Bitcoin Looking Constructive While Macro FrownsA confirmed Red Dot appears alongside some pretty solid bitcoin price action. Our TBL Model Portfolio tracker is here!
Dear Readers, This week started with a real conundrum. Planning out my week with pen and pad in hand, I wondered what we would do if Monday morning brought about a confirmed Red Dot. After all, our data and methodology was showing that it might happen. And most importantly, the bitcoin chart started to look solid. One of our sharp TBL Pros pointed out last week what we have ourselves been pondering. TBL Liquidity is flatlining because the underlying components balance out to minimal changes, so why not avoid BUY and SELL signals when our TBL Liquidity Indicator, our ultimate “swing” signal, is near zero? On the surface, we think it is a good idea. After all, why lead the TBL Pro in and out of positions when the signal appears to be weak, not strong? I examine this and present my conclusion, at least for now. It would also be easy to take this mini-rally in bitcoin and suggest that our entire methodology is incorrect, but that approach lacks discipline, which I’ll explain. I also discuss what is happening in India and relate it to US domestic and international policy, which appears to be unravelling for the White House but may instead be much more devious. My “Spidey senses” continue to perceive a dollar squeeze-type financial pinch and/or crisis, so we’ll pull on that thread as it appears. Before I begin my letter in earnest, we want to point you to the official launch of our TBL Model Portfolio tracker on TBL Pulse. You’ll see that it is already underperforming its benchmark, as we started ourselves “on the clock” July 1st and tech names have severely lagged during July. Article brought to you by:
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