Miners to BTC ratioAn excellent chart if you are looking for a good entry point into miners' shares.
WGMI trade ideas
Bitcoin Miners and Bitcoin oversold togetherNot surprising that they are oversold together. There's lots of ways to play this. I already have exposure to the miners in IREN so I'm not gonna add to that - I've got a full plate of tickers I'm waiting to be overbought. Could've sold 2 early in the day today, but I wait until the close to make buy/sell calls.
Anyway, the miners will be under pressure as long as bitcoin is, so if you can pick the moment bitcoin will reverse, you're better than I am. Oversold = buy and history says eventually it will be profitable. The price here is near the June 11 high that I'll call support here but I wouldn't call it firm support.
I like the ETF here simply because several miners are reporting earnings, so the diversification is safer, imo. Again, if you can pick which miners will fly or crash on earnings, you're better than I am and I wanted more juice, going with indiviual miners is the way to go. RIOT, MARA, CIFR are ones off the top of my head that are currently oversold. IREN and CLSK are not yet, but one more day of this shenanigans and they will be too.
Downside = not as big of a move with the ETF and having to hold it longer brings exposure to fees. 0.75%/yr isn't too bad though.
As always, this is not investment advice. Just one man's opinion. DYOR.
Did you lose faith in the Bitcoin Miners??? WAGMI #WGMIThe Bitcoin miners ETF WGMI
has a lovely setup
you could be picking up cheap miners
slurping that blood!
For summertime profits... If you have the b@lls (& capital of course)
#CupandHandle
Clear as day
for all to see --- Yet sentiment is in the toilet.
Marvelous!
#CLSK
#WULF
#BITF #BITF.TO
#HIVE #HIVE.V
#MARA
#MIGI
#RIOT
#HUT
#GREE
#ARBK
#BTBT
#BTDR
#BTCM
#CORZ
#NILE
#IREN
#DMGI
#CIFR
Short Bitcoin miner ETF at 20.00Three gaps up in rapid succession
Time for a fade
Short WGMI, bitcoin miners ETF @ 20.00
$WGMI - Bitcoin Miners ETF - Printing $ From EnergyNASDAQ:WGMI NASDAQ:MARA NASDAQ:WULF NASDAQ:CLSK NASDAQ:NVDA
So to keep in line with my new “printing money from Solar Energy” series, I came along this gem, an ETF w all of the Bitcoin Miners stocks.
Any financial advisor will tell you an ETF is a great way to trade an entire industry/sector while reducing unsystematic risk, AKA reducing risk associated with one individual company. (I.e, bad corrupt executives, bad accounting practices, bad management, etc.,)
This Exchange Traded Fund (ETF) is a pool of the following stocks;
1. MARA - Marathon digital
2. CLSK -Cleanspark
3. RIOT - Riot blockchain
4. IREN - Iris Energy
5. NVDA - Nividia
6. WULF - TeraWulf
APLD- Applied Digital
CIFR- Cipher Mining,
..and on and on.
This is a well diversified investment for anyone looking to get exposure to Bitcoin mining stocks while Bitcoin is breaking through its current major resistance levels, and I am SUPER UBER LONG all of them.
We are Eventually Going to Make it Bitcoin MinersHOLDINGS:
SMSN LI 80 86,080.00
TSM 711 53,723.16
NVDA 577 87,300.10
RIOT 26,791 121,363.23
AMD 1,146 86,351.10
ARBK 101,865 424,777.05
BITF 225,762 264,141.54
88,278 123,589.20
CIFR 98,267 149,365.84
CLSK 97,259 393,898.95
19,309 31,087.49
DGHI 89,753 94,240.65
DMGI CN 607,264 116,409.92
GREE 26,792 66,712.08
HIVE 77,495 250,308.85
HUT 58,605 80,874.90
INTC 2,394 88,554.06
IREN 38,126 125,815.80
MARA 12,540 70,851.00
MIGI 105,920 112,275.20
SATO CN 116,864 20,162.10
SDIG 72,314 125,826.36
27,681 38,753.40
Cash & Other 2,826 2,826.01
The Fund is an actively-managed exchange-traded fund (“ETF”) that will invest at least 80% of its net assets (plus borrowings for investment purposes) in securities of companies that derive at least 50% of their revenue or profits from bitcoin mining operations and/or from providing specialized chips, hardware and software or other services to companies engaged in bitcoin mining. The Fund will not directly invest in bitcoin, or indirectly through the use of derivatives or through investments in funds or trusts that hold bitcoin.
