Market Ramblings #2
Why it's currently my only position for crypto
Sold my Micron positions yesterday before market close. It was painful to do so but again profit needs to be taken at some point. I still hold my positions on Intel and AMD. Will assess further what to do with those.
I also added a bit more on oil companies on the dip today. Not sure how the news will react but this is a longer term position in general with my overall tech exposure.
Personally don’t think crypto is that interesting right now. I know people are still angling on crypto being the next big innovation and we just need to wait but the reality is that it just isn’t right now. BTC is still struggling at mid $70s while the S&P is flirting with new highs. The case for most alts is difficult to make. You have to deal with increasing supply, little demand, and a slew of token unlocks. If you are to bid alts I want the ones that show actual demand. Venice remains the best case of this philosophy in my opinion.
Equity Markets
AI infrastructure has been a good trade but planning to be a bit more cautious and not add on too much risk in this sector unless there are some genuine dip buying opportunities somewhere.
Chip and memory stocks as a whole feel like the initial altcoin rallies. You have the biggest movers and then everything downstream. Now everyone is searching for the next infra shortage to speculate on.
The SpaceX IPO looks to be coming out around June at this point and want to see how the market reacts to the launch. It’s important to remember one thing. Predict less, react more. The people who try to predict moves are basically akin to reading tea leaves. Instead, pick up the hints that the market is telling you instead of trying to ascribe to one definitive view. Probabilistic markets require probabilistic thought. \
My Watchlist
MSFT
Waiting for any larger dip on this. It’s not a sexy or anything but one of the largest tech companies in the world that’s been broadly underperforming this year.
LLY
Didn’t get my original entries before the recent pump. Just waiting for a better opportunity here.
Hype
Idk, prices are too high at this point but will be looking for entries at some point if we get a broader drawdown