I don't know enough about crypto to trade anything other than Bitcoin and maybe ETH bitcoin is getting wound into a tighter and tighter range which ever way we break should be a move either back up over 110k and into the highs, could just explode one day or it could go back below 100 and just fuck everybody hahaha i cant even inagine how many leveraged positions are in that if it starts to unwind down to the original point at 70
I made 10 points, today I bought UPS $115 puts. I know their business decently, the news was catastrophic. Stock was $114s
Dumped all Canadian oil on friday except WCP.TO when the news came out that Trump was actually going through with these tariffs, didnt think he would be dumb enough to tariff oil and make it more expensive for himself, still sitting on the U.S. side looking to build there. Was thinking about it at the lake while I was sitting on my phone instead of enjoying fishing, and thats not the position i wanna be sitting on with Trump and the sword of Damocles hanging over your head for the next 4 years whenever Trump sees something he doesn't like in Canada. Cypto tanking over the weekend, thinss could get spicy on monday, waiting on the nasdaq futures to open to see where we go.
Didn't place any day trades yesterday was more concerned with everything else was thinking about buying into that in the morning but Couldnt pulll the trigger, whoever is moving the futures and bitcoin down over the weekend in the middle of the night is making a fortune right now running peoples stops lol. 2 trades this morning RGTI and EL, EL was an obvious dumpster fire, but didnt hold long enough. Sized in when it hit VWAP with a stop if it started to hold up over 75, It was SSR so I was out pretty early because those ones can turn on you and squeeze. I figured it would put more of a fight in at 70 dollars but instead just ran straight through and stopped everyone out. Was trying to get in in the premarket but it was low volume and never got to my orders. Other trade was RGTI, that has been a good trader, lots of range, lots of people both short and long panicking on prior support/resistance levels, Bought some when news came out that Bill gates figured quantum computing could be here sooner, figured it was going to squeeze the shorts, Didnt want to wait for it to open cause it always either goes straight up or straight down off the open, so dumped it in the premarket.
There is whats left for now on the oil side, only U.S. stocks, sold out of everything Canadian on Friday because I don't want to have to deal with Trump for 4 years. Right now im about 40% USD and 60% CAD which is where I want to be, wish I would have sold every single USD I had yesterday at 1.48 lol, crazy move on the currency. Big reversal on CL at 72, hoping it catches a bid now.
Well needless to say this has been a trash start to the year being bullish on energy, definately feels like im in the wrong place right now as literally everything is a fight. Think I might have gotten overly optimistic with oil in part because I wanted Canadian oil to work because I was moving back from USD into CAD with no where to go. Anyways I cant sit on CAD cash so im just starting to put some of that into XIU which pays the same as GIC's right now plus the index. USD/CAD starting to fall apart the way I thought it would, that looks like a pretty definitive top at 1.47, but if you dump all USD holdings your left in a spot trying to find places to go in CAD which is an equal challenge to the currency. Day trading been decent finally got my paperwork done with Centerpoint so I have better access to shorts so that will help more. Debating whether or not to just dump all oil other than WES which pays a 8.5% dividend, and WCP.TO which pays over 7%, will probably start to trim if oil holds below 70. So far Gold been the best performer of the year across all asset classes. Chart via @ charlibilello on twitter Current Oil Holdings. AIFF was a monster on friday too bad it was small size cause im not used to using the DAS trading platform yet. They had an offering in the morning for 4 milllion shares which is what every one of these small cap companies does when they hit 300+% return in a few days for no reason.