After the big run up each day last week, a quiet week was called for. I chose to stay away from markets. Was a good opportunity to revisit my Rising 10 Crypto strategy
Portfolio News
In a week where S&P 500 did make all time high on Monday but ending with a 0.27% losing week, my pension portfolio rose 1.73%. One third came from De Grey Mining (DEG.AX), one third from marijuana stocks and some solid underpinning from alternate energy. My other portfolio went up 1.77% with a big contribution from marijuna stocks
Big movers of the week were Centrus Corp (LEU) (+33.3%), Canopy Growth (WEED.TO) (+31.2%), Aurora Cannabis (ACB.TO) (+29.8%), Fiverr International (FVRR) (+21.6%), Tilray (TLRY) (+20.9%), Kairos Minerals (KAI.AX) (+19.4%), Northern Minerals (NTU.AX) (+18.9%), Cronos Group (CRON) (+17.2%), De Grey Mining (DEG.AX) (+12.9%), Castillo Copper (CCZ.AX) (+11.1%), Yooma Wellness (YOOM.CN) (+11.1%), KraneShares China Internet (KWEB) (+10.8%), US Masters Residential (URF.AX) (+10.1%).
Biggest surge is in marijuana stocks with moves by Republican legislators to table draft legislation to remove marijuana as a Schedule 1 substance.
https://www.cnbc.com/2021/11/11/cannabis-stocks-rise-on-legalization-hopes-tim-seymour-talks-the-move.html - worth reading the article just to see Tim Seymour's jacket.
The news of the week was the high inflation read - this is not transitory anymore and it is global - too bad my investments on the theme are not really panning out other than being long banks.
Crypto booms
Bitcoin price pushed higher with a move up 11% and finishing the week 6% higher than the open.
What I like about the chart (4 hour chart) is a series of higher lows since the all time high was made a few weeks ago.
Ethereum did make an all time high but could not hold that level. Its chart could well look the same at BTC in a few weeks as momentum builds
Quite a few altcoins surged on the back of the Bitcoin move. Biggest move in my Top 10 holdings was Litecoin ending the week up 40%
Bought
ABN AMRO Bank N.V. (ABN.AS): Dutch Bank. Rounded up an odd lot received in DRP to be able to write covered calls in another portfolio - same price a week later than in my pension portfolio. Price was 4.3% premium to last assignment in October.
Sold
Union Pacific Corporation (UNP): US Railroads. With price opening at $241.01 - above $240 for the 3rd day in a row, my pending order to close a January 2023 220/240 call spread was hit. This locks in a 52% profit on the call spread since March 2021. This trade was part of a call spread risk reversal and I have left open a January 2022 strike 175 sold put. Should that expire out-the-money profit in the trade ramps up 2.45 times.
I remain invested in this portfolio with a small parcel of stock and a January 2022 220/240 bull call spread. This spread is funded with a November 2021 180 strike sold put option - that will expire in my favour this week.
Original trade idea was from Jim Cramer when he was still running Action Alerts Plus portfolio. The top of the spread was his target price - $240.
Cryptocurrency
I did a review of the Rising 10 altcoins - find the 10 fastest risers by market capitalization for 6 months. Time period based on hard lessons from 2019 when my top 10 risers list was filled with ICO wonder kids. I did run this in May this year and got better results - the market is maturing and the ICO froth has subsided.
My video covers concept, process and lessons
Here is a snapshot of the Rising 15. Yellow fluoro column is the current rank and red ring is the number of positions moved.
My approach is to buy the positions when they show strength relative to BTC or ETH. I bought 3 this week
The Sandbox (SANDBTC). Blue ray is the entry. I have staked these coins for 30 days at 12.36% APY.
Velas (VLXUSDT). Normally I buy using BTC or ETH. In this portfolio, I sold some ETC for USDT and used those proceeds for the purchase. ETC were coins that came from one of my mining investments.
The Graph (GRTETH). This one is less pretty - ETH has kept moving ahead. Those higher lows help the idea to get in. Maybe I went early
Cautions: This is not financial advice. You need to consider your own financial position and take your own advice before you follow any of my ideas
Images: I own the rights to use and edit the Buy Sell image. News headlines come from Google Search. All other images are created using my various trading and charting platforms. They are all my own work
Tickers: I monitor my portfolios using Yahoo Finance. The ticker symbols used are Yahoo Finance tickers. Crypto tickers come from TradingView
Charts: http://mymark.mx/TradingView - this is a free charting package. I have a Pro subscription to get access to real time forex prices
Trading: Binance offers a wide range of coins to trade, tight spreads and low fees if you use BNB to pay https://mymark.mx/Binance
Tracking: Keeping track of your crypto trades is a whole lot easier with CoinTracking.info. Get 10% off all your account upgrades https://mymark.mx/CoinTracking
November 8-12, 2021