WGMI , LONGFirst one lost it, -1R , second one lost it but only 0.15R loss , what will the third one be ? So far trading this name I am down -1.15R , lets see if maybe this one hopefully takes that loss out to pasture .
WGMI , LONGAlright back for another go on today's wedge pop ... QQQ held its emas today too .. although very bad breadth 82 new highs and 565 new lows ...
The close of tomorrow will say a lot imo .
WGMI, LONGAlright , first time getting in this after some ETF research recently , this group seems to be doing really well so far this year .. I attached my notes where I explain the logic on that and why I think WGMI is a good way to play and gain exposure ...
Also I keep seeing repeating theme news recently how Bitcoin is finished , so perhaps this might actually be good from a contrarian viewpoint which I often reside around , either way the miners have been doing really well this year . Better than Bitcoin too ...
I am not really a fan of bitcoin or crypto , but I like a good stage 2 uptrend in a leading group and that's all this is for me .
WGMI , notes so I don't forget Looking a potentially playing this Miner ETF vs stocks in same sector
Potentially less volatile than picking a leading bitcoin miner , ( CIFR or RIOT )
Also nicer price structure than some miner stocks I looked into
Stats for review :
WGMI , year to date gain 163% ,
Stage 2
HUT , YearTD 150.99 ,
Stage 1 ,
Short float 7.09% / Ratio 1.06
HIVE , YearTD 165.56 ,
Stage 1 ,
Short float 7.87% / Ratio 4.94
RIOT , YearTD at 292.11% ( second place)
Stage 2,
Short float 21.81% / Ratio 1.73
MARA, YearTD at 246% ( third place )
Stage 2,
Short float 41.33% / Ratio 1.25
CIFR , YearTD at 351% ( first place ),
Stage 2 ,
Short float 20.23% / Ratio 5.25
CAN, YearTD at 60.09 ( laggard ),
Stage 1 ,
Short float 5.15% / Ratio 2.79
Bitcoin YearTD at 82.3% ... clearly the miners are outpreforming BTC .
My favorite is RIOT , I like the way it trades more than CIFR , even though CIFR has largest YTD gain I don't like the way its been rejecting in the daily wicks or its lower cap .
I think bitcoin is in a confirmed early stage two and Miners have performed really well so this should really be a reason to consider focusing on WGMI .
Futures Outlook ( COT data observance )
The futures positions are overall net short and there are lots of leveraged shorts , which correlates to the short levels on the stocks .
Net Positioning to date as follows per bitcoin futures :
Dealers net short -3638 contracts
Leveraged traders net short - 7294 contracts
Asset Managers net long + 7294
I think it's interesting that Dealers and leveraged money are aligned on this one , but there is a LOT of leveraged contracts short and they will probably need to cover if we keep moving up . The odds favor this since it is, after all, in an uptrend. Also, we could see some short squeezes on stocks too ... Overall, I think bitcoin is currently bullish and one of the stronger sectors out there with miners . I should probably make a decision soon, as to if I want to commit trading it now . One con is that it/bitcoin is very susceptible to news vs govt / sec regulation. It should be recognized, and planned for, that a news event could stop you out and gap down pretty good . Like , "no miner's allowed in the US anymore ect ect" . But other stocks can have these same things occur too that being said , I just feel like with bitcoin related stuff , its the wild west still .
I should try to update the comment section with renewed short and futures levels in this >>>>>>>>>
