New BTC Overlay
The best I can tell, BTC is trading in line with garbage stocks like PTON. Obvious short squeeze the last couple of days.
So I lost money trying to short BITO over the weekend and made it back by shorting PTON yesterday, lol.
In any case, probably done playing with BTC for a while, I'll stick to shorting garbage that I'm more familiar with. The way to play BTC is like any garbage stock, short the pumps then flip. Maybe hold just a few put contracts in case it tanks, but don't get greedy.
CPI release tomorrow, so that can tank the market, but I think the numbers will be better than expected this time. No positions, all cash for CPI.
So I lost money trying to short BITO over the weekend and made it back by shorting PTON yesterday, lol.
In any case, probably done playing with BTC for a while, I'll stick to shorting garbage that I'm more familiar with. The way to play BTC is like any garbage stock, short the pumps then flip. Maybe hold just a few put contracts in case it tanks, but don't get greedy.
CPI release tomorrow, so that can tank the market, but I think the numbers will be better than expected this time. No positions, all cash for CPI.
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