Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Steely Dan - Only A Fool Would Say That
https://www.youtube.com/watch?v=Hvz0TOm0zgI
I am super cautious to the point of not liking to hold much of anything over the weekend. I sold a nice 2-day position in SOXS...early apparently. I did pick up a bit more CLSK as I get more comfortable that the bottom is solidly in place. I see a lot of wet blankets on the market. I think demand destruction is happening but hard to say how significant it will be.
Interesting. Spent a lot of time wandering around on Coin Gecko. I got lost in there. That's a good resource!
I was looking at your two matrices. I was wondering how those would look if you did them all paired against BTC instead of USD? Do you think that would change their relative ranking against each other?
I created a spaghetti chart of the metaverse coins you have in the matrix to see what it shows. All relative to BTC. The starting point being the bottom re-test low of Feb 24th...the market low in my mind.
They don't call them shit coins for nothing. BTC and ETH are both clearing some hurdles from earlier this year. Good chance to move up to the next levels in the near term. I still think both of those and alts and every market is constrained by the supply chain crisis + inflation + rising interest rates + geopolitics + the energy shock.
I think recession is approaching later this year and there are no sure things to bull forward. Mole had a "you ain't seen nothing yet" post last week.
Need to stay nimble but I am happy since the Jan crypto lows.
The boys have been selling this move hard over the last few days. A lot of unhappy customers gnashing their teeth. I still see both in a trading range. They are showing nice movement since the crisis low in Jan and the Feb retest...they both have a breakout look to them. We will see soon. The spaghetti chart can still spot some breakout coins. OGN was the play last week. I am holding GLM, MIR and NEAR (all on Kucoin) along with the miners. If Jan-Feb was THE low than things will be pretty good soon. But if geopolitics, inflation and rising interest rates tighten their grip then more rough seas ahead.
Great stuff thanks! I am fully in and waiting it out. Ethereum does seem to be moving ahead...but until we see some true higher highs we are just nearing the upper end of an extended trading range. But I am hopeful...
On the other hand, miners have been very profitable this week for me. CLSK is clearly the strongest between MARA, ANY, CLSK and BITF in the following chart. A clear up channel whereas the others in a flat trading range. I am in CLSK and BITF this week and will hold over the weekend. One of these days the range should break to the upside?!?!?!
Hope you are well!
Been on my mind as well. I had really good results with NRGU over the last 10 days. Only trading on days when I can stay within earshot of alarms I set up on Trading View. I have been using the 15 minute chart and just playing simple crossovers of the 8 and 21 EMAs with some discretion about being above or below the 200 period lin-reg. Rarely have I been holding over night. Once the 8, 21, 50 ribbons out in order it's a good feeling. I set up NRGD for some anticipated pullbacks and watching when I can.
Well...that Eminem will make it in to the HOF before the MC5 doesn't seem right to me. Nothing against Eminem who is a significant figure but... The fans I guess who vote are just getting younger
https://www.youtube.com/watch?v=EPfmNxKLDG4
I agree it's close to a good breakout...although I still think it's also vulnerable to the same economic panic areas that are shaking the entire market. I am still basically in the stable coins waiting this out and some alt coin activity including FTM.
On BTC, watching the 200-eriod linear regression curve which is essentially the SLOPE line. It is flattening and not yet turned up, but price is inching over that line similar to last July's bottoming action.
Two Generations of Brubeck - Blue Rondo a la Turk
I forgot how much fun this version was from Dave and boys
https://www.youtube.com/watch?v=1yw12V2KK0Y
KOLD play or BOIL
Took a trade pre-market on KOLD
- 15 min chart
- 200-period Linear Regression curve
- 8-period EMA
I want to buy when price crosses above the 200-period Linear Regression curve which is essentially the Slope and the curve itself is curling up. I have set an alert on Trading View to text/email me when the 8-period EMA crosses above the lin reg curve on KOLD or BOIL.
The red horizontal line is the Point of Control line on the Volume Profile (hidden) which is showing what price level the most trades happened in the timeframe showing on the chart.
Something happened on the last bar of the day with the miners. ANY exploded. BITF had the earth move. MARA and CLSK did not feel anything...yet. So I bought CLSK as the market closed. And I'm holding ANY from a few days ago. Frankly, ANY has been a swing trading dream since the crypto market bottomed on Jan 24th.
