Trade ideas are provided as a guide only. Market Matters is not investing in these ideas as we do our other suite of portfolios available here. If trades are updated through the week, these updates will be advised in the morning note and will be flagged as an alert on the home page of the website. Separate emails or SMS messages will not be sent for Shawns Trade Ideas. The ideas are General in nature only.
- Existing positions and past trades can be found on the MM website.
On Sunday morning, we were looking to buy exposure to Bitcoin via an ETF after its more than 25% pullback, but President Trump quashed this idea a few hours ago after again talking up his plan for a strategic crypto reserve. It really feels like he doesn’t want cryptos lower! In one quick statement, all the bearishness of the past week has been forgotten by markets: Trump had vowed to create a strategic Bitcoin reserve on the campaign trail, one of many crypto-related promises that helped fuel a surge in prices until the day of his inauguration. It’s a shame we hadn’t got set before his announcement; it would have been an excellent start for the Trade Idea.
- We don’t like the risk/reward toward Bitcoin ~$US94,000; hence no new Trade Idea.
- Also, we are cancelling our resting bid in the IEU ETF and may revisit it in the coming weeks.
