GBTC: If only….

If only my broker had shares of GTBC to short, I would. GBTC (Bitcoin Investment Trust) is trading at the top of this large price channel with powerful negative divergences in place. More importantly, this ETF has once again gotten way ahead of the underlying (Bitcoin) just as it did at these two previous reaction highs just before sharp sell-offs kicked in as shown on the second chart below.

My primary broker is Interactive Brokers, which typically has the best availability of HTB (hard-to-borrow) shares available for shorting. In fact, the last time that I highlighted GBTC as an attractive shorting opp was back on Sept 1st, along with the chart below. From there, GBTC plunged another 42% over the next 7 trading sessions. Unfortunately, like today, my broker didn't have any shares available to lend for shorting. However, I share this for anyone that is able to short the shares today (or possibly later this week or next) as well as for anyone long GBTC that has been wondering when & where to take profits. I would also like to hear of any brokers that do have shares available for shorting.

2017-11-29T14:58:57+00:00Nov 29, 2017 2:58pm|Categories: Unofficial Short Ideas|Tags: |2 Comments


  1. jegersmart November 30, 2017 10:41 am at 10:41 am

    For me bitcoin is not really tradeable. I have 2 BTC I mined 6.5 years ago, I think thats it for me tbh….:D

    • rsotc November 30, 2017 11:17 am at 11:17 am

      Wish I had just one bitcoin from 6.5 yrs ago. 🙁
      ..or at least wish my broker had shares of GBTC for me to short yesterday as it’s already dropped 20% since then.

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