The last two days (and weeks and months in general) have been among the most profitable that I have ever had trading across multiple markets. My largest stock holdings are Apple, Tesla and Beyond Meat, all of which had historic days (and two of which had even more historic weeks and months). While I have no doubt that this bull run can continue, I am starting to feel emotionally euphoric about the market which is an early warning sign that the party could slowly come to an end. That said, I have started trimming off of the top of these positions and taking some profit into cash.“Be fearful when others are greedy and greedy when others are fearful.” - Warren BuffetIt is important to note - as an investor in the market, I feel no particular need to take profit, because my time horizon is decades and not months or years. As a trader, I feel compelled to pay myself in case we are starting to see the top.That said, I would be very surprised if the current administration allows the market to crash before the election. They can continue to use the FED to inject capital into the market and use other techniques to assure that nothing dramatic happens. There's no reason to hit the panic button here if you are in the market, but it is time to start paying close attention to what happens. The warning signs are beginning to appear (greed near all time high, pundits saying that you should "never sell!"), which we will discuss further below.A quick lesson:What is one of the keys to making money in markets? Be right and sit tight. This is a simple concept to understand, yet one of the most difficult to actually perform. From famed speculator Jesse Livermore:“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. I’ve known many traders who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine. That is, they made no real money out of it. Traders who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.” - Jesse Lauriston LivermoreCut your losers for small losses and have the patience to let your winners run. That's the key to longterm gains.What’s in this issue?Bitcoin thoughts and technical analysisAltcoins - large caps continue to runCrypto Twitter's Top 10 Content ProducersCME Introduces Options Trading On BitcoinAccredited Investors In The United StatesFear & Greed Index - For The Stock MarketMy Favorite CartoonBeyond Meat Is Beyond Insane
The Wolf Den Crypto Newsletter - Issue #12
The Wolf Den Crypto Newsletter - Issue #12
The Wolf Den Crypto Newsletter - Issue #12
The last two days (and weeks and months in general) have been among the most profitable that I have ever had trading across multiple markets. My largest stock holdings are Apple, Tesla and Beyond Meat, all of which had historic days (and two of which had even more historic weeks and months). While I have no doubt that this bull run can continue, I am starting to feel emotionally euphoric about the market which is an early warning sign that the party could slowly come to an end. That said, I have started trimming off of the top of these positions and taking some profit into cash.“Be fearful when others are greedy and greedy when others are fearful.” - Warren BuffetIt is important to note - as an investor in the market, I feel no particular need to take profit, because my time horizon is decades and not months or years. As a trader, I feel compelled to pay myself in case we are starting to see the top.That said, I would be very surprised if the current administration allows the market to crash before the election. They can continue to use the FED to inject capital into the market and use other techniques to assure that nothing dramatic happens. There's no reason to hit the panic button here if you are in the market, but it is time to start paying close attention to what happens. The warning signs are beginning to appear (greed near all time high, pundits saying that you should "never sell!"), which we will discuss further below.A quick lesson:What is one of the keys to making money in markets? Be right and sit tight. This is a simple concept to understand, yet one of the most difficult to actually perform. From famed speculator Jesse Livermore:“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. I’ve known many traders who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine. That is, they made no real money out of it. Traders who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.” - Jesse Lauriston LivermoreCut your losers for small losses and have the patience to let your winners run. That's the key to longterm gains.What’s in this issue?Bitcoin thoughts and technical analysisAltcoins - large caps continue to runCrypto Twitter's Top 10 Content ProducersCME Introduces Options Trading On BitcoinAccredited Investors In The United StatesFear & Greed Index - For The Stock MarketMy Favorite CartoonBeyond Meat Is Beyond Insane