Election Rally
It has been exactly a week since we have seen Donald Trump become the 47th president-elect. Markets and Crypto have been reacting to the result with record highs and unprecedented growth.
Crypto
My accounts have grown substantially, most notably in crypto, which I believe will easily hit 100k and will have a bull market for the next 2 months minimum. I would recommend buying in $BTC and $ETH. Crypto is mostly seasonal, and historically there has been a 4th quarter run after a halving. Mixed in with Trump’s rhetoric toward crypto, it is a recipe for huge gains.
$BTC ~~ $89,190
Total Return: 35.04%
Options Positions
RIOT, $16 strike, Exp. March 21, +$30
ASPI, $10 Strike, Exp. December 19, -$83
PLTR, $65 Strike, Exp. February 21, -$110
I am looking to close these positions within the next week. Today the market corrected itself, which can be represented in the losses. All of these companies are in the Tech Sector, which has had record years. My only reservation is the SPY has seen 20% returns for the past 3 years. My overall confidence in the market is slowly dying. One of my mistakes is overextending myself with the excitement of a bullish catalyst in the market. Despite this, PLTR just received a 100M contract with the Government. RIOT is dependent on the health of crypto, which is bullish right now. And ASPI has medical, nuclear, and semiconductor applications, all of which are growing industries.
Overall, I am looking to continue buying long call options in the tech and energy sectors. I think the short-term bull market will die off going into December and then pick up during Trump’s inauguration.
