Financial News vs. Noise
Today we add to the T-REX product line with the launch of 3 new 2x long products: 2x AAPL (AAPX), 2x GOOG (GOOX), and 2x MSFT (MSFX). These are the only 2x single stock ETFs on the market. For more information:
https://www.rexshares.com/trex/
We are also pleased to announce that the TREX line has officially gone over $100M in assets.
In the news:
Matthew Tuttle's Unraveling Market Myths
How to think about bitcoin ETFs and your portfolio-Yahoo Finance
Matt Tuttle of Tuttle Capital Management, an “ETF guy” who has filed for approval for a 2x leveraged bitcoin ETF, puts the number a little higher. “I would look at bitcoin the same way you look at other ‘alternative’ investments, so for most, that’s 5-10%,” he said.
“All things being equal, cheaper is better,” Tuttle said, a sentiment widely shared.
Nice Interview by Darin Tuttle (No relation)
A Conversation with Justin Bernier: Balancing National Security and Emerging Markets
Today is CPI and the market seems to be expecting a cool number. We added a bit to gold miners (GDX) and metals (TECK) just in case, but I am never a big believer in taking big positions ahead of binary events, much prefer to read and react. Watch gold and Treasuries after the announcement as the first move in equities if often wrong and those assets will tend to lead you to the correct direction. Another Fed head yesterday, NY president Williams, who indicated there will be NO March rate cut. Of course the market seemed to ignore him. He also said this about QE:
“…the FOMC said that to ensure a smooth transition it intends to slow and then stop the decline in the size of the balance sheet when reserve balances are somewhat above the level it judges to be consistent with ample reserves. So far, we don’t seem to be close to that point.”
Yesterday’s rally was pretty much just Magnificent 7. I continue to believe you need to buy these stocks on dips. My sense is that today’s action will be in the commodity names and the unprofitable short squeeze names, long or short.
The big news yesterday was the approval of the spot Bitcoin ETF. At least for now this doesn’t seem to be impacting Bitcoin much, but it is impacting Ethereum. I am no crypto expert, but our head trader is. He believes that people are selling Bitcoin for Ethereum and we see a continued rally there FWIW. I will wait for the ETF.
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Matthew Tuttle is the Chief Executive Officer and Chief Investment Officer of Tuttle Capital Management, LLC.
At Tuttle Capital Management (“TCM”), we want to help educate investors about different ways to allocate and manage assets. TCM strives to create innovative portfolio management tools coupled with investment strategies designed to help mitigate risks and potentially enhance returns.
The views and opinions expressed herein are those of the Chief Executive Officer and Portfolio Manager for Tuttle Capital Management (TCM) and are subject to change without notice. The data and information provided is derived from sources deemed to be reliable but we cannot guarantee its accuracy. Investing in securities is subject to risk including the possible loss of principal. Trade notifications are for informational purposes only. TCM offers fully transparent ETFs and provides trade information for all actively managed ETFs. TCM's statements are not an endorsement of any company or a recommendation to buy, sell or hold any security. Trade notification files are not provided until full trade execution at the end of a trading day. The time stamp of the email is the time of file upload and not necessarily the exact time of the trades.
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