One of the reasons why I’m purely sticking to levels now and not using fundamental reasons to justify positions is because everything is in flux.
Today BTC is correlated to gold, tomorrow it’s back to being levered SPX. Sure you can make judgement calls ahead of time on what trend it will take in the future, but i think it’s too hard a game to play. Fejau’s article (https://x.com/fejau_inc/status/1912576594083971147?s=46&t=5ENYugi2K7TVQMcNu6dX5A) makes the most sense to me from the long side, but i can’t risk much capital on this thesis alone.
Right now gun to head I’m not a buyer of gold, and not a longer of SPX so I shall elect to do nothing and keep book nets hedged.
As always, we let price show us the way.
Today BTC is correlated to gold, tomorrow it’s back to being levered SPX. Sure you can make judgement calls ahead of time on what trend it will take in the future, but i think it’s too hard a game to play. Fejau’s article (https://x.com/fejau_inc/status/1912576594083971147?s=46&t=5ENYugi2K7TVQMcNu6dX5A) makes the most sense to me from the long side, but i can’t risk much capital on this thesis alone.
Right now gun to head I’m not a buyer of gold, and not a longer of SPX so I shall elect to do nothing and keep book nets hedged.
As always, we let price show us the way.