have barely touched aside from taking some profit last week.It's important to have some perspective - I have shared the Dow Jones lifetime chart below in the newsletter and you will see that, long term, investing in the market has always been a good idea. Bitcoin made some nice moves since yesterday - now we will see if this is also just a reactionary bounce to strong downward movement from Sunday, or whether it is building towards a reversal.This week I am looking at Ethereum in depth, alongside my normal Bitcoin analysis and potential altcoins trades. Nothing in any market is looking particularly attractive for traders at the moment - this could be a good time to watch and wait rather than force trades. I am also thrilled to announce the release of The Wolf Of All Street Podcast! I am sending a separate email with all of the details, but you can listen to it here if you would like! Make sure to subscribe on your favorite platform!https://blockworksgroup.io/wolf-of-all-streetsApple Podcasts are not currently working, but should be up imminently - if you subscribe, you'll get a notice when it is ready. It's running on Spotify already!What’s in this issue?Bitcoin Charts And AnalysisEthereum ChartsAltcoin TradesThe Role Of Luck In SuccessThe Dow Jones ChartTrading Rules - A Few Of My Favorites