Sell in May and go away fits nicely into this year for me.
Unfortunately, there is nowhere to go due to Covid.
However, rather than literally going away, I have stayed in cash since selling all my Crypto.
I freely admit, I really do miss being party to Bitcoin, that is no cause to invest unnecessarily though.
For a currency that apparently can’t be manipulated, Elon the total prick Musk managed to do exactly that.
It (bitcoin) has left me wondering if there is anything that the governments and social media really can’t manipulate nowadays?
In saying that, has bitcoin really been manipulated? We don’t know for sure. Maybe it is and has been doing what it has always done? But the price certainly reacted to what Elon Musk had to say about it.
I still really hope that I get an opportunity to reinvest in Crypto though. I was expecting a much lower price than where it is now [$45000] so maybe I made a mistake selling? Let’s see what happens come September.
At the moment though I really have no clue as to where the price is heading. So best to just stay out of it for now.
Since going to cash I have thought about what to do next far too much.
You normally overthink when you have a losing run. I seem to be doing it after my biggest gains.
Vince Stanzione is very bullish on certain sectors but I still think I will wait until September before I start buying anything again.
Maybe I’ll just think some more???
No seriously, I have been thinking about doing more spread betting again rather than buying and holding stock.
Spread betting can be a good way to make and take profits on a more regular basis.
You also don’t need to use huge banks either. A few thousand quid is enough.
Plus, you can do it all on one platform via the likes of IG and you don’t have pay for any extras like charting packages or funds transfer costs.
So maybe I’ll buy stock with my bitcoin profits and do some more spread betting come September.
For now I’m enjoying a rest.