Monthly Investment P/L: +HK$167,000

Yet another great month – Stocks continue their V-shaped recovery, and bitcoin is slowly creeping back up.

Gold hasn’t really moved much but it isn’t moving down either, so that’s fine.

Nothing too spectacular but just another good month in a continued bull market.

Current Portfolio:

HKD/USD cash: 2.37% (4.57%)

HKD shorts: -2.87% (0%)

USD stocks: 34.39% (32.27%)

Bitcoin (USD): 37.37% (31.0%)

Gold (USD): 57.44% (55.1%)

YEN cash: 4.83% (3.04%)

JPY shorts: -33.53% (-25.98%)

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Continuing with the increased leverage, same as last month, a lot deployed in bitcoin, bought some more gold as well.

Haven’t really bought US stocks but it’s been a strong recovery upward and I haven’t been selling either, so it’s creeped up some by itself.

Also started putting just a tad of HKD shorts, just enough to balance out the HKD cash. The HKD rates on IBKR has dropped to 2.5% so it’s cheap enough and I would be happy to take just a little.

US Equity

So it is back to ATH and broken through – I have been doing a little bit of selling although not too much.

I am hesitant to sell because the market is getting pretty bullish now, and it can be a while before any kind of reversal.

In any case though, if it gets too high I will start unloading more.

The “fear/greed” gauge has US stocks at extreme greed now, while both bitcoin and gold are neutral – so stocks is actually probably the worst buy at this moment.

Extreme greed can last a while though so I will unload slowly.

Gold

The whole middle east war thing had it jump up a bit, but then quickly reversed.

Overall another boring month for gold – which is okay though since risk assets are moving up.

Gold is serving its exact purpose of holding its ground while other things move up.

Crypto

Slowly moved back up to the 108-109k range.

I actually wrote this late on Jul11 and it’s now broken ATH recently.

Let’s see if it gets heavy around this ATH again, or if it’ll actually break through and move up a step.

If it does, maybe 120-130k would be easily achieve, or even 140-150k is within the range of possibility …

USDJPY

Nothing special.