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Trade Alert: Trimming Bitcoin, Buying Puts on SMH, Hedging TSLA

July 27, 2020 by Cody Willard Leave a Comment

After years of riding this Bubble-Blowing Bull Market, crowds screaming “De-fense” in this video are me with my TWC subscribers right now, as I think it’s a better time to be defensive than aggressively long stocks, gold, bitcoin, bonds or just about anything else liquid here. I am still net long though.

And this just in: Bit co in. Bitcoin is bitcoing. I am trimming a little. I’d mentioned a couple times  last week that I thought Bitcoin looked ready to break out: “Bitcoin’s looking like it could break out in the next few weeks, both from a fundamental perspective a TA perspective…” 

Gold, silver, many stocks, and now bitcoin are going up parabolic these days. Trimming parabolic charts makes sense to me. That said, I’m not trimming much of TSM or AMD or QCOM any more, but I am buying some puts on the SMH, a semiconductor ETF, slightly out of the money dated out over the next few weeks.

I also just bought a couple puts on TSLA, dated out two or three weeks and 5-10% out of the money just to slightly hedge the position.

 

 

 

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Filed Under: Trading

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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