November 14, 2018 Market Update – Nothing is immune from the strong USD, not even bitcoin

I have uploaded a podcast for November 14, 2018. Click here to go to the show archives page to listen and look at the relevant links or you can listen on the link below. You can also right mouse click here to download the podcast.

-(Yay!) Gold tests $1,200 as predicted, but receives a bid this afternoon and it coincides with bitcoin’s collapse.
-We predicted the rise in the cryptos last year and the subsequent collapse this year and made and saved ourselves tons of money. It was all determined by the chart and market action. The markets were too bullish and we knew the downside would be relentless.
-If you invested in the cryptocurrencies and found all your knowledge and wisdom off the internet, how has that worked out? Has the internet been a wealth equalizer or a wealth extractor?
-Blockchain has a future. Jamie Dimon says so. Ask yourself this question; Who made Jamie Dimon into the anti-bitcoin spokesman? Here’s a clue; it wasn’t Jamie Dimon. The crypto shilling was too outrageous and the bullish sentiment was about the highest I had seen since the dot.com bubble.
-All of the hopes and dreams of bitcoin are already reflected in the price.
-FUD has nothing to do with BTC’s collapse. The refusal of the crypto holders to see the truth about what they were holding cost them dearly. Think of the cognitive biases at play.
-The people promoting bitcoin cash and the hard forks are scumbags. They are not your friends and love taking your money.
-The markets are all correlated in the long-term. Nothing is immune from the strong USD, except the USD.
-I wouldn’t short US equities. Even after the drop they are still greatly outperforming all other equity markets.
-Treasuries and US equities receive a bid from the strong dollar. If the dollar were weak, yields would be higher and stock prices would be lower.
-By controlling my confirmation bias and cognitive biases I was able to do an about-face on oil by October 23rd. I admitted my mistake about oil remaining firm and told you all that oil could test the 200-week mva of about $52.50. I saved a lot of money by admitting my mistake and remaining flexible. I keep my trading accounts intact.