Starting Off 2022 with Volatility / El Salvador’s President BTFD
If you were not live in the chatroom this morning, here is a link to the recap that Brian and I posted earlier today. You’ll see how we traded a bounce on QQQ and BABA. In addition, Aiman and Simon have uploaded their weekly REPLAY video that can be seen here. If you have not already, please take the time to check out our new web-based REPLAY platform which is free for all, and when you are at the site, do ensure you subscribe to Simon and Aiman’s email list. They will then send you weekly homework and lessons. Also feel free to share this new REPLAY feature with others so that they too can have an opportunity to improve their skills.
The market has been weak and rising interest rates are bad news for overvalued technology stocks (represented mostly in the index fund QQQ). However, some traders and investors, including myself, remain bullish on the technology sector. We know that a small increase in the interest rate because of a strong economy will have little effect on the tech giants.
This week’s volatility has continued in all sectors, and crypto assets that are supposed to be the store of value against fiat currencies like the USD got hit the most, with Bitcoin dropping to around $40,000. I wonder what the President of El Salvador is doing now given that Bitcoin is trading at around $40,000. According to him, he was using his nation’s sovereign funds to buy the fucking dip at around $48,000. What a day to be alive when one person from his phone is buying the fucking dip on behalf of an entire nation.
I hope everyone has had a great week. As you know, volatility is high, and the majority of Stocks in Play, stay in play. All you need to do is compare the current daily volatility of Tesla with what it was last year. We hope to see all of this volatility continue! As ever, you are welcome to join BBT and trade live with us in the chatroom. If you have any questions, please sign up as an Intro member and attend our onboarding class that is held at 7pm ET every Monday. We will walk you through our community resources and show you how to best make use of everything we offer.
I am looking forward to seeing you all in the chatroom and/or our onboarding session for new members.
To your success,