Market Update August 15, 2021
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Hello Friend,
Well, the sleepy days of summer (at least in the markets) appear to be over. It's been a long haul watching BTC pull back and consolidate over the last 4 months or so. In the chart below we see how it has pierced 'the most important trend line in crypto' and is not even looking back. The next line of resistance is around $49,000 to $50,000. If it can penetrate that and hold, the next stop is the previous all time high of $64,000+ and then beyond. |
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| | Below is the same chart from our trading platform showing the 10 lots in open long positions in BTC just to satisfy the curious. There are actually three different accounts in operation but this is the main one. The other two have a total of 7 additional long positions open.
We didn't add any additional positions at the low for two reasons; #1...There was significant FUD (fear, uncertainty and doubt) in the market at that point in time about the direction it was headed, and #2...in view of that with our equity position what it was, we didn't need any additional exposure to continued downward movement had it continued going that way. Instead, we waited for confirmation of a trend reversal to build our equity back up, which it has done, and we are breathing much easier now. |
| | | | The world economic situation is screaming to be in alternative assets right now despite the stock markets still achieving new highs as the Fed and central banks continue to pump them up with 'stimulus'. But it's only a matter of time before that bubble bursts, the USD crash and we see the 'Alt' markets i.e. cryptos, commodities and metals as the place to be to capture the moonshot when it happens.
In view of that, we spotted an exceptional opportunity to take a small position (5 lots-500 ounces)and get back into Gold which is the chart below and it's already doing well. There is no doubt that gold, silver (and other markets) are highly manipulated but that has its limitations and when the avalanche comes, there will be no amount of manipulation that will stop it. |
| | | | | So as the situation continues to improve, as mentioned previously, we'll begin to add more positions and get a little more active in trading to capitalize on the opportunities as they present themselves.
Once again, we have a lot of work to do between here and there, but the goal here is to create a source of funds that will sustain us all for years to come.
Thank you for your patience.
Note to Gold Trust Package (GE) members: If you find yourself locked out of the PAM system, it's only due to an extended period of inactivity (not logging in) which is an automatic security feature. To get access freed up again, contact Francisco mmgfin@protonmail.com with your details.
Have a great week ahead! |
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