BITO Post Mortem

Today, a long trade on BITO would have worked, because a long trade on the broad market would have worked, just as nearly anything would have worked, because “the market” was on a rip. But when a further indicator is added, RelStrComparative, with BITO in the primary panel and a broad market index such as SPY or RSP used as the benchmark, it can be seen that BITO is/was underperforming.

FinViz tracks 2,117 ETFs. Today, RSP returned 3.25% and ranked 428th. By contrast, WEBL returned 14.7% on decent volume. BULZ, SOXL, FNGU, FAS also traded on decent volume and offered fat returns. Putting together a trading universe isn’t going to be as easy as I thought. My inclination had been to pick from a representative universe. But it might make better sense to pick just the funds that offer the most “juice” and whose charts are reasonably “orderly”.

It’s going to be hot in Portland this weekend with temps almost tagging 100. This weekend is also the Family Boat Build for the club I belong to. 8 families will show up Sat morning, and we’ll help them build a 12’ wooden skiff. By about 3pm Sunday, the boats will be ready for a trial launch.

This link is me rowing one of my prams. The graphic on the stern was done by a friend. But boat’s design is my own.…

Here’s another picture of that same boat displayed at the 2022 Portland Boat Show. The little skiff to the right is also a boat I designed and built.…



I like the name of your boat