Friday Finance 5/19/2023: Keep your eye on the ball
It's that time of year when life feels a bit like the shell game. There is so much going on and so little time to take care of it all.
Funny story... I walked into my office this morning and I was going to open my blinds and I thought to myself "why is there a deck of cards on my counter top". I didn't think much more of it, then I sat down to write this post and when I went to Pixabay to look for shell game images, the only ones they had were from shutterstock.
Then things just kind of clicked. What's the shell game but simple three card monte. Why not make my own image? I actually prefer using my own stuff anyway.
So here we are. It's Friday and that means I will be posting about finance today. It's been a bit of a dull week quite honestly. BTC is finding a new home in the $26,000 range, and the SEC is being as predictable as ever in their second battlefront against Coinbase.
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.
Merger
Probably the biggest news for me this week was the fact that my credit union merged with another one. One of the reasons I moved away from the big banks was because I had gotten sick of some bigger bank coming along and buying the other one out.
Credit Unions offer much better rates and as far as I knew were immune from that sort of thing. Then this happens. Needless to say, I wasn't too happy. Last weekend was the cut over to the new system and Monday morning we should have been able to access the new system.
Unfortunately, they didn't give good directions and I got locked out of creating my new account. I made several phone calls only to be told I had to wait 24 hours.
Long story short, I was able to get in the next day, but this really hasn't given me much hope that credit unions are any better than the big banks. They could have easily added a single sentence to their web page that would have resolved all of this, but they chose not to.
Today is our first payday in the new system, so we will see how that goes. Hopefully, I don't need to spend my morning on the phone with them again.
FSM and KGC
On the silver and gold side of things, FSM has taken a bit of a dip over the past week. I am still okay because I bought into Fortuna Silver Mines at $1.65 per share, but it took a 30 cent dump yesterday to be sitting down at $3.43 per share now.
Likewise Kinross Gold took a bit of a dump yesterday too. I had been sitting pretty even on that investment, but now I am down. It looks like both gold and silver mining stocks took a 3% hit yesterday.
I am sure some of my silver and gold stacking friends probably have some great reason or market analysis on why that happened. I haven't had time to dig into it myself.
New Life in AW
I have been "playing" Alien Worlds since the launch. As a land owner, I have been earning a steady stream of TLM (ingame token) pretty much every day. Really, the game is just a mining clicker right now, but people continue to play it and bot it.
I received word yesterday that one of the tools in the game had risen in resale value from $380 to $2800 over the last couple of days. More specifically since the Alien Worlds team changed the TLM mining algorithm.
Of course, I don't own any of that specific NFT, but it gives me a little bit of hope that there might be some recovering coming to the game in the year leading up to the next bull run. I'd love to see the price of TLM and WAX pump quite a bit. Both of those tokens are on my soft target list for the next bull run.
Soft Targets
Speaking of soft targets, I started making some of those to prepare myself for coming bull cycle. I did a really poor job of taking gains during the last one and that means I pretty much ended up holding the bag by the end.
With a few of my targets already set, I think I need to look at the rest of my holdings and make some additional targets for those tokens. I want to make the right moves so I can maximize my earnings in the next bear.
Do you have a fixed plan or soft targets for the next bull run?
For example, one of my soft targets is, if/when TLM hits a price of $.25, I will sell 40K of it. That still leaves me plenty of tokens if it happens to go higher. Given the token is only at $.0165 right now, $.25 might be a bit of a stretch, but it could happen...
Likewise, another of my soft targets is if/when WAX hits $.50, I will sell 20K of it. Again, that leaves me plenty in case the price moves higher. I think $.50 is a conservative estimate. The token sits around $.07 right now, but last bull it reached near $1.
Keep your eye on the ball
Without spending most of the day on Google researching it, I wonder if that phrase had more to do with the shell game and less to do with sports as we normally associate it. There is a lot of stuff going on right now in the crypto space.
Sometimes, it feels like we are being attacked from all angles. It can be easy to lose hope and think that it isn't worth it.
I do believe that if we hold on, things are going to get better. We just need to keep our eye on the ball and not let the shuffle of life, the SEC, or any of the other noise distract us from that final goal.
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I had to do a double-take for a moment there that it was Friday! I have some similar soft targets like yourself for Wax. I am hopefully it might get back to $0,5 when I see the gas fees on ETH and other layer 2's. Although Polygon seems to be better.
Polygon is another one I need to make some soft targets for. I am sitting on a bit of MATIC that I acquired through various means. I still think WAX has a ton of potential. It has kind of stagnated, but the room for growth is there.
I keep feeling like the next bull run is going to start before I can get into something heavy. oh well, they come and go.
Yeah, I mean a lot of people are saying 1 to two years from here, but I feel like there are small hints it could happen sooner. Who knows!
If it could hold off a while longer. I need to get some things in order first 😀
I am good either way, but I understand! Best of luck to you! I think you probably have plenty of time!
do believe that if we hold on, things are going to get better. We just need to keep our eye on the ball and not let the shuffle of life, the SEC, or any of the other noise distract us from that final goal.🥰🥰🥰
Yeah, for sure. I think eventually the SEC will have to capitulate, but they are going to make it a show until then.
Ahh, I see. So that's the background as to why you were locked out. I didn't think credit unions would merge with each other either. I thought credit unions were nonprofit. Shouldn't that make them undesirable as targets of a corporate takeover or merge? Hmmm.
That phrase is one I teach. It comes pretty directly from baseball only. But it certainly goes well with the shell game, doesn't it?
Yeah, I definitely could see it going back further if someone were to study the entomology of it. Then again, it first perfect for a lot of things I guess. Yeah, it didn't help that I rage clicked the enroll button when I first couldn't get in. That is what actually got me locked out. It's all good now though. I still have more faith in them than I do the big banks. I guess if anything, this makes them a bit more liquid now having more members and more locations.
I've tried Alien Worlds a couple of times, but just found it very dry - I guess if you invest into it (which I havent) then maybe it works better. I just found it really dull.
You are right. It's just a miner. They never put out a true game and they now have passed that on to the DAC. It's dumb. I have large holdings though, so I hold out hope.