Portfolio Update 11-7-21
Another fantastic week, Portfolio at All-Time Highs, Raising One (1) Stop-Loss Level
Good afternoon portfolio investors and traders! It was another week of gains for the CFF portfolio, up to +262% from inception, just over 16 months ago. For the week, the portfolio was up +19%.
Here is how things look vs. the Major ETFs:
Portfolio highlights:
The portfolio returns shot up again, up +19% from last week, again drastically outpacing even the fastest rising primary index (RUT +6%).
The portfolio is at +262% overall returns, and this is more than a “3.5 bagger” in just over 1-year.
No positions were stopped this week.
I am raising my stop in one (1) position (see below).
Ethereum Update:
The longer-term premium subscribers might recall that back in June, I provided a projected path for ETH. I don’t usually draw arrows/paths on charts, but this one has played out almost to a T.
From the June 6, 2021, Portfolio Update to Premium Subscribers:
Ethereum:
I rarely like to draw predictions on charts, but I’ve gone ahead and shared something that I think is a possible scenario.
After dropping 60% from the May all-time high level of $4,373, the bounce off the lows has been relatively weak, leaving a couple of long wicks on top of the two weekly candles. The current prices are still about 40% below those May highs, and I would not be surprised by another significant pullback if the bulls don’t show up soon. If there were to be a 2nd leg lower, I would anticipate some heavy support around the area between 2018 highs and the channel demand line.
Sometimes, those double shakeout moves are needed to reset sentiment and build the next leg's cause. Just like a pump needs sufficient suction head to operate correctly, a bull market needs sufficient cause to reach its objectives. I bring this up because I was helping my son fill his fish tank with water the other day. He had started the pump too early with a low liquid level, and we could hear it struggling, as it was running primarily dry. Once he had added more water, it started flowing smoothly. A second pullback to form the “W” shape in the base is like pouring water into the tank to help the pump out - building a better base to work from. Sometimes that “W” even turns into a “W-V,” and the pivot of the “V” is at a higher low. That’s kind of what I’ve drawn with my arrows within the channel.
Again, I want to reiterate that I don’t like drawing prediction arrows on charts, and this is just a possible scenario that I wanted to be prepared for. So if that should happen, I will look for a strong bounce from that area.
Updated Chart:
I have not altered the arrows since sharing them in June.
Today was a good time to reshare this chart, as ETH is working on a weekly close above the prior ATH level from May ‘21.
I don’t know if ETH will continue on this path, but I like that it is poised for its highest-ever weekly close. And I love the fact that there is a PnF objective up at the $19k area, which would still represent a solid 4x bagger from current prices.
Noteworthy returns for the Week:
Winners:
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