Crypto-Tech Windfalls & Bullish Cannabirony
Four days after my first “one and done” was posted, MARA is already up 72%
ApeCoin traded as much as 20% higher.
FNGU - my tech “one and done” - is up 25%
What to do? In the immortal and sadly ironic words of Ozzy, “Don’t ask me, I don’t know!”
Entries & exits, or not, are your business and responsibility 100%
I’ll sometimes share mine, ideally to help illustrate the value of my timing tricks. Hadn’t thought that through before diving into substack. It’ll take awhile to find my “voice” and lane here.
I’m already near a double on MARA and have plenty other crypto exposure, especially after the spike higher this week, so if it doesn’t drop a lot tomorrow I might close at least half to ride the rest cost-free but won’t be trimming the APE position.
If anything, I’ll be adding ApeCoin over time.
“Betcha $50 APE you can’t wedge on-topic Sabbath references into your market blog!”
- a friend
Speaking of irony…
Years ago illegal cannabis growers were profitable so to get grow lights they lied by saying they were growing veggies.
Now legal cannabis growers are unprofitable so to keep the grow lights lit they’re saying they’ll grow veggies.
Tilray May Move Into Fruit, Beer as Cannabis Legalization Stalls
That’s long term bullish for pot stocks.
My “one and done” for cannabis is MSOX, closed today at $6.03
Using Bitcoin as proxy for the crypto sector, its score is i3, m1. Same for Etherium and ApeCoin. Same for a lot of things across most sectors. It’s all the same big bad bubble and has been for years, and best way to play it is as a major rally within a bear market.
Typical bear markets have 5 or 6 significant rallies of certain characteristics. So far this bear’s had 3.
A couple months ago a 6-week 21% rally (“whoa!”) in the Dow capped with overreaction to a weak CPI print. That 21% rally was statistically normal within a bear market, and statistically not how bear markets end.
Did this year’s rally cap on similar CPI sentiment today?
We’ll soon know, but in the meantime it’s party-on.