Coinbase Global Inc (COIN)

[jrf30]

Out.

For now. But out. The jump to the $235s and then starting to slide again was enough and I took it. My $255 calls were expiring anyway so I took it off the table.

I personally think the market is going to have a bad October. I remember October 1987 and October 1989. Two of the worst months ever up to that point. October is just not a great month for the market. And we are high right now, we are inflated for the wrong reasons, the fed may start talking of tightening ("don't fight the fed." Part of the reason we are up right now. And a big part of the reason we shall be lower a year form now!) sooner rather than later, and things are not as rosy as the market is saying they are.

If I stayed in stocks, this would still be one of the ones I would want to own. but I'm going to the sidelines for a while, for preservation. And the fact that we are now below $230 again today tells me I am glad to be out. LOng term this stock should kill it. But for now ... I am out. GLTL