After rising 1% *per week* for several months due to rising inflation, my portfolio dived 1.5% last night. Think its just the inevitable shakeout as the inflation trade became too crowded. Last night, correlations went to one:
Sold all my bitcoin early last night as it was breaking Hedgeye trend. I made decent money on bitcoin, over 25% in ten weeks on a 5% position. For me BTC is purely for trading, not to HODL.
I bought some gold positions in past few days. 4% Gold, 1% Sandstorm and 1% GDX. The stocks got crushed a couple of percent last night along with everything else. Want to use the correction to buy more gold miners. Keep positions small as I'm late to the party.
Short term, a lot depends on what Powell does tmr at 2pm. Its his last chance to do anything before the Nov election.
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