Remember this quote? “FEAR is the path to the DARK SIDE….. FEAR leads to ANGER….. ANGER leads to HATE…. HATE leads to SUFFERING…. And SUFFERING leads to stupid ass trading decisions you’ll regret later down the line.”
Okay I made up that last part but if Yoda was an investor I’m sure he would have included it.
Well that didn’t take very long. Much to the collective chagrin of the perma-bears (i.e. the majority of retail traders) this effervescent equities market seems to always have another trick up its sleeve. In actuality it’s the same old trick over and over again, but per the time tested maxim: if it ain’t broken don’t fix it.
Not even two months ago I kept receiving a flood of emails from readers and even old friends who asked me if it was a good time to buy bitcoin.
My standard reply was – and continues to be – that it’s *always* a good time to buy bitcoin. Mainly because unlike in trading my investment window is measured in months and years – and not in days or weeks.
I’m not one to engage in lofty predictions but I’m getting a strong sense that the crypto market is ready to pounce. And about bloody damn time, if you ask me. The crap fest we’ve been enduring for over two months now is starting to get old.
Here’s another golden rule of trading you will never hear in the financial mainstream media: The less information the market yields, the more participants will attempt to fill the resulting vacuum with noise. Which is exactly why market makers love the summer slump as it’s high season for selling over priced OTM calls and puts to hapless retail traders.
Brilliant timing being back as I am seeing some interesting developments in the crypto markets right now. Before we get to that here’s a quick update on my medical trip to Barcelona where I had my left eye operated at the world renowned IMO clinic. If you don’t care I honestly don’t blame you, just scroll down a bit to get to the charts.
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Investor sentiment has fundamentally changed post-COVID and it’s going to take a MAJOR market correction to revert it back to what I would consider normal. Until that happens we will continue to face a skewed marketplace that is effectively suffering from an acute bout of futurophobia.
The majority of traders fail for a variety of reasons but one of the biggest is that they keep asking the wrong questions. It’s not that the majority of them are stupid or untalented – I frankly don’t consider myself a genius either. It’s just that their head has been filled with years and sometimes decades of mental trash they seem unable to get rid of.
Let me be crystal clear. Opportunities like these only present themselves once or twice in a lifetime. I am dead serious about this. What is going on in the marketplace right now is absolutely unprecedented. However I would bet you good money that 99% of retail traders are completely unaware.
Look I just want to get in front of any potential rumors. No I did NOT kill John McAfee. I didn’t even know the man personally. And just because I recently spent two weeks up in the North of Spain does not mean I hired some local goons to have him snuffed in his prison cell. I mean – sure, I COULD have. And he did after all welch on his bet that BTC would hit the $1M mark by 2020.