Wow, what an incredible start to the year! Within the first week we saw marijuana stocks go up by 1,000%, and I’ve nailed 5 profitable Bitcoin trades in a row. Unfortunately, e-mini futures and stock indices have been a little slower, but I expect that to change this week.
Recreational marijuana became legal in Colorado on January 1st, 2014. Apparently, their sales were through the roof with some stores reporting over a million dollars in sales. This sent marijuana stocks soaring by 500% – 1,000% in just a few days. Some people asked me on Twitter today if they should be buying now. My response was “Hell No!”, because I was actually looking to short the pop.
In the video below, I talk about how you can find the best spot to short an over-extended stock after it’s gone “parabolic”, or shot to the moon. And this trade setup is straight from the TraderFormula Course. The key here is anticipation — To understand what the mass majority of people are thinking and doing, then take the opposite side of the herd mentality.
Nobody really knows how the whole “legal marijuana” thing is going to play out, but it’s definitely going to be a fun sector to trade over the next few months.
Incredible Live Bitcoin Trading – 5 Homerun Trades In A Row
Over the past couple of months I’ve been live tweeting my Bitcoin trades, and posting my predictions on tradingview.com. If you look back at my charts and tweets, you’ll see that I’ve absolutely NAILED my past 5 trades.
Bitcoin has made for some easy trading, because there’s a lot of “dumb money” in the market right now. In other words, people are just making emotional decisions throwing money all over the place, which makes for a great environment for day traders.
Check out this video where I show my latest live Bitcoin trade, and how you can spot emotional panics in the market:
Here’s the latest short I took through Bitfinex. You can press play on the chart to see what happen after I made that prediction.