There was a Matt listed on the call. Somehow I have M and S calls on my gmail calendar. M does the same Glassdoor metrics and alt coin charts. Just more conservative in his view and calls on individual charts. He sort of reminds me of you…just wait till it has really turned up and not a day before
I got emails back to back from M and S. I was amused and found that they were saying more or less the same thing in two amazingly different styles. S is brash and positive we are past the bottom with enough caution to say we just aren't out of the woods yet, while M is much more cautious in declaring a bottom but likes what he sees and also says we are almost there.
I have been swing trading miners last week and went in a little bigger on Friday. I was watching way too much of ETH and BTC price action over the weekend but I think a payday could happen this morning. I have ANY and RIOT. ANY has been making news headlines with their acquisition and business plans so that has juiced it up some more than the others.
Were you by any chance on M's zoom call last night?
I agree. The 15 min in my opinion turned this morning at least by the MACD (12,26,9) cross of the signal line. And that progressed through the 1 hr chart, but it hasn't flipped the 2 Hr, 4 Hr or Daily chart yet. I did buy a few play shares earlier in the day. I also had some success playing the 15 min charts this week. But it took a lot of work to get that. We shall see what the aftermarket says and pre-market on Monday. Good luck!
Could be the CPC 6 - 10 day forecast outlook. There is also an 8 - 14 day outlook.
https://www.cpc.ncep.noaa.gov/products/predictions/610day/610temp.new.gif
You can get the same map on the Pivotal Weather site as well
https://www.pivotalweather.com/maps.php?ds=cpc
I think it was the forecast models from Pivotal Weather which you can loop to see a 30-day outlook
https://www.pivotalweather.com/model.php?m=cfs&p=sfct&rh=2022012400&fh=loop&r=conus&dpdt=&mc=
It's always been for me about the two lines of defense on my chart...same lines as everyone. It hit the magical 50% drop point last night. Right between the lines. Scott's email declares (again) that was the bottom...with a week or two of stabilizing yet to go on the theory of no more sellers left. A bottom here or a fast poke down to 30K (or 29) is about the same possibility to me at this point. But mainly up from here.
Paul Weller - acoustic Abraham, Martin and John
The ever changing moods of the irrepressible Paul Weller
https://www.youtube.com/watch?v=aWGDK6DOvC0
You didn't know her but Rachel Nagy died yesterday. Rachel was the lead singer of one of the most vibrant bands that has ever come out of Detroit's rich rock and soul history. The Cobras are on so many playlists of mine that it seems like I listen to them every week. Strong and soulful...she will be missed. Rest in peace.
https://www.metrotimes.com/city-slang/archives/2022/01/15/detroit-cobras-frontwoman-rachel-nagy-has-died-according-to-band
"The Cobras have made a career of playing other people’s music, and have sometimes been lazily dismissed as a “cover band.” And though, technically, that tag is true, the band — particularly Nagy — brings a gruff, road-traveled beauty to the music. The singer offers a deep sense of empathy to the lyrics, toward both the songwriters and the songs’ subjects. And lines like, “I’m going to take him by the balls and drag him all the way back to town” make men fret. Hers is unrepentant and believable."
https://www.youtube.com/watch?v=LRlqTNAkj5g
I sure did see it. Added a few more shares on opening weakness. Interesting that KOLD reverse split today. It was announced last week of Dec.
I saw that, too! I still have Be My Baby on multiple YouTube playlists. Always takes me right back in time. Phil Spector. The Wrecking Crew. The Ronettes defined "girl group".
Now that is some pretty wild stuff. Mudrex...that is something new and different and I will check it out. I like how it segments the different coins. I know Scott has been keen on the metaverse coins for most of this latest push.
I would be happy just to gauge the actual bottom, I'm still working with the Linear Regression indicators and channels. In the charts below I am looking for the orderly crossovers of the 20-day (green), 50-day (blue) and 200-day (red) to signal the turn has been made. The rising and falling curves that are the Linear Regression Indicator are basically the concept of slope that you have worked with quite a bit. The regression channel on the chart with just ETH and BTC is a 350 day channel.
The last chart below is a quick look at the miners on a 4 Hr timeframe. Same general set up with the 20, 50, 200 Linear Regression curves with an 80-period Regression channel.
In the use of the curve or the channel a falling 200 or a falling channel is what is dominant and what all of these are not are to get out of easily. Tough environment but a slow position build from here seems worthwhile...just not all at once.