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Market Lab Report - GBTC buy signal - In today's webinar...

From Dr K:

I mentioned in today's webinar that I would buy precious metal ETFs over various gold and silver stocks. I wanted to underscore the point that major ETFs such as GLD, SLV, and their 2x and 3x equivalents are a better bet for two reasons. First, there is virtually no gap down risk in terms of losing half their value overnight. Second, if you want more time value/bang for your buck, buy their 2x or 3x equivalents. Further, junior gold miners are some of the most volatile but with some of the largest upsides. NUGT and JNUG offer some of the largest upsides when gold is in an uptrend.

Secondly, I mentioned that bitcoin is the only instrument in the history of speculation where I would buy weakness because it is the only open-source, decentralized, global innovation that moves borderlessly and frictionlessly everywhere on the planet that has ever existed. Anyone can use it where there is an internet connection. That said, I dont like to catch falling knives so I personally prefer to wait for some indication of stability. For example, bitcoin is rallying today because President Xi Jinping of China finally came out and said he fully supports and sees the advantage of blockchain technology. This would be such a buy point. Of course, there's no guarantee that this defines bitcoin's low in this bull market pullback, but odds certainly do favor this as a logical low. Thus, BTC being at a buy signal here implies GBTC is also at a buy signal.

GBTC was trading under its 200-dma but now has rallied above it:


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