Looking a potentially playing this Miner ETF vs stocks in same sector
Potentially less volatile than picking a leading bitcoin miner , ( CIFR or RIOT )
Also nicer price structure than some miner stocks I looked into
Stats for review :
WGMI , year to date gain 163% ,
Stage 2
HUT , YearTD 150.99 ,
Stage 1 ,
Short float 7.09% / Ratio 1.06
HIVE , YearTD 165.56 ,
Stage 1 ,
Short float 7.87% / Ratio 4.94
RIOT , YearTD at 292.11% ( second place)
Stage 2,
Short float 21.81% / Ratio 1.73
MARA, YearTD at 246% ( third place )
Stage 2,
Short float 41.33% / Ratio 1.25
CIFR , YearTD at 351% ( first place ),
Stage 2 ,
Short float 20.23% / Ratio 5.25
CAN, YearTD at 60.09 ( laggard ),
Stage 1 ,
Short float 5.15% / Ratio 2.79
Bitcoin YearTD at 82.3% ... clearly the miners are outpreforming BTC .
My favorite is RIOT , I like the way it trades more than CIFR , even though CIFR has largest YTD gain I don't like the way its been rejecting in the daily wicks or its lower cap .
I think bitcoin is in a confirmed early stage two and Miners have performed really well so this should really be a reason to consider focusing on WGMI .
Futures Outlook ( COT data observance )
The futures positions are overall net short and there are lots of leveraged shorts , which correlates to the short levels on the stocks .
Net Positioning to date as follows per bitcoin futures :
Dealers net short -3638 contracts
Leveraged traders net short - 7294 contracts
Asset Managers net long + 7294
I think it's interesting that Dealers and leveraged money are aligned on this one , but there is a LOT of leveraged contracts short and they will probably need to cover if we keep moving up . The odds favor this since it is, after all, in an uptrend. Also, we could see some short squeezes on stocks too ... Overall, I think bitcoin is currently bullish and one of the stronger sectors out there with miners . I should probably make a decision soon, as to if I want to commit trading it now . One con is that it/bitcoin is very susceptible to news vs govt / sec regulation. It should be recognized, and planned for, that a news event could stop you out and gap down pretty good . Like , "no miner's allowed in the US anymore ect ect" . But other stocks can have these same things occur too that being said , I just feel like with bitcoin related stuff , its the wild west still .
I should try to update the comment section with renewed short and futures levels in this >>>>>>>>>
Potentially less volatile than picking a leading bitcoin miner , ( CIFR or RIOT )
Also nicer price structure than some miner stocks I looked into
Stats for review :
WGMI , year to date gain 163% ,
Stage 2
HUT , YearTD 150.99 ,
Stage 1 ,
Short float 7.09% / Ratio 1.06
HIVE , YearTD 165.56 ,
Stage 1 ,
Short float 7.87% / Ratio 4.94
RIOT , YearTD at 292.11% ( second place)
Stage 2,
Short float 21.81% / Ratio 1.73
MARA, YearTD at 246% ( third place )
Stage 2,
Short float 41.33% / Ratio 1.25
CIFR , YearTD at 351% ( first place ),
Stage 2 ,
Short float 20.23% / Ratio 5.25
CAN, YearTD at 60.09 ( laggard ),
Stage 1 ,
Short float 5.15% / Ratio 2.79
Bitcoin YearTD at 82.3% ... clearly the miners are outpreforming BTC .
My favorite is RIOT , I like the way it trades more than CIFR , even though CIFR has largest YTD gain I don't like the way its been rejecting in the daily wicks or its lower cap .
I think bitcoin is in a confirmed early stage two and Miners have performed really well so this should really be a reason to consider focusing on WGMI .
Futures Outlook ( COT data observance )
The futures positions are overall net short and there are lots of leveraged shorts , which correlates to the short levels on the stocks .
Net Positioning to date as follows per bitcoin futures :
Dealers net short -3638 contracts
Leveraged traders net short - 7294 contracts
Asset Managers net long + 7294
I think it's interesting that Dealers and leveraged money are aligned on this one , but there is a LOT of leveraged contracts short and they will probably need to cover if we keep moving up . The odds favor this since it is, after all, in an uptrend. Also, we could see some short squeezes on stocks too ... Overall, I think bitcoin is currently bullish and one of the stronger sectors out there with miners . I should probably make a decision soon, as to if I want to commit trading it now . One con is that it/bitcoin is very susceptible to news vs govt / sec regulation. It should be recognized, and planned for, that a news event could stop you out and gap down pretty good . Like , "no miner's allowed in the US anymore ect ect" . But other stocks can have these same things occur too that being said , I just feel like with bitcoin related stuff , its the wild west still .
I should try to update the comment section with renewed short and futures levels in this >>>>>>>>>
艾力克~
