If you've been reading my stuff for a while you know that in the interest of full disclosure (and to avoid being accused of talking my book) I tell you guys about the moves I make in the market and what positions I buy and sell. What I don't always mention is my current trading philosophy, mostly because I feel like it's an opinion and opinions are like...well, you get where I'm going with that. In this case, however, I think it's important to note that I don't have much faith in this protracted bull market and to that end I've been trading with very tight trailing stops. There was even a time back on March 21 where I was completely flat for the first time since 2009, after my trailing stops on GOOG got hit just above $1,200.
I mention this in the hopes that you'll understand the reasoning behind my liquidating the entirety of my Bitcoin holdings last Thursday at $531.24. It's not that I no longer believe in the viability of Bitcoin. It's just that I think Bitcoin is going to cool off a bit following the recent IRS ruling and the fact that it was pretty overheated for the better part of the past year. I still believe in the technology and what it represents, and I fully plan to reinstate my position when the price drops off to a level I think is a little more reasonable (probably back in the $100-200 range).
Now, I realize I'm probably going to take some shit for this. Bitcoin was among the most successful investments of my life; I bought my very first Bitcoin for EU50 cash at a Paris tech Meet Up a couple years ago (represent, nerds). I've paid as much as $812 for a Bitcoin, and I've owned them everywhere in between. Yes, I've even used them to purchase things. In a nutshell, I made good money with it.