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Another Dot Com Bubble or Technology Boom?

By Bear Bull Traders  |  
Andrew's Newsletter  |  
Nov 17, 2021

Dear Traders,

Hello from Istanbul, Turkey. I am here in this beautiful and ancient city visiting some family members and (of course!) traders. I will be back in our Vancouver office next week, but for now, enjoy a picture of me sitting below Kilimanjaro summit trying to catch a short on Lucid!

Thanks to the volatility in the EV sector, this morning was a great day to be trading. As you know, electric vehicle mania has returned and once again there is lots (and lots) of volatility in this sector. Lucid, a pre-revenue electric vehicle manufacturer, provided a nice trading opportunity today. With a late entry, I shorted for a 1-minute Opening Range Breakdown. You can watch the recap that Brian and I posted here.

Rivian Automotive Inc. (RIVN), the electric vehicle maker and Tesla competitor, has created much buzz lately. It IPOd last week with plans to produce an electric pickup truck. Rivian is valued at $120 billion – and that makes it more valuable than Ferrari, GM, and Ford – companies that have been in business for over 50 years. Oh, did I mention, Rivian is also pre-revenue too!

I am not sure how this can be sustainable in the long run, but in the short run, it is creating some awesome trading opportunities for BBT’s traders. Last year, about 20% of the companies which IPOd made money. This ratio is very close to what was happening at the peak of the dot-com bubble. Are we in another dot-com bubble? Who knows.

Tonight, Neda is continuing her very beneficial webinar series on developing a mindfulness routine and how important that is for high-stress jobs like trading.

On Thursday, Thor will be offering his regular evening mentorship session and, on Friday, Jarad will be hosting his weekly crypto mentorship session.

To your success,
Andrew

PS2: Have you had the chance to try out our free replay tool? It is a web-based stock trading simulator that lets you replay the market, tick by tick, for free. You can check it out here. Simon and Aiman send out three weekly emails with homework and trading opportunities so you can practice at whatever time works best for you. If you haven’t already, make sure to add your name to their distribution list by submitting your email address in the appropriate place on our stock trading simulator site.