Magnus Core

SVB situation appears to have inspired bailouts to be considered by the Fed. Removing remaining USDT exposure from account (about 13%) and placing in crypto.

Closing USDC position and putting into most oversold lines. A tactical move to reduce counterparty risk. USDT position remains on account. We don't believe the selloff is over yet - counterparty risk musty be respected.

Taking the account to c. 25% stable coins.

Minor rebalance on the account - moving 10% slice of the assets to stable coins. Will rebuy crypto on price pullback.

putting a major rebalance on now - done slow.

Buying ISO20022 compliant/close to compliant names. An event trade to capture upside from favourable SEC vs. Ripplelabs outcome. Once done will put P&L back to the small cap lines which is the core strategy.

Minor rebalance initiated now. There's no reason to be on the sidelines here, looks like a comfortable rally. Magnus will remain long alts until... We're not. It's very possible we'll see BTCUSD at 31K early September.

Quick look at market structure just now, nothing screams "rally is done!"... Magnus remains comfortably long high beta alts. Reassess later in the week. 

Minor rebalance completed today. Holding high beta alts into next week, when we'll reassess the account.

Looks like crypto will have a good run higher, calling BTC at 32k USD by end of August. 

Doing a minor rebalance back to target, taking some profit on $DYDX, adding $FET and $ZEC. Will remain long alts for next 3 weeks, at least, and reassess at that point.

Magnus will be long high beta alts into Friday, at least, when we'll reassess the account.

Expecting a clean run on BTC up to c. 31k.