The Coming Boom in Cryptocurrency-Related Stocks?

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SYNOPSIS

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Investing via chart patterns has always been an alien concept to us. It’s like tea leaf reading, or examining the entrails of a sacrificed goat. Yet this has been an investment methodology for probably a century or more. If you believe that your success in the markets is due to identifying chart patterns, we’d love to hear from you; because we think that we can identify something else that you’re doing that explains your success in a more parsimonious way.

PTP… Our ProfiTrend Portfolio APAR (annualized price appreciation rate) declined to 226% from 254% a week earlier. The S&P 500 APAR lost 9 percentage points, while the S&P/TSX Composite Index APAR fell 6 points last week.
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Last Week in the Major Indexes… Most of the major indexes declined on a one-week basis, dragging the trend values lower. S&P/TSX Venture Index bucked the trend with a 0.6% gain over the week.

Last Week in the Sectors… There wasn’t much rotation among the sector rankings relative to last week. The notable exception is a strong boost in Health Care within the S&P/TSX Composite Index.

PTA Perspective… The Coming Boom in Cryptocurrency-Related Stocks?
In spite of huge volatility, the price of Bitcoin, Ethereum and other cryptocurrencies keep climbing exponentially. Yet many investors (like us) in the general equities space are unwilling to participate, since cryptocurrency is a complicated concept, and we understand stocks and ETFs much better. Besides, we’d have to open another account with a cryptocurrency dealer that we know nothing about. This week we explore a few opportunities, where you might profit from the cryptocurrency craze by buying common shares in a cryptocurrency-related company with a typical stock listing.