After a 3 month hiatus, Chicken Genius Singapore aka Ken Teng is back on YouTube to update on his buy positions, market outlook, and an exciting opportunity to load up on crypto before it moons again.
Buy & Options Positions
He started by sharing that he has small positions in Tesla and Palantir (bought around $14) but his conviction was not as high as before. He is using options and setting aside $100k for each stock and that brings him around $10,000 per month.
While he has not elaborated on what strategy he used, my guess is that he is using the cash-secured PUT strategy. Based on the screenshot above, it is likely he sold an Out-of-The-Money (OTM) PUT option on the stock, which would earn him the premium if the stock rises, stays sideways, or drops a little (as long as it is not below the strike price).
You can read more about this strategy in this article:
Introducing SOP Options Trading Strategy
Market Outlook
Ken thinks that in the next few years, short of another Fed’s injection of trillions of dollars, the stock market is unlikely to double. This is because the money supply is down and the interest rates are high and that suppresses everything. He mentioned that had the Fed not saved the banks in March this year, the entire financial market would have crashed. He also advised against having a permanent bearish stance as long-term asset prices will go up as a result of inflation.
Optimism In Crypto
Ken also shared that the crypto market would go up exponentially in relation to the rise in the stock market. Thus, he has moved his money out of the stock market (due to his negative stance on its outlook) and is bullish on crypto instead. His bullish sentiment is fueled by the impending launch of the first Bitcoin exchange-traded fund (ETF) and Ethereum Futures.
Ken feels that now is a once-in-a-lifetime opportunity to catch the runoff of Bitcoin, prior to the launch of Bitcoin ETF, akin to the runoff of Gold when the Gold ETF was launched. The below chart was his prediction of how the Bitcoin price would move in the coming future. There could be one last shakeout of the Bulls before the price moons. According to Ken, Bitcoin has a very high correlation to the performance of the crypto market. So, if the crypto market turns bullish, Bitcoin will follow suit.
You may watch his full video here:
Concluding Thoughts
It is really nice to see Ken back on YouTube posting videos again. He was the person who convinced me to invest in the US stock market (Tesla in particular) and paved the way for my options journey. While I am in the red for my net returns in options trading (due to me making really silly mistakes), I am still grateful to him for introducing me to options trading. I am inspired by his selfless sharing and hope to do likewise with this humble blog of mine.
Lastly, before we get too excited to follow our favorite guru in what they advise or do, I hope we do our due diligence and manage our risk properly. We may not have the millions to lose as compared to the gurus we followed and no one can really time the market perfectly. You can read about my disastrous experience of following the wrong guru’s advice here.
I hope you find today’s sharing useful in some ways. All the best!
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