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I started this one from the local library tonight. I am on Chapter 1: Bitcoin is a Bubble.

I was expecting 'Friday' to be the big sell-off day. But seems the markets don't want to wait that long to puke. Crypto is already on life-support tonight, which means now people need to also sell off Nasdaq equities to meet margin calls on the crypto side too. Seems there is no where to hide...

Longs who leveraged are getting wrekt. It is much harder to put money back into the system after it's been liquidated. But... we shall see. ETH 2.0 is supposed to go live around June, so great time to load up on micro-ETH futures possibly.

ETH just broke down past the 2400 floor we saw the last crash. Putin is doing GREAT for spreading Russian red colors all over crypto :D

All in all, the ARK ETF asset manager apparently lost approximately US$380 million on the Palantir investment so far. https://www.nxtmine.com/news/articles/economics/cathie-wood-liquidates-30-million-shares-in-palantir-in-just-3-trading-days/

Unless you've been living under a rock, the Nasdaq sell-off is causing a lot of margin calls. Everyone with some crypto needs to sell to cover before liquidation of their equities. Ironically, this also fuels margin calls on crypto as well.

Tomorrow is Earnings Call for COIN. If she don't give stellar results, get ready for another 'Meta' crash. Wait for it... wait for it... wait-- Hopefully Cathie Wood manages to sleep tonight.

BOOM!!! Death by after-hours trading...

But... this time it's different!

Pffffft. 60% and 80% draw-downs are nothing. Just use your options-repair toolkit to do a stock-repair strat. See? Simple, you'll be fixed up in a jiffy. Worse comes to worse, just tell yourself that we are in 'Deep Value Territory'. Earnings don't really matter in the new paradigm! By the way...

That's kinda old-news now though... We all knew it was Toby.

The roller coaster ride isn't over yet... COIN's earnings come out tomorrow. If it doesn't over-deliver on expectations, then get ready for another leg-down Friday. (Opens a box of popcorn and waits for the fireworks). Remember everyone... "DEEP VALUE TERRITORY...."

The fund is even worse than when this was taken. Right on schedule...

Most likely others found it too, just no mention of that. COIN is forced like everyone else to do KYC. There isn't a way to get stolen/hacked money off an exchange and into fiat offramps without leaving paper-trails all over the place. Maybe if you get lucky with a tumbler but even that is...

Technically, they've always charged for that IIRC. Over just the last few years they've been cutting and slashing fees/commissions left and right. I think it's a bit unfair to start complaining at this point. Who else gives you such amazing margin and other opportunities that more than pay for...

Todays log: I wake up and my mom tells me that Russia invaded with tanks already. I rush to my computer and wait for crypto to cash down further, instead it slowly keeps rising. Well, I decide I better short PUTs on Ethereum NOW, before someone sets off a nuclear missile and all crypto shoots...

Time to just peek in and see how the bag-holders of 'Meta' are doing...The ones who refused to let this go at 240 hoping the bottom was in. Looks like those who were in denial and expecting a quick re-bound due to an over-dramatic selling reaction, are regretting that decision.

I pulled the trigger this morning. BTC is now up a little at 38K, I believe (for now) we got a solid floor. At least crypto's in the green again across the board. If the Nasdaq train-wrek continues (and it should), I won't complain either...:sneaky:

I only really do my trades with TWS. Didn't know you now get 100 free snaps each month though. I do love how the costs in the business seem to keep going down which is great. There are a lot of cheap-skates I know who would run Questrade right beside IBKR, and keep hitting refresh on the former...

As long as Nasdaq keeps crumbling, crypto will be dragged down with it. Not just to meet equities margin-calls, but due to the negative feed-back loop. The dropping price in crypto also results in crypto margin-calls as well for those who levered up. There is insane leverage in cryptos... goes...