My apologies for missing the trading day yesterday, but I know you all had a treat when Brian and Thor traded the Open session. Today, the market opened flat, but I managed to end the day green after 3 small losses on AMD. That is the perfect example of why it’s important to keep the share size small in uncertain times and a choppy market, and then increase size and add more when you have more confidence in your winning trade. You can watch my recap here.
Today’s Global News and Financial Recap
As I am writing this newsletter, the beaten up stock market is trying to hold some levels. IWM (small caps) and QQQ (technology sector) are well into bear market territory and SPY and the Dow Jones are hovering in correction territory with drops below 10%. The chart that follows is courtesy of our new and still under development website, www.TradingTerminal.com
The notorious Federal Reserve meeting is tomorrow and traders expect them to raise rates by 50 basis points (0.5%) to fight inflation. That would be the biggest rate increase in 22 years. Meanwhile, Treasury 10-year yields are now hovering around 3%, levels that we haven’t seen since 2018. Traders expect the Bank of England to also raise rates when it meets on Thursday. We have several big names reporting earnings today and tomorrow. Make sure to check out the Terminal for the full list.
At Bear Bull Traders…
Ardi and I are going live again on our YouTube channel to see the big names’ earnings (including AMD). Do check us out live at 3:45pm ET to review the market and earnings. I am certain that Ed will be trading AMD in his room, so please also join him for his earnings after-hours trades. Ardi is having a busy day, which includes giving a presentation for our Tuesday Strategy webinar at 8pm ET titled: Implied Volatility Demystified.
Ardi and I are also going live on Twitter Space on Fridays. Please follow us, join our Space, and come and have a chat with us on all aspects of trading.
At Peak Capital Trading…
As mentioned, the 5th boot camp is sold out. In fact, it’s actually a bit oversubscribed. We are preparing the onboarding session for next week. We are looking forward to working with all of our new traders. Thanks for the amazing feedback and success stories you have shared with me so far. If you have more comments you’d like to share, please reply back to Norm or me.
To wrap up my ski season, on Sunday and Monday I completed a ski mountain traverse about 2hrs north of Vancouver. It was a heli drop into Mt. Currie’s base and we then traversed over to Mt. Wedge by climbing Mt. Cook. The conditions were really poor, and I walked some nasty steep parts with my buddy. I survived another one! We slept in the mountains and then skied down to a better location so the helicopter could pick us up again. It was a fun yet sketchy trip.
I am heading to the EU again on Thursday for an ultramarathon race on Saturday on the Azores Islands. Please keep in touch by following me on Instagram. Thanks for the 50,000 followers there!
To your success,
PS1: If you have not already, I urge you to try out our free web-based trading simulator at stocktradingsimulator.com. It’s conveniently available 24/7, whenever you have time to practice honing your trading skills.
PS2: If you are not yet an Elite member, I hope you will take advantage of our “Hello Spring” promotion. You will find the details here. You will receive 50% off the price of an Elite annual membership and in return you will gain access to all of our excellent educational and training resources.