Trade Alert: Fear In The Air, Here Are The Trades I’m Making

You can smell the fear building in the air on Wall Street. And there’s the stench of fraud, silliness and stupid cryptos rotting away. This is exactly what I’ve been saying I expect will happen in the crypto industry for the last year with 99.99% or more of the current batch of cryptos being silly, stupid and/or fraudulent.

I went ahead and nibbled some BITO in the hedge fund to get some bitcoin long exposure back on the sheets today with bitcoin cracking $17,000.

I still have quite a few shorts in some of the bitcoin-related stocks and I plan to continue selling those down and slowly scaling into some bitcoin exposure. For now I’m using BITO in the hedge fund, which is an ETF that buys bitcoin futures.

I’m doing a little bit of buying here in some of our names and in the hedge fund I’m covering most of my shorts and selling many of my puts. Today I’ve nibbled a little:

AMZN and GLD common, some GOOG calls with strikes around the current quote dated out the next week or two, some DIS calls, with strikes around the current quote dated out the next week or two, some U calls with strikes around the current quote dated out the next week or two.

I’m not exactly a screaming bull here, but I’m thinking sentiment is skewed bearishly and I just want to slowly open up some long exposure into the market panicky action as our playbook dictates. Easy does it.

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