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My crypto obsession, I think it should be said, is forgivable given the state of equities. I mean, take something like the semiconductor index. This is a dynamic, exciting, volatile industry. And yet, over a period of over four months, what is its net change? Zero. Zilch. Zippo. It’s the SOX, for goodness.’ sake.
Sometimes I get an idea for a feature which needs data first. You didn’t know this, but we’ve been tracking everyone’s account balance in their Virtual Trading account for many months. We are too focused on our Really Big Project right now to create these charts, but I’ve mocked up my own equity curve based on the data we’ve stored. Once we do this for real, it’s going to be super-cool! I’ve had a rough time of it lately, but by God, I’m going to conquer $10 million.
There’s no doubt about it. Every rich person on the planet has become vastly richer thanks to the worldwide help of central bankers. As for everyone else – – hey, they got their stimmy checks, right?
For when it comes to trading the financial markets price is the ultimate arbiter of truth. Period. We can whinge and whine all we want about what the market ‘should be doing’ based on a laundry list of technical evidence suggesting that it is ‘overbought’. But in the end, the market will simply do what it wants to do. And when it wants to go up – we aim high – especially during a bull market.
So as you may recall from my previous update I keep seeing quite a few alarm signs flashing hot red, one in particular is excessive SKEW across SPX and SPY options. But then there’s this:
(more…)As a relative newcomer to the world of crypto, I remain flabbergasted at what a wretched experience it is for the user. The presentation of the information is straight out of a user interface guide from the year 1987. Coinbase, far and away the biggest force in the business, offers the following as its “Portfolio” (this is from my own account):
