Trading Pub – 24 Oct 24

00:00: The return of the McRib at McDonald’s and how it relates to financial indicators like the Big Mac index.
06:15: The importance of reading nutrition labels to avoid hidden sugars like maltodextrin.
10:28: The ECB’s comments on the Cantillon effect and how Bitcoin could impoverish non-holders, viewing it as great marketing for crypto.
11:41: Reviewed recent trades, including a profitable fade on Ape and a short position on Alpha that was closed to avoid further risk.
17:38: Update on the Tron Long trade, which is still performing well, and the Ripple short, which is experiencing a pullback.
20:09: Trading positions in Tron, Ripple, Gas, and Render. Render trade has been profitable so far.
21:02: Waiting for the AI narrative to return to drive a longer-term move in Render. Analysing chart patterns.
21:53: Render may have more downside in the short term based on chart analysis and the current AI narrative.
23:29: Closing the Render trade due to doubts, following the rule of closing trades when there is any uncertainty.
24:12: Discussing the long-held Tao trade, which is currently profitable in the range of $160-200k.
27:42: The importance of considering different time frames (nano, short, medium, long, generational) when assessing market sentiment.
30:12: Remaining nano-term bearish on Bitcoin, but medium to long-term bullish until the end of the current cycle.
42:12: Reasons for the US dollar’s recent strength despite rate cuts and loosening monetary policy.
44:33: Monitor geopolitical tensions, as an attack on Iran’s oil production could lead to the Strait of Hormuz being blocked, causing oil prices to spike.
46:49: Analysing the Bitcoin-to-USM2 chart, which appears to be forming a bullish cup and handle pattern.
50:59: BlackRock has been aggressively accumulating Bitcoin, buying $1.75 billion worth in the last 10 days.
53:04: Book tickets for upcoming CUDL and ski trip, as spots are limited.
01:01:17: Advise against investing in meme coins at high market caps (e.g. $1B+), better to get in earlier (e.g. $10-20M).
01:01:30: Shorting the MASK token, which shows a clear topping pattern indicating a potential price decline.
01:12:48: Reviewed the Memes AI project, noting concerns about the token creator holding over 10% of the supply across multiple wallets.
01:22:36: Noted a YouTuber pushing a bottom pattern long trade for a crypto asset.